FEA and Reval to Deliver Risk Management Solution to Australian Wheat Board

New York, November 18, 2003 – Financial Engineering Associates, Inc. (FEA), a wholly-owned subsidiary of Barra, Inc. (Nasdaq: BARZ) and a leading developer of derivative pricing and risk management technologies for the energy and commodities industry, and Reval, a provider of financial risk management technology solutions and services, today announced that AWB Limited (the former Australian Wheat Board, ASX: AWB) will use FEA derivative pricing components deployed within Reval’s Web-based HedgeRx® solution to manage market price risk. As a result, AWB will gain a global, Web-based wheat and wheat future trading and risk management system.

"As a long-time user of FEA analytics, AWB wanted to leverage the FEA technology already used extensively in our trading organization," said Joshua Roberts, president of AWB (U.S.A.) Limited. "We chose Reval’s HedgeRx solution which includes FEA’s derivative pricing components to provide worldwide access via the Internet and capitalize on Reval’s demonstrated risk management expertise."

"Reval’s Web-based risk management solution is providing a market-tested vehicle to support AWB’s global trading requirements," said Jiro Okochi, president and chief executive officer for Reval. "Our flexible open architecture — whether deployed as a standalone solution or integrated with other systems and workflows — easily accommodates AWB’s need for analytic consistency by hosting FEA compo-nents."

"Our clients deploy FEA analytics software components for a variety of enterprise-wide software solutions," said Laurent Birade, senior vice president of FEA. "FEA works with systems integrators and solutions providers such as Reval to ensure clients get the greatest utility out of their FEA software investment."

About FEA

Focusing on the energy, financial, and commodities markets since 1989, Financial Engineering Associates, Inc., a wholly owned subsidiary of Barra, Inc., is renowned for the development of option valuation models and market risk assessment software. Powered by constant innovation, aggressive release schedules, and superb technical support, FEA is routinely first-to-market with pricing models and authoritative risk management tools for the latest, most complex financial instruments. FEA’s more than 700 institutional clients include energy firms, money center banks, Fortune 500 companies, trading enterprises, and leading financial firms worldwide. FEA remains at the forefront of financial engineering through an on-going commitment to meeting the needs of its clients worldwide.

For more information, visit www.fea.com.


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.

For more information, visit www.reval.com or email info@reval.com.

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