SOURCE: OpenPages

May 03, 2005 11:05 ET

Financial Guaranty Insurance Company to Deploy OpenPages Sox Express for Sarbanes-Oxley Compliance

WALTHAM, MA -- (MARKET WIRE) -- May 3, 2005 -- OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced that Financial Guaranty Insurance Company (FGIC) has selected OpenPages Sarbanes-Oxley Express (SOX Express) for its Sarbanes-Oxley compliance initiatives. FGIC will deploy SOX Express to automate the company's ongoing test and review of its internal controls documentation in order to reduce the time and resource costs associated with Section 404 and 302 compliance.

For two decades, FGIC has enjoyed an unsurpassed reputation for financial strength, underwriting discipline and superior client service. As a leading financial guaranty insurance company, FGIC provides triple-A credit enhancement on public finance, structured finance and asset-backed securities, enabling bond issuers to obtain capital cost effectively and enhancing their access to the capital markets.

"Based on the strength of its product, we view OpenPages as the leader in delivering Sarbanes-Oxley compliance solutions," said Lisa Lesko, vice president at FGIC. "With its easy-to-use interface and compliance automation functionality, we expect SOX Express to reduce the burdens associated with ongoing compliance."

OpenPages SOX Express is an enterprise compliance management solution that reduces the time and resource costs associated with ongoing compliance for Sections 302 and 404 of the Sarbanes-Oxley Act. SOX Express combines powerful document management, business process management and flexible reporting capabilities in an extremely easy-to-use environment that enables an organization to document financial controls and automate the ongoing test and review process. Completely web-based, SOX Express maximizes end-user participation with little training. Its dashboards can be used by project managers, documentation team members, internal auditors and external auditors to plan, document and test the internal controls framework of the company, and to attest to the financial statements.

For more information on OpenPages' line of enterprise governance, risk and compliance management solutions or to register for a weekly webinar, please call 781-647-3800 or visit www.openpages.com.

About OpenPages

Founded in 1996, OpenPages develops enterprise governance, risk and compliance management (GRCM) solutions that streamline knowledge-intensive processes to improve corporate accountability, reduce disclosure process cost, enhance internal controls management productivity, and increase investor confidence. The company's portfolio of solutions includes Sarbanes-Oxley Express (SOX Express), the market-leading enterprise application for automating the corporate financial reporting and disclosure compliance requirements of Sections 404 and 302 of the 2002 Sarbanes-Oxley Act.

OpenPages is a trademark of OpenPages, Inc. All other trademarks contained herein are the property of their respective owners.

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