Eagle Teams with Deloitte Consulting to Build Investment Management System for Pennsylvania State Employees' Retirement System.

Business/Technology Editors

NEWTON, Mass.--(BUSINESS WIRE)--March 19, 2001

Eagle Investment Systems Corp. announced today that the Pennsylvania State Employees' Retirement System (SERS) has selected Eagle PACE(TM) to help SERS manage $28 billion in assets. To build the new system, Eagle teamed with Deloitte Consulting, which served as system integrator. The new system will allow SERS to serve as a centralized data hub and portfolio management system to monitor the efforts of portfolio managers, custodian banks, accountants and others on their investment team.

"Eagle PACE is the ideal platform for SERS - it centralizes all of our investment management capabilities, while giving us flexibility to build links out to the investment community," said Leonard Knepp, Director of Audit, Reporting and Compliance at SERS. "To succeed in managing a large public retirement system, we need 100% confidence and control of the data, and we get that with Eagle PACE."

Eagle PACE is specifically designed to give investment management firms and public retirement funds the latest functionality in portfolio management, including performance measurement and attribution, drill-down reporting, monitoring and compliance. Because of a unique architecture, PACE can collect, control, purify and organize data from multiple sources - inside and outside the company - into one common database. PACE also offers access to more than 75 standard industry incoming/outgoing interfaces, from trading, analytics, custodial, and accounting systems.

"We are delighted to work with the Pennsylvania State Employees' Retirement System and serve as the new investment data hub for their enterprise," said Jack Riley, CEO of Eagle. "As the public sector manages ever larger investment portfolios, we believe organizations such as SERS are making the smart decision by moving to a data-centric platform that gives them total control over the data and its presentation."

In building SERS's new system, Eagle provided the software and technical support, and Deloitte Consulting designed the database and the programs that bring in data from the custodian bank, investment managers, accountants and others. "By managing the data in-house and gaining access to standard and sophisticated reports and analysis tools, Eagle will help SERS optimize their investment management to more efficiently allocate time and money to better serve its members," said Alan Krasner, Principal at Deloitte Consulting.

About the Pennsylvania State Employees' Retirement System

Established in 1923, the Pennsylvania State Employees' Retirement System (SERS) is one of the nation's oldest and largest statewide retirement plans for public employees, with more than 197,000 members. SERS is among the largest of public and corporate pension funds, with assets of about $28 billion.

SERS is responsible for administering the State Employees' Retirement Code in accordance with the expressed intent of the General Assembly and bears a fiduciary obligation to the state employees and retirees who are the plan beneficiaries.

State law provides that the administration of the SERS fund and the fiduciary responsibility for its management be vested in an 11-member Board of Trustees. The management of SERS is the responsibility of the Executive Director who, with the approval of the Board, contracts for professional services and employs the staff needed to operate the system. The SERS Fund and plan are administered under a four-point Mission Statement: Plan Administration: To administer the retirement benefits plan for state employees and elected officials in accordance with Pennsylvania statutes; Member Services: To provide effective services to all active and retired members; Management of Retirement Fund Assets: To accumulate, manage and disburse the retirement fund assets in accordance with fiduciary standards and at a reasonable cost to Commonwealth taxpayers; and Investment Policy: To maximize investment returns while exercising a prudent person investment policy.

About Deloitte Consulting

Deloitte Consulting is one of the world's leading e-Business consulting firms, providing services in all aspects of enterprise transformation, from strategy and processes to information technology and human resources. The firm's e-Business professionals help clients, from new economy start-ups to Fortune 1000 global organizations, to create, reinvent and defend their business models by guiding them through the complexities of the evolving digital economy. Deloitte Consulting is part of Deloitte Touche Tohmatsu, one of the world's leading professional services firms, providing world-class consulting, assurance and advisory, and tax services through nearly 90,000 people in over 130 countries to nearly one-fifth of the world's largest companies, public institutions and successful fast-growing companies. For more information about Deloitte Consulting, visit www.dc.com.

"Deloitte Consulting" is a trademark or registered trademark of Deloitte Consulting or its affiliates. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.

About Eagle Investment Systems Corp.

Eagle is a privately held company with offices throughout the United States and in London. Eagle develops Web and client/server-based investment management software solutions for investment professionals who manage mission-critical business processes. Eagle's products include Eagle PACE(TM) and Eagle STAR(TM). The Eagle product suite, including a performance measurement module, risk and attribution, client reporting, and investment guideline monitoring/post-trade compliance modules, integrates and automates critical front-, middle-, and back-office functions of investment management organizations and delivers true "straight-through" processing capabilities. Eagle is recognized as a deliverer of on-time and on-budget solutions. This reputation earned Eagle the Sun Microsystems' I-force Application Service Provider and Oracle's Powered by Oracle partner designations. To learn how Eagle's products and services can help your business, contact us at 1.800.810.3819 (within the U.S.), 1.781.343.4400, or visit us on the Web at www.eagleinvsys.com.