BlueCrest Capital Management L.P. goes live with Algorithmics for hedge fund risk management

Toronto/London - August 13, 2008 -

Algorithmics and BlueCrest Capital Management L.P. ("BlueCrest") are pleased to announce that, as of July 1, 2008, Algorithmics' Algo Risk Service is in production for the risk management practice of BlueCrest. This brings together the world's leading provider of enterprise risk solutions and one of the top ten largest hedge fund firms in Europe. Algo Risk Service is an outsourced portfolio construction and risk management service that will enable BlueCrest to advance its strong risk culture.

Jonathan Martin, Head of Risk at BlueCrest, said: "Our portfolio has experienced substantial growth in assets under management and we were looking for a vendor who could provide a high level of service and support to enable us to rapidly deploy new instruments into our risk management service. Algorithmics has the capability to respond to our changing requirements in a timely way, introducing additional instruments and supporting the service with experienced customer support professionals. We have a risk system in production that is configured to our unique requirements, can grow with our business, and includes responsive support from people dedicated to addressing our needs."

Dr Andrew Aziz, Algorithmics' Executive Vice President of Risk Solutions, added: "We are delighted to be working with BlueCrest in providing a customized risk service to meet their specific multi-strategy requirements. We are providing them with a flexible and dedicated risk management service without the overheads normally associated with such coverage, processing power and support.

"Unique in the market, Algo Risk Service provides unmatched instrument coverage across all asset classes and investment strategies, in particular, addressing BlueCrest's strong position in credit derivatives and OTC products in general."

Algo Risk Service allows investment managers and risk managers to analyse and quantify the risks across all their portfolios. They can then use these risk profiles to create and implement new trading and investment strategies. The service can rapidly assimilate the risk profiles of new instruments that can be incorporated into portfolios for stress testing against a bespoke set of risks to ultimately mitigate risk. The service offers a complete portfolio construction and risk oversight solution, without the costs of a complex implementation or infrastructure.

For more information about Algorithmics' Risk Management solutions for hedge funds, please visit:
http://www.algorithmics.com/EN/solutions/myindustry/hedgefund.cfm

ENDS

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

Piers Westerman, Head of Investor Relations, BlueCrest Capital Management Limited
Main line +44 (0) 20 3180 3000
E-mail info@bluecrestcapital.com

Notes to Editors:

BlueCrest is an alternative asset management company based in London, managing significant institutional assets across a number of diversified strategies. The two founders of BlueCrest, Michael Platt and William Reeves, were both Managing Directors and senior proprietary traders at JP Morgan, who left to establish BlueCrest in 2000.

Since its inception, BlueCrest's objective has been to construct a trading infrastructure of investment bank quality, upon which trading teams can be built and new strategies developed. BlueCrest believes in a speciality model. It employs teams of market specialists across numerous disciplines, all operating with state-of-the-art proprietary analytical technology. This speciality structure encourages broader overall portfolios with significantly less concentrated risk and can allow the portfolio managers to focus on smaller, more esoteric anomalies that are often overlooked.

All of the specialist teams benefit from the significant market insights provided by the strong and diversified research team. The combination of a specialist model and such breadth and depth of research ensures a high level of intellectual curiosity, which drives continued product innovation. www.bluecrestcapital.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. www.algorithmics.com

Algo Risk Service provides a fully integrated, flexible platform for assessing future risk across an organization in a single, consistent, rigorous environment covering all investment strategies across all risk factors and asset classes. It covers both traditional assets and sophisticated, structured products. Offered as a managed service, clients access the solution via a web browser. All the Algo Risk Service software and computing power is hosted by Algorithmics, allowing the cost of ownership to be dramatically reduced.

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.