A CULTURE ANCHORED IN RESEARCH FUNDAMENTALS... AND INSTITUTIONAL VALUES

Strategy	Investment Capitalization Range	Separate Account
Mid Cap Equity Strategy	$1.4 billion to $19.1 billion	Open
Small Cap Equity Strategy	$170 million to $2.8 billion	Open
Micro Cap Equity Strategy	$40 million to $620 million	Open

We concentrate our efforts in the “sweet spot” – where growth potential is quantifiable and stocks are reasonably priced. Our style often is characterized as Growth-at-a-Reasonable-Price – the best discipline, we believe, to exploit pricing inefficiencies in the market. This strategy provides investors with an attractive portfolio of growing companies purchased at reasonable valuations – an approach that, historically, has provided greater return potential with less volatility.