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GE Edison Life Awards 100 Billion Yen Global Fixed Income Mandate to Nomura BlackRock Asset Management.

TOKYO, April 3 /PRNewswire/ --

Nomura BlackRock Asset Management Co., Ltd. (NBAM) announced today that it has been awarded a 100 billion yen (US$1 billion) global fixed income asset management assignment by GE Edison Life Insurance Company, a Japan subsidiary of GE Financial Assurance. NBAM is a joint venture between Nomura Asset Management Co., Ltd. (NAM) and BlackRock, Inc. (NYSE: BLK).

Laurence D. Fink, Chairman and CEO of BlackRock and Chairman of NBAM, said, "The recent assignment from GE Edison Life is a testament to the combined strength that our joint venture offers to Japanese investors." Launched in July 1999, NBAM is owned equally by NAM and BlackRock, and is the first joint venture between a U.S. and a Japanese asset management firm.

Mr. Fink added, "NBAM combines the superior global asset management capabilities and insurance market knowledge of BlackRock with NAM's strength as one of the largest investment managers of yen based assets worldwide."

NBAM's global fixed income management approach utilizes a cooperative effort between the investment management teams of BlackRock and NAM, which allows for market coverage and execution in all markets worldwide. NBAM's investment process adheres to BlackRock's relative value approach, focusing on security selection and sector rotation, and is augmented by NAM's extensive corporate credit research for yen-denominated assets.

About Nomura BlackRock Asset Management:

NBAM is a licensed investment adviser in Japan and a premier provider of fixed income asset management services and investment products for Japanese institutional and individual investors, including separate accounts, investment trusts and other investment products. NBAM is staffed by senior professionals from BlackRock and NAM with broad experience in investment trust management, product development, sales, marketing and client service.

About BlackRock:

BlackRock, Inc. (NYSE: BLK) is one of the largest publicly traded investment management firms in the United States with $165 billion of assets under management as of December 31, 1999. BlackRock manages assets on behalf of more than 3,000 institutions and 150,000 individuals through a variety of equity, fixed income, liquidity and alternative investment separate accounts and mutual funds, including the Company's flagship fund families, BlackRock Funds and Provident Institutional Funds. In addition, BlackRock provides risk management and advisory services to a growing number of large institutional fixed income investors. BlackRock is majority-owned by The PNC Financial Services Group, Inc. (NYSE: PNC), formerly PNC Bank Corp., one of the largest diversified financial services organizations in the United States, and by BlackRock's employees.
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Publication:PR Newswire
Geographic Code:1USA
Date:Apr 3, 2000
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