LEADING EDUCATIONAL RETURIEMENT INVESTMENT MANAGER SELECTS ELECTRA’S OpenSTaARS TO AUTOMATE RECONCILIATION

July 15, 2008 – New York, NY - Electra Information Systems, a leading provider of reconciliation, trade automation and settlements solutions, today announced that one of the largest US asset managers has deployed Electra’s OpenSTaARS as its enterprise-wide reconciliations platform. With over $400 billion in assets under management, the institution is one of the most prestigious investment management firms focusing on retirement and pensions for the educational sector.

Following a comprehensive system selection process that included the foremost industry vendors participating in a “proof of concept” that demonstrated their capabilities against actual data; this leading Investment Manager selected Electra’s OpenSTaARS as the platform to support their reconciliation and exception management needs. Deploying OpenSTaARS will allow this Investment Manager to meet their goal of improving its back office efficiencies.

“Forward thinking investment managers are constantly looking for ways to enhance their existing operational models and systems,” said Ian Danic. “We are delighted to have been selected. Deploying OpenSTaARS will automate manual processes throughout the transaction lifecycle thereby lowering costs and enhancing the existing risk controls.”

Electra’s STaARS and OpenSTaARS revolutionize how clients approach their day-to-day back office operations by automating the reconciliation of securities holdings, transactions and cash between the books and records of an investment manager or hedge fund and its custodian banks and/or prime brokers. STaARS is available in two variations, both of which share a common user interface and offer identical functionality. STaARS is developed in a proprietary rapid application environment and has a proprietary data structure. OpenSTaARS has a Microsoft SQL Server database, which offers larger users scalability and speed in processing.

About Electra

Electra Information Systems, Inc. is one of the industry innovators in providing solutions for Data Aggregation, Reconciliation and Settlements. Electra brings unparalleled expertise in delivering highly effective, easily implemented solutions that are used by 40% of the top 25 investment managers and has become a market leader in providing reconciliation, trade automation and settlements solutions.

Electra customers cover the breadth of the financial services industry, including Custodial Institutions, Banks, Investment Managers, Hedge Funds and Insurance Companies.  Founded in 1998, Electra is headquartered in New York City. For more information about Electra’s products and services, visit www.electrainfo.com.

Media Contacts:

Ian Danic
212-696-1595
idanic@electrainfo.com