CDC IXIS Asset Management Advisors Group Wins Multi-Discipline Separate Account Mandate at Merrill Lynch.

Business Editors

BOSTON--(BUSINESS WIRE)--March 17, 2003

One of the first non-proprietary managers offered as part of

Consults Diversified Portfolios program

CDC IXIS Asset Management Advisors Group announced today that Merrill Lynch has added four of its multi-discipline separate account portfolios to the Merrill Lynch Consults separate account platform. CDC IXIS Asset Management Advisors Group is one of the first outside firms to offer Consults Diversified Portfolios (CDPs) through Merrill Lynch Consults, a service for high net worth investors.

"CDPs are the ideal product for our multi-manager structure," said John T. Hailer, President and Chief Executive Officer of CDC IXIS Asset Management Advisors Group. "With access to the investment expertise of twelve independent affiliated money managers, we are experienced in bringing together investment talent for multi-manager portfolios to meet the needs of sophisticated investors. Through CDC IXIS CDPs, we offer Merrill Lynch Consults clients the diversification of multiple investment strategies in a single, integrated portfolio with the convenience of an overlay manager to monitor asset allocation and tax efficiency. As the popularity and need for these products continue to grow, we look forward to expanding our line-up of multi-discipline portfolios offered through Merrill Lynch and other firms."

CDC IXIS CDPs include the following five strategies from CDC IXIS Asset Management Advisors Group's affiliates: Loomis Sayles Core Fixed Income, Loomis Sayles Large Cap Growth, Harris Associates Large Cap Value, Reich & Tang Mid Cap Value and Hansberger International Developed Markets. The strategies will be managed by CDC IXIS Asset Management Advisers, L.P. using the recommendations and model portfolios of the subadvisors. Allocations vary within each portfolio according to risk category. CDC IXIS CDPs will be offered in Risk Categories III - VI. Risk Category III portfolio seeks to strike a balance between bonds for current income and stocks from growth; Risk Category IV portfolio seeks to accumulate wealth over time rather than pursuing current income; Risk Category V portfolio seeks above-average growth over time; and Risk Category VI portfolio seeks to achieve capital appreciation.

In addition to CDC IXIS CDPs, Merrill Lynch Consults also offers the Harris Associates Large Cap Value strategy. For more information on CDC IXIS CDPs, please visit http://www.cdcixisadvisors.com/1/newsroom/pr_merrillcdp.asp.

CDC IXIS Asset Management Advisors Group is affiliated with CDC IXIS Asset Management, a $312 billion global asset manager (as of December 31, 2002), with a 186-year heritage of managing wealth. Based in Boston, CDC IXIS Asset Management Advisors Group offers the independent thinking and investment expertise of its affiliated money managers and business partners through a diverse line-up of investment products and services, including separate accounts, sub advisory services, tax-qualified plans and mutual funds, including CDC Nvest Funds, which are distributed by CDC IXIS Asset Management Distributors, L.P.

Affiliated investment management firms include: AEW Capital Management; Capital Growth Management; Caspian Capital Management; Delafield Asset Management (a division of Reich & Tang Asset Management); Harris Associates; Hansberger Global Investors; Jurika & Voyles; Loomis, Sayles & Company; Reich & Tang Asset Management; Snyder Capital Management; Vaughan, Nelson, Scarborough & McCullough; and Westpeak Global Advisors.

CDC IXIS Asset Management Advisors Group is a part of CDC IXIS Asset Management and includes CDC IXIS Asset Management Distributors, L.P. (member NASD), as well as CDC IXIS Asset Management Advisers, L.P., a registered investment adviser that provides certain advisory services for separate accounts products. For more information about CDC IXIS Asset Management Advisors Group please call 1-800-862-4863. CDC IXIS Asset Management Advisers, L.P. manages CDC IXIS Private Portfolios using model portfolios supplied by the relevant Subadviser. CDC Nvest Funds are distributed by CDC IXIS Asset Management Distributors, L.P., member NASD. For a CDC Nvest Funds prospectus, which explains charges and expenses, please call 1-800-862-4863 or visit www.cdcixisadvisors.com. Please read the prospectus carefully before investing.

CDC IXIS Asset Management Advisers, L.P. (CDC) will combine the investment recommendations from the subadvisors with the ability to customize and tailor individual portfolios to meet clients' specific needs, such as cash flows, tax issues and other needs. These recommendations will typically mirror those implemented by the subadvisors for their discretionary client portfolios subject to differences relating to client guidelines, account size, tax needs and other factors. In most cases CDC expects to invest substantially in line with the recommendations provided by the subadvisors. Portfolio transactions will be effected either by CDC or the subadvisor. When effected by the subadvisor, transactions will be aggregated with their other clients', in an effort to seek best overall execution.