TURNING LEGECY INTO LEGENDARY: PENDO SYSTEMS, CORBEAU AND COLUMN A PARTNER WITH TOTAL SOLUTION

New York - 31 October 2006

Pendo Systems, fresh off of its acquisition of BasisPoint earlier this year, announces strategic partnerships with Corbeau Technologies, Inc., for integration products and services, and Column A, Inc. for near-shore development.

Recently, Pendo Systems released BasisPoint 5.0, their global investment accounting system. Leveraging the strengths of individual partner firms, BasisPoint, a complete global multi-firm, multi-client, multi-basis investment accounting system, is creating a revolution in financial accounting by running entirely on SQL 2005 and leveraging Microsoft’s technology and development efforts in this area. Stevan Vidich, Industry Architect for Microsoft Financial Services group said, “BasisPoint developed using .NET Framework and running on SQL Server 2005 database leverages SQL Server Reporting Services and adheres to Microsoft’s best practices for building robust and scalable enterprise applications. It is designed to be flexible and to accommodate changing business needs of the most demanding enterprises.”

BasisPoint 5.0 utilizes Corbeau’s financial system integration application, SystemsBridge, embedded for easy integration with their clients’ financial applications and an easy transition from existing accounting systems. “By incorporating SystemsBridge into BasisPoint, clients can convert from virtually any financial accounting system to BasisPoint with the push of a button,” commented Christopher Morgan, President of Corbeau Technologies, Inc. “With the use of Corbeau SystemsBridge, prolonged financial accounting system conversions will soon be a thing of the past. Pendo Systems recognizes the importance of delivering a solution that can be implemented in a fraction of the time of other financial accounting systems.”

Pendo chose Column-A as their outsource provider for their in-depth knowledge of
financial services business processes and technology capabilities, and because they offer a fully staffed development team to focus on Pendo’s technology as a partner in the ongoing development of BasisPoint. Column A’s depth will enable BasisPoint to rapidly adapt to changing market demands. Philip Salibello, President & CEO of Column A states “our business model is engineered to support our partner’s business goals by providing increased productivity, rapid resource scalability and reduced exposure to staffing shortages and turnover.”

“Our goal was not to just bring an alternative to market, but to demonstrate that global investment accounting can be easily implemented and integrated into our clients existing infrastructure, lowering the overall cost of ownership. Most projects suffer because of integration issues,” says Pamela Pecs Cytron, President & CEO of Pendo Systems. “Our team and partners all have extensive experience working with many firms and solutions in our space and it is our on-going mission to add value both from a solutions and an implementation perspective.”

BasisPoint has been vetted by leading financial services firms and industry experts worldwide.Pendo’s team has well over 100 years of experience within the industry and all realize that to achieve the competitive edge, institutions must cast aside siloed inefficient business practices and processes.

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