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Toronto/London - December 12, 2007 -

Algorithmics has today announced that Bank of Ireland's Global Markets division has purchased Algo Market Analytics, which covers more than 20 global markets and over 400 financial products, spanning fixed income, foreign exchange, equity, credit, energy, commodity and derivatives instruments.

Catherine Keane, Head of Credit and Market Risk at Bank of Ireland Global Markets said, 'We plan to roll this system out to the middle office as soon as possible. With over 80,000 positions on our books, we need a system that can run best-practice, technologically advanced, intra-day market risk analytics quickly and efficiently, and in a manner that is consistent with Basel II requirements.

'One of the advantages of Algo Market Analytics from our point of view is its scalability, and within the next 12 months we also intend to extend it into our front offices, to improve our traders current decision support tools. In particular, we want to implement the best possible stress testing and scenario analysis, to ensure we use our capital as effectively as possible on behalf of our shareholders.'

Andrew Aziz, Algorithmics' Executive Vice President of risk solutions said, 'I am very pleased to welcome the Bank of Ireland as a client. Recent market events have raised banks' awareness of the need for comprehensive scenario analysis.

'At the heart of Algo Market Analytics is the Mark-to-Future methodology, a forward-looking simulation framework based on full valuation across user-defined scenarios capturing all optionality, within a single, unified framework'.

We believe that this will help Bank of Ireland to better measure, control and manage its market risk to achieve its business and regulatory objectives.'

Notes to Editors:

Bank of Ireland Global Markets is the number one treasury services provider in Ireland. Global Markets' key offering is a comprehensive range of treasury and international banking services to Irish and international companies from its global headquarters in Dublin. Customers are provided with a single point of contact to handle all their treasury management needs from currency, interest rate and international trade risk management to treasury investment solutions and global payments. It has built up considerable expertise in risk management and has a reputation for innovation and price competitiveness in the marketplace. Bank of Ireland Global Markets' No. 1 position is recognized through award winning, including the iMoneyNet Offshore Money Fund Report (OMFR) Award for its US Dollar liquidity fund, the Irish Association of Corporate Treasurers (IACT), Euromoney and The Banker publications

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 Market Analytics combines industry-leading product coverage with an extensive library of advanced pricing models, scenario generation methodologies, calibration routines and statistical functions, allowing users to select tools in accordance with their needs. Its underlying Mark-to-Future, technology provides the basis for an integrated market and credit risk solution across the financial institution for both middle-office risk analysis and front-office, real-time decision support.

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.

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