Sweden’s Largest Oil Company to Implement the Allegro 8 Platform

ZURICH, Switzerland, August 25, 2010 – Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) systems, announced today that Preem AB will implement the Allegro 8 platform to manage its oil supply, trading, refining, logistics, sales, and marketing operations.  Allegro’s single, integrated solution will give Preem visibility and control around their extensive crude oil refining and trading business.

As Sweden’s largest oil company and one of the country’s biggest exporters, Preem has a refining capacity of more than 18 million tons of crude yearly and supplies gasoline, diesel and fuel oils to companies in Sweden and internationally.  Preem currently operates two refineries, six operations depots, 470 gas stations for private individuals, and 215 gas stations for heavy goods vehicles.  Preem required a single, flexible platform that could easily integrate external and internal data sources as well as replace their existing disparate applications.

“The Allegro 8 architecture was a key factor in our selection of Allegro,” said Catarina Lotse, Senior Advisor, Preem Supply & Trading. “We required a fully integrated front-to-back office solution that would ensure business efficiency and enable the flow of accurate information across our enterprise.”

The Allegro 8 software will handle Preem’s physical and financial crude oil and products trading, operations, and invoicing processes, providing:

• Ability to efficiently monitor and manage refinery production, physical storage volumes, scheduling, and cargo transportation
• Risk management with visibility into Profit & Loss, position calculations, Value at Risk (VaR), and cash flow forecasting
• Full auditability to enable regulatory compliance, including Sarbanes-Oxley and hedge accounting
• Real-time price data management with feeds from multiple pricing vendors, including Platts, integrated directly into the Allegro platform
• Improved credit risk control by integrating all counterparty credit exposure

About Allegro Development

Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 27 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities.  Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney, and Zurich, along with a global network of partners.

For further information please contact Christie Lindstrom at media@allegrodev.com or +1.214.237.8117.