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Yorkshire Building Society Selects SunGard For Basel II Capital Management

London, UK– November 2, 2005– SunGard today announced that UK-based Yorkshire Building Society (YBS) is extending its relationship with SunGard with the selection of SunGard’s Basel II Capital Manager for retail, wholesale and securitization credit risk and capital reporting. The solution will be used to model the impact of business decisions on risk capital as well as to perform regulatory reporting. Basel II Capital Manager is a modeling and analysis solution that helps financial institutions meet compliance requirements and develop risk-sensitive approaches for managing economic capital.

Basel II Capital Manager will help YBS to achieve compliance and accreditation for the Basel II Internal Ratings Based (IRB) approach for capital calculations, helping it to free capital that it currently must set aside under existing regulations. YBS will use the drill down and multi-level data manipulation capabilities of Basel II Capital Manager to enhance risk analytics and help identify areas where capital could be used more efficiently.

The Capital Manager will also help YBS to fulfill both regulatory and internal management information requirements by acting as a data repository for reporting purposes. The solution helps provide data transparency, increased automation, and includes a full audit trail and tracking mechanism.

Tim Brooke, head of group audit and risk at YBS, said, "We expect to achieve incremental benefits with SunGard’s Basel II Capital Manager, which will help us to meet regulatory requirements, improve capital effectiveness and enhance risk information in support of the Society’s chosen strategy. We selected SunGard because of its demonstrated reliability - we also use BancWare ALM for interest rate risk management and Reech FastVal for independent valuations of our structured derivatives portfolio. We also liked many of the features of the Basel II solution, such as the audit and control functions, data transparency and risk-sensitive approaches for managing regulatory and economic capital. We are confident in SunGard’s ability to provide a leading solution for Basel II as it has successfully completed implementation of Basel II Capital Manager for a number of leading financial institutions in the UK."

Richard Reeves, managing director of SunGard's Basel II Capital Manager business unit, said, "Having completed a number of implementations for Basel II, we are taking a partnership approach to helping our customers meet regulatory and internal requirements for capital management and reporting. We can help them avoid common pitfalls and develop best-practice credit risk and capital management frameworks by providing a combination of real-world experience and the latest academic thinking."