Upon Success of Risk Solution Wachovia Selects Asset Control for Centralized Reference Data Management

US’s fourth largest banking holding company confirms confidence by awarding second contract to Asset Control

NEW YORK, September 5, 2005 – Wachovia Corporation, the USA’s fourth largest banking holding company, has extended its relationship with Asset Control with its selection of the company’s AC Plus solution for reference data management for its Corporate and Investment Banking division. This follows the successful implementation of Asset Control’s software earlier this year to consolidate multi-source price data for risk management.

As a result of a comprehensive research and evaluation effort for the right solution to their reference data project, AC SecurityMaster, a configuration of modules from the AC Plus modular framework, will be implemented in Wachovia’s Corporate and Investment Bank. The solution will centralize the management of Wachovia’s security reference data, resulting in consistent information across systems and reduced data management costs.

Ger Rosenkamp, CEO of Asset Control, adds "We are proud to be Wachovia’s chosen solution provider for this second strategic project. Wachovia’s endorsement of our software and service quality reflects the effort we make to ensure our customers gain a fast return on their investment in us. We are thrilled to be expanding our relationship with this respected organization."
Asset Control in-house solutions for reference data and Basel II data, will be demonstrated this week at SIBOS in Copenhagen, Booth #C210, September 5 through 9.

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