FIRST by FXpress Will Be Unveiled At The Annual AFP Conference Next Month

OCTOBER 21, 2003-Bala Cynwyd, PA-FXpress Corporation, a leading provider of treasury risk management software, today announced the release of FIRST (FXpress Interest Rate System Trader) by FXpress, an investment and debt trading system built with the most sophisticated technology on the market. The solution will be unveiled to the international treasury community at the AFP 24th Annual Conference in Orlando next month.

FIRST by FXpress assists treasurers with daily processing activity and decision-making relating to investments of excess cash and borrowings used to meet funding requirements. It covers a variety of interest-bearing instruments and derivatives that allow treasurers to manage interest rate exposure. Some of the key features of FIRST by FXpress include:

- Support for commercial paper, money markets, debt securities, interest rate derivatives, inter-company loans, and "User Created Instruments" (UCI’s)
- Simplified pricing and analysis of a complete interest rate portfolio
- Automated handling of rate resets, cash payments, and short-term rolls
- Measurement of effectiveness of fair value and cash flow hedges for FAS 133/138 compliance
- Confirmations, delivery netting, and comprehensive mark-to-market and accounting management
- Sophisticated web-enabled technology (128Bit SSL encryption) for maximum security

"Fxpress has achieved two major milestones with the introduction of FIRST---our entry into a new product market and the demonstration of a continued commitment to delivering quality software with the customer’s needs in mind," said James Gilbert, Director of Business Development and Operations at FXpress. "FIRST is the cornerstone for the company’s future direction of delivering a complete treasury workstation to keep up with the growing demands of our customers."

The AFP Conference will take place at the Orange County Convention Center from November 2-5, 2003. FXpress will be offering demonstrations of FIRST and other treasury software at booth 434.

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