ERisk announced today that The Colonial BancGroup, Inc., a $21 billion bank holding company headquartered in Montgomery, Ala., has licensed and deployed ERisk Abacus to improve its capabilities for enterprise-wide risk measurement and capital allocation.

ERisk is the leading provider of integrated software and consulting solutions that enable financial institutions to enhance their performance through better risk and capital management.

"Colonial is pleased to join the rapidly growing list of banking institutions of all sizes that have turned to ERisk for a robust software solution for enterprise-wide risk measurement and capital allocation" said Mary Lou Bathen, assistant treasurer at Colonial. "ERisk worked closely with us to implement a comprehensive and customized system in a short period of time," she added.

Financial institutions use the consulting services of ERisk and the Abacus software to improve business decision making in such areas as capital allocation, risk-based pricing and Allowance for Loan & Lease Losses.

"We are happy to have Colonial as a client of our Abacus solution," said Shahram Elghanayan, managing director at ERisk. "We are confident that Abacus will help Colonial to calculate best-practice Economic Capital and that it will help them turn this new management information to practical business advantage across the institution."

To learn more about ERisk and the company's wide range of risk management software and consulting offerings, contact the ERisk sales organization at (212) 819-0170, or click here to learn more about ERisk Abacus.

About The Colonial BancGroup, Inc.

The Colonial BancGroup, Inc. is a $21 billion bank holding company operating 310 banking offices in Florida, Alabama, Georgia, Nevada and Texas. The company's common stock is traded on the New York Stock Exchange under the symbol CNB. Additional information about Colonial can be found on the Internet at www.colonialbank.com.

About ERisk

ERisk is a full-service provider of strategic risk management solutions, including Economic Capital analytics, operational risk systems, consulting, and executive-level workshops and briefings. Our mission is to help financial services organizations, property & casualty insurers, and non-financial corporations transform their risk management processes to increase management effectiveness, reduce losses and increase shareholder value. For more information about ERisk and our market-leading risk management solutions, please visit the ERisk website at www.erisk.com or call (212) 819-0170.

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