Lifetime goes live with DSTi`s Wrap solution

London, 10 May 2005

DST International (DSTi), a leading provider of business solutions for the investment management industry, today announces today that Lifetime Group of Companies (Lifetime) has gone live with the DSTi Wrap solution for investment managers offering Wrap programs or Managed Accounts.

The service comprises of DSTi`s front and middle office investment management solution, AWD - DSTi`s business process management solution, HiPortfolio - DSTi`s portfolio administration and fund accounting solution, and HiWay - DSTi`s data transformation, messaging and internal systems integration solution.

Mike Winn, DSTi`s CEO, said: "DSTi is delighted to be Lifetime`s technology partner for this innovative offering. Lifetime`s Wrap (The Bigger Picture) utilises existing DSTi industry-leading application software together with our proven work management solutions and a bespoke Lifetime front-end to meet the needs of Lifetime, the IFAs and their clients. DSTi believes that Wrap will be an important part of the UK investment community."

Jeremy Bradburne, Lifetime Group`s CEO, says: "There is no doubt that Wrap services are going to play a major part in the future of the UK advisory market. We believe that The Bigger Picture offers a simple, attractive Wrap solution designed firmly with the needs of both client and adviser in mind. Having the skills and experience that DSTi brings, behind our core technology means we can look forward with confidence as the UK Wrap industry develops and our business grows in the future."

Lifetime will offer a range of retail investment products in the UK, designed for the mass affluent customer segment, which will be offered through advisers and distribution groups. They include three `tax wrapper` types of products and one `non-tax-advantaged` wrapper:

* Self-Invested Pension Plan (SIPP)
* Individual Savings Account (ISA)
* Personal Equity Plan (PEP)
* General Investment Account

The system allows investors to subscribe cash and invest in the full range of asset types supported by the Lifetime system, with low lump sum and regular contribution level limits. All four account types will allow both cash and in-specie transfers. The client/advisor will be able to record personal assets other than those mentioned in the three products. The system will record the assets, but not do any calculations based on the assets.

The investor or their adviser can receive consolidated portfolio reports across all their investment funds and products via the external information and enquiry system.

DST International (DSTi)

With 16 offices and over 1300 professionals to support its growing client base, DST International provides a unique and comprehensive range of investment management and business process management software solutions and related services to 600 clients in 55 countries. http://www.dstinternational.com.

DST Systems, Inc

Our parent company, DST Systems, provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organised domestically and internationally into three operating segments: Financial Services, Customer Management and Output Solutions. DST operates one of the most advanced data centres in the world, which provides information-processing services to support the products within each operating segment. These products are further enhanced through the integration of DST`s advanced technology and e-commerce solutions.

Lifetime Group

The Lifetime Group`s wrap proposition - The Bigger Picture - will provide a consolidated investment and asset management service enabling effective asset allocation and fund selection. Available to investors exclusively through financial advisers, it will allow them to access a consolidated view of their assets and liabilities through a single Web site, thereby creating an overall wealth picture and giving them a new way of managing their money.

The Bigger Picture is powered by technology from DST International (DSTi), a leading global provider of software to financial institutions and the largest processor of mutual funds in the world. This gives Lifetime a proven technology solution which is both scaleable and robust and is already responsible for the administration of billions of dollars of client assets around the world.

The Lifetime Group was formed in 2002 to develop a new kind of financial advisory solution for the UK market and is headquartered in Cambridge.

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