Capitalization range: > $2 billion (to $500 billion)
Style(s): Core, Quantitative

Inception: June 1, 2007

AUM at inception: $12.8 million
AUM as of September 30, 2008: $ 9.3 million
Minimum account size: $5 million

Universe: Russell 1000^® Index constituents

Restrictions/exclusions: None (but possible at client's request)
Liquidity Constraints: Liquidity (short) would cause soft close at $1 billion and hard close at $2 billion

Parameters:
Return expectation: 4% over the benchmark per annum
Tracking error expected: <8% versus the benchmark
Cash limits: <5%, target <2%
Sector limits: +/- 5.0% relative to benchmark
Industry limits: +/- 4.0% relative to benchmark
Individual security limits: long +2.5%, underweight/short -1.5%, relative to benchmark
Typical number of holdings in Portfolio: 70-100 long, 25-50 short
Average annual turnover: 250-400%

Current Clients (September 30, 2008):
Undisclosed private/corporate/ERISA pension plan $9.3 million

Fee Schedule:
0.70% to 1.0% on AUM depending upon aggressiveness of client's implementation.

Sources
Russell 1000^® Index is a registered trademark of the Russell Investment Group
Plan Sponsor Network (PSN) is a product of Informa Investment Solutions
Global Industry Classification Standards (GICS^®) are a registered trademark of Standard & Poors and MSCI BARRA
Portfolio characteristics compiled from data supplied by The Applied Finance Group, LTD.