Euroclear Selects Axiom Software Laboratories for Risk Management

New York, NY, Wednesday, March 13, 2002- Axiom Software Laboratories announced today that Euroclear, Europe's first and largest clearance and settlement house for global traded securities, has implemented RiskMonitor® and IntegrationCenter™ to support the risk management activities of its banking operations. Axiom products will also serve its market risk data warehouse function. The Market Risk and Data Warehouse initiatives are part of a larger treasury system implementation project at Euroclear Bank. These expanded data and risk functionality requirements led Euroclear to Axiom's selection among several other vendors.

"We needed to replace our previous risk management solution and our team's decision was driven by Axiom satisfying a broad mix of criteria like functionality, implementation and on-going support track record, people and cost efficiency." said Euroclear Bank's Risk Management Manager, Eric de Spirlet, 'Something that really impressed us was their quick response to a test case given to all vendors and Axiom's ability to deliver results quickly. The implementation was also on time and budget."

"Axiom's dynamic data management capabilities have again made the difference", says Don Mumma, Managing Director at Axiom. "It means we can offer and execute the best value to our clients with the functional and instrument coverage flexibility they need, when they need it. We look forward to being a key partner with Euroclear as they expand and enhance their market risk management capabilities."

About Euroclear:

Euroclear is the world's largest settlement system for domestic and international securities transactions, covering both bonds and equities. Euroclear provides securities services to major financial institutions located in more than 80 countries worldwide. It is a leading driver of the consolidation in Europe's fragmented securities settlement industry. In 2000, the Euroclear group had combined turnover of almost EUR 100,000 billion, while the total value of securities held in custody exceeded EUR 7,000 billion. Euroclear Bank was launched on 31 December 2000, when it assumed the Euroclear operating and banking roles previously carried out by Morgan Guaranty Trust Company of New York. Market owned and governed by more than 1,500 user shareholders, Euroclear Bank is rated AA+ by both S&P and Fitch.

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.