ADVISORY/IASB Ruling on Expensing Stock Options: AIMR Spokespeople Available for Comment.

Business Editors

ADVISORY...

--(BUSINESS WIRE)--AIMR

      WHAT: Two senior staff members at the global Association for
            Investment Management and Research (AIMR) are available
            for comment regarding the International Accounting
            Standards Board's (IASB) decision announced Thursday, Feb.
            19 to require companies that use international accounting
            standards to start expensing stock options beginning
            January 1, 2005.

            Similarly, the U.S. counterpart to the Financial
            Accounting Standards Board is expected to unveil a
            proposal to require U.S. companies to expense stock
            options before the end of March.

  POSITION: AIMR strongly believes that employee stock options
            are a form of compensation, that all compensation must be
            expensed on the financial statements, and that the ethical
            obligations of transparency, full disclosure, and serving
            investor interests require companies to expense stock
            options.

       WHO: Available to speak on this issue are:

            Rebecca McEnally, Ph.D., CFA, vice president of advocacy
            at AIMR. She oversees AIMR's advocacy efforts in North
            America, Europe and Asia, including representing the views
            of investment professionals on corporate financial
            reporting and disclosure. Prior to joining AIMR, Dr.
            McEnally taught financial reporting and financial
            statement analysis at UNC Chapel Hill, New York
            University, and Boston University.

            Patricia Doran Walters, Ph.D., CFA, senior vice president
            of professional standards and advocacy at AIMR. Her
            responsibilities include overseeing the development and
            promulgation of ethical standards for the investment
            industry, and advocating for improved corporate financial
            reporting and disclosure. Prior to joining AIMR, Dr.
            Walters taught financial reporting and financial statement
            analysis at New York University, City University of New
            York, Yeshiva University, and Fordham University.

ABOUT AIMR: The Association for Investment Management and
            Research (AIMR) is an international, nonprofit
            organization of more than 68,000 investment practitioners
            and educators in over 100 countries. AIMR's mission is to
            serve its members and investors as a global leader in
            educating and examining investment managers and analysts
            and sustaining high standards of professional conduct.

      WHEN: AIMR spokespeople are available for comment beginning on
            Thursday, 2/19. Scheduling is determined upon each
            request.

For More Information, or to Book an Interview, Please Contact:
Jacqueline Chen, Ogilvy PR
TEL: [phone]
EM: [e-mail]