BISIL acquires exclusive rights of E-TES

Rosemont, PA, March 31, 2004 – BISIL NA has acquired all rights to E-TES (Enj-Tax Efficiency Software), formerly known as EYTES – Ernst & Young’s Tax Efficiency Software, in March 2004 for an undisclosed sum.

BISIL has been involved with Ernst & Young in the development of this product since the beginning. BISIL saw a strategic fit in this product. Addition of E-TES to Enj – BISIL’s flagship suite of BPM (Business Process Management) products – will expand and enhance the functionality of its financial services solutions suite.

About E-TES
Enj – Tax Efficiency Software (E-TES) helps investment managers and investors achieve higher after-tax returns in their portfolios through specific identification of investment lots for security sales. This application will be useful for individual investors, mutual funds, investment trusts, investment partnerships etc. E-TES makes its decisions after taking into consideration the tax profile, attributes and objectives of the entity/ investor.

Interface & Platform
E-TES interfaces with different portfolio management and trading systems in the front office to get trading and financial information for its decision-making, and feeds the recommended lot selection to fund accounting systems in the back office.

Established in 1990, BISIL is promoted, owned and managed by professionals and funded by Barings Private Equity Partners, an ING Group company. It is a products and services company and counts some of the leading companies amongst its clients. BISIL has executed several medium and large projects on a turnkey basis. It has rich experience in delivering products using cutting edge technologies along with functional expertise.

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