Russell Investment Group announces new relationship with Schwab Institutional (Russell.com)

Russell Investment Group announces new relationship with Schwab Institutional
Advisors gain access to integrated offering to help grow their businesses and serve clients' needs

TACOMA, Wash. — June 20, 2005 — Russell Investment Group today announced an agreement with Schwab Institutional where effective immediately, investment advisors who custody their assets with Schwab can access Russell's fee-based, mutual fund asset allocation product, Russell Asset Management Program (RAMP). By leveraging the core strengths of Russell and Schwab Institutional in one package, independent advisors affiliated with Schwab have a one-stop convenience in accessing multi-manager managed account services to their clients.

"Advisors focusing on wealth management understand too well the sometimes conflicting challenges of managing business growth and dedicating time and resources to the one-on-one management of client portfolios," said Greg Stark, managing director, Russell U.S. Individual Investor Services. "By working together, Russell and Schwab are delivering a quality, end-to-end investment product — including a comprehensive brokerage platform; business planning and development support; and manager research and selection complemented by a full range of asset allocation and portfolio management tools. This program is aimed at fully equipping advisors to meet today's challenges head on."

RAMP utilizes the same multi-manager investment approach Russell offers its institutional clients, packaged in strategically diversified portfolios that can be tailored for a client's risk profile. The Model Strategies have the choice of three investment strategies — Model Strategies, Tax-Managed Model Strategies and Select Model Strategies — each including five portfolios of Frank Russell Investment Company mutual funds for different levels of risk tolerance. Each investment strategy includes a selection of outside investment managers, all of which are objectively and rigorously researched and selected by Russell for specific style assignments within the strategy. RIAs can also create their own custom model portfolios. In addition, the Model Strategies provide complete operational support, automated rebalancing, comprehensive quarterly reporting, fee processing and management reporting.

"Schwab offers a capable technology platform and quality service capabilities for RIAs and their clients," added Stark. "Russell's managed account product — which accesses Schwab's open architecture without loss of investment quality control — allows advisors to enhance their service capabilities for a larger and increasingly diverse clientele."

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 of advisory assets as of March 31, 2005, and provides other financial advice to 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.

Contact:
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.

Russell Managed Portfolios is a trademark of Frank Russell Company. Frank Russell Investment Management Company is the sponsor of the Russell Managed Portfolios program.

The Russell Asset Management Program (RAMP) provides packaged, diversified mutual fund portfolios matched to an investor.s individual investment and risk tolerance parameters. Features include automatic rebalancing, comprehensive account statements, including performance information, and online account look-up and proposal generation. Frank Russell Investment Management Company (FRIMCo) is the sponsor of the Russell Asset Management Program.

RC 05-5136