Merrin Financial Adds Some Key Management Personnel.

NEW YORK--(BUSINESS WIRE)--Oct. 20, 1997--Over the past month, Merrin Financial has created and filled several strategic positions within their management team.

They have appointed several experienced executives and mangers to all areas of the company.

Thom Keeling comes to Merrin with over fifteen years experience within ADP Financial Information Services (FIS) to head up product management. As the new vice president of product management, Thom will be responsible for strengthening Merrin's product cycle including the planning and production stages. Thom has held several senior management positions in product management, account management, business development and planning at FIS. Most recently Thom was v.p. new products in the strategic investment area. Prior to joining ADP, Thom was a strategy consultant with the Boston Consulting Group.

Bill Fallon joins the Merrin management team from Global Treasury Information Services (GTIS) as the director of account management. This newly created position will oversee Merrin's existing account base. At GTIS, Fallon was responsible for North American sales and marketing of their entire product suite. Before joining GTIS, Fallon was a team leader in the sales department of Knight-Ridder Financial. He was recruited from The Bank of Tokyo where he spent six years as a Foreign Exchange dealer.

Tim Profitt comes to Merrin's organization in the new role of vice president of product architecture. He will be responsible for handling Merrin's systems architecture for all of their future products. As vice president of software development and architecture at GTIS, Profitt successfully developed their web-based Evolution product. Evolution provides equities, fixed-income, foreign exchange and money markets pricing data with integrated real-time news. He also helped develop the first phase of the K2 messaging API, enabling clients to access ADP's real-time market data via an interactive data feed.

Steve Williams is another key addition to Merrin Financial. He joins Merrin as vice president and general manager of the InterMarket Trading Network (ITN) -- Merrin's leading institutional order routing network. Williams has 15 years of technology, business development and marketing experience in the financial services arena. Prior to joining Merrin, Williams was vice president of strategic product management in the Strategic Investments unit of ADP/FIS. Williams's goal for ITN is "to provide ITN buy-side clients access to the greatest liquidity and sell-side clients with cost-effective technology to create and maintain their trading relationships."

Merrin president and CEO, Seth Merrin, welcomes the new management members. "They are all extremely talented and experienced managers who add a great deal of value to our organization. We are pleased to have them all here to help lead our Product and Account Management team."

Merrin Financial, a division of Automatic Data Processing Inc. (ADP), become the recognized leader in providing trade order management systems to institutional money managers. Merrin's product suite, which includes order management (MFTP), order routing (InterMarket Trading Network), compliance systems (CompALERT, CompPLUS, Rule EXPERT), and portfolio modeling rebalancing, is designed to automate the entire investment from the investment decision through to the dissemination of trade data.

Merrin Financial is a part of ADP Financial Information Services (ADP FIS), a subsidiary of Automatic Data Processing Inc. ADP FIS brings to institutions advanced, integrated solutions for securities processing, market information and investor communications services. As the leading outsourcing vendor, ADP (FIS) is leveraging its position in these core businesses to provide cost-effective, reliable systems that are backed by "world class" customer service. ADP FIS is committed to providing this service to its over 3,800 clients through the Year 2000. Automatic Data Processing Inc. (NYSE:AUD), with over $4 billion in annual revenues and more than 400,000 clients, is one of the largest independent computing services firms in the world.

CONTACT: Merrin Financial, New York

Marc Mandelbaum, 212/708-2771

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