Progress Apama Technology Selected by SEB for Algorithmic Trading.

SEB First Customer to Benefit from Strategic Partnership between ULLINK and Progress Software

BEDFORD, Mass. -- Progress Software Corporation (NASDAQ: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced that SEB (Skandinaviska Enskilda Banken SA), a leading North European financial group, has selected the Progress([R]) Apama([R]) Algorithmic Trading Platform to provide its buy-side customers with advanced algorithmic trading capabilities. The SEB adoption of the Apama product is a direct result of Progress Software's recently announced partnership with ULLINK, a leading provider of electronic trading technology solutions. Under the partnership, ULLINK has fully incorporated the customizable Apama algorithmic trading capabilities into its product portfolio.

The Apama platform enables financial institutions to instantly and continuously analyze, evaluate and respond to complex market events. SEB will deliver the Apama capabilities to its buy-side client base to enable their roll out of algorithmic trading strategies, improved risk management measures and optimized pricing benefits. SEB will integrate the Apama platform with its existing Odisys Order Management System provided by ULLINK.

The integrated solution will enable SEB's customers to develop their own unique algorithmic trading strategies, backtest these strategies to gauge their effectiveness and alter them once live in the market. In addition, SEB will offer its proven trading algorithms built in the Apama Event Modeler[TM] complex event processing (CEP) development environment directly to clients, who will access them via the Apama Dashboard Studio[TM]. SEB will use the Apama platform across asset classes, with the initial roll out concentrating on the European exchange-traded equity and derivative markets.

Christer Wennerberg, business development E-TCM, SEB, comments: "This is an exciting deal for SEB. The linking of the Progress Apama capabilities into our existing ULLINK order routing technology provides exceptional trading capabilities to our clients. With this Apama solution, we are able to provide our clients with access to next-generation algorithmic trading technology that will give them an edge over their competitors. Our offices in Stockholm and London will be the first to use the Apama product, however we have plans to roll out the solution globally."

Dr John Bates, founder and vice president, Apama Products, Progress Software, adds: "As interest in algorithmic trading continues to grow, sell-side institutions across the globe are seeing the need to provide customized services to their buy-side clients. SEB's selection of the integrated solution underlines Progress Software's position as a leader within the algorithmic trading space. Sell-side firms are seeing the increased need to provide customized and localized algorithmic capabilities to their clients - with the Apama product; SEB will provide its clients with one more tool they need to remain competitive."

About Progress Software Corporation

Progress Software Corporation (NASDAQ: PRGS) provides application infrastructure software for the development, deployment, integration and management of business applications. Our goal is to maximize the benefits of information technology while minimizing its complexity and total cost of ownership. Progress can be reached at www.progress.com or [phone].

About Skandinaviska Enskilda Banken S.A (SEB)

The SEB Group is a North European financial group for 400,000 corporate customers and institutions, and 5 million private customers. SEB has local presence in the Nordic and Baltic countries, Germany, Poland, the Ukraine and Russia and has a global presence through its international network in another 10 countries. On 31 December 2006, the Group's total assets amounted to SEK 1,934bn while its assets under management totalled SEK 1,262bn. The Group has about 20,000 employees. Read more about SEB at www.sebgroup.com.

About ULLINK

ULLINK is a leading provider of FIX connectivity and trading solutions. With over 260 ready-to-trade connections to favourite destinations (brokers, exchanges, order routing networks and trading applications, in all formats and all asset classes), we help our customers build environments that relieve them from technical dependence on a specific vendor: connect your existing applications to our platform (the UL BRIDGE), select your destinations and start trading.

In addition to this unique connectivity solution, benefit from turn-key DMA and care order architectures, full order management with dedicated sales and dealer interfaces, exception management, best execution and algorithmic trading across the globe. These flexible solutions are also available in Facilities Management (we host and support the entire solution in your name) or through our global FIX hub, the UL NET. With offices in New-York, London, Paris and Hong Kong, we support clients across time zones. Hundreds of connections for some of the world's largest financial institutions have built our reputation for delivering quality software and exceptional services. Please visit http://www.ullink.com.

Progress, Dashboard Studio, Apama, and Event Modeler are trademarks or registered trademarks of Progress Software Corporation in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.