Fiserv Securities to Clear for Sands Brothers & Co., Ltd. Agreement Marks 20th New Securities Client of 2001

Business Wire,  August 28, 2001  

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Business Editors

PHILADELPHIA--(BUSINESS WIRE)--Aug. 28, 2001

Fiserv Securities, Inc. (FSI), a subsidiary of Fiserv, Inc. (Nasdaq: FISV), announced today that it has entered into a multimillion-dollar, multi-year agreement with Sands Brothers & Co., Ltd., a member of the New York Stock Exchange (www.sandsbros.com), to provide clearing and execution services.

Sands Brothers is the 20th new client this year for Fiserv Securities, extending an already record sales year for the Fiserv subsidiary.

"The key reason we went with Fiserv Securities is that they are absolutely committed to helping us build the best clearing and execution services for our high net worth clientele. The systems and various other services provided by Fiserv should help us in providing best of breed investment opportunities to our client base," said Michael Caska, Managing Director, COO and CFO for Sands Brothers. "At this stage in our mutual growth, we see Fiserv and Sands Brothers growing exponentially from this relationship."

Sands Brothers & Co., Ltd. has more than $2 billion in assets and provides a full range of investment services principally to high net worth individuals, institutional money managers and corporations (both public and private). In addition to over 250 registered professionals, Sands Brothers staff includes an asset management business, corporate finance professionals and a venture capital operation, as well as syndicate and trading departments. Based in New York City, Sands Brothers and affiliates also operate offices in San Francisco, Toronto and London.

The Sands Brothers program supports a complete array of products and services, including asset management, mutual funds, wrap products, investment advice and research. Sands Brothers also plans on using the Fiserv Securities FSI Professional, an Internet-based, single-sign-on portal providing access to front and back office products and services and state-of-the-art technology solutions.

"We are especially pleased that Sands Brothers selected Fiserv Securities as their new clearing firm," said Lawrence E. Donato, President & Chief Executive Officer of Fiserv Securities, Inc. "This long-term contract emphasizes that we can not only service the current needs of Sands Brothers, but that our business philosophies match well for the future."

This year's sales results for Fiserv Securities eclipse the previous record posted last year.

"We believe Fiserv Securities is well positioned to take advantage of a positive change in the direction of the financial markets," said Bob Beriault, President and Chief Operating Officer of the Fiserv Securities Processing Group.

Fiserv Securities, Inc. (www.fiservsecurities.com) specializes in clearing and execution services and technology development for financial institutions. Fiserv Securities, one of the leading clearing firms in the country, processes millions of transactions monthly for close to 400 broker dealers, banks, credit unions and other financial intermediaries.

Fiserv Securities is a subsidiary of Fiserv, Inc. (Nasdaq: FISV), an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 10,000 financial service providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance agents and companies, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv also can be found on the Internet at www.fiserv.com.

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