RNS Number:5344Q
Statpro Group PLC
06 October 2003


                                                          Monday, 6 October 2003

                               STATPRO GROUP PLC
                           ("StatPro" or the "Group")

                     Acquisition of risk management system


In line with its stated strategy to develop a complementary multi-product
offering, StatPro Group plc, the leading AIM listed provider of performance
measurement solutions for the global asset management industry, is pleased to
announce the acquisition of a risk management system. StatPro is subscribing
Euro400,000 (approximately #280,000) for a 51% stake in RiskMap srl, ("RiskMap"),
an Italian financial software development company.


Background to and reasons for the acquisition

Recent turbulence in the financial markets has shifted fund manager attention to
focus not only on returns from equities and fixed income investments, but also
the associated risks. StatPro has established a strong track record in the
successful integration and development of complementary products and is already
a leader in the performance measurement market with its transaction-based,
daily, security level equity attribution system. In late 2002 StatPro launched
its complementary transaction-based, daily, security level Fixed income
attribution system.

It has been the Group's belief for some time that there is significant demand in
the market for an integrated risk and performance analysis solution and a
complementary risk management product will enable StatPro to take advantage of
this growing market. The Group anticipates interest from both its existing
client base and from other portfolio managers globally as they continuously seek
to improve their portfolio performance reporting and the analysis of their risk
profile.

The risk management system has been developed by the team at RiskMap led by
Dario Cintioli, an expert in risk management and reporting techniques, including
"Value at Risk", which provides a monetary measure of the risk of a portfolio.
Mr. Cintioli, CEO of RiskMap, has developed the product over three years
following many years' experience working in leading Italian financial
institutions. RiskMap reported revenue of Euro400,000 in the year ended 31 December
2002, representing a growth of 30% over 2001, and an operating loss of
approximately Euro160,000. RiskMap has seven employees and is based in Milan,
Italy.


Acquisition of 51% stake in RiskMap

StatPro is subscribing Euro400,000 (approximately #280,000) for a 51% stake in
RiskMap. Under the terms of the acquisition, StatPro has an option to acquire
(and the existing shareholders have a corresponding option to sell) the
remaining 49%. The option is exercisable between 31 December 2006 and 31
December 2013. To determine the amount payable under the option the value of
RiskMap will be derived by applying a formula of one times the annual recurring
revenue generated by the RiskMap products globally. This will be adjusted by
additional increments for revenue generated in Italy and adjusted for the net
assets on exercise of the option. StatPro has also entered into a commercial
revenue-sharing agreement whereby StatPro has the worldwide exclusive rights to
licence the RiskMap products in return for a fee.


The Italian market

As part of the transaction, RiskMap will promote StatPro's products in the
Italian market, through its existing Milan base and will be renamed StatPro
Italia.

Commenting on the transaction Justin Wheatley, Chief Executive of StatPro Group,
said: "The acquisition of a risk management solution is an important step
forward in our strategy of developing a suite of complementary products for the
global asset management industry.

We believe that our new product StatPro Risk Management will be capable of
becoming the market leader and represents a low cost and low risk entry into
this market.

We therefore look forward to a successful collaboration, the benefits of which
we expect to see in 2004 and beyond."

Commenting on the transaction Dario Cintioli, CEO of RiskMap, said: "StatPro has
an enviable list of clients in 25 countries and we look forward to working with
StatPro and the opportunity to expand the client base for our risk product
globally. The transaction represents an excellent opportunity for us to
establish a strong global position for StatPro's Analytics systems."

                                      - Ends -

For further information, please contact:

StatPro Group plc                   www.statpro.com
Justin Wheatley, Chief Executive    +44 (0)20 8410 9876
Andrew Fabian, Finance Director     +44 (0)20 8410 9876

RiskMap
Dario Cintioli, CEO                 +39 02 43317510

Weber Shandwick Square Mile
Reg Hoare/Rachel Taylor             +44 (0)20 7067 0700


StatPro is a leading supplier of performance measurement software for Asset
Managers worldwide. With over 140 contracts and a growing portfolio of products,
StatPro is setting the standards for the global asset management industry for
innovation and development.

RiskMap is a software development company based in Milan, Italy, with a leading
risk management system for portfolio risk analysis.

ENDS


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

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