HONOLULU, April 27, 2005: Kamakura Corporation announced today that seminars will be held in nine cities around the world to publicize the credit model performance results for the newest generation of its Kamakura Risk Information Services default probabilities and default correlations. The seminars will be held in Boston, Tokyo, Hong Kong, Milan, Paris, London, Frankfurt, Amsterdam, and Warsaw. Banks are required to provide quantitative credit model performance tests under the Basel II Capital Accords announced in 2004 by the Basel Committee on Banking Supervision.
"Kamakura Corporation is the only vendor of default probabilities and default correlations that has an established track record of published, quantitative model performance results," said Warren Sherman, Kamakura President and Chief Operating Officer. "We believe strongly that extensive Basel II model performance tests are part of the product clients expect when they subscribe to the Kamakura default probability and correlation service. We also believe that even minimum standards of corporate governance should prohibit the use of any modeling technology for which such test results are not available. Kamakura extends an open invitation to financial services regulators around the world to audit the Kamakura test results, subject only to a standard confidentiality agreement. This series of seminars will document Kamakura's new generation credit model performance in great detail."
Dr. Donald R. van Deventer, Kamakura founder and CEO, will lead the seminars.