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SS&C Technologies Announces Definitive Agreement to Acquire Financial Models Company Inc.

WINDSOR, Conn. -- SS&C Technologies, Inc. (Nasdaq: SSNC) announced today that it has entered into a definitive agreement to make an offer to acquire all of the outstanding common shares and Class C shares of Financial Models Company Inc. (FMC) of Mississauga, Ontario, Canada (TSX:FMC) for C$17.70 in cash, or an aggregate amount of approximately US$160 million. The Board of Directors of Financial Models has withdrawn its recommendation of an offer by Linedata Services S.A. and unanimously agreed to recommend that Financial Models shareholders accept the SS&C offer.

In support of the transaction, SS&C entered into definitive lock-up agreements with certain stockholders of Financial Models representing approximately 91.8% of Financial Models' outstanding capital stock, including Dr. William R. Waters, BNY Capital Corporation, Triax Growth Fund Inc., Van Berkom and Associates Inc., Stamos Katotakis and entities controlled by Mr. Katotakis. Financial Models has announced that it has been advised that such shareholders have terminated lock-up agreements entered into with Linedata in respect of its take-over bid for the shares of Financial Models.

The consummation of the transaction is subject to certain customary conditions, including the tender of a majority of the Financial Models shares. The transaction is expected to close during April 2005.

Bill Stone, SS&C's Chairman of the Board and Chief Executive Officer, commented, "We believe that the combined strengths of SS&C and FMC will generate significant opportunities. Our combined industry expertise along with the thousands of clients we serve will drive innovation and benefit our employees and shareholders."

About SS&C Technologies, Inc.

SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry. By leveraging expertise in common investment business functions, SS&C cost-effectively serves clients in the different industry segments, including: 1) commercial lending, 2) financial institutions, 3) hedge funds and family offices, 4) insurance entities and pension funds, 5) institutional asset management, 6) municipal finance and 7) real estate property management. SS&C is publicly traded on NASDAQ under the symbol "SSNC". Additional information is available at www.ssctech.com.

This press release contains forward-looking statements, including statements relating to the Company's offer to acquire all of the outstanding shares of FMC capital stock and the expected benefits from the proposed transaction. Such statements reflect management's best judgment, based on factors currently known but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include those risks described in the Company's filings with the United States Securities and Exchange Commission, including without limitation, the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2004. SS&C cautions investors that it may not update any or all of the foregoing forward-looking statements.
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Publication:Business Wire
Date:Feb 25, 2005
Words:466
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