SYDNEY, AUSTRALIA--(Marketwire - January 26, 2009) - Navigator Project Finance Pty Ltd today announced the launch of its spin-off company, Corality Pty Ltd. The new management of Navigator and Corality anticipates the spin-off to result in a quantum shift of delivery of financial model audit services.

Navigator's model audit division has experienced a vast activity increase since the start of the global credit crisis. This is due to stronger global requirements for financial scrutiny, and significantly more risk-averse debt and equity markets. To account for the increased demand and wider client base, Navigator has spun-off its Financial Model Audit and Excel Consulting Division into a new independent company called Corality Pty Ltd. Rickard Wärnelid is the new Managing Director of Corality.

Navigator's financial modelling division remains dedicated to the project finance sector. "Today's announcement demonstrates our commitment to the project finance market, while still offering clients a solution for financial model audits in other sectors," said Nick Crawley, Managing Director of Navigator. "We aim to position Corality as the first choice for institutional investors, lenders and corporate management seeking increased assurance in financial models. Corality incorporates technical knowledge, strict processes, transaction experience and a pro-active consultative approach," Nick explained.

Management of both Navigator (www.navigatorPF.com) and Corality (www.corality.com) anticipates that the spin-off will result in a quantum shift of financial model audit services. The financial model audit sector is often criticised by market participants questioning the place of accounting firms in the highly-specialised structured finance transaction space. "We want Corality to be a specialised model audit solution for CFOs and bankers worldwide," said Rickard Wärnelid, newly appointed Managing Director of Corality. "We understand the importance of strict procedures, cost control and time pressure in competitive bids, and work pro-actively with each client to give superior service compared with the established competition," Rickard advised.

Corality is currently recruiting more experienced financial model auditors for key positions.

Web links
www.navigatorPF.com
www.corality.com

Media Information
Press release and Q&A
http://www.navigatorpf.com/news

Navigator Project Finance

Founded in 2004, Navigator Project Finance Pty Ltd is an expert in project finance modelling services. Navigator builds financial models for complex project financings, offers training courses in the Middle East, Asia and Europe, and conducts independent model reviews of project finance transaction models.