IBSnet awarded SWIFT Ready status for 7th consecutive year

Hoboken, New Jersey – April 10, 2005 – Surecomp, a leading provider of trade finance, factoring and reconciliation solutions for the banking and financial market, today announced that its Windows-based trade finance banking system IBSnet has achieved SWIFT Ready Gold status for the 7th consecutive year.

SWIFT annually recognizes vendors which supply third party software solutions based on SWIFT compliance, their efficient integration with the SWIFT environment, and their contribution to improving industry STP.

SWIFT has clear and specific criteria that are linked to the Gold and Silver label for each of the market segments. These criteria are designed to reflect the capability of a product to provide automation in a SWIFT environment. An additional requirement that applies for all markets is that the labeled product needs to be used in a live environment by at least five customers.

Joel Koschitzky Surecomp’s Chairman and CEO commented, "We are delighted that for the 7th consecutive year IBSnet has been awarded SWIFT Ready Gold status. Surecomp is dedicated to the on-going development of integrated trade finance solutions which streamline the transaction lifecycle to minimize costs and maximize profits while earning our customers a rapid and attractive ROI."

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