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EXHIBIT 99
SS&C TECHNOLOGIES, INC. TO REPURCHASE UP
TO $20 MILLION OF ITS COMMON STOCK
Windsor, CT, May 23, 2000 - SS&C Technologies, Inc. (Nasdaq: SSNC)
today announced that its board of directors has authorized the repurchase of
shares of the Company's common stock up to a total expenditure of $20 million
over the next year as market and business conditions warrant, in open market,
negotiated, and block transactions. The repurchased shares will be used for
general corporate purposes. SS&C has 16.1 million shares outstanding as of April
30, 2000. At the current market price of $4.59 (as of close of market May 23,
2000), SS&C's approximate market capitalization is $74 million.
William C. Stone, SS&C's President, Chief Executive Officer, and
Chairman of the Board, said "The Company's cash and marketable securities of
approximately $53 million gives us ample capability to buy back shares at
attractive prices. This stock repurchase program reflects management's belief in
the value of our people, products, and markets. Our Company is here for today,
tomorrow, and the long-term."
ABOUT SS&C TECHNOLOGIES, INC.
With offices in the US, Canada, Europe, and Asia, SS&C is a leading
provider of financial software solutions, services, and expertise to asset
managers worldwide. SS&C primarily targets its products and services to
large-scale, sophisticated investment enterprises who use the trading,
accounting, reporting, and analysis solutions to manage, in aggregate, more than
$3 trillion in assets. Additional Company information is located at
www.ssctech.com.
