Kamakura Names Mark Mesler Managing Director, Head of KRIS Default Probability Service

KRIS-cr Default Probability Service Designed for Basel II HONOLULU, May 8, 2003: Kamakura Corporation announced today that Mark Mesler has been named Managing Director and a member of the Managing Committee at Kamakura. Mr. Mesler heads the information production for Kamakura Risk Information Services, Kamakura's innovative Basel II - compliant default probability service launched last fall. Mr. Mesler has been in charge of the daily production of the KRIS-cr Merton model, reduced form model, and hybrid model default probabilities from the outset. Mr. Mesler has 20 years experience in the financial services information and systems field and is a veteran of State Street Bank, KPMG, Oracle, and the Bank of America.

"Mark Mesler has made a very significant contribution to Kamakura and to Kamakura's default probability clients since he joined the company early in 2002," said Dr. Donald R. van Deventer, Kamakura's Chairman and Chief Executive Officer. "Mark has been instrumental in building into Kamakura's KRIS-cr default probability product the clarity and transparency that Basel II demands of default probability vendors. Mark's dedication to state of the art credit model performance testing, as Basel II requires, has been extremely popular with Kamakura clients and we are very proud to have him on the Managing Committee at Kamakura."

Prior to joining Kamakura Corporation, Mr. Mesler was Vice President at Askari Risk Management Solutions, at that time a subsidiary of State Street Bank in Boston. At KPMG, Mr. Mesler was a project manager in financial services consulting and worked on projects that involved two of the largest banks in the world. Before joining KPMG, Mr. Mesler was a managing principal in the risk management area for Oracle Corporation, where he worked on projects from Amsterdam to Singapore. Mr. Mesler also spent 8 years at Bankers Trust Company and Bank of America in New York, London, Los Angeles and San Francisco as an expert in foreign exchange dealing systems. Early in his career, Mr. Mesler worked on the 'Star Wars' strategic defense initiative at Hughes Aircraft. Mr. Mesler has an MBA from New York University and a bachelors degree in mathematics from Michigan State University, where he was captain of the cross-country team and qualifier for the U.S. Olympic trials in the marathon.

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