NEWS RELEASE
FOR: Simplex Solutions Inc.

March 6, 2006

Simplex Consulting Limited forms Strategic Alliance with OriginWave

LONDON, ENGLAND - March 6, 2006. Simplex Consulting Limited (Simplex), today announced that it has entered into a strategic alliance with OriginWave Tech Software Pyt Ltd. (OriginWave), an India-based company, experienced in the provision of offshore software application development and support services for the hedge fund and asset management industry. Simplex and OriginWave have agreed to work together to collaborate to offer services to potential customers with the initial target being customers located in the UK. Under the alliance, Simplex is to provide business consultancy and be the principal on-site presence for customers and OriginWave and OriginWave will provide offshore development capability and technology expertise. Simplex and OriginWave will each continue to carry on their separate businesses, however, under the alliance, both will give each other a right of first refusal on proposals involving customers in the hedge fund and asset management industry. The alliance follows Simplex's growing business in the hedge fund space and OriginWave's efforts to select a UK partner with strong ties to the hedge fund and asset management communities.

"OriginWave was established by former Goldman Sachs employees and our domain expertise is complementary to Simplex. Having contacted industry participants, it became obvious that Simplex's expertise in post-trade operations is well-known. This made them a good fit for our growth plans in the UK market and beyond. The synergies between our two companies made for an ideal alliance", stated Navin Ram, CEO of Origin Wave.

David Reeve, CEO of Simplex said, "Since 1997 Simplex has been providing post-trade consultancy to hedge funds and asset managers and now works with many of the UK's largest hedge funds. In February of 2005 Simplex launched SecAS, our Securities Administration Solution. SecAS is a managed 'pay-as-you-go' service providing customers with remote access to a set of post-trade software modules including ETC / ETD, Reconciliations, and SWIFT. SecAS already has live users but we are always looking for other value-added software which our customers can use. OriginWave provides cost-effective offshore development as well as a number of unique proprietary software products. Together we provide a cost-effective and comprehensive solution for outsourcing back office operations."

Peter Jeffs, Head of Simplex's Securities Division added, "Simplex is a small but highly responsive company. Based on our track record in this area, a number of our clients indicated their interest in working with us in an extended capacity. Since the move into outsourcing is core to our strategy, Simplex is both hungry for the business and flexible in its approach to delivery."

About OriginWave - www.originwave.com

OriginWave works with leading hedge funds and asset managers around the world. The company's clients range in size from US$20 million - US$10billion in Assets Under Management (AUM), and are spread across Sydney, Tokyo, Hong Kong, London and New York. Origin Wave develops technology solutions for all different types of investment strategies. The company also has partnerships with the prime brokerage departments of leading investment banks and numerous vendors and providers of financial services and market data.

About Simplex Consulting Ltd - www.simplexconsulting.com

Since 1997, Simplex has been recognized as one of Europe's leading STP consultancies. The company specializes in selecting and implementing solutions for the middle and back office for many of the world's leading banks, asset managers and hedge funds. In 2003, Simplex was selected by SWIFT to become an accredited SWIFT Service Partner. In 2004, Simplex launched the UK's first SWIFT ASP-based Service Bureau. At the beginning of 2005 Simplex announced unique ASP propositions: Simplex's Payments Administration System (PAYS) for Banking & Corporates provides a range of payments related services including Message Transformation, Invoice Matching, Manual Payment Creation, Payment Authorisation, Delivery, and Reporting. Simplex's Securities Administration Solution (SecAS) for the securities market provides modules for corporate actions, Electronic Trade Confirmation (ETC), Electronic Trade Delivery (ETD), Reconciliations, and SWIFT.

FOR FURTHER INFORMATION PLEASE CONTACT:

Philip Walsh
Head of Business Development
Simplex Solutions Inc.
Tel: +44 (0) 20 7653 1380