1. Misys Banking Division
Ivan Martin
CEO
Misys Banking Division

2. Agenda Misys Banking Division Strategy Ivan Martin
Business Drivers Steve Gowers
Product Management Jerry Luckett
Break
Three Great Stories
SummitFT Georges Bory
MidasPlus Andrew White
EquationPlus Andrew Derrer
Summary Ivan Martin
Questions and Answers All

3. Key messages 1. Banking is a large and growing software market
2. Misys is well positioned to benefit from this growth
4. Misys is growing its market share in key markets
3. Misys leads in functionality and technology
5. Retail is key growth sector going forward

4. Where were we?
What did we do?
Where are we now?

5. Where were we?
What did we do?
Where are we now?

6. What did we see in 2002? In 2002 you told me …
“Products are old legacy back office systems”
“Losing market share to competitors”
“We see no product roadmap for the future”
“There is a risk the business will not benefit
from a recovery in spending”

7. What did we see in 2002? Banking Division ILF 150 100 Revenue £m 50
- ILF moving annual total
- Smoothed ILF trend line
1996
1998
2000
2002

8. Where were we?
What did we do?
Where are we now?

9. What did we do? Portfolio Management Talent Management Columbus
Product Management
Services
R&D investment

10. Banking software market
Significant opportunities in target markets
Securities
US Retail
Asset Mgmt
Treasury
International Retail
Corporate
Addressable market > $5bn

11. Misys Banking Division
Healthcare Systems Division
Financial Services Division
Banking
Division
Misys Retail Banking
Misys Wholesale Banking Systems
Summit Systems
Misys Risk Management Systems

12. What did we do? Portfolio Management Talent Management Columbus
Product Management
Services
R&D investment

13. Misys and Banking Systems Market
Private
Banking
Investment
Retail
Corporate
Universal
RISK
GMS
LOAN IQ
SUMMIT
Over
$100 bn
MIDAS
OPICS
EQUATION
BANK
MASTER
Asset size of Bank
Below
$5 bn
Boxes represent market coverage – not size of business

14. What did we do? Portfolio Management Talent Management Columbus
Product Management
Services
R&D investment

15. What did we do? Portfolio Management Talent Management Columbus
Product Management
Services
R&D investment

16. Competitor information Customer requirements Technology innovations
Product management
Lifecycle mgmt
Introduction
Growth
Maturity
Decline
Evaluation
Qualification
Definition
Operation
Business
as usual
Launch
Design
Build
Alpha
& Beta
Development
“Build”
Decision
“General release”
Market Understanding
Market Engagement
Competitor information
Customer requirements
Technology innovations
Misys vision
Market drivers
“Go external”
to beta
Outline
‘Delivering the solutions our customers want, when they want them’

17. What did we do? Portfolio Management Talent Management Columbus
Product Management
Services
R&D investment

18. What did we do? Portfolio Management Talent Management Columbus
Product Management
Services
R&D investment

19. R&D + 55% R&D Man Days Increasing offshore capacity (,000) 140
Front-office
100
+ 55% 60
Technology 20
Back-office
2003/4
2006/7
Increasing offshore capacity

20. Where were we?
What did we do?
Where are we now?

21. Banking market conditions
Banking software markets are generally improving
Conditions vary significantly between sectors
Retail banking continues to show sustained growth
Wholesale banking and capital markets have stabilised
Marked regional differences; activity in emerging markets
Underlying market drivers still apply
Cost containment
Regulation
Rising consumer expectations
Long term trends continue
Move away from in-house software to third party packages

22. Market structure - banking software revenues
Source: 2002 financial statements & Misys estimates
Source: Annual Reports and Private Company estimates.

23. Global power – local knowledge
Auckland Bahrain Bangalore Bangkok Beijing Brussels Dubai
Dublin Frankfurt Hong Kong Jakarta Jo’burg Kuala Lumpur Lisbon London Lux’bourg Madrid Manila Mexico Miami Milan Moscow Munich New York Paris Riga Sao Paolo Seattle Singapore Slough Sofia Sydney Tokyo Utrecht Warsaw White Plains Zurich

24. Achievements in 2004 Portfolio moved to new areas of growth
Increased investment in R&D
Retail benefiting from market facing structure
Increased Treasury & Capital Markets market share
Strong evidence of traction in our installed base

25. Achievements in 2004 Best increase in H2 order intake in 3 years
Closing order book up strongly
Maintenance revenues stable
H2 professional services grew by 20%
Professional Services backlog grew by greater than 70%

26. Business Drivers Steve Gowers Business Development Director
Misys Banking Division

27. Misys focus
Misys is focused on providing business critical systems in specialist vertical markets
Characteristics of vertical markets:
Depth of industry knowledge
Depth of software IPR
Specialist skills able to rapidly deliver solutions
Demand for mature and proven systems
Long lead times
Different drivers from ‘horizontal’ markets (e.g. ERP)

28. How do vendors compete in vertical markets?
What drives growth in vertical markets?

29. How do vendors compete in vertical markets?
What drives growth in vertical markets?

30. Competitive dynamics in vertical markets
1. Breadth of product portfolio
2. Depth of IPR
3. Size & quality of development capability
4. Breadth and depth of geographic network
5. Ability to sell into installed base

31. Breadth of product portfolio
Private
Banking
Investment
Retail
Corporate
Universal
RISK
GMS
LOAN IQ
SUMMIT
Over
$100 bn
MIDAS
OPICS
EQUATION
BANK
MASTER
Asset size of Bank
Below
$5 bn
Boxes represent market coverage – not size of business

32. MidasPlus SummitFT Depth of IPR
Midas represents 14 million lines of code in total, with 168 functional modules
MidasPlus release was 3 years in the making, delivering 3 million lines of new software
IAS Compliance was 50 man years of investment
SummitFT
Summit represents 6 million lines of code in total
SummitFT release was 3 years in the making
SummitFT and MUST alone represent an investment of over 75 man years

33. Size and quality of development
2,600 specialist staff
F&A
Support
Services
Sales and Marketing
Software
Development
Product Management
More than 1,000
software engineers

34. Breadth and depth of network
Auckland Bahrain Bangalore Bangkok Beijing Brussels Dubai
Dublin Frankfurt Hong Kong Jakarta Jo’burg Kuala Lumpur Lisbon London Lux’bourg Madrid Manila Mexico Miami Milan Moscow Munich New York Paris Riga Sao Paolo Seattle Singapore Slough Sofia Sydney Tokyo Utrecht Warsaw White Plains Zurich

35. Ability to sell into installed base
3 Core systems
Midas 450 Wholesale and international banks
Equation 270 Retail banks
BankMaster 190 Retail and Universal banks
4 Departmental solutions
Summit 110 treasury & capital markets operations
Opics 130 treasury departments
GMS banks, funds and corporates
Loan I/Q banks
Enterprise Risk
Risk Vision banks
Count is number of discrete Banks
Total = more than “1400 customers” because many clients have multiple systems

36. Ability to sell into installed base
Contracts signed in FY03/04
45% of Misys contracts were for
extensions of existing business
Upgrades/Extensions
Funded dev/Other
Additional volume
New customer
55% of Misys contracts were for
new product and new customers
New product
Analysis based on numbers of contracts

37. How do vendors compete in vertical markets?
What drives growth in vertical markets?

38. Drivers of growth in vertical markets
1. New technology cycles
2. Growth in underlying business volumes
3. Increasing burden of regulation/reporting
4. A return to IT spending for competitive advantage
5. Trend to use of third-party vendors

39. Growth drivers – technology cycles
IT Spending Cycles
Mini-
computers
Euro and
Y2K
Client-
Server
ISV’s
Services Oriented
Architecture 74 76 78 80 82 84 86 88 90 92 94 96 98 00 02 04
Source: Bureau of Economic Affairs

40. Growth drivers – underlying volume
Transaction Volumes
2,007,551,750 messages
2.0 billion
1.8 billion
1.6 billion
1.4 billion
1.2 billion
1.0 billion
0.8 billion
0.6 billion
0.4 billion
Swift estimate that Misys systems generate 15% of all transactions in their network.
Misys is at the heart of banking
1994
1996
1998
2000
2002
2004

41. Growth drivers – underlying volume
Global FX Volumes
$1.4 trillion per day
$1.50 trillion
$1.25 trillion
$1.00 trillion
$0.75 trillion
$0.50 trillion
$0.25 trillion
Misys GMS confirms approximately 7% of the world’s $1.4 trillion daily foreign exchange transactions
This equates to $100 billion per day through Misys GMS ASP solution
1994
1996
1998
2000
2002
2004

42. Growth drivers – regulation/reporting
2004
Simple
Lightly Regulated
Old Boy Network
Complex
Highly Regulated
Performance Culture
1984

43. Growth drivers – competitive advantage
Cost Reduction
Customer Service
Cost
Other
Service
Costs
Service Quality
88% of CIO’s
70% of Customers

44. Growth drivers – quality imperative
Fails/Million 1 3K
50K
NatWest
100K

45. Growth drivers – shift to third-parties
Fails/
Million
Bank IT budget allocation
New Projects
Maintenance
Maintenance v New Projects
Internal v External Software
Source: Celent – IT Spending Europe 2004

