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Technological Vision Background & Philosophy Our Team Client & Partners Press Room Contact Us BISYS Launches Wealth Management Systems Mandatory Rollover Solution Franklin Lakes, NJ (October 17, 2005) - Wealth Management Systems Inc. ("WMSI") announced today that BISYS Retirement Services, one of the nation's largest independent retirement plan recordkeepers, has adopted WMSI's Automatic EGTRRA Rollover Solution to process mandatory rollovers for their retirement plan business clients who are not interested in offering a proprietary solution. Under the program, BISYS will provide WMSI with participant indicative data files and WMSI will automate IRA account openings with E*TRADE Securities LLC, the designated IRA provider, and provide a reconciled report of all account activity. Clients that are being serviced by a proprietary mandatory rollover solution will not be affected by this offering. "WMSI offers a no-fee program solution for our clients that significantly streamlines the administrative and enrollment processes for BISYS," said Bob Guillocheau, President, BISYS Retirement Services. "The program is designed to address the fiduciary concerns of our plan sponsors while enabling them to reduce the plan administrative costs and burdens associated with servicing smaller account balances and locating former employees." Leveraging the technology platform of WMSI, BISYS will batch process mandatory rollovers in a completely automated, paperless process. Additionally, WMSI and E*TRADE Securities LLC will process all new accounts within 24 hours of receiving a file, so participants' assets are reinvested as quickly as possible. "We recognize that within the IRA marketplace it is increasingly important for our clients to enhance service offerings for their clients to address various rollover opportunities", said Tom Loch, President of WMSI. "BISYS has been using our Rollover Solutions Network® platform to service voluntary participant rollovers for more than a year. Expanding the offering to include mandatory rollovers enables BISYS to process all rollovers within a cost effective service configuration leaving no rollover behind." About Wealth Management Systems Inc. Wealth Management Systems Inc. (WMSI) is the leading provider of technology based rollover products and services within the retirement industry. WMSI's Rollover Solutions Network® integrates the processing platforms of Third Party Administrators and IRA providers, enabling exiting employees to effect their distributions and open IRA accounts in a single, real time transaction. Financial institutions participating in the network are able to further asset retention initiatives and gain access to a volume distribution network. TPAs and Plan Sponsors are provided with comprehensive distribution and rollover processing services that can significantly reduce administrative burdens and operating costs. And participants gain access to the comprehensive IRA and annuity services they are seeking as they make distribution decisions that will effect their long term financial well being. The Rollover Solutions Network is quickly becoming the industry standard for rollover processing and currently services over 1 million participants through its Call Center and Participant Website applications. WMSI also offers the only complete, fully automated EGTRRA Rollover Solution that satisfies Safe Harbor Provisions and provides for participant notifications and the administration of Plan Sponsor and IRA Provider agreements. Additional information about WMSI and all rollover product solutions is available at www.wealthmsi.com. About BISYS The BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that enable investment firms, insurance companies, and banks to more efficiently serve their customers, grow their businesses, and respond to evolving regulatory requirements. Its Investment Services group provides administration and distribution services for mutual funds, hedge funds, private equity funds, retirement plans and other investment products. Through its Insurance Services group, BISYS is the nation's largest independent wholesale distributor of life insurance and a leading independent wholesale distributor of commercial property/casualty insurance, long-term care, disability, and annuity products. BISYS' Information Services group provides industry-leading information processing, imaging, and asset retention solutions to banks, insurance companies and corporate clients. Headquartered in New York, BISYS generates more than $1 billion in annual revenues worldwide. Additional information is available at http://www.bisys.com. BISYS (NYSE: BSG) - Fund Services • Hedge Fund Services • Private Equity Services • Retirement Services • Life Insurance Services • Commercial Insurance Services • Banking Solutions • Document Solutions • Corporate Financial Solutions Back to Press Room Press Release Archives Looking for a press release? Please select from the archives below: Press Room 2006/2007 Press Room 2005 Press Room 2004 Press Room 2003

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