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ANCHOR TO OUTSOURCE DATA PROCESSING OPERATIONS

 ANCHOR TO OUTSOURCE DATA PROCESSING OPERATIONS
 HEWLETT, N.Y., April 8 /PRNewswire/ -- Anchor Savings Bank FSB, a


wholly owned subsidiary of Anchor Bancorp, Inc. (NASDAQ: ABKR), reported that it has signed a six-year contract to outsource its data processing operation under a "facilities management" arrangement with Systematics Financial Services, Inc. The terms of the contract were not disclosed.
 James M. Large, Jr., chairman and chief executive officer of Anchor, stated that "outsourcing data processing functions has become an industry trend, and with good reason." "The significant savings realized by the utilization of Systematics' services will bolster the bank's bottom line and convert Anchor's data processing costs into predictable and defined expenses year after year."
 Under the contract, Systematics will utilize Anchor's present data processing employees, software, hardware, and data processing facilities in Wayne, N.J. Data processing center employees of Anchor's subsidiary, Anchor Systems Corp., will become employees of Systematics.
 Anchor's president and chief operating officer, Richard Dalrymple, said that, "Anchor was impressed with Systematics' outsourcing and financial expertise. Systematics has a long track record of providing comprehensive, high-quality data processing services to the banking industry. Our relationship with Systematics will allow us to leverage technology for the benefit of our customers." He added, "In today's competitive banking environment, we need to utilize every advantage available."
 Joel Talka, executive vice president of Anchor and a member of the managing committee, will continue as Anchor's senior technology officer and have direct responsibility for the Systematics relationship. In addition, he will assume responsibility for Anchor's quality service initiative and will maintain his responsibility for electronic banking and item processing.
 Systematics, with clients in 45 states and 24 countries outside the United States, provides data processing management, services and advanced application software for the financial and telecommunications industries. The Little Rock, Ark.-based company is a subsidiary of ALLTEL Corporation.
 Anchor Savings Bank is among the 25 largest U.S. thrifts with assets of more than $8 billion and deposits of over $6.6 billion.
 -0- 4/8/92
 /CONTACT: Martin Coopersmith of Anchor, 516-596-3950, or Ned Steele or Richard Mulieri of Howard J. Rubenstein Associates, 212-489-6900, for Anchor Savings Bank/
 (ABKR) CO: Anchor Savings Bank FSB; Anchor Bancorp, Inc. ST: New York IN: FIN SU: CON


SM-KW -- NY098 -- 6471 04/08/92 17:28 EDT
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Publication:PR Newswire
Date:Apr 8, 1992
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