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Tamarac Inc. Closes $2.1 Million Investment Round

Secondary Funding Brings Company $3.4 Million to Date

SEATTLE, WA, February 26, 2002 - Tamarac, Inc. (www.tamaracinc.com), creators of the first Web-based tax-efficient platform for separate account management and multi-disciplinary accounts, today announced the closing of its Series B round of funding, totaling $2.1 million. This brings total venture funding for the company to $3.4 million since inception in May 2000.

Spangler Ventures, LLC (www.spanglerventures.net), the private equity arm of Spangler Financial Group, a multi-family investment office, led the Series B round, with additional participation from Optimal Ventures, LLC, based in Southern California, and existing Tamarac investors.

"We are committed to our mission of helping large financial institutions transition their businesses to the delivery of customized services for their clients," said Joe Snell, Chairman of Tamarac. In addition to serving leading Registered Investment Advisor businesses, Tamarac's now proven, first-to-market concept is available to separate account program managers and broker-dealers. Tamarac's platform enables individualized service in a programmatic way by allowing firms and their professionals to directly control - in an automated fashion - the costs, trade volume, and taxable consequences of individual client portfolios.

"Tamarac's tools are ideally suited for mutual funds, separate account managers, broker dealers and other large financial institutions looking to implement and scale customized, individual account management and multi-disciplinary account programs," said Matt Springer, Tamarac's CEO. "We are pleased to have obtained the financing that will permit us to deliver and install our technology in these markets at the front of the curve in a changing industry."

"Tamarac is poised to take advantage of substantial changes in the financial services world, among the biggest I have seen since entering the industry in 1982," said Mark F. Spangler, President of Spangler Financial Group, and a former two-time Chairman of the National Association of Personal Financial Advisors (NAPFA) Board of Directors and a recipient of NAPFA's Distinguished Service Award, which is given each year to the individual deemed to have made the most significant contribution to the financial services industry. "They have built the right solution at the right time, and I am pleased that we are in a position to be a major investor and supporter." Mr. Spangler will join Tamarac's board of directors as Vice Chairman.

About Tamarac Inc.

Founded in 2000, Tamarac focuses on web-based portfolio rebalancing and trading software and consulting services for investment professionals that enable them to grow their business by automating critical portfolio management tasks. Tamarac is the leading portfolio rebalancing software provider with a collective client AUM in excess of $100 billion. Tamarac maintains over a 95% client renewal rate by working with each client to implement its technology and providing continuous support.

Tamarac is headquartered in Seattle, WA. Its website address is: http://www.tamaracinc.com