Open Solutions Prices DebtOffering

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GLASTONBURG, Ct. - (01/31/05) -- Open Solutions Inc. said last weekit priced an offering of as much as $145 million of seniorsubordinated notes due 2035, which will be sold to investors thisweek. The notes will be convertible, under certain circumstances,into Open Solutions common stock, at an initial conversion rate of18.4 shares per $1,000 principal amount at maturity. The notes willbear cash interest at a rate of 2.75% a year until 2012, after thenoriginal issue discount will accrues at a rate of 2.75% a year.Open Solutions will sell $125.4 million of the notes initially, buthas granted initial purchasers a 30-day option to purchase up to$18.7 million more. Proceeds from the offering will be used forgeneral corporate purposes, including financing of potentialacquisitions.

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