Russell Launches 'Focused Giving' Campaign (Russell.com)

Russell Launches 'Focused Giving' Campaign
$1 Million Dedicated to Programs that Support Financial Literacy and Children

Tacoma, WA — Feb. 23, 2006 — Russell Investment Group has awarded $250,000 and committed another $750,000 in 2006 to a new "focused giving" initiative. Grants will be given to organizations that focus on financial literacy and/or children.

"Committing new philanthropic dollars to the focused giving initiative gives Russell more opportunities to make a real difference in the communities where we work and do business around the world," said CEO Craig Ueland. "Our focus on financial literacy extends our purpose of improving financial security for people to a broader group of people worldwide, ranging from teenagers in the Puget Sound region who are just learning the value of money to women launching small businesses in developing countries."

The following seven organizations received Russell's initial "focused giving" grants that combined total $250,000. The first four programs focus on financial literacy and the final three target children.

Associated Ministries: $25,000 to fund a planning process for the new Pierce County Asset Building Coalition. This coalition will promote strategies to benefit low-income families such as filing for tax credits and fighting predatory lending practices.
CHOICES: $50,000 to offer this program that has proven successful in other areas to teenagers in Pierce County. Through CHOICES, middle school students learn by role-playing real life situations that involve school, career, time management and money.
United Way of King County: $50,000 to increase credit counseling and debt management for low-income clients of an already successful asset-building program. Through individual development accounts, clients save for a home, business or education. This grant will specifically address the obstacles of debt and credit histories.
Women's Enterprises International: $50,000 for a women's micro-credit program in Bolivia. This program assists women from rural villages who form collectives to borrow funds and build small businesses. Repaid funds are then loaned to others.
Alliance for Education: $50,000 for a family literacy program serving pre-school children and their families in South Seattle neighborhoods. This program aims to improve the readiness for these children to learn by the time they enter kindergarten.
Pierce County Reading Foundation: $10,000 to help launch this new agency that will promote academic success by encouraging every family to read to their children for 20 minutes daily from birth.
Make A Wish—Japan: $15,000 to help the agency fulfill extraordinary wishes for children with terminal diseases.

"Funding programs that improve conditions for children builds a better future for us all," said Ueland. "It also aligns with one of Russell's core values of genuinely focusing on people, including their families and communities."

Russell's focused giving initiative originated in 2005 through an all-associate survey and open forums with associates in offices around the world. Although specific non-profit organizations were not identified initially, the company decided that, under the umbrella of financial literacy, it would focus on organizations and initiatives that support retirement savings, consumer credit and finance, asset accumulation strategies and "micro" lending opportunities. Similarly, the company would support organizations that focus on the following children's issues: health and nutrition, supportive social and cognitive environments, child-friendly/safe homes and education.

"In the focused giving initiative, Russell aims to support significant new endeavors and improve the effectiveness of strong existing programs," said Julia Garnett, community development manager. "We chose these opportunities because of need, potential impact, associate interest and alignment with Russell's purpose."

Garnett, who joined Russell last October after serving as director for the Cultural Council of Greater Tacoma, added, "While we're devoting more charitable dollars to financial literacy and children, Russell also is increasing its corporate giving as a whole. In other words, the company is increasing the size of its corporate giving pie in order to give a larger slice to programs dedicated to financial security and children."

Eventually, the focused giving campaign will see as much as 40% of Russell's total annual giving program earmarked for causes that focus on financial literacy and children.

Philanthropy is basic to Russell's corporate responsibility, demonstrated by the company's commitment to contribute 1.5% of pre-tax operating income to charitable organizations worldwide. The company's philanthropic approach is marked by employee empowerment. Russell encourages associates worldwide to give of their time and talent to serve community needs and matches associates' contributions of dollars and time in many locations in which it operates.

About Russell
Russell Investment Group, a global leader in multi-manager investing, provides investment products and services in 44 countries. Russell manages more than $155 billion in assets and advises clients worldwide representing more than $2.4 trillion. 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, Sydney, Singapore, Auckland and Tokyo.

Contact:
Steve Claiborne, 253-439-1858

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.

RC#4376