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MERUS SELECTED AS PORTFOLIO MANAGER FOR NEW INVESTMENT PROGRAM

 MERUS SELECTED AS PORTFOLIO MANAGER FOR NEW INVESTMENT PROGRAM
 SAN FRANCISCO, Nov. 20 /PRNewswire/ -- Merus Capital Management has been chosen as an income-equity portfolio manager for a new asset management program developed by the Pershing Division of Donaldson, Lufkin & Jenrette Securities Corp.
 The investment program, called Peak I, provides customers of Pershing correspondent brokers with individual investment management by some of the nation's highest rated portfolio managers.
 According to John Diamantis, Pershing's senior officer in charge of developing the Peak I program and its director of research, a limited number of investment managers were selected for the program based on long-term asset performance within a particular area of expertise. Screening of potential managers for Peak I was conducted by SEI Capital Resources Corp., a well-known pension consultant.
 Diamantis said that Merus Capital Management was named one of only two income equity managers for the program as the result of its successful Income Equity strategy which has produced outstanding results over the 10 year period ending September 1991. Their long- term performance places Merus in the fourth percentile among yield managers in the SEI universe.
 Harold "Tim" Warner, president and chief investment officer of Merus Capital Management said that the success of Income Equity is based on the strategy's focus on the most fundamental indicator of a stock's value: The company's ability to consistently pay a dividend.
 "As a long-term investment strategy, consistent application of Income Equity principles provides investors with the potential for substantial returns and a relatively high degree of stability in comparison with other equity strategies," said Warner.
 The Peak I program allows brokers and their clients to customize a portfolio based on the client's investment objectives and risk profile, and then allocate the customer's investable assets among different asset classes and managers. Peak I has developed an excellent quarterly client portfolio evaluation report which further enhances the attractiveness of the Peak I program.
 The introduction of Peak I makes Pershing the first clearing firm to offer clients of its correspondents a true wrap account.
 Merus Capital Management currently manages investment portfolios totalling $6.1 billion for institutional clients, including public and private pension plans, businesses, and high net-worth individuals. Merus also is the investment advisor for The HighMark Group family of mutual funds and for personal and business trust clients of The Bank of California.
 Pershing, the nation's largest provider of correspondent brokerage services, is a division of Donaldson, Lufkin & Jenrette Securities Corp. Pershing executes and clears equity, fixed income, mutual funds and options trades for more than 650 independent brokerage firms, and provides account administration, management information and investment-related services to the securities industry.
 -0- 11/20/91
 /CONTACT: Susan Banashek of The Bank of California, 415-765-2628; or Larry W. Williams of Healy & Co., 415-546-6166/ CO: Merus Capital Management ST: California IN: FIN SU:


RM -- SF003 -- 5493 11/20/91 14:28 EST
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Publication:PR Newswire
Date:Nov 20, 1991
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