NEW YORK, July 19, 2005 — Dow Jones Indexes, a leading global index provider, has granted Arrivato Advisors LLC its first license to use the Dow Jones U.S. Target Date Indexes as the basis of mutual funds. The “Arrivato Dow Jones U.S. Target Date Funds” are the first indexed “life-cycle” funds specific to the U.S. market.

Dow Jones Target Date Indexes are designed to be used as the benchmark for balanced and multi-asset-class portfolios with risk profiles that become more conservative over time by reducing the equity component as a target date approaches.

Arrivato Advisors, an investment management firm registered with the Securities and Exchange Commission, will utilize the Dow Jones U.S. Target 2010, Dow Jones U.S. Target 2015, Dow Jones U.S. Target 2020, Dow Jones U.S. Target 2030, and Dow Jones U.S. Target 2040 indexes to create products for investors who wish to take a “set-it-and-forget-it” investment approach.

“Over the long run, indexing has proven its ability to outperform active management,” said Michael A. Petronella, president of Dow Jones Indexes/Ventures. “Now, investors with a preference for life-cycle products have the advantage of indexing. We are pleased that Arrivato has chosen the Dow Jones U.S. Target Date Indexes as the basis of its fund offerings.”

“The target date approach is one favored by defined contribution investors, particularly for 401(k) and IRA programs,” said Eric Rubin, president of Arrivato Advisors LLC. “Using the Dow Jones U.S. Target Date Index helps investors achieve their investment goals, while simplifying their allocation strategies.”

Each Dow Jones U.S. Target Date Index is a blend of indexes that track three separate asset classes — stocks, bonds and cash. The weightings of the indexes representing each separate asset class are adjusted on a monthly basis to hit predefined relative risk levels. Each index in the target date family comprises six Dow Jones equity indexes and three Lehman bond indexes. The Lehman one-to-three month T-bill index serves as the cash component.

Over time, the relative risk of each Dow Jones U.S. Target Date Index declines to a more conservative 20% equity index component weighting from an aggressive 90% equity index component weighting. Once the 20% level is reached, the index’s equity component weighting remains constant.

The methodology, as well as a full list of components — including weightings and index values are available on the Dow Jones Target Date Indexes web site.