Algorithmics sees significant client response to Algo Suite 4.4

Toronto, Canada - April 21, 2004 -

Algorithmics Incorporated today announced that the latest version of its industry leading enterprise risk management software, Algo Suite 4.4, has garnered significant response in the first two months following its general release. To date, thirty clients have selected Algo Suite 4.4.

"This is the strongest response we have seen to a release of our 4.0 architecture," said Michael Zerbs, Chief Executive Officer of Algorithmics. "As of today, we have sixteen Algo Suite 4.4 migrations underway and fourteen scheduled over the next few months. The list continues to grow as clients opt for a best practices approach to regulatory capital management for Basel II, the significant performance and cost benefits of Linux and distributed computing, and the sheer analytic power and scalability of our Mark-to-Future enterprise risk architecture."

About Algo Suite 4.4
About Algo Suite 4.4 Algo Suite 4.4 addresses the key regulatory and business challenges that financial service institutions face. It includes extensive Basel II functionality as well as Linux and distributed computing support. Algo Suite 4.4 leverages Algorithmics' proven Mark-to-Future (MtF) technology to provide cost-effective, on-time enterprise risk management. It enhances clients' return on investment and reduces their cost of ownership through increased performance and real-time decision support.

About Algorithmics
Algorithmics is a leader in enterprise risk management for financial institutions. Now in its fifteenth year, Algorithmics serves more than 150 global clients in 31 countries with proven solutions that continue to meet the evolving needs of its clients and deliver significant return on investment. Algo Suite 4.4, the latest version of Algorithmics' suite of enterprise risk management solutions, leverages Mark-to-Future technology to provide a proven risk architecture that delivers cost-effective, on-time enterprise risk management. Algorithmics is headquartered in Toronto and has 15 offices worldwide.

©2004 Algorithmics Incorporated. All rights reserved. ALGORITHMICS, MARK-TO-FUTURE, MtF, ALGO SUITE, and the Ai logo are trademarks of Algorithmics Incorporated and/or its affiliates.

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