SOPHIS ANNOUNCES CROSS-ASSET IMPLEMENTATION OF RISQUE AT FORTIS

Brussels, 15th March 2006 – Sophis, a leading provider of cross-asset, front-to-back-office solutions, today announced that Fortis Bank has extended its use of RISQUE to the bank’s credit operations.

Fortis will use RISQUE to manage all its credit derivatives positions, from single-name CDS transactions to more structured derivatives, including CDO2. The investment banking arm of the international financial services group, which has used RISQUE for more than 10 years, already uses the cross-asset platform’s equity derivatives and commodities modules.

Fortis launched the search for a new system to support the development of its structured products business. As well as Fortis’ strong working relationship with Sophis and understanding of its solutions’ capabilities, RISQUE’s flexibility was a crucial selection criteria. RISQUE’s toolkit allows users to customize the system to allow, for example, use of its own analytics and pricing tools for some instrument types.

Pierre Amrom, Head of Credit Derivatives, Structured Credit Group, Merchant Banking, Fortis Bank, says, “By using Sophis RISQUE, we are taking advantage of a rich out-of-the-box functionality and in particular a flexible trade entry system that can hold all our credit derivatives. Our strategy is to focus our quantitative and IT resources on value-added tasks, such as the design of valuation model on different types of CDO’s and synthetic structured credit products.”

Hervé Vinciguerra, Chairman, Sophis, says, “Fortis’ decision to expand use of RISQUE from two to three asset classes reflects the strength of our cross-asset offering. The ability of solutions to support transactions across asset classes is critical to succeed in this market; more and more clients are challenging us to support cross-asset and hybrid strategies. This deal also reflects our clients’ confidence in Sophis’ ability to deliver.”

RISQUE, Sophis’ trading and risk management solution for sell-side institutions, is used by more than 50 investment banks worldwide.

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