New York, N.Y., July 25, 1995. Smith Barney Shearson has selected the TechHackers @nalyst spreadsheet function add-in software for inclusion in its dynamic new Capital markets trading system, according to A Jain, President of TechHackers. The powerful calculational software is already installed and n use by traders on the government bond desk in smith Barney Shearson’s Capital Markets Group.

The installation of the @nalyst function libraries follows Smith Barney Shearson’s purchase of 50 "floating" site licenses to serve several hundred representatives on the trading desk. This arrangement is in keeping with estimates that about 50 individuals will have the @nalyst software in actual use at any one time.

Installation of the TechHackers software is part of a major technology initiative that Smith Barney Shearson has mounted since the new financial services organization was formed through the merger of Smith Barney, Harris Upham & Co. and the retail units of Shearson Lehman in 1993. Under the direction Mel Taub, Senior Executive Vice President, Operations and Systems, and Peter Fischer, Senior Vice President, Capital Markets Research and Investment Systems, the organization has been developing a state-of-the-art client/server trading system.

The comprehensive new system is being implemented in stages as Smith Barney Shearson moves its trading units into a consolidated new facility on Greenwich Street in Manhattan. The system features the Reuters Triarch 2000 digital data distribution system and the UNIX-based Applix Real Time spreadsheet program. Last month Sun Microsystems Computer Company announced it will provide more than 1,000 systems, including both SPARCstation™ 20 workstations and SPARCserver™ 1000 servers running the Solaris 2™ operating environment, as the platform for the new trading applications.

@nalyst function add-in libraries provide comprehensive batteries of industry-standard financial calculation functions that augment spreadsheet programs such as Applix Real Time. The added @nalyst calculations operate as integral functions of the spreadsheet, allowing traders and analysts to automatically perform complex financial calculations, such as options pricing, yields, and risk metrics, in single operations.

"The integration of the @nalyst function add-in libraries to our new trading floor system is in keeping with our emphasis on vertical systems integration," Mr. Fischer observed. "We are moving as much functionality as possible onto the trading floor workstations so that our traders can perform every aspect of a transaction, from analysis to execution, smoothly and cost-effectively."

"Smith Barney Shearson’s decision to incorporate @nalyst in a mission-critical trading application is testimony to the value and reliability of this very affordable product," Mr. Jain of TechHackers commented. "@nalyst libraries provide the functionality needed to handle the most complex and volatile financial products. The broad range of functions included in the @nalyst libraries will also help Smith Barney Shearson traders to meet evolving requirements in the future."

Based in New York, TechHackers is a software engineering and systems architecture firm that builds customized securities trading and portfolio management systems for the world’s leading financial services firms. TechHackers has served as systems designer and consultants to such industry leaders as Citicorp Investment Bank, Union Bank of Switzerland, Goldman Sachs, Nomura Securities, and Greenwich Capital Markets. The company also develops and markets the @nalyst line of spreadsheet function add-ins and C libraries. @nalyst libraries are currently used by more than 50,000 professionals worldwide.