Reynolds and Reynolds Announces Closing of Merger With Universal Computer Systems

DAYTON, Ohio, Oct. 26 - The Reynolds and Reynolds Company (NYSE: REY) today announced that its merger with Universal Computer Systems Inc. has closed.

Reynolds shares will be de-listed from the New York Stock Exchange effective with the opening of business on October 27, 2006.

The company also announced that Fin O'Neill, Reynolds' president and CEO, will be Vice Chairman, Office of the CEO, for the merged company. He will be responsible for helping lead the integration of the two companies and helping ensure that customer voices are heard and reflected in Reynolds' policies and procedures, as well as in products and services.

Robert Brockman will serve as Chairman, Office of the CEO, for the new company.

"My new title is different from what we had announced previously," O'Neill said. "But the more Mr. Brockman and I talked, the clearer it became to both of us that it would be more beneficial and efficient for Mr. Brockman to concentrate on key issues such as leveraging the research and development capabilities of both companies and getting familiar with day-to-day operational details, while I focus on what I identified as the number one priority when I joined Reynolds 20 months ago -- our customers.

"I want to ensure that we continue to listen to the voice of our customers, and that we demonstrate to our customers that we will treat them as well after the merger as before the merger. As I have said many times, the merger is about the value of the Reynolds brand and all that it implies for customers," he said.

As announced on August 8, 2006, under the terms of the agreement with UCS, holders of Reynolds Class A common stock will receive $40 per share in cash. The transaction is valued at approximately $2.8 billion, including the assumption of Reynolds debt. Reynolds shareholders will receive a letter of transmittal with instructions advising them on how to send in their share certificates.

The combined company will continue to be named The Reynolds and Reynolds Company, with the products and services of both Reynolds and UCS marketed under the Reynolds brand. Reynolds will continue to have headquarters and principal operations in Dayton, Ohio.