Kamakura Adds Cumulative Default Probabilities to Kamakura Risk Information Services

Cumulative Default Available for Maturities from 1 Month to 5 Years

HONOLULU, June 8, 2005: Kamakura Corporation reported today that it has added cumulative default probabilities for 16,000 public companies in 25 countries to its Kamakura Risk Information Services default probability and correlation service. The cumulative probabilities of default complement the existing annualized term structure of default probabilities available for each of the 16,000 companies. The KRIS service is the only default probability service which offers multiple default probability models and pair-wise correlations in default for each model and each company. The total number of correlations available on the service is in excess of 800 million correlations.

"One of the key advantages of the Kamakura Risk Information Services is its transparency, a key requirement of the new capital accords from the Basel Committee on Banking Supervision," said Warren Sherman, Kamakura President and Chief Operating Officer. "With a transparent system, a sophisticated user group is constantly offering suggestions for further expanding the power of the systems. Our key clients suggested adding cumulative probabilities of default to add more powerful insights to the system. The cumulative probabilities of default give tremendous visibility not just to the likelihood of default but also to its timing. This is one of the reasons for the industry-leading accuracy of the Kamakura default probability models."

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