Prima Solutions closes a $4.2 million (€3.5 million) financing round to accelerate growth in the Insurance-specific SOA software market.

Paris, June 6, 2005 - Prima Solutions, the provider of Prima Platform™, the leading software Foundation for Service-Oriented Insurance Applications™ today announced the completion of a new round of growth financing. While quality investors around the world showed strong interest in the company, the financing was in the end entirely provided by existing shareholders. They confirmed that Prima Solutions’ technology stands out in the insurance SOA software market and that the ambitious nature and strong track record of the company speaks for its future growth potential.

Prima Solutions was founded in 1999 with a mission to help Insurance companies incrementally transform their existing legacy systems and streamline their core business processes to dramatically increase business results and enterprise agility. This is achieved by implementing new Service Oriented Insurance Applications leveraging legacy systems to support improved core distribution, customer service, policy administration or claims management processes. Since its creation Prima Solutions unique software foundation, Prima Platform™, has been endorsed by leading insurance players across Europe, including CNP Assurance, France’s largest life and health insurer with over 15 million customers.

“The excellent feedback we received from investors during the financing round and from our existing shareholders is a clear endorsement of our vision, business model, product and ability to execute. Since its creation, Prima Solutions has been helping forward-looking insurance organizations improve IT efficiency and agility, grow top-line and cut operating costs, said Stéphane Guinet, co-founder and CEO at Prima Solutions. This new financing will accelerate our sales momentum in the nascent but fast growing market for insurance-specific SOA platforms across the world. Our goal is now to leverage this momentum to aggressively grow Prima Solutions into a global vertical software player".

"Prima Solutions is helping to pioneer the space of Service-oriented applications, and is getting good traction in the insurance industry," said Jason Bloomberg, Senior Analyst, ZapThink LLC. "The long-term potential for Prima Solutions is clear and exciting as their technology has already been embraced by some of Europe’s leading insurance companies. I believe Prima Solutions is well-positioned to be a major player in the market for SOA solutions for the insurance industry."

Prima Solutions will employ the funds to expand its market leadership position through strengthened sales and marketing initiatives across Europe, Asia and the United States of America as well as continued product development.

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