BAILARD LIVE WITH INDATA

Firm Cites OMS and Custom Reporting Capabilities as Key Drivers For Switching To INDATA I.M.S.

GREENWICH, CT, October 28, 2005 INDATA, a leading industry provider of software solutions for buyside firms, today announced that Bailard, Inc., the San Francisco Bay area firm with $1.7 billion in assets under management, is now live with the INDATA I.M.S. system for portfolio modeling, pre- and post-trade compliance, trade order management, portfolio accounting and reporting, and billing.

"When we began our search for a new vendor, it was important for us to have a solution that enhanced our trading and compliance capabilities, as well as a system that was capable of handling our specific accounting, reporting and billing requirements," said Burnie Sparks, President of Bailard. "It was also important for us to have a company who could work with us throughout the conversion process to accommodate the unique functionality and reports that we had used for many years in our previous system," added Mr. Sparks. "We found the INDATA team to be great to work with and the flexibility of their system to address our specific requirements has really made the difference in the conversion."

"Transitioning from one system to another can be a challenge, especially when a firm has been using a vendor for a number of years," commented David Csiki, managing director of INDATA. "Our approach has always been to leverage the latest technology as part of the conversion process. In doing so, we are able to offer a level of customization that is unmatched within the industry. With INDATA, once a client has been converted they are able to leverage much of the old functionality that their previous system provided as well as take advantage of all of the new functionality provided by our I.M.S. system. We welcome Bailard to our fast-growing client base."

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