Russell Announces Four New Institutional Clients Seeking Multi-Manager Solutions (Russell.com)

Russell Announces Four New Institutional Clients Seeking Multi-Manager Solutions

TACOMA, Wash. — May 11, 2005 — Russell Investment Group, a global leader in multi-manager investment services, today announced the addition of four new institutional investment clients who will be using its objective multi-manager investment strategies and comprehensive outsourcing solutions. Alaska Teamster Employer Pension Fund, Foamex International Inc., Tiffany & Co., and University Medical Associates of the Medical University of South Carolina have hired Russell to manage their respective defined benefit plans amounting to a combined total of nearly $1 billion.

"Institutions need a trusted partner who can help them make their assets work harder while meeting their fiduciary obligations," said Paul Reynolds, managing director, institutional investment services, Russell Investment Group. "We are excited that these four firms have picked Russell as that trusted advisor. We look forward to a long partnership as we implement their long-term strategy."

During the first quarter of 2005, Russell attracted $3 billion in new assets from institutional clients, including $1.2 billion from North American clients, $800 million from clients in the Europe, Middle East and Africa region, and $1.0 billion from clients in the Asia/Pacific region.

Alaska Teamster Employer Pension Trust has employed Russell's advisory and investment management services in a full service, integrated package. For over 50 years, the Anchorage-based Alaska Teamsters has dedicated itself to the workers of Alaska, helping them to achieve fair and equitable working conditions.

Foamex International, Inc. has employed Russell for investment management services. Foamex, based in Auburn, Indiana, is the leading producer of comfort cushioning for bedding, furniture and automotive markets, as well as technical foams for industrial needs.

New York City-based Tiffany & Co. has employed Russell for investment management services. Tiffany & Co. operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations.

University Medical Associates of The Medical University of South Carolina has employed Russell's advisory and investment management services in a full service, integrated package. Based in Charlestown, South Carolina, the University Medical Association provides health services ranging from preventative care to wellness and highly specialized care.

About Russell
Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in more than 39 countries. Russell manages more than $133 billion in assets as of March 31, 2005, and advises clients worldwide representing more than $2.3 trillion. The company is ranked for the first time in the top five of DALBAR's 2004 Financial Professionals "General Opinion" survey and is ranked second on the Great Place To Work Institute's 2004 list of Best Small & Medium Companies to Work for in America.

Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo.

Contacts:
Steve Claiborne - 253.594.1858
Matt Burkhard - 718.875.2122

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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