To: Jenna who wrote (37763 ) 5/3/1999 9:07:00 AM From: Teri Garner Respond to of 120523
SONE news w/HP & Anderson Consulting: Monday May 3, 8:27 am Eastern Time Company Press Release SOURCE: Security First Technologies Security First Technologies Closes Deals With Andersen Consulting and HP ATLANTA, May 3 /PRNewswire/ -- Security First Technologies Corporation (Nasdaq: SONE - news), or S1, a leading provider of Internet-based applications for the financial services industry, today announced it has closed the previously announced stock purchase agreements with Andersen Consulting and Hewlett- Packard Company (NYSE: HWP - news). As a result, S1 received investments of $4 million from Andersen Consulting for the sale of 72,800 shares of S1 stock to Andersen Consulting and $10 million from HP for the sale of 182,004 shares of S1 stock to HP. The number of shares purchased gives effect to a 2-for-1 stock split to be paid on May 7, 1999 to shareholders of record on April 26, 1999. The stock purchase agreements were originally entered into on February 22, 1999. In addition to its $4.0 million investment in S1, Andersen Consulting, a leading global management and technology consultancy, and S1 previously announced a strategic alliance to jointly develop new applications, business strategies and implementation processes that are designed to increase the ability of financial institutions to leverage new technology, improve speed to market and compete more effectively in Internet services. In addition to its $10.0 million investment in S1, HP, a $47.1 billion global provider of computing and Internet solutions, also entered into a strategic global alliance with S1 to drive the next generation of integrated Internet-based financial services. About Andersen Consulting Andersen Consulting's Financial Services practice provides strategic management and technology consulting to financial services firms throughout the world across three broad industry segments: Banking, Insurance and Health Services. The practice serves, among other organizations, retail, investment and commercial banks; investment management firms; securities firms; depositories; exchanges; property & casualty insurers; life insurers; health insurers and health providers. Andersen Consulting is a $8.3 billion global management and technology consulting organization whose mission is to help its clients change to be more successful. The organization works with clients from a wide range of industries to link their people, processes and technologies to their strategies. Andersen Consulting has approximately 65,000 people in 48 countries. Its home page address is ac.com . About HP's Financial Services Business Unit HP's Financial Services Business Unit works closely with world-class partners to design and build industry-specific and customized open-computing solutions for banks, insurance companies, securities firms and other global financial-services organizations. The Financial Services Business Unit's clients include some of the largest, most profitable and most respected institutions in the world. Information about HP's solutions for the financial-services industry may be found at hp.com . About Security First Technologies Security First Technologies or S1 builds, delivers and operates integrated, transactional and brandable Internet applications for financial institutions. S1's secure solutions are available for in-house implementations or can be outsourced to the S1 Data Center. S1 also offers training, product integration and customer service center outsourcing. S1, through direct sales and channel partnerships, has agreed to provide software applications and technology to more than 100 financial entities, including 14 of the top 100 U.S. financial institutions. S1 can be reached at www.S1.com . SOURCE: Security First Technologies