Algorithmics releases new version of Algo FIRST - now including 130 recent credit crunch case studies

Toronto, New York, London - December 1, 2008 -

Algorithmics has released version 4.2 of the Algo FIRST database of case studies. Algo FIRST is a repository of over 8,000 case studies which include in-depth analysis of operational, credit, market, and strategic risk events, in addition to coverage of compliance-related and corporate governance events.

Primary enhancements of the new 4.2 version include email alerts of new case studies or updates that match criteria established through saved searches. The latest user defined reporting allows for the creation of customized reports and .pdf downloads which can be used for the generation of presentation quality output.

Also, Algorithmics' analysts have been covering the present credit crisis from its onset and Algo FIRST now contains 130 related case studies and additional analysis of bank failures that occurred during the past year as a result of contracting credit markets.

Penny Cagan, Managing Director, Credit & Operational Risk Content, Algorithmics, said: "Our clients are telling us that the current environment has changed the way they are using the case studies in Algo FIRST. In addition to looking at the operational risks, they are now developing scenarios that are multi-disciplinary and include a variety of complex risks. For many of these clients, the information has become an essential part of their holistic risk assessment."

Dr Michael Zerbs, President and COO of Algorithmics, commented: "Our content businesses, which include Algo FIRST, are an important differentiator for Algorithmics, which, in addition to state-of-the-art software solutions, offers market leading content that adds breadth to our overall business mix and is unmatched by our competitors."

Almost 100 financial institutions from a variety of sectors, including global and regional banks, asset managers and insurance companies, currently subscribe to Algo FIRST. They use the case studies heavily in their risk assessments, educational, risk awareness, and training programs. In addition, global regulators have targeted robust, cross-disciplinary and imaginative scenarios as an important component of effective risk management programs. The case studies in Algo FIRST provide robust and unique content for such initiatives.

For more information about Algorithmics' content solutions, visit: http://www.algorithmics.com/EN/solutions/casestudies/

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:

Algorithmics is the world's leading provider of 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 FIRST is a database of external risk loss events that enables banks, insurance providers, pension funds, hedge funds and asset managers to proactively manage operational risk. Algorithmics' solution is the industry's only research tool that puts real-life case studies within an operational risk framework, making it ideal as a supplement to internal data for self-assessment and scenario modeling.

Containing 8,000 events, Algo FIRST addresses exposures related to corporate governance, strategic issues, market practices and business risk. Detailed information on control breakdowns, event triggers and 'lessons learned' provides risk professionals with qualitative analysis unrivaled in its depth of analysis and industry coverage. Algo FIRST is a web-based service available by annual subscription.

 

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.