SBA Dutch Doctors' Pension Fund Completes Implementation and Becomes First European Pension Fund Live on Princeton Financial Systems' ePAM

Windsor, UK (14 February 2005) – Princeton Financial Systems, a wholly owned subsidiary of State Street Corporation, and leading provider of investment management and accounting systems and ASP services for global institutional investors, announced SBA Artsenpensioenfondsen, a Utrecht, Netherlands-based pension fund for Dutch doctors, has successfully implemented Princeton Financial Systems’ ePAMSM portfolio management and accounting system. SBA had licensed the system last year, with PAM Attribution and the Bloomberg Trading Interface, and is the first European pension fund to utilise the ePAM service model. SBA was seeking to improve the quality and availability of information for its front and back offices, as well as obtain straight through processing to improve efficiencies throughout the investment process. Previously, it had used a combination of in-house tools and a third party service provider.

A smooth implementation was made possible due to the cooperative efforts between SBA, Princeton Financial, and Bloomberg.In addition to ePAM, the implementation of the Bloomberg Trading Interface helped SBA to realise its straight through processing goals, enabling SBA to be well positioned to serve the market with streamlined operations.

Scott Ferrante, Princeton Financial Systems’ Chief Operating Officer remarked, "Princeton Financial knows it is critical for our clients to have a smooth transition when implementing new software, and we work extremely hard to make the process as seamless as possible. We are extremely pleased that SBA experienced a successful implementation and will immediately begin to benefit from improved efficiencies. We are also extremely pleased to see the success of the ASP model and the ability of PAM to meet the needs of the Dutch pensions market."

"When looking for a system, our goal was to increase our level of professionalism to the general practitioners and medical specialists that we serve in the Dutch pension fund market. To achieve that goal, we needed to take our investment administration and management information in-house," said Bert Bos, Chief Executive Officer for SBA Artsenpensioenfondsen. "After experiencing a smooth and successful implementation, we are confident that Princeton Financial's ePAM ASP model will allow us to achieve our goals regarding functionality and technology. We will immediately reap the benefits of this investment. Princeton Financial’s years of experience in delivering ASP solutions were evident throughout the implementation."

Princeton Financial Systems, a wholly owned subsidiary of State Street Corporation, is a leading provider of investment management and accounting systems and ASP services for global institutional investors. Its flagship PAM® investment management systems provide comprehensive STP-ready functionality that can be licensed for in-house use or accessed via the Internet. PAM systems are currently used worldwide by over 375 leading investment managers, insurance companies, mutual funds and unit trusts, pension funds, hedge funds, endowments, banks, and corporations, which manage combined total assets over US $3 trillion. Princeton Financial has offices located in the United States, Canada, United Kingdom, the Netherlands, Belgium, Australia, and Singapore.

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