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SEI Investments selects MEGACOR

Paris, 1st September, 2004 - Vermeg, the specialist Securities Processing and Fund Management software provider, confirmed today that SEI Investments (Nasdaq: SEIC), the wealth services provider, has chosen Vermeg’s MEGACOR system as its corporate actions module for SEI’s new Global Wealth Management Platform.

SEI’s unique Wealth Management Service is designed to support the end to end needs of private banks, combining the front office client management with investment execution in the middle to full client accounting and custody in the back office. The new Global Wealth Management Platform will combine front office and back office capabilities in a way that is unmatched by any other provider.

Francis Jackson, Managing Director of SEI’s Global Wealth Management business and Investment Processing Project Director said:
"MEGACOR is a state of the art system which provides us with a world class corporate actions capability. This, coupled with Vermeg’s partnership approach to development for a global market, will enable us to develop the world’s leading private wealth services platform"

Badreddine Ouali, founder and CEO of Vermeg, added:
"We are delighted that SEI has chosen Vermeg's MEGACOR for such an important component of its new platform. SEI becomes the first MEGACOR client in the United States. SEI's choice underlines that the MEGACOR solution is particularly well-suited to the needs of outsourcing institutions, which require robust multi entity and multi currency capabilities when automating their corporate actions processing."