04/22/2005

RINA Systems on March 31, 2005 released HedgeFacts® their new integrated fund administration, performance and risk reporting system for the alternative investment industry. Originally created for and in cooperation with a large multi-strategy hedge fund operation, where it is presently in use, HedgeFacts is now available to the alternative investment community.

HedgeFacts is a fully integrated alternative investment technology platform which offers powerful performance reporting, portfolio analysis, and risk analytics tools along with streamlined and automated fund administration and accounting functions. Now hedge funds and CTA's can utilize fund administration and accounting, performance reporting, and risk analytics over a common database of aggregated trading, broker, investor, and return information. HedgeFacts allows managers to minimize operational and regulatory risks, increase efficiency, reduce costs, and respond quickly to investor, audit, compliance and other inquiries.

While the alternative investment industry has continued to expand dramatically in recent years, it remains an industry underserved by technology vendors, especially as it relates to the integration of key business functions. HedgeFacts greatly reduces the need to acquire and integrate disparate applications saving both time and money. Moreover, this integration allows for more streamlined operations with capabilities such as same day NAV and pro-rata exposure reporting to clients and fully automated dual-data trade reconciliation.

Commenting on the upcoming release, Leo Zamansky, President of RINA Systems stated, "We believe HedgeFacts will make a dramatic difference in the quality and efficiency with which alternative investment management firms run their operations. HedgeFacts provides fund managers with the ability to deploy a robust and scalable infrastructure at a competitive cost, on a single platform". He added, "We are seeing increased demand for seamless automation from post trade acquisition of broker data all the way to client services such as performance and risk reporting, and daily NAV statements."

Built using the latest Microsoft technologies, HedgeFacts resides on a secure web-based platform - allowing fund managers to operate a virtual office from anywhere in the world. HedgeFacts can be deployed at RINA's secure hosting center or on a client's own technical environment.

About RINA Systems:

RINA Systems, Inc. is a software development organization specializing in products and services for the financial services industry and alternative investment community. RINA Systems is headquartered in Cincinnati, Ohio with offices in Seattle and New York, and clients in over 30 countries. Our software products include HedgeFacts, an integrated alternative investment management and administration package, as well as a full suite of award winning portfolio back-testing applications for quantitative traders.