Altasol and SOFGEN Forms Business Alliance

Newark - 2 March 2011

SOFGEN Holdings Limited (SOFGEN), an international provider of IT solutions for banks, is pleased to announce that its wholly owned subsidiary, SOFGEN Americas, Inc., has formed an alliance with ALTASOL, a provider of performance and risk management consulting services to commercial banks operating in the U.S. and Latin America. The alliance will focus primarily on regulatory reporting - delivering programs that will provide insight into ever-changing regulatory requirements and delivering solutions designed to alleviate the reporting burden.

Mr. Paul Koch, President of ALTASOL, commented, "Adding SOFGEN's REG-Reporter software to our portfolio will enable us to expand the suite of services we offer our customers. By providing a wider array of solutions to critical issues and problems, we enable our clients to stay ahead of their competition and in compliance with regulations."

Vincent Raniere, SOFGEN EVP, Global Head of Product Sales, stated, "With high customer service standards and with Mr. Koch's thirty plus years of experience and achievement in commercial and international banking, SOFGEN regards ALTASOL as an ideal partner. This alliance better positions SOFGEN to increase the footprint of our regulatory reporting solution throughout the U.S. domestic and U.S.-based international banking community."

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