COCC EXPANDS AGREEMENT WITH OPEN SOLUTIONS INC. – SECURES LATEST SYSTEM CAPABILITIES, BROADENS PRODUCT BASE

AVON, Conn. and GLASTONBURY, Conn., January 11, 2005 — COCC, a provider of next generation data processing services for financial institutions, today announced that it has expanded its software agreement with Open Solutions Inc., a provider of integrated enabling technologies for community financial institutions throughout the United States and Canada. This expanded agreement will ensure that COCC’s client institutions have the most advanced and broadest range of technology available from Open Solutions. Under terms of the agreement both companies will work more closely together to continue developing the next level of financial computing solutions. This partnership, which represents a considerable long-term economic commitment by COCC to resell Open Solutions’ product offerings, will allow both organizations to better address the growing demand for relational technology and service within the marketplace.

“COCC is absolutely committed to delivering all of the latest processing capabilities,” said COCC’s President and CEO, Richard A. Leone. “Today’s expanded agreement gives our client institutions access to more of Open Solutions’ state-of-the-art data processing solutions. We know our clients will be more profitable and efficient as a result of this agreement.”

The COCC/Open Solutions strategic partnership dates back to 1997 when COCC first partnered with Open Solutions to replace its legacy mainframe system with Open Solutions’ next generation open relational platform. COCC completed the migration of its entire outsourced client base to the Open Solutions’ core processing platform in 2003. COCC is the only financial data processing center in the United States to accomplish this feat.

Today’s agreement ensures that COCC has access to the latest products available from Open Solutions; an industry focused product line designed to integrate and leverage the power of the relational core data processing architecture including financial accounting tools, loan origination, imaging, Internet banking, cash management and particularly cView, a CRM/business intelligence suite which helps customer-contact personnel offer the most logical and profitable banking products to individual consumers. Additional Open Solutions’ products such as “Relational Search/Teller Express” further streamline teller operations and enhance the financial institution’s ability to manage customer relationships.

“Partnerships such as this one with Open Solutions are an important part of our strategy of providing total quality processing to our client institutions,” said Joe Trafton, COCC’s Senior Vice President – Strategic Alliances and Development. “We find companies who do the job best, then integrate their solutions into our overall data processing service mix. We believe this is the most effective way to serve our clients.”

Trafton said that COCC will actively market the latest features of the Open Solutions system from this point forward. The agreement continues and enhances COCC’s access to such applications as Open Solutions’ eCommerce Banker suite and allows these Internet banking functions to be more closely integrated with COCC’s core processing platform. “Internet Banking is an important growth channel for our client institutions,” said Trafton. “Being able to add functionality at market speed and to price it to promote channel growth is in our mutual interest.”

The Open Solutions technology is one of the few platforms that experienced significant client growth over the past few years. COCC increased its total number of clients by 31% last year alone, and continues to experience strong market interest in its advanced technology. Open Solutions has achieved impressive growth as well, highlighted by a 95% increase in the value of new client contracts in the third quarter, 2004 over the same quarter in 2003.

Both companies see further opportunity as the availability of proven architectures that are open, flexible, and real-time are adopted by leading financial institutions. Open Solutions’ Chairman and CEO, Louis Hernandez, Jr., said, “Rather than continue to bolt on middleware and front-end systems, more and more financial institutions are choosing to address and replace the heart of the problem, the underlying legacy core data processing platform, with newer relational technology at the core. We believe that we are at the early stages of this wholesale shift away from legacy technology and as a result, COCC and Open Solutions are positioned to take an active leadership role in this transformation within our industry.”

According to Hernandez, “A strong partnership just got stronger and we anticipate additional benefits for both companies as we continue our efforts to bring an advanced level of technology, service and capability to the financial services marketplace. We are pleased to deepen our relationship with COCC and we look forward to taking this strategic partnership to the next level.”