Simplex and Steria in Agreement to Launch Swift UK Service Bureau

This strategic alliance uniquely positions the two companies to capture the significant growth in the SWIFT user base which will follow the introduction of SWIFTNet and new services such as FileAct and InterAct. As part of the agreement, Sterci, Sterias wholly-owned software subsidiary, will provide its applications set which already serves more than 100 top tier financial institutions worldwide. The combined products and services of all three businesses will allow the Simplex Steria SWIFT Service Bureau to launch with a strong offering from day one, to be quickly followed by a full complement of products and services. It is envisaged that, subject to SWIFT Board approval in December 2003, the Bureau will officially launch at the beginning of January 2004 with three product offerings: Standard Bureau Services (SBS), which will be targeted at small and medium-sized financial institutions and large corporates and will provide a range of value-added transactional services, Member Administered Closed User Groups (MACUGS), catering to the major financial institutions and their key corporate clients, and Disaster Recovery Services (DRS), targeted at existing SWIFT users. Stercis STEFORM, STELINK and STEMATCH will form the basis of a complete solutions package which will also include connectivity software, enquiries and investigations and automated repair.