Ruffer Investment Management Selects SunGard's ePAL

LONDON, April 30, 2003 - SunGard Investment Management Systems, an operating
group of SunGard (NYSE: SDS), today announced that Ruffer Investment
Management Limited, an established UK private client fund manager, has selected ePAL, SunGard's ASP based private client investment management solution. ePAL is a comprehensive, front-to-back investment, accounting and reporting service for managers of private clients. SunGard Investment Management Systems is a leading international provider of investment management software solutions for the front-, middle- and back-office activities of global asset management firms.

Ruffer, which specialises in the management of investments for private clients, trusts and charities, will use ePAL to enhance its discretionary investment service with a high level of quality reporting, via the Web. Ruffer has also subscribed to SunGard's Portfolio Internet Managed Service (PIMS). This secure managed service will allow Ruffer's clients direct access to their portfolio via the Internet. The service is fully secure with client password and unique user identification. ePal and PIMS can run independently or as an integrated service delivering a strategic private client investment management solution.

Viscount Tamworth, managing director of Ruffer Investment Management Limited, commented, "The need to have a fully integrated and reliable portfolio administration system for us is paramount. In addition, it needs to be flexible to meet our own and our clients' changing needs. Excellence in the provision of administration of client portfolios is a prerequisite, and the ability to work with the service provider is also important. We believe that we have found this in SunGard."

John Munro, president of ePAL at SunGard Investment Management Systems, added, "We are delighted to have added Ruffer to our client portfolio. SunGard and Ruffer have already established a solid working relationship. This has enabled Ruffer to migrate on schedule to the new SunGard services. We look forward to developing further both our relationship and services with Ruffer."

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