Russell/Mellon purchase Citadel Associates CADIS data management suite

London (March 29, 2005) – Citadel Associates announced today that Russell/Mellon, a joint venture between Mellon Financial Corporation and Russell, has purchased its innovative data management product, CADIS. Russell/Mellon will use CADIS solutions across several of its business units.

"Russell/Mellon is a great partner; their visionary approach to data management, combined with CADIS, enables them to deliver an excellent value proposition to existing and new clients, across all their business lines." said Jean Williams, Managing Director of Citadel Associates.

CADIS is being used by Russell/Mellon in several different business units, some examples of how CADIS solutions add value to Russell/Mellon are:

A CADIS solution is used to manage and streamline the collation, cleansing and dissemination of index data for the Index Data Services group. This data ranges from standard FTSE & MSCI data through to complex fixed income index data supplied by specialist data vendors.

Clients who use the Index Data Services gain maximum benefit from the data by getting it into investment management systems fast and with a minimum of integration effort via CADIS’s standard adapters to OMS, Compliance, Modelling, Risk and P&L attribution systems.

CADIS is being used by the Russell/Mellon MAPâ„¢ implementation teams to help customers gain maximum benefit from the state of the art Russell/Mellon MAPâ„¢ system through the collation and loading of customer data into Russell/Mellon MAPâ„¢ via CADIS.

CADIS is being used to enable Russell/Mellon clients to progress from the production of monthly performance data to daily performance data as required by GIPS regulations.

CADIS solutions are designed to solve the most difficult data issues facing the Investment Management community and can significantly reduce implementation costs and increase regulatory compliance. Citadel Associates unique pricing model enables clients to tightly control costs and maximise return on investment.

"The CADIS toolset will allow Russell/Mellon to dramatically speed up the implementation of our performance and attribution solutions, as well as allow us to deal with our internal data processing requirements in a much more efficient manner. The use of this solution will provide direct benefit for our clients." said Mick Brant, CEO of Russell/Mellon Europe.

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