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Lloyd "Buzz" Waterhouse Resigns from Reynolds and Reynolds

July 7, 2004

DAYTON, Ohio -- The Reynolds and Reynolds Co. announced that Lloyd "Buzz" Waterhouse, chief executive officer, chairman and president, has resigned from the company and its board of directors, effective immediately.

Current director Philip Odeen, will become chairman and acting chief executive officer. Odeen is former chairman of TRW Inc. and serves as lead director of Reynolds' board of directors.

Executive vice president and chief financial officer Dale Medford will be the chief administrative officer. Reporting to Medford are Sales, Marketing, Document Solutions, Finance, Investor Relations and Supply Management.

Vice president of corporate operations Douglas Ventura will become acting executive vice president of operations. Reporting to Ventura are Reynolds Services Group, Reynolds Software Solutions, Reynolds International, Business Development, Legal, Communications and Human Resources.

"Buzz has made significant contributions to Reynolds since he joined the company in 1999, and we wish him well," Odeen said. "We will begin immediately to conduct a search to fill the CEO position."

"I've truly enjoyed serving as CEO of Reynolds and Reynolds," Waterhouse said. "With a solid strategy and a strong management team in place, it's the right time for me to move on and spend more time with my family. I wish Reynolds and Reynolds continued success in the future."

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