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PriMuni Launches Revolutionary Powerloom Enabled Trading Solution

PriMuni changes the game for primary market municipal bond distribution built on Powerloom's Business Intelligence 2.0

PITTSBURGH, P.A. - November 12, 2001 - Today Powerloom® Corp., the leading provider of multi-industry software solutions that enable intelligent real-time decisions in dynamic, complex environments, announced that PriMuni® LLC launched its' revolutionary service for municipal bonds based on Powerloom's Business Intelligence 2.0.

PriMuni's online trading solution enables issuers in the $186 billion municipal bond market to more efficiently place bonds with retail customers by creating a direct connection between the issuers and retail brokers. While other electronic trading platforms seek to disintermediate the retail broker, PriMuni improves the retail order solicitation process between brokers, retail desks and underwriters.

"With the proprietary PriMuni system," said C. Talbot Heppenstall, Jr., President of PriMuni L.L.C., "we will produce savings for the issuers while also providing higher yields for retail investors and higher commissions for the retail broker. It's a win-win for everyone."

As PriMuni's application evolves, it will increasingly leverage four proprietary technology components from Powerloom's Business Intelligence 2.0 technology suite:
- The identification engine, used by PriMuni to match supply and demand for a constantly changing set of municipal bonds, continually exposes items in large, complex, multi-dimensional data sets from real-time and static public and private information sources.
- Smart agents enable PriMuni users to fully describe bonds that meet specific investment criteria. The smart agents automatically and continuously monitor for new issues and allow users to establish sophisticated trading rules.
- Notification tools that inform a user when smart agents find potential investments. Real-time choices can be examined in real-time.
- Analytics for evaluating alternative investment choices based on bond characteristics and external market conditions.

"PriMuni spotlights how Powerloom is building innovative, value creating solutions for the financial services arena," said Michael Foster, Vice President of Financial Sector. "We are excited about the opportunity to work closely with PriMuni in launching this innovative solution."

About Powerloom
Powerloom Corporation is the leading provider of multi-industry software solutions that enable intelligent real-time decisions in dynamic, complex environments. Applying proven financial markets techniques to match complex supply and demand, Powerloom's scalable, J2EE solution provides enhanced value in the form of faster, more accurate decision making. The patent-pending technology rapidly and efficiently identifies, informs and acts on complex, multi-dimensional information found in private and public sources. Our J2EE components are platform independent solutions and can be easily integrated into or provide the foundation for industry-specific applications. Powerloom can be contacted at 1.412.880.5300 or at www.powerloom.com.

About PriMuni
PriMuni, L.L.C. is revolutionizing the distribution of primary municipal bonds. PriMuni's on-line trading solution enables issuers to place bonds with retail customers bypassing the current inefficient, highly fragmented, over-the-counter market. While other electronic trading platforms seek to disintermediate the retail broker, PriMuni improves the retail order solicitation process between brokers, retail desks and underwriters. PriMuni can be contacted at 1.800.890.7229 or at www.primuni.com.
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For more information, press only:
Dwight Dietrich, 1.412.880.5300, press@powerloom.com



   
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