June 8, 2004 FOR IMMEDIATE RELEASE Open Solutions Inc. Announces Exercise of Underwriters’ Overallotment Option GLASTONBURY, Conn. June 8, 2004 -- Open Solutions Inc. (NASDAQ: OPEN), a provider of software and services for financial institutions, today announced that the underwriters of its recent follow-on public offering exercised their over-allotment option to purchase 665,466 shares of common stock from Open Solutions. The 665,466 shares were purchased pursuant to the over-allotment option at the public offering price of $21.50 per share, less an underwriting discount of $1.075 per share. As previously announced, Open Solutions intends to use the net proceeds from the offering for working capital and general corporate purposes, including potential acquisitions. Bear, Stearns & Co. Inc., Friedman, Billings, Ramsey & Co., Inc., Piper Jaffray & Co. and Wachovia Capital Markets, LLC acted as managing underwriters for the offering. Copies of the final prospectus relating to this offering may be obtained from Bear, Stearns & Co. Inc., c/o Prospectus Department, 382 Madison Avenue, New York, NY 10179. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Open Solutions Inc. Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications, built on a single centralized Oracle(R) relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, interactive voice response, imaging and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts and credit unions to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service. For more information about Open Solutions, or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com, by phone at 860.652.3153 or via fax at 860.652.3156. For Investor Relations issues please contact David Henderson by email at ir@opensolutions.com or by phone at 860.652.3155. Visit Open Solutions' Internet site at www.opensolutions.com. Open Solutions Inc.(R) is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners.