Russell to Launch Microcap Style Indexes (Russell.com)

Russell to Launch Microcap Style Indexes

Tacoma, WA — April 26, 2006 — Russell Investment Group plans to launch the Russell Microcap™ Growth Index and Russell Microcap™ Value Index at the end of June. These indexes will serve as style counterparts to the Russell Microcap™ Index, which was introduced last June.

"Our research confirms there is a real need for truly representative style benchmarks for microcap managers," said Steve Swartley, senior manager research analyst. "The performance of microcap stocks in the past three years alone shows a distinct difference between growth and value stocks in this dynamic market segment. This performance gap is important as most microcap managers have a style bias toward growth or value."

Manager Averages	2005	2004	2003
Russell's Universe of Microcap Growth Managers	12.6%	11.1%	74.3%
Russell's Universe of Microcap Value Managers	9.4%	26.8%	51.5%

The Russell Microcap Index measures the microcap segment of the U.S. equity market, which as of the last reconstitution included stocks ranging from $54.8 million to $539.5 million. The median market capitalization for this index, which represents about 3% of the equity market, is $182.6 million.

Those stocks in the Russell Microcap with higher price-to-book ratios and higher forecasted growth values will be included in the Russell Microcap Growth Index, while those stocks with lower price-to-book ratios and lower forecasted growth values will comprise the Russell Microcap Value Index. For more background on Russell's style methodology, please see the in-depth description posted on http://www.russell.com/US/Indexes/US/methodology.asp.

With the addition of these two indexes, Russell's suite of U.S. indexes will increase to 26. Russell employs its indexes to evaluate investment managers for multi-manager funds and other investment services. More than $3.8 trillion in assets are benchmarked to them.

About Russell
Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in 44 countries. Russell manages more than $167 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, Singapore, Sydney, 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.

Indexes and benchmarks are unmanaged and cannot be invested in directly.

RC#4400