Press Releases

Broadridge Signs Neuberger Berman Broker-Dealer to Three-Year Clearing Services Contract

LAKE SUCCESS, New York – September 18, 2008 – Broadridge Financial Solutions, Inc. (NYSE: BR) announced today that Neuberger Berman, LLC -- a leading asset manager and one of the broker-dealer subsidiaries that is not part of the Lehman Brothers Holdings Inc. bankruptcy filing --- has signed a three-year contract with Broadridge for clearing services. Neuberger Berman, a registered introducing broker-dealer, will commence clearing through Broadridge’s Ridge Clearing on or about September 22nd. 

“Broadridge supports clients through changing and demanding business cycles with safe and rapid movement of customer assets,” said Richard J. Daly, Broadridge’s Chief Executive Officer.  “The speed with which we are able to convert these accounts in this environment demonstrates the fundamental strengths of our unique value proposition and the flexibility of our platform. Broadridge is capable of rapidly migrating a firm’s processing model as business needs change, whether it operates as a self-clearing firm or an introducing broker-dealer, while the firm remains on Broadridge’s processing system,” Mr. Daly concluded.

Broadridge said it believes Neuberger Berman’s business is a good fit for the low risk processing model of its Ridge Clearing business.  Broadridge also stated that it will not alter any risk policies for this, or any other transaction.

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About Broadridge

Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 14 countries.

For more information about Broadridge, please visit www.broadridge.com.

About Neuberger Berman
Neuberger Berman, LLC is an investment advisory company serving individuals, families, and taxable and non-taxable institutions with a broad range of investment products, services and strategies.  Neuberger Berman engages in wealth management services including private asset management, tax and financial planning, and personal and institutional trust services; and mutual funds, institutional management and alternative investments.  For further information about Neuberger Berman please visit www.nb.com.

Forward-Looking Statements

This press release and other written or oral statements made from time to time by representatives of Broadridge may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Statements that are not historical in nature, such as our fiscal year 2011 financial guidance, and which may be identified by the use of words like “expects,” “assumes,” “projects,” “anticipates,” “estimates,” “we believe,” “could be” and other words of similar meaning, are forward-looking statements.  These statements are based on management’s expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed.  These risks and uncertainties include those risk factors discussed in Part I, “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended June 30, 2010 (the “2010 Annual Report”), as they may be updated in any future reports filed with the Securities and Exchange Commission.  Any forward-looking statements are qualified in their entirety by reference to the factors discussed in the 2010 Annual Report.  These risks include: the success of Broadridge in retaining and selling additional services to its existing clients and in obtaining new clients; the pricing of Broadridge’s products and services; changes in laws and regulations affecting the investor communication services provided by Broadridge; declines in participation and activity in the securities markets; overall market and economic conditions and their impact on the securities markets; any material breach of Broadridge security affecting its clients’ customer information; the failure of Broadridge’s outsourced data center services provider to provide the anticipated levels of service; any significant slowdown or failure of Broadridge’s systems or error in the performance of Broadridge’s services; Broadridge’s failure to keep pace with changes in technology and demands of its clients; Broadridge’s ability to attract and retain key personnel; the impact of new acquisitions and divestitures; and competitive conditions. Broadridge disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contacts:

Rick Rodick

Broadridge Financial Solutions, Inc.

(516) 472-5474

 

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