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NewRiver Expands Summary Prospectus Indexes: Tracks All Filings for Mutual Funds, Variable Annuities and Retirement Funds

Company to Deliver Monthly Intelligence on Continuing Widespread Adoption of Summary Prospectus Filings on the SEC’s EDGAR Database

NewRiver, Inc. – creators of the leading central repository of mutual fund documents and data for financial services firms – today announced that it will deliver ongoing monthly updates to its NewRiver Summary Prospectus Indexsm and NewRiver Summary Prospectus Index for Variable Annuitiessm. As a part of this announcement, the Company is also adding an Index to its popular line up; the NewRiver Summary Prospectus Index for Retirement Funds sm. This new Index will track the penetration of retirement classes of mutual funds and their adoption of summary prospectuses. Now, firms offering or selling mutual funds, variable annuities and retirement services can actively monitor ongoing summary prospectus adoption within their respective industry.

The most recent Index statistics through March, 2010 indicate 3,153 mutual fund summary prospectus documents are available for stand-alone delivery, of which 450 are sub-funds of variable annuity and/or variable life contracts. In addition, 895 or thirty-nine percent of retirement R share class filings have adopted the summary prospectus. Monthly Index findings are available by visiting the NewRiver website. Upon request, a more detailed version of each Index will be made available to firms who want to better understand the fund level details and how it might proactively impact their business.

NewRiver began tracking the industry’s adoption of summary prospectuses in 2009 when the filings began. The SEC’s Summary Prospectus Rule has been credited for transforming and simplifying investor disclosure and has spawned a significant move to delivering these documents both print-on –demand and electronically via e-delivery. This shift has resulted in demonstrable, industry-wide savings in both print and postage costs as a result of the lower page count and reduction in postal rates.

"The numbers show that there are already a large number of R share class summary prospectus documents ready for delivery," states Russ Planitzer, CEO and Chairman of NewRiver, Inc. "Retirement plan providers have been asking us for guidance on managing the complexities of the rule, so we now offer a third index which is specific to retirement class R shares. This information will help them to plan and manage how they meet the Summary Prospectus Rule requirements."