Columbus Avenue Consulting and Paladyne Systems Team to Provide Next Generation Reporting and Reconciliation Solution for Fund Administrators New York, San Francisco, and London, April 29, 2008 –Paladyne Systems, Inc., a leading solutions provider for the hedge fund industry, today announced that it has licensed its Paladyne Analytics Master™ to Columbus Avenue Consulting, a global provider of onshore and offshore administrative services to hedge funds and funds of hedge funds. Columbus Avenue Consulting will host Paladyne Analytics Master directly and provide its clients web-based access to Paladyne’s comprehensive custom reporting, data analysis, and automated reconciliation software. Paladyne has fully integrated Paladyne Analytics Master with Columbus Avenue’s accounting engine, SunGard’s Visual Portfolio Manager™ (“VPM”).

Paladyne Analytics Master provides fund administrators with a dynamic reporting and data warehouse platform accessible by both the administrator and its clients. As a result, fund administrators may use Paladyne Analytics Master internally for report creation and distribution, but may also provide their end clients with web-based access to the same reporting and data analysis solution.

Paladyne Analytics Master is also used by administrators as an automated reconciliation tool. Paladyne’s data warehouse is used to reconcile external data sources such as prime broker and counterparty information with the administrators’ internal accounting system. Paladyne Analytics Master also provides fund administrators the ability to reconcile their internal accounting system directly with a client’s own in-house version of VPM or Advent Geneva™. The automatic reconciliation of the administrators’ and client’s books and records on a daily basis significantly reduces month-end processing time for the administrator and insures data consistency with the client.

“We explored several reporting and data analysis tools to offer our clients, and chose Paladyne Analytics Master for its broad functionality and its seamless integration with our portfolio accounting and back-office solution, Visual Portfolio Manager,” said Joe Holman, Founder and Managing Partner of Columbus Avenue Consulting. “Paladyne Analytics Master will provide our fund manager clients with direct access to their accounting and operational data, including NAV, P&L, performance, and transaction activity either on-demand or on a daily basis.”

“We are excited to be providing Columbus Avenue with a unique technology offering that will help it expand and differentiate its fund administration services,” said Sameer Shalaby, Chief Executive Officer of Paladyne Systems. “In addition to providing Columbus Avenue’s clients with more flexible and timely reporting tools, Paladyne Analytics Master will significantly reduce reporting costs and improve overall data integrity.”

The full PALADYNE suite, which includes Paladyne Portfolio Master™, Paladyne Price Master™ and Paladyne Security Master™ as well as Paladyne Analytics Master™, is available either as a fully hosted ASP solution or as a local installation. About Columbus Avenue Consulting
Columbus Avenue Consulting, LLC (www.columbusavenue.com) is a fund administrator dedicated exclusively to the hedge fund industry. With over $6 billion in assets under administration, Columbus offers global onshore and offshore administrative services to hedge fund and fund of hedge fund clients. The firm provides a wide spectrum of services which include daily NAV calculations, traditional portfolio accounting, tax and operational consulting, accurate and timely reporting, and investor services. Columbus Avenue’s solutions are delivered using the finest technologies available, and its client service professionals are seasoned veterans of the industry. About Paladyne Systems
Paladyne Systems, Inc. (www.paladynesys.com), a leading solutions provider for the hedge fund industry, develops and distributes technology designed to streamline hedge fund operations while providing business efficiency and cost savings throughout the organization. Paladyne offers a fully-hosted technology platform known as the PALADYNE™ suite which is capable of supporting the front- to back-office requirements of today’s most comprehensive hedge funds. The PALADYNE™ suite is an integrated set of applications including:  order management, portfolio management, general ledger, global security master, pricing and valuation, data warehousing, and custom reporting.  Paladyne was formed in 2005 through an acquisition of its technology platform from a large US-based multi-strategy hedge fund.

CONTACT:

Media Contacts
Stephanie Doane, Columbus Avenue Consulting - Marketing, Media
212-500-6249
sdoane@columbusavenue.com

Scott Alderson, Paladyne US Sales
(212) 616-4306
salderson@paladynesys.com

David Simmonds , Paladyne European Sales
+44 (0) 20 7153 4958
dsimmonds@paladynesys.com

Lisa Jane O'Neil, Paladyne Media
212-786-7629 or 917-361-8303
lisajane@ljoassociates.com

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