WALTHAM, Massachusetts, December 2 /PRNewswire/ --

- '2008 Credit Technology Innovation Awards' Recognize Leading Developments in the Use of Technology for the Buy- and Sell-Side in the Global Credit Markets during 2008

Lewtan Technologies, Inc., provider of asset-backed securities surveillance data, analytics, software, and content for the global securitisation industry, today announced that it has won the Technology Innovation Award bestowed by Credit magazine. The Technology Innovation Award recognizes Lewtan's innovation in financial markets technology and continues to solidify its leadership position in the global market.

The award submission featured Lewtan's collaboration with Thomson Reuters to customize Lewtan's ABSNet(TM) cashflow application programming interface (API), credit surveillance data, and Thomson Reuter's proprietary heuristics to develop evaluated prices for asset-backed bonds. Structured finance securities continue to be illiquid, requiring Level 2 and Level 3 prices for the majority of bonds as dictated by FAS 157. Lewtan's ABSNet data allows for the aggregation of thousands of asset-backed securities into similar groupings for price discovery. The asset-backed securities are priced using the library of cashflow models in ABSNet incorporating current performance data and risk spreads. The system generates evaluated prices on a daily basis and it also allows users to incorporate proprietary assumptions. The innovation can be extended to enable investment firms to assess their own marks for the securities in their portfolio against a third-party assessment.

Careful use of these adjustment mechanisms enables the user to control how prices are calculated based on a certain understanding of the securitisation market and macroeconomic conditions. The system employs quality checks that alert the user of collateral changes, credit changes and spread adjustments. This allows the user to make informed decisions about risk.

We based our decision to give Lewtan a Credit Technology Innovation Award on the timeliness of its innovation achievement and the strong endorsement from Thomson Reuters, said Matthew Attwood, editor Credit. We considered the innovation submitted was appropriate to market conditions, and a demonstration of how opportunities to excel exist even during these challenging times.

We're honored that Credit has recognized Lewtan's technology innovation, said Ned Myers, CMO of Lewtan. Collaborating with Thomson Reuters to develop a useful application of our tools and data for their pricing service customers is a testament to both firms' deep understanding of structured finance and commitment to the industry during these most challenging times in the market.

About Credit Magazine

Credit serves the needs of a global community of buy- and sell-side credit professionals. Covering the entire credit market - from vanilla corporate bonds to the most exotic credit in the market: including regular features on credit derivatives, structured credit, loans and convertibles. Credit magazine aims to be the forum that brings together bondholders, borrowers, banks and investors to discuss and debate the key issues of the market.

Credit magazine was established in 2000, and US Credit in 2003. They were merged into the global Credit magazine in 2005 to create a global magazine with a global perspective on a global market of buy-side and sell-side credit markets professionals.

About Lewtan Technologies

Through offices in North America and Europe, Lewtan Technologies, Inc., offers a wide range of content- and technology-based solutions to members of the global asset-securitisation industry, including issuers, investors, underwriters, servicers, credit enhancers, and rating agencies representing more than 400 institutions worldwide. The company has twice been named Global Technology Provider of the Year by International Securitisation Report, and it received the Innovation Award and commendations for client service and best-in-class surveillance tool in Money Market's 2007 Securitisation Review Survey Technology Awards. More information is available at www.lewtan.com.

Lillian Flores of Lewtan Technologies, Inc., +1-781-672-1175, Lillian.Flores@Lewtan.com