FXPRESS ANNOUNCES COMPLETION OF FIRST™ CASH MANAGEMENT PHASE ONE

New Module to Be Unveiled At New York Cash Exchange, AFP and EuroFinance Conferences

September 6, 2005 - Bala Cynwyd, PA - FXpress Corporation, a leading provider of treasury risk management software, today announced the release of the first phase of FIRST™ Cash Management, a new module of the FIRST™ Treasury System, FXpress’ fully integrated, web-based treasury workstation. FIRST™ Cash Management will be unveiled to the treasury community this fall at three trade shows, the New York Cash Exchange in New York, NY from Sept. 7-9, the EuroFinance Conference in Berlin, Germany from Oct. 5-7, and the Association for Financial Professionals Annual Conference in San Antonio, TX from Oct. 9-11.

The inaugural phase of FIRSTâ„¢ Cash Management includes integrated functionality to support bank statement management and reporting and operational transaction parsing with integrated cash accounting. This new core functionality provides automated importation and transformation of prior-day and current-day bank statements in multiple formats, including BAI2 and SWIFT. Users can easily assign cash accounting to each operational cash transaction with security-driven transaction and accounting workflow and review capabilities. Other core functionality, including liquidity positioning, in-house bank and cash pooling, and cash flow reconciliation, will be available in the first quarter of 2006.

Other modules of the FIRST™ Treasury System, which was first unveiled at the AFP Annual Conference in 2003, include Foreign Exchange, Debt & Investment and Commodities. The modules work together as one global application that touches an entire organization with secure access to treasury management tasks around the clock from anywhere in the world. FIRST™ allows an entire team to efficiently manage long-term and day-to-day activities, such as accounting compliance (FAS 133/138 and IAS 39), global exposure management, reporting, security and auditing, while central treasury retains firm control over work quality and data security. FXpress offers the installation of the FIRST™ Treasury System on either a SAS 70-compliant ASP platform or on a secure intranet platform within an organization’s corporate firewall.

"The addition of a robust set of cash management tools to FIRST™ has further solidified FXpress’ position as a versatile treasury software provider with a multitude of asset classes effectively covered by one integrated system," said James Gilbert, FXpress Director of Business Development. "Our growing list of multinational clients are already recognizing the value of choosing a provider with expertise in a wide range of treasury areas over niche players in the industry.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development