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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: still learning who wrote (1502)	7/13/1998 9:38:00 PM
From: Sheldon C.	Read Replies (1) \| Respond to of 4467

Anyone interested in this PR from Sanchez. It would seem like a pretty big deal. Sheldon Subj: Sanchez Computer Associates Signs Licensing Agreement... Date: 98-07-13 10:48:05 EDT From: AOL News BCC: Bigkid53 Sanchez Computer Associates Signs Licensing Agreement With Sumitomo Bank, a Top-10 Global Financial Institution MALVERN, Pa., July 13 /PRNewswire/ -- Sanchez Computer Associates, Inc. (Nasdaq: SCAI) today announced that The Sumitomo Bank, Ltd., with assets of $426 billion, has selected PROFILE(R)/Anyware and PROFILE for Windows as the systems to replace its core legacy deposit system for International Banking Operations. The bank, among the top-10 financial institutions in the world, has chosen the two Sanchez software products to perform its corporate deposit processing. PROFILE/Anyware, a core processing system, and PROFILE for Windows, a graphical user interface system, will initially be implemented in New York before rolling out to other North American, European and Asian operations. "PROFILE's depth and breadth of functionality were key factors in our selection of the Sanchez core processing system," said Sumitomo Bank CIO Peter McCormick. "By selecting PROFILE to replace its legacy system, Sumitomo Bank has recognized the need for global financial institutions today to implement a flexible core processing system with an open architecture, allowing for the creation of a variety of products which provide value in an increasingly competitive market," said Sanchez Computer Associates Chairman Michael A. Sanchez. "This initiative by Sumitomo is part of an overall strategy to increase capabilities and reduce costs by providing a standardized global technology platform." The Sumitomo Bank, Ltd. is a full-service financial institution with an extensive branch network and offices throughout Japan and abroad. The bank has operated at the leading edge of finance for more than a century. Based in Malvern, Pennsylvania, with offices in Warsaw, Prague, Jakarta and Chester (U.K.), Sanchez Computer Associates, Inc. is a market leader in providing integrated software solutions and services for financial institutions worldwide. Its principal product is PROFILE/Anyware, a highly flexible, multi-currency, loans, deposits and branch system which also supports emerging delivery channel technologies. This centralized system also includes the integrated module PROFILE/FMS (Financial Management System), a multi-company, multi-currency, cost center-based accounting system; and PROFILE for Windows, a graphical user interface branch system. For more information, visit Sanchez on the Web at sanchez.com or send e-mail to profile@sanchez.com. Sanchez is a Safeguard Scientifics, Inc. (NYSE: SFE) partnership company. This news release contains forward-looking statements, including statements of the company's sales and marketing expectations for 1998, that involve risks and uncertainties affected by the course of business in the financial services industry, intense competition among software companies serving that industry, the timing of new contract closings and significant events of revenue recognition which may impact the Company's quarterly results, the Company's ability to develop new functionality and other risks detailed in the Company's Form 10-K for 1997, filed with the SEC on March 30, 1998. PROFILE is a registered trademark and PROFILE/Anyware, PROFILE/FMS (Financial Management System) and PROFILE for Windows are trademarks of Sanchez Computer Associates, Inc. All other company and product names may be trademarks of the respective companies with which they are associated. SOURCE Sanchez Computer Associates CO: Sanchez Computer Associates; Sumitomo Bank, Ltd. ST: Pennsylvania IN: CPR FIN SU: LIC CON 07/13/98 10:42 EDT prnewswire.com