CKFR Checkfree Corp (MM)

Satyam Selected by CheckFree as Preferred Partner for Multi-Year Industry Leading Initiative HYDERABAD, India, Nov. 16 /PRNewswire-FirstCall/ -- Satyam Computer Services (NYSE:SAY) announced today that they have been selected by CheckFree Investment Services (CIS), under a multi-year services agreement to become the preferred information technology partner to CIS in the development of its next generation CheckFree EPL(TM) platform. CIS is the recognized leading provider of a broad range of portfolio management services to help more than 275 financial institutions, including broker dealers, money managers and investment advisors, deliver portfolio management, performance measurement and reporting services to their clients, primarily for processing separately managed accounts (SMAs). As of September 30, 2004, CIS clients used CheckFree APL to manage more than US $1 trillion in assets, serving approximately 80 of the top Wall Street (sponsor) firms. Satyam will work with CheckFree to enhance CheckFree EPL's value proposition to the SMA marketplace. As reported, at the November 2003 Money Management Institute meeting, the SMA industry is projected to grow to $4 trillion by 2007. To support that growth, CheckFree has committed to its clients to help streamline their operations and reduce costs. Alex Marasco, Executive Vice President and General Manager, CheckFree Investment Services, said; "We did an analysis of organizations that have truly strong technical and domain competencies to find a development partner with both the knowledge and resources available to meet our aggressive timeline to bring the next generation platform to market. Satyam clearly stood out among the vendors for their expertise and their commitment to developing a platform that can support and expand with the SMA industry." CheckFree EPL will be the next evolution of CheckFree's APL(TM) Portfolio Accounting System, a real-time portfolio management system used by brokerage firms, banks, Turn Key Asset Management Providers (TAMPS), insurance companies and money management firms. This scalable, high-volume portfolio analysis and trade modeling processing system is used in the separately managed accounts (SMA) industry, where CheckFree APL serves as the conduit between program sponsors (e.g., brokerage firms) and investment managers in the fee-based market. Speaking on this win, Mr. Ram Mynampati, President -- Commercial & Healthcare business of Satyam, said: "It's a landmark achievement for Satyam as it reflects the depth of our financial services domain competency and our industry leading technology competencies specific to the Capital Markets Industry. CheckFree is a highly regarded and recognized name in the Investment Management industry; winning this prestigious assignment has clearly placed Satyam in a leadership slot in this Industry. We look forward to the unique opportunity of serving CheckFree and their clients through this industry leading initiative." About CheckFree Corporation Founded in 1981, CheckFree Corporation (NASDAQ:CKFR) provides financial electronic commerce services and products to organizations around the world. CheckFree Electronic Commerce solutions enable thousands of financial services providers and billers to offer their customers the convenience of receiving and paying their household bills online or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to thousands of financial services organizations, which manage more than $1 trillion assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two-thirds of the 10 billion Automated Clearing House transactions in the United States. The division also provides global trade processing, reconciliation, financial messaging, compliance and electronic billing and statement software to thousands of organizations across the globe. About Satyam: Satyam Computer Services Ltd. (NYSE: "SAY") is a leading global consulting and IT services company, offering a wide array of solutions customized for a range of key verticals and horizontals. From strategy consulting right through to implementing IT solutions for customers, Satyam straddles the entire IT space. It has excellent domain competencies in verticals such as Automotive, Banking & Financial Service, Insurance & Healthcare, Manufacturing, Telecom-Infrastructure-Media-Entertainment-Semiconductors (TIMES). As a diverse end-to-end IT solutions provider, Satyam offers a range of expertise aimed at helping customers re-engineer and re-invent their businesses to compete successfully in an ever-changing marketplace. Satyam's network spans 45 countries, across 6 continents. Over 16,800 dedicated and highly skilled IT professionals, work in development centers in India, the USA, the UK, the UAE, Canada, Singapore, Malaysia, China, Japan and Australia, and serve over 350 global companies, including over 109 Fortune 500 corporations. For more information visit us at: http://www.satyam.com/. For clarifications write to us at Or contact our PR Agency at: US Ivette Almeida, , +1 212 983 1702 ext. 209 India Rajesh G, , +91 40 55319862, +91 9849042184 Europe Meigan Terry, , +44 0 207 973 5969 Asia-Pacific Norkiah Natassia Noor, , +65 6737 4844, +65 9735 9439 SafeHarbor: This press release contains forward-looking statements within the meaning of section 27A of Securities Act of 1933, as amended and section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Satyam undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with our business, please see the discussions under the heading "Risk Factors" in our report on Form 6K concerning the fiscal quarter ended September 30, 2004 furnished to the United States Securities Exchange Commission on November 12, 2004 and the other reports filed with the Securities Exchange Commission from time to time. These filings are available at http://www.sec.gov/. Certain of CheckFree's statements in this press release are not purely historical, and as such are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management's intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in CheckFree's business, and other risks and uncertainties detailed from time to time in CheckFree's periodic reports filed with the Securities and Exchange Commission, including CheckFree's Annual Report on Form 10-K for the year ended June 30, 2004 (filed September 3, 2004) and Form 10-Q for the quarter ended September 30, 2004 (filed November 9, 2004). One or more of these factors have affected, and could in the future affect CheckFree's business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this press release will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by CheckFree, or any other person, that the objectives and plans of CheckFree will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and CheckFree assumes no obligation to update any forward-looking statements. DATASOURCE: Satyam Computer Services CONTACT: Ivette Almeida for US, , +1-212-983-1702 ext. 209, or Rajesh G for India, , +91-40-55319862, +91-9849042184, or Meigan Terry for Europe, , +44-0-207-973-5969, Norkiah Natassia Noor for Asia-Pacific, , +65-6737-4844, +65-9735-9439, all for Satyam Computer Services Public Relations Web site: http://www.satyam.com/

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