About Delta Neutral International Delta Neutral International Ltd

Orc Algorithmic Trading, the multi-threaded, server-based algorithmic tradingsolution capable of running thousands of complex trading strategiessimultaneously, is available on the Orc Trading platform. Orc Trading is used byfinancial firms worldwide for enhanced trading, pricing and risk management onelectronically traded derivatives. Orc Algorithmic Trading technology tools include Orc Liquidator and OrcLiquidity Access The deal was booked in Q4 2008. About Orc Softwares revenue model This agreement follows Orcs licensing subscription model to give customersaccess to software, new versions and support as long as the agreement is valid.Customers are invoiced quarterly in advance and revenue allocated to theinvoicing period.

About Delta Neutral International Delta Neutral International Ltd. (DNI) is a proprietary trading firmheadquartered in Auckland, New Zealand. Its business focus is derivatives marketmaking and statistical arbitrage trading among all major Asian markets. Asmarket makers they seek to provide liquidity in derivative markets, and activelyparticipate in arbitrage opportunities among correlated products. The corebusiness is its technology, proprietary trading algorithms, efficient datadissemination and expert personnel. Delta Neutral believes that the growth of electronic trading is still in itsinfancy and that it will continue exponentially for some time. Their intent isto grow by leveraging its experience and expertise in algorithmic, statisticalarbitrage trading.

Delta Neutral is well positioned regardless of how the markettransformation continues due to its unique expertise in Asian electronicallytraded markets. About Orc Software Orc Software (SSE: ORC) is the leading global provider of powerful solutions forthe worldwide financial industry in the critical areas of advanced derivativestrading and low latency connectivity. Orc Trading and Orc Connect provide the tools for making the best trading andconnectivity decisions....strong analytics, unmatched market access, powerfulautomation trading functionality, high performance futures and options tradingcapabilities, ultra-low latency, and risk management. Orcs customers include leading banks, trading and market-making firms,exchanges, brokerage houses, institutional investors and hedge funds.