Philippines Savings Bank selects Misys OPICS to streamline treasury operations

London, 22 May 2003 - Philippines Savings Bank (PSBank) has selected OPICS,
the treasury and capital markets solution from Misys Wholesale Banking
Systems, to continue the improvement of its IT infrastructure by reducing
risk and increasing efficiency.

With OPICS set to go live by the second half of the year, anticipated
improvements in treasury operations include higher efficiency and accuracy
in the front, middle and back office, enhanced transaction flow, better risk
management through volume and stop-loss limits, and inventory management of
securities. It is also expected that the work of traders will be optimised,
allowing them to concentrate on marketing and client service instead of
transaction processes.

PSBank chief finance officer, Mr. Noli Gomez, explained that the bank went
through a highly competitive and thorough deliberation process to find the
best system that would suit the bank's treasury needs long term.

"OPICS from Misys addressed our concerns on supporting large transaction volumes, operational issues, and better risk management controls. We also
believe that Misys has the competency to enable PSBank a smooth transition
from our current system to OPICS given their impressive track record on
projects with other banks. Another important factor in choosing Misys was
their extensive experience here in the Philippines and their strong and very
reliable local support team."

K.K. Grover, Misys Wholesale Banking Systems' Country Manager for
Philippines comments: "We are delighted to be working with Philippines
Savings Bank on this exciting project. Their selection of OPICS endorses it
yet again as the complete treasury solution of choice for banks in the
Philippines. OPICS will truly streamline their treasury operations and
enhance their efficiency."

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