Survey of Pension Fund Consultants
Russell's Consulting Business Leads the Industry for Total Assets Represented

TACOMA, Wash. — June 2, 2004 — Russell's pension fund consulting business continues to rank first in the financial services industry for total assets represented, according to a new survey by Thompson Nelson Information.

The 2004 Pension Fund Consultant Survey ranks firms by assets represented, number of client relationships and average sponsor asset size. The survey focuses on the 205 consulting firms which offer traditional consulting services. In order to be eligible a firm must provide consulting services such as traditional asset allocation, performance measurement and manager search services.

Russell advises clients worldwide representing more than $1.8 trillion in assets. The company's consultants provide about 420 clients with a wide range of asset advisory services.

"This recognition from the Nelson survey reflects Russell's broad influence in the institutional investment community," said Monica Butler, managing director of Russell's U.S. consulting group. "We've been fortunate to work with and guide so many of the large investment funds, and to add value where they need it."

About Russell
Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages more than $107 billion in assets and advises clients worldwide representing more than $1.8 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.




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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