MW Post licenses PAM® from Princeton Financial® Systems

Princeton, NJ USA (April 14, 2003) -- Princeton Financial® Systems is pleased to announce the signing of a new fund manager for PAM®, its leading portfolio management and accounting system for global institutional investors. Los Angeles-based MW Post Advisory Group LLC joins Princeton Financial's growing number of hedge fund clients, citing PAM's superior accounting capabilities and broad investment coverage as the major factors driving the decision.

MW Post has licensed ePAMSM, Princeton Financial's software hosting service for PAM. As an ASP (Application Service Provider), Princeton Financial houses the data, provides remote access and performs all of the necessary data center activities for clients' PAM databases. MW Post, which specializes in high-yield bonds and distressed securities, will use ePAM to manage and account for its more than $2 billion portfolio. Two managers at MW Post previously used PAM at former employers and their positive experiences helped to establish PAM as a preferred solution over two competing systems MW Post considered.

"We were looking for a system that would allow us to grow from a technology and efficiency standpoint," said MW Post's Operations Manager. "We were most familiar with PAM and felt it would handle the fixed-income side of our business the best. Because of our size, the technology demands of hosting the system in-house would be too significant, so ePAM allowed us to access PAM without making a huge technology investment."

"Because of their unique nature, hedge funds need a portfolio management and accounting system with sophisticated functionality that can handle all investment types and specialized accounting and reporting requirements," said Lorne Whitmore, Managing Director of Global Sales. "We believe PAM's proven capabilities in these areas give hedge funds a clear advantage."

Princeton FinancialÒ 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 350 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, United Kingdom, Belgium, Australia, Singapore, and Canada.

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