Indian Express, Hyderabad, February 8, 2001

FNSTAR Inc., a leading provider of financial services solutions, today launched its Indian subsidiary Electronic Financial Network Pvt. Ltd. based in Hyderabad , the $ 1million wholly-owned subsidiary would bring in the state of-the-art products into the country. The company's products such as IFMS, ESOPnet and CRM address the spectrum of services sought by financial intermediaries, asset management companies, financial advisers banks and depository participants.

"These products facilitate the convergence of a multitude of financial instruments, markets, services and delivery channels, helping our customers increase their business capabilities and broaden their customer base," FNSTAR chief executive officer Ram Puppala said FNSTAR has developed Global Solutions Framework (GSF)-a reusable technology architecture that forms the basis for a highly secure, scalable and reliable e-platform, he said .

REAL TIME HELP: Keeping in view the needs of players in the financial market, the company will shortly start a real-time service through its portal FN Broker. "This portal will be operational by March end, " he said.

About FNSTAR:

FNSTAR, headquartered in Englewood, CO, is a global provider of IT solution and services to the Financial services and Telecommunication industry. FNSTAR provides Offshore management consulting services for the telecommunication and financial services industry and a comprehensive suite of integrated software solutions created for retail financial institutions such as banks, brokerages and insurance companies.

FNSTAR's solution has been successfully deployed at tier 1 financial service corporations; and, enables them to offer a complete line of retail investment products while managing supporting activities such as portfolio management, record keeping, regulatory compliance, risk evaluation and management, clearance and settlement.

FNSTAR Integrated Financial Management Solution (fn*IFMS) provides brokerage house, banks with one stop solution brokerage solution for front office, middle office, internet trading, power trading, and correspondent clearing. Financial institutions can replace their legacy systems or expand globally with the integrated brokerage solution. FNSTAR’s cross border trading solution (fn*CrossBorder) enables financial institutions to execute cross borders trade in seamless way taking into account the cross border regulation, compliance, currency and account ownership.

FNSTAR's cross border trading solution (fn*CrossBorder) enables financial institutions to execute cross borders trade in seamless way taking into account the cross border regulation, compliance, currency and account ownership.

FNSTAR offshore management consulting services includes developing a viable offshore strategy for the company, performing program management and IT delivery services. There is a myth that Offshoring delivers dramatic cost savings whenever projects are off shored using the lowest cost vendor. FNSTAR insists that organizations must also take into account the TCO (Total Cost of Ownership), IT budget, business drivers, added cost of offshoring related to knowledge transfer, logistics, data security, service levels, IT processes integration, long term strategy of the application, and long term strategy with the vendor.