Algorithmics Provides "Broadest And Deepest Risk Management Offering" for Basel II Says Celent Report

Toronto, Canada - February 28, 2006 - Celent, an influential research and advisory firm serving the financial services industry, recently recognized Algorithmics' Basel II offering as the "broadest and deepest" available for core Basel II applications in its new report, Risk Management and Basel II: Comparing the Financial and Credit Risk Solution Vendors. The report, which was headed by Celent analyst Cubillas Ding, examines the state of the market for Basel solutions and assesses offerings from seven innovative vendors who are helping institutions meet Basel II requirements. The report also examines the lessons learned from the first-wave institutions that have purchased Basel II solutions.

"Algorithmics, being a specialist in the risk management arena, provides the broadest and deepest offering for Basel II covering market, credit, and operational risks," writes Cubillas Ding. "In terms of advanced features and technology, Algorithmics is strongly positioned not only because it possesses an integrated approach to market, credit, and operational risk, but also because is delivers data and sophisticated analytics/models. In terms of depth of client services, Algorithmics scores particularly well -- with the depth of services combining not only risk analytics, models, and software but also ASP options for delivering credit risk advisory services and industry-level data pooling services." The report also recognizes Algorithmics' leading client base in terms of number and total assets.

"The marketplace for true Basel II solutions can be a challenge for institutions to navigate due to the varied size and expertise of current vendors," said Dr. Michael Zerbs, President and Chief Operating Officer at Algorithmics. "This report recognizes Algorithmics as a leading choice for institutions looking for the most comprehensive risk solution in the industry; one that offers thought leadership and extensive Basel II and capital management experience."

About Celent - Celent, LLC is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis.

About Algorithmics - Founded in 1989, Algorithmics is recognized as the world's leading provider of enterprise risk management solutions and services that enable financial institutions to effectively understand and manage their financial risk. Algorithmics has over 300 clients, including more than 75 of the 100 largest financial institutions in the world. Algorithmics was voted as the leading enterprise risk solution provider for Basel II, market risk, credit risk, operational risk and collateral management in Risk magazine's 2005 Technology Rankings.

About Fitch Group - Fitch Group is the parent company of Fitch Ratings, a leading global rating agency committed to providing the world's credit markets with accurate, timely and prospective credit opinions. Fitch Ratings is dual-headquartered in New York and London, operating offices and joint ventures in more than 50 locations and covering entities in more than 80 countries. Fitch Group is a wholly owned subsidiary of Fimalac, S.A., an international business support services group listed and headquartered in Paris, France.

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