Iceland's Landsvirkjun Implements SunGard's AvantGard for Treasury Management

Business Wire, May 5, 2004

Business Editors/High-Tech Writers

LONDON--(BUSINESS WIRE)--May 5, 2004

SunGard Treasury Systems, an operating group of SunGard (NYSE: SDS), today announced that Landsvirkjun, the national power company of Iceland, has successfully implemented SunGard's AvantGard-Quantum solution at its treasury center in Reykjavik.

The company required a comprehensive treasury management system that would not only meet the present needs of its newly formed treasury operation but would have the depth and flexibility to grow alongside an expanding business.

"Over the last few years Landsvirkjun has expanded its financial activities, resulting in the need to set up a new treasury unit," said Kristjan Gunnarsson, treasurer of the company. "Our requirements of a treasury management solution were set at a high level-- we were looking for a solution that could handle all the cash flows of a complex debt portfolio including vanilla and structured deals. The solution had to handle a wide range of FX instruments including the Icelandic currency and indexed ISK bonds and also meet our need for asset management and risk management."

Martin Boyd, executive vice president EMEA, SunGard Treasury Systems, said, "Landsvirkjun is one of Iceland's top business institutions with a great name in the region. Our Copenhagen office was able to create an AvantGard package combining AvantGard-Quantum and AvantGard-Risk to deliver a comprehensive, fully integrated solution to meet its domestic and international needs. We are pleased by the way in which the solutions' inherent flexibility allowed the implementation project to proceed efficiently with minimal product enhancement."

About Landsvirkjun

Landsvirkjun produces, distributes and sells wholesale electricity to local public utilities and, under special agreements, to power-intensive industries. Its task is to promote greater utilization of Iceland's energy resources and ensure that electricity supply is always sufficient to meet demand. Landsvirkjun constructed the five largest power stations in Iceland together with their reservoirs, and completed an integrated national grid. Landsvirkjun now produces around 85% of all Iceland's electricity. The company is currently building a 690MW hydro power station in connection with a new Alcoa aluminum smelter project due to come on stream in 2007. It is financially independent and has been able to finance development of the power system with its own cash generation and borrowing. Landsvirkjun's mission is to provide its customers with the best energy solutions to create the basis for modern quality of life. www.lv.is

About SunGard Treasury Systems

SunGard Treasury Systems is a leading provider of treasury and risk management solutions. SunGard solutions offer Internet/intranet-based currency and commodity trading and risk management, while also integrating cash management and accounting functionality within a single environment. SunGard solutions provide a secure, real-time link between clients/subscribers and financial institutions and other treasury service providers, offering the straight through processing of treasury transactions and information via Internet messaging. For more information, visit www.treasury.sungard.com.

About SunGard

SunGard is a global leader in integrated software and processing solutions, primarily for financial services. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 20,000 customers in more than 50 countries, including the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenue of $3 billion. Visit SunGard at www.sungard.com.

Trademark Information: SunGard, the SunGard logo, AvantGard-Quantum and AvantGard-Risk 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.