RMB MULTIMANAGERS TO USE “HIP” FUNDS OF HEDGE FUNDS PORTFOLIO MANAGEMENT SYSTEM FROM YOUDEVISE

NEW YORK & LONDON, June 27, 2006 – youDevise Limited, a leading provider of on-demand applications for financial markets, today announced that RMB MultiManagers has decided to use the Hedge Fund Information Provider (the HIP) as the primary portfolio management platform for its funds of hedge funds business.

London-based RMB MultiManagers, which has some US $2.3 billion under management, is part of the FirstRand Group, one of the largest listed financial service companies in South Africa. RMB MultiManagers will use the HIP to replace an in-house system based on linked spreadsheets.

youDevise also reported that RMB is sponsoring the development of a new Leveraged Portfolios Module for the HIP. The module will enable funds of hedge funds to track performance, interest, and other key components specifically related to such portfolios.

“We are delighted to have RMB as another major user and sponsor of the HIP,” said Owain McNeill, Business Manager of Alternative Investments at youDevise. “RMB has a well-known reputation for forward-thinking and innovation, having established many of the products and services in the specialized area of multi-management and fund of hedge funds investment. Our partnership is helping to pioneer a whole shift in the funds of hedge funds industry, from informal spreadsheets to formal, systematized practices.”

“We were pleased to discover the HIP,” said Robert Rhodes, Chief Operations Officer of RMB MultiManagers. “We had spent considerable effort searching for a portfolio management system for our funds of hedge funds. The HIP gives us new power to stay on top of all the information related to our positions, in a way that is not possible using spreadsheets.”

In early May, Key Asset Management of London, another pioneer in the funds of hedge funds business, with $1.2 billion under management, became youDevise’s inaugural client for the HIP. In 1990, Key launched a multi-strategy fund of hedge fund which has generated positive returns every year for the last 16 years

About the HIP

The HIP is the first portfolio management system for solving critical fund of hedge fund management, risk, compliance and cost issues, particularly those resulting from over-reliance on error-prone spreadsheets. The HIP also introduces Straight Through Processing (STP) methods to the funds of hedge funds industry. Known for its use in stock transactions, STP enables funds of hedge funds and their administrators, as well as the hedge funds in which they invest, to exchange data electronically, reducing reliance on error-prone phone calls, faxes, emails, and multiple spreadsheet entries.

Major capabilities of the HIP include Portfolio Management, for tracking and evaluating investments in underlying funds; Shadow Accounting for monitoring, reconciling and forecasting portfolio cash, payables/receivables, and FX balances; Liquidity, for determining how much cash is redeemable from hedge funds over time; and FX Hedging, calculating exposure, hedging needs and determining gains/losses on existing hedges. The HIP also provides compliance with investment guidelines, eliminates the need for multiple data entry, and enables automatic electronic feeds from external third-party administration and in-house systems.

The HIP is securely accessed using a standard Internet browser on an on-demand basis, and supports funds of hedge funds of all sizes and complexities. The web-hosted format allows customers to initiate its use in days, with full migration in less than a month’s time, and provides exceptional security. Annual fees are a fraction of the cost of developing in-house systems. The underlying technology is the same as that employed by youDevise to build the Repository & Distribution Center (RDC) for Citigroup, Credit Suisse, Dresdner Kleinwort Wasserstein and Merrill Lynch. The RDC is an industry utility that enables the secure exchange of trade ideas between brokerage firms and their money manager and hedge fund clients.

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Contacts:

Owain McNeill, Business Manager of Alternative Investments, youDevise Limited, London
+44-20-7826-4319
owain.mcneill@youdevise.com

Jeff McKenzie, Public Relations, Anreder & Company, New York City
+1-212-532-3232
jeff.mckenzie@anreder.com

Christine Chen, Marketing Manager, RMB MultiManagers Limited
+44-20-7939-1767
christine.chen@rmbmultimanagers.com

About RMB MultiManagers

RMB MultiManagers (www.rmbmultimanagers.com) provides specialist investment management services -- both traditional and alternative strategies -- to institutional clients. RMB MultiManagers is part of the FirstRand Group. The FirstRand Group was created in 1998 through the merger of the financial services interests of Anglo American Corporation and Rand Merchant Bank (RMB). The Group provides retail banking services, merchant banking, asset management and property management as well as providing life insurance and pensions fund services. The FirstRand Group is one of the largest quoted companies in South Africa, with a market cap of US $11.5 billion and assets under management and administration of US $92.2 billion as of 30 June 2005.

About youDevise Limited

youDevise Limited (www.youDevise.com), based in London, provides on-demand applications for financial markets. The company’s leading applications provide portfolio management for liquid and illiquid assets. They include the Trade Idea Monitor (the TIM), for the high-speed communication of equity trade ideas and portfolio ideas between institutional brokers and their money manager and hedge fund clients, and the Hedge Fund Information Provider (the HIP), the first commercially available portfolio management system for funds of hedge funds. All youDevise’ applications leverage its proprietary Information Distribution Server (IDS), which facilitates the exchange of data between different market participants.