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UAM PASSES $100 BILLION IN ASSETS UNDER MANAGEMENT, MOVING FIRM HIGHER AMONG 20 LARGEST MONEY MANAGERS

 Completes Two Previously Announced Acquisitions
 Increasing Number Of Affiliates to 38
 BOSTON, Jan. 11 /PRNewswire/ -- United Assets Management Corporation (NYSE: UAM) announced today that its total assets under management have crossed the $100 billion mark, moving UAM higher among the nation's 20 largest money managers. Founded in 1980, UAM had no assets under management just over 10 years ago when it acquired the first of its 38 investment management firms in 1983.
 UAM said it has completed the previously announced acquisitions of Dwight Asset Management Company and GSB Investment Management, Inc. The two firms' combined $7.4 billion in assets under management, coupled with fourth-quarter net new business and appreciation in assets managed by UAM's other affiliates, bring UAM's total assets under management to approximately $103 billion. UAM's assets under management were $75.1 billion at Dec. 31, 1992, when it had been the nation's 18th largest money manager, according to an annual survey by Institutional Investors.
 "Achieving our first $100 billion in assets under management is an important milestone for UAM because it validates our unique approach to building a major asset management company. Unlike other large asset managers, UAM focuses on selectively acquiring strong institutional investment management firms -- and fostering a culture which enables these firms to maintain their individual identities as well as investment and business independence," said President Norton H. Reamer.
 "In just a decade since UAM's first acquisition, we have grown to a size that will place us well into the 20 largest U.S. money managers when 1993 statistics are compiled. Yet, UAM still has only slightly more than a 1% share of the total U.S. money management industry and just less than a 2% share of the fragmented market for institutional investment management. We believe we can significantly increase our market share in the years ahead without deviating from our philosophy of putting the client first," said Reamer. "We want to thank all of UAM's 38 affiliates and their clients for helping us reach our current position of strength."
 UAM completed the following transactions in 1993: New York-based Regis Retirement Plan Services, Inc., formed in February to offer bundled products to defined-contribution plan sponsors; the acquisition in March of Pell, Rudman & Co., Inc., a Boston-based firm with assets under management of $1.5 billion that specializes in managing money for individuals and families; the formation in June of Ki Pacific Asset Management, a firm based in London and Hong Kong that invests primarily in Asian securities with the use of sophisticated hedging strategies; the acquisition in August of Heitman Financial Ltd., a major real estate investment management firm based in Chicago and Los Angeles which manages nearly $6 billion; the acquisition in November of Murray Johnstone Limited, a leading international investment management firm based in Glasgow, Scotland which manages $6.5 billion; the acquisition in late December of GSB Investment Management based in Fort Worth, Texas, a value manager with approximately $2.4 billion in assets under management primarily for institutional clients. In early January of 1994, UAM completed the acquisition of Dwight Asset Management Company of Burlington, Vt., a stable value asset manager with over $5 billion under management primarily for institutional clients.
 The assets managed by UAM affiliates by asset category are as follows:
 U.S. Equities 54%
 U.S. Bonds and Cash 22%
 International Equities 8%
 International Bonds and Cash 2%
 Real Estate 9%
 Stable Value Assets 5%
 The assets managed by UAM affiliates by client source are as follows:
 Institutional 80%
 Individuals 10%
 Mutual Funds 10%
 UAM provides investment management services, primarily to institutional clients through 38 operating firms which manage approximately $103 billion for 5,400 clients located throughout the U.S. and abroad.
 -0- 1/11/94
 /CONTACT: William H. Park or Richard S. Robie III of United Asset Management Corporation, 617-330-8900; or George Sard or Anna Cordasco of Sard Verbinnen & Co., 212-687-8080/
 (UAM)


CO: United Asset Management Corporation ST: Massachusetts IN: FIN SU:

SP -- NY018 -- 0914 01/11/94 10:30 EST
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Publication:PR Newswire
Date:Jan 11, 1994
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