Feb. 13, 2003 — Standard & Poor’s and BusinessWeek will jointly launch the first annual “Excellence in Fund Management Awards” in the U.S. by recognizing best-in-class equity and bond fund managers.

Portfolio managers that meet essential criteria, including setting themselves apart from their peers and leading their funds through various market conditions while keeping expenses down and staying within their objectives, will be selected.

The “Excellence in Fund Management Awards” program should also become “an important evaluation tool” for the financial community, the parties noted, since fund managers that have shown exceptional levels of leadership over the past five years, while consistently producing strong results, will be recognized.

The shared initiative will culminate with the announcement and profiles of the winners in BusinessWeek’s March 24 issue.

The complete methodology for the “Excellence in Fund Management Awards” selection will be accessible on Fund Advisor on March 14, as well as by going to www.standardandpoor’s.com and www.businessweek.com.