Kalahari Chosen for Rafferty Capitals New US$ Derivatives Desk

Kalahari, a global provider of real-time price discovery and analytic solutions to financial and energy trading institutions in over 16 countries, today announced the deployment of their US$ derivatives pricing application on Rafferty Capital Markets new US$ Medium Term IRS desk in Garden City, New York.

(PRWEB) August 3, 2005 -- Kalahari, a global provider of real-time price discovery and analytic solutions to financial and energy trading institutions in over 16 countries, today announced the deployment of their US$ derivatives pricing application on Rafferty Capital Markets new US$ Medium Term IRS desk in Garden City, New York.

The desk, which began operations on 6th June 2005, also provides a seamless link to Raffertys Government Bond desk.

Kalaharis model calculates US$ IRS out to 50-years using a spread over the benchmark bonds and provides multiple bond hedges for each tenor. The application also calculates OIS, Butterfly Spreads and FRAs and displays the differences, hedges and arbitrage opportunities between those instruments.

Commenting on the successful implementation of the model, Ray Pitts, Managing Director, Interest Rate Swaps, Rafferty Capital Markets LLC, said: Starting a new business and being successful means staying focused on the task at hand. We chose Kalahari as much for the accuracy and reliability of their pricing applications as for their understanding of our business. They allow us to concentrate on what is important to us -- looking after our customers."

Nigel Weston, Director -- Americas, Kalahari Ltd. said: Were very pleased to be a part of Raffertys new venture and look forward to working closely with them as their business grows. Our US$ model, as with all our applications, demonstrates our commitment to provide a service of real and lasting value to our clients.

Notes to Editors:
Rafferty Capital Markets LLC
Rafferty Capital Markets, LLC (RCM) offers institutional brokerage services in a variety of products.
Initially, the focus was on U.S. Treasury & Agency debt. In early 2004, RCM acquired the municipal bond business of J.J. Kenny Drake from Standard & Poors. J.J. Kenny has long been considered one of the premier brokerage houses in the municipal market.
In an effort to expand its trading and brokerage operations, RCM added corporate bond brokerage and equity trading to the group.
Additionally, RCM offers Mutual Fund Distributor services to several mutual fund families.
Rafferty Capital is an affiliate of Rafferty Holdings, LLC. Other affiliates include Rafferty Asset Management & Potomac Funds and Hilton Capital Management.
About Kalahari
Kalahari is a global provider of real-time price discovery and analytic solutions to financial and energy institutions. For over 15 years, Kalahari has been delivering desktop analytics to trading rooms around the world. The company uses the common infrastructure of its market-leading kACE solution to build bespoke desktop applications to support traders in different market sectors. In addition, kACE provides the openness clients need to enhance functionality to meet future requirements.

Kalahari has offices in the UK and USA and enhances its market coverage through a number of strategic alliances, including: Telerate, FINCAD and BlueStar Infotec. Additional information about Kalahari is available at www.kalahari.co.uk.

Forward-Looking Statements:
This press release contains forward-looking statements relating to results of operations; product features and benefits; market penetration and market strategies. Such statements are made based on management's beliefs as well as assumptions made by, and information currently available to, management, pursuant to "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. While these statements reflect our best judgement, they are subject to risks and uncertainties that could cause a change in focus and direction.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Rafferty Capital Markets, LLC
Tel: 516-877-5300
Fax: 516-742-6935

Kalahari Ltd.
Tina Snelling
Public Relations Manager
Tel: +44 (0)1483 756246

# # #