Hub Data, a subsidiary of Advent Software®, Inc., announces it will integrate Fitch IBCA's credit ratings on fixed income securities into its Hub Market Data (HMD) service. Through this agreement, Hub Data customers will be able to download the ratings data into their investment accounting and portfolio management systems.

Hub Data will be able to provide its customers with important ratings information, and at the same time improve their workflow by integrating the data with their portfolio management system. Fitch IBCA ratings are recognized by the National Association of Insurance Commissioners (NAIC), which is of utmost importance to insurance companies.

"We are extremely pleased to have been selected by Fitch IBCA has a redistributor of their ratings data," said Bob Huebscher, President of Hub Data. "Our insurance clients have expressed a strong interest in obtaining this data via our service and we are eager to provide this integrated service."

"Hub Data is a recognized leader in data redistribution for the financial services industry," said Tom Paparatto, Managing Director of Business Development for Fitch IBCA. "We look forward to expanding our relationship and services over time."

Fitch IBCA is one of the three largest rating agencies in the world with over 700 analysts and staff in 29 offices worldwide. The company is owned and operated by FIMALAC, S.A., a diversified operating company headquartered in Paris.

PORTFOLIO ONE is SunGard's turnkey portfolio management solution designed to meet the needs of global institutional money managers. The system's comprehensive functionality allows it to fully utilize internet technology and positions it to effectively meet the challenges of Straight-Through Processing and T+1 settlement.

Through this link, Hub Corporate Actions can accept a list of assets from PORTFOLIO ONE clients, and then can integrate, compare and verify actions on these securities across multiple high-quality data vendors. Hub Corporate Actions sources include Xcitek, Telekurs Financial, CCH INCORPORATED and Valorinform. The information is automatically updated and e-mailed to clients daily in clean and concise reports.

"The SunGard link automatically transfers my list of holdings to Hub Data in a single download, and on a daily basis. I don't have to worry about it. It frees time to concentrate on other aspects of our business," said Mike Miller, Senior Portfolio Accountant at Denver Investment Advisors, LLC. "It adds even more value to the Corporate Actions service."

"This will prove to be a huge time saver for our clients," said Bob Urbanik, vice president of SunGard Portfolio Solutions. "In addition to receiving timely, integrated information, the clients will no longer have to call custodians, companies or other sources in effort to determine the effect of the action."

Bob Huebscher, president of Hub Data, said "We are extremely pleased that SunGard selected us to provide this type of mission-critical data to their PORTFOLIO ONE clients. We've developed Hub Corporate Actions to deliver timely information for the full universe of securities, including U.S. and non-U.S. investments, and we believe our work with SunGard is an ideal fit for the service."

Founded in 1990, Hub Data offers a full suite of enterprise-wide data management solutions, including products and services for market data, security master file conversions and scrubs, and corporate action information from the industry's premier data providers. Hub Data serves over 240 financial institutions via electronic interfaces to many industry portfolio software systems. Additional company information is located at http://www.hubdata.com.

In an effort to simplify the time-consuming and error-prone process of manually tracking corporate actions, Hub Data announced today that CCH INCORPORATED’s Capital Changes Reports is now available through Hub Data's new corporate actions processing service.

Hub Corporate Actions, launched in May, is an enterprise-wide, web-based notification service that automates the process of manually tracking corporate actions. CCH Capital Changes Reports includes the CCH Cost Basis Factor(tm), which allows investment firms to accurately calculate a security's tax cost basis.

Posting corporate actions in a timely and accurate manner is essential if firms are going to meet straight-through processing goals and prepare to move toward T+1 settlement. If an action is not posted on the proper date, portfolio valuations can suffer an abnormal and unrealistic devaluation, causing costly performance reporting problems. The problem is even greater if incorrect corporate action data is posted, which can result in hundreds or possibly thousands of incorrect transactions to be posted to individual accounts.

"The time and cost of reversing incorrect transactions can be enormous, and in today’s environment where real-time access to information is commonplace, this primary function of tracking corporate actions can no longer remain a manual process," said Bob Huebscher, president of Hub Data. "CCH leads the industry in providing timely, accurate cost basis information, and we’re extremely excited to have this data now available to our clients."

CCH is widely recognized as the exclusive and definitive provider of cost basis information. Hub has integrated the CCH information into its service, in addition to corporate action data from Xcitek, Valorinform, and Telekurs Financial. Hub's customers get daily announcements of corporate action events, such as mergers, spinoffs, distributions, bankruptcies, and called bond notifications. The Hub service provides coverage for the full range of U.S. and non-U.S. securities, including equities, ADRs, government and corporate bonds, and municipal bonds.

