Larsen & Toubro Limited (L&T) Achieves Integrated, Web-based Commodities Trading and Risk Management with SunGard’s Kiodex

New York - December 12 2006

SunGard today announced that Larsen & Toubro Limited (L&T), based in Mumbai, India, is using SunGard’s Kiodex Risk Workbench for commodity pricing, position keeping and risk management. L&T is a technology-driven engineering and construction organization, and one of the largest companies in India's private sector. Kiodex Risk Workbench is a Web-based commodities risk management solution that integrates deal capture, proprietary valuation models, risk reports, and independent market data that includes representative prices, volatilities and volatility skews across the spectrum of commodity markets .

Kiodex helps companies like L&T to create a comprehensive trade support and risk management operation for commodities, by providing value-at-risk calculations as well as indicative pricing with Kiodex Global Market Data. These features help L&T to do pre-deal analysis for more informed and better decision-making.

R.Govindan, Treasurer at L&T, said, ”We selected SunGard’s Kiodex to help us as a Web-based solution that is pre-configured for commodities, to do commodity risk management more efficiently. The ability to connect Kiodex with our other systems was also a key factor in our selection, helping to streamline our operation and reduce operational risk.”

Thomas Farley, president of SunGard’s Kiodex business unit, said, “The selection of Kiodex by L&T is a strong endorsement of our value to corporations who have underlying commodity exposure. The days when companies can pass along energy and other commodity costs to the client in an increasingly competitive environment are coming to an end.”

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