XSP Partners with Evare to Facilitate Seamless Integration for Clients with Custodians and Prime Brokers

NEW YORK, NY. – September 28, 2007 – XSP, the World’s leading provider of Corporate Actions software, announced today that it has partnered with Evare, LLC, a managed service provider headquartered in Burlington, MA, to facilitate its clients’ use of the XSP™ Corporate Actions software solution to standardize their interfaces to Custodians and Prime Brokers. Additionally, Evare will provide SWIFT connectivity managed services to clients of the XSP software solution.

The XSP application is ISO 15022 compliant and features comprehensive data management components, workflow management modules, web and SWIFT ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, the XSP software captures and sanitizes data from multiple market, vendor, Custodian and Prime Broker data sources. Through extensive workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP’s web-based eTRAN module offers the ability to track event notifications and elections by generating notifications to intermediaries for desired elections. Instructions are automatically reconciled, delivered to global custodians and updated to back-end systems for entitlement processing.

Evare's core competencies revolve around financial data acquisition, enrichment, transformation and delivery. Evare connects financial institutions to clients and counterparties using each firm's preferred method of connectivity, custom data formats and industry standards to establish direct connectivity with the systems of record within each institution. All parties can utilize their existing systems and protocols without having to upgrade or install software. This partnership allows XSP clients to facilitate a single connectivity point between clients and their counterparties, subsidiaries and internal systems.

Brendan P. Farrell, Jr., Chief Executive Officer, of XSP, said, “This new interface with Evare is another value-added offering to complement the XSP software solution for maximum operational efficiency in the processing of Corporate Actions. As a message transformation and SWIFT enabler, Evare will allow our clients to process non-standard or proprietary message formats through the XSP software as well as provide the ability for non-SWIFT clients to communicate across the SWIFT Network, or through the gateway. This offering will facilitate easier integration of the XSP solution with our client’s proprietary data sets. It will also provide non-SWIFT XSP clients with the benefits and capabilities of a SWIFT participant to handle messaging traffic on a service bureau basis.”

Frederick Stanley, President and CEO of Evare, commented, “By forming this partnership with XSP, global financial institutions will further enable STP while realizing immediate return on investment (ROI) in Corporate Actions processing. Evare’s managed service offering streamlines the communications chain by providing data transformation and delivery over the SWIFT network or via any preferred communications method, protocol or standard, without the need to change existing internal systems and processes. Through this strategic alliance, XSP and Evare bring together best-of-breed solutions that offer flexible and cost-effective options for financial institutions of all types and sizes.”

About XSP
XSP is the leading provider of Corporate Actions automation software for the global financial services industry. Accredited with the SWIFTReady Gold Corporate Actions Label, the XSP platform is ISO 15022 compliant and proven to mitigate the operational risks and costs associated with Corporate Actions processing. This leading-edge solution features an extensive workflow module and robust data management tools. XSP’s web-based eTRAN and ISO messaging modules automate the client notification and response capture and reconciliation of elections on complex Corporate Actions events. The XSP Entitlement Management module completes the Corporate Actions processing lifecycle for true end-to-end STP. With over 60 global clients, the XSP software is the most widely-implemented Corporate Actions solution in the world.

XSP is a Microsoft Certified Partner and has achieved a Microsoft Competency in ISV/Software Solutions.

For more information, please visit us at www.xsp.com.

About Evare
Founded in 1996 and headquartered in Massachusetts, Evare, LLC is a managed service provider for financial data acquisition, enrichment, transformation and delivery. Evare serves as a data transformation hub for nearly 300 asset managers, broker/dealers, custodial institutions, banks, corporations, and their respective clients worldwide. Evare also supplies desktop applications to municipal and government agencies. As a member of SWIFT, Evare has access to over 8000 institutions in more than 200 countries. Evare provides services for link and data management that adapt each set of communications to the system, process and format each client or counter-party prefers. Member/Concentrator services are administered by Evare which makes moving towards internal and external STP quick, easy, and cost-effective.

As a Limited Liability Company (LLC), everyone employed at Evare is a partner. The primary shareholder is Loeb Partners Corporation.