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     FXall Successfully Implements Kovair Global Life Cycle for Customer On-boarding and
                                    Helpdesk Management

Milpitas, CA, July 24, 2008 – Kovair Software, Inc. today announced that FXall, the world’s leading
foreign exchange platform and provider of workflow solutions for foreign exchange and treasury
products has successfully implemented Kovair Global Lifecycle Enterprise software for managing and
automating their Customer On-boarding and Helpdesk processes.

"Kovair Global Lifecycle provides an industry leading Process engine to automate a wide range of
business and IT processes," said Kovair Chief Technology Officer, Sky Basu. "With the help of Kovair
Global Lifecycle’s 100% browser based interface, FXall is able to streamline and automate its On-
boarding and Helpdesk Processes across their six offices in N. America, Europe, Asia and Australia."

Minor Huffman, Chief Technology Officer at FXall said “Our trading volumes continue to increase
rapidly with average daily volumes of over $98bn last year and overall volumes up by 39% year on year
in Q1. With almost 1,000.participants world-wide we required a solution that could help us manage such
high level of growth. We believe that the power of Kovair’s Lifecycle management capability as well as
its superior Workflow technology delivers the versatility and functionality we demand”.

Kovair Software, Inc.’s flagship product, Kovair Global Lifecycle, is a feature-rich, configurable
global development and integration platform that offers a complete set of integrated tools and
processes for managing the entire application lifecycle. Architected with a common user
interface and a single shared repository to ease the complexities of “any time, anywhere”
development, Kovair Global Lifecycle has been adopted rapidly in market sectors where there is
a critical need for automated workflow and reliable, predictable application lifecycle
management processes.

About Kovair Software, Inc.
Kovair Software, Inc. is the innovation leader in global application lifecycle management
solutions, supporting globally distributed multi-site application development. It’s flagship
product, Kovair Global Lifecycle, is a feature-rich, configurable, global development and
integration framework that offers a complete set of integrated tools and processes for managing
the entire application lifecycle. Architected with a common user interface and a shared repository
to ease the complexities of “any time, anywhere” development, Kovair Global Lifecycle has
been adopted rapidly in market sectors where there is a critical need for automated workflow and
reliable, predictable application lifecycle management processes as implemented by Kovair’s
Omniprocess, Workflow for IT™. Kovair includes built-in SDLC applications like Requirements
Management, Change Management, and Helpdesk Management in addition to solutions for
CMMI, ITIL, Project Portfolio Management or Agile Methodology. Kovair’s integration
infrastructure - Omnibus, Integration Bus for IT™ for third party tools provides customers with
an extremely flexible and globally integrated development environment. Founded in the year
2000, Kovair Software has offices in Silicon Valley, California and Kolkata, India.

For more information, visit www.kovair.com or call 408-262-0200 x2007.

About FX Alliance, LLC
FXall is the leading provider of automated trading and workflow solutions for FX and treasury, offering
trade execution, workflow tools, control and compliance and straight-through processing. By combining
streamlined workflow, competitive FX prices and a complete audit trail, FXall delivers improved control
and cost savings at every stage of the deal lifecycle. FXall provides customers with the ability to meet
best practice guidelines prescribed by regulatory bodies. FXall is an independent company with offices
in New York, London, Boston, Tokyo and Singapore.

For more information visit: http://www.fxall.com/about/BestPracticeFX.pdf

Contact:

Sky Basu
Kovair Software, Inc.
skyb@kovair.com
408-262-0200 x2007
http://www.kovair.com

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