Mondial Announces Withdrawal From Advent Alliance Program

Apr 24, 2001, 01:00 ET from Mondial Ltd.

    NEW YORK, April 24 /PRNewswire Interactive News Release/ -- Mondial, a
 provider of IT Professional Services has withdrawn from the Advent Alliance
 Program.  After struggling for over a year with project coordination issues as
 well as intractable technological and economic concerns regarding the
 provision of IT professional services under the program, Advent and Mondial
 have decided that an alliance under the program is no longer viable.
     Mondial's withdrawal from the program does not change Mondial's commitment
 to providing professional services to the Asset Management Community.  Mondial
 will continue to support clients that use Advent Software as Mondial has for
 the last 5 years and continue to focus on providing IT Professional services
 to its clients in the capital market sector.
     In an effort to better serve its clients Mondial will no longer affiliate
 exclusively with any single vendor solution but support a variety of vendor
 solutions.  These vendor solutions will not be limited to portfolio management
 but all areas in which Mondial has integration and software development
 expertise such as data warehousing, client reporting, trade order and risk
 management solutions for the capital markets sector.  Mondial feels that the
 demand for automation of operations at both buy side and sell side firms,
 particularly, driven by straight through processing (STP) initiatives and T+1
 trade settlement requirements, will be strong for the next 2 to 3 years.
 Mondial is committed to providing integration and software development
 services to meet these needs.
 
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SOURCE Mondial Ltd.
    NEW YORK, April 24 /PRNewswire Interactive News Release/ -- Mondial, a
 provider of IT Professional Services has withdrawn from the Advent Alliance
 Program.  After struggling for over a year with project coordination issues as
 well as intractable technological and economic concerns regarding the
 provision of IT professional services under the program, Advent and Mondial
 have decided that an alliance under the program is no longer viable.
     Mondial's withdrawal from the program does not change Mondial's commitment
 to providing professional services to the Asset Management Community.  Mondial
 will continue to support clients that use Advent Software as Mondial has for
 the last 5 years and continue to focus on providing IT Professional services
 to its clients in the capital market sector.
     In an effort to better serve its clients Mondial will no longer affiliate
 exclusively with any single vendor solution but support a variety of vendor
 solutions.  These vendor solutions will not be limited to portfolio management
 but all areas in which Mondial has integration and software development
 expertise such as data warehousing, client reporting, trade order and risk
 management solutions for the capital markets sector.  Mondial feels that the
 demand for automation of operations at both buy side and sell side firms,
 particularly, driven by straight through processing (STP) initiatives and T+1
 trade settlement requirements, will be strong for the next 2 to 3 years.
 Mondial is committed to providing integration and software development
 services to meet these needs.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X48374584
 
 SOURCE  Mondial Ltd.