Company Posts Operating Profit on EBITDA Basis and Generates Positive Free Cash Flow

NEW YORK (March 2, 2005) – Radianz, the leading global provider of financial connectivity services, announced today that it achieved several key milestones during 2004, including generating an operating profit before interest, taxes, and non-cash items, attaining positive free cash flow, and achieving a record number of accesses to Provider services.

"The success that we've enjoyed over the past year is a validation of our community-based shared infrastructure model," said Howard Edelstein, Radianz President & CEO. "In a single year we have achieved a $60 million cash flow turnaround in our business, putting the company on sound financial footing. Looking forward, with our neutrality ensured, we expect to further increase the value we provide to the growing list of financial institutions and service providers that utilize our infrastructure."

Financial highlights for Radianz in 2004 include:

Operating income before interest, taxes, depreciation and amortization (EBITDA) of $40 million, vs. a loss of $6 million in 2003.
Cash flow from Operations of $36 million, vs. a net decrease of $24 million in 2003.

Net loss on a GAAP basis of $6 million vs. $90 million in 2003.
Flagship shared infrastructure revenues increased 16 percent over 2003 to approximately $300 million.

Business highlights in 2004 include:

Service accesses by Radianz customers continued to grow at a rapid pace, demonstrating the strength of the shared infrastructure model. Total monthly services accessed reached a record 30,900, reflecting a compound annual growth rate of more than 400 percent over the past three years. The average Radianz customer site now takes 3.0 services, up more than 20 percent in the last year.

Winterflood became Radianz’s 1,000th FIX customer, making Radianz the largest global FIX network.
Several key market participants were added to Radianz’s global service provider community, including Euroclear, Fortis Bank, Omgeo, i-Deal, and GovPX.

Total Providers available through the Radianz shared market infrastructure reached 150, up 30 percent over year-end 2003.

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