Lombard Risk Management Regulatory News (LRM)

28 Jul 2006 13:57

Lombard Risk Management PLC28 July 2006 For immediate release 28 July 2006 Lombard Risk Management plc (the "Group" or "Lombard Risk") Trading update Lombard Risk Management plc, the leading risk management, valuation andregulatory reporting software company, announces an update on trading. The Group announced in its final results announcement on 4th July 2006 that ithad achieved revenues in the June quarter of approximately £2.0m. These wererecognizable revenues rather than orders received or contracts awarded, andcompared with revenues of £4.7m for the previous financial year ending March2006. The Group is now pleased to announce that in the month of July it has signed twosignificant new contracts for its STB-Reporter regulatory reporting product aswell as a number of smaller deals. The Group has also made good progress withits other products and is in the final stages of contract negotiations for anumber of other deals for Colline. The two contracts for STB-Reporter between them have a value in the first yearof around £0.7m, and are significant for the Group not only in size but instrategic importance. Allied Irish Bank has contracted the Group's subsidiarySTB Systems to deliver its bank regulatory reporting on a global basis includingIreland, the United Kingdom and several Western European countries as well asNew York. Standard Bank of South Africa has contracted STB Systems to deliverSouth African Reserve Bank ("SARB") reporting in addition to its existingrelationship with STB Systems for bank reporting in several other jurisdictionsincluding the United Kingdom and Hong Kong. Lombard Risk, through STB Systems, is the market leader for U.K. Bank RegulatoryReporting with over 140 out of 350 banks in the U.K. using the STB-Reporterproduct for regulatory reporting to the FSA. Enquiries: Lombard Risk Management plcJohn Wisbey, Chairman & CEOTel: +44 20 7384 5000e: john.wisbey@lombardrisk.com Noble & Company (Nominated Advisors)Matthew Hall, DirectorTel: +44 20 7763 2200 Notes to the editor Lombard Risk Management plc is a fast growing company focused on software andindependent valuation services for the financial industry. Lombard Risk'ssoftware is in the areas of valuation, risk management and regulation. LombardRisk's Colline(R) software, which is delivered either as software or as an ASPservice, is a market leader in collateral management. Lombard Risk's groupcompany STB Systems is the market leader for bank regulatory reporting softwarein the UK through the STB-Reporter product. The Group's Oberon(R) and Firmament(R) software products allow customers to value and manage risk on a wide varietyof financial instruments with a primary focus on interest rate, credit andforeign exchange derivative and cash markets. The STB-Detector product is fastestablishing itself as a mid-market leader in anti money laundering andfinancial crime detection. Headquartered in London, with offices in New York, Shanghai, Hong Kong,Singapore and Johannesburg, Lombard Risk's main customer base consists of banks,investment firms, asset managers, hedge funds and fund administrators, andenergy companies. In the UK Lombard Risk does business with over 40% of the 350banks that operate in the UK. Internationally Lombard Risk has dealings withover 20 of the top 50 banks in the world and many of the leading names in thehedge fund industry. Lombard Risk's shares were admitted in 2004 to AIM, the London Stock Exchange'sspecialist market for growth companies, and have the ticker symbol LRM. This information is provided by RNS The company news service from the London Stock Exchange