Mark-it Partners and eClerx Partner to Enhance Customers' Risk Management Processes

London, 04 August 2004 - Mark-it Partners Ltd. ("Mark-it"), the world's first integrated daily pricing service for global credit derivatives, cash credit instruments and syndicated loan pricing, and eClerx ("eClerx"), a leading provider of data and risk analysis services to Fortune 500 firms, today announce that they have partnered to provide joint clients with risk benchmarking services using Mark-it credit and RED data. The alliance will enable customers to make more informed trading decisions and to significantly increase returns.

eClerx, headquartered in Mumbai, India, currently manages data and risk analysis projects for a number of leading investment banks, some of which involve reviewing large volumes of derivative confirmations to identify basis risk and potential trading opportunities. Under the new partnership, eClerx will have full and timely access to Mark-it Partners' data on a daily basis, allowing it to quickly, fully and accurately benchmark a firm's position risk to Mark-it's reference and market data. Under the alliance, eClerx will be able to identify legacy trades confirmed using incorrect reference entity or reference obligation information or those that have been booked to incorrect booking curves given implied risk.

Anjan Malik, Director of eClerx said, "This alliance allows us to deliver a richer set of risk analysis to our customers, more quickly and thoroughly than we are able to at present. Mark-it has become the reference and market data standard for the credit products markets, and our ability to benchmark a customer's risk against Mark-it's data in this fashion ultimately means dollars and cents for our customers."

Lance Uggla, CEO of Mark-it Partners, said, "In addition to the benefits which our clients have from using our credit curves and RED on a daily basis, an enormous amount of value accrues from a full and well thought through integration across an organisation. We have worked with eClerx to identify and refine these sweet spots and are delighted at the additional benefits that they can extract for our clients."

Daniel Rodrigues, COO of Credit Derivatives Trading at Bear Stearns said, "We use Mark-it Partners market and reference data in many different ways across our firm and also have a long-standing relationship with eClerx. There is no doubt that the combination of Mark-it's data and eClerx's services will bring very powerful benefits."

- Ends -

For further information, please contact:

eClerx

Mark-it Partners

Citigate Dewe Rogerson

Rebeca Denny/Clare Allison
Tel: +44 (0)20 7638 9571
Email: firstname.lastname@citigatedr.co.uk

Notes to Editors

About eClerx

eClerx provides data and risk analyses services to a number of Fortune 500 companies, including some of the word's leading global investment banks. eClerx's services include contract analyses, risk analyses, decision-support analytics, and data mining, reconciliation and integration. eClerx is a 250-person company headquartered out of Mumbai, India.

About Mark-it Partners

Launched in February 2003, Mark-it Partners Ltd (www.mark-it.com) is an independent company offering the world's first daily service for pricing credit derivatives and cash credit instruments, providing credit data to any market participant for the first time.

The partner firms are:

• ABN Amro
• Bank of America
• Bear Sterns
• Citigroup
• Credit Suisse First Boston
• Deutsche Bank
• Dresdner Kleinwort Wasserstein
• Goldman Sachs
• JP Morgan
• Lehman Brothers
• Merrill Lynch
• Morgan Stanley
• TD Securities