Press Release

Data-Rite Systems Group, Inc. Releases SHO-Time - Automate Filing of Form SH

NEW YORK, Feb. 11 /PRNewswire/ -- Data-Rite Systems Group, Inc. releases SHO-Time, an application for funds who engage in short selling. It is a practical solution essential to effective management and use of resources to remain in compliance with a recent requirement by the Securities and Exchange Commission (SEC).

On October 15, 2008, the SEC required certain funds to file Form SH. It is a costly and taxing process. Based on SEC calculations, it bears an estimated internal cost of $3500 per filing and $90,000 retainer's fee for legal and filing costs.

The biggest and most tedious task is reviewing the list of section 13(f) securities and comparing it against the funds' daily trade blotter. Currently, the SEC does not provide this list in any format other than PDF, which makes it virtually impossible to expedite the process by developing an Excel macro or other simple automation process.

The SHO-Time application drastically reduces the weekly filing time from 10-15 manual hours to minutes. Automating the process frees valuable staff time so that they can focus on what they do best: investing.

SHO-Time's software engine consists of a number of processes:

1. SEC list generation 2. Shares Outstanding calculation 3. Trade data review and filtering based on SEC requirements 4. EDGAR-friendly report generation

SHO-Time has a SQL Server 2005 backend database and a web-based GUI written with C#/ASP.NET. It uses SQL Server Integration Services to retrieve external data, and integrates with Bloomberg via an API.

Founded in 1995, Data-Rite Systems Group, Inc. is a software consulting firm resolute in delivering the highest quality software solutions. For more information on this valuable product and our services, contact Mike Feldman at 212-697-0207 ext. 201.