BSG Bisys Grp.

BISYS Alternative Investment Services, a leading global provider of administrative, accounting and tax services for the hedge fund and private equity industry, today announced that it achieved the top spot in the administration category for fund-of-hedge funds services in the Second Annual 2006 Alpha Awards. This award is a result of votes from hedge fund managers rating the level of service they received in various categories by their service provider. Alpha Magazine, part of Institutional Investor, compiled its 2006 Alpha Awards by ranking the top hedge fund service providers based on votes from more than 1,000 hedge fund management firms. The hedge fund firms, from around the world, were asked to rate the quality of service they received from their accountants, fund administrators, lawyers and prime brokers. With the hedge fund industry booming, the Alpha Awards is an excellent benchmark to reveal the firms that are delivering the best service to their clients. �We are delighted to receive this top ranking,� said Bill Neville, president of BISYS Alternative Investment Services. �Quality service is paramount to us and earning this high ranking in the category of administration for fund-of-hedge funds services reinforces our efforts and commitment to our clients. It is especially gratifying that our clients took the time to complete the survey and recognize what we do best. With over $225 billion in assets under administration and approximately 500 clients, we continue to raise the bar for quality service.� About BISYS Alternative Investment Services BISYS Alternative Investment Services is a leading global provider of administrative, accounting, and tax services for the alternative investment industry with over $225 billion in assets under administration. BISYS provides innovative and tailored solutions to approximately 500 clients and over 1,500 funds, including hedge funds, private equity funds, fund-of-funds, and other alternative investment products. BISYS Alternative Investment Services is a division of The BISYS Group, Inc. About BISYS The BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that enable investment firms and insurance companies 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, separately managed accounts, 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. Additional information is available at www.bisys.com. Except for the historical information contained herein, the matters discussed in the press release are forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current reasonable expectations and are subject to certain assumptions, risks, uncertainties and changes in circumstances due to future events as well as changes in economic, competitive, regulatory and/or technological factors affecting BISYS� business, including, without limitation, the ongoing government investigations and litigations involving the company. More detailed information about risk factors that could cause actual results to differ materially are noted in BISYS� periodic filings with the Securities and Exchange Commission. These documents can be accessed on BISYS� website at www.bisys.com under the �Investor Relations� tab. Forward-looking statements are only predictions, not guarantees of performance, and speak only as of the date they are made. BISYS disclaims any obligation to update or amend these statements in light of new information, future events or otherwise. BISYS Alternative Investment Services, a leading global provider of administrative, accounting and tax services for the hedge fund and private equity industry, today announced that it achieved the top spot in the administration category for fund-of-hedge funds services in the Second Annual 2006 Alpha Awards. This award is a result of votes from hedge fund managers rating the level of service they received in various categories by their service provider. Alpha Magazine, part of Institutional Investor, compiled its 2006 Alpha Awards by ranking the top hedge fund service providers based on votes from more than 1,000 hedge fund management firms. The hedge fund firms, from around the world, were asked to rate the quality of service they received from their accountants, fund administrators, lawyers and prime brokers. With the hedge fund industry booming, the Alpha Awards is an excellent benchmark to reveal the firms that are delivering the best service to their clients. "We are delighted to receive this top ranking," said Bill Neville, president of BISYS Alternative Investment Services. "Quality service is paramount to us and earning this high ranking in the category of administration for fund-of-hedge funds services reinforces our efforts and commitment to our clients. It is especially gratifying that our clients took the time to complete the survey and recognize what we do best. With over $225 billion in assets under administration and approximately 500 clients, we continue to raise the bar for quality service." About BISYS Alternative Investment Services BISYS Alternative Investment Services is a leading global provider of administrative, accounting, and tax services for the alternative investment industry with over $225 billion in assets under administration. BISYS provides innovative and tailored solutions to approximately 500 clients and over 1,500 funds, including hedge funds, private equity funds, fund-of-funds, and other alternative investment products. BISYS Alternative Investment Services is a division of The BISYS Group, Inc. About BISYS The BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that enable investment firms and insurance companies 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, separately managed accounts, 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. Additional information is available at www.bisys.com. Except for the historical information contained herein, the matters discussed in the press release are forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current reasonable expectations and are subject to certain assumptions, risks, uncertainties and changes in circumstances due to future events as well as changes in economic, competitive, regulatory and/or technological factors affecting BISYS' business, including, without limitation, the ongoing government investigations and litigations involving the company. More detailed information about risk factors that could cause actual results to differ materially are noted in BISYS' periodic filings with the Securities and Exchange Commission. These documents can be accessed on BISYS' website at www.bisys.com under the "Investor Relations" tab. Forward-looking statements are only predictions, not guarantees of performance, and speak only as of the date they are made. BISYS disclaims any obligation to update or amend these statements in light of new information, future events or otherwise.