On 11 October 2004, Summit Systems announced that it had been selected by BayernLB to provide a global system that will handle all instruments from trade entry through to settlement. The depth and breadth of Summit would allow BayernLB to replace over 16 existing systems used in various areas and locations of the Bank.

It should be noted that this contract was awarded to Summit towards the start of the current calendar year, although permission was only recently granted for substantive disclosure on the nature of the contract with the details being subsequently announced at the SIBOS banking event in Atlanta, US.

With the award and substantial completion of this contract in the Misys PLC fiscal year ended 31 May 2004, investment analysts should assume that the majority of revenue receivable from this contract was recognised in the period to 31 May 2004 and the corresponding ILF order book at 31 May 2004 in respect of this contract was negligible. The award of this contract was referred to in the Misys PLC trading update on 18 June 2004.

Andrew Farmer, Head of Investor Relations, Misys plc
Tel: +44 (0) 20 7368 2307
Mob: +44 (0) 7909 895 094

Susan Cottam, Group Communications Director, Misys plc
Tel: +44 (0) 20 7368 2305
Mob: +44 (0) 7957 807 721