NSTC Ness Technologies, Inc. (MM)

HACKENSACK, New Jersey, November 13 /PRNewswire-FirstCall/ -- Ness Technologies (NASDAQ:NSTC), a global provider of IT services and solutions, today announced that it will launch a new enhanced version of Financial Data Enterprise (FDE) at FIMA 2006 (Europe) - the fourth European senior-level financial data conference, to be held on November 14-17, 2006 in London, UK. FDE is an enterprise reference data management platform developed by Ness Innovative Business Services (Ness IBS) to efficiently address the reference data needs of global financial institutions. A cost-effective, flexible solution, FDE allows financial institutions to take complete control of their enterprise data by automating end-to-end acquisition, management and distribution of reference data. FDE acts as a transformation and enrichment hub that consolidates all disparate data sources leveraging its intelligent and dynamic metadata layer and delivers data to end users, systems and value-chain participants. FDE ensures that the data that drives performance attributions, risk analysis, pricing, research, fund accounting and customer servicing and other mission-critical applications is clean, complete and consistent. The new version, FDE 3.0, includes new features such as enhanced data acquisition interface allowing users to dynamically map, cleanse and transform incoming data from various formats to the user's underlying database model. In addition, FDE 3.0 includes improved exceptions and workflow management interface as well as a new extraction rules engine providing rules-driven golden copy generation and distribution. "The new version enhances data acquisition, management and distribution, leading to increased productivity and improved performance," said Rajkumar Velagapudi, President of Ness IBS. "It reduces data sourcing costs and eliminates downstream needs for validation and exception management, thus saving time and administration costs, meeting the critical needs of financial institutions. The combination of FDE 3.0 with Ness' EnVue Analytical Platform 2.5 enables financial institutions, especially wealth managers, financial advisors and fund managers, to review and distribute detailed performance data near-real-time." Ness IBS provides strategic operational and technical integration services to global financial institutions including investment managers, mutual funds, brokers/dealers, third party administrators and hedge funds. Ness IBS offerings include solutions for wealth management, transfer agency and investment management operations, research and trade operations, payer/provider revenue management, customer software engineering and packaged products implementation. In addition to the solutions, Ness IBS provides outsourcing and offshoring services, such as advisory, system integration, product development and business process outsourcing services. Ness IBS clients include Franklin Templeton, Standard & Poor's, Finaplex Inc., PayPal, Wells Fargo Bank, Weiss Ratings and ING Investments, among others. About Ness Technologies Ness Technologies (NASDAQ:NSTC) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Ness specializes in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training. With 7,200 employees, Ness maintains operations in 14 countries, and partners with over 100 software and hardware vendors worldwide. For more information about Ness Technologies, visit http://www.ness.com/. Forward Looking Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in Ness' Annual Report of Form 10-K filed with the Securities and Exchange Commission on March 15, 2006. Media contact: David Kanaan USA: 1-888-244-4919 Intl: +972-3-540-8188 Email: Investor contact: Drew Wright USA: 1-888-267-8160 Email: DATASOURCE: Ness Technologies Inc CONTACT: Media contact: David Kanaan, USA: 1-888-244-4919, Intl: +972-3-540-8188, Email: , Investor contact: Drew Wright, USA: 1-888-267-8160, Email:

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