Credit Lyonnais Selects Axiom Software Labs, Inc. for Regulatory Reporting

New York, Monday, January 6, 2003 - Axiom Software Laboratories, Inc. is pleased to announce that Credit Lyonnais has selected ControllerView® suite for regulatory compliance, financial reporting and data warehousing platform as its next generation regulatory and financial reporting solution for the Americas. This system selection was a result of a very thorough evaluation process that included several products from US and foreign based competitors.

ControllerView® suite will provide Credit Lyonnais’ Controllers department with complete coverage and functionality for banking and securities regulatory and financial reporting requirements including Federal Reserve Bank, Departments of Treasury, State Banking regulators, SEC, Tax authorities and head office. ControllerView® installation will be closely coordinated with several other projects including the new Oracle GL implementation and will provide a central data warehouse and reporting environment by integrating seamlessly all reference data, transaction processing and accounting systems of Credit Lyonnais.

ControllerView® integrates all data from multiple source systems into the Axiom SL Dynamic Data Warehouse® and empowers users with Visual Business Rules for financial reporting transparency and flexibility. The institution can then easily adapt to changes in regulatory, corporate and systems environment resulting from new regulations, new systems or corporate events such as mergers and acquisitions. The complete transparency of sources and aggregated data satisfies the most rigorous audit requirements ensuring confidence among users, regulators, auditors and management.

“We welcome Credit Lyonnais as a new client and look forward to rapid implementation of ControllerView® to deliver immediate benefits of an efficient and automated reporting environment,” says Alexander Tsigutkin, President and CEO of Axiom Software Laboratories, Inc.

About Axiom Software Laboratories, Inc.

In business since 1989, Axiom Software Laboratories (Axiom SL) is a leader in developing software solutions for true enterprise-wide risk, data management, regulatory reporting, compliance monitoring. Axiom SL's proven technological advancement continues to solve the rigorous challenges of its diverse clientele in adapting different data environments allowing mission-critical activities to be performed across an entire enterprise.

Axiom SL's experienced staff is comprised of skilled professionals, experts in a range of key disciplines, including risk management, database and middleware technology, financial applications, Internet technology and financial engineering. The company serves major global financial institutions, large corporations, asset managers and energy companies.