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COLUMBIA BUSINESS SCHOOL AND PRMIA INSTITUTE FORM PARTNERSHIP TO DELIVER RISK MANAGEMENT EXECUTIVE EDUCATION PROGRAMS

June 14, 2006 – PRMIA Institute and Columbia Business School today announced their partnership to offer classroom-based educational programs to financial professionals in New York City beginning in the fall of 2006.

To meet the demands of risk professionals, the PRMIA Institute and Columbia Business School's Executive Education will jointly develop classroom-based educational programs that feature the top faculty of Columbia Business School. The classes will be available to the general public.

“Risk management is a field in which academic research has played a particularly important role in shaping business practice,” remarked Paul Glasserman, senior vice dean and the Jack R. Anderson Professor of Business at Columbia Business School. “Columbia Business School is dedicated to bridging the gap between theory and practice in business, and this partnership will strengthen connections between faculty and end users to produce viable solutions for problems that businesses face today.”

“Columbia Business School's partnership with the PRMIA Institute is a strong reflection of our respective institutions’ commitment to setting the highest standards for education in risk management” said David R. Koenig, Executive Director of PRMIA.