The BISYS Group, Inc.

90 PARK AVENUE
NEW YORK, NEW YORK 10016
212-907-6000
www.bisys.com

Data Processing  -  Category Directory

Sales

$1 billion

Business Description

CThe BISYS(R) Group, Inc., together with its wholly owned subsidiaries,
supports more than 20,000 financial institutions and corporate clients with
products and services provided through three principal business groups: BISYS
Investment Services, BISYS Insurance and Education Services, and BISYS
Information Services. We distribute and administer approximately 2,100 mutual
funds, hedge funds, private equity funds and other investment products
representing more than $650 billion in assets under contract; provide retirement
plan recordkeeping services to more than 15,000 companies in partnership with 40
of the nation's leading bank and investment management companies; support
approximately 400,000 employers and four million IRA holders with ERISA plan
documents and ancillary services; provide life and commercial property/casualty
insurance distribution solutions, professional certification training and
continuing education, and licensing and compliance-related products and
services; and provide information processing and check imaging solutions to
approximately 1,450 banks, insurance companies and corporations nationwide.

We seek to be our clients' single source for our offered outsourcing
solutions and to improve their performance, profitability and competitive
position. We endeavor to expand the scope of our services through focused
account management, emphasizing services with recurring revenues and long-term
contracts. We increase our business base through (i) organic growth of our
clients, (ii) sales of additional products and services to existing clients,
(iii) direct sales to new clients, and (iv) acquisitions of businesses that
provide similar and/or complementary outsourcing solutions to financial
organizations and other customers.

BISYS INVESTMENT SERVICES

Our Investment Services group provides a broad array of investment
services, including mutual fund, hedge fund, private equity fund and retirement
plan services.

We support approximately 100 domestic and offshore mutual fund clients,
representing more than 1,500 registered and non-registered funds, and more than
$575 billion in assets. Our
fund services include administration and accounting, transfer agency and
shareholder services, compliance and regulatory support, and marketing and
distribution solutions. Through our Financial Research Corporation (FRC)
subsidiary, we also provide the market analytics, research and consulting
services financial services firms need to develop and distribute competitive
products and services.

We are a leading global hedge fund administrator, supporting more than
400 hedge funds, funds of hedge funds and other alternative investments,
representing approximately $60 billion in assets. Our full-service hedge fund
solution includes fund accounting and valuation, investor and transfer agency
services, director and corporate secretarial services, and legal, compliance,
and tax support.

We are also a leading provider of accounting, administration, advisory
and tax services for private equity funds, supporting more than 225 funds with
invested capital of approximately $17 billion.

Through our relationships with 40 institutional clients, we support
more than 15,000 small and mid-size retirement plans and their approximately 1.3
million eligible employees. Our comprehensive retirement plan solution includes
prototype plan design and maintenance, administration and recordkeeping, ERISA
documents and forms, customized marketing and sales support, and staff training
and development. In addition, we provide a turnkey administration and
recordkeeping solution for owner-only Individual(k) plans, and support 13
institutional clients and approximately 850 Individual(k) plans. We also support
approximately 400,000 employers and four million IRA holders with ERISA
documents and ancillary services, and train approximately 12,000 industry
professionals annually.

BISYS INSURANCE AND EDUCATION SERVICES

Our Insurance and Education Services group provides an overall solution
for life insurance and commercial property/casualty insurance distribution, and
financial services education and licensing automation.

We are a leading independent distributor of life insurance and provider
of the support services required to sell multiple lines of life-related
insurance and annuity products and services. We distribute the products of
approximately 200 of the most highly rated insurance companies through
approximately 100,000 career and independent insurance agents and financial
services professionals. The insurance companies manufacture the insurance
products and assume the underwriting risk and full responsibility for the policy
benefits, while the agents and financial services professionals work directly
with consumers. We support the entire sales process for term and fixed universal
life, variable life, long-term care, disability and annuity products with a
comprehensive suite of services, including agent licensing, contracting and
continuing education, sales support, advanced case design, application
processing, medical underwriting support, commission reconciliation, and policy
owner services. We also provide a robust insurance administration system and
advanced Internet-based capabilities designed to expedite the sales process.

We are also a leading independent provider of commercial
property/casualty insurance products. We distribute the products of
approximately 60 property/casualty insurance companies through approximately
1,200 retail brokers and agents. We support the distribution process with
complete sales and back-office support services. We specialize in insurance
solutions for
complex property and casualty risks, commercial and habitational real estate,
such as apartment and condominium complexes, high-limit property capacity and
property catastrophe, directors' and officers' liability, errors and omissions
liability and employment practices liability.

We provide training solutions for insurance and investment
professionals, supporting compliance requirements at various stages of career
development with more than 215 pre-licensing, continuing education and advanced
designation courses. Financial services professionals have enrolled in more than
300,000 of our courses during the past year, which were delivered through
traditional instructor-led and self-study programs, or through technology-based
alternatives including interactive online and computer-based programs.

Our suite of integrated products and services automates the complex
insurance licensing and securities registration processes, and facilitates
compliance with state and federal regulations. More than 600 insurance
companies, broker-dealers and banks utilize our integrated, Internet-enabled
products and services to automate and track the licensing process.

BISYS INFORMATION SERVICES

Our Information Services group supports approximately 1,450 banks,
insurance companies and corporations with information processing, asset
retention solutions, specialized back-office services required to support
corporate-sponsored cash management programs and check imaging solutions.

Our comprehensive banking platform supports banks with integrated core
deposit and lending, commercial and retail services, ATM and debit card
processing, electronic and Internet-based banking, branch automation, customer
relationship management, executive decision-support tools and document imaging.
We also provide a complete imaging platform, enabling our clients to convert
paper-based checks into digital or "virtual" checks and process them
electronically.

The American Bankers Association, through its Corporation for American
Banking subsidiary, endorses both our core information processing solution and
our check imaging platform on an exclusive basis as the recommended solutions
for community banks.

Our asset retention and corporate banking solutions leverage our
traditional banking services to provide an industry-leading suite of outsourced
solutions, including information and transaction processing, and call center
services. These services enable life and property/casualty insurance companies
to establish ongoing customer relationships with claimants and beneficiaries by
offering personalized checking accounts and online debit and stored value cards
as alternatives to lump sum payments. Our specialized back-office services also
provide complete management for corporate-sponsored cash management programs. We
currently enable life and property/casualty insurance companies and corporations
to retain more than $13.5 billion in assets.

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