BISYS(R) Completes Acquisition of Boston Institutional Group

Acquisition Adds 30 Mutual Fund Complexes to BISYS'

Client Roster and Array of Complementary Capabilities



Apr 11, 2001, 01:00 ET from BISYS

    LITTLE FALLS, N.J., April 11 /PRNewswire/ -- BISYS announced today the
 completion of its previously announced acquisition of Boston Institutional
 Group, a respected provider of outsourcing services for mutual fund complexes.
     The acquisition extends BISYS' position as a leading provider of global
 mutual fund services with the addition of approximately 30 major mutual fund
 complexes and strategic enhancements to its outsourcing platform.  Boston
 Institutional Group's premier distribution capabilities, institutional
 trading, competitive research services for the mutual fund and variable
 annuity markets, and independent research services for asset managers will
 enhance BISYS' existing array of fund services.  BISYS expects to quickly
 combine Boston Institutional Group's complementary capabilities with its
 comprehensive industry solutions.
     According to Lynn Mangum, BISYS' chairman and CEO, "This acquisition
 strategically enhances the outsourcing platform now available to support our
 collective clients and ultimately accelerate their asset generation and
 growth.  This merger also represents a significant market share increase for
 BISYS, both in terms of the number of clients supported and the total assets
 serviced.  Based on strong internal growth and this acquisition, BISYS now
 supports 120 fund complexes with assets exceeding $500 billion, a dramatic
 increase in the $300 billion in assets supported approximately one year ago."
     William Nutt, chairman of Boston Institutional Group, reported, "We
 selected BISYS based on its demonstrable ability to offer our valued clients a
 wider array of global fund services and leading-edge technologies which have
 successfully enhanced shareholder services, expanded functional capabilities,
 and improved the operational efficiencies of BISYS' progressive domestic and
 offshore clients."
     The transaction's purchase price was approximately $35 million and was
 accounted for under the purchase accounting method.
 
     About BISYS' Fund Services
     BISYS is the industry's leading third-party administrator of domestic and
 offshore mutual funds, strategically operating as a non-competitive business
 partner with each client.  BISYS is uniquely positioned to perform both the
 high-level and task-oriented functions inherent in the mutual fund industry
 through its extensive array of outsourcing services, advanced technology,
 industry expertise, and award winning client service.  These industry-leading
 capabilities are currently supporting approximately 1,100 mutual fund
 portfolios representing more than $500 billion in assets.
     BISYS' extremely flexible array of outsourcing solutions support fund
 design, administration and accounting, transfer agent and shareholder
 services, and compliance and legal support.  An array of marketing and sales
 solutions, intended to identify and implement asset-generating opportunities,
 includes initial and ongoing sales training, strategic and tactical sales
 support, marketing and distribution programs, and growth-focused pricing and
 product strategies.  Proprietary variable annuity and managed investment
 programs, asset allocation capabilities, cash management and "B" share
 programs, common trust fund conversion expertise, wholesaling programs, and
 point-of-sale systems support also are available.
     BISYS has Internet-enabled its entire suite of core outsourcing solutions
 to revolutionize its day-to-day business activities and generate material
 benefits for its clients and conveniences for their customers.  Fundamental to
 BISYS' success is its ability to operate as a seamless resource, providing
 customized solutions focused on each client's asset growth.
 
     About BISYS
     The BISYS Group, Inc. (Nasdaq:   BSYS), headquartered in Little Falls, N.J.,
 supports more than 15,000 financial institutions and corporate clients through
 three integrated business units.  Its Investment Services Group administers
 and distributes more than 120 families of mutual funds representing
 approximately $500 billion in assets and 1,100 portfolios, provides retirement
 plan services to more than 10,000 companies in partnership with 25 of the
 nation's leading bank and investment management companies, and offers
 investment industry consulting services.  The Insurance and Education Services
 Group provides distribution solutions for life, group health, disability
 income, and long-term care insurance; offers certification and continuing
 education training for insurance and investment professionals; and provides
 licensing-related software products and services.  BISYS' Information Services
 Group provides information processing and check imaging solutions to
 approximately 1,000 financial institutions.
 
     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 subject to risks and
 uncertainties that may cause actual results to differ materially, including
 but not limited to economic, competitive, governmental and technological
 factors affecting the Company's operations, markets, services and related
 products, prices and other factors discussed in the Company's periodic filings
 with the Securities and Exchange Commission.
 
