OPERATIONS

* Blue Frog Solutions enters into an agreement with The DTCC to provide integrated and seamless access to DTCC's Mutual Fund and Insurance Services for both Internet and mainframe customers. * DTCC's shareholders elect four new directors and re-elect 17 to serve on DTCC's Board of Directors. * Capco announces the appointment of Predrag Dizdarevic as executive vice president and head of Capco Solutions.

Blue Frog Solutions, an e-business solutions provider, has entered into an agreement with The Depository Trust & Clearing Corporation (DTCC) to provide integrated and seamless access to DTCC's Mutual Fund and Insurance Services for both Internet and mainframe customers. DTCC's Mutual Fund and Insurance Services provide centralized, standardized platforms for the processing of mutual funds, life insurance and annuity products.

Also DTCC's shareholders, a group consisting of some of the world's leading banks, brokers/dealers, insurance companies, and mutual-fund concerns, have elected four new directors and re-elected 17 to serve on DTCC's Board of Directors. Board members serve one-year terms and also serve as directors for five of DTCC's six subsidiaries. The European Central Counterparty Limited (EuroCCP) subsidiary has its own separate board of directors. The four newly-elected directors are: Jonathan E. Beyman, chief information officer, Lehman Brothers; Frank J. Bisignano, chief administrative officer and senior executive vice president, Citigroup/Salomon Smith Barney's Corporate and Investment Bank; Michael C. Bodson, managing director, Institutional Securities Division, Morgan Stanley; and Catherine R. Kinney, president, co-chief operating officer and executive vice chairman, New York Stock Exchange (NYSE).

Capco, a technology-solutions provider exclusively dedicated to the financial-services industry, announces the appointment of Predrag Dizdarevic as executive vice president and head of Capco Solutions, thereby giving a boost to its Technology Solutions business. Mr. Dizdarevic, formerly president and CEO of Financial Technologies International (FTI), will report directly to Rob Heyvaert, chairman and CEO of Capco, and will be based in New York.

Phoenix Systems Inc. has announced the development of Phoenix's brandable webinterface (FUNDS/E) that will facilitate straight-through processing directly from the Internet into their FUNDS/NET shareholder recordkeeping system. FUNDS/E utilizes the next generation of JAVA web development that has become the standard in the industry for financial-service firms wishing to provide shareholder service and operational efficiency.