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Toronto/New York/London - June 23, 2008 -

Algorithmics, the leading provider of enterprise risk solutions, today announced that it has been positioned by Gartner, Inc. in the leaders quadrant in the Operational Risk Management Software for Financial Services(1) Magic Quadrant report.

John Winter, Senior Vice President, Operational Risk Implementation, Algorithmics, commented: "We are delighted that Algorithmics has been positioned in the leaders quadrant by Gartner. At a time when operational risk management is so prominent we believe this is confirmation of the strength of Algorithmics' operational risk management solution. Over the last twelve months we have worked to introduce our standard edition software and we continue to receive positive feedback about the superiority of the GUI and of the functionality overall."

Rita Silverstein, Director, Operational Risk Product Management, Algorithmics, added: "We have made significant enhancements in a new standard edition of Algo OpVar. Top industry analysts are now confirming that the best practice methodology built into the standard edition is a good fit for an institution's operational risk requirements. The standard edition not only incorporates best practice into an institution's risk management environment, but is also fast to implement. Clients can be up and running quickly, in less than a month, realising immediate benefits of improved management of their operational risk."

According to the report, the Leaders quadrant "tends to be occupied by vendors with software applications that are addressing qualitative as well as quantitative aspects of risk management of ORM. These vendors have achieved a high level of market acceptance and enable a consistent view of operational risk across the organization as compared to separately designed and implemented risk calculation engines or audit, control and compliance reporting tools. Such vendors approach operational risk more comprehensively and holistically across the enterprise and link operational risk to CPM. They have robust organizational structures and professional services resources."

1. Gartner Research. Magic Quadrant for Operational Risk Management Software for Financial Services, Douglas McKibben, David Furlonger, June 6, 2008.

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

Notes to Editors:

The Magic Quadrant is copyrighted June 2008 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the 'Leaders' quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Evaluation Criteria. Gartner's report evaluated Algorithmics on its ability to execute and its completeness of vision. According to the report, 'this axis (ability to execute) evaluates ORM software application vendors on the quality and efficiency of the processes, systems, methods or procedures that enable their performance to be competitive, efficient and effective, and to positively affect revenue, retention and reputation.' The completeness of vision 'axis evaluates ORM application vendors on their ability to convincingly articulate logical statements about current and future market direction, innovation, customer needs and competitive forces, and how well they map to the Gartner position.'

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. www.algorithmics.com

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

© 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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