PricewaterhouseCoopers Announces Global Securities Processing Solution to Reflect E-Business Momentum in Alliance with Wilco International.

NEW YORK--(BUSINESS WIRE)--Dec. 6, 1999--

PricewaterhouseCoopers and Wilco International, an ADP subsidiary (NYSE:AUD), today announced that they have entered into a global business alliance to provide securities firms with a processing solution to meet the challenges of E-business, globalization and deregulation. These developments together with greater processing efficiencies, multiple distribution channels, growing and volatile trading volumes, are forcing securities firms to seek innovative solutions to manage the trade life-cycle.

Existing players are faced with re-engineering, replacing or outsourcing their legacy systems to deal with shortened settlement cycles and attaining Straight through Processing (STP). Some will meet these challenges by forming consortiums to achieve economies of scale. New entrants will need to quickly add processing capacity as their businesses expand globally. Recognizing the need for `speed to market', PricewaterhouseCoopers has developed a solution set, known as `virtual trade management' (VTM) to facilitate implementation of a competitive response to dramatic market changes.

VTM is a suite of leading applications, technologies and services for global trade processing, settlement and management that PricewaterhouseCoopers is geared up to implement and integrate in either a greenfield or a legacy environment. The groundwork done by PricewaterhouseCoopers and alliance members such as Wilco, will allow clients to move fast and to ensure a seamless business and systems solution with the most current proven technology.

Today's announcement of the first keystone alliance with Wilco International, a provider of component-based solutions for managing and processing cross-border transactions, marks the beginning of a global-roll out of the VTM solution. Building on Wilco's product line, PwC will incorporate other software packages and services to further develop VTM, for example to include elements of customer relationship management (CRM), Supply Chain Management (SCM) and hardware re-selling.

William E Irving, Global Leader, Capital Markets Consulting at PricewaterhouseCoopers said:

"Working closely with Wilco, we are further strengthening the capability of our Global Securities Processing practice, and confirming our position as the leader in global strategic and process driven change for Capital Markets."

Firms will also benefit from PricewaterhouseCoopers market analysis, change management and process re-engineering services. Irving continued:

"With the dramatic rise in e-business and the drive for efficient, low-risk operations, the ability to adapt is of paramount importance. PricewaterhouseCoopers is strategically positioned to enable firms to capitalize on opportunities arising from e-business and changing market conditions through effective change management and the rapid deployment of Wilco's systems."

Stephen Bloomer, Wilco International's Managing Director, commented:

"This strategic relationship with PricewaterhouseCoopers, which is recognized for its exceptional financial markets presence and infrastructure, will accelerate our market position and further enhance the scope of Wilco's market leading financial software products and related services."

Wilco specializes in providing advanced systems to the brokerage, investment banking and custodian community for global straight through processing, Internet brokerage and outsourcing. Its products include the market leading Gloss securities processing workflow system which is used by many of the world's leading financial services organizations. PricewaterhouseCoopers business and technical managers are now receiving training on Wilco's products and service solutions. -0-

Notes to Editor:

1.   The Management Consulting Services practice of
     PricewaterhouseCoopers helps clients maximize their business
     performance by integrating strategic change, process improvements
     and technology solutions. Through a world-wide network of skills
     and resources, consultants manage complex projects with global
     capabilities and local knowledge, from strategy through
     implementation. PricewaterhouseCoopers (www.pwcglobal.com), is
     the world's largest professional services organization. Drawing
     on the talents of more than 150,000 people in 150 countries, the
     organization provides a full range of business advisory services
     to leading global, national and local companies and to public
     institutions.

2.   Wilco is an international software house that specializes in
     supplying securities and investment banking systems and
     enterprise wide middleware solutions. It is represented globally
     through its regional offices in London, New York, Hong Kong,
     Geneva, Tokyo and Hyderabad. Wilco is a wholly owned subsidiary
     of ADP. For further information on Wilco or its parent company
     ADP, visit their respective web-sites at www.wilco-int.com and
     www.adp.com.