46. The new era and Misys Functionally rich Component based
Engineered on Java & .NET
With compliance built in
‘Delivering the solutions our customers want, when they want them’

47. Product Management and Development Process
Jerry Luckett
Product and Strategy Director
Misys Wholesale Banking Systems

48. Product management objectives
Target Market
Market Requirements
Solutions to Meet Requirements
Internal Return
Resource Allocation

49. Product management process
Evaluation
Qualification
Definition
“Build”
Decision
Market Understanding
Competitor information
Customer requirements
Technology innovations
Misys vision
Market drivers
Outline
Operation
Business
as usual
Market-
Launch
“General release”
Decision
Lifecycle mgmt
Introduction
Growth
Maturity
Decline
Design
Build
Alpha
& Beta
Development
“Go external”
to beta
Market Engagement

50. Customer involvement Strategic Development Partnerships
Customer Advisory Boards
Funded Development
Market Research
User Groups

51. Development process Quality Management Configuration Management
Development Process – Development Standards – Quality Plan – Quality Audit – BMS / ISO Accreditation
Configuration Management
Doc Set Mgmt – Version Control – Collection – Packaging – Shipping – Dev Schedule – Dev Facility – Client Inventory
Project Management
Dev Plan – Test Plan – Deployment Plan – Dev Tracking
Requirements
Definition
System
Specification
Design
Construct
Integration
Test
Quality
Assurance
Controlled
Deployment
Ongoing Fix

52. The move to offshore and outsourcing
Misys has been creating offshore capacity for more than a decade
What we gain from offshoring:
Lower unit costs
Increased capacity
24 hour development capability
Access to wider skill pool
Significant local market presence
In addition outsourcing also provides a variable cost model

53. Moving to offshore cost base
2004
Getting It Right!
Have an ambition, know your target
Plan offshore/onshore mix
You are moving, your customers are not
Inject product skills through secondment
Recruit and train
Protect domain knowledge – realignment strategy
Excellent communications
2007

54. Summary Know what you want to build
Get the software factory working effectively and efficiently
Result
Focus on growth products and new markets
Output that meets and exceeds industry quality standards
Increase development capacity without increasing the R&D to revenue ratio

56. SummitFT
Georges Bory
Managing Director
Summit Systems

57. Summit – a brief introduction
Product
Treasury & Capital markets solution 400+ staff in 8 countries world-wide
110 global customers
Consistent management and technology strategy
Loyal customer base
Resources
Core development in NY & Paris
Outsourcing partner
Support and local development
New York, Paris, London, Frankfurt, Singapore, Seoul, Tokyo
Sales – global resource
Target Markets
Primarily Tier 2 & 3 banks
Some Tier 1
ASP solution for Tier 4 / corporates

58. Summit solution Derivatives
One Solution front-to-back covering multiple asset classes
Treasury
Commercial Lending
Fixed Income
Derivatives
Breadth & Depth of functionality – No. 1
Modular Technology that grows with clients needs
Market leading tool for exotics & structured products
Technological advantages - .NET and real time services
ASP

59. Multi-asset class coverage
Fixed Income
Bonds
MTNs
MBS/ABS
Repos
Sec Lending
GICs
Emerging Mkt
Treasury
Loans
& deposits
Foreign Exchange
Money Market securities
Derivatives
Interest Rate
Credit
Currency
Equity
Bonds
Commodity
Lending
Syndicated Loans
Bilateral Loans
Exotics & Structured (MUST)

60. Product evolution 14 Years Track Record FT MS .NET 1990 2000 1998 1996
Client - Server C
Unix
Sybase
1990
2000
1998
1996
2001
2002
1993
2003
MARKETS RISK MANAGEMENT
DERIVATIVES FRONT OFFICE
MONEY MARKET and FIXED INCOME
DERIVATIVES BACK OFFICE
CREDIT DERIVATIVES
TREASURY FRONT to BACK OFFICE
REAL TIME FX
COMMERCIAL LENDING
REAL TIME STP
DISTRIBUTED RISKS
EQUITY DERIVATIVES
WEB TRADING
CASH
MANAGEMENT
Extendible Data Model
Customizable
GUI
Pricing API
C++
Native NT
Oracle-Sybase
Product Formula
Excel Add-In
3 Tier Corba Orbix
Gateway
RT FX Position Server
RT Event API
eToolkit Excel / Java
XML
Credit Server
Risk Server
RT STP
Framework
Web Trading
MS SQL Server
FpML
2004
FT MS .NET
Parallel Distributed architecture
EXOTICS &
STRUCTURED TRADES
MUST
Linux
Grid Computing
SOAP & Web Services

