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UK Firms Launch Advanced Portal For IFAs

by Carla Johnson, Investors Offshore, London

04 September 2001

Leading UK software product firm Misys, which just a few weeks ago completed its £75m purchase of DBS Management, has announced that it will create a centre of excellence to deliver technology solutions for IFAs and financial product providers, based at DBS subsidiary AssureSoft's existing operation in Cheltenham, Gloucestershire.

The core IFA portal, which will deliver full cycle electronic trading on a range of life, pensions and investment products, will be based on the on-line strengths of the existing AssureWeb platform but will use the advanced off-line working capability of m-link. This will allow close integration with desktop point of sales systems for IFAs. A decision on the name of the new portal will be made later this year.

A new management team, led by Managing Director Helen O'Dea, will spearhead the continued development of the portal, seamlessly integrating with the new end-to-end desktop software, mi-solution, scheduled for launch before the end of the year.

Ivan Martin, Chief Executive, Misys Financial Services Division, commented:

"As we said at the time of the DBS acquisition, Assureweb and m-link combined can create a fully functional IFA portal that will deliver significant benefit to the industry. This is the first phase of the integration plan, which we have delivered well ahead of our initial 4-6 week timetable.

"Working in partnership with providers, we can now concentrate the right resources on delivering the market-leading, e-trading solution which will benefit IFAs and product providers alike. This announcement highlights our clear strategy - a commitment to preserving the key features of both m-link and AssureWeb, our intention to create a "centre of excellence" with staff in Cheltenham, and the appointment of a highly-experienced management team to develop a strong, industry-wide initiative."

Misys plc, a FTSE-100 company, is one of the world's leading applications software products companies. Misys develops and licences a variety of software products to customers in the international banking and securities, US healthcare, and UK retail financial services sectors and supplies outsourcing functions to IFAs through 5 IFA networks. The group aims to partner with its customers to improve business processes through the development, integration and delivery of industry specific IT and outsourcing solutions. For the year ended 31 May 2001, Misys reported revenues of £849m and operating profits, from continuing operations, of £140m. Misys employs over 6,500 people internationally.

DBS's AssureSoft was founded in 1995 to provide software products to facilitate the sales, compliance and administration procedures for financial advisers and product providers. It is a leading provider of e-commerce and technology related services. In 2001 AssureSoft has announced major partnerships with CMG Admiral and Microsoft, among others.

At the time of the DBS acquisition, Misys said it believed that, by combining Misys' and DBS Management's e-commerce initiatives, development expenditure could be deployed more effectively, providing further benefits to the entire IFA community. Kevin Lomax, Chairman of Misys, said: "The acquisition of DBS Management demonstrates Misys' continuing commitment to the IFA distribution channel and confidence in the growth opportunities which lie ahead. The combination of our portal businesses and respective strengths in IFA networks will benefit consumers, product providers and IFAs alike."

For further information, please contact:

Paul Charles
Head of Media Relations, Misys
Tel: 020 7368 2300

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