Milestone Group commences global expansion – Opens London operation

London – 24 February, 2006. Milestone Group, a specialist technology and operations company focused exclusively on meeting the needs of the investment management community, today announced the opening of the company’s office in London. Formed in 1998, Milestone Group is the leading provider of next generation funds processing software in Australia, the fourth largest market for mutual funds in the world.

Milestone Group’s specialist technology solutions allow managers to implement radical positive changes in overall cost structure, operational transparency, risk and service levels.

The flagship pControl solution is an automated rules-based business application platform that fully automates the overall daily funds processing cycle. Comprehensive support is provided for all activities including system integration, cash and stock reconciliation, unit pricing, pre and post – pricing validations,
cash allocations, interfunding and rebalancing, distributions, cash aggregation and order management.

pControl is being used by five of the six largest fund managers in Australia, with clients including Colonial First State Investments, Credit Suisse Asset Management, AXA, ING and BNP Paribas Securities Services.

Based in Throgmorton Street in the City, the UK office has been opened in response to growing market and client demands. A comprehensive year-long research and market validation programme, working in partnership with leading UK managers and consultants, has highlighted the requirement for specialist rulesbased automation platforms to manage traditionally disparate and data-intensive funds processing activities.

Geoff Hodge, Chief Executive of Milestone Group said , “We are very excited to be opening our office in London at this time, in response to emerging demand in the UK. We look forward to partnering with leading organisations in fund processing and helping them to achieve real business benefits, without the need for the
replacement of core platforms.”

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