 

SOURCE BISYS
    LITTLE FALLS, N.J., April 11 /PRNewswire/ -- BISYS announced today the
 completion of its previously announced acquisition of Boston Institutional
 Group, a respected provider of outsourcing services for mutual fund complexes.
     The acquisition extends BISYS' position as a leading provider of global
 mutual fund services with the addition of approximately 30 major mutual fund
 complexes and strategic enhancements to its outsourcing platform.  Boston
 Institutional Group's premier distribution capabilities, institutional
 trading, competitive research services for the mutual fund and variable
 annuity markets, and independent research services for asset managers will
 enhance BISYS' existing array of fund services.  BISYS expects to quickly
 combine Boston Institutional Group's complementary capabilities with its
 comprehensive industry solutions.
     According to Lynn Mangum, BISYS' chairman and CEO, "This acquisition
 strategically enhances the outsourcing platform now available to support our
 collective clients and ultimately accelerate their asset generation and
 growth.  This merger also represents a significant market share increase for
 BISYS, both in terms of the number of clients supported and the total assets
 serviced.  Based on strong internal growth and this acquisition, BISYS now
 supports 120 fund complexes with assets exceeding $500 billion, a dramatic
 increase in the $300 billion in assets supported approximately one year ago."
     William Nutt, chairman of Boston Institutional Group, reported, "We
 selected BISYS based on its demonstrable ability to offer our valued clients a
 wider array of global fund services and leading-edge technologies which have
 successfully enhanced shareholder services, expanded functional capabilities,
 and improved the operational efficiencies of BISYS' progressive domestic and
 offshore clients."
     The transaction's purchase price was approximately $35 million and was
 accounted for under the purchase accounting method.
 
     About BISYS' Fund Services
     BISYS is the industry's leading third-party administrator of domestic and
 offshore mutual funds, strategically operating as a non-competitive business
 partner with each client.  BISYS is uniquely positioned to perform both the
 high-level and task-oriented functions inherent in the mutual fund industry
 through its extensive array of outsourcing services, advanced technology,
 industry expertise, and award winning client service.  These industry-leading
 capabilities are currently supporting approximately 1,100 mutual fund
 portfolios representing more than $500 billion in assets.
     BISYS' extremely flexible array of outsourcing solutions support fund
 design, administration and accounting, transfer agent and shareholder
 services, and compliance and legal support.  An array of marketing and sales
 solutions, intended to identify and implement asset-generating opportunities,
 includes initial and ongoing sales training, strategic and tactical sales
 support, marketing and distribution programs, and growth-focused pricing and
 product strategies.  Proprietary variable annuity and managed investment
 programs, asset allocation capabilities, cash management and "B" share
 programs, common trust fund conversion expertise, wholesaling programs, and
 point-of-sale systems support also are available.
     BISYS has Internet-enabled its entire suite of core outsourcing solutions
 to revolutionize its day-to-day business activities and generate material
 benefits for its clients and conveniences for their customers.  Fundamental to
 BISYS' success is its ability to operate as a seamless resource, providing
 customized solutions focused on each client's asset growth.
 
     About BISYS
     The BISYS Group, Inc. (Nasdaq:   BSYS), headquartered in Little Falls, N.J.,
 supports more than 15,000 financial institutions and corporate clients through
 three integrated business units.  Its Investment Services Group administers
 and distributes more than 120 families of mutual funds representing
 approximately $500 billion in assets and 1,100 portfolios, provides retirement
 plan services to more than 10,000 companies in partnership with 25 of the
 nation's leading bank and investment management companies, and offers
 investment industry consulting services.  The Insurance and Education Services
 Group provides distribution solutions for life, group health, disability
 income, and long-term care insurance; offers certification and continuing
 education training for insurance and investment professionals; and provides
 licensing-related software products and services.  BISYS' Information Services
 Group provides information processing and check imaging solutions to
 approximately 1,000 financial institutions.
 
     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 subject to risks and
 uncertainties that may cause actual results to differ materially, including
 but not limited to economic, competitive, governmental and technological
 factors affecting the Company's operations, markets, services and related
 products, prices and other factors discussed in the Company's periodic filings
 with the Securities and Exchange Commission.
 
 SOURCE  BISYS

RELATED LINKS

http://www.bisys.com