Sanno Point Capital Management LLC selects JRiskTM

Palo Alto, CA. February 21, 2005 - Application Networks, Inc today announced its flagship product JRisk has been selected by Sanno Point Capital Management.

JRisk will be used across all activities of this new multi-strategy hedge fund including trade capture, pricing and position management as well as risk, P&L and scenario analysis. JRisk will support a wide range of credit, equity, forex and interest rate products including highly structured and hybrid transactions.

"We needed a software solution that could fully support the complexities of a multi-strategy fund and provide us with the flexibility to respond to the challenges of a sophisticated trading & risk management activity," says Peter Mager, Sanno's Chief Technology Officer. "After a careful review of the software solutions available only JRisk satisfied our requirements with its support for complex trading strategies and products and the ease with which it can be integrated with highly structured analytics," he adds.

"We believe a reliable state-of-the-art trading and risk platform is crucial these days to manage and control a cross-asset class trading business," comments David Hammond, Sanno's Managing Director and Co-Founder. "Our decision to purchase JRisk was made that much easier as investors are placing higher importance on technology and risk management capabilities," he continues.

"This new win is extremely exciting as it further extends our foot print in the growing hedge fund market," says Evrard Van Hertsen, CEO of Application Networks. "JRisk has a proven track record amongst the largest banks and hedge funds and its selection by Sanno not only confirms JRisk's premier status for the most demanding risk management requirements but also its adaptability and applicability for the more niche players in the market," he adds.

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