First Union National Bank Uses Infinity's Montage to Expand Derivatives Trading Business.

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Sept. 27, 1995--Infinity Financial Technology, Inc., leading provider of adaptive open systems to the financial services industry, today announced that First Union National Bank has standardized on Infinity's Montage(r) Data Model, Fin++ Class Library and applications.

First Union's system is fully deployed and operational in the bank's Charlotte, North Carolina, headquarters. It runs on Sun Microsystems workstations and uses a relational database management system (RDBMS) from Sybase, Inc.

Jim Rogers, senior vice president, First Union National Bank, said, "Infinity's Montage provides immediate value, allowing trading operations like First Union's to get up and running right away. It is extendible and will grow with us as we continue to build our derivatives business."

The Bank is using Montage on three fronts:

--Montage is the foundation for the bank's derivatives trading system. First Union entered the derivatives business three years ago to provide customers with the ability to hedge risks. The bank currently offers hedging instruments in interest rates, foreign exchange and commodities.

--Montage serves as a central database for the derivatives desk. Data from other systems, including spreadsheets such as Applix, is consolidated into Montage for operational use. This allows the front office to develop new products quickly while providing a stable, consistent database for risk, credit, accounting and operational system development.

--The Montage Data Model will be used as a data warehouse for developing credit and risk models, such as Value at Risk (VAR).

Rogers added: "We liked the fact that the Montage is open. We were able to add new products, develop our own models and provide users with customized functionality and reporting. The Fin++ Class Library enabled us to develop our own products without starting from scratch. Also, we were able to easily find technical people with relevant experience to join our development team because the system is based on industry standards such as C++ and Sybase."

Roger Lang, chief executive officer, Infinity Financial Technology, Inc., said, "Infinity's Montage software gives the bank the flexibility to make a technology investment now that won't become obsolete as the bank expands its scope from being solely a regional bank to one that also offers money-center banking functionality."

Infinity's software toolkits form the foundation of the Montage family of products. They include the Montage Data Model, a treasury data warehouse, and the Fin++ Class Library, a set of C++ financial objects. These toolkits provide a technology platform for custom development and are used for building a wide variety of financial applications, including global market and credit risk management systems and front- to back-office trading systems.

Montage also offers a suite of front-end applications used for derivatives pricing, hedging, deal capture, risk management and operations processing. Montage integrates object-oriented programming and relational database technology within a client/server architecture and is available on standard Unix platforms.

First Union Corp. is the nation's ninth largest bank holding company with more than $83 billion in assets and 1300 offices in eight southeastern states. In June, First Union announced its acquisition of First Fidelity Bancorporation. This acquisition is pending shareholder and regulatory approval and other conditions of closing.

Infinity Financial Technology, Inc. develops sophisticated software applications and toolkits for financial trading, risk management and operations. Since Infinity's founding in 1989, the cornerstone of the company's strategy has been to provide a technology platform that empowers clients to continuously adapt their systems to the rapidly changing requirements of the market.

A pioneer in developing object-oriented, client/server toolkits for derivatives trading, Infinity is now a leading provider of adaptive open systems used by the world's premier financial institutions for a broad range of applications.

The company's clients include ABN AMRO Bank, Bank of Montreal, CIBC/Wood Gundy, Chase Manhattan Bank, Chemical Bank, Credit Lyonnais, DG Bank, First Union National Bank, J.P. Morgan & Co., National Australia Bank, Sanwa Financial Products, Smith Barney Inc., Sumitomo Bank and Westdeutsche Landesbank. Strategic partners include AMS, Andersen Consulting, Diagram, IBM Japan, Price Waterhouse and TrueRisk.

Infinity can be reached at 2001 Landings Drive, Mountain View, CA 94043. 415/940-6100; Fax: [phone]; URL: http://www.infinity.com. -0-

Note to editors: Montage is a registered trademark of Infinity Financial Technology, Inc. All other trade names are trademarks or registered trademarks of their respective holders.

CONTACT: Infinity Financial Technology, Inc.

Jan Ellison, 415/940-6100

E-mail: [e-mail]

or

Cole Communications

Calisa Cole, 415/324-3152

E-mail: [e-mail]

or

First Union National Bank

Jim Rogers, 704/383-1193

E-mail: [e-mail]