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ADP Brokerage Launches New Automated Corporate Actions Solution

New York, NY - June 7, 2004 - ADP Brokerage Services Group (ADP), a division of Automatic Data Processing, Inc. (NYSE: ADP), announced today the launch of its new corporate actions system. This system is fully integrated with ADP's Brokerage Processing Services (BPS) securities processing system to streamline the back-office operation.

This new browser-based corporate actions system, built in partnership with the XcitekSolutionsPlus XSP(tm) application, maximizes operational efficiency through the use of a rules-based, data-scrubbing engine with built-in exception handling functionality. The scrubbing engine receives announcement files from multiple vendors and automatically compares them, identifies and validates exceptions and publishes announcements to BPS.

On the new graphical user interface, exceptions are automatically allocated to and prioritized for the individual user, and managers will receive an overall view of exceptions and their statuses, with tools to manage the STP workflow.

Since the XSP system is integrated with BPS, all data required for corporate actions processing is held and maintained on the BPS engine, which updates the corporate actions system in real-time.

This system enables financial consultants to enter shareholder elections on voluntary reorganizations using the browser-based branch access system. Sales personnel are able to see all shareholder accounts that hold the position as well as summaries of those that have and have not made elections. The salesperson also has inquiry access to the mandatory reorgs that affect their accounts. The elections entered in branch access are posted directly to BPS for booking.

The corporate actions system is also integrated with ADP's Investor Communication Services (ICS) to streamline mailings to shareholders with securities involved in voluntary corporate actions. These mailings can be either hard copy or electronic depending upon the desire of the shareholder. Mailings in both media provide a web link through which the shareholder can easily make their own elections. Brokers have the option of posting customer-made elections directly into the back office or into a queue for internal review and approval.

Speaking about the announcement of the new corporate actions system, Marianne Brown, Senior Vice President and General Manager of ADP's Brokerage Processing Services comments, "The production launch of this system represents another important step forward in ADP's overall strategy to provide complete STP capabilities to our clients in all areas of brokerage processing. With the addition of these new products to ADP's overall product suite, the STP functionality that we provide to clients in the arena of corporate actions processing has advanced tremendously."

Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus says, "We are extremely pleased that ADP chose XSP as part of its business strategy to facilitate STP among its brokerage group for corporate actions processing. As an industry leader, ADP demands superior performance from a stable and committed provider to efficiently run and support its operations 24/7. XcitekSolutionsPlus has the expertise and resources to deliver a robust solution to maximize ADP's operational efficiency."