London, 25^th February, 2010 – WealthCraft Systems Ltd, a leading Hong Kong-based financial services technology provider has connected to Calastone to enable its Pension Administration Service (PAS) to benefit from connectivity to the international mutual fund industry.  Wealthcraft’s PAS enables pension administrators to submit orders across the WealthCraft platform and connectivity to Calastone will enable Hong Kong-based PAS clients to connect from Asia to European domiciled funds throughout the United Kingdom, Luxembourg and Dublin using Calastone ISO 20022.

Connectivity to the Calastone community is through a single connection, orders are sent electronically via Calastone, which provides a universal message communication and ‘translation’ service.   By connecting to Calastone, WealthCraft has recognised the opportunities that Calastone provides to the global mutual fund industry and can benefit immediately by being able to process transactions received in ISO 20022 message standards. Calastone’s ‘translation’ service converts any message format to Calastone ISO 20022 enabling participants to communicate and take advantage of the global standard today, even if a different counterparty uses another messaging protocol or communication method.

Since launch in 2008, Calastone has been connecting domestic and international fund providers, distributors and transfer agents to help them improve their business processes, enjoying greater transparency, control and real time visibility throughout the lifecycle of their transactions. 

Commenting on the announcement, Kevin Lee, Managing Director of Calastone said, “I am delighted that WealthCraft has joined our growing Asian funds community.  The additional Asia order flow expands the existing flow already available throughout Europe, North and South America and extends the distribution capacity for all participants; fund managers, distributors, transfer agents, wrap platforms, wealth managers, stockbrokers, hedge funds and pension funds.  Our automated approach to transacting mutual funds removes the need for processing orders using fax.  Calastone’s track record since launch has shown that automation of order processing delivers increased order flow control and helps participants to reduce operating risk and lower costs.  We are totally committed to providing 100% STP and industry interoperability regardless of location, size or message protocol preference.“

Kelly J. Tallas, CEO of WealthCraft Systems Limited added, “Calastone’s automated approach to mutual fund trading essentially levels the playing field for distribution to and from the Asian market in a highly efficient, cost effective way regardless of location or technology preference. The connection with FundsMX™, WealthCraft’s SWIFTNet enabled automated funds distribution platform, gives our clients immediate access to the wide and growing range of European domiciled funds available through Calastone.  The Calastone service also provides an enhancement to our fully-automated Pension Administration Service (PAS) which facilitates trading, reduces risk and provides greater choice for all participants.  We look forward to our continued relationship with the Calastone team and removing the need for fax order handling from the funds industry.”

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For further information contact: 

For Calastone

Julia Streets/Holly Finn

Streets Consulting Ltd on behalf of Calastone Ltd

Julia.streets@streetsconsulting.com / holly.finn@streetsconsulting.com

Tel: + 44 (0)20 7959 2235

For WealthCraft Systems Inc

Barry Russell

barry.russell@wealthcraft.com

Tel: +852 3586 8246

Notes to editors:

About Calastone – the independent cross-border transaction network for the mutual fund industry.

Calastone was established in March 2007 by three joint-founders, Kevin Lee (Managing Director), Ian Taylor (Chief Operating Officer) and Campbell Brierley (Chief Technology Officer). From industry experience they recognised that, unlike the institutional market, communications in the mutual fund industry between the fund providers, distributors and their transfer agents was nothing short of archaic. Messaging is still conducted by phone, fax, email, and excel spreadsheet; and the industry has been lacking a transaction network capable of handling and interpreting instructions. 

Calastone presents, for the first time, the opportunity for the whole mutual fund market to become fully electronic. The magic of the Calastone Transaction Network (CTN) is that participants are able to send/receive instructions in any way they prefer whatever their messaging protocol. Also, for the first time, participants can track their trades and manage exceptions on a real-time electronic basis throughout the transaction lifecycle. Real-time tracking through Calastone’s execution management system helps firms reduce not only their costs but also operating risks.

WealthCraft Systems Inc

WealthCraft Systems Inc. (WCSY.PK) headquartered in Hong Kong SAR, is the parent company of WealthCraft Systems Ltd, an information technology company that designs, develops, markets and supports a flexible, scalable and secure technology platform for wealth management services to financial institutions, including investment advisory firms, securities brokerage firms, retail and private banks, mutual fund companies and insurance companies.

WealthCraft's products facilitate seamless implementation of the industry standard SWIFTNet Funds solution for automated mutual fund transactions. The Company’s Pensions Administration Service (PAS) provides companies with a cost effective and fully automated pension solution that eliminates errors, enhances HR programs and delivers exceptional levels of member services.

All product and company names herein may be trademarks of their respective owners.

This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on WealthCraft management’s current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to WealthCraft as of the date of the press release, and it assumes no obligation to update or alter its forward- looking statements whether as a result of new information, future events or otherwise. Further information on risks or other factors that could affect WealthCraft's results of operations are detailed in the filings of WealthCraft with the SEC.