Celero Solutions' Stakeholders Ratify 10-Year Licensing and Maintenance Agreement with Open Solutions Inc.; Licensing and Servicing Deal Worth More Than CDN $45 Million.

GLASTONBURY, Conn. -- Open Solutions Inc. (NASDAQ: OPEN), a provider of integrated, enterprise-wide data processing technologies for banks and credit unions throughout the United States and Canada, today announced that Calgary-based Celero Solutions (Celero), a joint venture between five Canadian prairie cooperative organizations that serves more than 150 credit unions in Canada, has finalized a 10-year licensing rights, reseller and maintenance agreement with Open Solutions for the Canadian version of its enterprise relational data processing platform, The Complete Credit Union Solution(R). The agreement, which received overwhelming approval from Celero's stakeholders in the Canadian provinces of Alberta, Saskatchewan and Manitoba, grants Celero license to market and use The Complete Credit Union Solution to provide outsourcing services to its credit union clients. This agreement represents revenues of more than CDN $45 million (approximately US $38.5 million based on today's exchange rate) to Open Solutions over the length of the agreement and further extends Open Solutions' presence in the Canadian marketplace. A one-time, five-year renewal option could extend the relationship to 15 years.

"This agreement will enable Celero to offer our credit union clients the latest in technology offerings, and to effectively address the needs of Canadian credit unions as well as the global shift within the industry to more open, relational technologies," said Garth Manness, Celero chief executive officer. "We believe that Open Solutions and The Complete Credit Union Solution will provide the Canadian marketplace with a superior information technology platform that will enable our clients to bring unparalleled value and service to their members, while at the same time positioning them for continued success in a very competitive Canadian financial services environment."

Open Solutions Canada President Blair Goulet, said, "We are very pleased and proud about this partnership with a service leader in the Canadian credit union industry. Celero's commitment to their clients' growth and competitiveness aligns perfectly with Open Solutions' commitment to providing an innovative technology platform designed to help financial institutions better compete in an increasingly competitive marketplace. For more than ten years, Open Solutions' open and flexible enterprise core data processing solutions have helped banks and credit unions throughout the United States achieve their strategic business objectives. Now this powerful technology has been enhanced to accommodate the specific business and regulatory needs of Canadian financial institutions. We believe its ability to enable a more powerful and meaningful interaction between a credit union and its members makes it the ideal vehicle to help 'Accelerate Success' for Celero and its clients."

The Canadian version of The Complete Credit Union Solution was introduced in November 2005. Canadianization efforts were focused on three key product areas: retirement accounts; loan and mortgage processing; and regulatory requirements. To localize the core banking product for these specific items as well as the overall Canadian market, additional development work was done to screens, data tables, processes and reports. This localized functionality enhances a proven platform, built around a powerful Oracle(R) relational database that offers credit unions of all membership sizes the technology tools to succeed in a highly competitive financial services marketplace.

Open Solutions Chairman and CEO Louis Hernandez, Jr. said, "We're very excited to conclude this agreement with such a progressive and leading-edge Canadian-focused organization. The strategic partnership between Celero and Open Solutions will further pave the way to working with a larger number of Canadian credit unions as we introduce them to the advanced technologies and services we can offer. Open Solutions is committed to accelerating the move toward open architecture and robust technologies at financial institutions in Canada and abroad. Open Solutions is moving aggressively into the market because there is a need that we believe we can fulfill in helping Canadian credit unions better compete and serve their members. We look forward to our partnership with Celero and to the positive impact that working together will have on the Canadian financial industry."

About Celero Solutions

Celero Solutions was formed in 2003 as a joint venture between five Canadian prairie cooperative organizations. The mandate of Celero is to deliver reliable, innovative and cost-effective information technology products and services to prairie province credit unions, its parent organizations and other clients in the financial services sector.

Celero provides retail and wholesale banking systems, debit and credit card processing services, network management, security, software development and technology procurement services. Operating as a virtual organization, Celero has 350 employees, offices in four cities, three data centers, and an annual operating budget of CDN$60 million.

The owners of Celero are Credit Union Central of Alberta, Credit Union Central of Saskatchewan, Credit Union Central of Manitoba, CU Electronic Transaction Services and Concentra Financial. Together, the parent organizations represent a CDN$28 billion co-operative financial services sector in western Canada.

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, electronic image/item processing, Check 21, interactive voice response, and payment and loan origination solutions. Open Solutions' full suite of products and services is designed to allow banks, thrifts and credit unions in the United States and Canada 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' Web 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. Copyright (C) 2005 Open Solutions Inc. All rights reserved.

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 receive a portion of our revenue from relationships with strategic marketing partners, and if we lose one or more of these marketing partners or fail to add new ones it could have a negative impact on our business. 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 Sept. 30, 2005, as filed with the Securities and Exchange Commission.