Commenting on his receipt of the 2008 FEOY award Mr

Bob is the co-developer,along with the late Fischer Black, of the Black-Litterman Global AssetAllocation Model, a key tool in the Investment Management Division's assetallocation process. Prior to moving to the Investment Management Division, Bobwas head of the firm wide Risk Department. Preceding his time in theOperations, Technology & Finance Division, he spent eight years in the FixedIncome Division's research department, where he was co-director. Beforejoining the firm in 1986, Bob was an assistant vice president in the ResearchDepartment of the Federal Reserve Bank of Minneapolis and an assistantprofessor in the Economics Department at the Massachusetts Institute ofTechnology Bob is a member of the board of the World Wildlife Fund. He earneda BS in Human Biology from Stanford University in 1973 and a PhD in Economicsfrom the University of Minnesota in 1980.Commenting on his receipt of the 2008 FEOY award, Mr.

Litterman said, "I havebeen fortunate to learn from some of the brightest minds in economics andfinance at the University of Minnesota, at MIT, in the Federal Reservesystem, and working with Fischer Black and many others on Wall Street.My ownmodest role was to help develop practical applications in global assetallocation, risk management, term structure modeling, economic forecasting,and asset management."David Rowe, executive vice president, risk management at SunGard, said,"Robert Litterman is best known for the Black-Litterman Model that hedeveloped with the late Fischer Black while both were at Goldman Sachs.Themodel allows an investor to combine unique individual forecasts with marketequilibrium returns to form an intuitive well diversified portfolio.Thespirit of the model reflects Litterman's earlier work in Bayesianeconometrics.During a time when we have all been reminded that statisticsmust be combined with expert judgment, it is very appropriate that RobertLitterman should be named the 2008 IAFE Financial Engineer of the Year. SunGard is proud to continue its role as the long-standing sponsor of thisaward." The annual IAFE/SunGard FEOY Award, established in 1993, recognizes individualcontributions to the advancement of financial engineering technology. Myron Scholes, an IAFE senior fellow and FEOY lifetimeachievement award recipient.Previous Award RecipientsMr. Litterman joins a prestigious list of recipients of the IAFE/SunGardFinancial Engineer of the Year Award.

They include: Jack Treynor, Jim Simons,Phelim Boyle, Oldrich Alfons Vasicek, Darrell Duffie, Jonathan Ingersoll,Andrew Lo, Emanuel Derman, John Hull, John C. Cox, Robert Merton, FischerBlack, Mark Rubinstein, Stephen Ross, and Robert Jarrow Myron Scholesreceived a lifetime achievement award in 2001. About the International Association of Financial Engineers (IAFE)The IAFE is the not-for-profit, professional society dedicated to fosteringthe profession of quantitative finance by providing platforms to discusscutting-edge and pivotal issues in the field. Founded in 1992, the IAFE iscomposed of individual academics and practitioners from banks, broker dealers,hedge funds, pension funds, asset managers, technology firms, regulators,accounting, consulting and law firms, and universities across the globe.Through frank discussions of current policy issues, sponsoring programs toeducate the financial community and recognizing the outstanding achievementsin the field, the IAFE acts as a beacon for the development of quantitativefinance. Throughout its history, the IAFEs pre-eminent leadership haspositioned it to respond with savvy to the evolving needs of the financialengineering community. The IAFEs programs - from area-specific committees tomonthly panel discussions to the Financial Engineer of the Year Award - aredesigned to provide its members with uniquely valuable activities to enhancetheir work in the field and opportunities to network and socialize with theircolleagues.About SunGardWith annual revenues of $5 billion, SunGard is a global leader in software andprocessing solutions for financial services, higher education and the publicsector.SunGard also helps information-dependent enterprises of all types toensure the continuity of their business.SunGard serves more than 25,000customers in more than 50 countries, including the world's 25 largestfinancial services companies.Visit SunGard at Information: SunGard and the SunGard logo are trademarks orregistered trademarks of SunGard Data Systems Inc or its subsidiaries in theU.S. and other countries.All other trade names are trademarks or registeredtrademarks of their respective holders.