Press Releases

West LB AG Selects Asset Control for Global Data Management

Solution Links Reference and Corporate Actions Data

New York and London, July 30, 2007

Asset Control, the industry standard for data management in financial services, today announced that the Operations Group of Germany’s West LB AG has selected Asset Control’s flagship product, AC Plus, as its consolidated data management platform.  AC Plus will initially replace West LB’s existing mainframe-based system Wagner Gattung, which is currently a standard legacy solution for the German market.  One key benefit of AC Plus will be its ability to easily add additional vendor feeds, enhancing data quality and breadth of coverage over the standard WM feed to allow for strategic growth.

Asset Control will provide West LB with a complete data management solution to distribute cleansed data to all of West LB’s businesses worldwide.  The solution links all reference and corporate actions data across its financial markets.

Yoram Matalon, Chairman Group Operations Committee, WestLB said, “We chose to work with Asset Control because their offering is robust, comprehensive, and has a proven track record.  We will now be able to work within a multisource environment to manage our reference and corporate actions data via a scalable platform that can grow along with our future needs. We will be able to move, incrementally and on our own schedule, to the addition of new data feeds and the eventual centralization of all of our data. West LB is always looking for ways to better serve its customers, and this project will bring tremendous benefits.”

Phil Lynch, CEO, Asset Control, said: “We are delighted that West LB has chosen Asset Control as its data management partner for the future.  This deal reinforces our strong and growing presence in the German market, where financial services companies of all sizes are realizing the significant potential of our industry standard data management platform in helping them deal with various business objectives and opportunities.  Forward-looking firms realize that we’re on the brink of a revolution in the way that data is handled across a firm.  A centralized solution opens up all kinds of possibilities.  We’re helping our clients like West LB transform data management from an operational burden into a tool of empowerment.”

Asset Control was bought in April by Fidelity Ventures, who took a majority investment in the firm. Phil Lynch, former CEO of Reuters Americas and a Venture Partner with Fidelity Ventures was appointed CEO and President.

About West LB AG
WestLB AG is a European wholesale and commercial bank with firm roots in North Rhine-Westphalia, Germany’s most densely populated federal state.  With Group total assets of € 288.3 billion as of March 31, 2007 it is one of Germany’s leading financial services providers.  It is the central institution for the roughly 125 savings banks in North Rhine-Westphalia and Brandenburg, serving more than 11.5 million clients, and as an internationally operating commercial bank it acts as their link to the global
financial markets.

Working in close partnership with the savings banks, WestLB offers the full range of products and services of a universal bank, focusing on lending, structured finance, capital market and private equity products, asset management, transaction services and real estate finance.  WestLB AG is rated A1 by Moody's, A- by Standard & Poor's and A (high) by DBRS.

About Asset Control
Asset Control transforms data management from an operational burden into a powerful tool for competitive advantage for firms of all types and sizes.  Our industry standard platform reduces costs and risk, manages evolving compliance needs and speeds the delivery of new products to market.  A Fidelity Ventures company, Asset Control seamlessly integrates with internal and third party systems and applications to create a strategic business platform for future growth.

Some of the industry’s most successful firms depend on Asset Control.  These include: Abbey National, ABN AMRO, Allied Irish Banks PLC, Barclays Capital, Barclays Global Investors, Bayerische Landesbank, BBVA, Commerzbank, Convexity Capital Management, E*TRADE Securities, LLC, IBM (Dresdner Bank), Grupo Santander, Harvard Management Company, HSH Nordbank, HypoVereinsbank, ING, LCH.Clearnet, Robeco Groep, Société Générale, Standard Bank, Standard Chartered, Union Investment and Wachovia Corporation.