New Zealand clients go live with Bravura Solutions KiwiSaver-enabled product

Auckland, New Zealand - 3 August 2007

Bravura Solutions – a leading global supplier of wealth management applications and professional services – has announced the upgrade of a number of clients; including ASB and Trustees Executors, onto the KiwiSaver-compliant version 3.4 of the Talisman application.

The upgrade delivers core system functionality in response to the New Zealand Government’s workplace savings scheme, KiwiSaver. The upgrades have ensured Bravura’s New Zealand customers are fully compliant with the new legislation, in time for the July 1 deadline.

Jason Tong, Bravura’s Chief Operating Officer for Asia Pacific said: “We believe Bravura is the first application vendor to develop a commercially available solution that is KiwiSaver compliant. New Zealand is a key market for Bravura and the successful roll-out demonstrates our speed to market and commitment to improving customer value.”

The application upgrade delivers customers a client-centric solution for administering personal retirement savings, investment and risk products.

Clayton Wakefield, Head of Technology and Operations, ASB said: “The Talisman application successfully enabled ASB to go to market on July 1. ASB are working closely with Bravura to deliver leading KiwiSaver capabilities and market responsiveness.”

Deepak Gupta, Executive Director at Trustees Executors said: “Bravura’s KiwiSaver-enabled Talisman application was chosen for its simplicity and fluidity. The software provides us with the necessary flexibility to manage a complex portfolio of products.”

This KiwiSaver component of Talisman is the first part of a two-phase process. The second phase, which will occur prior to October, will deliver customers additional KiwiSaver and new Portfolio Investment Entity (PIE) capabilities.

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