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Universal Data Interface Corporation Founder Joins FpML Working Group

NEW YORK, December 14, 2000 - UDICo Founder and CEO , Adam Greissman today announced his involvement in the FpML Business Message and Architecture Working Group, a subset of FpML.Org the governing body of FpML use.

FpML (Financial products Markup Language) is a business information exchange standard for electronic dealing and processing of financial derivatives instruments. It establishes a new protocol for sharing information on, and dealing in, financial derivatives over the Internet. It is based on XML (Extensible Markup Language) and initially focuses on interest rate swaps and Forward Rate Agreements (FRAs).

Adam Greissman was one of the original initiators of the FpML language development, (jointly proposed by PricewaterhouseCoopers and JP Morgan) during his tenure as a director at PricewaterhouseCoopers.

UDICo's flagship product, the Universal Data Interface, is a high-speed middleware product that converts high volumes of data and does large-scale transaction management in real time. Its UDI Design Tool allows the creation of conversion specifications quickly and easily using a point-and-click interface, and its Runtime Server can perform conversions and transaction management according to these specifications on a variety of platforms.

"The FpML standard is the future of derivatives trading because a standards based flow of data will make the industry extremely efficient" said Adam Greissman, "I hope my contribution to the Working Group will facilitate FpML becoming a globally accepted form of communication in this industry."

About FpML

FpML is a freely licensed XML-based standard. It is designed to support the electronic dealing and processing of financial derivatives between trading partners, including financial institutions and their client network. The standard received a 2000 Technological Development of the Year award from Risk Magazine.

Visit www.fpml.org for further information on FpML and the symposium.

*Organizations actively participating in the FpML standard: Bank of America - BNP Paribas - Barclays Capital - Chase Manhattan Bank - Citigroup - Credit Suisse First Boston - Deutsche Bank - Fuji Capital Markets Corporation - Goldman Sachs - International Business Machines - J.P. Morgan - Morgan Stanley Dean Witter - PricewaterhouseCoopers - Reuters - SunGard Trading and Risk Systems -S.W.I.F.T. - UBS Warburg.

About Universal Data Interface Corporation (UDICo)

UDICo is an emerging leader in the data integration needs of today's growing businesses. Founded in July 2000, UDICo's goal is "data without borders" for any enterprise that needs it: data that can be used quickly, openly, and seamlessly across disparate systems. This lets IT departments get back to mission critical projects without requiring the time and trouble to custom code solutions to myriad middleware problems. UDICo is based in New York City and is privately held. For more information, visit www.udico.com.


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