Commerzbank Securities licenses the Principia System to manage its London-based ABS/MBS business

Jersey City, New Jersey – June 2, 2004 – Principia Partners LLC, a leading provider of full front-to-back office systems for global capital markets, today announced that Commerzbank Securities has licensed the Principia System to manage its London-based asset-backed and mortgage-backed securities (ABS and MBS) portfolio. Commerzbank Securities is the fully integrated investment banking division of Commerzbank AG, one of Europe's leading banks.

Commerzbank Securities will use Principia’s advanced trade capture, portfolio management and risk management for its rapidly growing global ABS/MBS portfolio. "The size and complexity of our ABS business has developed such that we require a fully integrated approach to portfolio and risk management," states Steve Burns, Debt Capital Markets, Commerzbank Securities, London. "Principia not only provides the required ABS analytical and risk management capabilities, but its ease of implementation and maintenance was the key factor in product selection."

The Principia System offers an integrated platform that can seamlessly process a broad array of financial instruments through an entire lifecycle from deal capture to accounting. The ability to flexibly structure portfolio views and compositions using exacting user-defined criteria allows users to leverage the integrated nature of the system.

"We are delighted to be working with a world class organization such as Commerzbank Securities," states Dr. Douglas Long, Product Marketing Director at Principia. "We look forward to working with them to meet the challenges of managing a multi-currency, multi-national ABS/MBS portfolio."

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