London, March 11th 2003 - Rolfe & Nolan, the leading supplier of processing technology for futures and options markets, announced today that it has installed its RANmargin product as a real-time risk management component at Unicredit Servizi Informativi, the information technology division of UniCredito Italiano Group. The solution delivers robust and scaleable risk management functionality for listed derivatives.

Unicredit Servizi Informativi (USI), an existing Rolfe & Nolan customer, is using RANmargin as a risk management component in its order routing system to handle intra-day margin calculations. RANmargin has been integrated and tested and is now successfully running live. USI will also be using RANmargin as the margin engine for its European central counterparty (ECCP) project, with a scheduled live date of Spring 2003.

RANmargin handles over 50 exchange margin methods and can be run on a variety of platforms including SUN/UNIX, Windows 2000/NT and OpenVMS. RANmargin has been used by major investment banks for over 6 years for the calculation of margin on exchange traded derivatives and in its most recent margin server form provides key functionality for the calculation of ECCP margin and margin offset between equity and derivative positions.

The derivatives unit manager of Unicredito Servizi Informativi commented:

"RANmargin`s modular design, scaleability and processing speed made it a strong contender for our needs. Its server framework has enabled it to be installed smoothly."

Patrick Liardet, Component Development Manager at Rolfe & Nolan said:

"We are obviously delighted that Unicredit Servizi Informativi has chosen to leverage the powerful margin-on-demand functionality of our server-based API. RANmargin`s true sub-second round trip margin performance enables Unicredito to bring industry standard risk measures such as TIMS and SPAN into their pre- and post-trade risk management environment."