Treasury Strategies Study Results Question European Readiness for SEPA

Treasury Strategies, Inc. has released the results of its 2007
European Corporate Treasury Research Program.

"This year's results show treasury departments in Europe are
looking to add value by enhancing liquidity, globalizing controls, and
adopting straight-through processing efficiency across the
enterprise," said Stephen Baird, Principal with Treasury Strategies
and leader of the research program.

While the survey results reflect continuous improvement in
treasury operations within Europe, there is also evidence that many
companies may not be adequately prepared for the advent of SEPA and
other key industry changes. "The low level of interest or familiarity
among many European companies with key industry initiatives -
particularly SEPA and SWIFTNet - raises the question of whether banks
are adequately focused on getting their clients ready for these
changes," said Baird.

Are Treasurers and their financial service providers moving
quickly enough to ready themselves for the coming transformation of
global treasury? Some key findings suggest this is an open question.

-- Nearly 60% of European companies do not consider SEPA a high
priority.

-- Less than 30% of companies are interested in key banking
industry initiatives such as direct SWIFT connectivity,
globalization of messaging standards, and continuous linked
settlement.

-- Over 60% of European liquidity resides in low or non-interest
bearing overnight instruments.

If caught unprepared for SEPA, a Treasury department could find
itself unable to efficiently execute payments and incur higher bank
fees. The potential risk is significant for all parties involved.

The European Treasury Research Program examines how companies
manage their Treasury organizations, including staffing and
organization, current issues and initiatives, banking practices, and
treasury technology usage. Now in its second year, this research is
recognized for its excellence in identifying key trends and issues, as
well as establishing meaningful Treasury benchmarks.

Some details about this year's program:

-- 511 companies participated, representing a broad range of
revenue segments and industry sectors.

-- Respondents are located across Western Europe (Benelux,
France, Germany, Italy, Nordic countries, Spain, Switzerland,
and the United Kingdom).

-- 93% of the respondent companies are headquartered in Europe.

Founded in 1982, Treasury Strategies, Inc. is a client-focused,
management consulting firm serving corporations, financial
institutions, and securities firms. As a thought leader in treasury,
liquidity, payments and working capital management, we develop
customized and actionable solutions unparalleled in the marketplace.
For more information please visit www.TreasuryStrategies.com.