Press Releases

Ontario Public Service Employees Union Pension Trust Selects Eagle For Portfolio Management Solution
—Following Successful Implementation, OPTrust Licenses Additional Eagle Services—

Boston, MA - November 12, 2002 — Eagle Investment Systems Corp. today announced that Ontario Public Service Employees Union Pension Trust (OPTrust) selected Eagle's Web-based portfolio management system to provide it with daily transaction level and holdings data on all of its funds, $9.4 billion in Canadian dollar assets under management (as of December 31, 2001). In implementing the system, Eagle partnered with ES Technology Inc. (ESTI) and Deloitte Consulting for professional services.

Based on this successful implementation, and following an extensive software evaluation, OPTrust is extending its contract with Eagle to add its Web-based performance measurement solution. Last year, the organization licensed Eagle PACE™, a Web-based data hub and portfolio management system, and the entire implementation process, including integration with more than 30 investment data feeds, took 18 weeks to complete.

"When choosing a portfolio management solution for our pension funds, we wanted the same tools that leading investment managers were currently using. Eagle PACE gave us the tools to streamline our systems and focus on important functions such as analyzing and reporting our data," said Graeme Isdale, vice president of information technology at OPTrust. "Our overall experience with Eagle has been very positive, so it was an easy decision to go with Eagle again when choosing a performance measurement solution to add to our system."

"We are very pleased that OPTrust has expanded its contract with Eagle. This is a perfect example of how careful planning and fast execution can lead to additional business opportunities," said Jack Riley, chief executive officer of Eagle Investment Systems. "The public plan sponsor market is highly competitive, and this extended agreement highlights Eagle's ability to meet this market segment's complex needs."

Eagle PACE is specifically designed to give investment management firms and plan sponsors the latest functionality in portfolio management, including performance measurement and attribution, drill-down reporting, and data monitoring. Because of its unique architecture, Eagle PACE can extract, scrub, enrich, and store investment data from several sources into one data repository. Eagle PACE also provides access to a growing list of major industry interfaces from trading, pricing, analytics, custodial, and accounting systems.

In building the new OPTrust portfolio management system, Eagle provided the software and technical support, while ESTI and Deloitte Consulting deployed the technology and links to OPTrust's external data sources. "By enabling OPTrust to take ownership of its investment data and calculate performance results, Eagle is helping OPTrust streamline its investment management processes to better serve its members and pensioners," said Stacy Lloyd, technical analyst at ESTI.

"Eagle PACE's proven software in conjunction with the close working relationships among OPTrust, Eagle, Deloitte, and ESTI made for a very organized and quick implementation process," said Jib Wilkinson, senior manager at Deloitte Consulting. "A breadth of talent and successful knowledge transfer enabled a rapid implementation and positioned OPTrust for future growth."

About Eagle Investment Systems
Eagle, a Mellon Financial Company^SM, is a leading provider of Web-based investment management software solutions, serving the needs of money managers, mutual funds, hedge funds, plan sponsors, banks and corporate trusts. Eagle globally distributes Eagle PACE™ and Eagle STAR®. To learn how Eagle's products and services can help your business achieve its Straight-Through Processing goals, contact us at 1.800.810.3819 (within the U.S.), 1.617.219.0100, or email us at sales@eagleinvsys.com.

About Mellon Financial Corporation
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and affluent individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources services and treasury services. Mellon has approximately $2.8 trillion in assets under management, administration or custody, including $562 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. News and other information about Mellon is available at www.mellon.com.

About OPSEU Pension Trust
The OPSEU Pension Trust manages one of Canada's largest pension funds and administers the OPSEU Pension Plan, with assets under management exceeding $9.4 billion. OPSEU Pension Trust has more than 48,000 active members from bargaining units in the Ontario Public Service plus certain agencies, boards, commissions and foundations and more than 16,000 pensioners.

About Deloitte Consulting
Deloitte Consulting is one of the world's leading management consulting firms, and is uniquely known for its straightforward approach to solving today's most complex business challenges. Deloitte Consultants work hand-in-hand with clients to improve business performance, drive shareholder value, and create competitive advantage. The firm has 15,000 professionals in 33 countries, and serves more than one-third of the companies in the Global Fortune® 500. It is the only consulting firm with five straight appearances on Fortune Magazine's list of "100 Best Companies to Work for in America." For more information about Deloitte Consulting and our Eagle Implementation experience, please contact: Alan Krasner at 412-402-5950 or via email at akrasner@dc.com.

About ESTI
ES Technology Inc. (ESTI) is an information technology consulting leader specializing in the deployment of complete mission-critical client server, Internet/Intranet, and data warehouse custom software solutions. ESTI uses the latest Oracle technology and development tools to deliver comprehensive leading-edge custom solutions, consistently optimizing client value, while delivering outstanding results. For more information about ESTI, please visit http://www.esti.ca.