Hull, White and SunGard Join Efforts in Advanced Credit Derivatives Modelling

London, 6 June 2005, SunGard (NYSE:SDS) today announced that its Reech
business unit will collaborate with two of the world's leading experts on
credit derivatives. Professors John Hull and Alan White, authors of
Hull-White on Derivatives, arguably the leading text in its field, will be
partnering with SunGard's Reech to develop a new suite of pricing models for
advanced credit derivatives.

The solution will be based on the Hull & White CDO double-t copula pricing
model, developed from their extensive research in this field. It will be
integrated into SunGard's Reech REAL (Reech Analytics Library) and Reech
FastVal, an ASP solution for independent derivative valuations. Complex
analytics and valuations in structured credit derivatives come at a time when
the credit market has become extremely active and when most market players in
investment banks or hedge funds are placing increased focus on managing risk.

Alan White commented on the collaboration, "We are very pleased to be able to
offer our expertise to support the development of SunGard's Reech credit
derivatives solution. Reech has a very strong reputation in providing
sophisticated technology for the valuation of complex structured products and
this tool, addressing the demand for accurate pricing of CDOs, will
complement their existing suite of solutions."

Christophe Reech, president of SunGard's Reech business unit, added, "We are
very honoured to collaborate with John Hull and Alan White to support the
development of our REAL advanced credit derivatives suite. We felt that this
was a timely moment to enhance our range of products and to respond to the
market's growing demand for an advanced credit derivatives tool. We look
forward to a continuing collaboration with Professors Hull and White to
support our customers' requirements in this complex area of analytics."

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