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SunGard’s Panorama to Help Swiss Federal Treasury Improve Straight-through Processing

NEW YORK, October 18, 2004– SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today announced that the Swiss Federal Treasury has elected to upgrade to SunGard’s Panorama for straight-through trading, risk management and back-office processing and reporting. Panorama will support a wide range of asset classes and their derivatives at Swiss Federal Treasury.

The Swiss Federal Treasury is responsible for asset & liability management of the Swiss Confederation, including the issuance of government bonds, balance sheet management and derivative valuation, investment management including long-term investments, and special projects and assignments. Panorama’s flexibility is important to Swiss Federal Treasury in its ability to provide customized reporting, pricing of a wide range of instruments including money market and fixed income products and their derivatives, and the scalability to implement future needs such as coping with new accounting standards or making direct payments. The Swiss Federal Treasury will link Panorama to its SunGard solution for asset and liability management, for an end-to-end, straight-through trading and risk management platform.

Felix Senn, head of Swiss Federal Treasury, said, "We decided to upgrade to Panorama to help us to remain highly efficient and competitive as we cope with extended tasks now and in the future. SunGard understood our specific requirements based on 10 years of close co-operation. We value SunGard’s experience in our specific business and SunGard’s strong presence in Switzerland."

Steve Husk, president of SunGard’s Trading and Risk operating unit, said, "Panorama forms part of SunGard Adaptiv, which provides customers with an easy migration path for new functionality and growth. Adaptiv provides real-time, straight-through trading, portfolio analysis, risk management and back-office processing. Because it is based on a modular technology approach, it helps customers to streamline trading and risk management operations and benefit from lower implementation, upgrade and migration costs."