Reval and Raymond James Sign Private Label Distribution Agreement

New York, August 6, 2002 – Reval, a provider of Web-based treasury and risk management solutions and services, and RJ Capital Services (RJCS), a provider of a comprehensive suite of derivative products and solutions, jointly announced the signing of a private label distribution agreement where RJCS will distribute a version of Reval’s leading web-based hedging management solution to RJCS’ institutional clients under the name Hedge Professor™.

Hedge Professor will provide valuations and extensive reporting capabilities for interest rate derivatives and exposures, as well as tools to comply with FAS 133, the complex derivative accounting disclosure standard. RJCS will offer on-line access to Hedge Professor to clients via its Web site in conjunction with its robust hedge management services. By providing Reval’s services under the private label program, RJCS will be able to offer differentiated straight-through-processing and enhance its ability to support clients from pre-trade execution all the way through to determining FAS 133 hedge effectiveness.

"We are excited about the formation of this partnership with Reval. They are a tremendous complement to our derivatives platform and will undoubtedly help us continue to serve our broad customer base," explained John LeCompte, head of derivatives at RJCS.

Reval currently provides Web-based hedging management solutions and services to a broad range of corporations and financial institutions. Its flexible platform and software enables the creation of tailored services that can be delivered directly by Reval or through a third party such as RJCS via its "white" label program called Private Reval™. Under Private Reval, the third party bank, electronic exchange or other distributor can work with Reval to customize the user interface under its own corporate logo and colors. Reval maintains the application and service customer support, enabling the third party to go to market with newly branded services and solutions quickly.

"We are very pleased with our private label alliance with Raymond James, as their name and reputation further validates the quality and flexibility of our risk management solutions," said Jiro Okochi, CEO of Reval. "The alliance also opens up a new distribution channel to leverage our software and services to potentially hundreds of their financial institution clients."

RJCS will begin marketing Hedge Professor to its clients immediately.

About RJ Capital Services, Inc.

RJ Capital Services is a wholly-owned subsidiary of Raymond James Financial, Inc. (NYSE-RJF), which offers a broad array of financial services to individuals, corporations, municipalities, and institutions through its three broker-dealer subsidiaries. RJCS makes markets and warehouses risk throughout the entire interest rate derivatives spectrum. With close to 30 years of combined experience collected from both buy- and sell-side market sectors, RJCS not only offers quality execution, but comprehensive and unwavering client support.

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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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