Principal Global Investors implements CADIS in 11 weeks

London and Boston, MA - 17 March 2008

Cadis Software, formerly Citadel Associates, the provider of enterprise data management (EDM) systems for the buy-side, today announced that Principal Global Investors has gone live with the award-winning Cadis EDM suite, after an implementation of just 11 weeks. The global data management platform empowers Principal Global Investors to more effectively manage its security data. The firm is seeing an immediate return on its investment, having gained full control, validation and governance over its security data.

Principal Global Investors maintains data in multiple sources across multiple time zones and systems. With the Cadis EDM Suite now installed, the firm has access to a higher quality of data with a single security master file (SMF). The solution helps Principal Global Investors quickly identify any data inconsistencies at an early stage of the process. It enables the firm to compare the SMF to other sources, aiding quick resolution of any discrepancies. Furthermore, the Cadis EDM Suite rules engine has enabled the Principal Global Investors data management team to quickly and easily create basic rules without relying on the IT department.

Cherie Huffman, assistant director of securities operations at Principal Global Investors commented: "This solution puts us in better control of our data and allows us to create processes that match how we want to do business today and for the future. Cadis Software understands our business and the current software products we're using. Additionally, with two Cadis consultants working as part of our team on the implementation project, it was easy to align the software seamlessly with our infrastructure."

The Cadis EDM suite provides Principal Global Investors with a centralised single security master file, delivering up-to-date, cleansed security data source, customised to the firm's specific requirements.

The Cadis EDM Suite, which uses the latest Microsoft technologies, gives Principal Global Investors the flexibility and ability to modify or add to the SMF as the business and the market evolves. The SMF is available 24/7 on a global basis and provides a consistent view of the Principal Global Investors asset universe across all systems.

Dan Simpson, CEO, Cadis Software added: "This is a great example of how quickly a company can improve the quality of its data by using our solution and immediately see a return on its investment. After an implementation time of just 11 weeks, The Cadis EDM Suite now gives Principal Global Investors the tools to efficiently manage a single security master file, something that other asset managers are struggling to even envision."

With installations across three continents, The Cadis EDM suite is used by some of the world's largest buy-side institutions supporting some $3tn in assets.

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