Banca Esperia selects Algorithmics' portfolio construction and risk management service

Toronto/London/Rome - August 22, 2007 -

Algorithmics today announced that Banca Esperia, the private bank of Mediobanca, Mediolanum & Partners, has selected Algo Risk Service, a web-based portfolio construction and risk management service, for optimizing its risk-reward trade-off.

Banca Esperia's Chief Investment Officer, Roberto Russo, said, "We have seen rapid growth in our assets under management over the last 5 years. Our clients typically require strongly diversified investments to reduce the average risk of their portfolios, including a wide range of alternative investments. As we continue to grow, we want to ensure we always have the best possible systems in place to monitor our risk-reward trade offs, scenario test our investment strategies etc.

We believe that the Algorithmics solution provides this for us, giving us the ability to manage complex instruments without any technological constraints. Because it is a managed service, hosted by Algorithmics and delivered online, the system can be put in place quickly and does not involve us in a large capital outlay."

Andrew Aziz, Executive Vice President of Risk Solutions, said, "Algo Risk Service was designed with the needs of risk managers, portfolio managers, traders and quantitative analysts in mind. It can assist clients in monitoring, managing and optimizing risk across all asset classes and investment strategies, using state-of-the-art risk measurement and investment support tools.

The solution can be accessed by Banca Esperia's offices throughout Europe. It provides great flexibility and the user-friendly interface can be used to help demonstrate to their clients and potential investors they have the comprehensive risk and portfolio modeling tools needed to cope with the increased complexity of global markets."

Notes to Editors:

Banca Esperia, the private bank of Mediobanca, Mediolanum & Partners, is the leading Italian private banking company for inflows, and is dedicated to the management of complex personal and family wealth, combining the management of large assets, both private and institutional, with consulting, financing and service activities.

With total assets under management of over 12.2 billion (as of July, 2006) and 11 offices in Italy (Bologna, Brescia, Florence, Genoa, Milan, Modena, Naples, Padua, Parma, Rome and Turin), Banca Esperia owns 100% of Duemme Sgr, specializing in asset management services for private and institutional clients; Duemme Hedge Sgr, a leading company in the establishment and management of hedge funds of funds; Duemme Trust Company, specializing in Trustee activities; Duemme Servizi Fiduciari, dedicated to the offering of fiduciary and account aggregation services; and Duemme Capital Ltd, specializing in the monitoring, selection and advisory of the best hedge funds in the international market.

Algorithmics is the world's leading provider of enterprise risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group.

Algo Risk Service offers a fully integrated, flexible platform for assessing future market risk across an organization in a single, consistent, rigorous environment covering all investment strategies across all risk factors and asset classes. It covers both traditional assets and sophisticated, structured products. Offered as a managed service, clients access the solution via a web browser. All the Algo Risk Service software and computing power is hosted by Algorithmics, allowing the cost of ownership to be dramatically reduced.

Fitch Group is the parent company of Fitch Ratings, a global rating agency dedicated to providing the world's credit markets with independent and prospective credit opinions, research and data. The Fitch Group also includes Derivative Fitch, an independent provider of a suite of ratings and comprehensive services for the credit derivatives market; Algorithmics, the world's leading provider of enterprise risk solutions; and Fitch Training, which offers high-quality analytical training for financial professionals. The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com www.algorithmics.com www.fitchtraining.com and www.fimalac.com

© 2007 Algorithmics Software LLC. All rights reserved. ALGO, ALGORITHMICS, Ai & design, ALGORITHMICS & Ai & design, KNOW YOUR RISK, MARK-TO-FUTURE, RISKWATCH, ALGO RISK SERVICE, ALGO CAPITAL, ALGO COLLATERAL, ALGO CREDIT, ALGO MARKET, ALGO OPVANTAGE, ALGO OPVANTAGE FIRST, ALGO RISK and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.