RNS Number:2246O
SunGard Data Systems Incorporated
01 August 2003

                                        EMBARGOED UNTIL 07.00am on 1 August 2003



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
                   UNITED STATES, AUSTRALIA, CANADA OR JAPAN




                             Recommended Cash Offer
                                       by
                        Citigroup Global Markets Limited
                                  on behalf of
                          a wholly owned subsidiary of
                           SunGard Data Systems Inc.
                                      for
                           Sherwood International Plc



                  Level of acceptances and extension of Offer


SunGard Data Systems Inc. (SunGard) announces that as at 3.00p.m. (London time)
on Thursday 31st July, 2003, the first closing date of the recommended cash
offer (the Offer) made by a wholly owned subsidiary of SunGard, SunGard
Insurance Services Limited (the Offeror), for the entire issued and to be issued
share capital of Sherwood International Plc (Sherwood), valid acceptances of the
Offer had been received from the holders of, in aggregate, 22,574,990 Sherwood
Shares, representing approximately 48.55 per cent. of the issued share capital
of Sherwood.


Prior to making the Offer, SunGard and the Offeror had received irrevocable
undertakings to accept (or procure the acceptance of) the Offer in respect of,
in aggregate, 1,846,050 Sherwood Shares, representing approximately 3.97 per
cent. of the issued share capital of Sherwood.  Valid acceptances of the Offer
have been received in respect of all of the Sherwood Shares which were the
subject of such irrevocable undertakings and are included in the total number of
valid acceptances referred to above.


After making the Offer, the Offeror acquired in the market 13,700,000 Sherwood
Shares, representing approximately 29.46 per cent. of the issued share capital
of Sherwood.  These market purchases were carried out by Citigroup, acting as
agent for the Offeror.


Therefore, as at 3.00p.m. (London time) on 31st July, 2003, the Offeror had
acquired or had received valid acceptances of the Offer in respect of, in
aggregate, 36,274,990 Sherwood Shares, representing approximately 78.01 per
cent. of the issued share capital of Sherwood.


The Offer has been extended and will remain open for acceptance until 3.00p.m.
on Thursday 14th August, 2003.


Sherwood Shareholders who wish to accept the Offer, and have not yet done so,
should complete the Form of Acceptance (whether or not their Sherwood Shares are
held in CREST) enclosed with the Offer Document and return it, together with
supporting documents, to the receiving agents to the Offer, Capita IRG Plc, at
Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TH as
soon as possible but, in any event, so as to be received not later than 3.00p.m.
on Thursday 14th August, 2003.  Additional Forms of Acceptance are available
from Capita IRG Plc, by telephoning 0870 162 3100 (if calling from within the
UK) or +44 20 8639 2157 (if calling from outside the UK).


Save as disclosed in this announcement or in the Offer Document, neither SunGard
nor the Offeror, nor any persons acting or deemed to be acting in concert with
SunGard or the Offeror, held any Sherwood Shares (or rights over any Sherwood
Shares) prior to the Offer Period and neither SunGard nor the Offeror, nor
persons acting or deemed to be acting in concert with SunGard or the Offeror,
have acquired or agreed to acquire any Sherwood Shares (or rights over any
Sherwood Shares) since the commencement of the Offer Period.


Terms used in this announcement shall have the meaning given to them in the
Offer Document, save where the context requires otherwise.



Enquiries:


Citigroup Global Markets Limited
(financial adviser to SunGard and broker to the Offer)
Anthony Parsons                                             +44 (0)20 7986 4000
Simon Alexander



M: Communications
(public relations consultants to SunGard)
Martin Forrest                                              +44 (0)20 7153 1531
Nick Fox                                                    +44 (0)20 7153 1540



This announcement does not constitute an offer or invitation to purchase any
securities or a solicitation of an offer to buy any securities pursuant to the
Offer or otherwise.  The full terms and conditions of the Offer (including
details of how the Offer may be accepted) are set out in the Offer Document and
the Form of Acceptance.


Unless permitted by applicable law and regulation, the Offer is not being made,
directly or indirectly, in or into or by use of the mails of or by any means or
instrumentality (including, without limitation, telephonically or
electronically) of interstate or foreign commerce of, or by any other facilities
of, a national, state or other securities exchange of the United States, nor is
it being made, directly or indirectly, in or into Canada, Australia or Japan.
Accordingly, copies of this announcement and any related documents are not
being, and must not be, directly or indirectly, mailed or otherwise distributed
or sent in, into or from the United States, Canada, Australia or Japan and
persons doing so may render invalid any purported acceptance of the Offer.


The availability of the Offer to persons who are not resident in the United
Kingdom may be affected by the laws of their relevant jurisdiction. Sherwood
Shareholders who are not resident in the United Kingdom should inform themselves
about, and observe, any applicable requirements of their jurisdiction.


Citigroup, which is regulated in the United Kingdom by the Financial Services
Authority, is acting exclusively as financial adviser to SunGard and the Offeror
and no one else in connection with the Offer and will not be responsible to
anyone other than SunGard and the Offeror for providing the protections afforded
to customers of Citigroup, nor for providing advice in relation to the Offer.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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