For Further Information, call:
Patrick Fowler, The Spaulding Group: +1-732-873-5700


THE SPAULDING GROUP PUBLISHES UPDATED EDITION OF PERFORMANCE MEASUREMENT REFERENCE GUIDE


Somerset, NJ - December 1, 2004. The Spaulding Group announced that it has published a revised edition of its hugely popular and successful, "Performance, Attribution, and Risk Measurement Reference Guide: A Glossary of Investment Performance Measurement Formulas, Terms and Concepts." The earlier edition, published in 2002, completely sold out. The new expanded edition includes both formula revisions as well as additional material. The Reference Guides are available on The Spaulding Group's website at www.SpauldingGrp.com, in the "products" section.

"The formula guide was a unique and innovative idea, and we are very pleased that the earlier edition was so well received - we frequently get compliments about the guide" said David Spaulding, president of The Spaulding Group. "The new edition is an improvement over what we did two years ago, so we're hopeful that the reception will be even better."

"We greatly appreciate the support of our cosponsors" said Patrick Fowler, Spaulding Group Senior Vice President. "The cosponsors of this edition are Eagle Investment Systems, Sungard Investment Management Systems, First Rate Investment Systems, StatPro, Investment Scorecard, Financial Models, FactSet, and Wilshire Analytics."

The Spaulding Group, Inc. is an information provider and management consulting firm that serves the money management industry in the areas of performance measurement and reporting, computer technology, operations, and marketing. TSG publishes The Journal of Performance Measurement®, a quarterly publication they launched in 1996, and hosts the Performance Measurement Forum. Through its Institute of Performance Measurement, the firm offers performance measurement training, including a two-day introductory course on performance measurement, a one-and-a-half-day course on performance attribution, and a one-day performance measurement course for plan sponsors and consultants. TSG also hosts an annual Performance Measurement, Attribution and Risk Conference (PMAR™) scheduled for May 16-17, 2005 in New York City.The company was founded in 1990 by David Spaulding and provides performance resources to financial institutions throughout the world. Other details about TSG's services may be obtained from its website: www.SpauldingGrp.com.

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