Warren Sherman President Kamakura Corporation 1-201-600-7542 wsherman@kamakuraco.com www.kamakuraco.com www.kris-online.com

FOR IMMEDIATE RELEASE:

Professor Jens Hilscher Named Senior Research Fellow at Kamakura Corporation

HONOLULU, February 6, 2008: Kamakura Corporation reported today that Professor Jens Hilscher has been appointed Senior Research Fellow at Kamakura Corporation. Professor Hilscher will continue to serve as Assistant Professor of Finance at Brandeis International Business School, located in Waltham, Massachusetts, while working with Kamakura. Professor Hilscher earned his Ph.D. in Economics from Harvard University in 2005 and received his Master of Science degree in Economics (1999) and Bachelors of Science degree in Economics with First Class Honors (1998) from the London School of Economics. He is the co-author of "In Search of Distress Risk," a model of corporate default risk, with John Campbell and Jan Szilagyi forthcoming in the Journal of Finance. A copy of the paper is available on the research section of Kamakura's web site www.kamakuraco.com.

"We are delighted to have a promising scholar like Jens Hilscher join the research effort at Kamakura," said Professor Robert Jarrow, Kamakura Corporation Managing Director for Research and Ronald and Susan Lynch Professor of Investment Management at the Johnson School of Business at Cornell University. "Jens' outstanding academic training and his experience at the European Central Bank and Chase Manhattan Bank give him a unique perspective on the critical needs of Kamakura's risk management clients around the world. We know he will make a great contribution to both the Kamakura Risk Manager enterprise risk management software system and the default probability products offered via Kamakura Risk Information Services."

"Professor Hilscher's work in corporate default modeling is extremely impressive, and we are very pleased to have Jens involved in taking Kamakura's KRIS default probability technology to an even higher level," said Warren Sherman, Kamakura President and Chief Operating Officer. "The rapid growth of Kamakura's client base throughout Europe makes Jens' international outlook on risk management in general and credit risk in particular an extremely valuable perspective for our clients. All of us at Kamakura look forward to working with Jens in the decades ahead."

About Kamakura Corporation

Founded in 1990, Kamakura Corporation is a leading provider of risk management information, processing and software. Kamakura has been a provider of daily default probabilities and default correlations for listed companies since November, 2002. Kamakura launched its collateralized debt obligation (CDO) pricing service KRIS-CDO in April 2007. Kamakura is also the first company in the world to develop and install a fully integrated enterprise risk management system that analyzes credit risk, market risk, asset and liability management, transfer pricing, and capital allocation. Kamakura has served more than 160 clients ranging in size from $3 billion in assets to $1.6 trillion in assets. Kamakura's risk management products are currently used in 25 countries, including the United States, Canada, Germany, the Netherlands, France, Austria, Switzerland, the United Kingdom, Poland, Eastern Europe, the Middle East, Africa, Australia, Japan, China, Korea and many other countries in Asia. Kamakura has world-wide distribution alliances with IPS-Sendero and Unisys, making Kamakura products available in almost every major city around the globe.

For more information contact:

Kamakura Corporation
2222 Kalakaua Ave.
Suite 1400
Honolulu, HI 96815
Telephone: 1-808-791-9888
Facsimile: 1-808-791-9898
E-mail: wsherman@kamakuraco.com
Web site: www.kamakuraco.com