AIB Govett Implements Decalog's IDEE for Global Front Office Support; IDEE Installed in Three Months.

BOSTON--(BUSINESS WIRE)--July 7, 1998--Decalog, an international supplier of investment management solutions, announced today that it has successfully implemented IDEE at AIB Govett in London, just three months after the system was selected earlier this year.

Fund managers at AIB Govett's offices in London and Singapore are using IDEE to analyze their portfolios and to generate orders based on sophisticated portfolio modeling. These orders are processed in IDEE and the resulting executions are transmitted electronically to the back office.

The AIB Asset Management Group is the investment management arm of Allied Irish Banks, p.l.c. AIB is Ireland's largest financial services group with total assets of more than US$55 billion and total funds under management of over US$30 billion. AIBAM has 356 staff worldwide, of whom 89 are fund managers. It has offices in Dublin, London, San Francisco, Singapore, Jersey, Budapest, Mexico City and Bangalore. More than 110 different funds are managed from London, Dublin and Singapore, ranging in scope from cash, fixed interest and large capitalization equities to more specialist far eastern, smaller companies and emerging markets. It is also a major provider of charity and pension fund management.

"Our decision to select IDEE from Decalog has proven to be an excellent one," commented Paul Delaney, Group Head of Technology at AIB Asset Management. "In January we gave Decalog our deadline. We needed to be up and running on IDEE by the 20th May in time for our change of back office systems. Decalog has delivered on its page 2/Decalog at AIB commitment and helped us to achieve that deadline. We also needed a system which we were confident would support the Euro. With its extensive experience in the European markets, Decalog has a good understanding of the issues involved."

In order to guarantee the success of the project, AIB Govett developed interfaces from IDEE to not just one back office system but two. "Interfacing to and from IDEE was an important factor in our success," said John O'Mahony, who managed the implementation. "We initially interfaced IDEE to the older Quasar back office system as a way of reducing project risk. We then replaced Quasar with Paladign during May of this year."

Ruairi Ross, Sales Director of Decalog (UK) Ltd. said "The AIB Govett teamwork has been outstanding. This early success in the UK will give many people confidence in Decalog's ability to deliver. We are in a strong position to establish IDEE as a leader in the investment management systems market." Delaney adds, "There is a window opportunity in the market for a supplier who can successfully implement an integrated front office investment management system. With its superb global client list Decalog looks well-placed to capitalize on that opportunity."

DECALOG, a subsidiary of OSHAP TECHNOLOGIES, LTD., is a leading provider of software products and related consulting services for front and middle office needs of global asset management firms, banks, and brokers. Decalog's product line IDEE is a multi-tiered Client/Server application, which uses relational database technology and operates under UNIX or Windows NT. It covers a complete range of investment instruments, including equities, bonds, options, futures, swaps, repos and money market instruments, as well as stock lending and borrowing. It supports fund managers in modeling and re-balancing funds, automatic order generation and compliance. The product line includes a complete trading product as well as a real-time performance measurement and attribution product. page 3/Decalog at AIB

OSHAP TECHNOLOGIES LTD. (the "Company" or "OSHAP") is a growth-oriented software group. OSHAP focuses on companies with advanced technologies and potential leadership positions in high-growth, worldwide software niches. OSHAP holds 27.4% of the shares of Tecnomatix Technologies Ltd. ("Tecnomatix"), an Israeli corporation whose shares are traded on the NASDAQ National Market System (Symbol/TCNOF) which is a leader in the market for CAPE software products. OSHAP is also the majority shareholder in two smaller yet growing software companies providing solutions for certain segments of the financial market-a 77.1% interest in Decalog B.V. ("Decalog"), a Dutch company which provides software products and consulting services for portfolio management operations, specifically to large financial institutions, and an 81.5% interest in MINT Technologies (1984) Ltd. ("MINT"), an Israeli corporation which develops and markets intelligent information flow solutions for use in financial institutions.

    CONTACT: Decalog, Inc.
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