BISYS® Alternative Investment Services and T-Zero Create Strategic Alliance to Provide Leading Credit Derivative Affirmation Service

Business Wire, Dec 6, 2006

ROSELAND, N.J. -- BISYS Alternative Investment Services, a leading global provider of administrative, accounting and tax services for the hedge fund and private equity industry, today announced a new strategic partnership with T-Zero, a credit derivative market leader in trade affirmation. T-Zero provides a leading post-trade affirmation and connectivity platform for the Credit Default Swap (CDS) market.

The BISYS Alternative Investment Services partnership with T-Zero facilitates integrated processing with a system that supports the drive for automation in the fast-growing derivatives market. T-Zero provides an easily adaptable post-trade affirmation and messaging service that confirms trades prior to processing in order to ensure accurate trading details. T-Zero provides a core level of connectivity between clients, brokers and the BISYS platform that enables straight-through-processing (STP) for a key over-the-counter (OTC) investment product.

"In partnering with T-Zero, BISYS again demonstrates its commitment to clients' trading complex strategies and instruments," said Mary Lumetta, vice president of BISYS Hedge Fund Services. "We have expanded our STP model to further automate the processing of OTC products. T-Zero provides us with a consistent trade source that allows us to quickly set up and automate the processing of trade files. The integration of T-Zero into our product suite provides better operating controls

and proactively addresses issues before they become problems for both us and our clients."

"T-Zero is very excited to be partnering with BISYS in this way," said Mark Beeston, president of T-Zero. "As a major player in the derivative fund administration space, BISYS is clearly committed to improving the quality of operational processing for their clients, and we are pleased that the T-Zero affirmation process is a key part of that."

About T-Zero

T-Zero is the credit derivative market leader in trade affirmation and agnostic connectivity. The T-Zero platform ensures 100% accuracy of trade capture on trade date, greatly reducing operational and settlement risks and paving the way for sustained future growth in the industry.

T-Zero's "agnostic connectivity" enables electronic delivery of trade data to virtually any downstream system and market service provider including DTCC Deriv/SERV, GlobeOp, Calypso and Thunderhead, either through a stand alone system or through your Bloomberg PROFESSIONAL terminal. T-Zero also provides straight-through-processing services for the market leading e-trading platforms of Creditex and BGC partners.

A truly open communications platform, T-Zero connects market participants including major credit derivatives dealers, hedge funds, asset managers, prime brokers, fund administrators and documentation execution providers. Visit www.tzero.com for more information.

About BISYS Alternative Investment Services

BISYS Alternative Investment Services is a leading global provider of administrative, accounting, advisory, and tax services for the alternative investment industry with over $225 billion in assets under administration. BISYS provides innovative and tailored solutions to approximately 500 clients and over 1,500 funds, including hedge funds, private equity funds, fund-of-funds, and other alternative investment products. BISYS Alternative Investment Services is a division of The BISYS Group, Inc.

About BISYS

The BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that enable investment firms and insurance companies to more efficiently serve their customers, grow their businesses, and respond to evolving regulatory requirements. Its Investment Services group provides administration and distribution services for mutual funds, hedge funds, private equity funds, retirement plans, separately managed accounts, and other investment products. Through its Insurance Services group, BISYS is the nation's largest independent wholesale distributor of life insurance and a leading independent wholesale distributor of commercial property/casualty insurance, long-term care, disability, and annuity products. Additional information is available at www.bisys.com.

Except for the historical information contained herein, the matters discussed in the press release are forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current reasonable expectations and are subject to certain assumptions, risks, uncertainties and changes in circumstances due to future events as well as changes in economic, competitive, regulatory and/or technological factors affecting BISYS' business, including, without limitation, the ongoing government investigations and litigations involving the company. More detailed information about risk factors that could cause actual results to differ materially are noted in BISYS' periodic filings with the Securities and Exchange Commission. These documents can be accessed on BISYS' website at www.bisys.com under the "Investor Relations" tab. Forward-looking statements are only predictions, not guarantees of performance, and speak only as of the date they are made. BISYS disclaims any obligation to update or amend these statements in light of new information, future events or otherwise.