<body.content> <block> <p>HAUPPAUGE, N.Y., Sept. 29 /PRNewswire/ — CorrectNet, the leading provider of web reporting solutions to asset managers, launched its Cayman data centerthrough Brac Informatics in response to client demands. As stated in the article ‘A New Wave’ in International Custody and Fund Administration Magazine’s June issue, the Cayman Islands, “According tothe US Offshore Funds Directory, the jurisdiction houses roughly 51% of the world’s hedge funds.”</p> <p>”Providing a service that adheres to jurisdictional requirements of half of ourmarket is clearly not negotiable. Brac Informatics was the only company with a facility that met our rigorous hosting standards,” Stated Bob Miller, CEO of CorrectNet. “Their ISO 17799 compliantfacility and redundant network access (OC3 capable) are just some of the things we were looking for. The sensitive nature of financial data and superior application performance requires robustinfrastructures.”</p> <p>”The growing funds market in the Cayman Islands adds to the breadth of services we provide as an International Financial Centre. Cayman’s competitive advantage isin large part due to our world-class professional services infrastructure. The Cayman Islands have become renowned for having first tier banks, accounting firms, law firms, insurance managers and nowfund administrators.” Nancy Ewing, President of Brac Informatics stated. She went on to note, “Sophisticated, reliable information technology services have become a fundamental component of thisprofessional services infrastructure. We expect the availability of the CorrectNet services, the leading data consolidation tool for asset managers, within the Cayman legal jurisdiction willaccelerate the success of our funds industry.”</p> <p>CorrectNet’s technology, which can be rapidly deployed within 60 to 90 days in any jurisdiction to meet client demands, enables fundsto provide dynamic investor/shareholder and fund information securely on the Internet. Their turnkey service consolidates data from multiple systems including portfolio and shareholder accounting,performance, and risk analysis systems and enriches that data with dynamic drill downs, charts, graphs, and third party content and analytics.</p> <p style=”pre” id=”pre1″> Please visitCorrectNet’s web site for more information.
About CorrectNet, Inc. </p> <p>CorrectNet (<a>http://www.correctnet.com/</a>) is the leader in Web Reporting and Data Consolidation solutions for asset managers. CorrectNet consolidates complex financial data from multiple existing accounting, portfolio, and performance systems, and securely delivers this information to fund managers and their investor/shareholders. Their proprietary technology transforms this data into powerful web-based presentations with drill-downs, charting, and third-party content. CorrectNet’s Investor and Manager Reporting solutions are delivered as a turnkey service to over 750 firms through relationships with the leading fund administrators, prime brokers, and service providers.</p> <p>About Brac Informatics Centre, Ltd.</p> <p>Brac Informatics (<a>http://www.bracinformatics.com/</a>) is a full service Data and Disaster Recovery Centre licensed and regulated by the Cayman Islands ICTA. From their world-class hardened facility in the Cayman Islands they service clients throughout the Caribbean, North and South America. As the only full service IT provider based in the Cayman Islands, Brac Informatics’ services range from commercial grade web hosting to 24×7 fully managed, affordable solutions for the financial services, insurance and utilities industries. The experienced technology team at Brac Informatics is committed to service excellence.</p> <p style=”pre” id=”pre2″> Contacts:
CorrectNet, Inc. Brac Informatics Centre, Ltd.
200 Motor Parkway 13 Stake Bay Road
Hauppauge, NY 11788 Cayman Brac, Cayman Islands, BWI
Jim Mancuso Michael Crabb
Senior Vice President Chief Operating Officer
Sales & Marketing (345) 948-2722
(631) 434-3333 <virtloc idsrc=”dummy” value=”dummy”>[email protected]</virtloc>
<virtloc idsrc=”dummy” value=”dummy”>[email protected]</virtloc> </p> <datasource>CorrectNet, Inc.</datasource> </block> <block class=”contact”> <p>CONTACT: Jim Mancuso, Senior Vice President, Sales & Marketing,<br/>CorrectNet, Inc., +1-631-434-3333, <virtloc idsrc=”dummy” value=”dummy”>[email protected]</virtloc>; or Michael Crabb,<br/>Chief Operating Officer, Brac Informatics Centre, Ltd., +1-345-948-2722,<br/><virtloc idsrc=”dummy” value=”dummy”>[email protected]</virtloc> </p> </block> <block class=”website”> <p>Web site: <a>http://www.correctnet.com/</a><br/><a>http://www.bracinformatics.com/</a> </p> </block> </body.content>
