SunGard Investor Accounting Systems and OppenheimerFunds Agree to Terminate Postponed Y2K Project

Business Wire, July 21, 2000

Business Editors/Hi-Tech Writers

WAYNE, Pa.--(BUSINESS WIRE)--July 21, 2000

SunGard Investor Accounting Systems, a unit of SunGard (NYSE:SDS), and OppenheimerFunds, Inc. today announced that they have agreed to terminate the conversion of OppenheimerFund's mutual fund record keeping system to SunGard's Investar*ONE(TM) system.

OppenheimerFunds had selected Investar*ONE in 1998 principally to solve its Y2K compliance issues and also to gain access to the advanced functionality of Investar*ONE which is used by leading providers of mutual funds and large, third party transfer agencies.

As it turned out, both companies had underestimated the customization effort needed to make Investar*ONE suitable for OppenheimerFund's business. When the project extended well into 1999, the conversion was postponed and OppenheimerFunds made its existing mutual fund record keeping system Y2K compliant.

Once the compelling event of Y2K had elapsed, the primary objective for the project no longer pertained.

SunGard officials stated that the termination of the project is not expected to have a material impact on the financial results or financial position of SunGard. Both companies approved the termination, released each other of all further obligations without any payment of money by either party and are cooperating to wind down the project.

OppenheimerFunds is a satisfied user of several other SunGard products, and the firms plan to continue those relationships moving forward.

About OppenheimerFunds, Inc.

OppenheimerFunds, Inc. is one of the largest and most respected mutual fund companies in the United States.

About SunGard

SunGard (NYSE:SDS) is a global leader in integrated IT solutions and eProcessing for financial services. SunGard is also the pioneer and a leading provider of high-availability infrastructure for business continuity.

With annual revenues in excess of $1 billion, SunGard serves more than 10,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions. Visit SunGard at www.sungard.com.

Trademark Info: SunGard(R)and Investar*ONE(TM)are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.