Sound Software Announces New Electronic Document Delivery Tool, Sound Delivery; Secure Email Solution for Lenders Allows for Nearly Paperless Loan Processing

Business Wire, Oct 25, 2004

GLASTONBURY, Conn. -- Sound Software, Open Solutions Inc.'s (NASDAQ: OPEN) loan origination business unit, announced the availability of a solution designed to enable paperless loan processing. Sound Delivery(TM) allows Sound Software users to process loans in a nearly paperless manner, according to the specific needs of the institution. Sound Delivery users have the ability to print either just the final, signed documents or to print the entire hard copy loan package at any point during the lending process.

Sound Delivery interfaces directly with Sound's consumer and mortgage loan origination software, providing loan originators with an additional delivery method for loan packages. Loan packages are placed on Sound's secure server using a 128-bit connection. An email is automatically generated notifying the designated receiving party that the package is available. The email notice contains an embedded link, allowing the recipient to download the package via a browser-based password screen.

Sound Delivery allows originators to easily set up new branches, virtually allowing access at any internet enabled location. The solution also eliminates the potential for lost or delayed shipping of documents, allowing lenders to better serve customers. Additionally, it can help lenders reduce costs associated with couriers and other shipping methods.

"In the today's competitive lending industry, financial institutions are driven to move to a more paperless environment. Sound Software provides lenders with the ability to process loans in a more cost effective and efficient manner, and make changes to documents without inconveniencing their borrowers."

About Open Solutions Inc.

Open Solutions Inc. (NASDAQ: OPEN) offers a fully featured strategic product platform that integrates core data processing applications, built on a single centralized Oracle(R) relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, Check 21, interactive voice response and loan origination solutions. Open Solutions' full suite of products and services is designed to allow banks, thrifts and credit unions to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

For more information about Open Solutions, or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com, by phone at (860) 652.3153 or via fax at (860) 652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.

Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners.

Safe Harbor Statement

Statements made in this press release that state Open Solutions Inc.'s or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. All forward looking-statements are only as of the date of this press release and Open Solutions Inc. undertakes no obligation to update or revise them. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Open Solutions Inc.'s actual results to differ materially from those projected in such forward-looking statements. For example, we could lose existing clients and be unable to attract new business if we fail to adapt our products and services to changes in technology or in the marketplace. Likewise, the design of other core vendors' software or their use of financial incentives may make it difficult for clients to use our complementary products. Other factors which could cause our actual results to differ materially from those projected in forward-looking statements include, without limitation, economic, competitive, governmental and technological factors affecting the banking and credit union industry and/or Open Solutions Inc.'s operations, markets, products, services, prices, and other factors set forth under the heading "Factors Affecting Future Operating Results" in Open Solutions' Quarterly Report on Form 10-Q for the three months ended June 30, 2004, as filed with the Securities and Exchange Commission.