61. Investing ahead of the curve
Increased R&D during downturn
Ready with market leading technology for upturn
Followed a consistent product strategy and vision
Employed and retained product development and product marketing expertise
54,000 R&D man days over 5 years

62. Client examples Global Investment Banks International Wholesale Banks
Regional & Large Local Banks
Hedge Funds/Corporates

63. Our customers speak for us
Our decision to pool all applications into one with Summit as the BLB core solution for investment banking, will help us achieve this goal. Replacing such a large number of systems will reduce costs in many areas by reducing system complexity and improving STP.
The processing and managing of trades will be massively improved with Summit and I expect to see a quick return on our investment.
I was impressed by Summit’s product knowledge and the capability of its solution. It will provide us with flexible pricing, integrated risk management and back-office tools that will enable us to establish and grow our business in this competitive and profitable market.

64. Market trends “Banks are looking to consolidate vendors”
“ISDA has estimated that the credit derivatives market has doubled for each of the last six years - $3.58 trillion by the end of 2003 with 51% growth expected in 2004”
“Treasury technology spend is now starting to see strong signs of recovery and positive growth rates, and Datamonitor predicts CAGRs of 3.2% and 2.9% from 2002 to 2006 in Europe and the US respectively. “
“the deadline for IAS39 compliance, together with overall pressures to centralize treasury technology in order to improve operational efficiency, is going to drive significant increases in year-on-year growth of investment until 2006 and beyond”

65. 33 banks of the top 100 Banks use Summit
The Summit advantage
Breadth and depth
Technological advantage
Summit MUST
Regulatory compliance
Corporate strength
Business specialists
Worldwide customer base
14 years experience
33 banks of the top 100 Banks use Summit

66. Misys Wholesale Banking Systems
MidasPlus
Andrew White
CEO
Misys Wholesale Banking Systems

67. This is Midas! Most successful banking software package ever
International branches and regional banks
Unmatched corporate banking capabilities
Global product, local features, local support
Loyal customer base – TRUST

68. Source: Bureau of Economic Affairs
25 years of change
IT Spending Cycles
Mini-
computers
Euro and
Y2K
Client-
Server
ISV’s 74 76 78 80 82 84 86 88 90 92 94 96 98 00 02 04
Source: Bureau of Economic Affairs

69. Change again. Banks are under pressure.
Competition: markets, products, price
Risk
Regulation
Manual operations
Rocketing customer expectations

70. Source: Bureau of Economic Affairs
Next phase
IT Spending Cycles
Mini-
computers
Euro and
Y2K
Client-
Server
ISV’s
Services Oriented
Architecture 74 76 78 80 82 84 86 88 90 92 94 96 98 00 02 04
Source: Bureau of Economic Affairs

71. This is MidasPlus! Open architecture Global processing
Straight Through Processing (STP)
Head office solution
Multi-channel eServices platform

72. MidasPlus – A whole new world

73. Deep functionality New solution - with pedigree
Tightly integrated yet flexible
Improved functionality
Customer self service
Strong support

74. Modern technology platform
Deployment options
Open
Efficient
Development tools
Faster time to market

75. Delivering global processing solutions
The Power of One
Improved customer service
Cost and credit control
Reduced risk
Agility
Cross-selling opportunities

76. Roadmap – more to come! 25 Years Track Record 1996 2002 2000 1999 2003
Client Server
GUI
1996
2002
2000
1999
2003
2004
1997
2005
Syndicated Lending
Private Banking
Euro Support
Y2K
IBAN Support
Repo Processing
Collaterals Register
CLS
Credit Risk management
ISO15022
Profit Centre Accounting
Overnight Index Swaps
IAS 39
Cash Mgmt
IAS 18, 32
Local Features
Collateral Lending
Management Limits
KYC
eServices
Global Reporting
Syndication Manager
Messaging
APIs
iSeries
Integration Toolkit
MUI
MQ Series
J2EE
10 Digit Account
Websphere
Thin Client
Web Services
i5/OS
2006
Enhanced Front Office
Enhanced Retail
Revenue Analysis
Full API support
User Defined Forms
SOAP
Advanced Processing
Component based solutions
Business Routing

77. The MidasPlus effect Single biggest investment in Midas, ever
Three years in the making
Delivered on schedule
15 deliveries the day MidasPlus was launched
First two customers in production before Dec

78. The global processing effect
Banks will each select a single vendor solution
All back offices in a bank will converge
All Midas customers will upgrade over time
Local features and local reporting are musts
Misys is market leader and has first mover advantage

