Russia, Inc. Has Landed

NEW YORK, November 24, 2000-While Silicon Valley to Silicon Alley champion the success of the Indian and Israeli technology corridors, the end product of Russia's cadre of technologists is quietly getting noticed in America. Despite quips about Cold War holdovers and cement shoes, Russians are increasingly providing the intellectual firepower in capital markets and e-finance technology. Recently, yet another Russian developed project (www.ivolatility.com) was awarded as "the best on the web" (TheStreet.com, 11/2000.) It was particularly noticed because of its complex database that many top investment banks were incapable of building themselves.

These websites and other technology demonstrate Russia's unique ability to develop the next level of high-end technology that bring sophisticated institutional information, trading and execution, financial applications and analytical tools to the desktop and Internet. Traditionally, it has been very difficult to execute these projects because of the technical and mathematical complexity of their development.

"Our Russian development team has proven that clients need not spend millions of dollars to get institutional strength software and e-business solutions," says Mr. Gena Ioffe, chief technology officer and co-founder of EGAR Technology. "We expect to continue to change the systems and e-business development landscape by making available at a fraction of the cost, much of the infrastructure and development expertise that was only available to institutions with large IT budgets."

In Russia, Oleg Doina, head of EGAR Technology's Moscow office remarked, "our expanding presence will ensure that Russia's secret resource of skilled programmers will not stay a secret for much longer."

About EGAR Technology

EGAR Technology provides complete consulting and development services for complex web systems and capital markets software, so clients can confidently and cost effectively expand their IT capabilities. In addition, EGAR Technology offers a suite of software systems geared to financial institutions. EGAR Technology Capital was recently added to our services to offer innovative venture financing to emerging financial technology companies. With offices in New York and Moscow, the consolidated company now boasts one of the fastest growing software, consulting and e-business practices in financial technology.

Our capital markets and technology expertise is our competitive advantage. Virtually 100% of our fast growing team of capital markets specialists, consultants and high-quality programmers have advanced degrees in mathematics, computer science or engineering. Our team's impressive firepower and sophistication inspired the editor of a Wall Street publication to comment that he had never seen such excellence before in our sector.

For more information on this press release or any other EGAR Technology (www.egartech.com) related news, please contact:

Michael Aiken
(+1) 212-223-3552
maiken@EGARTech.com