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October 14, 2002 01:00 AM

[D] Profiles of the largest defined contribution providers

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    Delaware Investments' Retirement Financial Services Inc.

    1 Commerce Square, 2005 Market St., Philadelphia, PA 19103; phone: (215) 255-1200; fax: (215) 255-1681; www.delawareinvestments.com

    RECORD KEEPING

    Total DC assets record kept ($ mil) 5,100

    For plans with:

    Fewer than 100 employees 3,100

    100-499 employees 900

    500-999 employees 200

    1,000-4,999 employees 500

    5,000-9,999 employees 200

    10,000-24,999 employees 200

    No. of DC record-keeping clients:

    Corporate 401(k) 11,517

    Other 401(k) 117

    Taft-Hartley 6

    457 133

    403(b) 5

    Other DC 1,282

    % of assets under record keeping in:

    Proprietary investments 69%

    Outside investments 29%

    Other 2%

    SERVICES PROVIDED:

    Discrimination testing

    Form 5500

    1099s

    State/federal tax withholding

    Prototype plan document

    Plan design

    Customized plan documents

    Summary plan descriptions

    404(c) compliance

    Ongoing plan compliance

    Investment policy preparation

    Standardized education print materials

    Customized education print materials

    Standardized communications

    Customized communications

    Fund information

    Investment performance

    Finance/retirement planning materials

    Investment advice

    Employee meetings

    Employee one-on-one meetings

    Foreign-language materials

    SERVICES VIA VOICE-RESPONSE/

    OPERATOR/INTERNET

    Enrollment - v-o-i

    Contribution rate change - v-o-i

    Investment election change - v-o-i

    Transfer request - v-o-i

    Loan request/note preparation - v-o-i

    Rollovers - v-o-i

    QDROs form request - v-o

    Distribution - v-o

    Hardship withdrawal - v-o

    Address change - v-o-i

    Questions on employee statement - v-o-i

    Questions on distributions - v-o-i

    Investment information - v-o-i

    Prospectus/statement requests - v-o-i

    Daily valuation - v-o-i

    INVESTMENT MANAGEMENT:

    Assets under management ($ millions):

    Total DC assets managed 8,200

    Internally managed DC assets 7,400

    In-house investment management services are provided through:

    Mutual funds

    Separate accounts

    Commingled funds

    Stable value/GIC

    Other

    STAFFING:

    Record-keeping operations 180

    Compliance/testing/plan design 5

    Information technology 30

    Investment analysis/due diligence 55

    Dedicated conversion/installation 17

    Relationship managers 45

    Enrollment specialists 9

    Education/communication consultants 11

    Delaware Investments' Retirement Financial Services Inc. offers 15 fund families through its fund alliance structure, representing 150 funds.

    The parent company is Lincoln National Corp.

    Client contact: John M. Ring Jr..

    Diversified Investment Advisors Inc.

    4 Manhattanville Road, Purchase, NY 10577; phone: (800) 770-6797; fax: (914) 697-3617; www.divinvest.com

    RECORD KEEPING

    Total DC assets record kept ($ mil) 19,500

    For plans with:

    Fewer than 100 employees 100

    100-499 employees 1,000

    500-999 employees 3,000

    1,000-4,999 employees 4,400

    5,000-9,999 employees 5,500

    10,000-24,999 employees 3,100

    More than 25,000 employees 2,400

    No. of DC record-keeping clients:

    Corporate 401(k) 861

    Other 401(k) 108

    Taft-Hartley 29

    457 75

    403(b) 430

    % of assets under record keeping in:

    Proprietary investments 84%

    Outside investments 10%

    Self-directed brokerage/funds window 4%

    Company stock 2%

    SERVICES PROVIDED:

    Discrimination testing

    Form 5500

    1099s

    State/federal tax withholding

    Prototype plan document

    Plan design

    Customized plan documents

    Summary plan descriptions

    404(c) compliance

    Ongoing plan compliance

    Investment policy preparation

    Standardized education print materials

    Customized education print materials

    Standardized communications

    Customized communications

    Fund information

    Investment performance

    Finance/retirement planning materials

    Investment advice

    Employee meetings

    Employee one-on-one meetings

    Foreign-language materials

    SERVICES VIA VOICE-RESPONSE/

    OPERATOR/INTERNET

    Enrollment - o-i

    Contribution rate change - v-o-i

    Investment election change - v-o-i

    Transfer request - o-i

    Loan request/note preparation - o-i

    Rollovers - o-i

    QDROs form request - o-i

    Distribution - o-i

    Hardship withdrawal - o

    Address change - o-i

    Questions on employee statement - o-i

    Questions on distributions - o-i

    Investment information - o-i

    Prospectus/statement requests - o-i

    Daily valuation - v-o-i

    INVESTMENT MANAGEMENT:

    Assets under management ($ millions):

    Total DC assets managed 32,814

    Internally managed DC assets 5,470

    In-house investment management services are provided through:

    Mutual funds

    Separate accounts

    Commingled funds

    Stable value/GIC

    Variable annuities

    STAFFING:

    Record-keeping operations 320

    Compliance/testing/plan design 100

    Information technology 100

    Investment analysis/due diligence 60

    Dedicated conversion/installation 15

    Total retirement outsourcing 90

    Relationship managers 50

    Enrollment specialists 15

    Education/communication consultants 100

    Diversified Investment Advisors Inc. offers more than 300 fund families through its fund alliance structure, representing 5,000 funds.

    The parent company is AEGON USA.

    Client contact: Chris Cumming.

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