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Margaret Kirch Cohenmargaret.cohen@morningstar.com
BISYS Selects Morningstar Associates as Online Advice Provider

CHICAGO, Jul 09, 2002 – BISYS® Group, Inc., a leading national provider of business process outsourcing solutions for the financial services sector, has selected Morningstar Associates, LLC, as its online retirement advice provider for its recordkeeping clients. As part of the agreement, BISYS will make the research, education, investment guidance, and advice modules of Morningstar® ClearFuture® available to its Retirement Services clients. BISYS currently supports approximately 15,000 company-sponsored retirement plans serving roughly 1.3 million participants. Morningstar ClearFuture is currently available to nearly 27,000 corporate retirement plans throughout the United States.

"We are thrilled to join BISYS, one of the leading recordkeepers in the retirement marketplace, in making sophisticated investment advice more accessible to its clients," said John Rekenthaler, president of Morningstar Associates, LLC. "BISYS is well known for using cutting-edge technology to create solutions for plan sponsors, so the online version of Morningstar ClearFuture is ideally suited to meet its needs." 

Christopher Guarino, president of BISYS' Retirement Services, said, "We are very excited about the opportunity to collaborate with Morningstar. With the recent increased interest in retirement investment advice and Morningstar's brand identity in the industry, our relationship provides an excellent opportunity for BISYS to better service our clients and their plan participants."

Morningstar ClearFuture offers online investment education, research, guidance, and advice services for all levels of investors. ClearFuture gathers detailed financial information from participants to provide investment suggestions for their retirement plans. Basing its analysis on both retirement and nonretirement assets, ClearFuture offers participants such tools as personalized goal planning, retirement income analysis based on enhanced simulations, and an innovative "bear market simulator" that tests risk tolerance.

About Morningstar Associates, LLC 
The Morningstar® ClearFuture® retirement advice program is provided by Morningstar Associates, LLC, a registered investment adviser and a wholly owned subsidiary of Chicago-based Morningstar, Inc., a global investment research firm. The financial data and methodology used in ClearFuture are proprietary to Morningstar, Inc., and/or Morningstar Associates, LLC. 

About BISYS' Retirement Services
BISYS is a leading provider of retirement services, providing plan administration services to approximately 15,000 retirement plans with approximately 1.3 million participants. BISYS also provides a turnkey administration and recordkeeping solution for Individual(k) plans, supports approximately 400,000 employers and 4 million IRA holders with ERISA documents and ancillary services, and trains approximately 12,000 industry professionals annually. 

About BISYS
The BISYS Group, Inc. (NYSE: BSG), headquartered in New York City, provides business process outsourcing solutions that enable investment firms, insurance companies, and banks to capitalize on convergence by entering new segments of the financial services industry. BISYS currently supports more than 20,000 domestic and international financial institutions and corporate clients through three business units. Its Investment Services group provides administration and distribution services for more than 350 clients, representing approximately 1,800 mutual funds, hedge funds, private equity funds, and other alternative investment products with more than $560 billion in assets. BISYS' largest group also provides retirement services to approximately 15,000 companies in partnership with 36 of the nation's leading banks and investment management companies, and offers analytical research and competitive intelligence through its Financial Research Corporation (FRC) subsidiary. Through its Insurance and Education Services group, BISYS is the nation's leading independent distributor of life insurance and the premier provider of the support services required to sell traditional and variable life, annuity, long-term care, and disability insurance products. BISYS' fastest growing group also offers more than 250 certification and continuing education training courses for insurance and investment professionals and provides a sophisticated suite of licensing-related products and services. BISYS' Information Services group provides information processing and imaging solutions to more than 1,150 financial institutions, and asset retention solutions to more than 120 insurance companies. Additional information is available at www.bisys.com.

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