Press Releases

Florida State Board of Administration Selects Eagle For Portfolio Management System Overhaul
—$115 Billion Dollar Public Fund To Implement Eagle's STP Solutions—

Boston, MA, February 10, 2003 — Eagle Investment Systems Corp. today announced the Florida State Board of Administration (FSBA) has chosen Eagle's integrated suite of products to help manage its portfolio of $115 billion in assets under management and to support its straight-through processing initiatives.

FSBA, one of the nation's largest public funds has chosen to implement Eagle PACE^TM, a data hub and portfolio management system, and Eagle STAR®, a scalable securities accounting system. FSBA also selected additional Eagle software, including performance measurement and attribution, trade hub, and portal. Eagle will work with FSBA to build out functionality for streamlining its participant accounting needs. FSBA contracted InvestTech Systems Consulting to provide assistance in choosing a solution for the systems overhaul.

"When we reviewed investment management software solutions, Eagle offered FSBA the functionality and advanced technology that we need to bring our infrastructure to the next level," said Gwenn Thomas, FSBA's chief operating officer. "Eagle's integrated solutions will help FSBA streamline our operations as we position ourselves for the future."

"We are delighted to work with the Florida State Board of Administration and provide them with the tools necessary for streamlining its portfolio management processes," said Jack Riley, Eagle chief executive officer. "As the public sector continues to manage growing investment portfolios, we believe organizations such as FSBA are making a smart decision when moving to a data-centric platform that gives them better control over their security data."

FSBA joins the growing list of public funds and endowment clients that have chosen Eagle's solutions to manage pension plan assets. Other recent clients to join Eagle's roster of clients include Oregon State Treasury, Ontario Public Service Employees Union Pension Trust, Pennsylvania State Employees' Retirement System, and Howard Hughes Medical Institute. Eagle's solutions enable plan sponsors to own their data and provide them with the latest functionality in portfolio management including performance measurement and attribution, drill-down reporting, data monitoring, and analysis.

About Eagle Investment Systems
Eagle, a Mellon Financial Company^SM, is a global provider of financial services technology. Eagle's Web-based systems automate internal systems to support STP requirements of money managers, mutual funds, hedge funds, brokers, plan sponsors, banks, corporate trusts, and insurance companies. Eagle provides solutions for portfolio management, investment accounting, performance measurement, attribution, AIMR/GIPS compliance, reporting, messaging, reference data management, and outsourcing. To learn more about Eagle's solutions, contact us at 1.800.810.3819 or sales@eagleinvsys.com or visit www.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 $2.9 trillion in assets under management, administration or custody, including $581 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 the Florida State Board of Administration
The Florida State Board of Administration provides investment, financial and administrative services to hundreds of Florida state and local government entities. The FSBA manages about $115 billion in assets, including the assets of the Florida Retirement System. The Florida Retirement System is the fourth-largest retirement system in the United States with nearly $84 billion in assets. More information on the Florida State Board of Administration and the Florida Retirement System is available at www.fsba.state.fl.us.