The Global arm of Religare Technova - Capital Market Solutions wins renewal of Equities IT Solutions Contract with the RHB Banking Group

November 17, 2008: Capital Market Solutions (CMS), the Global arm of Religare Technova announced winning the renewal of their contract with the RHB Banking Group (RHB), one of the largest integrated financial services group in Malaysia. The contract is for the deployment of NOVA, their middle and back office solution until 2019.

CMS, a leading provider of software and services to the Asia Pacific and European capital markets, has provided the NOVA solution to RHB since 2000, and continues to strengthen its position and commitment to the Malaysian financial market with the signing of more clients, and the establishment of Development and Support Centres in Kuala Lumpur.

Ho Sin Kheong, Head of Central Technology of the RHB Banking Group commented, “When undertaking our systems review process, our approach has always been customer-centric. We explore the viability of all systems available in the market to ensure that such systems will be in sync with our requirements of which CMS and NOVA have acquitted themselves well in this respect."

“I am delighted that RHB and CMS will continue to work together to ensure that the NOVA solution deployed at RHB brings increased automation and functionality to assist in speed and accuracy of processing, whilst reducing transaction costs. CMS looks at technology to enhance competitiveness and innovation to provide cutting edge solutions to its clients. I look forward to a great relationship with RHB,” said Colin Camp, CMS Managing Director of Asia and Europe.

“This renewal reinforces our beliefs and efforts in building and maintaining relationships with our clients and confidence in our innovative solutions for the capital markets,” said Maninder Singh Grewal, CEO – Religare Technova Ltd.

RHB will upgrade to version 3.1 of NOVA and will continue to review their Operations and IT procedures to maximise the benefits of the new features available. Future enhancements to the NOVA Margin module will also be implemented in addition to ongoing improvements for the back office.