COR announces second sale of its new "BITA Star" strategic asset allocation product

LONDON, April 5th 2004: COR Risk Solutions (COR-RS), a division of COR
Financial Solutions, international provider of advanced portfolio analytics, risk attribution and optimization software today announced it had signed a licence agreement with Credo Capital ("Credo") for the use of its new BITA Star product.

BITA Star provides private client fund managers, family offices and private banks with sophisticated capabilities that address the key areas of "Know Your Client"and Strategic Asset Allocation. Taking a workflow approach and combining asset class level allocation features with unparalleled reporting capabilities BITA Star delivers institutional levels of investment sophistication within a specifically designed private client methodology.

Commenting on this success Laurence Wormald, Research Director of COR-RS said: "We are delighted to have signed Credo as our second, post launch,
customer for BITA Star. The system was only announced in February and already
it is generating enormous interest in the private client market. Whilst our first client for BITA star builds bespoke portfolios for all of its clients, Credo takes a model fund approach. BITA Star was designed to support both approaches and it will be particularly useful for us to implement the model fund facilities for Credo."

Credo is an international private client fund management and corporate finance
operation based in London and with offices in Switzerland and South Africa.
Credo’s investment philosophy is to ensure that it fully understands a client’s
investment goals and risk profile before developing the investment strategy.
Credo also believes that I.T. plays an important role in both strategy development and client service and has invested to support these functions. Credo uses Advent Software’s "Advent Office" products for portfolio management, portfolio modelling and rebalancing and trade and Order Management, while achieving a high level of STP with multiple custodians.

Zack Shone, CTO at Credo adds: "We knew the functionality we were looking for
but had been unable to find it in the marketplace. When we saw BITA Star and
the facilities it offered we knew we had discovered what we wanted. In particular the client reporting capabilities are market leading and will offer us a very powerful tool to help develop investment strategies and present them to our clients."

He continued: "As well as providing functionality that allows us to ‘really know
our clients’, BITA Star will be integrated with our implementation of Advent
Office, allowing us to automate the downstream processes of order management
and portfolio management resulting from the construction and reallocation of
client portfolios".

Calum Graham, Regional Director for Advent Europe’s UK & Ireland business,
commented: "I see the combination of Advent Office and BITA Star as offering a
very high level of client facing functionality and STP in the private client asset management industry."

Taking a workflow approach starting with a detailed questionnaire BITA Star helps the investment manager to identify clients’ appetite for risk and return, and their need for income or capital growth. This process assists the firm meet its requirements and provides the input into the portfolio construction or model
selection phase.

Building on its extensive experience in supplying quantitative investment
solutions COR-RS has used the data management, reporting and risk and
optimization capabilities of the BITA Curve platform to form the foundations of
BITA Star. Advanced features such as currency hedging and multi-period cashflow
optimisation have been included within the bespoke allocation tool.

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