Princeton Financial Systems Announces Plans to Acquire Aquin

9 September 2008

Princeton Financial Systems LLC (“Princeton Financial”), a subsidiary of State Street Corporation and a leading provider of portfolio management and accounting solutions for global institutional investors, today announced the signing of a definitive agreement pursuant to which Princeton Financial will acquire all of the outstanding stock of Aquin Components GmbH (“Aquin”), one of Europe’s leading software vendors for international asset management and the fund industry and market leader in investment compliance.

The acquisition of Aquin, an established provider of middle and back office solutions with a strong presence in Europe, will allow Princeton Financial to significantly expand and accelerate their leadership and product offerings to the global marketplace. Princeton Financial’s strong back office PAM accounting product will complement Aquin’s investment compliance, order management, fund warehouse, reporting, and NAV reconciliation offerings. The combined offerings will allow the group to better compete in the marketplace by providing a broader offering with reduced integration risk whilst allowing each firm to retain its products, as well as its place in the marketplace, as best of breed provider.

Commenting on the acquisition, James C. Russo, Princeton Financial’s President and Chief Executive Officer said, "Princeton Financial and Aquin together can provide institutional investors with a complete solution. Both companies have solid reputations as quality service providers to our respective customers. That dedication, coupled with an expanded portfolio of services, will provide our customers with many benefits. We are confident that this acquisition will enhance our overall offering and service to our existing and future customers. "

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