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 AUSTIN, Texas, Oct. 1 /PRNewswire/ -- The Continuum Company, Inc. (NYSE: CNU) announced today that it has acquired 100 percent of Vantage Computer Systems, Inc. from DST Systems, Inc. and Robert S. Maltempo, chief executive officer of Vantage.
 Under the terms of the merger agreement, Continuum acquired Vantage in exchange for 4,000,000 newly issued shares of Continuum common stock with 2,939,000 shares issued immediately and an additional 1,061,000 shares subject to approval by Continuum shareholders. If Continuum shareholders do not approve the issuance of the additional 1,061,000 shares, other consideration will be substituted for the additional shares. Continuum expects to have a special shareholder meeting in the next 90 days.
 Vantage serves the insurance industry with data processing services, third party administration services, computer software and consulting. Vantage has 550 employees and expects revenues of approximately $45 million for the year ending Dec. 31, 1993, principally from customers in the United States life insurance industry.
 DST, a wholly owned subsidiary of Kansas City Southern Industries, Inc. (NYSE: KSU), provides data processing services for the mutual fund, insurance, securities transfer, pharmaceutical, banking and real estate industries. DST will own approximately 19 percent of Continuum outstanding stock as a result of the transaction.
 Thomas A. McDonnell, chief executive officer of DST, stated, "This transaction allows us to focus resources on our strategic technology products and services for the insurance and financial services industries while maintaining a significant ownership in the preeminent supplier of software and services to insurance companies throughout the world."
 W. Michael Long, chief executive officer of Continuum, noted, "The acquisition of Vantage and the strategic alliance with DST substantially enhance our commitment to the North American life insurance industry, while delivering DST and Continuum technologies to the global insurance industry.
 "The insurance industry requires strong partners with broad service and technology capabilities. Early market confirmation of the strength of the Vantage acquisition and the DST alliance has already been demonstrated through the $50,000,000 outsourcing agreement with Harcourt General Insurance announced earlier this week. For Harcourt General, we are providing a fully integrated suite of Continuum, Vantage and DST technologies and services addressing the entire information processing requirements of a progressive insurance company, illustrating the exciting opportunities available to us."
 The Continuum Company, Inc. is an international consulting and computer services firm based in Austin, Texas, serving the needs of life insurance, property and casualty insurance and other financial services companies for computer software and services.
 -0- 10/1/93
 /CONTACT: John L. Westerman III of The Continuum Company, Inc., 512-345-5700/
 (CNU KSU) CO: The Continuum Company, Inc. ST: Texas IN: CPR SU: TNM

WB -- NY080 -- 7898 10/01/93 15:35 EDT
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Publication:PR Newswire
Date:Oct 1, 1993

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