CDC IXIS Asset Management North America Announces Integration of Affiliated Business Units; Key Management Appointments Also Announced.

BOSTON -- CDC IXIS Asset Management North America today announced the integration of two affiliated business units that will streamline services it provides to clients and affiliated investment managers. The integration combines legal, compliance, and fund administration from its CDC IXIS Asset Management Services unit with sales and distribution under its CDC IXIS Asset Management Advisors Group unit. The transfer agency, investor services and publishing services within CDC IXIS Asset Management Services will remain in that unit, continuing to provide the firm's affiliates with those key business functions.

Management appointments

Six senior management promotions have also been announced at the Advisors Group: John Pelletier named Chief Operating Officer, Frank LoPiccolo named President and CEO of the transfer agency unit, Coleen Downs Dinneen named General Counsel, Beatriz Pina Smith named Chief Financial Officer, Anthony Loureiro named Senior Vice President and Kristin Vigneaux named Chief Compliance Officer of Mutual Funds.

John Pelletier was appointed Executive Vice President, Chief Operating Officer, with responsibility for all operational matters, including oversight of CDC IXIS Asset Management Services and the following business functions of the Advisors Group: legal/compliance, fund administration and risk management. Mr. Pelletier previously held the title of General Counsel. He joined the firm in 1997, prior to which he served as Senior Vice President, General Counsel of Funds Distributor and its corporate affiliates. Prior to that he was an attorney with Ropes & Gray, and Sidley & Austin. Mr. Pelletier earned his JD and MA from Duke University and his BA from Assumption College.

Frank LoPiccolo will become President and CEO of CDC IXIS Asset Management Services, the transfer agency and investor services unit, following the integration of the legal, compliance and fund administration functions. He previously held the title of Executive Vice President of CDC IXIS Asset Management Services. Prior to joining the firm in 1998, he served as Corporate Vice President with Allmerica Financial. Throughout a 25-year career, he has held a number of management positions with Putnam Investments, 440 Financial Group, Boston Financial Data Services, and Fidelity Investments. Mr. LoPiccolo earned his MBA from Northeastern University and holds a CFP designation.

Coleen Downs Dinneen was promoted to Senior Vice President, General Counsel, with responsibility for all legal and compliance matters related to the unit's investment advisory, transfer agency, broker-dealer, and mutual fund business. She was previously Senior Vice President, Deputy General Counsel. She joined the firm in 1999, prior to which she served as Counsel at First Data Investor Services Group and Vice President at Scudder, Stevens & Clark. Ms. Dinneen earned her JD from Suffolk University and her BS from the University of Northern Colorado.

Beatriz Pina Smith was promoted to Senior Vice President, Chief Financial Officer. She is responsible for overseeing financial reporting, sales and compensation analysis, business planning, and risk management. She was previously Vice President and Controller with the Advisors Group. She joined the firm in 1992, prior to which she was with Ernst and Young. Ms. Smith is a CPA and earned her BA from the College of the Holy Cross.

Anthony Loureiro was promoted to Senior Vice President, Compliance, with responsibility as Chief Compliance Officer of broker-dealer matters and supervision of advertising compliance and transfer agency compliance. He previously held the title of Vice President, Compliance. Prior to joining the firm in 1997, he served as Vice President, Corporate Compliance with Fleet Financial Group. Mr. Loureiro earned his BA from the University of Massachusetts at Boston.

Kristin Vigneaux was promoted to Chief Compliance Officer of Mutual Funds. She previously held the title of Vice President of Regulatory Compliance. Prior to joining the firm in 1995 she was with Manulife Financial. Ms. Vigneaux earned her BA from the University of Massachusetts at Amherst and is a candidate to earn her JD from Suffolk University in May 2005.

About the firm

CDC IXIS Asset Management North America is part of CDC IXIS Asset Management, a global investment management firm with $413 billion in assets under management as of June 30, 2004. CDC IXIS Asset Management North America is headquartered in Boston and has 15 affiliated investment management firms and distribution and service groups, including AEW Capital Management; Capital Growth Management; Caspian Capital Management; CDC IXIS Asset Management Advisors Group; CDC IXIS Asset Management Associates; CDC IXIS Asset Management Services; Hansberger Global Investors; Harris Alternatives; Harris Associates; Loomis, Sayles & Co.; Reich & Tang Capital Management; Reich & Tang Funds; Snyder Capital Management; Vaughan Nelson Investment Management; and Westpeak Global Advisors.