Warburg Pincus Backs Management Team to Build Transaction Processing Powerhouse in Treasury and Capital Markets; Wall Street Systems and Trema Acquired as Market Leaders in Treasury, Foreign Exchange and Global Back-Office Systems

Business Wire, August 1, 2006

NEW YORK & LONDON -- An experienced team of financial services executives, backed by Warburg Pincus, the global private equity firm and an experienced investor in financial technology, has established a business that has already become the dominant force in treasury and capital market transaction processing, with the acquisition of two market leaders, Wall Street Systems and Trema. Since January 25th, Wall Street Systems raised in excess of $200 million through debt and equity financing.

The combined organization, which will operate under the name Wall Street Systems, has revenues of $120 million, with approximately 500 employees servicing 300 bank, corporate and central bank clients, operating out of 13 offices worldwide. Already the company's software processes millions of transactions and hundreds of billions of dollars, each and every day.

The executive management team includes:

--President and CEO Joel Mandelbaum, formerly President of Thomson Market Information Services at Thomson Financial,

--Managing Director for Marketing and Products Larry Ng, formerly Co-Founder and EVP of Corporate and Business Development at Moneyline Telerate,

--Managing Director for Sales and Account Management Michele Fitzpatrick, formerly CEO at Trema,

--Managing Director for Technology and Development Michael Gort, formerly CEO of the Student Loan Finance Corporation,

--Managing Director for Professional Services Paul Wheeler, formerly CFO at Trema;

--Chief Financial Officer Karl Jaeger, formerly CFO of TF Database Group, a division of Thomson Financial.

Together, the executive team has more than 100 years of experience and a proven track record for building and growing successful businesses across a range of financial services.

"The market stands to benefit as two industry leaders come together to create a compelling force in the treasury space," said Sang Lee, Co-founder and Managing Partner at Aite Group, LLC. "The critical mass behind the combined focus of these two treasury specialists, supplemented by their existing installed base and expertise in FX and back office transaction processing, makes the new, stronger company well-positioned to capitalize on global opportunities and better serve an increasingly diverse customer base."

Joel Mandelbaum, President and CEO at Wall Street Systems said, "Wall Street Systems and Trema are undisputed leaders in treasury, foreign exchange and back office solutions. Our vision is to deliver flexible, functionally-rich, seamless and scalable transaction processing solutions to help clients improve their workflow and greatly reduce their transaction costs. The new Wall Street Systems is now perfectly positioned to meet the demanding infrastructure needs of the increasingly competitive and complex financial marketplace."

Wall Street Systems is already recognized as the market leader in high performance transaction processing software to a broad range of financial institutions and major multinational corporations. It has an outstanding reputation for its quality and responsive service, and prides itself in helping clients achieve long lasting benefits and results. Trema's treasury solutions have set a new standard for the industry in flexibility and ease of use. Its popular TremaSuite(TM) and TremaOne(TM) treasury products are used by 250 clients in hundreds of locations throughout the world.

Michele Fitzpatrick, Managing Director for Sales and Account Management, said, "The combined companies will be a formidable force in the industry, a provider able to satisfy all needs, from the most basic treasury requirements to the most complex, high throughput trading and back-office environments. Trema will appreciably enhance its delivery capacity in the U.S., where we see very strong momentum, while Wall Street Systems strengthens its presence in Europe."

The roster of blue-chip clients include banks, including ABN Amro, Citigroup, Nordea and RBS; corporations, including British Petroleum, Ford, GE Capital, HP, Lucent, Merck, Philips, Porsche and Procter & Gamble; and central banks, including the European Central Bank and Banque de France.

"Wall Street Systems is now one of the best positioned companies in the financial technology space. We are excited about its growth prospects and look forward to continuing to provide strong financial support," said Cary Jay Davis, Managing Director at Warburg Pincus.

The two businesses are naturally aligned, profitable and complementary in vision, culture and business practices. As the result of this transaction, Wall Street Systems becomes the global leader in the treasury and capital markets transaction processing space. Terms of the transaction were not disclosed. Integration is expected to be complete by the end of the year.

ABOUT WALL STREET SYSTEMS

Wall Street Systems has a 20 year heritage and track record for providing high performance transaction processing software to the world's leading financial institutions and corporations. Its clients include ABN Amro, Citigroup, Nordea, RBS, British Petroleum, Ford, Hewlett Packard and Procter & Gamble. The Company is recognized for its ability to manage multiple entities, currencies and asset classes across the enterprise using one global instance of the software. Wall Street Systems' software processes millions of transactions aggregating to hundreds of billions of dollars each and every day. It has an outstanding reputation for its quality and responsive service, provided by over 200 dedicated and experienced professionals. Wall Street Systems prides itself in going the extra mile for its clients, helping them to achieve long lasting benefits and results. Wall Street Systems is a privately held corporation, which is majority owned by Warburg Pincus. For more information, please visit www.wallstreetsystems.com