Global Association AIMR Makes Second Scholarship Award from Its '11 September Memorial Fund'.

Feature Editors/Business Editors

CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--Dec. 2, 2003

The Association for Investment Management and Research(R) (AIMR(R)), the global association whose mission is to lead the investment profession globally by setting the highest standards of education, integrity and professional excellence, announced today that it has awarded $90,000 in scholarships to eight finance, economic, accounting and business students whose family members were victims of the Sept. 11 attacks.

AIMR established the "11 September Memorial Fund" in 2001 to honor those who died or were permanently disabled from the attacks by offering scholarships to a spouse, domestic partner or dependent who desires an undergraduate degree in finance, economics or a related field. The median award for the 2003 scholarships was $11,250.

The 2003 recipients are:

-- Teiko Aryee, a senior from Spring Valley, N.Y. at State

University of New York at Albany, studying business;

-- Brennan W. Basnicki, a freshman from Etobicoke, Ontario at

Dalhousie University in Halifax, Canada, studying commerce;

-- Brett B. Cahill, a freshman from Wellesely, Mass. at Wake

Forest University in Winston-Salem, N.C., studying finance and

languages;

-- Raymond V. Espinal, Jr., a sophomore from Bronx, N.Y. at City

University of New York, studying accounting;

-- David P. Grimner, a freshman from Merrick, N.Y. at Villanova

University in Villanova, Pa., studying finance/management;

-- Michael P. Modafferi, a freshman from Staten Island, N.Y. at

Villanova University in Villanova, Pa., studying accounting;

-- Bridgette P. Parks, a freshman from Middletown, N.J. at Loyola

College in Baltimore, studying economics; and

-- Laura E. Ryan, a freshman from Princeton Junction, N.J. at

Georgetown University in Washington, studying history and

economics.

AIMR established this fund with an initial contribution of $1 million. Since 2001, AIMR members and others have made additional donations totaling $321,000. AIMR intends the fund to award scholarships of up to $25,000 each to applicants throughout the world for the next 20 years or more.

The AIMR Scholarship Selection Committee considers recipients based on their financial need, academic record and demonstrated commitment to high levels of professional ethics. The scholarship program is administered on behalf of AIMR by Citizens' Scholarship Foundation of America(SM), a national nonprofit educational support and student aid organization that seeks to involve and assist the private sector in expanding educational opportunities for educational achievement. CSFA created the Families of Freedom Scholarship Fund(R) to provide educational assistance for post secondary study to the financially needy dependents of the Sept. 11 terrorist attack victims.

To apply for a scholarship, candidates should contact CSFA at 877-862-0136 (U.S.) or 507-931-1682 or visit its Web site at www.aimr.csfa.org. Contributions to the fund may be made online at http://www.aimr.org/research/donations/11september/contribute.htm or by calling AIMR at 800-247-8132 (U.S.) or 434-951-5499.

The Association for Investment Management and Research is a non-profit membership organization with more than 67,000 individual members, including the world's 55,000 holders of the Chartered Financial Analyst(R) credential. AIMR has members in 117 countries and offices in Charlottesville, Va., London and Hong Kong. It is also well known for its stringent Code of Ethics and Standards of Professional Conduct, a set of principles and guidelines that investment professionals around the world use to benchmark what constitutes fair and ethical business and investment practices. More information may be found at www.aimr.org or by calling 1-800-247-8132 or 1-434-951-5499.