UBmatrix™ Ships Report Builder v1.0 to Support European Banking Institution's COREP and FINREP Reporting Needs

First release of UBmatrix™ Report Builder shown to comply 100% with XBRL reporting requirements

Madrid, Spain May 16, 2006 - UBmatrix™, a leading provider of software and services leveraging the global XBRL standard, announced the general availability of its Report Builder application to aid European banks with the new XBRL-based COREP and FINREP reporting requirements.

Speaking on the capabilities of UBmatrix Report Builder, Mark Creemers, who is in charge of XBRL Taxonomy development at the National Bank of Belgium commented, "I am very pleased to say that the UBmatrix XBRL instance document [report] was the first to pass all our technical and conceptual checks for a 100% valid XBRL reporting of the Belgian scheme A."

UBmatrix™ Report Builder works seamlessly with Microsoft® Excel to generate an XBRL file for submission against XBRL taxonomies. Version 1.0 supports the International Financial Reporting Standards (IFRS) taxonomy and specifically the Schema A IFRS Consolidated Report template submitted by Belgian banks to the Banking, Finance, and Insurance Commission (CBFA). Bank compliance professionals simply complete the Schema A spreadsheet template and read it into Report Builder. Using the CBFA submission rules - built into their XBRL taxonomy - Report Builder validates the data for accuracy, and if it passes, produces the XBRL submission file. The convenient validation report clearly identifies any errors and prevent costly re-submissions to the banking commission.

What's more, UBmatrix™ Report Builder, which currently supports English, Dutch, and French language users, comes pre-integrated with UBmatrix xBReeze, the industry's only online platform dedicated to XBRL-based data exchange. Each time Report Builder is started, it checks with the xBReeze software service and notifies the user if there are updated reporting requirements from CBFA. Ensuring they remain 100% compliant, the user simply requests the updates from xBReeze and receives the new requirements and filing templates.

"UBmatrix has long been involved in building useful XBRL-based applications and we are excited to offer the first 100% compliant solution for Belgian banking institutions," remarked Sunir Kapoor, President and CEO of UBmatrix. "We worked closely with the National Bank of Belgium and CBFA to ensure UBmatrix™ Report Builder met their needs. We believe that banking institutions around Europe will discover that Report Builder is indeed the easiest to use solution for meeting the new XBRL-based reporting requirements."

As other European banking supervisors begin launching XBRL-based reporting systems, UBmatrix™ Report Builder will support them as well. For more information on Report Builder or UBmatrix™ xBReeze, please visit www.ubmatrix.com/xbreeze. An evaluation copy of UBmatrix™ Report Builder is available there for download.

About UBmatrix
UBmatrix, Inc. is the leading provider of XBRL-based information exchange solutions for global organizations and enterprises allowing them to more efficiently and effectively address the challenges of business and financial information management, exchange and reporting. XBRL is fast becoming the standard for financial information exchange and reporting demonstrated by the XBRL programs being driven by the SEC, FDIC and the European Central Banks. UBmatrix XBRL solutions increase operational efficiency and financial transparency, and ensure reporting accuracy and regulatory compliance. UBmatrix is based in Silicon Valley with development centers in Kirkland, WA, and New Delhi, India. For further information, visit www.ubmatrix.com

UBmatrix and xBReeze are trademarks of UBmatrix, Inc. US Patent No 6,947,947 B2 and other patents pending. Any third-party trademarks and patents are the property of their respective owners.