KBC Group Selects Ness Technologies to Standardize Reference Data

4 September 2008

Ness Technologies, Inc. (NASDAQ: NSTC), a global provider of information technology services and solutions, today announced that KBC Group NV, an international financial group with headquarters in Brussels, has selected the Ness Financial Data Enterpriseâ„¢ solution as its consolidated data management platform in a large multi-year agreement.

Through a combination of Ness’ proprietary software and services, Ness Technologies will provide KBC Group with an end-to-end data management solution ensuring that the data-driving processes such as performance attributions, risk analysis, pricing, research, fund accounting and customer servicing is clean, complete and consistent across KBC group companies.

“We are always looking for ways to serve our customers better and we chose to work with Ness because their offering is robust, comprehensive, and has a proven track record,” said Eli De Mil, General Manager ICT, and Geert Fransen, Procurement Officer Market Data Services, KBC Group added, “The Ness solution will bring tremendous benefits – allowing us to work more effectively within a multi-source environment to better manage reference data. We see this as a scalable platform that can grow along with our future needs and dovetail with plans to centralize data across group companies.”

Sudhakar Kondisetty, Chief Business Officer of Ness’ Financial Services vertical said, “We are delighted that KBC has chosen Ness as its data management partner for the future. After years of working with capital markets and retail banking clients on system integration and application development, we’ve turned our insight on business process and the intricacies of data management into a solution that consolidates data sources and improves data quality and dynamic intelligence for end users. We look forward to helping KBC Group companies around the world optimize data quality for the benefit of their customers.”

“KBC Group is a valued client, and we are very pleased to expand our existing relationship with such a prestigious firm,” said Sachi Gerlitz, Ness President and CEO. “This contract exemplifies our growing strength in Europe, where the demand for our unique services and products just continues to increase. We remain committed to further penetrating this important market, with a particular focus on the financial services, utilities and public sector verticals.”

The Ness Technologies Financial Services vertical offers specialized and proprietary solutions for institutions focused on Banking, Capital Markets, and Investment Management. Proprietary software includes the Ness Financial Data Enterprise solution, which automates the acquisition, management and distribution of reference data and accelerates provisioning of higher quality and dynamic intelligence to end users. Ness provides consulting, system integration, core systems, data management and knowledge process operations outsourcing services with onsite and local presence in North America, Europe, Israel and Asia Pacific – complemented by Global Delivery Model capabilities via centers across India and Eastern Europe. Clients include Credit Suisse, Deutsche Bank, Erste Bank, Franklin Templeton, Invesco, Standard & Poor’s, UBS and others.

Ness Financial Data Enterprise is a cost-effective and flexible solution that allows financial institutions to take control of their enterprise data by automating end-to-end acquisition, management and distribution of reference data. Ness’ data management platform acts as a transformation and enrichment hub consolidating disparate data sources through an intelligent and dynamic metadata layer in order to deliver higher value data to end users, systems and value-chain participants.

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