Longitude Inc. Teams Up with Capital Risk LLC

November 30, 2001

Longitude Inc. entered into a strategic relationship with Capital Risk LLC for the development of weather risk management products using Longitude’s Parimutuel Digital Call Auction(TM) (PDCA(TM)) technology.

PDCA technology provides new derivatives and risk management products to its customers without assuming the market risks customarily associated with the facilitation of risk transfer.

Stuart Mercer, CEO at Capital Risk, commented that Longitude’s PDCA technology is an ideal solution for the weather markets. Mercer noted that lack of liquidity has limited the development of weather derivatives, and the company sees enormous potential for PDCA technology to address the unique needs of weather risk management.

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