Morgan Stanley, Dean Witter Selects Fidelity's ActionSource for Advanced Global Corporate Action Processing

Business Wire, June 2, 1998

BOSTON--(BUSINESS WIRE)--June 2, 1998--Enterprise Data Systems, a Fidelity Technology Solutions company, announced today that Morgan Stanley, Dean Witter and Company, Incorporated has licensed ActionSource(tm), Fidelity's advanced global corporate action processing software. ActionSource improves the quality of corporate action information by automating the collection, verification and distribution of corporate action information from multiple global information sources. Morgan Stanley, Dean Witter plan to implement ActionSource as a global enterprise-wide solution in its offices in New York, London, Tokyo and Hong Kong.

"ActionSource will enable us to provide Morgan Stanley, Dean Witter professionals around the world with the highest quality corporate action information. We will use the system to improve operations, reduce risks, and better serve our clients." said David Hirschfeld, Principal, Morgan Stanley, Dean Witter and Company, Incorporated.

Corporate actions are activities thatimpact a financial instrument, such as a dividend declaration, tender offer or merger. Collecting, verifying and distributing this information is a labor intensive, manual process in most financial organizations. ActionSource was developed by Fidelity and leverages Fidelity's experience in securities processing and technology. Fidelity processes over 1.4 million corporate actions each year and over 93% of the transactions are automated.

"A significant benefit of the system is improved operational productivity and risk management. Financial institutions need to ensure that they have accurate and timely information," said John Rao, President, Enterprise Data Systems. "ActionSource provides a powerful tool for organizations to automate the processing of most corporate action announcements and focus their resources on high risk announcements and exceptions."

As an enterprise-wide system, Morgan Stanley, Dean Witter professionals worldwide will have access to a central depository of information. This will add to the consistency of information and eliminate duplication of effort. "We are excited about the opportunities for superior information and efficient resource allocation that we can achieve with ActionSource," said Hirschfeld.

About Enterprise Data Systems

Enterprise Data Systems, a Fidelity Technology Solutions company, is a premier provider of global securities processing software and outsourcing solutions for financial institutions such as banks, broker-dealers, mutual fund firms and insurance companies. Designed and built by Fidelity and leveraging its securities operations expertise, these products and services provide organizations with more accurate and timely global financial information. For additional information on Enterprise Data Systems and its products contact Paula Caputo at (617) 563-5000 or via e-mail at Paula.Caputo@fmr.com.

About Fidelity Technology Solutions

Fidelity Technology Solutions is a commercial technology company established by Fidelity Investments in 1996 to market software and systems products to the financial services marketplace and other industries. It is comprised of several businesses including: Advisor Technology Services, Enterprise Data Systems, OPserver, Inc., and TRACER 2000. For additional information on Fidelity Technology Solutions contact Jane Peugh at (617) 563-1712, or via e-mail at Jane.Peugh@fmr.com.

    CONTACT: Fidelity Technology Solutions
              Jane Peugh, (617) 563-1712