Shelter Bank Selects Open Solutions For Core Data Processing; Bank to

    Business Editors

    GLASTONBURY, Conn.--(BUSINESS WIRE)--Feb. 22, 2005--Open Solutions Inc. (NASDAQ: OPEN), a provider of integrated enabling technologies for financial institutions, announced that Columbia, Mo.-based Shelter Bank has selected The Complete Banking Solution (TCBS) to process all the institution's core data processing needs. Shelter Bank is an Open Solutions' EastPoint Technologies client that researched other available options in the marketplace and after this evaluation chose to upgrade to the Open Solutions relational platform because of its advanced technology and the scalability of the products. Open Solutions acquired EastPoint Technologies, LLC in June 2004 with the promise of offering their clients more choices in terms of products and services.
    "Our overall goal with each core data processing provider we acquire is to offer its clients more choices as well as a clear migration path to state-of-the art technologies, expanded features, enhanced performance and services," said Jim Kern, SVP & general manager, Banking Group. "Many of our clients from recent acquisitions, like Shelter Bank, are evaluating their options, the advanced products and services that Open Solutions offers, and are choosing to upgrade their technology infrastructure to better address their strategic needs and service their customers."
    Shelter Bank is a wholly-owned subsidiary of an insurance company and distributes its banking products through a 1,300-member insurance network that extends to 13 states. The institution's customers rely heavily on Web-based banking and other methods of electronic delivery channel access.
    "We rarely see our customers," said Ron Wheeling, Shelter Bank president and CEO, "so automation and real-time processing were key requirements for a technology upgrade. Open Solutions offered Shelter Bank an architecture that we believe will be easy to administer and a core data processing platform that was intuitive and database-driven. A legacy product would not have positioned us for future growth or given us what we currently need to keep our customers happy."
    Shelter Bank has opted to run this technology via Open Solutions' Technology Outsourcing Center. Open Solutions' open-based core technology and integrated applications have been designed to help financial institutions like Shelter Bank leverage an outsourced environment while allowing the institution to provide the most current technology to its customers, employees and management.
    Wheeling said, "We are heavily focused on customer growth, sales and service. The Technology Outsourcing Center at Open Solutions gives our institution access to a world-class data center and a modern, open architecture core data processing product with the flexibility we wanted to attain. We believe this decision will give us the tools to accelerate growth in a way that makes the most sense for our current size and unique customer base."
    Shelter Bank also selected Open Solutions' asset/liability management and financial planning products, as well as the general ledger suite, and the Open Solutions COLD application offering. Each of these complementary products and services will further help to round out Shelter Bank's offerings to their customers and assist them in achieving their goals of customer growth, sales and service.
    Geographic constraints played a role in the $118 million-asset institution's selection of Open Solutions' core data processing platform, as well. According to Wheeling, tighter constraints on regulations such as Customer Identification Programs and Know Your Customer requirements made The Complete Banking Solution even more attractive.
    "We like the customer identification features -- scanning customers' pictures and using names rather than account numbers," Wheeling said. "In today's regulatory environment, particularly since we don't always see the customer, these types of features made Open Solutions the clear choice."
    "Open Solutions is proud to be working with Shelter Bank," Louis Hernandez, Jr., Open Solutions' chairman and CEO said. "We're pleased that Shelter Bank, after looking at the options in the marketplace, selected Open Solutions to help them meet their operational and strategic goals. More and more financial institutions are realizing that Open Solutions products and services can help them grow their businesses. Our goal has always been to provide stellar technology solutions, first-rate support and long-term partnerships with the financial services community. We look forward to working with Shelter Bank."

    About Open Solutions Inc.

    Open Solutions Inc. offers a fully-featured strategic product platform that integrates core data processing applications, built on a single centralized Oracle(R) relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, electronic image/item processing, Check 21, interactive voice response, and loan and payment origination solutions. Open Solutions' full suite of products and services is designed to allow banks, thrifts and credit unions to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
    For more information about Open Solutions, or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com, by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.
    Open Solutions Inc(R) and The Complete Credit Union Solution (R) are registered trademarks of Open Solutions Inc. All other company and product names may be trademarks of their respective owners.

    Safe Harbor Statement

    Statements made in this press release that state Open Solutions Inc.'s or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. All forward looking-statements are only as of the date of this press release and Open Solutions Inc. undertakes no obligation to update or revise them. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Open Solutions Inc.'s actual results to differ materially from those projected in such forward-looking statements. Factors which could cause our actual results to differ materially from those projected in forward-looking statements include, without limitation, economic, competitive, governmental and technological factors affecting the banking and credit union industry and/or Open Solutions Inc.'s operations, markets, products, services, prices and other factors set forth under the heading "Factors Affecting Future Operating Results" attached as Exhibit 99.3 to Open Solutions' Current Report on Form 8-K dated Feb. 2, 2005, as filed with the Securities and Exchange Commission on Feb. 4, 2005.

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CONTACT: Open Solutions Inc., Glastonbury Marvin (Mickey) Goldwasser, 860-652-3153 mgoldwasser@opensolutions.com or Media Contact for Open Solutions Andrew McCaskill, 678-781-7210

KEYWORD: CONNECTICUT INDUSTRY KEYWORD: HARDWARE ADVERTISING/MARKETING BANKING SOFTWARE NETWORKING MARKETING AGREEMENTS SOURCE: Open Solutions Inc.

Copyright Business Wire 2005