July 15, 1999, New York "Charles River Trading System, a robust buy-side multi-currency order and trade management system for investment managers will incorporate TechHackers' state-of-the-art analytics", TechHackers president Atul Jain announced today. This agreement between TechHackers, a New York financial software firm, and Charles River Development, a Massachusetts based software company, means traders and portfolio managers will now have access to an enhanced version of CRD's order and trade management system, according to Mr. Jain.

The Charles River Trading System is capable of processing trades for all security types, including equity, fixed income, money market and derivatives and is closely integrated with Charles River Development's ComplianceMaster product. TechHackers' Bond and MBS QuantTools libraries will be embedded in the trading system and will provide enhanced pricing and risk analytics.

"We chose QuantTools after a rigorous hands-on evaluation of a number of competing products. TechHackers' solution clearly outperformed all other available products when measured by accuracy, completeness, ease of integration, and speed, and also provided the best ongoing support," said Peter Lambertus, President of Charles River Development. "Incorporating TechHackers' QuantTools engine into the Charles River Trading System gives our users unparalleled access to industry proven calculations and state of the art analytics for the fixed income portion of their portfolios. With the explosive growth in the variety and complexity of fixed income instruments, we need a modern, technically advanced solution that provides virtually unlimited coverage for all kinds of domestic and foreign instruments, both for today and tomorrow. Given the experience and resources behind the QuantTools product, our clients can be sure they are getting the most accurate and extensive fixed income support available in any trading system on the market," Mr. Lambertus added.

"Traders and portfolio managers are looking forward to using this sophisticated fixed income tool," said TechHackers president Mr. Jain. "Traders have already had a strong record of success using the Charles River Trading System, and the inclusion of TechHackers' analytic expertise puts this system at the forefront of buy-side trading systems."

Charles River Development, based in Woburn, MA, is a leading vendor of global order management systems, and CRD is the leading vendor of compliance monitoring systems, with over $3 trillion in assets monitored. The Charles River Trading System, CRD's front-office system for investment managers, offers comprehensive portfolio management and trading functionality for all asset classes. Major CRD customers for these systems include Bank of New York, Brown Brothers Harriman, The Capital Group, Chase Asset Management, Janus Funds, Northern Trust Company, Oppenheimer Funds, Salomon Smith Barney, Travelers Insurance, and The Vanguard Group. For more information, visit the CRD website, www.crd.com.

TechHackers is a software engineering and technology consulting company that designs and implements enterprise systems for trading, portfolio & risk management, and financial operations for the world's leading financial services firms. TechHackers has served as system designer and consultant to such industry leaders as Citicorp Investment Bank, Goldman Sachs, Greenwich Capital Markets, Lehman Brothers, Nomura Securities, Rabobank and Union Bank of Switzerland. TechHackers' line of financial calculation libraries, QuantTools analytic modules and @nalyst spreadsheet add-ins are the leading off-the-shelf analytic software components for developing proprietary trading and risk management systems and spreadsheets. They are currently used by market professionals and system developers at over 3,000 firms worldwide. For more information, visit their website, www.thi.com.