Mumbai May, 2008: FinEng Solutions announced today that DBS Cholamandalam Distribution Limited (DCDL) has selected Telesto as their wealth management solution for their high net worth (HNI) and retail customers.

Telesto is a leading suite of products that spans the wealth management lifecycle, and is tailored for the use of relationship and wealth managers of private banks. The product is proven, scalable, and provides the technology that allows firms to increase their level of customer service, reduce costs and enhance revenue.

Telesto’s customers have been private banks in the past. This implementation helps Telesto diversify its customer base to include non-banking finance companies.

Unmesh Nadkarni, Business head for Telesto, said, “With Telesto DCDL will now be in a position to integrate different products on a single platform for their wealth management team and also manage increasing volumes by leveraging on their branch network across the country.”

About FinEng

FinEng is a software company developing and supporting products for the financial services industry. They have expertise in institutional funds management, wealth management and credit risk analysis. FinEng has 2 offices located in Mumbai and Chennai and has a global clientele.

About DBS Cholamandalam Distribution Limited

(DCDL) DBS Cholamandalam Distribution Limited (DCDL) is in the business of distribution of a wide array of financial services products - both in-house and third party - to high-net worth and retail clients. Products offered include mutual funds, fixed income, share trading, savings instruments, capital bonds, IT/PAN processing services, equity IPOs and life and general insurance. The company combines reach in over 22 cities with richness of its investment advisory services. Established in 2000, the company already mobilizes over INR25 billion of investments in a year.

For further information please contact media@fineng.com