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DST Systems Announces New Head of National Sales for Retirement Solutions

Mitch Horan brings extensive retirement and defined contribution sales experience.

March 20, 2003

KANSAS CITY, MO., MARCH 20, 2003 – DST Systems, Inc., the nation’s largest provider of mutual fund shareholder recordkeeping services, announces the hiring of Mitch Horan as National Sales Manager for DST’s Retirement Solutions organization. DST Retirement Solutions services nearly 3 million defined contribution participants for 37 major institutional clients and supports all major plan types and investment options required in today’s demanding defined contribution/retirement services marketplace.

Horan joins DST from Morgan Stanley, where for the past 11 years he has used his broad-based retirement plan background in a variety of positions in the firm’s Retirement Plan Services area. He spent the last seven years as Morgan Stanley’s National Sales Manager overseeing the delivery of defined contribution plan sales throughout the firm’s financial advisor and private client group networks.

In his new position with DST, Horan is focusing on sales of DST’s Retirement Solutions. The offering includes bundled services, a private label solution that provides all recordkeeping functionality; customized solutions that allow plan providers the opportunity to retain certain functions while outsourcing others; and a technology-only solution that allows plan providers access to DST’s technology without having to invest significantly in hardware and software. DST’s solutions are designed to accommodate any plan type, size, and investment vehicle.

“What drew me to DST was the ability to take leading-edge technology and a proven system solution to help companies deal with their outsourcing needs,” said Horan. “Outsourcing is in a growth phase in the marketplace and I believe it will continue to be for many years. DST maintains an outstanding reputation in the mutual fund industry and defined contribution marketplace, and I look forward to building on that.”

“Mitch brings a unique perspective to DST,” said Dave Ostermeyer, Director of Mutual Fund Sales. “He’s been on both the buyer and seller sides of defined contributions. His knowledge of the industry is an asset to us and our clients.”

Prior to Morgan Stanley, Horan worked in a number of financial services and mutual fund environments, including Prudential Securities, Furman Selz, and Alliance Capital Management. He holds a degree in business administration and marketing from Marist College in Poughkeepsie, NY.

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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