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Toronto, Canada - November 10, 2005 -

Algorithmics Incorporated, a recognized leader in enterprise risk management, today announced that its industry-leading Algo Capital solution has been enhanced to provide expected positive exposure (EPE) functionality for over-the-counter derivatives and securities financing transactions. The enhancements to the solution's credit exposure product, Algo Credit Exposure, now enable realistic and robust EPE calculation for counterparties across the trading book while taking into account complex mitigation.

"Financial institutions require comprehensive solutions to the challenges of Basel II compliance, the last pieces of which are falling into place," remarked Diane Reynolds, Director of economic capital at Algorithmics. "EPE is a key element of the Basel II capital treatment of counterparty credit risk, and the enhancements to our solution now allow it to support all flavours of EPE calculations. Algo Credit Exposure is a cost effective, sophisticated and easily-implemented tool for Basel II compliance already in active use by over 50 clients worldwide to calculate accurate and timely peak exposure measures in the trading book for operational purposes."

"The introduction of EPE calculations furthers our recognized leadership in delivering Basel II solutions to the global financial services industry," said Kim Olson, Managing Director of Algorithmics' capital management solutions. "Algorithmics is currently completing 17 significant enterprise-wide Basel II implementations at leading financial institutions, and has over 70 Basel II related client projects underway."

About Algo Capital and Algo Credit Exposure
Algo Capital offers a comprehensive solution including software, services, advisory and content necessary for banks to meet their Basel II and capital management requirements. It includes products for economic and regulatory capital across all Pillars, risk types, business lines, asset classes and approaches. It satisfies both an incremental and tactical, as well as long-term and strategic, approach to regulatory compliance and capital management using a proven and consistent infrastructure. Within Algo Capital, the Algo Credit Exposure product calculates and aggregates simulation-based exposures. Based on Algorithmics' award-winning Mark-to-Future framework, Algo Credit Exposure provides full forward valuation across numerous scenarios, as required by Basel II. It considers both netting and collateral in the treatment of mitigation and provides a choice of measures provides a rich set of statistical results (for example, moments such as EPE or quantiles such as peak exposure) for each counterparty and can be extended to include custom measures that reflect an individual institution's approach to credit risk and limit management. Algo Credit Exposure provides mark-to-model calculations for more than 200 product types. Extensions allow users to purchase additional modules, create their own or access analytics from other sources to ensure that 100% of the firm's counterparty credit exposures can be addressed within the Algo Suite framework. This inclusive approach is essential in facilitating compliance. The product also facilitates the comparison of capital calculations under various assumptions, including: stochastic vs. deterministic exposures, default/no-default vs. mark-to-market, full diversification vs. concentration modelling, and integration of market and credit risks vs. credit risk only. This framework for comparison permits both reconciliation of economic and the calculation of alpha for regulatory calculations.

Recognized as the dominant enterprise risk solution provider in market, credit and operational risk in Risk Magazine's 2004 Technology Rankings, Algorithmics has been positioned by Gartner Inc. in the Leaders Quadrant of its Basel II Solutions Magic Quadrant.* "We believe this reflects Algorithmics' proven track record in providing practical solutions to the many Basel II implementation challenges that banks are facing, in developing innovative products and services for managing both regulatory and economic capital, and in delivering a platform that captures and measures credit, market and operational risk across the enterprise," said Michael Zerbs, President and Chief operating officer at Algorithmics.

About Algorithmics
Founded in 1989, Algorithmics is a recognized leader in enterprise risk management. Following its acquisition by the Fitch Group in January 2005, Algorithmics is the world's leading provider of enterprise risk management solutions and services that enable financial institutions to effectively understand and manage their financial risk. Algorithmics has over 200 clients, including more than 60 of the 100 largest financial institutions in the world. Algorithmics was recently recognized as the dominant enterprise risk solution provider in market, credit and operational risk in Risk Magazine's 2004 Technology Rankings. www.algorithmics.com

About Fitch Group
Fitch Group is the parent company of Fitch Ratings, a leading global rating agency committed to providing the world's credit markets with accurate, timely and prospective credit opinions. Fitch Ratings is dual-headquartered in New York and London, operating offices and joint ventures in more than 50 locations and covering entities in more than 80 countries. Fitch Group is a wholly owned subsidiary of Fimalac, S.A., an international business support services group listed and headquartered in Paris, France.

© 2005 ALGO, ALGORITHMICS, AI & design, MARK-TO-FUTURE, ALGO CAPITAL, ALGO COLLATERAL, ALGO CREDIT, ALGO MARKET, ALGO OPVANTAGE, ALGO RISK, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.

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