AGENA ANNOUNCES NEW VERSION OF AGENARISK FOR OPERATIONAL RISK

London – Thursday 18 November 2004

Agena Limited, an innovative provider of risk management solutions, today
unveiled the latest version of its operational risk software, AgenaRisk v3.5.
The software provides comprehensive functionality for operational risk
assessment (including the advance measurement approach) as mandated in the
Basle II Accord. AgenaRisk is based on Agena’s unique Bayesian network
technology.

This latest version of AgenaRisk offers operational risk managers enhanced
risk management capabilities by taking account of risk dependencies and
interrelationships when undertaking risk assessments. More importantly, users
can proactively manage risk through “what-if” analysis in real-time to provide
a basis for fully risk informed business decisions and to help identify areas
for business process improvement.

“AgenaRisk uniquely gives key decision makers a forecast of the risk profile
into the future” said Norman Fenton, Chief Executive Officer at Agena. “This
latest version offers enhanced functionality and enables managers to focus on
the key operational risks and controls within their organisation”

AgenaRisk offers reduced cost of ownership, scalability and rapid
implementation for operational risk managers. The solution assesses the
vulnerability of business lines before they have experienced losses and
bridges the traditional gaps between quantitative and qualitative data.

AgenaRisk integrates self-assessment questionnaires, loss data and operational
risk models to quantify qualitative and numeric risks at any operational level
with the organisation. By taking account of risk dependencies the capital
charge in the form of a value-at-risk (VaR) distribution can be forecast from
aggregating the total loss forecasts for each business line.

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