Kamakura Names Phil Jones General Manager for Japan Risk Management Software and Information

HONOLULU, June 22, 2005: Kamakura Corporation announced today that Phil Jones has been named head of Kamakura's risk management software and risk management information business in Japan. Mr. Jones, a 22-year veteran of the credit ratings business in Japan, assumes his duties effective immediately. Mr. Jones, who is fluent in Japanese, is a graduate of Stanford University and Indiana University.

"Kamakura is very proud to have Phil Jones on the Kamakura team," said Donald R. van Deventer, Kamakura Chairman and Founder. "Phil combines an international outlook on risk management with extensive experience in Japanese financial markets, particularly from a credit risk perspective. Kamakura's continuous 15 year presence in Japan is the longest of any international risk management vendor. We believe that Mr. Jones' sterling reputation and experience will provide even more value to the risk management clients of Kamakura."

"Kamakura is the world leader in enterprise risk management software and default probability modeling with a multiple models approach," said Mr. Jones. "Over the last ten years, major Japanese financial institutions and corporations have been preoccupied with the aftermath of the bubble economy. One of my duties in this new role is to bring Japanese institutions to the forefront of world-wide best practice in risk management. This will be key, not only to the future success of Japanese banks and corporates, but also for efficient capital allocation and therefore to maintain Japan's stability and growth. At the same time, it is important to incorporate the insights of the Japanese bubble, subsequent crash and current recovery into Kamakura's world-wide default probability modeling."

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