AXIOM SL AWARDED U.S. PATENT FOR ITS "SYSTEM AND METHOD FOR DETERMINING VALUE AT RISK OF A FINANCIAL PORTFOLIO"

New York, Thursday, February 5, 2001 - Axiom Software Laboratories is proud to announce that it has been awarded a Patent by the U.S. Patent Office for its revolutionary technology for Determining Value at Risk of a Financial Portfolio.

This patented technology elaborated by Axiom's Financial Engineering team headed by Leon Gugel, enables the simultaneous calculations of both Value at Risk and the degree of its accuracy. With this technology, Axiom clients will also have the capability to estimate loss levels beyond VaR along with the probability of their occurrence.

Based on Axiom SL's new exciting and innovative techniques, portfolio managers gain an additional level of analytical insight into making asset allocation and portfolio optimization decisions by seeing profit potential, risk of losses and economic capital requirements.

Axiom SL has incorporated this new and powerful feature into RiskMonitor® - Axiom's enterprise risk management system. According to Alex Tsigutkin, CEO of Axiom SL, "With Axiom's policy of keeping its previously released software products on the cutting edge of technology, current RiskMonitor® clients can get this new functionality as a free upgrade to their existing RiskMonitor system. Of course, new customers will be able to take advantage of this breakthrough technology within the newest version of RiskMonitor."

About Axiom Software Laboratories Inc.

Axiom Software Laboratories has been in the front line of the software industry in developing solutions for true enterprise-wide risk, data management, financial control, compliance monitoring, and reporting. Axiom's proven technology fully meets the rigorous challenge of adapting to different data environments so that mission critical activities can be performed across an organization's entire line of business. Axiom is staffed with skilled, experienced professionals, who are experts in a range of key disciplines, including risk management, database and middleware technology, financial applications, internet expertise and financial engineering. Axiom serves major global financial institutions, large corporations, asset managers and energy companies.