ASSET PURCHASE AGREEMENT







                                  BY AND AMONG







                      LONDON BRIDGE SOFTWARE HOLDINGS PLC,







                     LONDON BRIDGE ACQUISITION COMPANY, INC.







                                       AND







                        PHOENIX INTERNATIONAL LTD., INC.







                          DATED AS OF OCTOBER 25, 2000











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                                TABLE OF CONTENTS



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ARTICLE I PURCHASE AND SALE.......................................................................................2



   Section 1.1        Agreement to Purchase and Sell..............................................................2

   Section 1.2        Assets......................................................................................2

   Section 1.3        Excluded Assets.............................................................................4

   Section 1.4        Assumption of Assumed Liabilities...........................................................6

   Section 1.5        Excluded Liabilities........................................................................6

   Section 1.6        New Zealand Share Option....................................................................8



ARTICLE II PURCHASE PRICE; ADJUSTMENTS; ALLOCATIONS...............................................................8



   Section 2.1        Purchase Price..............................................................................8

   Section 2.2        Payment of Purchase Price...................................................................8

   Section 2.3        Adjustment of Purchase Price................................................................9

   Section 2.4        [Intentionally omitted.]...................................................................10

   Section 2.5        Allocation of Certain Items................................................................10



ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE SELLER.........................................................11



   Section 3.1        Organization...............................................................................11

   Section 3.2        Authorization..............................................................................11

   Section 3.3        No Conflict................................................................................12

   Section 3.4        Required Filings and Consents..............................................................13

   Section 3.5        Compliance.................................................................................13

   Section 3.6        SEC Filings, Financial Statements..........................................................13

   Section 3.7        Absence of Certain Changes or Events.......................................................14

   Section 3.8        Taxes......................................................................................15

   Section 3.9        Real Property..............................................................................16

   Section 3.10       Assets.....................................................................................16

   Section 3.11       Existing Seller Projects...................................................................17

   Section 3.12       Litigation.................................................................................17

   Section 3.13       Assumed Contracts..........................................................................18

   Section 3.14       Information Supplied.......................................................................20

   Section 3.15       Employee Benefit Plans.....................................................................20

   Section 3.16       Labor and Employment Matters...............................................................21

   Section 3.17       Environmental Compliance and Disclosure....................................................23

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