The BISYS Group, Inc.

Roseland, NJ - A class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of The BISYS Group between October 23, 2000 and May 17, 2004. The lawsuit was filed in the US District Court for the Southern District of New York against the leading provider of outsourcing solutions for the financial services sector alleging securities fraud. BISYS has not admitted any wrongdoing, but has reached an agreement in principle to settle the class action for $66.5 million in cash. (Oct-16-06) [BUSINESS WIRE: BISYS SECURITIES]