Open Solutions Inc.

FOR IMMEDIATE RELEASE

Contact: Marvin (Mickey) Goldwasser
Open Solutions Inc.
860.652.3153
mgoldwasser@opensolutions.com

New Version of Open Solutions’ Relational Core Solution
Continues to Gain Traction in the Market

- More institutions turn to DNA release for data processing needs-

GLASTONBURY, Conn. Feb. 23, 2009 — The momentum continues to build for Open Solutions’ latest version of its relational core processing solution, The Complete Banking Solution®: DNA (TCBS: DNA) and The Complete Credit Union Solution®: DNA (TCCUS: DNA). Since its launch, less than one year ago, 101 financial institutions have selected the relationship-based core offering. Open Solutions is a leading provider of integrated enabling technologies for financial service providers across the United States, Canada and other international markets.

Of the 101 financial institutions running the latest version of Open Solutions’ popular core platform, 82 are existing clients who have upgraded and 19 are new to the company’s client roster. In addition, many more institutions are preparing for implementation. TCBS: DNA and TCCUS: DNA appeal to growing numbers of financial institutions because the solutions use .NET technologies to expand and advance the basic database foundation upon which Open Solutions’ relationship-based system was originally built.

“From the beginning, Open Solutions’ core system was designed to put relationships first,” said Louis Hernandez, Jr., the company’s chairman and CEO. “Our DNA release has taken that vision to a new level, and our clients using the new technology are fostering more comprehensive relationships with their customers or members. They’re also finding the flexibility and functionality that are hallmarks of our products have been taken to new levels with DNA. We understand the pressures financial institutions are under, and now more than ever, launching new products, targeting services, meeting changing regulatory needs, tailoring workflow without the layers that mask legacy technology, can make financial institutions more flexible and efficient. With innovative solutions such as the DNA release, we are positioned to enable institutions to better serve their markets and address these competitive and challenging times.”

Three Rivers Federal Credit Union, based in Fort Wayne, Ind., had been using TCCUS for five years when they upgraded to TCCUS: DNA. Asked what prompted the move, the institution’s project administrator, Tiffany E. Yoquelet, replied, “I found this quote from Edward Filene which I think explains it the best: ‘Progress is the constant replacing of the best there is with something still better.’” Filene, best known for expanding the department store chain bearing his name, was also instrumental in establishing the credit union industry in the United States.

Three Rivers was looking for a technology that could grow as they did, and in the process, they gained some additional benefits that they see daily. “During our training session, the class created a list of things that made them really excited about the new system,” said Yoquelet. “They included the help function, visible notes and roles, banner information, the ability to print the relationship profile, account descriptions, check ordering via Deluxe, the premium overdraft slide-out, GL cash back, Transaction Express, the use of percents and not decimals, the favorites and tabs, the fact that the work area doesn’t change, cView activities, the single sign-on and 1099 information.”

Adrian Gordon, senior vice president and chief information officer at Harleysville Savings Bank, based in Harleysville, Penn., polled staff members and found they liked some of the same features as the staffers at Three Rivers as well as several other benefits. “They like the profile screen, which allows them to see all of a customer's account relationships and balances on one screen,” explained Gordon. “And they like the ability to perform multiple transactions on one screen, to quickly transfer from one account to another, to easily view the ID on all signers and to hover the cursor over an account number to see the roles assigned to each owner. And they appreciate the color coding — for instance, loan payments due appear in red and CDs maturing appear in green.” And with all those items providing a more streamlined process, “It’s a great tool to serve our customers,” Gordon added.

“Those types of results — better service and improved employee satisfaction — were exactly what we intended to achieve with the DNA release,” said Hernandez. “That’s why we continued to invest in innovation and took a collaborative approach to its development and worked so closely with our clients to find out what more they wanted in their core platform. Their embrace of DNA and our partnership has validated not just our continual investments in our technology, but our desire to continually provide the industry with a technology advantage.”

About Open Solutions

Open Solutions Inc. offers a fully featured strategic information management product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and international markets to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

For more information about Open Solutions or The Complete Banking Solution®: DNA /The Complete Credit Union Solution®: DNA, or to obtain a copy of our white paper — The Evolution of a Revolution — contact Mickey Goldwasser at mgoldwasser@opensolutions.com, phone 860.652.3153, fax 860.652.3156. Visit Open Solutions on the Web at www.opensolutions.com.

Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2009. Open Solutions Inc. All rights reserved.

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Editor’s Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.

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