Press Releases

Newark, Calif. – May 6, 2002 – Risk Management Solutions (RMS) today announced the release of cleaned and enhanced historical temperature data for Italy and enhanced historical temperature data for Japan. For the past 4 years, RMS and its strategic partner EarthSat have collaborated on improving the deficiencies in raw historical weather data by identifying and removing discontinuities. The cleaned and enhanced data sets for Italy, Japan, and five other countries are now available for licensing from RMS and are also available in RMS' Climetrix® weather derivatives trading and risk management system.

The new cleaned and enhanced data sets for Italy contain 41 years of daily data for 15 Italian weather stations. The data was sourced directly from the Italian Air Force (Aeronautica Militare) and is the most complete and highest quality climatological data available for Italian locations.

The new enhanced Japanese data set covers 20 weather stations in Japan and is a complement to the 47 stations of cleaned Japanese data that were released in August 2001. All of the data was sourced directly from the Japan Meteorological Association (JMA).

In addition to historical data for these countries, RMS and EarthSat have added daily feeds of prior-day weather recordings and medium range forecasts. This data is automatically updated each morning in the local time zone for each country to ensure that users have access to the most recent data available. The feeds of prior-day measurements are the official values issued by Aeronautica Militare and the JMA. RMS and EarthSat fill in any missing values using standard market conventions.

Climetrix (www.climetrix.com) is an Internet-based application that provides integrated access to all of the data, advanced pricing tools, and portfolio management capabilities necessary for successful participation in the weather market. Since the initial release of Climetrix in July 2000, more than 70% of active weather market participants have licensed the system or the underlying weather data. More information on the Italian and Japanese data described in this press release, including complete station listings, can be accessed at http://www.climetrix.com/ProductServices/WeatherData/

Risk Management Solutions is the world’s leading provider of products and services for catastrophe, weather, and enterprise risk management. More than 400 leading insurers, reinsurers, trading companies, and other financial institutions rely on RMS models to quantify, manage, and transfer risk. Founded at Stanford University in 1988, RMS serves clients today from offices in the U.S., Europe, and Japan. For more information, visit our website at www.rms.com.

Climetrix, RMS, and the RMS logo are trademarks of Risk Management Solutions, Inc. All other trademarks are property of their respective owners.