Client event provides opportunity for company and CFS clients to ‘move forward together’

GLASTONBURY, Conn.--(BUSINESS WIRE)--Open Solutions Inc.® (NASDAQ: OPEN), a provider of integrated enabling technologies for financial services providers across the United States, Canada and other international markets, hosted its annual Corporate Financial Solutions (CFS) Client Conference at the J.W. Marriott in Washington D.C. Sept. 17-19, 2006. In attendance were some of the country’s largest insurance companies and banks representing Open Solutions’ CFS Group, which is made up of Asset Retention Solutions (ARS) and Health Savings Account (HSA) businesses, respectively. The conference consisted of two tracks, one for each line of business.

CFS Conference attendees had the opportunity to network with peers and members of the Open Solutions senior executive management team. The goal was to provide a networking environment in which senior leaders could interact at the highest level and provide valuable feedback on how Open Solutions and the CFS client organizations can work together more effectively in the future. Attendees discussed current issues facing the financial services industry and offered direction on how Open Solutions could better assist them.

New to the event was the ARS Client Association, a client-driven vehicle that will communicate service enhancements, and provide an idea-sharing forum that will assess, in part, regulatory changes and trends. ARS attendees were invited to participate in the association with the leadership of client association chairman, Don Hoover, director of process management for Prudential, and client association vice chairman, Brooks Gordon, vice president of retention for Genworth Financial

This year’s CFS Client Conference offered Open Solutions’ HSA banking clients insight into future trends affecting the HSA market: investment alternatives for HSAs and how to develop and grow HSA business within financial institutions.

“At Open Solutions, we pride ourselves on continually consulting our clients on how we can better serve them,” said Robert Pinataro, Open Solutions’ vice president and general manager of Corporate Financial Solutions. “The CFS annual forum is an informative experience for all attendees and serves as an example of our dedication and commitment to our clients. It provides an environment that’s conducive to the sharing of ideas and networking with other Open Solutions clients and partners, allowing them to discuss consumer, industry and regulatory trends and innovations.”

Added Louis Hernandez, CEO of Open Solutions, “We believe in creating a culture of innovation and choice so that we can offer our clients options to assist in meeting their organizational goals and those of their clients. Our CFS division consists of a client-driven team of experts and innovators, and we’re proud that it has enabled our clients to protect their assets, grow profitable revenues and provide superb service to their accountholders. We believe there is major growth potential in this market and plan to invest accordingly.”

About Asset Retention Solutions

With the maturation of the insurance market, 95 percent of top life insurers have adopted customer access account (CAA) programs to handle death benefits distribution. Through Open Solutions’ Asset Retention Solutions, many of these organizations use this powerful tool to help preserve investment income and expand beneficiary relationships by boosting cross sale opportunities through personalized service. As the nation’s largest third-party administrator of CAAs, Open Solutions has enabled more than 120 major carriers to expand their asset retention programs and enhance customer service.

About Health Savings Accounts

Open Solutions has developed sophisticated tools to meet full HSA processing requirements. We were one of the first companies to provide a proven outsourced HSA solution that can help companies reach the market quickly; meet compliance and regulatory requirements; deliver secure access to information, transactions, balances, and investment tools; and deploy a flexible yet comprehensive program. Our full suite of capabilities has enabled our banking clients to establish enviable growth of accountholders, making us one of the largest HSA service providers in the U.S.

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 relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, Web hosting and design, and payment and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States and Canada 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. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2006 Open Solutions Inc. All rights reserved.

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. For example, government regulation of our business could cause us to incur significant expenses, and failure to comply with applicable regulations could make our business less efficient or impossible. 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" in Open Solutions' Quarterly Report on Form 10-Q for the three months ended June 30, 2006, as filed with the Securities and Exchange Commission.

Editors Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.

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

© Business Wire 2006