HBOS PLC SELECTS FRS FOR INTEGRATED UK REGULATORY REPORTING-- FRS FinancialAnalytics provides leading UK Bank with a centralized andconsolidated platform for regulatory compliance --

London, 29th April 2004, FRS, a global leader in regulatory reporting and financial analytics solutions and a business unit of S1 Corporation (Nasdaq:
SONE), today announced that its FRS FinancialAnalytics solution has been
licensed by HBOS plc to streamline their UK central bank regulatory reporting requirements covering the new Profit & Loss (PL) and Effective Rates (ER) reports. With assets of over £380 billion, HBOS is the UK's largest mortgage and savings provider as well as a major player in the provision of new current accounts and credit cards in the UK.

This agreement enables deployment of FRS's award-winning regulatory and financial analytics product, FinancialAnalytics, by April 2004. FRS FinancialAnalytics will automate the bank's regulatory compliance reporting requirements and help to ensure the accuracy and integrity of the bank's financial reports while increasing the overall efficiency of reporting.

Chris Armstrong, Head of Group Finance Systems at HBOS plc said, "After looking at all our options, FRS was clearly the best solution for HBOS to meet the Bank of England PL and ER reporting requirements. We believe that FinancialAnalytics will provide significant benefits to our organisation now and in the future."

Alain Tayenne, General Manager, at FRS added, "We are delighted that HBOS has selected FRS. HBOS joins a growing list of leading banks that have selected FRS to provide a consistent and consolidated foundation to deliver regulatory reporting on a regional or global basis. HBOS views us as a long-term partner that will help them through the ongoing challenge of regulatory change."

For more information please contact:
Emma Connolly
Tel: +32 (0)2 200 4410

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