WestLB AG Signs Multiple Outsourcing Contracts with ADP

New York, NY – September 30, 2002 – ADP Brokerage Services Group (ADP), a division of Automatic Data Processing, Inc. (NYSE: ADP), announced today that WestLB AG signed multi-year outsourcing contracts for several of ADP's solutions world-wide.

WestLB AG, one of the largest credit institutions in Germany, recently signed a long-term outsourcing agreement to use ADP/OMR's TradeThru ASP solution for their treasury processing in London with future plans to roll out to multiple sites. It will use TradeThru to process foreign exchange and money market transactions. TradeThru is a multi-product, multi-entity, and multi-currency straight through trade processing solution for treasury and derivatives products. The application is scaleable and customizable with an open API structure for interfacing.

TradeThru delivers fully automated front to back office functions throughout the lifecycle of a trade, starting with fast and flexible deal capture, portfolio and risk management functions, all the way through to trade processing, confirmation, and settlement. Available as a license or an outsourcing solution, TradeThru is used by many of the world’s top financial firms.

WestLB AG also signed a long-term agreement to use the GlossSM system from ADP's Wilco International subsidiary on an outsourcing basis to process international debt instruments including fixed income and repo. The repo aspect includes repos, buy sell-backs, and stock lending. Gloss processing will handle the trade lifecycle from trade capture and enrichment, confirmation, position management, P&L, through to settlement and accounting.

To ensure control of STP workflow and minimize operational risk, WestLB AG will use STP Explorer, Wilco's real-time exception management system. STP Explorer proactively alerts users to business exceptions and provides users with tools for dynamic investigation, repair and resubmission of transactions. Wilco is also providing two-way real-time market interfaces to Euroclear, TRAX and SWIFT, as well as connectivity to WestLB AG's funding systems, German regulatory reporting and corporate general ledger.

Dieter Muckelmann, Executive Director, Group Information Management, WestLB AG, Düsseldorf, commenting on the contracts, said, "We chose ADP's solutions on a global basis because ADP is a well-established organization with a proven track record in the transaction processing services industry. Stability is very important to us and ADP has been a financially sound company for more than 50 years."

WestLB AG currently employs ICI/ADP's impact solution to process fixed income in North America. WestLB AG is a long-time client of ADP's Brokerage Processing Services (BPS) service bureau solution for its North American equities processing. It is also using the ADP Investor Communication Services division to handle its confirmations, statement distribution, and prospectus delivery as well as proxy and reorg solutions.

In talking about WestLB AG's partnership with ADP, Lawrence McLaughlin, Managing Director Back Office for WestLB AG, in London said, "ADP is an excellent global outsourcing company with solutions that use the latest technology. Because of the job they do, we are able to focus on our stated goal of concentrating on our core business while ADP handles the transaction processing and investor communications. They are truly a one stop shopping solution."

"We are delighted that WestLB AG has truly become a global ADP partner," said John Hogan, co-President, ADP Brokerage Services Group. "We are proud to be able to meet their transaction processing needs on a global outsourcing basis," continued Hogan.

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