Logica selected to implement BankMaster Plus for Bank of Bermuda's global network; BankMaster Plus integrates Bank of Bermuda's twelve international offices to create a centralized approach for managers to simulate transfer-priced results and accurately forecast future performance

Business Wire, Sept 30, 1996

LEXINGTON, Mass.--(BUSINESS WIRE)--Sept. 30, 1996 - Logica Inc., one of the leading independent systems integration, consulting and software firms in the world, today announced that it is implementing their asset/liability and financial planning software, BankMaster Plus(tm), for the international and multi-jurisdictional Bank of Bermuda.

Logica's Windows-compatible software provides the centralized approach that enables managers to realistically portray future performance based on a given range of interest rate conditions and management decisions.

Under the terms of the agreement, Logica will be integrating and providing widespread access to detailed interest rate risk data from Bank of Bermuda's international network of offices in London, Luxembourg, the Isle of Man, the Channel Islands, Dublin, the Cayman Islands, New York, Hong Kong, Singapore, New Zealand, the Cook Islands and Western Samoa.

"Logica is a large, robust and stable company that we could rely on for the implementation and development of transfer pricing and asset/liability management," said Caroline Hughes, Applications Manager for the Bank of Bermuda. "Logica offers a proven system with experienced consultation that was the best fit for our needs."

Through BankMaster Plus, Logica will be providing Bank of Bermuda the reliability and security to manage interest rate risk in changing environments, accurately forecast future performance, calculate market valuations and duration analyses, meet regulatory requirements for reporting and analyses, simulate transfer-priced results, and model derivatives.

"BankMaster Plus accepts data in a form that matches the structure of the bank's balance sheet, and integrates data from a variety of sources in a single database," explains Karen Roche, Vice President and General Manager, Financial Products and Services Group at Logica. "As a result, users can seamlessly share data and forecasting assumptions among applications and departments."

BankMaster Plus runs on a wide range of platforms including IBM RS/6000, IBM mainframes, DEC VAX, and Intel x86 personal computers.

About Bank of Bermuda

The Bank of Bermuda Limited provides a wide range of banking, trust and investment services in Bermuda and through their international office network to institutional and private clients worldwide. The Bank of Bermuda, founded in 1889, currently has assets of over $7 billion and assets under administration in excess of $40 billion.

About Logica Inc.

Logica Inc., with headquarters in Lexington, Mass., is a subsidiary of Logica plc, one of the leading independent systems integration, consulting, and software firms in the world. Logica Inc. provides systems integration, consulting, project management and software engineering to help business master technology. In North America, Logica provides services to the financial services, communications, and utilities sectors. In addition to providing services directly to its customers, Logica partners with leading IT vendors to deliver technology and solutions.

London-based Logica plc is a $395 million company with offices in 18 countries and 3,800 employees worldwide. Since its founding in 1969, Logica has completed over 10,000 projects in 50 countries around the world. Logica's home page can be found at http://www.logica.com/.>CONTACT: Eithne Egan or Mark Nardone

Logica Inc. PAN Communications, Inc.

(617) 476-8000 (508) 474-0055

egane@logica.com mnardone@pancomm.com