Software facilitates enterprise reference data management.

Press Release Summary:

Financial Data Enterprise v3.0 provides financial institutions with complete control of their enterprise reference data by automating its end-to-end acquisition, management, and distribution. Acting as transformation and enrichment hub, solution consolidates disparate data sources and delivers clean, complete, and consistent data to end users. Acquisition interface lets users dynamically map, cleanse, and transform incoming data to user's underlying database model.

Original Press Release:

Ness Technologies to Launch New Version of its Enterprise Reference Data Management Platform at FIMA 2006 (Europe)

HACKENSACK, New Jersey, November 13 -- 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

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