Connecticut Innovations Honors Open Solutions Inc. for Outstanding Sales Growth.

Business Editors

GLASTONBURY, Conn.--(BUSINESS WIRE)--Oct. 1, 2001

Private investment firm recognizes OSI for more than

40% growth in sales in 2000

Open Solutions Inc. (OSI), a provider of integrated enterprise data processing, Internet banking and e-commerce financial solutions for community banks and credit unions, received the Outstanding Sales Growth Award in the over $5 million category at the Eleventh Annual Connecticut Innovations Technology Exhibition and Dinner.

Connecticut Innovations, based in Rocky Hill, Conn., is the state's leading investor in high technology companies.

"Connecticut Innovations has witnessed the outstanding growth of Open Solutions Inc., as it has evolved from inception to industry leader," said Victor R. Budnick, Connecticut Innovations' President and Executive Director. "It is a company that is certainly making an impact on the growth of Connecticut's technology economy, and we are privileged to have been an investor since its early stages."

"Open Solutions has always set aggressive sales goals; our successes and this award demonstrate the demand for our technology in the financial services sector," Senior Vice President of Sales, Gary Daniel said. "We are committed to providing banks and credit unions with dynamic, industry-impacting technology and service that enables them to better serve their clients, and this award is a reflection of that commitment."

The Outstanding Sales Growth Awards in the over $5 million and under $5 million categories were presented to Connecticut Innovations' portfolio companies that had a significant percentage increase in revenues in fiscal year 2000 compared to fiscal year 1999. OSI achieved a 44 percent increase in revenue in its 2000 fiscal year.

"It is an honor to be recognized for our efforts by Connecticut Innovations," said Louis Hernandez, Jr., Open Solutions' Chairman and CEO. "Our sales growth is testimony to the fact that OSI and its enabling product line have caught on throughout the United States. Industry response to our vision of revolutionizing the financial services sector through innovative solutions has been tremendous."

About Connecticut Innovations

Connecticut Innovations (CI) is a quasi-public organization that strengthens the state's economy by making equity investments in entrepreneurial, high technology companies. Connecticut Innovations also manages funds and initiatives that foster the development of high-growth industries in the state. From 1995 to 2001, CI became the state's leading investor in high-technology companies, investing more than $109 million to attract and retain growing companies, create high-paying jobs and increase Connecticut's intellectual capital.

About Open Solutions

Open Solutions Inc. offers the Open Community Network (OCN), a comprehensive enabling platform that integrates electronic commerce with Internet banking and enterprise core processing applications. OSI's full suite of products and services allows banks and credit unions to better compete in today's aggressive financial services marketplace and tap their trusted financial relationships, customer affinity, community presence and personalized service.

Open Solutions' combination of enterprise core processing applications, electronic commerce, cash management and Internet banking solutions enables community banks and credit unions to leverage technology to expand their customer relationships and capture more of the dollars in their market.

For more information on Open Solutions, or its financial product line, contact Mickey Goldwasser at [phone], via fax at [phone]. Visit OSI's Internet site at www.opensolutions.com.