__*Leading domestic life company and third party administration provider sign multi-year deals to adopt Dublin-based FRS Invest Pro™.*__

Dublin, 09 September 2003 — Financial Risk Solutions (FRS), a leading fund administration software company, has signed multi-year agreements with Friends First and Friends First International, a leading life assurance company and third party administration provider, to use FRS InvestPro™ software for their fund administration.

Both financial services companies join a growing list of FRS clients using InvestPro™ to administer funds in a controlled, resource efficient manner. With Anglo Irish Assurance, Quinn Life and St James’s Place International Assurance as FRS clients, InvestPro™ is Ireland’s largest provider of fund administration software to life assurance companies. Sanpaolo Life, Area Life and Nascent Life are leading Italian IFSC life companies also using InvestPro.

Under the Friends First and Friends First International agreements, InvestPro™ will support unit pricing, management charges, taxation and regulatory returns for both companies. InvestPro™ will be the link between Friends First policyholders and the investment markets and will enable more funds to be administered in less time, with rigorous control.

“Designed by actuaries who understand how software can play a critical role in making fund administration more efficient, we chose FRS InvestPro because it provides more inbuilt efficiencies and extensive controls than comparable software products on the market,” said Tom Browne, General Manager Finance, Friends First. “We are confident that InvestPro™ can fundamentally enhance how we interact in an automated way with our policy systems and investment managers.”

“We are very pleased that Friends First and Friends First International have selected InvestPro™ as their fund administration solution to provide the crucial link between policyholders and the investment markets,” said Frank Carr, Head of Sales and Marketing, FRS. “Winning such a prestigious client in a very competitive European market is testament to the strength of our offering and to Dublin as a centre of excellence for financial software.”