ENVISION FINANCIAL SYSTEMS WINS FIRST PLACE FOR INNOVATION IN SoURCEMEDIA 2005 FUND OPERATIONS AWARD

Second Consecutive Year For First Place Finish

TUSTIN, CA. June 20, 2005 — Envision Financial Systems, a leading provider of software solutions to the financial industry, announced that for the second consecutive year it is the First Place recipient of Innovation in SourceMedia’s annual Fund Operation award.

Envision was selected based on their innovative development of Real-Time Cash and Group Trading within the award-winning transfer agency software, PowerAgent.

Real-Time Cash provides the portfolio managers with a recap of both actual and pending trade activity and in turn, accurate and timely projected cash flows. These projected cash flows enable the portfolio manager to invest all of the available cash in the applicable index stocks and derivatives, ultimately improving fund performance.

This real-time synchronization provides an accurate view of projected cash flows with real-time accounting of pending purchases, redemptions and exchanges; using all of the trade information from the various sources including file transmissions, phone calls, web trades, faxes, estimates, etc.

The new Group Trading feature allows an advisor or broker to organize accounts into logical groupings, based on their risk preferences or chosen asset allocation models. Trades can then be processed at the group level based on factors input by the broker. The system analyzes all account holdings within the group, on a real-time basis, and generates the trades necessary to bring the individual account holdings in each fund to the desired percentages. In other words, Group Trading reduces hundreds of individual trades to a single data-entered transaction.

With increased scrutiny on late trading this innovative feature makes it easier for advisors to meet fund cutoff times and trading deadlines. It also reduces the risk for fund companies accepting large trade volumes shortly before closing.

Both Real-Time Cash and Group Trading are features in PowerAgent, the only award-winning next-generation transfer agency that is robust, flexible and scalable.

Satnam Gambhir, President of Envision, says, "We’re honored to have been selected for a second year in a row amidst the intense competition from all the other highly qualified entrants. Features such as Real-Time Cash and Group Trading are possible due to the powerful flexibility of PowerAgent, and we are actively working on new features that will change the way the mutual fund industry uses transfer agency systems."

The SourceMedia Fund Operations Award is selected by a panel of judges from NICSA, KPMG, kasina, DMR Financial and Boston Consulting Group. Awards were handed out at the annual NICSA General Membership Meeting on June 13st at the Wellesley Country Club in Wellesley Massachusetts. Other first place winners include PFPC for the category of Innovation (tied), PFPC for the category of Leadership and JPMorgan for the category of Efficiencies.

The 2005 Operations Award is the fifth award for Envision in the last two years. In 2004 Envision was a recipient for Best Software Company of the Year by the Software Council of Southern California, Best Marketer of the Year by the American Business Association, first place in the Thompson Media Operations Award in the category of Innovation and recipient of the Deloitte Technology Fast 50.

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