ADP Introduces Outsourcing for FX, MM, and Related Derivatives Trade Processing.

JERSEY CITY, N.J.--(BUSINESS WIRE)--Sept. 28, 1999--

ADP Brokerage Services Group, a division of Automatic Data Processing(R) (ADP) (NYSE: AUD), along with its subsidiary OMR Systems launched, at the SIBOS conference in Munich Germany, its newest financial services product -- Foreign Exchange (FX), Money Markets (MM), and Related Derivatives Outsourcing Solution. This important new offering will allow financial institutions worldwide to improve the quality of their service, and at the same time, to significantly reduce their costs. By paying for trades on a fixed per-ticket price, clients can now save more than 50% of the operating costs incurred through processing those trades in-house.

This ADP service will be supported from its New Jersey Data Center, which houses over 750 full-time professionals and maintains operations 24 hours a day, 7 days a week. The facility encompasses a $200 million industry standard-setting computing environment, unequaled in terms of capacity, performance, and disaster containment.

According to John Hogan, Co-President of ADP's Brokerage Services Group, "We continue to see a growing interest in outsourcing as a way for clients to stay focused on enhancing their core business." Hogan also noted that the key benefit of this new service to banks and brokerages worldwide is "the ability to take advantage of a large-scale operation from a stable and reliable partner. By outsourcing FX, MM, and Related Derivatives processing, financial institutions will now only incur a cost as they utilize the service -- one trade at a time."

This Outsourcing Solution will be based on OMR's Trading Assistant(R), a comprehensive and proven Straight-Through-Trade-Processing engine currently in use at 52 locations worldwide, including 10 of the world's 50 largest banks. The service provides fully automated Front-, Middle-, and Back-Office functions for FX, MM, and Related Derivatives trade processing. These functions will support trade entry, confirmation and settlement, limits checking, advice/payment processing, online positions and production of P&L reporting, cash flows, deal capture/limits, SWIFT Nostro management, management reporting, and risk management. Clients will have the option of accessing the software intraday to add, verify, and release trades, or to electronically transmit data on a real-time basis.

About ADP

As the premier provider of transaction processing services to the financial industry, ADP has the capacity and technological expertise to assist its clients in differentiating themselves in the marketplace. ADP Brokerage Services Group (ADP BSG) brings to financial intermediaries advanced, integrated solutions for securities processing, desktop productivity and investor communication services, all backed by Year 2000 readiness and world class customer service. ADP continually uses technological advancements to develop innovative products that meet the long-term business needs of its clients. As a leading outsourcing vendor, ADP BSG is leveraging its position to provide competitive, cost-effective services to its clients worldwide. Automatic Data Processing, Inc., with over $5 billion in annual revenues and more than 450,000 clients, is one of the largest independent computing services firms in the world. For more information about ADP BSG, please visit our web site at www.bsg.adp.com.