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ALLTEL'S SYSTEMATICS SIGNS LONG-TERM OUTSOURCING CONTRACT WITH HIBERNIA NATIONAL BANK

 LITTLE ROCK, Ark., Jan. 14 /PRNewswire/ -- ALLTEL Corporation (NYSE: AT) announced today that Hibernia National Bank of New Orleans has signed a long-term contract to outsource its information processing operations to ALLTEL's Systematics Financial Services, Inc. subsidiary. Hibernia is Louisiana's largest statewide banking franchise, with assets of $4.8 billion and 101 locations.
 The arrangement involves a remote environment with processing to be handled at Systematics' Little Rock, Ark., Technology Center utilizing Systematics' Integrated Financial Software and Branch Automation Solution. Hibernia has signed merger agreements with four Louisiana financial institutions and will rely on Systematics for conversion of the banks to the common software platform. Significantly reduced cost of service and Systematics' extensive experience in financial institution conversions and technology migrations played a key role in the decision.
 Hibernia estimates it will achieve savings of almost $40 million over eight years as a result of the contract with Systematics. In addition, the new system will enable the bank to enhance client service and promote operating efficiencies.
 Systematics, with clients throughout the United States and in 34 countries around the world, provides information processing management, outsourcing services and software to the financial, telecommunications and healthcare industries. The company is a subsidiary of ALLTEL Corporation.
 ALLTEL Corporation (NYSE: AT) is a leading telecommunications and information services company. In addition to local telephone service, ALLTEL subsidiaries provide cellular telephone service, information services and communications products.
 -0- 1/14/94
 /CONTACT: Ron Payne, vice president-corporate communications, of ALLTEL Corp., 501-661-8989/
 (AT)


CO: ALLTEL Corp.; Hibernia National Bank ST: Arkansas, Louisiana IN: TLS SU: CON

KL -- CL008 -- 1167 01/14/94 10:26 EST
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Publication:PR Newswire
Date:Jan 14, 1994
Words:269
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