Brown Brothers Harriman & Co. Announces New Approach To Securities Lending.

Boston--(BUSINESS WIRE)--Nov. 15, 1999--

Brown Brothers Harriman & Co. (BBH) today announced an effort to expand the existing approach to its Securities Lending product. The new approach, consistent with each of BBH's businesses, will be sophisticated, targeted and fully integrated for a specific audience with a stated philosophy of optimizing performance while managing risk.

This effort, which includes the hiring of Christine Donovan as the Head of Securities Lending, comes at a critical juncture for the 180-year-old partnership, who views this as a much needed rounding out of BBH's existing product mix.

"Our objective is to offer our in-house option to existing Investor Services clients and a limited number of select non-custody clients," said Ms. Donovan. "Our program will incorporate a strong emphasis on technology to enhance our product delivery."

BBH has provided institutional custody and related services for more than 70 years. With over $725 billion in assets, BBH's primary focus is to provide an extremely high level of custody and related services to a limited number of investment managers, banks, and insurance companies. The firm provides Investor Services through offices in Boston, New York, New Jersey, and overseas offices in Dublin, Grand Cayman, Hong Kong, London, Luxembourg, Tokyo, and Zurich.