79. Why Misys and Why MidasPlus?
Trust and expertise
Integrated
Global processing
Best functionality
Corporate strength
Best local support
Best technology
25 years experience

80. EquationPlus
Andrew Derrer
CEO
Misys Retail Banking

81. Market leading foundation
Brand new technology
Market leading foundation
More than just a product
Elevates the entire market
Wider opportunity
Equation Plus

82. Market dynamics The largest market with the largest growth:
Retail Banking to Bank Retailing
Packages will be the norm
Compliance deadlines
Islamic Banking

83. Installed sites market share
Installed base
Source: IBS Market Report – International Retail Core Banking Software Market. Excludes North America

84. Addressing the market need
Channel
Teller
Electronic
B2B2C
Merchandising
Process
Differentiation
Transactional
Complex
Experience
Product
Efficiency
Deposit/Loans
Investment
Wealth management
Data
Knowledge
Transactional
Customer-centric
Real-time analytical

85. The challenge
Delivering packaged software and related services to help financial institutions:
Improve customer service
Comply with regulatory requirements
Reduce IT costs

86. EquationPlus Open technology Channels Process Business Process Product
Branch Channels
Internet Banking
Call Centre
IVR
Customer Sales & Service
B2B2C
ATM
POS
Mobile & Kiosk
Offline
Channel platform
Process
Business Process
Workflow
Rules
Data Propagation Management
Product
Reporting
Consumer Banking
Commercial Banking
Treasury
Analytics
Customer Services
Other Banking Services
Data
Misys Retail Banking Database
Interfaces
Product/ Transaction
General Ledger
Consolidated Information
3rd Party Information
Existing
New
3rd Party
Open technology

87. The roadmap Efficiency + Merchandising + Knowledge + Differentiation
Business
Process
Engine
Q1 06
Platform
Independent
Back-Office
24 X 7
Q4 05
Platform
Independent
Front-Office
Multi-channel
Sales & marketing
Q1 05
Complete retail
system
Today
Efficiency +
Merchandising +
Knowledge
Differentiation
Based on calendar year

88. The execution What convinces us that we can execute on the milestones?
Experience - MidasPlus
Partnerships
Unique tools and utilities
Talent

89. Founding principles for customers
Bring every customer with us
An attractive future for every Misys Retail Banking customer
Easy, worthwhile upgrades
Support commitment
Technologies that meet the aspiration of banks, both large and small
The right architecture
Inclusive, not silo-based
Right platforms

90. What the market thinks
In migrating to Equation Plus, Misys has unveiled an expansive vision to combine the best elements of proven retail banking functionality, with the capabilities of leading edge architectures.
Equation Plus, a complete new-generation, richly functional, highly-advanced retail banking system, will in our assessment, transform the fragmented retail banking market and competitive landscape.
If Misys can deliver on this plan, it will mark a real renaissance for the Equation brand

91. Why we will be best in the market?
Single customer view
First truly open system
Process automation leader
CRM leader
Functional leader
Single point of accountability
Company strength
20 years of experience

92. Misys Banking Division
Summary
Ivan Martin
CEO
Misys Banking Division

93. Growth opportunities SummitFT MidasPlus EquationPlus
Market leading Treasury & Capital Markets solution
World class functionality and technology
Consistent growth up to and including last 3 years
MidasPlus
Most successful banking application ever
Unmatched depth of corporate banking functionality
Significant 3 year investment in new technology platform
EquationPlus
World class Retail functionality
Clear leader in international markets
First truly open front-to-back Retail solution

94. Customer satisfaction
… today our customers tell us …
“Very impressed by the improvement in Equation Support over the last six months.”
“If the Customer Satisfaction Survey were to be repeated now, Misys would see a dramatic improvement in feedback from its customers.”
“A most impressive display of solid technical expertise and great support. Best wishes from a satisfied customer.“

95. Market feedback Morgan Stanley/IBS Survey on behalf of Association
“Our survey indicates that Misys’ customers are planning fewer system replacements than users of other systems
The solutions rated more favourably than other vendors on flexibility and instrument coverage
Misys’ product position versus the market remains strong ... with products perceived as offering above-average support for banks’ future needs”
Morgan Stanley/IBS
Survey on behalf
of Association
of Foreign Banks
April 2004

96. Key messages 1. Banking is a large and growing software market
2. Misys is well positioned to benefit from this growth
3. Misys leads in functionality and technology
4. Misys is growing its market share in key markets
5. Retail is key growth sector going forward

97. Making things that really matter, work better