Reval Wins Credit Magazine’s 2008 Technology Innovation Awards for its FAS 157 Solution

New York, November 13, 2008 – Reval, a global leader in financial risk management solutions and services, announced today that it was recognized with Credit Magazine’s Technology Innovation Award for its FAS 157 module.

The Technology Innovation Awards recognizes key developments in technology over the past year in the credit industry, particularly in response to the challenges in analytics, risk management, pricing and valuation. Reval was acknowledged for its award-winning FAS 157 module that integrates with their flagship hedge accounting solution. The introduction of FAS 157, which provides a complete definition of fair value for all asset classes, presented Reval with the challenge of integrating the standard into their existing FAS 133 framework.

"The FAS 157 accounting standard is very complicated as companies now need to include the credit and liquidity component of the fair value of their derivatives and any other assets or liabilities that are currently being marked to market." According to Reval’s Peter Seward, Senior Product Manager at Reval, "Entities that seek special hedge accounting now need to show on a look-forward and look-back basis that a hedge relationship is effective, and statistical regression is the most robust means of achieving this. What we’ve done is integrate FAS 157 into a FAS 133 world."

Reval continues to receive global recognition for helping corporations to remain compliant with the increasing complexities of accounting regulations affecting derivatives, providing better control of operational risk, and helping to avoid financial restatements and other regulatory pitfalls. Their easy to deploy Software-as-a-Service solution has cutting-edge security, strict controls and a SAS 70 Type II certification. Organizations including Commerzbank, Deloitte & Touche LLP, General Motors, GlaxoSmithKline, the Government of Canada, National Grid, Qantas, and many more have used Reval’s solutions to hedge foreign exchange, interest rate, energy and commodity risks while complying with today’s FAS 133 and IAS 39 requirements.

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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