Press Release

Basis Point Group Expands Operational Risk Management Team

Graham Mellor, Specialist Investment Management Chief Operating Officer, Joins Leading Global Management Consulting Firm As New York Partner.

Boston, MA – September 20, 2005 — Basis Point Group, LLC, (BPG) the leading global investment operations performance consultants, today announced that Graham Mellor has joined the firm as a Partner. As a former COO, CIO and Managing Director with UBS Asset Management and Pimco Advisors, and Managing Director, Corporate Development and Operations with UBS Investment Bank in London and Tokyo, Mellor is uniquely qualified to serve Basis Point GroupÕs Investment, Insurance and Bank clients.

Mellor's experience includes winning and managing transformational change assignments for one of the "Big Four" consulting firms, and advising many of the world's top tier institutions including JPMorganChase, Barclays, Credit Suisse, Industrial Bank of Japan, Bank of China, Reuters and several Exchanges and Central Banks, including the Ministry of Finance, Japan and the Peoples Bank of China. His strengths include identifying efficiencies of scale; introducing cost-effective operational and technology infrastructures, business and process integration pre- and post- M&A; optimizing returns from globalization, and helping investment managers keep pace with client needs, product innovation and compliance requirements.

"Mellor's senior-level operations and technology experience with many large institutions will significantly enhance our partner base as more investment management companies seek to dramatically increase efficiencies, integrate new compliance and risk-containment capabilities within their firms," said Bob Fawls, Managing Partner of the Basis Point Group.

"With over 20 years of concentrated experience in the asset management and investment banking industry, domestically as well as in Europe and Asia, Mellor adds further depth to the Basis Point Group's risk management, operations performance, benchmarking and systems integration capabilities," continued Fawls.

"Mellor is a seasoned professional with tremendous operational management depth and understanding capable of providing strategic counsel to our clients. Like all of our partners and associates who hail from the industry we serve, Mellor's experience will be invaluable in helping our clients achieve exceptional results," said Fred Sommers, Lead Partner for Basis Point Group's Operations Performance Benchmarking.

Most recently, Mellor directed global custody / investment services outsourcing and systems integration initiatives and a global compliance reporting system for the world's largest asset manager. He has also managed start-up and business development for three investment software suppliers and hence, knows the industry from all angles.

"It is refreshing to join the Basis Point Group team, with its concentrated level of experience and integrity. Every aspect of investment management operations, compliance and technology is covered in-depth within the firm. It will be a pleasure syndicating my international, technical and consulting management experience with my new colleagues, adding to the already highly professional, focussed and discreet services they provide to clients, new and old," said Mellor.

Basis Point Group, LLC
Basis Point Group, LLC is a leading investment operations consulting firm. BPG utilizes its OPERA^® quantitative performance and risk measurement approach in all client assignments. Basis Point Group partners have a depth of operating and technical experience unparalleled in the industry. Basis Point Group's clients have recognized major improvements in productivity and oversight while dramatically reducing operating risk. For more information, visit www.basispointgroup.com.

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Contact: Robert Fawls, Basis Point Group
Phone: 617-737-1500
Email: bob.fawls@basispointgroup.com