American Express Financial Advisors and H.D. Vest Financial Services Select NewRiver for Breakpoint Data Solution.

Business Editors

ANDOVER, Mass.--(BUSINESS WIRE)--March 18, 2004

Leading Broker-Dealers Address NASD Breakpoint Refund Mandate

With Industry's First and Only Complete Breakpoint Data Resource

NewRiver(R), Inc., the leading expert in financial data technology, today announced increased momentum in the broker-dealer industry with the growing adoption of BreakPoint Complete(SM) to help automate the time and cost-intensive process associated with breakpoint calculations. Launched in January, BreakPoint Complete combines the industry's only historical data feed with fully auditable research, bringing high-volume broker-dealers an accelerated solution for trade-by-trade analysis of mutual fund transactions while at the same time improving breakpoint accuracy for investors. Broker-dealers that have already signed on for this service include American Express Financial Advisors, Inc., a unit of American Express Company (NYSE:AXP), and H.D. Vest Financial Services, a non-bank subsidiary of Wells Fargo & Company (NYSE:WFC).

Developed in response to NASD-mandated breakpoint reviews, BreakPoint Complete eliminates the uncertainty and risk of improperly calculating breakpoint rebates. The industry's only source of auditable historical breakpoint data, BreakPoint Complete sources its information directly from the SEC EDGAR database to deliver breakpoint data and processing rules, as well as the underlying, legally-binding SEC EDGAR filings for all U.S. mutual funds - including all prospectuses, annual reports, supplements and statements of additional information. Other potential data sources, such as data firms, transfer agents and fund companies, do not have the complete, accurate and auditable historical data that BreakPoint Complete delivers.

According to a recent study conducted by NewRiver(a), breakpoint-related rules changed for nearly 70 percent of Class A mutual funds during the past five years. And in 40 percent of the cases, current breakpoint rules are materially less favorable to investors. The bottom-line is that failure to use accurate historical data will likely result in broker-dealers refunding amounts less than are actually due investors or overlooking refunds due investors altogether.

"BreakPoint Complete offers tremendous value to broker-dealers up against stringent NASD deadlines for reassessing breakpoint calculations," said Jim Wironen, executive managing director of sales and marketing for NewRiver. "Recognizing that investor confidence is at stake, American Express Financial Advisors and H.D. Vest have taken swift action by implementing BreakPoint Complete and, in doing so, have demonstrated their commitment to resolving this issue."

NewRiver's financial data technology is used by many financial services firms, including more than 75 broker-dealers, to guarantee fully compliant mutual fund data and investor communications.

For pricing information, or to reach a NewRiver sales representative, call 1-866-271-0775.

(a) NewRiver historical breakpoint study conducted in January 2004 using a randomly selected sample of 92 top-selling Class A mutual funds. Breakpoint data sampled during the period January 1, 1999 - December 31, 2003 and analyzed for changes in breakpoint rules.

About American Express Financial Advisors

American Express Financial Advisors is one of the nation's leading financial planning companies. More than 10,200 American Express financial advisors help manage the personal economies of more than 2.7 million clients through comprehensive long-term financial planning and high quality financial products.

About H.D. Vest, Inc.

Based in Irving, Texas, H.D. Vest Financial Services(R) supports an independent network of tax and non-tax professionals who distribute comprehensive financial planning solutions, including securities, insurance, money management services and Wells Fargo banking products. Approximately 6,000 independent contractors manage over $16 billion in assets for some 1.8 million individuals, families and small businesses in all 50 states. H.D. Vest became a non-bank subsidiary of Wells Fargo & Company in July 2001.

About NewRiver

NewRiver, Inc. is the leading expert in financial data technology that cost-effectively delivers the most reliable and customized financial information to investors and advisors. These technology solutions, coupled with NewRiver's innovative combination of financial expertise and patented processes, enable financial institutions and intermediaries to build and strengthen relationships with customers. NewRiver delivers bottom-line results by providing the most actionable information available and effectively streamlining processes that make it easier for investors and advisors to do business with institutions and intermediaries. NewRiver currently serves more than 100 top financial companies, including American Express, Great-West Life & Annuity Insurance Company, Charles Schwab & Co., E*TRADE, GE Financial, INVESCO, Merrill Lynch, MorganStanley, Lincoln Financial Group, UBS PaineWebber, Schoolhouse Capital, LLC, TD Waterhouse Group, Inc., and T. Rowe Price. NewRiver is headquartered in Andover, Massachusetts. For more information, visit www.newriver.com.