Berkshire Bank Selects Open Solutions' Core Processing Suite; Open So

    Business Editors

    GLASTONBURY, Conn.--(BUSINESS WIRE)--Jan. 6, 2005--Berkshire Bank, the largest community financial institution in Western Massachusetts, has selected Open Solutions Inc.(R)'s (NASDAQ:OPEN) The Complete Banking Solution(R) (TCBS), a relational core data processing platform for banks, to address its enterprise wide data processing needs. With $1.3 billion in assets and more than 91,000 accounts, the bank chose to migrate to the Open Solutions technology after its incumbent data processor, EastPoint Technologies, was acquired by Open Solutions. Berkshire management viewed Open Solutions' technology as a flexible and comprehensive tool to exploit the bank's competitive advantage in its ever broadening marketplace.
    "Open Solutions made the choice easy for us," said Berkshire Bank SVP of Operations Gayle Fawcett. "As with all EastPoint client institutions, we had the option to stay on the current platform, but with The Complete Banking Solution, Open Solutions offered a clear migration path to the technology platform that we envisioned for the future. Berkshire Bank continues to grow. We recently announced a deal to purchase Woronoco Savings Bank and to open a second full service branch in New York State. Having an open architecture core data processing solution with real-time integration via each of our delivery channels is integral to that growth strategy. We believe that Open Solutions' depth of platform and wide array of solutions dovetails with our ongoing strategy."
    In addition to the TCBS core data processing platform, Berkshire Bank also selected Open Solutions' Asset/Liability Management and Financial Planning products, as well as the Accounts Payable and General Ledger suite, Interactive Voice Response, Safe Deposit Box and the cView(TM) (CRM/business intelligence) applications.
    Fawcett added, "Open Solutions' relational system design is incredibly powerful and when combined with the high caliber of the complementary delivery systems available, Open Solutions provided even more compelling reasons to migrate. For example, the cView offering will serve to boost our bank's ability to become even more entrenched in our customer relationships, as well as assist us to effectively meet the specific needs of our customers and therefore serve them even better. In addition, the Open Solutions voice response solution was head and shoulders above any competitive product we have seen."
    Open Solutions uses relational database technology and has designed a solution that helps financial institutions improve customer relations. Open Solutions' comprehensive suite of products and services was developed to enable financial institutions to retrieve detailed customer information and gain a complete picture of each customer and the relationships they have with the institution. Moreover, Berkshire Bank's customers will benefit from seeing one up-to-the-minute balance, whether they access account information via the Web, ATM, telephone or a branch teller. Open Solutions' ability to integrate retail delivery, real-time transactional processing and Customer Relationship Management (CRM) were key points in Berkshire's decision to migrate to TCBS.
    "Like many institutions, we want to reroute customers from our lobbies to more cost effective electronic alternatives while maintaining a high level of service, accuracy and consumer confidence," Fawcett said. "Open Solutions has what we believe is the best retail delivery option for that strategy. Technology and a keen customer focus are the cornerstones of our growth initiatives. Open Solutions enables us to bolster our current options in both categories."
    Senior Vice President and General Manager of Open Solutions' Banking Group Jim Kern said, "Berkshire Bank is one of the premier financial institutions in New England. By joining the TCBS family of client institutions, Berkshire has recognized our commitment to ongoing research and the development of technology tools focused on the community financial institution marketplace. As the bank plans to expand its current footprint from Berkshire and Oneida counties, they can rest assured that Open Solutions will be the technology partner that will support them in their expansion by providing the scalable solutions needed to support their growth."
    Louis Hernandez, Jr., Open Solutions Chairman and CEO, said, "We are very proud Berkshire Bank selected The Complete Banking Solution as the core data processing platform that will take them into the future. Their decision is a testament to the flexibility of Open Solutions' product line to best meet the needs of Berkshire's customers and employees. Our goal is to continually build and deploy technology and solutions that optimize the institutions' infrastructure so management and personnel can cross-sell and serve their customers more effectively and more efficiently."

    About Berkshire Bank

    Founded in 1846, Berkshire Bank is one of Massachusetts' oldest and largest independent banks and the largest banking institution based in Western Massachusetts. Berkshire Bank is headquartered in Pittsfield, Massachusetts and maintains a network of full service offices serving communities throughout Berkshire County. Berkshire Bank is committed to operating as an independent bank, delivering exceptional customer service and offering a broad array of competitively priced business and consumer banking products and services.
    Berkshire Hills, Bankcorp, Inc. is the holding company for Berkshire Bank. Berkshire Hills Bancorp, Inc. is publicly traded on the American Stock Exchange (AMEX) under the symbol "BHL."
    The mission of Berkshire Bank is to be an independent, full-service community bank committed to being the "financial institution of choice" for people and businesses in Berkshire County and neighboring communities. It will achieve this position of competitive leadership by consistently meeting and exceeding the expectations of its customers in the delivery of quality financial services and products. The bank values and respects its customers and employees and strives to maintain an environment within which customers want to bank and employees will want to work.

    About Open Solutions Inc.

    Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications, built on a single centralized Oracle(R) relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, Check 21, interactive voice response, payment and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts and credit unions in the United States and Canada to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
    For more information about Open Solutions, or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com, by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.
    Open Solutions Inc.(R) and The Complete Banking Solution(R) are registered trademarks of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright (C) 2005 Open Solutions Inc. All rights reserved.

    Safe Harbor Statement

    Statements made in this press release that state Open Solutions Inc.'s or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. All forward looking-statements are only as of the date of this press release and Open Solutions Inc. undertakes no obligation to update or revise them. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Open Solutions Inc.'s actual results to differ materially from those projected in such forward-looking statements. Factors which could cause our actual results to differ materially from those projected in forward-looking statements include, without limitation, economic, competitive, governmental and technological factors affecting the banking and credit union industry and/or Open Solutions Inc.'s operations, markets, products, services, prices and other factors set forth under the heading "Factors Affecting Future Operating Results" in Open Solutions' Quarterly Report on Form 10-Q for the three months ended September 30, 2004, as filed with the Securities and Exchange Commission.

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CONTACT: Open Solutions Inc., Glastonbury Marvin (Mickey) Goldwasser, 860/652-3153 mgoldwasser@opensolutions.com or Media Contact for Open Solutions Inc. Andrew McCaskill, 678/781-7210

KEYWORD: CONNECTICUT MASSACHUSETTS INDUSTRY KEYWORD: HARDWARE GOVERNMENT TELECOMMUNICATIONS NETWORKING UTILITIES MARKETING AGREEMENTS SOURCE: Open Solutions Inc.

Copyright Business Wire 2005