TwinFields Capital Management Selects SunGard's Panorama as a Growth Platform for Trading and Risk Management . Panorama to provide desk-level and enterprise-wide risk analytics and real-time portfolio management

NEW YORK, August 10, 2004– SunGard Trading and Risk Systems, an operating group of SunGard (NYSE:SDS), today announced that TwinFields Capital Management, LLC, a new hedge fund based in Greenwich, Connecticut, has selected Panorama as its trading and risk management infrastructure. TwinFields will use Panorama for desk-level risk analytics, sensitivities, scenario analysis and stress tests, along with simulation-based Value-at-Risk across the enterprise. Panorama will help TwinFields to attract outside investment by providing a real-time portfolio management and risk infrastructure that can support its multi-strategy, cross-asset and multi-currency trading environment, and be scaled in line with its business.

Joseph Niciforo, chairman of TwinFields, was a partner and managing director for fixed income at Tudor Investment Corp, one of world’s largest hedge funds and a strategic partner and investor in TwinFields. Of the selection of Panorama Mr. Niciforo said, "We selected Panorama as the trading and risk management platform for TwinFields because of its ability to readily support our planned growth in terms of assets under management, diversified trading activity and expansion into other regions. The ability to implement the infrastructure in-house was also important. We especially wanted to implement a robust, comprehensive and proven solution prior to launching the new fund, in order to provide our institutional investors with confidence in our trading and risk management capability and attract additional capital."

Panorama will support a variety of OTC and exchange traded products at TwinFields. Traders will use Panorama for real-time portfolio information, such as P&L and sensitivities, in order to manage their positions in real-time. Panorama will also allow risk managers to monitor risk parameters in real-time. Panorama is part of SunGard Adaptiv, which provides straight-through processing and integrated risk management.

Steve Husk, president of SunGard’s Trading and Risk operating unit, said, "New hedge funds are recognizing the value of implementing a robust and scaleable portfolio and risk management infrastructure as early as possible, in order to help them to manage the growth of their business and attract institutional investment. Panorama provides these customers with a growth infrastructure that supports multiple trading strategies and asset classes."

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