Albert Fried & Company Goes Live on SunGard’s Phase3 Integrated with SunGard’s BRASS, Margin Advisor and WealthStation

Burlington, MA – 26 March 2007

SunGard announced today that New York-based, self-clearing broker/dealer Albert Fried & Company, LLC has completed its implementation of SunGard’s Phase3 multi-asset, multi-currency securities processing solution integrated with SunGard’s BRASS OMS and Allocations, Margin Advisor real-time margin tracking system, and WealthStation wealth management and broker platform for tax-lot accounting and correspondent trading.

Albert Fried processes equities and fixed income securities on one Phase3 consolidated, real-time processing platform in conjunction with Margin Advisor for real-time margin calculation and tracking, integrated with SunGard’s BRASS OMS and Allocations applications to help achieve operational efficiencies. Albert Fried receives trade information directly from exchanges as well as from trade matching engines, such as Omgeo Oasys. BRASS collects and consolidates trade information from these multiple sources into one feed, which is then sent to Phase3 for books and records processing and Margin Advisor for margin calculation and continuous monitoring. Phase3 integrates with WealthStation to provide Albert Fried’s brokers and traders with access to aggregate information on positions, trade activity and tax lots for profit and loss reporting and inventory, as well as to process done-away trades.

“Real-time, online processing is critical to staying competitive in the self-clearing world, and Phase3 helps us gain the sophistication and efficiencies required to evolve our business,” said Anthony Katsingris, chief operating and compliance officer at Albert Fried & Company. “Phase3 integrated with BRASS and WealthStation helps to streamline our existing business, while its flexibility to handle high volumes and innovative capabilities will help position us well for the expansion of our correspondent clearing and prime broker initiatives.”

Among the new capabilities used by Albert Fried are the ability to handle money market sweeps, online and real-time historical data, a new integrated external general ledger system, and disaster recovery facilities provided by SunGard Availability Services. In addition, settlements are processed in a straight-through manner with a complete, end-to-end automated workflow. “SunGard attracted us because of its ability to plug-and-play its broad portfolio of financial services solutions directly into Phase3,” added Mr. Katsingris.

“Even for a trade that may generate 300 entries in our books and records, our clearance and settlement process is more efficient than ever. Trades rarely seem to require human intervention,” said Andrew Buovolo, director of operations.

As a former holder of 21 member seats on the New York Stock Exchange (NYSE), Albert Fried’s institutional client base has more than doubled in size as the firm added two additional offices in Los Angeles, California and Purchase, New York over the last 3 years.

Gerard Murphy, president of SunGard’s Phase3 business unit, said, “We are pleased that Albert Fried has successfully completed its conversion to Phase3, and we look forward to supporting its initiatives in the future. Phase3’s proprietary integration with BRASS, WealthStation, and many other systems is valuable in helping to provide greater operational efficiencies through automated, straight-through processes. Phase3 can help firms provide better real-time information to their brokers, traders and clients in order to help them capitalize on market opportunities and respond to immediate trading needs.”

About Albert Fried & Company, LLC

Established in 1919 as a specialist firm on the New York Stock Exchange, Albert Fried & Company, LLC remains one of the ten oldest NYSE member firms still operating. Albert Fried has evolved into an exclusive broker/dealer offering highly competitive commission rates and exceptional execution to institutional and high net worth individual investors. With trading activities encompassing equities, fixed-income, high-yield and distressed debt, bank debt, futures and options, Albert Fried utilizes a floor-broker network, direct-access and electronic trading systems to deliver professional service and quality executions.

About Phase3

A real-time, order-to-settlement system for processing securities transactions, Phase3 supports retail and institutional broker-dealers, ECNs, and correspondent clearing firms. Phase3 helps organizations automate securities processing, helping to reduce the delays and errors associated with manual interventions and helping to efficiently accommodate large trade volumes. It also assists customers in consolidating their records by enabling them to process all securities types on a single platform, using a single database, including equities, fixed income, mutual funds, and annuities.

About SunGard

With annual revenue exceeding $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. Visit SunGard at www.sungard.com.

Trademark Information: SunGard, the SunGard logo, Phase3, Margin Advisor, BRASS and WealthStation are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.

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