S1 Interface VPAS® Systems Enables Institutions to Offer Variable Annuities, Life Insurance Products and Non-Qualified Employee Benefit Plans via the Web

S1 Corporation and McCamish Systems Forge Strategic Alliance to Deliver Transactional Online Insurance Solutions

ATLANTA--(BUSINESS WIRE)--November 26, 2001--S1 Corporation, a leading global provider of Enterprise eFinance solutions, today announced that it has forged a strategic alliance with McCamish Systems, L.L.C., a premier provider of business systems and services for the administration of life insurance, annuities and non-qualified employee benefit plans.

As part of this agreement, S1 and McCamish are building interfaces between S1 Insurance and McCamish's Variable Products Administration Systems (VPAS® Life and VPAS® Benefit Plan Administration) to extend personalized self-service and transaction processing capabilities to insurance companies, their policyholders and agents. The companies also are enabling banks to sell and service private-label insurance products online, empowering them to extend their service offerings to enhance customer relationships.

"To combat industry changes, leading insurance carriers will begin to build an e-Finance foundation that leverages preexisting internal systems and offers widespread access to internal and external users," said Kimberly Harris, senior analyst of Gartner. "The establishment of such a framework will ultimately provide competitive differentiation and help the organization to achieve their e-business and CRM goals."

Hank McCamish, founder and chairman of McCamish Systems noted, "Through S1 Insurance, we are creating a bridge between legacy back-end systems and our VPAS® products, enabling financial services companies to leverage cutting-edge insurance applications and obtain a consolidated view of their customers' accounts. This translates into superior service for their customers and increased revenue opportunity, all for a total lower cost of ownership."

Through S1 Insurance, agents and policyholders of McCamish client companies are able to review a wide range of policy details and change transactions via the Web such as: coverage and rider information; loan and beneficiary information; policy value and transaction history; premium history; fund allocations and changes and death benefits, among others. In a collaborative effort, S1 and McCamish also enable McCamish customers to offer online processing capabilities for investment transactions and policy changes.

"With S1 Insurance as the technology umbrella that facilitates communication between McCamish and any in-house or third party back-end system, financial services companies are able to present traditional and non-traditional insurance products easily and execute transactions for customers via the Web," said Gordon Sanders, vice president of global insurance at S1 Corporation. "As a result, financial services providers can reduce costs, increase revenues and strengthen customer loyalty."

McCamish Systems evolved from the McCamish Group, a corporate life product company that issued more than $1.8 billion in recurring premium life insurance in the five years from its inception. McCamish Systems has applied this expertise to the development of the VPAS® product line, currently utilized by many of the largest insurance companies in the United States.

S1 Insurance leverages an open architecture to empower financial services companies to deliver comprehensive annuities, life, property and casualty insurance services to their customers via the Web. At a reduced cost, financial service companies can allow consumers to obtain insurance quotes, purchase policies, submit claims, view current policies and make policy changes online. The product helps companies achieve greater customer satisfaction, expand its relationships with existing customers by cross-selling additional products and generate revenue by increasing leads and conversion rates.

About McCamish Systems, L.L.C.

McCamish Systems is a privately held company based in Atlanta, Ga. The Company's VPAS® (Variable Product Administration Systems) product family includes VPAS® Life and VPAS® Benefit Plan Administration as client/server based, relational database systems that are scalable, feature-rich and flexible enough to be customized to suit unique client requirements. McCamish provides its solutions in BPO (Business Process Outsourcing), Remote or License environments.

VPAS® Life supports administration of variable and fixed annuities, variable and fixed universal life, private placement products, and corporate and bank owned life insurance programs (COLI and BOLI). VPAS® Benefit Plan Administration provides recordkeeping capabilities for deferred compensation, SERP, Split Dollar and other non-qualified benefit plans. Additional information about McCamish Systems is available at www.mccamish.com.

About S1 Corporation

S1 is a leading global provider to more than 2,600 banks, credit unions, insurance providers, and investment firms of enterprise software solutions that turn customer interactions into profits. S1's Enterprise eFinance solutions deliver a transactionable, customer-centric view across all delivery channels, resulting in a more compelling experience for the customers and a more profitable relationship for the financial institution. S1 is the only eFinance provider with the proven experience, breadth of products, and financial strength to empower financial services companies' Enterprise eFinance strategy. Additional information about S1 is available at www.s1.com.

Forward Looking Statements

This press release contains forward-looking statements relating to results of operations, product features and availability, benefits of certain programs, market penetration and market strategies. Such statements are made based on management's beliefs as well as assumptions made by, and information currently available to, management, pursuant to "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements reflect our best judgment, they are subject to risks and uncertainties that could cause a change in focus and direction. A discussion of certain risk factors that may cause actual results to differ from these forward-looking statements can be found in S1's Annual Report on Form 10-K for the period ended December 31, 2000, on file with the SEC.

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For more information about McCamish Systems, please contact our Sales & Marketing group at Solutions@McCamish.com or call 800.366.0819.

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