Majedie Asset Management Selects FMC For Front and Middle Office Solutions

London, February 18, 2003 – Financial Models Company Inc. (FMC), a leading provider of technology solutions and services to the investment world, has announced that Majedie Asset Management, a fund management company focusing on active UK Equity fund management for institutional clients and retail business, has chosen FMC for its front and middle office technology requirements.

Majedie Asset Management is in the process of implementing FMCModel®, FMCTradeä, FMCSylvanä, FMCPages® and FMCReconä for portfolio modeling, trade communications, performance measurement, client statement generation and reconciliation, respectively. Majedie Asset Management chose the FMC solutions after a competitive evaluation of several vendors. The primary drivers in the selection were the proven reliability of FMC products, the rapid implementation that FMC could deliver, and the future development path of FMC products.

Majedie Asset Management was launched by a group of four veteran fund managers with an excellent track record of portfolio management, and two key business staff members from a leading international investment firm.

"In shaping our technology infrastructure from the ground up, we wanted a platform that would meet our needs today and evolve with the future growth of our business," commented Simon Hazlitt, operations director for Majedie Asset Management. "FMC’s products comprise a front and middle office solution that will enable us to support the performance and level of service our customers expect."

"The Majedie Asset Management partnership represents an extraordinary pool of talent, and the market has high expectations for its performance. We are pleased that they chose FMC’s solutions to power their front and middle office functions," said Phil Banas, managing director of Financial Models Corporation Limited, FMC’s UK subsidiary.

Majedie Asset Management was founded in 2002 by a team of experienced fund managers to take advantage of the growing demand for specialist, high performance UK equity products. The team has a long, strong track record and the business has the financial backing of Majedie Investments PLC, one of the UK's oldest listed investment trusts.

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