Reval Releases FAS 157 Module to Comply with New Derivative Valuation Requirements

New York, October 22, 2007 – Reval, a global leader in financial risk management solutions and services, is pleased to announce the release of its latest upgrade of HedgeRx® which includes a new FAS 157 module. All HedgeRx clients were automatically upgraded seamlessly over the weekend to version 7.1, which marks the 26th upgrade of HedgeRx since 2001.

The Financial Accounting Standards Board Statement 157 creates a uniform approach to the fair value measurement for any assets or liabilities that companies currently mark to market, including derivatives. While the concept is clear and long overdue, FAS 157 raises issues around the calculation of fair value, as now credit and liquidity should be included in the measurement. The Statement also introduces reporting requirements that bucket the reliability of the fair values in three levels.

In response to this new rule, Reval developed a FAS 157 module to help companies handle the credit component of their derivatives into the fair value measurement and for FAS 133 reporting, which will also be affected. HedgeRx can now rank the reliability of fair values according to the defined 3 levels.

FAS 157 is slated to go into effect for fiscal years after November of 2007, which for calendar year companies is just around the corner. The FASB voted last week not to delay the compliance date despite much pressure from corporate treasurers.

"There are subtle and complex nuances within FAS 157 that many companies have not realized yet and may come as an unpleasant surprise to many companies come Jan 1" said Jiro Okochi, CEO and Co-founder of Reval. "As this is an important issue to our clients, we wanted to stay on top of the issues and ahead of the competition with this first to market release."

Reval worked closely with its clients and the Big 4 to provide a comprehensive FAS 157 module that addresses the new requirements. The newly added module enhances Reval’s current offerings to maintain Reval’s leadership within the derivative risk management solutions.

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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