WALTHAM, MA -- (MARKET WIRE) -- 03/09/07 --

Who: Guillermo Kopp, Global Research Fellow, TowerGroup; Jeff DeRose, Technology Evangelist for OpenPages; and Scott Kwarta, Director of Risk Advisory Services for OpenPages

What: Financial Services Risk Management roundtable event: Turning Risk and Compliance Cost into a Profitable Business Investment

Where: Millennium Hilton, 55 Church Street, New York, New York 10007

When: Tuesday, March 20, 2007; 8:00am EDT

The fully loaded cost of risk and compliance across the financial services industry will reach an estimated global total in the range of 330 billion USD in 2007. In addition to unnecessary duplication in technology, more than 80% of this cost is still comprised of direct administrative expenses (e.g., compliance, risk management, operational and financial controls) and includes the administrative overhead that is also loaded on most line and management functions.

Financial Services organizations are under a tremendous amount of pressure to better understand and manage their risk while maintaining the necessary capital to account for potential risk events as mandated by Basel II. However, organizations that not only learn how to better identify potential risk exposures, but can also understand where previously unknown risk exposures exist, will be better positioned to leverage that knowledge for business gain.

Please join Guillermo Kopp, Global Research Fellow, TowerGroup and OpenPages for a Financial Services Risk Management roundtable on the importance of adopting advanced risk management systems to optimize the risk and reward profile of their business portfolio and to add value to critical business initiatives. This roundtable will focus on how organizations can leverage both known and unknown risk exposures to improve the overall business -- decreasing the capital mandated to protect financial services from risk exposures and subsequently reinvesting that saved capital back into the business. As a result, financial services organizations are better-run, better-governed and are able to make more strategic business decisions than ever before.

This roundtable event will help participants understand:

--  Key business drivers
--  Top industry trends
--  Risk and compliance convergence
--  Operational risk beyond regulation
--  Capital management
--  Enabling technologies
--  Roadmap to realize business value
    

In addition, Jeff DeRose, Technology Evangelist for OpenPages; and Scott Kwarta, Director of Risk Advisory Services for OpenPages will describe how OpenPages' new Governance Platform implements the components of an effective and strategic risk management process in a highly configurable and comprehensive fashion, thus delivering improved visibility and better decision support around enterprise risk management.

About Guillermo Kopp, Executive Director and Global Research Fellow at TowerGroup

Guillermo Kopp is TowerGroup's Executive Director and Global Research Fellow and leads the corporate strategy and business growth function. Guillermo's advice on a wide range of business and technology trends and directions affecting the financial services industry has influenced fundamental change at leading institutions and vendors. He speaks frequently at industry events and is quoted in industry publications on strategic topics including customer-oriented innovation, business process improvement, risk management, outsourcing, IT investments, and information technology architectures. Prior to his current role, Guillermo served as Vice President of Cross-Industry research, and before joining TowerGroup in 2002, he served at Citigroup for 16 years in diverse information technology and business leadership roles across all lines of business.

About OpenPages

OpenPages is the leading provider of enterprise risk management software solutions. The company's solutions provide the visibility, decision support and control to improve accountability, better-manage risk, achieve compliance with numerous regulations, improve operational performance and align strategies to ensure better results.

Market-leading corporations in financial services, manufacturing, telecommunications, media/entertainment, retail/consumer, energy, high technology, health services and life sciences rely on OpenPages to help them achieve sustainable governance, risk and compliance management -- enabling them to become well-governed businesses. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with regional offices throughout North America and international offices in London, Tokyo, Munich, Hong Kong, and Paris.

For more information on OpenPages' suite of business governance software solutions or to register for an online demonstration, please call 781-693-5999 or visit www.openpages.com.

OpenPages is a trademark of OpenPages, Inc. All other trademarks contained herein are the property of their respective owners.

Contacts:

OpenPages
Brian Cleary
OpenPages
781.693.5921
Email Contact

North America
Michael Parker
Lois Paul & Partners
781.782.5714
Email Contact

Europe
Charlotte Hanson
Harvard Public Relations
+44 208 564 6331
Email Contact