SS&C Reports Record Q3 Operating Income

Net Income Rises 42% to $3.0 Million or $0.23 per share

WINDSOR, CT - October 16, 2003 - SS&C Technologies, Inc. (Nasdaq:
SSNC) today announced results for the quarter ended September 30,
2003. Revenues were $16.0 million compared with $15.1 million for
the third quarter of 2002. Net income was $3.0 million, or $0.23
diluted earnings per share, compared with $2.1 million, or $0.16
diluted earnings per share, for the third quarter of 2002. The
nine-month revenue numbers were $47.7 million and $46.2 million and
nine-month net income was $8.1 million, or $0.61 per diluted share,
and $4.7 million, or $0.34 per diluted share, for '03 and '02,

"We are pleased to have strong operating results for the 10th
straight quarter," remarked CEO Bill Stone. "Our operating income
increased to $4.6 million, a record high, up 38% over last year's
third quarter and 276% over Q3 '01. Recurring revenues, which
include maintenance and outsourcing revenues, increased to $11.3
million in Q3, a 14% increase over last year. Our recurring revenue
stream continues to improve and we are particularly pleased with our
outsourcing revenue, which now represents approximately 20% of our

"The quality of our earnings can be seen in the impressive cash flow
we generate from operations," said Stone. "We generated $6.7 million
in cash from operations this quarter and year-to-date operating cash
flow is $16.4 million, a 44% increase over 2002. These cash flow
numbers represent $0.51 and $1.24 per diluted share, respectively."

"Currently, we are forecasting Q4 2003 revenues to be in the range
of $16 to $18 million and net income to be between $0.23 and $0.26
per diluted share," stated Stone.

Proposed Acquisition Will Contribute to Recurring Revenues and
Strengthen Hedge Fund Business

"This week we announced the execution of a non-binding agreement to
acquire the fund administration business of Amicorp Fund Services
N.V., a wholly owned subsidiary of Amicorp Holding Ltd. This fund
administration business, based in Curacao, the Netherlands Antilles,
serves the hedge fund community with both on and offshore services.
We are excited about getting deeper into the growing hedge fund
industry. SS&C will operate the fund administration business, to be
renamed SS&C Fund Services, within our Hedge and Family Office
market vertical. We anticipate that this acquisition, which is
subject to the negotiation and execution of a definitive agreement
and the completion of certain regulatory applications, will close in
November 2003. We believe we have premium services to offer the
hedge community and this acquisition will help round out our

Earnings Call

SS&C's Q3 2003 earnings call will take place at 5:00 p.m. Eastern
Time today, October 16, 2003. Interested parties may dial
706-643-7858 (US, Canada and International) and request the "SS&C
Third Quarter Earnings Call", conference ID #3185020. A replay will
be available after 8:00pm until October 31, 2003. To access, dial
706-645-9291 and enter the access code 3185020. A replay of the call
will also be available after October 17, 2003 on our website at

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