CCH INCORPORATED is a leading provider of business law information and software. The company tracks, reports, explains and analyzes federal, state and international law, producing approximately 700 print and electronic products. CCH is a wholly owned subsidiary of Wolters Kluwer U.S."

Hub Data, based in Cambridge, MA, is a wholly owned subsidiary of Advent Software. Hub offers a full suite of enterprise-wide data management solutions, including services for market data, security master file conversions and scrubs, and custodial data.

For more information or to license Advent Software products, readers can contact Advent Software, 301 Brannan Street, San Francisco, CA 94107; phone (415) 543-7696, or visit Advent’s web site at http://www.advent.com.

Advent Software, Inc. is a trademark of Advent Software. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.

SAN FRANCISCO, Nov. 24 /PRNewswire/ -- Advent Software, Inc. (Nasdaq: ADVS - news), today announced that it has acquired privately-held Hub Data Inc., a distributor of consolidated securities information and data to investment management organizations. Advent paid approximately $4.5 million for all the assets of Hub Data. The acquisition closed November 24, 1998. The company expects to incur a one-time write-off of in-process research and development and other expenses related to the acquisition in the quarter ending December 31, 1998. Hub Data's founder and President, Robert K. Huebscher, and all of the approximately 22 Hub Data employees are expected to remain with Advent following the acquisition.

Founded in 1990, Hub Data consolidates securities information and data from the industry's premier data providers including Muller Data, FT Interactive Data, J.J. Kenny, Merrill Lynch, First Data, Bond Buyer, INTEX Solutions, Northfield Information Services and Asset Backed Securities Group. Hub Data services a wide range of financial institutions via electronic interfaces to many industry portfolio software systems. Following the acquisition, Hub Data will continue to pursue innovative data partnerships with a wide variety of financial technology firms.

"Hub Data and Advent are a natural fit," said Stephanie DiMarco, Advent's chairman and CEO. "We are particularly excited about integrating the next generation of Hub Data's services into Advent Office and to providing our 5,400-plus clients with the ability to access consolidated securities information and data on more than 2.3 million taxable and non-taxable securities over the Internet. Adding the ability to provide sophisticated data sets from multiple sources in a single, easily accessible format will make Advent Office an even stronger enterprise investment management solution. This confluence of information and applications, facilitated by the Internet, will provide real operational efficiencies for our clients."

"We are excited to be joining the Advent team," said Huebscher, Hub Data President. "With Advent's financial strength and extensive industry presence, we are positioned to pursue new opportunities with Hub Data's existing client base and significantly accelerate our growth through access to Advent's clients. Hub will equally serve the data needs of institutional investors, regardless of which portfolio system they use to manage their assets."

"Hub Data provides Advent with immediate access to technology that delivers quality securities information and data to financial institutions," DiMarco continued. "We are also pleased to continue to further diversify Advent's revenue streams through the recurring revenue model presented by this acquisition."

Hub Data is located in Cambridge, Mass. and delivers services to over 240 institutional investment firms. Additional company information is located at www.hubdata.com.

Advent Software, Inc. is a leading provider of enterprise investment management solutions, offering stand-alone and client/server software products, data interfaces, and related services that automate and integrate mission-critical functions of investment management organizations. The company provides a suite of complementary products for the front, middle and back offices of investment management organizations. The Advent Office™ software suite consists of Axys™, the industry standard portfolio management system; Qube®, a client relationship management solution; Moxy®, the most widely used intra-day order management solution; Advent Warehouse™, the world's first investment warehouse management solution; Advent Partner™, a partnership accounting solution; Rex™, the industry's first Internet-based automated reconciliation solution; and Advent Browser Reporting, the industry's first Internet-based portfolio, performance and analytic reporting solution. Advent has licensed its products to more than 5,400 financial institutions in 22 countries for use by more than 30,000 concurrent users. The company's common stock is traded on the Nasdaq National Market under the symbol ADVS.

The forward looking statements included in this press release, which reflect management's best judgment based on factors currently known, involve risks and uncertainties including the successful development and market acceptance of new products and product enhancements, fluctuations in the financial markets and other risks detailed from time to time in the company's SEC reports, including the Report of Form 10-K for year ended December 31, 1997. Actual results may differ materially.