April 7, 2008 | Press Release

New Delhi, April 7, 2008: Nucleus Software (NSE: NUCLEUS, BSE: NSEL), a leading global provider of next generation software products for banking and financial sector, today announced that its flagship product FinnOne™ has been selected by Reem Finance, one of leading non banking financial institutions headquartered in Abu Dhabi. With this win, Nucleus has further strengthened its leadership position as a premier lending solution provider for the financial industry in the Middle East Region.

Reem Finance, incorporated in February 2008 is a financial institution providing financial services for businesses and individuals. It is licensed and regulated by the Central Bank of the UAE. Reem Finance has been established as a joint stock company with an issued capital base of AED 400 million by leading business groups in the UAE including Sorouh, Reem Investments, First Gulf Bank and Al Qudra Holdings.

As a new start up, Reem Finance was looking at a comprehensive solution to cater to end-to-end needs of its lending business. FinnOne™ Customer Acquisition System, Lending, Collections and General Ledger was the best fit looking at the proficiency in automating, consolidating and providing operational excellence in the lending business for the entity. FinnOne™ Suite will provide Reem finance a strategic advantage by increasing its profitability ensuring reduced turn around time in processing and disbursing loans, managing its delinquent customers.

Commenting on the selection, Mr. Nicholas Lehmann, CEO, Reem Finance, said, “Nucleus' unique product offerings combined with their unsurpassed reliability provides our organization an unparalleled opportunity to gain a competitive edge and endow our customers with world class services tirelessly and efficiently. As the competition in the market intensifies, we need solutions that allow us to fulfill business requirements with speed and agility, and Nucleus' products set the benchmark in these areas as well.”

“We are pleased to partner with Reem Finance as it is one of the leading NBFC in the region. This will provide us with unique opportunity to strengthen our presence in the Middle East region and to assimilate, tailor our products to meet the unique challenges in the region” says Vishnu R. Dusad, CEO & Managing Director, Nucleus Software Exports Limited.

About Reem Finance:

Reem Finance is an Abu Dhabi headquartered finance company incorporated in February 2008 as a financial institution providing financial services for businesses and individuals. The company is licensed and regulated by the Central Bank of the UAE. Reem Finance has been established as a joint stock company with an issued capital base of AED 400 million by leading business groups in the UAE including Sorouh, Reem Investments, First Gulf Bank and Al Qudra Holdings. Reem Finance prides itself on offering fresh thinking and taking a creative approach to finance. From the moment the customer makes an enquiry through to delivery of the agreed product, Reem Finance believes that the process should be as simple and stress free as possible. The company provides a wide range of innovative products and services both standardized and structured, that meet financial needs of individual and corporate customers. The impressive Head office is based in Al Bateen, Abu Dhabi, and reflects the company's commitment to quality. Customer service hours are between 8:00 am and 5:00 pm, Sunday to Thursday but corporate customers will have access to an out of hour’s service. The latest in financial technology has been employed with the Nucleus FinnOne™ banking software being implemented across all products. From the start the company has adopted a proactive Emiratisation and training policy with over 20% of the workforce being UAE Nationals.