Liberty Ermitage selects Panopticon’s treemap solution

Stockholm, Sweden, September 5, 2005 – Panopticon, the supplier of real-time visualisation tools, today announced that Liberty Ermitage, one of Europe’s market leaders in the Hedge Fund of Fund and Hedge Fund Seeding arena, chose to use Panopticon’s solutions to add value to their investment process.

Liberty Ermitage, who recently won Standard & Poor’s 2005 Fund Management Awards in four offshore categories has, together with Panopticon’s partner Kynetix Technology Group, developed a rigorous investment process where Panopticon’s treemaps are used as the front end. The treemaps are used by the research and investment analysis groups extensively during the hedge fund management process.

Says Ian Cadby, CEO & CIO of Liberty Ermitage “In the past we used a stand alone, rather static tool that gave us various statistics, but to analyse the vast amount of output required substantial time and effort. What made us decide to integrate Panopticon’s solution was simply that it allows us to analyse a massive amount of data extremely quickly. By utilising Panopticon’s software we can more efficiently manipulate, analyse and interpret the data. This allows us to spot investment opportunities in a more timely fashion.”

"We are pleased that Liberty Ermitage has chosen Panopticon’s treemaps to help meet the needs of a broad range of users in their investment process," said Willem De Geer, CEO, Panopticon Software.

One of the applications used for manager selection allows Liberty Ermitage to find a manager based on certain quantitative and qualitative parameters. The treemap allows the user to slice and dice the data and bring up those managers that match the requested parameters.

On the strategy side, a treemap application is used to see what is going on in the hedge fund world. Previously, Liberty Ermitage had to rely on articles and Excel analysis which were both extremely time consuming. With the new application Liberty Ermitage can do a better analysis in shorter time.

Liberty Ermitage’s advanced, proprietary in-house system - called Lewis - is built by Kynetix and feeds all data to Panopticon’s treemap. Lewis provides rich quantitative analysis on over 5,000 hedge funds involving multiple investment strategies and sub-strategies. It is able to provide peer group analysis in seconds as well as detailed, publication quality fact sheets and reports.

The UK regulator, the FSA, has recently announced that Hedge Funds should have more transparency to their investment processes and decisions. Lewis and treemaps provide major advances in that transparency, allowing Liberty Ermitage to ensure liability and accuracy of the data at the same time.

The installation was completed within two weeks and the users have found the treemap applications fast and easy to understand; they are already seeing competitive benefits and anticipate a fast ROI.

About Panopticon

Panopticon offers Visual Business Intelligence software for financial institutions, telecommunications firms and other organizations that must make decisions based on very large datasets and real-time streaming data feeds. The company offers a variety of enterprise and desktop products as well as a comprehensive SDK that allows clients to integrate Panopticon’s visualization technology with their own systems and workflows. Panopticon and its clients have won several technology awards from Euromoney and The Banker for their implementations of Panopticon technology. Clients include JP Morgan, Fidelity, Reuters, and Citi. The company has offices in New York, London and Stockholm.

All trademarks used herein, whether recognized or not, are the properties of their respective companies.

For more information, contact:

In Europe:
Robert Ekström, CEO, email: robert.ekstrom _at_ panopticon.com, Tel: +46 (0)8 53 480 480
Panopticon Software AB, Brunnsgatan 9, SE-111 87 Stockholm, Sweden

In the US:
Sam Giertz, President, email: sam.giertz _at_ panopticon.com, Tel: +1 212 907 6420
Panopticon Software USA, The Chrysler Center, 405 Lexington, 26th Floor
New York, NY 10174 USA