SunGard Data Systems Inc. Announces Agreement in Principle to Acquire Automated Securities Clearance, Ltd

Business Wire, Feb 18, 1999

WAYNE, Pa.--(BUSINESS WIRE)--Feb. 17, 1999--SunGard Data Systems Inc. (NYSE:SDS) announced today that it has reached an agreement in principle to acquire New Jersey-based Automated Securities Clearance, Ltd. ("ASC").

ASC was founded by its chairman, Carl LaGrassa, to provide automated trading systems.

ASC's major products include BRASS, an automated order routing and execution system provided to over 150 broker/dealers across the United States; BRUT, an electronic communications network that provides direct access to the NASDAQ marketplace; and AXIS, a provider of proprietary wireless technology for straight-through processing of NYSE trades.

BRASS handles more than 500,000 trades daily, representing over 50% of all NASDAQ order flow. Customers include Fidelity Brokerage, Quick and Reilly, Morgan Stanley and Knight Securities. Knight Securities is an execution broker for several leading Internet brokers including E

rade (NASD:EGRP), Ameritrade (NASD:AMTD) and Waterhouse
Securities.
     Merrill Lynch, Goldman Sachs, Morgan Stanley and Knight
Securities are minority investors in BRUT.
     James L. Mann, chairman and chief executive officer of SunGard,
stated, "ASC will further enhance SunGard's position as the technology
leader in the brokerage market. As trading volumes continue to grow,
the processing and routing of orders becomes the key components of an
efficient marketplace. Recent regulatory initiatives by the SEC
increase the value and importance of systems such as BRASS and BRUT,
which are uniquely positioned to benefit from these industry trends."
     Robert Greifeld, president of ASC, and his executive team will
continue to manage ASC as an independent company within the SunGard
Brokerage Systems Group. Greifeld said of the proposed acquisition,
"We are delighted to be joining SunGard. SunGard's experience with
mission-critical systems will greatly benefit our clients, who require
increasingly higher performance solutions to handle online
Internet-based trading growth. SunGard's history of technology
leadership, product investment and its worldwide presence, will serve
our customers well."
     The acquisition, which is intended to be accounted for as a
pooling of interests, is subject to regulatory approval and is
expected to close by the end of the first quarter of 1999. Excluding
one-time charges related to the acquisition, the transaction is not
expected to have a material impact on SunGard's financial results.
     SunGard's business is computer service and application software.
The Company is the only large specialized provider of proprietary
investment support systems and is the pioneer and a leading provider
of comprehensive computer disaster recovery services. Its common stock
is reported on the New York Stock Exchange under the symbol SDS.

     "Safe Harbor" Statement under Private Securities Litigation
Reform Act of 1995

     Statements about the Company's 1999 outlook and all other
statements in this release other than historical facts are
forward-looking statements. Since these statements involve risks and
uncertainties and are subject to change at any time, the Company's
actual results could differ materially from expected results.
     The Company derives most of its forward-looking statements from
its operating budgets and forecasts, which are based upon many
detailed assumptions.
     While the Company believes that its assumptions are reasonable,
it cautions that there are inherent difficulties in predicting certain
important factors, especially the timing and magnitude of software
sales, the effect of year 2000 issues on software and services buying
decisions, the timing and scope of technological advances and year
2000 compliance, the integration and performance of acquired
businesses, the prospects for future acquisitions, and the overall
condition of the financial services industry.
     These factors, as and when applicable, are discussed in the
Company's filings with the Securities and Exchange Commission,
including its most recent Form 10-K, a copy of which may be obtained
from the Company without charge.