i-flex Board approves two strategic initiatives -- Acquisition of Equinox, a mortgage platform based company -- 33 % stake in Login-SA, a specialist treasury front-end solution provider -

London, November 15, 2004; i-flex solutions today announced that its Board of Directors had approved two strategic initiatives, the acquisition of Equinox Corporation and the decision to acquire a 33 % stake in French-based treasury software specialist firm, Login SA. Both initiatives are part of i-flex’s inorganic growth strategy, aimed at strengthening its solutions portfolio for the global financial services industry.

Equinox provides Customer Acquisition and Business Process Outsourcing (BPO) services to Mortgage institutions, Auto Financers and Credit Card companies.

Equinox offers several incubation model based customer acquisition programs such as SmartAcquisitionâ„¢, StopLeakageâ„¢ and StopRunoffâ„¢ and a host of process outsourcing services that include back-office processes such as 1003 processing, underwriting review, HUD1 processing, funding, wiring, purchase clearance, loan audit, data integrity audit, HMDA audit, trailing docs tracking and retrieval, re-conveyance / assignment processing, new loan boarding and audit, pay-off processing, foreclosure processing among others.

Login-SA is a highly specialized front and mid-office treasury solution provider with its product Login Acumen. Acumen has a wide acceptance in European countries and in the Americas, Middle East and Southeast Asia. Acumen complements and strengthens i-flex’s offering to the treasury market by being able to provide an end-to-end solution. With this new partnership i-flex and Login will seek to address developed markets effectively and offer solutions in specialized areas such as derivatives.

Rajesh Hukku, Chairman and Managing Director, i-flex solutions said, "Our mission is to offer value added solutions that help our customers excel in their businesses. We see great synergies in these strategic initiatives that we are announcing today and believe they would help our customers get the benefit of one-stop delivery, with the specialized processing capability of Equinox added to the portfolio." On Login SA, he added, "We had worked with the company in joint customer situations in the past and found that our products were extremely compatible. With i-flex’s strong and wide spread sales and marketing reach and Login’s robust functionality and domain expertise, we see this investment as a winning strategy for both companies."

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