1st TIER MUTUAL FUND COMPANIES CONTINUE TO SPEND MORE TO SUPPORT WHOLESALER

RICHFORD, VT. — January 28, 2008 — 1st Tier Group Companies pay more compensation to the Staff/Management function, with Top Companies increasing the number of Sales Managers supporting the Wholesaler, according to reports published annually by DGL Consultants — "Analysis of Sales Force: Mutual Fund Strategies" and "Cost of Distribution: Mutual Fund Sales Forces."

"The findings in these reports examine key characteristics, including numerous sales force analysis benchmarks separating 1st from 2nd Tier Companies," says Don Lariviere, President of DGL Consultants. "More than ever, companies are successful because they are better able to: (1) determine the most appropriate sales force structure and size; and (2) manage the huge cost of distribution as market conditions and product needs change."

Highlights from Analysis of Sales Force and Cost of Distribution reports include:

• 1st vs. 2nd Tier Wholesalers earn 29% more total cash compensation.
• Top vs. Average 1st Tier Wholesalers earn 9% more incentive compensation.
• Top vs. Average 2nd Tier Companies employ 17% more Inside Sales.
• Over half of 1st Tier Multi-Channel Wholesalers cover a territory consisting of one state or less.
• Bank Distribution Channel averages more 1st Tier Single-Product Sales Managers.

These reports are designed to provide reliable and comprehensive information to support the planning and evaluation needs of Mutual Fund Distributors. In order to make valid peer comparisons, 1st and 2nd Tier Group Companies are categorized as top-performing or average-performing based upon sales production per Wholesaler.

Established in 1984, DGL Consultants is a retained executive search and management consulting firm that helps its clients nationwide. DGL is also a leading provider of proprietary, product-specific sales reports. The company's publications include the industry standard "Annual Sales Compensation Survey & Analysis" and a series of reports that support strategic planning and assess the needs of financial product distributors. Clients are exclusively Mutual Fund, Annuity, Managed Money and Retirement Services Companies.

For more information, methodology and universes may be viewed here.