BURLINGTON, MA, March 24, 2003—Cognos (NASDAQ: COGN; TSX: CSN), the world leader in business intelligence (BI) and performance management, today announced that EquiFirst Corporation has purchased Cognos Series 7. The agreement, which includes Cognos Visualizer and Cognos NoticeCast, was a competitive win over Business Objects and Crystal. With Cognos, EquiFirst Corporation will be able to more effectively assess and track market and credit risk, as well as better measure profitability and growth.

EquiFirst, a wholly owned subsidiary of the Regions Financial Corporation and one of the premier non-conforming wholesale mortgage lenders in the United States, offers a wide range of mortgage products to independent mortgage brokers.

"With Cognos, executives leaders at EquiFirst will have a dashboard view to monitor and manage corporate performance at the highest level, with the ability to drill down into the transactional data stored in our data warehouse," said Beth Tobin, director of information technology at EquiFirst Corporation. "Through increased visibility with our brokers and processes we are able to identify cost-saving opportunities, improve services, and ultimately strengthen our ability to compete in a very competitive marketplace."

"Cognos BI is key to helping financial services companies improve their ability to effectively manage risk and gain an in-depth view of performance management across all business channels," said Leo Tucker, banking industry marketing director, Cognos. "Cognos Series 7 offers the most comprehensive BI solution — tailored for the financial services industry — which will allow EquiFirst to better manage corporate performance and achieve competitive advantage."

About EquiFirst:
EquiFirst is a premier non-conforming lender. Recognized as an innovative provider of non-conforming mortgage products to independent mortgage brokers, their unique products and commitment to customer service have placed them a step above the traditional wholesale lender. Headquartered in Charlotte, N.C., EquiFirst employs more than 500 people, including more than 180 account executives that maintain relationships with more than 4,000 approved mortgage brokers. All of loan production volume originates through relationships with independent mortgage brokers. Founded in 1989, EquiFirst continues to expand and is currently licensed inthan 48 states, with local account executives in over 80 markets. As a wholly owned subsidiary of Regions Financial Corp., EquiFirst enjoys a stable and inventive partner in business. With $47.4 billion in assets, Regions ranks among the 25 largest financial services companies in the nation. Serving customers throughout the South, it provides traditional, commercial, and retail banking services and other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance, leasing, and mortgage banking. Its common stock is listed on the New York Stock Exchange (NYSE) under the ticker symbol RF.