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ARCA Asset Management selects integrated SunGard solution Panorama and Decalog to provide risk, trading and portfolio management

NEW YORK, March 8, 2001- SunGard today announced that Milan-based ARCA Asset
Management has selected Panorama and Decalog for integrated trade support,
order management and risk analysis. ARCA will integrate Panorama, SunGard's
real-time cross-asset risk management system, with Decalog, SunGard's front-
and middle-office straight-through processing solution for investment
management activities.

With this single vendor solution, ARCA, with over $35bn assets under
management, will be able to seamlessly manage daily trade flow and activity
and measure market risk and performance across its entire operation.

Filippo Pellizzetti, head of IT at Arca, said, "The Panorama and Decalog
solution from SunGard is a strategic IT and Operations investment for us. A
single vendor solution will enable us to seamlessly manage orders, rebalance
portfolios, measure performance and risk, and gain increased transparency
for all our asset management activities. We especially liked the flexibility
and extensibility of Panorama and the integration capabilities with Decalog
that allow for active portfolio risk management."

ARCA follows other leading asset management companies in Europe-Paris-based
Dexia Asset Management and Rome-based Romagest, the asset management arm of
Banca di Roma-in licensing the integrated Panorama and Decalog solution for
portfolio management, trading, compliance control, performance and risk

Harold Finders, president of the Decalog operating unit and managing
director of SunGard Investment Management Systems, Europe, comments,
"SunGard now focuses on company-wide integration and connectivity. The
contract with ARCA demonstrates our capability to deliver real-time,
connected end-to-end solutions."

Gavin Lavelle, president of the Panorama operating unit of SunGard, said,
"Asset management firms are increasingly recognizing the need for active
risk management as they trade in more volatile markets, using complex
products such as structured derivatives. They concurrently face increased
pressure from institutional investors for robust risk versus return
measurement and management practices. Panorama and Decalog provide a
complete cross-asset, straight-through processing solution for risk and
portfolio management that includes historical and Monte Carlo VaR, real-time
position keeping, portfolio benchmarking such as expected tracking error,
fund of funds management, asset weighting, netting, flow profiles, hedge
prescription, order routing, compliance and performance."