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March 31, 1997 12:00 AM

SPECIAL REPORT: DC SERVICE PROVIDERS

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    Aetna Inc.

    151 Farmington Ave., Hartford, Conn. 06156; phone: (860) 273-2128; fax: (860) 273-5207

    (No. of participants)

    Total 1,112,302

    Bundled (inc. in-house asset mgmt.) 1,112,302

    Participants served exclusively 810,107

    Bundled services 810,107

    SERVICES PROVIDED:

    Plan design

    Employee meetings

    Generic employee investment education

    Customized employee investment education

    Generic employee communications

    Customized employee communications

    Compliance and reporting

    Consulting services

    TOLL-FREE NUMBER SERVICES

    Account balance

    Account transfers

    24-hour access

    Operators

    Changes to contribution allocations

    Loan request/processing

    Performance data

    Fund information

    Client service rep available

    INVESTMENT MANAGEMENT SERVICES

    Daily valuation

    Total defined contribution assets: $35.3 billion

    In-house investment management services are provided through:

    *Internally managed mutual funds

    *Internally managed separate accounts

    *GICs

    *General account stable value

    External investment management services are provided through:

    Alliances with mutual funds

    Aetna Inc. provides services to 42,606 sponsors: 30,064 for bundled services (including in-house investment management) and 12,542 for investment management only.

    It offers account balances through its website address: www.aetna.com.

    It has partnerships for investment management with Alger, Evergreen, Fidelity, Janus, Neuberger & Berman, Templeton, and American Century; third-party administration with Systematized Benefits; and trust services with Mellon and Fleet.

    Gordon Maltempo is client contact.

    Allmerica Financial

    Institutional Services

    440 Lincoln St., Worcester, Mass. 01653; phone: (508) 855-6371; fax: (508) 853-3317

    (No. of participants)

    Total 65,000

    Bundled (inc. in-house asset mgmt.) 65,000

    Participants served exclusively 65,000

    Bundled services 65,000

    SERVICES PROVIDED:

    Plan design

    Employee meetings

    Generic employee investment education

    Customized employee investment education

    Generic employee communications

    Customized employee communications

    Compliance and reporting

    Consulting services

    TOLL-FREE NUMBER SERVICES

    Account balance

    Account transfers

    Operators

    Foreign language capability

    Changes to contribution allocations

    Loan request/processing

    Performance data

    Fund information

    Client service rep available

    INVESTMENT MANAGEMENT SERVICES

    Daily valuation

    Total defined contribution assets: $2 billion

    In-house investment management services are provided through:

    *Internally managed commingled funds

    *GICs

    External investment management services are provided through:

    Private label mutual funds

    Commingled funds

    Allmerica Financial Institutional Services provides services to 400 sponsors, all bundled services (including in-house investment management) clients.

    It has investment management partnerships with Fidelity, Putnam, Janus, T. Rowe Price, Nicholas-Applegate, Bank of Ireland and Miller Anderson; and a record-keeping partnership with First Data.

    Andre R. Huggins is client contact.

    American Century

    Investments

    4500 Main St., Kansas City, Mo. 64111; phone: (816) 340-4638; fax: (816) 340-4069

    (No. of participants)

    Total 144,829

    Bundled (inc. in-house asset mgmt.) 144,829

    Participants served exclusively 144,829

    Bundled services 144,829

    SERVICES PROVIDED:

    Plan design

    Employee meetings

    Generic employee investment education

    Customized employee investment education

    Generic employee communications

    Customized employee communications

    Compliance and reporting

    Consulting services

    TOLL-FREE NUMBER SERVICES

    Account balance

    Account transfers

    24-hour access

    Operators

    Foreign language capability

    Changes to contribution allocations

    Loan request/processing

    Performance data

    Fund information

    Retirement planning assistance

    Client service rep available

    Plan provisions

    Current contribution information

    New enrollments

    Account activity history

    Statements

    Address changes

    SECURE PRIVATE NETWORK SERVICES

    Account balance

    Account transfers

    24-hour access

    Changes to contribution allocations

    Loan request/processing

    Performance data

    Fund information

    Retirement planning assistance

    Employee enrollment

    Vesting balances

    Transfers by percentage, dollars or shares

    Transaction history

    Personal access codes

    Plan provisions

    INVESTMENT MANAGEMENT SERVICES

    Daily valuation

    Total defined contribution assets: $19.2 billion

    In-house investment management services are provided through:

    *Internally managed mutual funds

    *Internally managed separate accounts

    *GICs

    American Century Investments provides services to 15,648 sponsors: 138 for bundled services (including in-house investment management) and 15,510 for investment management only.

    It now offers account balances, account transfers, foreign language capability, performance data, fund information and retirement planning assistance through its website address: www.americancentury.com. By fall, changes to allocations and loan requests will be available online.

    It has investment management partnerships with Charles Schwab and Barclays Global Investors.

    Chris Doyle is client contact.

    American Express

    Institutional Services

    733 Marquette Ave. S., Minneapolis, Minn. 55402; phone: (612) 671- 7108; fax: (612) 671-5031

    (No. of participants)

    Total 908,896

    Bundled (inc. in-house asset mgmt.) 612,646

    Investment mgmt. only 296,250

    Participants served exclusively 612,646

    Bundled services 612,646

    SERVICES PROVIDED:

    Plan design

    Employee meetings

    Generic employee investment education

    Customized employee investment education

    Generic employee communications

    Customized employee communications

    Compliance and reporting

    Consulting services

    TOLL-FREE NUMBER SERVICES

    Account balance

    Account transfers

    24-hour access

    Operators

    Foreign language capability

    Changes to contribution allocations

    Loan request/processing

    Performance data

    Fund information

    Retirement planning assistance

    Client service rep available

    INVESTMENT MANAGEMENT SERVICES

    Daily valuation

    Total defined contribution assets: $28.4 billion

    In-house investment management services are provided through:

    *Internally managed mutual funds

    *Internally managed commingled funds

    *Internally managed separate accounts

    *GICs

    External investment management services are provided through:

    Private label mutual funds

    American Express Institutional Services provides services to 444 sponsors: 286 for bundled services (including in-house investment management) and 158 for investment management only.

    It offers performance data, fund information, retirement planning assistance and interactive tools and models through its website address: www.americanexpress.com/401k. Future enhancements will include transactional capabilities for account balances, account transfers, foreign language capabilities, changes to contribution allocations and loan request/processing.

    It has investment management partnerships with AIM; American Century;

    Baron; Brinson; Founders; Franklin; INVESCO; Janus; Neuberger & Berman;

    Nicholas-Applegate; Oppenheimer; PIMCO; and Templeton.

    John Rowe is client contact.

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