DST Introduces Vision HomeOffice

New Web site features real-time operational information and self-servicing tools for broker/dealer and trust company home-offices

KANSAS CITY, MO., November 5, 2004 – DST Systems, Inc. introduces Vision HomeOffice™—a new Web site specifically designed to streamline daily operations and address compliance challenges for broker/dealer and trust company home-offices. Vision HomeOffice is the result of a collaborative effort between DST, a number of the industry’s most popular third-party-distributed fund families and 30 broker/dealers who provided guidance. This initial release continues an ongoing strategy to reduce both the fund’s and firm’s operational costs while simultaneously increasing oversight.

Vision HomeOffice is built on the proven infrastructure of DST Vision ®, the industry’s leading online account management solution with participation from more than 260 mutual fund and variable annuity companies.

From the site, home-offices can quickly access detailed metrics for their firms’ daily business. Real-time NSCC Fund/SERV SM reject information is updated throughout the day as activity is received. Rejects can be processed immediately eliminating what is currently a manual, time-consuming process for both funds and firms. The site also offers detailed information on the firm’s branch and representative profiles to assist with daily reconciliation issues such as commissions and split representative transactions. Additionally, breakpoint details help in researching pricing issues at the shareholder and transaction level.

"Vision HomeOffice truly represents a win-win for both funds and broker/dealer and trust company home offices,” said Nino Palermo, vice president of American Funds. “Funds benefit through the automation of current manual processes, while firms gain the independence they seek in this new self-service environment. Vision's ongoing enhancements and the launch of Vision HomeOffice reinforce our decision to work exclusively with DST Vision.”

“We are beginning a new era in our continuing effort to assure that Vision remains the dominant industry tool for self-servicing. Our traditional approach of one site for advisors and home-offices has reached maturity and is being replaced by two sites designed exclusively for each audience. We believe this strategy positions our mutual fund and VA customers to continue to realize operational expense reductions going forward,” said Kyle Mallot, DST client service officer in charge of Vision.

Vision HomeOffice is in its pilot phase with select home-offices. It will roll out to more than 1,200 broker/dealer and trust company home-offices in March 2005.

Introduced in 1998, DST Vision ® is designed to provide independent advisors an easy-to-use, one-stop information source for customer positions held directly with fund families and variable annuity providers. With a single ID and password, advisors have access to account management tools including transaction processing capabilities, customizable client portfolios, and access to electronic statements. More than 70 percent of third-party-distributed mutual funds, representing more than 93 million accounts, and over half of the leading variable annuity providers participate in Vision ®, including industry giants AllianceBernstein, AIM Investments, American Funds, MFS Investment Management, Nationwide Financial, OppenheimerFunds, Inc., and Pacific Life. Vision is continually enhanced to simplify account management and serve the evolving needs of financial intermediaries. Visit Vision at www.dstvision.com.

DST Systems, Inc. [NYSE: DST] provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organized domestically and internationally into three operating segments: Financial Services, Customer Management, and Output Solutions. DST operates one of the most advanced data centers in the world, which provides information-processing services to support the products within each operating segment. These products are further enhanced through the integration of DST’s advanced technology and e-commerce solutions.

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