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Odyssey Signs First Client in Scandinavia as its Comprehensive and Scalable Wealth Management Solution is selected to Grow Private Banking Venture

London, 18th September 2007 - Odyssey Financial Technologies, a global provider of private wealth and asset management solutions and services, today announced its first Scandinavian client has selected its Wealth Management Solution. First Securities ASA, a subsidiary of Swedbank and a leading player in the Norwegian securities market, selected the Odyssey Wealth Management solution for its new private banking venture, First Private Banking AS. The system was chosen to enable the rapid growth of its client base across a wide range of private banking services.

First Private Banking is implementing all the components of Odyssey’s Wealth Management Solution including the Relationship Management and Portfolio Management workstations. The integrated workstations will support First Private Banking’s comprehensive range of private banking services for clients primarily in the Norwegian market. These include asset management and diversification strategies, pension planning, income and wealth protection, inheritance and generation transitions, and tax management.

Jon Herheim, head of First Private Banking says: “We selected Odyssey’s Wealth Management solution following in-depth analysis of the solutions on the market. Odyssey's solution offers advanced functionality within a user friendly environment, which supports our strategy of delivering superior private banking services. By efficiently automating the entire investment process we are able to rapidly grow the business on a very scalable platform.”

The Odyssey Wealth Management solution eliminates routine administrative processes and facilitates regulatory compliance, allowing investment professionals to focus on value-added services and attract and retain clients. The system seamlessly integrates with existing or third-party applications and is accessed through a sophisticated browser-based web user interface.

Steve D'Souza, general manager, Northern Europe, Odyssey adds: “I am delighted to welcome First Private Banking as our first client in the Scandinavian region and to be working with First in supporting the launch and the success of their new business. Odyssey’s private wealth and asset management solutions and services are designed to grow with a financial institution’s needs because of our component-based technologies. Following the successful implementation of our Wealth Management Solution at our first client in Scandinavia we predict significant growth in what is one of the fastest growing on-shore private banking markets in Europe.”

About First Private Banking

First Securities is one of Norway’s leading brokerage houses, with a strong position in the Norwegian securities trading market. The company has one of the highest ranked analysis teams in the business, a strong distribution capacity and a tightly knit team of co-workers that have achieved excellent results for many years.

First Private Banking will create value for customers by capitalising on the know-how, skills and experience in its parent company, in addition through our 40 trusted private bankers with an average of 10 years experience from the private banking / wealth management industry in the Norwegian market.

First’s employees are constantly working to improve their results, and the company maintains a strong focus on reliability, integrity and ethics. Over the past 20 years the team has experienced some of the best booms and worst slumps in the stock market. This has made First employees highly adaptable, and the company has successfully defended its position through constantly changing market conditions. This is also reflected in our team-spirit, where the focus is on stability and thinking in the long term.

About Odyssey Financial Technologies

Odyssey is an industry leader in the global provision of private wealth and asset management solutions and services. More than 180 financial institutions in 30 countries have chosen Odyssey solutions; of the top 25 European banks, 15 are Odyssey customers. Odyssey focuses on providing a comprehensive range of components for portfolio management, advisory, customer relationship, compliance, risk, and analytics. The components are deployed on a single scalable wealth and asset management platform, facilitating the enterprise-wide implementation of solutions and data management. Founded in Luxembourg in 1995, Odyssey has offices in the key financial centres, including London, New York, Singapore, Zurich, Frankfurt, Brussels, Geneva, Madrid and Tokyo. Odyssey’s operational head office and main development centre is located in Lausanne, Switzerland. Throughout this knowledgeable network Odyssey employs more than 420 professionals.

For further information, please visit:

©Odyssey Financial Technologies

UK Press enquiries to:

Nicolle Farthing/Nicki Ferguson, Cre8 Results Limited
Tel: +44 (0)20 7734 9199

Other Press enquiries to
Valérie Michiels, Odyssey Corporate Marketing
Tel: +352 4260801

First Private Banking enquiries to
Jon Herheim
Tel: +47 23 23 80 00

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