ADP Names Brian Kape as Vice President of ADP's BPS Sales Group.

JERSEY CITY, NJ--(BUSINESS WIRE)--October 28, 1998--ADP Brokerage Services Group, (ADP BSG) today announced that Brian A. Kape has joined ADPs Brokerage Processing Services division as a Vice President with specific sales responsibility for ADP's Correspondent Clearing Program. This program provides broker dealers with consultative support services to facilitate the matching of a broker dealer to an ADP clearing firm.

A large number of ADP clients are in the correspondent clearing business, including the industry's most prominent clearing firms. "We recognize that correspondent clearing is a major segment of our clients' business and thus it is a significant component of our strategic initiatives," stated Donald Totter, Senior Vice President for ADP Brokerage Accounts. "Brian's extensive knowledge and experience in all phases of trade execution and back office clearing functions coupled with his strong sales and managerial skills, will make him an extremely valuable addition to ADP and our clients," continued ADP's Totter.

ADP clearing clients can take advantage of the breadth and depth of ADPs subsystems to serve their customers on a global basis and to expand their traditional markets thus further differentiating themselves in this very competitive marketplace. "Our Correspondent Clearing Program is backed by an ongoing commitment to provide our clients with world class levels of customer service," stated John Hogan, co-president ADP Brokerage Services Group. "We are now backing that commitment with Brian's impressive 15-year track record, proving his ability to develop, manage, and market financial services and products," concluded ADP's Hogan.

Prior to ADP BSG, Mr. Kape was Chief Operating Officer of FarSight Financial, an Internet-based broker/dealer owned by D.E. Shaw & Company. He was also Managing Director at National Discount Brokers (NDB) where he was responsible for overseeing Trading, Customer Service, Operations, and Information Systems.

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 the leading outsourcing vendor, ADP BSG is leveraging its position to provide competitive, cost-effective services to its clients worldwide. Automatic Data Processing, Inc. (NYSE: AUD), with over $4.5 billion in annual revenues and more than 425,000 clients, is one of the largest independent computing services firms in the world. For more information about ADP, please visit our web site at http://www.adp.com.