DST Vision Now Offers Systematic Export of Customer Holdings to Morningstar Principia

Financial Advisors Able to Conduct Business More Efficiently

Kansas City, Mo., Sept. 28, 2004 – DST Vision™, the leading account management Web site for financial advisors, and Morningstar, Inc., a leading provider of independent investment research, have joined forces to help advisors conduct business more efficiently.

Advisors using Vision® can now systematically transfer customer account information into Morningstar Principia® and Morningstar Advisor Workstation^SM Office Edition. These Morningstar products are widely used by advisors to analyze client portfolios and build custom presentations. Vision’s data-export feature saves advisors time by eliminating the need to manually enter customers’ holdings information.

“The ability to export client portfolios from Vision to Principia is a big time saver and helps me work more efficiently,” said Michael Falcon, a financial advisor with 1st Global Capital Corp.

With the addition of the Morningstar export capability, Vision demonstrates its ongoing commitment to providing more than 55,000 active advisors the tools they need to do their jobs effectively.

“Advisors have established more than four million client portfolios in Vision,” said Ken Keiser, who manages Vision’s strategic relationships. “Making customer account information from Vision’s 260 participating mutual fund and variable annuity companies portable to other core business applications, such as those offered by Morningstar, helps advisors boost their office productivity. An export to Morningstar has been one of the top requests from advisors.”

"We’re pleased to add DST Vision to our list of compatible systems," said Chris Boruff, president of Morningstar's advisor business. “The enhanced interface will allow advisors to combine our research and analytics with Vision’s account management tools, helping them serve their clients more efficiently.”

Morningstar, Inc. is a leading provider of independent investment research in the United States and in major international markets. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutional clients. Morningstar tracks more than 100,000 investment offerings, including stocks, mutual funds, and similar vehicles. The company has operations in 16 countries.

Introduced in 1998, DST Vision™ is designed to give 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. A majority 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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The information and comments above may include forward-looking statements respecting DST and its businesses. Such information and comments are based on DST's views as of today, and actual results could differ. There could be a number of factors affecting future results, including those set forth in Form 8-K/A dated March 17, 2003 filed by DST with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward-looking comment. The Company will not update any forward-looking statements in this press release to reflect future events.

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