Bank of Tokyo-Mitsubishi Embarks on Global Rollout of City Networks' Confirmation Matching Solution

SIBOS, Singapore - 22 October 2003, City Networks, provider of software and services to the treasury, securities and derivatives markets, today announced the successful implementation of the latest version of its CityNet Matching module at Bank of Tokyo-Mitsubishi. Having gone into production in the London Branch, the CityNet solution will be rolled out globally across the Bank's operations for FX, inter-bank and customer dealing confirmation matching.

This implementation follows an extensive review by the Bank of Tokyo-Mitsubishi, part of one of the largest financial institutions in the world, of its products and suppliers. The review was part of the Bank's global project to re-establish its accounting and operational host system from "Smile 400" to a centralised Overseas System ("OVS").

The success of the CityNet Matching solution has led to a request by the Bank of Tokyo-Mitsubishi for the City Networks Japan office to develop a special interface between the module and Bank of Tokyo-Mitsubishi's centralised Overseas System ("OVS"). Phase I of the interface, called "Interceptor", went live in early June. Phase II is in development and is being specifically designed to allow ease of installation in future locations.

Mr Koichi Tanaka, Senior Manager of Global Corporate Banking IT Planning Office at Bank of Tokyo-Mitsubishi commented: "The integrated solution from City Networks has provided significant benefits in our real-time transaction process. This is the first step in our plan of global operational expansion".

Guyon Hayklan, MD for the Asia Pacific region at City Networks added: "We are extremely pleased to continue to work with Bank of Tokyo-Mitsubishi to achieve complete STP in its treasury operations. Via this seamless link to the Bank's host system, our software extends the STP chain and considerably reduces operational risk."

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