Canada Investment and Savings Selects Reval Center For Complex Derivative Valuations

New York, October 24, 2005 – Reval, a provider of financial risk management technology solutions and services, is pleased to announce that Canada Investment and Savings, a special operating agency of the Department of Finance Canada, has selected Reval CenterTM to price the embedded optionality of its retail note programs. Canada Investment and Savings selected Reval Center through a competitive process to assist in determining the cost effectiveness of its products by valuing the embedded options in its products.

Reval Center is a service bureau that performs independent derivative valuations on an outsourced basis. Reval Center receives the transaction data electronically or via fax or mail and will provide a valuation report in a timely fashion.

"Reval Center is a natural fit to leverage our HedgeRx ® solution and our in-house derivative expertise" notes Jiro Okochi, CEO of Reval. "We are very excited about the relationship with Canada Investment and Savings as we are ultimately providing a service that starts with the Government of Canada and impacts individual investors in Canada."

Reval Center is geared towards institutions that hedge risk exposures using derivatives for liability management or investment management, as well as for banks and hedge funds that trade in derivatives and are required to have independent valuations. Institutions who fall under the Sarbanes-Oxley Act, the Basel II capital framework or who need to comply with hedge accounting rules like FAS 133 and IAS 39, should have valuations separate from or in conjunction with valuations they receive from their derivative dealers.

"We are very pleased to have won another European client." said Peter Reynolds, Director of European Sales of Reval. "The decision to open a London office at the beginning of the year is paying dividends as we expand into the UK and beyond. Companies are keen to see systems that can deal with their key issues without being intrusive to their IT infrastructure and that can be implemented quickly and efficiently"

About Canada Investment and Savings

Canada Investment and Savings is a special operating agency of the Department of Finance Canada, responsible for the management of the Retail Debt Program, including Canada Savings Bonds.

About Reval

Reval is a global SaaS provider for Treasury and Risk Management, helping enterprises better manage cash, liquidity and financial risk, and account for and report on complex financial instruments and hedging activities.

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