SOURCE: Kamakura Corporation

March 19, 2008 10:00 ET

Russia's Alfa-Bank Licenses Kamakura Risk Manager for Asset and Liability Management

HONOLULU, HI--(Marketwire - March 19, 2008) - Kamakura Corporation reported today that Alfa-Bank, headquartered in Moscow, has licensed the Kamakura Risk Manager software system for asset and liability management, market risk management, and transfer pricing. Fiserv IPS-Sendero led the implementation of the KRM system, which has already been completed. Alfa-Banking Group has 280 offices across Russia and abroad. The Group also operates through subsidiary banks, affiliate and branch offices in Kazakhstan, the Netherlands, Cyprus, the U.S. and the United Kingdom and serves more than 2.6 million individual and more than 51 thousand corporate clients. Alfa-Bank had more than $17 billion U.S. dollars in assets as of June 30, 2007. Alfa-Bank is the second major banking organization in Russia to sign for Kamakura Risk Manager in 2008.

"At Alfa-Bank, we place the highest priority on the accuracy and sophistication of risk management," said Mehdi Shirazee, Group Treasurer at Alfa-Bank. "We have the highest respect for the financial engineers and computer scientists who have designed the Kamakura Risk Manager system over Kamakura's 18-year history. With KRM at Alfa-Bank, we can immediately move to the front ranks in risk management world-wide. State-of-the-art interest rate risk management is critical to our success."

"There is no financial services organization in the world which has more expertise in computer science and finance that Alfa-Bank," said Warren Sherman, Kamakura President and Chief Operating Officer. "The collaboration between Alfa-Bank and Kamakura on further enhancements in KRM's multi-threaded risk processing has been enormously productive for both parties. The continuous speed enhancements in KRM will substantially benefit Kamakura clients around the world. Alfa-Bank's contribution to these enhancements has earned the Bank a warm welcome from the very large KRM user group in Europe and the rest of the world."

About Alfa-Bank

Alfa-Banking Group is one of Russia's largest privately owned banking groups in terms of equity, assets, branches, retail deposits and funds under management. Founded in 1990, Alfa-Banking Group offers a wide range of products and operates in all sectors of the financial market, including corporate and retail lending, deposits, payment and account services, foreign exchange operations, cash handling services, custody services, investment banking and other ancillary services to corporate and retail customers.

Alfa-Banking Group recorded strong growth of its total assets to US$ 17.1 billion as of June 30, 2007, up 12.6% from US$ 15.2 billion at the end of 2006. Net profit after tax for the first six months grew by 0.7% to US$ 115.6 million, up from US$ 114.8 at June 30, 2006. The Group's total gross loan portfolio grew to US$ 11.8 billion at June 30, 2007, a 20.8% increase compared to US$ 9.8 billion at December 31, 2006. The corporate loan portfolio rose by 17.9% to US$ 10.6 billion, while loans to retail clients increased by 52.6% to US$ 1.2 billion at June 30, 2007. The retail loan portfolio share of total loans of Alfa-Banking Group increased to 10.5%, compared to 8.3% at the end of 2006. For more on Alfa-Bank, please see www.alfabank.com.

About Kamakura Corporation

Founded in 1990, Kamakura Corporation is a leading provider of risk management information, processing and software. Kamakura has been a provider of daily default probabilities and default correlations for listed companies since November 2002. Kamakura launched its collateralized debt obligation (CDO) pricing service KRIS-CDO in April 2007. Kamakura is also the first company in the world to develop and install a fully integrated enterprise risk management system that analyzes credit risk, market risk, asset and liability management, transfer pricing, and capital allocation. Kamakura has served more than 160 clients ranging in size from $3 billion in assets to $1.6 trillion in assets. Kamakura's risk management products are currently used in 25 countries, including the United States, Canada, Russia, Germany, the Netherlands, France, Austria, Switzerland, the United Kingdom, Poland, Eastern Europe, the Middle East, Africa, Australia, Japan, China, Korea and many other countries in Asia. Kamakura has world-wide distribution alliances with IPS-Sendero (www.fiservips-sendero.com) and Unisys (www.unisys.com), making Kamakura products available in almost every major city around the globe.

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