SWEDBANK CONSOLIDATES COLLATERAL MANAGEMENT ACTIVITIES WITH ALGORITHMICS

TORONTO, CANADA / STOCKHOLM, SWEDEN - November 11, 2004 - Algorithmics Incorporated, a world leader in enterprise risk management solutions, today announced that Stockholm-based Swedbank has begun the implementation of Algo Collateral to manage margining requirements across its OTC Derivative and Repo business lines.

Algo Collateral will centralize Swedbank Markets, Swedbank's investment bank unit, OTC derivatives and repo margining activities onto a single platform to increase efficiency and reduce operational costs. "We are very impressed with the openness, flexibility and breadth of functionality in Algo Collateral," said Per Aspegren, Head of Merchant Banking at Swedbank Markets. "Algorithmics demonstrated great responsiveness during the evaluation phase and was able to commit with confidence to our project timescales. We are implementing a solution that is ready to meet all of our present and future requirements."

Algo Collateral is an enterprise solution, dedicated to reducing operational and credit risk, while simultaneously providing cost-effective support throughout the entire collateral management process. Algo Collateral's customizable workflow will allow Swedbank Markets to consolidate collateral information and manage the resultant collateral events and positions. "Algo Collateral's flexible workflow will accurately define and guide the critical operational activities associated with the margining of our OTC Derivative and Repo agreements", continued Per Aspegren.

"Algo Collateral has an outstanding client base around the world with excellent reference sites," says Michael Zerbs, Chief Executive Officer at Algorithmics. "We are excited to begin a new relationship with Swedbank and its growing network of companies. This implementation also expands upon the existing relationship with Swedbank Markets, who is an important user of Algorithmics for market and credit risk since 1999.

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