FNX Limited expands Managed Services

Philadelphia, May 31, 2005 - FNX Limited (FNX), a leading provider of technology solutions for treasury and capital markets, announced today the availability of a series of new managed services intended to simplify its clients’ operations and to maximize the return on their software investment.

The new managed services provide a more flexible business model that allows clients to control the customization of their FNX SOLUTION according to their specific business requirements. With a commitment to deliver complete Solutions, FNX now offers the following services:

· Joint Development Teams (JDT): A fixed-cost service, JDT provides the
client with a full-time, dedicated team of FNX developers and business analysts to manage and support their specific enhancement needs. Created especially for clients who expect to have significant, ongoing enhancement requirements, JDT combines the best of off-the-shelf software and in house development. Clients are able to manage proprietary and non-proprietary enhancements on FNX’s Sierra infrastructure, while still maintaining upwards compatibility to FNX’s standard development track. Costs are controlled and time-consuming paperwork is reduced as development can be grouped into more manageable yearly plans.

· On Site Dedicated Support Teams (DST): This service provides clients
with an on-site team of FNX’s business and technical analysts to deliver dedicated system monitoring and help desk services. The FNX-trained staff, experienced in Sierra architecture and functionality, insures expert system management and allows clients to concentrate on their core business.

· Client Specific Release (CSR): This service addresses the unique
needs of FNX’s clients by providing an independent, client focused development environment based on a specific version of the Sierra source code. It allows for absolute control of development activity on the client version, by back patching of major enhancements and a selective isolation from other FNX clients changes. With this service clients will enjoy greater delivery flexibility since the process is not constrained by FNX release schedule.

· Client Specific Testing (CST): Designed with each client’s specific
configurations, environment, and workflow in mind, FNX provides a regression test that mimics production workflow and procedures based on a duplicate of the client’s actual production environment. With CST, FNX can address the unique needs of clients that have high trade volumes, complex operations and a highly specific workflow. Clients that use this service close the gap that may exist between generic regression testing and client acceptance testing thereby reducing the time, resources and costs associated with system maintenance.

· Custom Load and Performance Evaluation (PRF): A PRF allows clients to
validate their specific Sierra installation with respect to performance capacity, fail over capability and disaster recovery. This service is provided by experienced IT teams that possess a complete knowledge of all FNX’s SOLUTIONS and its related infrastructure. The team uses automated load test and performance monitoring tools giving complete control of validation and test requirements. The service is available either at client offices, in the dedicated FNX Load Lab or remotely via the Internet.

· Disaster Recovery Services (DRS): Sierra Rapid Restore gives clients
a cost effective disaster recovery option in the event of catastrophic equipment failure, network failure, and/or environmental disruption. This service allows Sierra clients to quickly restore and access their Sierra System through FNX’s fully managed and secure application hosting service.

The new service offerings from FNX allow clients to focus on their core competencies and lets FNX concentrate and provide what it does best:
Complete installation and management of complex financial systems.

"With our new services approach, we solve one of the biggest hurdles of the traditional license model, the utilization of scarce personnel resources to both implement and operate the software. With these services, our clients do not need to bring on additional staff as FNX handles all aspects of the implementation, support and enhancements at a cost efficient price," says Mr. Farid Naib, FNX CEO and Founder.

"Furthermore, FNX provides a resource that serves as both system
administration and help desk. A typical FNX on site resource will have several years of experience with the Sierra system and will be better trained in its operation than any non-FNX alternative. There are no headhunting fees and no training costs for this resource," Mr. Naib added.

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