Great-West Life and Annuity Insurance Company Licenses the STARS Visual Structuring System™

STARS VST™ helps investors keep pace with burgeoning market

For Immediate Release

Contact:
Paul Arvidson
Lewtan Technologies, Inc®
781-672-1216
parvidson@lewtan.com
www.lewtan.com

September 30, 1996, Waltham, MA - Lewtan Technologies ("Lewtan"), the leading provider of software, data and analytics to the global securitisation industry, today announced that Great-West Life and Annuity Insurance Company, of Englewood, CO, has licensed the STARS Visual Structuring System (STARS VST), a revolutionary new software solution. STARS VST is an object-oriented solution for conceptualizing, modeling, stress testing, communicating and reverse engineering asset-backed and mortgage-backed securities and private placements.

Great-West chose STARS VST to support and enhance its Structured Finance Acquisition program because it delivers flexible and powerful modeling capabilities with a visually intuitive interface. Stuart Lewtan, President of Lewtan Technologies, Inc., comments, "STARS VST visually combines the conceptualization and modeling stages of structuring a deal into one fast and efficient step. As investors are facing an increasingly competitive environment, they require more sophisticated modeling and analytical tools. We are pleased that STARS VST meets Great-West’s need for such tools." Great-West is the first investor to purchase STARS VST, which was just released in early 1996.

"Great-West is pleased to find a product that helps us keep pace with the rapid growth in the asset-backed securities market. Because STARS VST will provide us with reusable deal templates and objects which will allow us to create a financial model much faster than our current program, we will be able to devote more time to analysis. Additionally, we require a modeling tool that goes beyond base level analytics. STARS VST is that tool." added Mark Corbett, Vice President, Great-West Life.

STARS VST is a breakthrough in the visual modeling of complex financial transactions. It allows the user to draw a picture of a deal, and quickly simulate its performance under multiple what-if scenarios. With STARS VST, even the most complex structure can be designed quickly. By simply dragging pre-defined objects (such as tranches, cashflows, and triggers) into the workspace, drawing lines to connect the objects (the lines represent cash or information flows), the results are immediately visible in user-defined graphs and tables. STARS VST comes complete with pre-defined securitization objects, an internal report writer and also provides a database of reverse engineered deals, which are indicative of the most recent structuring trends. The deals in this database can be used as the starting point for reverse engineering new deals. For the power-user, STARS VST offers a comprehensive visual development environment for building customized objects.

STARS VST, with many pricing options, is available directly from Lewtan Technologies. Standard packages are available for multi-site or multi-users and include a host of pre-modeled deals.

About STARS VST

The STARS family includes Lewtan’s Flagship product, the STARS ABS System, a complete solution for performing all investor reporting and accounting for servicing asset-backed transactions. The STARS Visual Structuring System (VST) is a visually intuitive structuring environment employing CAD technology to model ABS/MBS deals. The STARS Collateral Analysis System is a comprehensive solution for performing pool selection and cash flow modeling for any asset-backed transaction. The STARS Conduit Management System provides the up-front analysis, decision support, ongoing monitoring, and accounting functionality needed to launch and run a successful and profitable multi-asset, multi-currency, asset-backed conduit.

About Lewtan Technologies, Inc.

Lewtan Technologies, Inc.® is the leading provider of software, data and analytics to the global securitization industry. Founded in 1986, Lewtan serves over 200 securitization customers worldwide. In 1999, Lewtan, working with an industry consortium including Standard "&" Poor's, Fitch, Bank One and others, launched ABSNet (www.absnet.net). ABSNet is now the leading Internet source of structured finance news, data, research and analytics, with over 7,000 users in more than 50 countries. Lewtan offers industry participants "Powered by ABSNet" solutions that leverage ABSNet's web infrastructure, database and user base. Solutions benefit issuers, CDO collateral managers, dealers, investors, credit enhancers, trustees, rating agencies and asset-backed CP conduit sponsors.