ERisk Becomes Exclusive Distributor of COMIT Gruppe's SWORD Operational Risk System in North America

New York, New York -- ERisk, the leading developer of software solutions that help banks enhance performance through better risk and capital management, today announced an exclusive distributor agreement with COMIT Gruppe to sell and support their award-winning SWORD Operational Risk System in the North American bank market.

"ERisk is committed to providing our clients the best range of products and consulting services possible to address the growing challenge of enterprise risk management. We're very pleased to be partnering with COMIT, and we think it makes good sense to add their popular operational risk management software to ERisk's growing line-up of innovative solutions," stated David Gilbert, Chairman and CEO of ERisk.

The SWORD Operational Risk System delivers a state-of-the-art framework for the measurement and reporting of operational risk -- the risk of loss from hazards such as fraud, computer failure and settlement errors -- globally across a business. The product is appropriate for all companies that wish to comply with operational risk, internal audit and corporate governance regulations and recommended standards, including Basel II and Sarbanes-Oxley.

"Operational risk solutions are the fastest growing area of risk management software, and North America represents an important market for us," stated Seamus O'Farrell, Chairman and CEO of COMIT Gruppe Ireland. "Because of increasing regulatory pressure and a desire to adopt best-practice techniques, banks are giving greater urgency to evaluating and deploying operational risk methodologies and systems. The combination of SWORD's powerful features and ERisk's reputation for excellence in software sales, implementation, and customer support are unsurpassed in the North American bank market."

"ERisk is now in the enviable position of offering senior bank management a comprehensive range of solutions for tackling today's most pressing risk management business challenges, from operational risk management to risk-adjusted performance measurement to improved credit risk techniques," said Peter Nakada, Executive Vice President and Head of Consulting at ERisk. "In terms of operational risk management, SWORD delivers a concrete first- step that senior managers can take to provide proof to regulators and shareholders that their organization is proactively managing and reporting on operational risk. We look forward to introducing this exciting new product to bankers throughout North America."

For more information about SWORD, please click here.

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 all ERisk's offerings, please visit the ERisk website at www.erisk.com or contact the ERisk sales organization at 212-819-0170.

About COMIT Gruppe

COMIT Gruppe, founded in 1980, is a European based IT consultancy catering solely to the needs of financial institutions. COMIT Gruppe, which has seven offices in five European countries, are specialists in risk management systems and have previously developed risk systems for banks in Ireland, UK and Europe. For more information on COMIT Gruppe, visit www.comit.ie.

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Press Contact:

Tony Marcos

Director of Marketing

ERisk

(917) 522-1619

tmarcos@erisk.com

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