Major Australian Financial Institution Outsources Mortgage Processing to Unisys With US$80 Million — AUS$146 Million — Agreement

Business Wire, Oct 7, 2002

Business Editors/Hi-Tech Writers

BLUE BELL, Pa.--(BUSINESS WIRE)--Oct. 7, 2002

Outsourcing of Mortgage Processing to Help RAMS Home Loans Improve Its

Competitive Position, as Unisys Strengthens Industry Leadership in

Financial Services

Unisys has been awarded the contract to provide the mortgage operations of RAMS Home Loans, Australia's second-largest non-bank mortgage originator.

The contract value is estimated at more than US$80 Million (AUS$146 million) over seven years.

RAMS Home Loans has 30% of the non-bank mortgage market share in Australia. In the highly competitive Australian home loan sector, speed to market is critical, and Unisys is seeking to reduce product development cycles and speed up loan approvals for RAMS.

Charles Weiser, Group CEO of RAMS, explained: "This was a strategic decision by RAMS. Mortgages are our core business -- in fact, mortgages are our only business. Outsourcing our mortgage operations to Unisys had to enhance our competitive position, which would permit us to better serve our customers, not just reduce our costs. The exacting criteria RAMS set -- enhanced quality of service, speed to market and increased operational efficiencies -- were more than matched by Unisys.

"We are delighted to be the flag-ship mortgage processing client of Unisys in Australia. RAMS will now enjoy the benefits of Unisys world-class technology and ongoing global developments without having to invest directly in these new mortgage and finance solutions. RAMS can focus on enhancing our customer service and maintaining one of the best brand names in Australia."

The RAMS contract further strengthens the leadership position Unisys has in Australia, and elsewhere in the world, in the outsourced processing of mission-critical functions for financial services institutions. The company is also the largest non-bank processor of checks in Australia.

"We are very pleased that RAMS has decided to contract with Unisys for its mortgage processing," said Ron Frankenfield, vice president and general manager, Unisys Asia Pacific Region. "RAMS, and other financial services institutions, will benefit greatly from the establishment of this mortgage utility service. As we add clients and transactions, the cost per unit is reduced. This financial benefit, coupled with access to our market-leading mortgage processing and workflow software, makes for a strong value proposition for our clients."

About Unisys

Unisys is a worldwide information technology services and solutions company. Our people combine expertise in systems integration, outsourcing, infrastructure, server technology and consulting with precision thinking and relentless execution to help clients, in more than 100 countries, quickly and efficiently achieve competitive advantage. For more information, visit www.unisys.com

Forward Looking Statements

Any statements contained in this media release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations.

In particular, statements in this release regarding the potential value of the contract are based upon current assumptions regarding mortgage processing volumes over the seven-year term of the contract. Because no minimum volumes are guaranteed and because the contract is terminable before the end of its term, the estimated value of the contract is not guaranteed.

Additional discussion of factors that could affect Unisys future results is contained in its most recent Form 10-Q filed with the Securities and Exchange Commission.

RELEASE NO.: 1002/8186 http://www.unisys.com/about__unisys/news_a_events/10078186.htm

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