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Tamarac Announces Enhanced Functionality and New Product Suite

Offering Addresses Multiple Delivery Methods, Account and Model Permissioning, Advanced Filtering, User Entitlements, Private Labeling and Customization for Separately Managed Accounts (SMAs)

Seattle, September 18, 2003 - Tamarac Inc. (www.tamaracinc.com), a leading provider of separate account management technology, announced today the availability of Tamarac Version 4.0. Tamarac 4.0 introduces functions that make the product more suitable for brokerage houses, sponsors and money managers seeking to distribute separately managed accounts, multi-strategy accounts and multi-disciplinary accounts on a mass commercial scale.

Tamarac 4.0 delivers the ability for the application to reside within virtually any working environment whether it be an Application Service Provider (ASP) delivery, enterprise offering or embedded within the framework of another application or platform.

These multiple delivery methods are represented with the following offerings in the Tamarac 4.0 suite:
Tamarac ASP - ASP offering branded with client's logo and color scheme
Tamarac Enterprise - ASP offering installed and hosted by the client with their logo and color scheme
Tamarac Embedded - ASP offering residing within a client's existing infrastructure or product delivery platform
Tamarac Web Services - Elements of ASP offering delivered as a standalone service
Functionality added to Tamarac 4.0 includes:

Permissioning � Ability to grant permission at the account and model level. Provides specific access and functionality for users to share their work with other users or publish models across an enterprise.

Advanced Filtering � Provides the ability to run filters by accounts, users, compliance, cash, custodians, models, strategies, security type, tickers, tracking error and taxes.

Customization � Delivers on the promise of true SMA customization on scale. Apply account level customizations across multiple accounts easily and efficiently.

Private Labeling � Ability for any firm to brand the application as their own.

User Entitlements � Ability to grant different levels of access to the product's functionality based on user type. Admin, Assistant, Compliance, Research and Advisor roles supported.

"Our initial customers have been institutional money managers, Turnkey Asset Management Providers, RIAs and bank and trust departments," said Matt Springer, Tamarac President. "Most of the new functionality and features in 4.0 were designed to satisfy the demands of brokerage firms, separate account sponsors and other large firms we are now talking to who want to use Tamarac to power SMA, MSA and MDA programs and asset management initiatives. These firms need to be able to process hundreds, thousands, or even tens of thousands of portfolios at the same time."

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