DST Systems, Inc. (DST) Announces Organizational Changes

Dec 12, 2003, 00:00 ET from DST Systems, Inc.

    KANSAS CITY, Mo., Dec. 12 /PRNewswire-FirstCall/ -- Charles W. Schellhorn
 has announced his resignation as President and CEO of DST Output, effective
 January 1, 2004, to focus solely on his leadership role at Argus Health
 Systems, a 50% owned joint venture of DST, based in Kansas City, Mo.
     To fill the DST Output leadership position, Steven J. Towle, President and
 COO of Boston Financial Data Services, Inc. (BFDS), a 50% owned joint venture
 of DST, will become DST Output's President and CEO, effective January 1, 2004.
 He will report directly to Thomas A. McDonnell, President and CEO of DST.
     Mr. Towle joined Boston Financial in May of 1997 as the Senior Vice
 President responsible for the Mutual Funds Division, Cash Management,
 Operations Support Services and Client Resources. He previously served as a
 principal in Investor Services with Scudder, Stevens & Clark in Boston, where
 he managed transfer agent operations, servicing two million accounts in the
 Scudder, AARP and Scudder Institutional Fund families.
     Stephen C. Hooley, Senior Vice President of State Street Corporation, will
 assume the position of President and CEO at BFDS, effective January 1, 2004.
 He will report to Thomas A. McCullough, Executive Vice President and COO of
 DST and Chairman of BFDS. In his 11 years with State Street, Mr. Hooley has
 held several executive positions, including leading the company's corporate
 pensions business, and has extensive experience in IT reengineering. He most
 recently supervised the integration of the U.S. operations of the Global
 Securities Services business acquired from Deutsche Bank into State Street.
     Terry L. Metzger, DST Vice President of Mutual Fund Remote Customer
 Relationships, will assume the role of Executive Vice President and COO at
 BFDS, effective January 1, 2004, reporting to Steve Hooley. In his more than
 24 years at DST, Mr. Metzger's responsibilities included the management of
 several of DST's remote mutual fund customer relationships, including BFDS.
 During the transition, Mr. Metzger's direct reports will report to Robert L.
 Tritt, Group Vice President of DST.
     The information and comments above may include forward-looking statements
 respecting DST and its businesses. Such information and comments are based on
 DST's views as of today, and actual results could differ. There could be a
 number of factors affecting future results, including those set forth in Form
 8-K/A dated March 17, 2003 filed by DST with the Securities and Exchange
 Commission. All such factors should be considered in evaluating any forward-
 looking comment. The Company will not update any forward-looking statements in
 this press release to reflect future events.

SOURCE DST Systems, Inc.