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UNITED ASSET MANAGEMENT REACHES AGREEMENT IN PRINCIPAL TO ACQUIRE NWQ INVESTMENT MANAGEMENT COMPANY

 UNITED ASSET MANAGEMENT REACHES AGREEMENT IN PRINCIPAL
 TO ACQUIRE NWQ INVESTMENT MANAGEMENT COMPANY
 BOSTON, July 31 /PRNewswire/ -- United Asset Management Corporation (NYSE: UAM) announced today that it has reached an agreement in principle to acquire NWQ Investment Management Company (NWQ) of Los Angeles, which manages over $4.8 billion in equity, balanced and fixed income accounts for institutional and individual investors. The completion of this transaction will mark the fourth acquisition for UAM this year and will bring the total number of UAM's operating firms to thirty.
 The acquisition is expected to close on or around Sept. 30, 1992 following occurrence of several events, including obtaining necessary approvals and the execution of definitive agreements between the parties. Following the closing, NWQ, which is led by David A. Polak, will continue to operate under its own name and will maintain its investment and business independence in keeping with UAM's long-standing policy with regard to its affiliates.
 Norton H. Reamer, president of UAM, stated: "We are delighted to have reached this agreement with NWQ. I have known Dave Polak, the president of NWQ, for many years. He has built an outstanding investment management organization that has achieved a very impressive long-term performance record. I am confident that NWQ will help strengthen and build UAM's presence within our industry by contributing to our goal of diversification of investment style, asset class and type of client."
 NWQ utilizes a disciplined, value-oriented approach to security selection and is dedicated to achieving northwest quadrant performance for its clients, that is, earning the highest possible return at the least possible risk. Of the $4.8 billion under management at NWQ, $1.9 billion is managed through the wrap-fee programs of several major brokerage firms.
 United Asset Management Corporation provides investment management services, primarily to institutional clients, through 29 operating firms which manage more than $63 billion for over 6,100 clients located throughout the United States and abroad.
 -0- 7/31/92
 /CONTACT: Franklin H. Kettle or William H. Park of United Asset Management, 617-330-8900/
 (UAM) CO: United Asset Management Corporation; NWQ Investment Management Co. ST: Massachusetts IN: FIN SU: TNM


PS-TS -- NY042 -- 5605 07/31/92 12:34 EDT
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Date:Jul 31, 1992
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