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To: j.oil who wrote (2541)	9/30/1999 5:55:00 PM
From: Mstrego	Respond to of 3086

--PUBLICITY NEWS---- PRINCETON FINANCIAL SYSTEMS JOINS THE ASP INDUSTRY CONSORTIUM PRINCETON, N.J., Sep 30, 1999 /PRNewswire via COMTEX/ -- Princeton Financial Systems, provider of the PAM(R) family of investment management systems, has joined the rapidly growing Application Service Provider (ASP) Industry Consortium. The consortium is an international advocacy group dedicated to fostering greater understanding of and guidelines for the fast-emerging Application Service Provider segment of the software industry. ASPs provide software applications to multiple organizations from a centralized data center via the Internet or other wide area networks. The ASP delivers fully supported "software on demand" to any desktop, without the overhead associated with installing and maintaining the application in-house. ASPs are responsible for providing and maintaining the application, operating the data center, installing hardware and software upgrades, guaranteeing adequate system resources (memory, disk space, etc.), performing backups, and providing disaster recovery. This enables firms to concentrate on their core business rather than on supporting applications software. Princeton Financial Systems is taking a lead role in the ASP movement by being the first investment management system vendor to join the ASP Industry Consortium. The firm also offers its own ASP option called PAMConnect(TM), which allows institutional investors to utilize Princeton Financial's PAM(R) investment management applications on an outsourced basis. The Massachusetts-based ASP Industry Consortium has grown quickly since it was launched last May at Networld+Interop in Las Vegas. Founded with 25 original members, the group has grown to more than 130 firms. The consortium will sponsor research, foster standards and work to educate the marketplace about the benefits of the evolving ASP delivery model. "By offering PAMConnect, we have given our clients full access to a world recognized investment system without the worries associated with securing and maintaining the infrastructure needed to support such a system," says Jim Houghton, Princeton Financial Systems' Senior Vice President of Product Management. "We have joined the ASP Consortium to reinforce our commitment to become the leading application service provider to the investment management community." The founding members of the ASP Industry Consortium include AT&T; AristaSoft; Boundless Technologies; Cisco Systems; Citrix Systems; Compaq Computer; Cylex Systems; Ernst & Young; Exodus Communications; FutureLink Distribution; GTE; Great Plains Software; IBM; Interpath Communications; JAWS Technologies; Marimba; Onyx Software; SaskTel; Sharp Electronics; Sun Microsystems; The Taylor Group; Telecomputing ASA; UUNET; Verio, and Wyse Technology. Princeton Financial Systems, Inc., an independent subsidiary of State Street, is the leading provider of n-tier Windows NT-based portfolio accounting and management systems for institutional investors worldwide. Its PAM investment systems are used by more than 300 investment managers, mutual funds, insurance companies, pension funds, and banks. The company is headquartered in Princeton, NJ, USA with offices throughout the United States and in London, Sydney, Toronto, Brussels, and Frankfurt. More information about Princeton Financial Systems can be found on the Internet at pfs.com. Information on the ASP Industry Consortium is available on the World Wide Web at aspindustry.org. SOURCE Princeton Financial Systems (C) 1999 PR Newswire. All rights reserved. prnewswire.com