Absa Signs for TRIAD^TM Adaptive Control System Strategy Consulting

Cape Town, 28 March 2006 – Absa, one of Africa’s largest financial services institutions, has signed a Strategy Consulting agreement with PIC Solutions to support its Customer Management TRIAD system.

The TRIAD system, from Fair Isaac Corporation, is the world’s leading account and customer management system and is used by nearly 300 portfolios worldwide to make more than 44 billion business decisions annually. The system combines predictive analytics, decision-making software and expert strategy consulting to improve credit and customer management decisions.

Absa is a long time user of the TRIAD system which has contributed to the improved efficiencies in the Bank’s collections processes and marketing strategies. Through this consulting contract, PIC Solutions strategy consultants will provide on-going credit risk management support to the Bank at product and customer level.

Tjaart van der Walt, General Manager of Group Credit Shared Services at Absa, comments, “PIC Solutions has been involved in implementing and managing the TRIAD system since it was first implemented in the Bank. Their experience and knowledge of the system and their understanding of our business policies has ensured that we develop and apply effective credit risk strategies. This consulting contract will provide us with the expertise we need to continue to make successful strategic decisions.”

Dave Lewis, Director of Consulting at PIC Solutions, adds, “The Bank’s strategies will continue to change and grow with them. Absa has experienced significant improvements to their credit and marketing strategies and our risk management consulting team will work closely with them to ensure that they continue to receive the full benefits of the TRIAD system.”