Algorithmics joins forces with SYSTEMIC Risk Management

Toronto/London/Athens - June 11, 2008 -

Algorithmics has partnered with SYSTEMIC, an Athens-based risk management solutions provider, to deliver Algorithmics' robust risk management solutions to Greece and other markets.

SYSTEMIC will take an active role in sales and regional implementations of Algorithmics' risk management solutions, as well as in training clients. Where required, SYSTEMIC will also configure Algorithmics' solutions to meet local regulatory requirements, for example, in complex areas such as Basel II.

John Macdonald, Executive Vice President, Algorithmics, commented: "We decided to partner with SYSTEMIC because the combination of SYSTEMIC's local market expertise and Algorithmics' world leading risk management software enables us to offer local customers world class risk management solutions."

"In terms of breadth and depth, Algorithmics is the number one provider of enterprise risk solutions globally. Our partnership with them allows us to expand significantly the range of risk solutions that we now offer and to better meet our clients' different goals, sophistication levels, and budgets. Furthermore, working closely with Algorithmics' highly experienced team of professionals will allow us to extend our technical expertise in large scale implementations," noted Aristides Protopapadakis, Managing Director of SYSTEMIC.

Algorithmics and Systemic will be hosting an exhibition stand and a panel discussion at the forthcoming Risk and Compliance Conference in Athens on 12th June. If you would like to see further information please see website www.riskconference.gr.

For further information please contact:

Heather Smith
Senior Communications Manager, Algorithmics (UK) Ltd
Direct line +44 (0) 20 7392 5820
Mobile +44 (0) 7515 974223
E-mail: Heather.smith@algorithmics.com

Evi Haritopoulou
Marketing Manager, Systemic R.M. SA
Tel +30 (210) 3389 250
E-mail: e.haritopoulou@systemic-rm.com

Notes to Editors:

SYSTEMIC is a leading solutions and services provider in the fields of financial risk management and portfolio management. SYSTEMIC provides sophisticated, yet affordable and practical risk management solutions with customers including National Bank of Greece, HSBC Bank, Société Générale, Merrill Lynch International, PIRAEUS Bank, EFG Eurobank Asset Management, the Cooperative Banks of Greece, and many more.

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.

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

© 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.

Press Contact

Heather Smith
Senior Communications Manager
Tel:  +44 (0)20 7392 5820
Mobile: +44 (0) 7515 974 223
Fax: +44 (0)20 7395 5701
email: Heather.Smith@algorithmics.com