Open Solutions Inc.

Open Solutions Inc.

August 22, 2005 16:32 ET

Blair Goulet Named President of Open Solutions Canada; Financial Technology Industry Veteran to Lead Canadian Business Unit

GLASTONBURY, CONNECTICUT--(CCNMatthews - Aug. 22, 2005) - Open Solutions Inc.® (NASDAQ:OPEN), a provider of integrated enabling technologies for community financial institutions across the United States and Canada, today announced that Mr. Blair Goulet has been named president of Open Solutions Canada, a strategic business unit of Open Solutions Inc.

As president of Open Solutions Canada, Goulet will be responsible for leading the two Canadian solutions groups - Banking Solutions Group (BSG) and Payment Solutions Group (PSG) - in executing a strong, successful growth strategy for Canada through the achievement of financial, sales and operating goals. Open Solutions Canada operates under the auspices of Open Solutions' International Operations Department and Goulet will report to Wayne Ginn, Open Solutions' vice president of International Operations.

Goulet joins Open Solutions Canada from SOLCORP, the financial services software division of EDS, where he spent the past four years in various senior executive positions. Most recently, he held the position of senior vice president of strategy and operations. In this role, he was responsible for corporate strategy, product strategy, corporate marketing, HR, finance and operations.

Goulet's previous experience also includes more than 15 years of various senior management positions at Xerox and the vice presidency of sales and marketing for a public wireless data communications software and solutions company. "Blair has a proven record in driving business growth," said Wayne Ginn. "He has gained recognition for leading the introduction of new products and services, penetration into new markets, development of new distribution channels, and the exceptional growth of revenues. These are all key components in Open Solutions Canada's growth strategy and we are confident Blair's track record for achieving exceptional results will continue with our organization." Ginn added, "Open Solutions is a company that passionately believes in client-focused and solutions-oriented business philosophies, and when we look for individuals to join our team, we look for someone who shares this commitment. Blair does. We have no doubt that under his leadership Open Solutions Canada will continue its focus on attaining 'client delight'."

"I am very excited about the prospect of joining an organization that consistently demonstrates vision, innovation and service excellence," said Goulet. "Open Solutions is definitely making a name for itself as a technology leader, both in North America and abroad, and I look forward to playing an active role in assisting with the company's continued success and growth." Goulet went on to add, "I'm very pleased to be joining an organization known for its exceptional service to its clients. I firmly believe superior customer service is the cornerstone of business success and will make it a priority at Open Solutions Canada."

Open Solutions Canada's Vancouver, BC-based Banking Solutions Group provides core data processing and related services to more than 80 financial institutions - primarily credit unions - throughout the Canadian provinces. Its Payment Solutions Group, based in Oakville, Ontario, currently runs Canada's largest off-premise ATM network and is the country's largest processor of independent POS terminal transactions.

"We are pleased to welcome Blair to the Open Solutions team. His demonstrated record of success, management style and industry experience will be important in guiding and expanding our ongoing efforts to meet the growing demand for our technology products and services within the Canadian marketplace," said chairman and CEO of Open Solutions Louis Hernandez, Jr. "We believe Blair possesses the professional qualities, client-focus and expertise required to further advance our mission within the financial services arena and I look forward to working with him."

About Open Solutions Inc.

Open Solutions Inc. offers a fully-featured strategic product platform that integrates core data processing applications, built on a single centralized Oracle® relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, Check 21, interactive voice response, and payment and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts and credit unions in the United States and Canada to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service. Currently, Open Solutions serves more than 3,600 financial institutions in the United States and Canada.

For more information about Open Solutions, or its financial product line contact Mickey Goldwasser by email at by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at

Open Solutions Inc. and The Complete Banking Solution are registered trademarks of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2005 Open Solutions Inc. All rights reserved.

Safe Harbor Statement

Statements made in this press release that state Open Solutions Inc.'s or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. All forward looking-statements are only as of the date of this press release and Open Solutions Inc. undertakes no obligation to update or revise them. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Open Solutions Inc.'s actual results to differ materially from those projected in such forward-looking statements. For example, we face risks associated with our Canadian operations that could harm our financial conditions and results of operation. Factors which could cause our actual results to differ materially from those projected in forward-looking statements include, without limitation, economic, competitive, governmental and technological factors affecting the banking and credit union industry and/or Open Solutions Inc.'s operations, markets, products, services, prices and other factors set forth under the heading "Factors Affecting Future Operating Results" in Open Solutions' Quarterly Report on Form 10-Q for the three months ended June 30, 2005, as filed with the Securities and Exchange Commission.

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