AurGroup Financial Credit Union and CINCO Family Financial Center CU form CUSO and Select Open Solutions Core Data Processing Suite.

GLASTONBURY, Conn. -- Shared Resource Technology Group cites flexibility and open architecture as strengths

Open Solutions Inc. (R) (NASDAQ:OPEN), a provider of integrated enabling technologies for financial institutions, announced that Shared Resource Technology Group, a CUSO (Credit Union Service Organization) that was formed between two Ohio-based credit unions, AurGroup Financial Credit Union and CINCO Family Financial Center CU Inc., has selected The Complete Credit Union Solution (R) (TCCUS) for its member institutions' core data processing needs. CINCO is currently migrating from Open Solutions' FiTECH Systems MANAGER GOLD(TM) to TCCUS while AurGroup Financial Credit Union is a new Open Solutions client.

The newly established Shared Resource Technology Group explored the benefits of sharing the cost of acquiring a new core data processing system. After agreeing to select Open Solutions' TCCUS, both credit unions made a strategic decision to form a CUSO, to improve their technologies and reduce overall costs. The newly formed CUSO intends to resell outsourcing services using Open Solutions' technology to credit unions in Kentucky and Ohio with less than 10,000 members.

Open Solutions' open architecture and system flexibility fit the individual needs of Shared Resource Technology Group's growing credit unions. Both credit unions received individual attention from the company, resulting in a mutually beneficial product and service offering. "Open Solutions redefines technology leadership and service provider flexibility in the financial services marketplace," said Peggy Bartlett, vice president and COO of CINCO. "Both of our organizations had aggressive criteria for selecting a core data processing product. I am certain that any credit union executive who has completed a major technology due diligence can understand the potential challenges when two teams of executives and operations staff need to come to a consensus. Open Solutions' technology offering was clearly the better choice for both organizations."

Additional Open Solutions products that Shared Resource Technology Group will offer include: Open Solutions' e-Commerce Banker(TM) a comprehensive package of web-enabled Internet banking and cash management tools, Open Solutions FTI financial accounting suite, Open Solutions' iMagic imaging suite and Open Solutions' Maxxar interactive voice recognition software.

"Open Solutions offered a comprehensive mix of complementary ancillary technologies, and when combined with The Complete Credit Union Solution's flexible architecture, Shared Resource Technology Group's founding institutions got the infrastructure they need to grow," said Mark Wintzinger, CEO of Shared Resource Technology Group and past CIO of AurGroup Financial Credit Union. "The Open Solutions track record as a proven industry leader platform makes us incredibly attractive to other area credit unions looking to join our CUSO and utilize Open Solutions' type of technology."

Fairfield, Ohio-based AurGroup Financial Credit Union also purchased FTI Financial Technologies' Asset/Liability Management and Financial Planning System and the cView, a business-intelligence suite. Wintzinger says the 22,000 member, $142 million credit union outgrew its previous core processor and had difficulties writing interfaces with third party vendors. "With Open Solutions I no longer have to fear the technology complications; I have the freedom to embrace the growth of AurGroup and the expansion of Shared Resource Technology Group."

Additional benefits gained by CINCO Family Financial Center CU include upgrades to its business account offering, service charge and pricing control and ease of administration. The Cincinnati, Ohio-based credit union has approximately 22,500 members and $120 million in assets.

"The Complete Credit Union Solution is designed to adapt to the needs of individual credit unions and enable them to offer personalized products and service to its members," said Gary Daniel, senior vice president and general manager of Open Solutions' Credit Union Group. "Open Solutions is committed to meeting the technological and support needs of the credit union marketplace. We look forward to serving CINCO and Aurgroup, as well as, assisting Shared Resource Technology Group as they mature and expand."

About Open Solutions Inc.

Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications, built on a single centralized Oracle(R) relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, Check 21, interactive voice response and loan origination solutions. Open Solutions' full suite of products and services is designed to allow banks, thrifts and credit unions to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

For more information about Open Solutions, or its financial product line, contact Mickey Goldwasser by email at [e-mail], by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.

Open Solutions Inc.(R) and The Complete Credit Union Solution (R) are registered trademarks of Open Solutions Inc. All other company and product names may be trademarks of their respective owners.

Editors note:

For more information on CINCO Family Financial Center CU Inc. visit www.cinco.org.

For more information on AurGroup Financial Credit Union visit www.Aurgroup.com.

Safe Harbor Statement

Statements made in this press release that state Open Solutions Inc.'s or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. All forward looking-statements are only as of the date of this press release and Open Solutions Inc. undertakes no obligation to update or revise them. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Open Solutions Inc.'s actual results to differ materially from those projected in such forward-looking statements. For example, we could lose existing clients and be unable to attract new business if we fail to adapt our products and services to changes in technology or in the marketplace. Other factors which could cause our actual results to differ materially from those projected in forward-looking statements include, without limitation, economic, competitive, governmental and technological factors affecting the banking and credit union industry and/or Open Solutions Inc.'s operations, markets, products, services, prices, and other factors set forth under the heading "Factors Affecting Future Operating Results" in Open Solutions' Quarterly Report on Form 10-Q for the three months ended June 30, 2004, as filed with the Securities and Exchange Commission.