Credit Guide

Three Northeast-based Institutions Select Open Solutions' e-Commerce Banker Suite

e-Commerce Banker Client-base Continues to Grow

GLASTONBURY, Conn.--(BUSINESS WIRE)--June 9, 2004--Open Solutions Inc. (NASDAQ: OPEN) announced today that three new clients have signed contracts for Open Solutions' e-Commerce Banker(TM) (e-CB) suite of Web-based financial services. PeoplesBank in Holyoke, Mass., Savings Institute in Willimantic, Conn. and Windsor Federal Savings in Windsor, Conn. have selected the comprehensive Internet banking and cash management solution.
The new clients will use the complete e-Commerce Banker product line which enables account holders to use any basic Web browser to access up-to-the-minute transaction history and balances, initiate bill payments, issue stop payments and transfer funds. Business banking clients can use the cash management features to originate ACH transactions, initiate wire transfers, or manage positive pay files from any computer with Internet access.

William Lidestri, senior vice president of retail banking at Windsor Federal Savings, said, "We converted to e-Commerce Banker because the functionality it offers combined with our core solution, INSIGHT, promotes operational efficiency, increases customer adoption and most importantly, provides a satisfying online banking experience for our customers. Today, two months after our conversion, I am pleased to say that e-Commerce Banker is exceeding our expectations, and our staff is excited about the capabilities offered by this online banking solution." Windsor Federal Savings purchased the e-Commerce Banker Consumer and Business suite, including check imaging and the online forms package.

Donna Irish, vice president of operations at Savings Institute, said, "The additional functionality that e-Commerce Banker will offer our business customers will be well received by everyone. We look forward to having this added service." Savings Institute selected the e-Commerce Banker business suite and check imaging.

PeoplesBank has selected e-Commerce Banker Consumer and Business and will take advantage of e-CB's check imaging, positive file transfer, deposit account origination, cross-customer transfer and dynamic messaging functionality.

"These new client relationships are the direct result of our hard work with our partner, Connecticut On-line Computer Center, Inc. (COCC), to provide state-of-the-art Internet banking and Web cash management offerings to the COCC client base," said Mike Nicastro, senior vice president of Open Solutions' Strategic Systems group.

e-Commerce Banker, a secure and scalable web banking solution, gives a financial institution's business and retail customers access to account information and transaction initiation 24 hours a day, seven days a week. The e-Commerce Banker(TM) product is designed to be integrated with COCC's core processing system, INSIGHT, to facilitate deployment of the new Web-banking features. INSIGHT is licensed from Open Solutions Inc.

About Open Solutions Inc.

Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications, built on a single centralized Oracle(R) relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, Check 21, interactive voice response and loan origination solutions. Open Solutions' full suite of products and services is designed to allow banks, thrifts and credit unions to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

For more information about Open Solutions, or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com, by phone at (860) 652.3153 or via fax at (860) 652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.

Open Solutions Inc. (R) is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright (C) 2004 Open Solutions Inc. All rights reserved.

Safe Harbor Statement

Statements made in this press release that state Open Solutions Inc.'s or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. All forward looking-statements are only as of the date of this press release and Open Solutions Inc. undertakes no obligation to update or revise them. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Open Solutions Inc.'s actual results to differ materially from those projected in such forward-looking statements. For example, we could lose existing clients and be unable to attract new business if we fail to adapt our products and services to changes in technology or in the marketplace. Likewise, the design of other core vendors' software or their use of financial incentives may make it difficult for clients to use our complementary products. Other factors which could cause our actual results to differ materially from those projected in forward-looking statements include, without limitation, economic, competitive, governmental and technological factors affecting the banking and credit union industry and/or Open Solutions Inc.'s operations, markets, products, services, prices, and other factors set forth under the heading "Factors Affecting Future Operating Results" in Open Solutions' Quarterly Report on Form 10-Q for the three months ended March 31, 2004, as filed with the Securities and Exchange Commission.

Contacts


Open Solutions Inc., Glastonbury
Carol Thor Guerra, 860/815-5401
cthor@opensolutions.com
or
Media Contact for OSI
Andrew McCaskill, 678/781-7210

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