MECA Software, L.L.C. -- a consortium owned by Bank of America, NationsBank, First Bank System, Fleet Financial Group, Royal Bank of Canada, Citibank -- and Sun Microsystems, Inc., have formed an alliance to develop Java™-based software for financial institutions, designed to support wide-spread access for end users to financial services.

MECA's solutions will complement the Sun™ Connect™ architecture, which includes built-in security features, a rapid application development environment and Java's Write Once, Run Anywhere™ feature set.

By combining these features with MECA's expertise in PC- and Internet-based financial management solutions, financial institutions will be able to offer their customers a new generation of tailored, easy-to-use network-based financial products branded under the institution's name, and at the same time better improve their ability to manage customer relationships.

In addition to delivering components of personal financial management tools such as planning calculators, registers, electronic bill payment and inquiry applications on demand over the Internet, the systems will enable an institution to personalize and customize its products and services individually for each account holder.

The Sun Connect architecture permits such functionality to be network-based and deployable on any type of end-user device -- from home PCs to network computers, telephones, kiosks or ATMs -- unlike today's PC-based personal financial management packages.

With the new products, institutions can leverage a common development investment across multiple delivery channels and can take advantage of the industry's leading specifications for online transactions, including Open Financial Exchange (OFX), Integrion's GOLD and other messaging specifications.

"Consistent with our strategy to provide financial services institutions with state-of-the-art consumer solutions for the delivery of electronic services, MECA and Sun will be developing network-based applications that leverage the opportunities presented in an electronic financial services environment," said Paul D. Harrison, president and C.E.O., MECA.

"These value-creative opportunities for the financial institutions include growing revenues and enhancing shareholder value by increasing the retention of profitable customers, acquiring new customers and preserving and maximizing investments in legacy systems."

Building The Brand

MECA provides financial institutions with branded and customized software enabling electronic access to financial programs. Together, Sun and MECA will build simpler, "net-focused" offerings that allow a financial institution to better serve existing and new classes of clients and to build its brand.

"Sun and MECA respect the institution's relationship with its customers and will help the institution enhance this relationship and build its brand," said Scott McNealy, president and C.E.O., Sun Microsystems, Inc.

"We also understand the complex back-end environment that's critical to implementing successful electronic delivery solutions, and we're going to help the institution leverage its investment in existing IT infrastructure."

Legacy Integration to Secure Delivery

The Sun Connect architecture combines the tools and best-of-breed partnerships needed to develop banking, brokerage and other web applications, addressing security, legacy integration, transaction services and scalability.

"We are excited about the evolution of MECA's products to the Java environment and look forward to exploring the capabilities of such network-distributable financial services applications as a part of our core infrastructure. The collaboration between Sun and MECA has the potential to add significant value to our operations," said Robert B. Hedges, Jr., senior vice-president, Fleet Financial Group, an owner of MECA.

A number of leading organizations in the technology and financial services industries, including BEA Systems, Netscape, New Era of Networks, Inc. (NEON), TIBCO and Oracle are working with Sun on the Sun Connect architecture.

About MECA Software

MECA Software, L.L.C., a 350 employee firm, jointly owned by Bank of America, NationsBank, First Bank System, Fleet Financial Group, Royal Bank of Canada, Citibank and The New England, is the leader and "partner of choice" when it comes to the design, development and execution of customized software and service solutions for the electronic delivery of financial products and services.

MECA offers branded software solutions which enable financial services providers to offer their customers electronic access to a broad array of financial product and services offerings, including conceptualizing and product analysis, custom development, manufacturing and fulfillment, technical support, training and marketing.

About Sun Microsystems

Since its inception in 1982, a singular vision, "The Network Is The Computer™," has propelled Sun MicroSystems, Inc., (NASDAQ:SUNW), to its position as a leading provider of hardware, software and services for establishing enterprise-wide intranets and expanding the power of the Internet. With more than $8.5 billion in annual revenues, Sun can be found in more than 150 countries and on the WorldWide Web at http://www.sun.com .