SunGard Trading and Risk Systems acquires Kronos Software Ltd-Integrated with Infinity, Kronos will provide pre-trade automation and real-time market risk management for enhanced end-to-end, straight-through processing

NEW YORK, March 14, 2002– SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today announced that it has acquired Kronos Software Ltd. to add advanced trading and market risk management functionality to its Infinity solution. The acquisition, the terms of which have not been disclosed, is not expected to have a material impact on SunGard's financial results.

Straight-through processing has traditionally focused on a bank’s internal systems and processes that perform post-trade analysis, processing and settlement. Kronos’ Web-based trading environment will extend Infinity’s straight-through processing capability to include external sources and counterparties, creating a true end-to-end interest rate derivatives trading solution. Users will be able to connect to their counterparties online for price discovery and deal execution. Deals will flow seamlessly through Infinity for post-trade pricing and position keeping, risk management and processing.

Kronos will also add real-time market risk management to Infinity, providing users with a platform for desk-level and enterprise-wide market risk management. Because of the component-based architecture of its market risk management solution, Kronos was awarded "Software Product of the Year” by Risk magazine in 2000. A component-based architecture will enable Infinity to process the very large amounts of data necessary to perform market risk calculations, in real-time.

Amir Khwaja, founder and chief executive officer of Kronos, will be vice president, trading development, for the Credient/Infinity business unit.He will lead the effort to advance SunGard’s risk integration strategy by exploiting the synergies that exist between Kronos and SunGard’s trading and risk solutions including Infinity, Opus and Credient. Mr. Khwaja said, "Having previously worked on both Infinity and Opus, I have great respect for these products. The opportunity to lead software development and integrate the software we have developed at Kronos within the Credient/Infinity business unit, is one that we are very excited about."

Steve Husk, president of the Credient/Infinity operating unit of SunGard, said, "Kronos is an important investment for the future development strategy of the Credient, Infinity and Opus solutions. Through our previously existing partnership with Kronos, we have demonstrated how our clients can benefit from the synergies between Infinity and Kronos. We will aggressively pursue other synergies between our solutions, with a view towards product integration."

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