FIO Fin.Objects

Financial Objects PLC
12 December 2007

PRESS RELEASE


           Financial Objects signs two customers for energycredit 2.0
                     and announces go-live at StatoilHydro


               Financial Objects signs FPL Energy and Calpine,
and delivers first phase of credit risk solution to StatoilHydro's global credit
                                     teams


London and Houston, 12th December 2007 - Financial Objects, a leading provider
of software solutions for energy, wealth management and banking, today announced
that it has signed two new clients for energycredit 2.0, the recently launched
web-enabled version of its credit risk management solution for energy trading
organisations.


FPL Energy, a leading clean energy provider based in Florida, and Calpine, a
Texas-based independent power producer, have both selected energycredit 2.0 to
provide a single view of credit exposures and subsequently improve the
efficiency of their credit risk management processes.


In addition to the web-enabled energycredit platform, the availability of the
new Analytics module was instrumental in the decision of both organisations. The
module provides effective measurement of potential future exposure (PFE), which
is becoming increasingly critical in today's volatile market. Both projects are
now well into their implementation phase.


Furthermore, StatoilHydro, a top 10 global energy company from Scandinavia, has
successfully deployed energycredit, with its credit teams in Norway, the US, the
UK and Singapore able to access the system.


"As an industry award-winning solution we were confident in our choice of
energycredit. With the system implemented in just six months our investment will
soon pay off," said Bjorn Sandmoe, head of Corporate Credit at StatoilHydro. "We
are convinced that our energy trading operations across the globe will benefit
from improved credit risk management through the use of this specialist
solution. We are also very pleased with the way our project team has combined
efforts with Financial Objects to achieve a smooth and timely delivery into
production."


This first phase of the project has already delivered a number of key benefits
to the teams including:

  * Consolidation and enrichment of information previously held in
    spreadsheets and databases into a single system;

  * Reduction in operational risk as all data is maintained in one location;

  * Implementation of a counterparty evaluation workflow process for limit and
    rating changes with access to related information for credit approvals;

  * Global access to contract information, limit overviews and control reports
    via the system's reporting engine.


"StatoilHydro's implementation of energycredit will see it continue to benefit
from effective management of credit exposure," said Roland Jones, managing
director of the Energy division at Financial Objects. "We count the world's
leading energy providers among our customer base and with the FPL Energy and
Calpine contract wins we have further enhanced our leadership position in the
energy credit risk arena. These developments conclude a year of tremendous
progress for the Energy division of Financial Objects from which both we and our
growing community of clients will benefit."


                                    - ends -


About Financial Objects plc

Financial Objects develops and markets software and services to financial
services institutions, wealth and asset managers and energy companies. Financial
Objects is at the forefront of component-based software development, using
industry-standard technology platforms to deliver flexible, robust solutions to
its customer base. Founded in 1995, Financial Objects has more than 500
customers and is listed on the Alternative Investment Market (AIM) of the London
Stock Exchange. It employs more than 300 people across the world with
headquarters in London, UK and a research and development site in Bangalore,
India.

For more information on Financial Objects please visit www.finobj.com


Financial Objects

Roland Jones (London)                  Tel: +44 (0) 20 7836 3010

Glenn Barnett (Houston)                Tel: +1 (713) 520 5770

Metia

Natalie Shamshoum                      Tel: +44 (0) 20 3100 3500


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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