July 19, 9:30am Eastern Time

Citibank's Worldwide Securities Services Wins Prestigious Operations Management Dream Team Award for OIS Supplied Solution

SANDY HOOK, CT, July 19, 2002 - Open Information Systems, a leading provider of Web Enablement and Corporate Trust Accounting systems, announced today that Citibank's Worldwide Securities Services division recently received Institutional Investor's and Operations Management's Dream Team Award for Best Use of the Internet for Operations. Citibank's award winning application CitiDirect® IPA, was provided by Open Information Systems, which used its OIS Information Manager™ technology to develop the application on behalf of Citibank.

This innovative Citibank Agency and Trust service supports their Euro Commercial Paper and Medium Term Note programs and was launched using a complete Open Information Systems ("OIS") provided solution. Using OIS' state of the art Web enablement technology, Information Manager™, Citibank now permits its clients to conduct transactions on-line and provides immediate access to issuance, payment, and account balance information.

"Citibank had a clear vision of how they wanted to improve their Corporate Trust client service by adopting a web delivery model," said Tom McMackin, Co-founder and Chairman of Open Information Systems. "OIS is proud to have brought this vision to life using our OIS Information Manager technology that permitted us to rapidly deliver CitiDirect® IPA. We congratulate Citibank for receiving Operation Management's Dream Team award, which is a direct reflection of Citibank's client service focus."

"We feel that this award is an affirmation of the years of hard work that our employees have put in to making Information Manager and Money Market Manager the industry's leaders on a global basis. They have evolved our products functionality and kept up with the technical innovations of a rapidly moving Internet environment. Our goal is to continue to maintain our product leadership and expand our business line while managing the growth of the company," McMackin continued.

Operations Management sponsored the inaugural 2002 Dream Team Awards to recognize industry "Superstars" in eight categories. The awards dinner raised funds to support Save the Children's programs in Afghanistan. Institutional Investor publishes Operations Management.

Since 1994 Open Information Systems, (OIS) has been providing innovative Internet based solutions to Fortune 1000 companies worldwide. OIS' ability to rapidly deliver custom branded Corporate Trust and Internet solutions for the data delivery and transaction initiation needs of the Financial Services Industry is without parallel. OIS' clients include some of the most prestigious banks, brokerage firms and insurance companies from around the world including J.P. Morgan Chase, Citibank, Bank of Tokyo, U.S. Bancorp and SEI Investments. OIS is the only software firm with a major research and development program focused on the Corporate Trust market. Open Information Systems is a privately held company located in Sandy Hook, CT. For more information about the company and its products visit www.openinfo.com.

For further Information, please contact:
Tom McMackin
Principal
Open Information System
Tel 203 270 4530 x105
tcm@openinfo.com

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