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Toronto/London/Kuala Lumpur - March 5, 2008 -

Algorithmics announced today that Alliance Bank Malaysia Berhad (Alliance), Malaysia's premier integrated financial services group, has selected and implemented the Algo OpVar Standard Edition solution for identifying, measuring and mitigating operational risk.

Alliance is a dynamic, integrated financial services group offering end-to-end financial solutions across Malaysia.

Alliance Group Chief Executive Officer, Ms Bridget Lai, said: 'We looked at a variety of products to assist us in standardising our operational risk management processes throughout the group and chose the Algo OpVar Standard Edition solution, based on its reputation, the software architecture and the functionality it offers.

'Implementation of Algo OpVar Standard Edition was rolled out in seven months and the support of the technical staff at Algorithmics has been very good.'

Daniel Mudge, Group Managing Director for Operational Risk Business and Content Solutions at Algorithmics, said: 'We are delighted to be working with Alliance. We believe that Algo OpVar will help them to better manage their operational risks, as well as meet their regulatory and compliance targets.

'Our 'out-of-the-box' Algo OpVar Standard Edition product is based on industry best practice methodologies and proved attractive to Alliance because it provides a robust operational risk solution in a low risk, timely, cost effective way. Algo OpVar Standard Edition helps clients make better business decisions by providing an integrated platform to identify, collect, and manage operational risk. We also have seen that Algo OpVar Standard Edition can be reconfigured in the future to meet different requirements, as well.

'We look forward to continuing to work with Alliance in future and to extending our relationship with them.'

Notes to Editors:

Alliance Banking Group is a dynamic, integrated financial services group offering end-to-end financing solutions through its consumer banking, commercial banking, wholesale banking, Islamic banking, investment banking and stock broking businesses as well as unit trust and asset management, providing products and services that are suited for every customer at every stage of their life. The Group has had five decades of proud history in contributing to the financial community in Malaysia with its innovative and entrepreneurial business spirit. The Group's aspiration is to be Malaysia's premier integrated financial services group delivering the best customer experience and creating long term shareholder value. Strategic alliances, enhanced group synergy, excellent technology and human capital will be the key to creating long term value for all stakeholders. Alliance Bank is a wholly-owned subsidiary of Alliance Financial Group. www.alliancebank.com

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 OpVar is a cost-efficient, flexible and comprehensive best practice software product for operational risk management. It is built on a single, integrated platform that can be customised to meet an organisation's individual needs. The fully integrated nature of the system enables an institution to select only the functionality immediately required and add more if and when desired. As a result, it can scale to meet a company's changing needs and requirements as well as evolving regulatory and rating agency requirements. It provides management with an integrated view of operational risk, bringing together internal loss event data collection, external loss data, risk and control self-assessments, key indicators, structured scenario analysis, capital modeling and risk mitigation strategies. It is available as a customized product, configured to meet a client's specific requirements, or as a Standard Edition, providing clients with an out-of-the-box methodology for operational risk management without major investment.

Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings' global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.

The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions.

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 and www.fimalac.com

For further information please contact:

Heather Smith, Senior Communications Manager, Algorithmics (UK) Ltd
Direct line +44 (0) 20 7392 5820
Mobile +44 (0) 7515 974 223
E-mail: heather.smith@Algorithmics.com

© 2008 Algorithmics Software LLC. All rights reserved. ALGO, ALGORITHMICS, Ai & design, ALGORITHMICS & Ai & design, KNOW YOUR RISK, MARK-TO-FUTURE, RISKWATCH, ALGO ALM, ALGO COLLATERAL, ALGO CREDIT ADMINISTRATOR, ALGO CREDIT DATA SERVICES, ALGO CREDIT ECONOMIC CAPITAL, ALGO CREDIT EXPOSURE, ALGO CREDIT LIMITS, ALGO CREDIT REGULATORY CAPITAL, ALGO CREDITVANTAGE, ALGO ETREASURY CREDIT, ALGO FIRST, ALGO MARKET ANALYTICS, ALGO OPDATA, ALGO OPVAR, ALGO RECONCILIATION, ALGO RISK, ALGO RISK SERVICE, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.

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