TCG and FRS sign Distributor Agreement for Slovakia

02JAN05 – TCG (The Communications Group) and FRS Belgium N.V. have signed an agreement by which TCG has acquired the rights to sell and support the Financial Reporting & Analysis Solutions from FRS in Slovakia.

FRS FinancialAnalytics® is the product of choice for more than 600 financial institutions in over 25 countries, including 55 of the global 100 and 37 of the Top 50 European Banks.

Together with a major financial institution, FRS and TCG will launch the FRS Regulatory Reporting Solution in Slovakia per January 1, 2006. The product will be fully localised for the Slovak market and will include the latest reporting requirements from The Slovak National Bank.

During 2006 standard add-on products such as Basel II and IFRS reporting will be added to the product offering.

TCG’s foot print has increased dramatically during the recent months. Besides the offices in the Czech Republic, Kazakhstan and Russia; TCG now also has offices in The Netherlands, France Romania and Spain.

By entering into the Distributor Agreement with FRS Belgium, TCG will further expand its office network into Slovakia in order to provide local support.

According to Rudolf Fontijn, TCG’s CEO, the new office in Bratislava will provide the perfect platform to further extend the FRS FinancialAnalytics® usage within Slovakia. Since FRS is the market leader in Europe for Regulatory Reporting, and its products suite is now fully localised for the Slovak market, TCG has great expectations of increasing the customer base.

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