April 1, 2008 - Reliance Money of India Partners with Canada's Recognia to offer Technical Analysis to Retail Customers

April 1, 2008, Ottawa, Canada and New Delhi, India: One of India's leading and fastest growing private sector financial services companies has become the first financial services firm in that country to launch a partnership with Canada's Recognia Inc. and as a result is now offering Recognia's technical analysis to its customers.

In a press conference held today in New Delhi, Reliance Money, the financial distribution company of the Reliance Anil Dhirubhai Ambani Group, announced it has launched Recognia's simplified and sophisticated Automated Technical Analysis on its retail customer platform.

Recognia Inc. of Ottawa, are leaders in chart pattern recognition and price forecasting through technology that analyzes the price action of stocks of all publicly traded companies and indicates new investment opportunities.

The partnership was announced by Mr. Sudip Bandyopadhyay, Director and CEO, Reliance Money and Mr. Rick Escher, President and CEO of Recognia at a conference here today.

"Technical analysis, to this date, is a privilege available to institutions and HNIs and the Indian retail investors have been deprived of these tools so far. The addition of Recognia's sophisticated Automated Technical Analysis as an add-on feature on our platform will provide automated simplified analysis that will inform the customer about shifts in trends of different stocks in the Indian markets" said Mr. Bandyopadhyay.

"Our automation and simplification of technical analysis is a good match for Reliance Money's commitment to offer quantitative tools to Indian investors participating in the stock market. Our daily analysis on over 55,000 instruments from 39 exchanges is helping millions of people in North America and Europe and we are excited to be working with Reliance Money to make it available to the investors and traders in India," said Mr. Escher.

Recognia's Research is updated throughout every trading day - providing independent and objective notification of shifts in trends and changes in supply and demand that are otherwise not easily visible. When certain movements of the stock prices occur, Recognia distributes notices that help recipients identify profitable trades and make timely transactions.

Automated email notification will be sent to Reliance Money users based on personalized criteria, such as opportunity type, the price range or type of pattern desired.  Subscribers will have the added benefit of receiving the daily 'Top Bullish and Bearish Opportunities' sent directly to them.

The technical services are available for a free introductory trial period to Reliance Money users. Past the trial period, this service is available to users at a nominal subscription rate. 

About Recognia Inc.
www.recognia.com

Established in 2000, Recognia's proprietary pattern recognition technology is capable of recognizing patterns in the price charts of any publicly traded financial instrument including stocks, bonds, funds, commodities, currencies and indexes. These chart patterns are known to indicate trading opportunities.   This ability has not previously been available and was a task that previously had to be performed manually, making it humanly impossible to monitor all stocks and all commodities on a continual basis. The Recognia system currently scans over 55,000 charts per day and this number is continually increasing as additional exchanges are added.

Recognia generates content in-house and licenses it to financial portals, online brokerages and other financial institutions.  Some of its clients include Bloomberg, Thomson Financial, HSBC and TD Waterhouse, among others.  Recognia products include quantitative data feeds, white-label Internet applications, email alerts, news wire feeds, and white-label market letters.

About Reliance Money
www.reliancemoney.com

Reliance Money is a comprehensive financial services and solution provider. Its endeavour is to change the way India transacts in financial markets and avails financial services. Reliance Money provides a single window, enabling customers to access, amongst others, Equity & Commodity Derivatives, Mutual Funds, IPOs, Life and General Insurance Products, Offshore Investments, Money Transfer, Money Changing, Gold Coins and Credit Cards.

Reliance Money is a group company of Reliance Capital - one of India's leading and fastest growing private sector financial services companies, ranking among the top 3 private sector financial services and banking companies in terms of net worth.  Reliance Capital is a part of the Reliance - Anil Dhirubhai Ambani Group.

For Media Queries and Details:

Ottawa
Recognia
Shaun Markey
shaunmarkey@rogers.com
613-728-9951

Reliance Money
Sharad Goel 
sharad.goel@relianceada.com

Delhi
Sanjiv Kumar
sanjiv.k.sinha@relianceada.com 
+91-9312456677

Mumbai
Tamanna Khanna
tamanna.khanna@relianceada.com
+91-9323609510