Allegiant Banks on Ceridian for Integrated, Web-based Solutions.

Business Editors

MINNEAPOLIS & ST. LOUIS--(BUSINESS WIRE)--Oct. 15, 2002

Ceridian to provide human resources, payroll, tax filing,

time management services and self-service to high-growth financial

institution with 570 employees in over 39 locations

Ceridian, a leader in managed business solutions for human resources and employee effectiveness services, today announced it will provide Allegiant Bancorp, Inc., a St. Louis based financial institution, with a full suite of integrated Web-based solutions. Allegiant rolled out multiple solutions, including human resources, payroll, tax filing, and time management services the first week of October and will implement the self service portion during first quarter 2003.

"Our recent expansion made it even more important for us to streamline and integrate administrative tasks," said Karen Box, senior vice president of human resources at Allegiant Bancorp, Inc. "With Ceridian's Web-based solution, there is a single point of entry to track employee data including real-time labor costs. Ceridian has helped us eliminate a lot of manual rework which has allowed our staff to focus on more strategic human resources initiatives."

"We are pleased to provide Allegiant with our Web-based solutions," said Pat Goepel chief revenue officer at Ceridian's U.S. human resources solutions business. "Allegiant joins the more than 500 companies that have moved to our hosted environment for human resources solutions. It's a trend that benefits companies of all sizes and allows them to stay focused on their core business, while ensuring the ability to track and manage critical HR data."

Ceridian's eSource hosted environment allows companies to free up financial and IT resources, helps ensure compliance, and releases companies from the burden of manual upgrades while giving them continual, uninterrupted access to the latest version of eSource. Customers benefit from 24/7 access to eSource from one point of entry, with industry-standard levels of data security and protection.

About Ceridian

Ceridian enables companies to be free to succeed in their core business through its suite of innovative managed business solutions for HRMS, payroll, tax filing, application outsourcing, time and attendance, benefits administration and employee effectiveness services. Ceridian Corporation (NYSE:CEN) is an information services company serving businesses and employees in the United States, Canada and Europe. For more information about Ceridian's comprehensive array of human resource solutions, visit www.ceridian.com/myceridian or call [phone].

Allegiant Bancorp, Inc.

Allegiant Bancorp, Inc. is the largest bank holding company exclusively serving the St. Louis metropolitan area. The company reported net income for the first quarter of 2002 of $4.63 million, an increase of 81%. Founded in 1989, Allegiant Bank currently serves the community with 39 locations.