Toronto/Johannesburg/London - 20th May 2009 - Algorithmics today announced that Absa Bank Limited, a leading South African bank affiliated with Barclays Capital, has licensed Algorithmics' market risk solution for use by its investment bank, Absa Capital. Absa Capital, already an Algorithmics' customer, will use advanced components in Algo Market Analytics as its enterprise-wide market risk solution.   Algo Market Analytics will build onto Absa Capital's existing risk system and provide an end-to-end market risk solution that provides intuitive risk information to a broad user base. It will be fully integrated into Absa Capital's existing infrastructure and will align with Barclays Capital technology standards and the Group risk management requirements.

"We are delighted that Absa has signed this important contract with Algorithmics. In today's complex and volatile markets, where pro-active enterprise risk management creates a decisive competitive advantage, access to the best market analytics is a pre-condition for effective innovation and risk aware, profitable growth," commented Dr Michael Zerbs, President and COO at Algorithmics.

Dr Andrew Aziz, Algorithmics' Executive Vice President of Risk Solutions, said: "We are working together closely on the design of Absa Capital's market risk solution and look forward to completing the first phase of the project. With Algo Market Analytics, we believe that Absa is gaining a competitive edge in managing market risk." 

Algo Market Analytics supports market risk capital measurement, management and mark-to-market, enabling calculation of minimum capital under standardized and internal model approaches. By enabling a firm to capture a fully integrated view of risk, Algo Market Analytics helps financial institutions eliminate the costs and inconsistencies that result from accommodating multiple systems and competing standards across the enterprise.

For more information about Algorithmics' market risk solutions, visit: http://www.algorithmics.com/EN/solutions/integratedmarketrisk/1-integrated.cfm

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Absa Capital - a South African investment bank with global reach - provides financing, risk management and advisory solutions in a wide range of currencies and structures. Absa Capital is a division of Absa Bank Ltd and is affiliated to Barclays Capital.  

Absa Group Limited is one of South Africa's largest financial services organizations, serving personal, commercial and corporate customers in South Africa. The Group interacts with its customers through a combination of physical and electronic channels, offering a comprehensive range of banking services, (from basic products and services for the low-income personal market to customized solutions for the commercial and corporate markets), bancassurance and wealth management products and services.  

Algorithmics is the world's leading provider of risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. www.algorithmics.com  

Algo Market Analytics supports market risk capital measurement, management and mark-to-market, enabling calculation of minimum capital under standardized and internal model approaches. Algo Market Analytics captures and consolidates exposures arising from multiple risk factors including interest rates, equity markets, credit spreads, volatilities, FX, power and commodities. The range of risk analytics offered includes stress testing, simulation-based scenario generation, aggregation, drilldown and portfolio optimization. Since 1996, firms have used Algo Market Analytics to secure regulatory approval for their Internal Models Approach (IMA).  

Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings' global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London. The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions. The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com  www.algorithmics.com and www.fimalac.com

For further information please contact:
Heather Smith,
Senior Communications Manager,
Algorithmics (UK) Ltd
Direct line +44 (0) 20 7392 5820 
Mobile +44 (0) 7515 974223
E-mail Heather.smith@algorithmics.com  

© Press Release 2009