Russell Retirement Services Continues Expansion With New Institutional Sales Appointments Tacoma, Wash. — April 18, 2006 — Russell Investment Group announced two new appointments to its retirement services business: Doug Byrkit and Graham Seagraves have joined in the newly created positions of institutional defined contribution (DC) regional sales directors, responsible for direct sales to large DC plans. Byrkit, based in Tacoma, will cover the Western region and Seagraves, based in Charlotte, N.C., will have responsibility for the Eastern region. Both report to Bart Miller, director of sales, Russell Retirement Services. "Doug and Graham are key additions to our team as we continue to aggressively expand our presence in the DC market," said Miller. "They bring with them a history of sales experience and I am confident in the contribution they will make to our commitment to the DC space." Byrkit joins Russell from Mellon Analytical Solutions where he was director of US sales and marketing and managed the national sales team in addition to providing oversight and direction for sales recruitment and training. He initially joined Mellon as a client executive responsible for selling performance measurement tools to investment managers in 24 states throughout the Midwest and Southern US. Prior, he was a senior account executive at Gartner, Inc. where he sold research and consulting engagements to senior executives. Seagraves joins Russell from OFI Institutional Asset Management where he was regional sales director with responsibility for the Southeast and Mid-Atlantic. In this role he represented institutional investment funds to corporate and public pension plans. Prior, he was national sales director for Global Distribution Strategies where he developed sales strategies and built wholesaling teams for two money management clients: Whitehall Asset Management and Caterpillar Investment Management Ltd. Russell Retirement Services, a Russell Investment Group business unit, delivers Russell's lifestyle and lifecycle funds -- LifePoints® Funds -- directly to DC plan sponsors as well as to financial professionals advising DC plans via some of the country's top platforms. The group was formed in response to increasing demand for Russell's multi-manager solutions, which enable plan sponsors to give 401(k) plan participants unrivaled access to some of the world's best money manager's though Russell's objective, institutional-quality approach. About Russell Russell Investment Group, a global leader in multi-manager investing, provides investment products and services in more than 44 countries. Russell manages more than $167 billion in assets for advisory clients as of March 31, 2006. In 2006, and for the fifth time since 1999, Russell is ranked among the Fortune Magazine's 100 Best Companies to Work For in America. Contacts: Jennifer Tice, 253-439-2921 Kerstin Parkel, 718-875-2121 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. Fund objectives, risks, charges and expenses should be carefully considered before investing. A prospectus containing this and other important information can be obtained by calling (800) 787-7354 or visiting www.russell.com. Please read the prospectus carefully before investing. The LifePoints® Funds are exposed to the risks of the underlying fund proportionately to their underlying fund allocation. Investment in LifePoints® Funds involves direct and indirect expenses which together can be higher than those incurred when investing directly in an underlying fund. Currently, direct operating expenses, other than distribution fees, shareholder servicing fees and non-recurring and extraordinary expenses, are waived or reimbursed by Frank Russell Investment Management Company. Russell Fund Distributors, Member NASD RFD 06-5932 First used: April 2006

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