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Toronto/London/New York - December 19, 2007 -

Algorithmics has announced today that the National Federation of Fisheries Cooperative (NFFC) of South Korea has selected its Credit Advisory team to assist NFFC with several key strategic risk management projects.

NFFC has a network of more than 500 branches throughout South Korea and specializes in lending to small and medium sized enterprises (SMEs) associated with the fishing industry. The bank is preparing to comply with the Basel II Internal Ratings Based approach, which it wishes to achieve by the end of 2009. The Algorithmics Credit Advisory team is providing the framework and best practices to help the bank realize this goal.

In addition, the Algorithmics Credit Advisory team will be helping NFFC to improve its lending practices by enhancing its probability of default models. These development efforts will provide NFFC with more accurate measurements of the creditworthiness of its clients and play a major role in it Basel II program.

Hak -Ki Shin, NFFC's Basel II team leader, said 'SMEs make up around eighty per cent of our lending portfolio, so it is very important to us to have the best possible probability of default models to assess the creditworthiness of our clients, so that we can accurately calculate how much to lend them and at what interest rates.

'We look forward to working with the team from Algorithmics to grow our business and our profits in the future.'

Joe Henbest, Managing Director of Credit and Collateral Solutions at Algorithmics, said, 'We are delighted to be working with NFFC and our business partner, Korea Ratings, on this important initiative. We believe it demonstrates the commitment of Korean banks to adopt international best practices for credit risk management, and we look forward to extending our relationship with NFFC and other Korean financial institutions.'

Notes to Editors:

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.

Algorithmics' Credit Advisory Team provides global consulting solutions to help firms identify, measure and manage credit risk. The group covers the full range of credit risk management, including customized quantification and the evaluation of supporting credit policies and processes. The team works to ensure that the most practical and effective client solution is realized, leveraging the team's expertise in the construction of quantitative models and, where less applicable, the implementation of traditional credit risk methodologies.

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.

Korea Ratings was established in December 1983. It is the largest rating agency in Korea, and has contributed a great deal to the advancement of capital markets and the promotion of a credit society. It has achieved this by producing and distributing the latest industry and management related information as well as advanced risk management solutions. The Risk Management Solution Team (RMS) offers both risk management solutions for credit risk, market risk, integrated risk management, risk adjusted performance measurement (RAPM), liquidity risk, Basel II consulting services and credit rating model development, based on the extensive information and knowledge accumulated through credit rating and consulting services. To this end, RMS is equipped with highly reliable and accurate information accumulated by conducting a large number of risk management and credit rating-related consulting services.

Fitch Ratings holds a 53% interest in Korea Ratings. Fitch and Korea Ratings first entered into a strategic alliance in 1999, which included the provision of technical assistance and training. Since that time, Fitch and Korea Ratings have collaborated on the provision of credit ratings and risk management services, as well as hosting joint conferences and seminars. Fitch made its first equity investment in Korea Ratings in 2001.

© 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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