Exhibit 99.1

FOR IMMEDIATE RELEASE

                                                                        Contact:
                                                                   Daniel Briggs
                                  Vice President, Finance and Investor Relations
                                                                  (212) 907-6134

                                                           The BISYS Group, Inc.
                                                                     (NYSE: BSG)
                                                                   www.bisys.com



          BISYS(R)ANNOUNCES RECEIPT OF CONSENT AND WAIVER UNDER SENIOR
                           UNSECURED CREDIT FACILITY


NEW YORK, N.Y. (June 14, 2005) -- BISYS announced today that it has obtained a
consent and waiver from the lenders under its Senior Unsecured Credit Facility
(the "Credit Facility"). The consent and waiver relates to the default under the
Credit Facility that occurred when the Company was unable to file on a timely
basis its Form 10-Q for its third fiscal quarter ended March 31, 2005, and to
deliver the related compliance certificate for that fiscal quarter. The filing
of this quarterly report is being delayed pending completion of the previously
disclosed investigation being conducted by the Company's Audit Committee.

Under the terms of the consent and waiver, the cure period for the default with
respect to the filing of the aforementioned Form 10-Q and the delivery of the
related compliance certificate has been extended to August 1, 2005. In addition,
the Company has agreed that it will not request additional credit extensions
under the Credit Facility (except for renewals of outstanding letters of credit)
during the extension period.

The Company believes that its operating cash flows and cash on hand will be
sufficient to support its near term working capital and other cash requirements,
and that additional credit under the Credit Facility will not be necessary
through the extension date.


                                     -more-



About BISYS

The BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that enable
investment firms, insurance companies, and banks to more efficiently serve their
customers, grow their businesses, and respond to evolving regulatory
requirements. Its Investment Services group provides administration and
distribution services for mutual funds, hedge funds, private equity funds,
retirement plans and other investment products. Through its Insurance Services
group, BISYS is the nation's largest independent wholesale distributor of life
insurance and a leading independent wholesale distributor of commercial
property/casualty insurance, long-term care, disability, and annuity products.
BISYS' Information Services group provides industry-leading information
processing, imaging, and back-office services to banks, insurance companies and
corporate clients. Headquartered in New York, BISYS generates more than $1
billion in annual revenues worldwide. Additional information is available at
www.bisys.com.


Except for the historical information contained herein, the matters discussed in
the press release are forward-looking statements within the meaning of the
safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and uncertainties that may
cause actual results to differ materially, including but not limited to
economic, competitive, governmental and technological factors affecting The
BISYS Group, Inc.'s operations, markets, services and related products, prices
and other factors discussed in The BISYS Group, Inc.'s periodic filings with the
Securities and Exchange Commission.


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