Russell Names New Head for U.S. Mutual Fund Business (Russell.com)

Russell Names New Head for U.S. Mutual Fund Business
Greg Stark Selected to Manage Rapid Growth

TACOMA, Wash. — December 13, 2004 — Russell Investment Group, a global leader in multi-manager investing, announced today the appointment of Greg Stark as managing director for U.S. Individual Investor Services. Stark, a 10-year Russell veteran, will succeed Len Brennan who is leaving the company to pursue new career opportunities. In addition to management responsibilities for U.S. Individual Investor Services, Stark will join Russell's Executive Committee. The appointment is effective immediately, and Stark will report to Craig Ueland, president and CEO of Russell.

"Greg has worked closely with Len during the past decade at Russell and has played a key role in the development and growth of our global distribution network, in particular our U.S. distribution business," said Ueland. "He is well placed to continue the excellent results we are seeing in the U.S. market, and I have high expectations for his leadership of this important area of our business."

Russell's U.S. Individual Investor Services business has grown 82% in the past two years.¹ Russell currently works with more than 250 financial intermediaries in the United States, including Registered Investment Advisors (RIAs), and financial representatives from Northwestern Mutual, A.G. Edwards and Raymond James.

Brennan leaves Russell after 20 years of distinguished service. His achievements include pioneering Russell's first investment management distribution relationship outside the United States and leading the international business through a period of strong growth. During the past decade, Brennan oversaw the addition of major new distribution relationships for Russell in both U.S. and non-U.S. markets. In 2003, Brennan was awarded the company's prestigious George F. Russell Achievement Award for Entrepreneurial Leadership.

"We wish Len all the best in his new endeavors and thank him for his significant contributions during his two decades with Russell," said Ueland. "He helped create a vibrant, highly competitive business and a strong team of experienced and capable associates to continue this growth."

Stark assumes this new role after serving most recently as managing director, client sales and service, U.S. Individual Investor Services. For the past four years, he has overseen the distribution of Russell's multi-manager funds though alliances with registered investment advisory firms, banks and trust companies, broker-dealers, and insurances companies.

"I'm proud to be inheriting a seasoned team that will continue to pursue our growth strategy by broadening Russell's reach in delivering financial security for people," said Stark.

Prior to June 2000, Stark spent two years in Japan where he led the formation of Russell's investment management services group in this market. In this role, he was responsible for developing and managing Russell's multi-manager investment funds business in Japan — encompassing retail, institutional and defined contribution markets.

Stark joined Russell in 1994 in the company's Toronto office, where he was a client service associate. In 1997, he was appointed director of Russell's high net worth investment management program, Sovereign Investment Program, an alliance between Russell and Royal Bank of Canada Dominion Securities.

Contact: Steve Claiborne (253) 594-1858

¹ Since December 31, 2002 and as of November 30, 2004

Russell Investment Group is a registered trade name of Frank Russell Company, a Washington, USA corporation, which operates through subsidiaries worldwide. Frank Russell Company is a subsidiary of The Northwestern Mutual Life Insurance Company.

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