Assante Asset Management Ltd. has given the nod to Alliance Capital Management, L.P. to replace Credit Suisse Asset Management Limited as portfolio advisor of the Optima Strategy International Equity Diversified Pool. In addition, Assante will replace MFS Institutional Advisors, Inc. as portfolio advisor of the Optima Strategy Global Fixed Income Pool. The changes will be effective July 1, 2001.

Optima Strategy Pools are a multi-manager family of 18 mutual funds providing a broad range of geographically diversified investment options and multiple asset classes. Of the 18 Optima Strategy Pools, 12 are managed by external sub-advisors which include Dimensional Fund Advisors Inc.; AIM Capital Management, Inc., AIM Funds Management Inc., Scudder Kemper Investments, AGF Funds Inc., BPI Global Asset Management LLP, Sanford C. Bernstein & Co. LLC, CI Global Advisors LLP and Cohen & Steers Capital Management, Inc.

In managing the Optima Strategy International Equity Diversified Pool, Alliance Capital will employ its Research Core Equity Strategy. This strategy uses Alliance Capital’s internal security research and a disciplined portfolio construction process designed to emphasize risk control. Alliance Capital’s global equity analysts will be responsible for following companies in closely related businesses defined by industry or economic sector.

Securities are rated against expected performance relative to other stocks within each analyst’s coverage. Risk control will be achieved by marrying customized, quantitative tools with security constraints to diversify stock-specific risk. Country and sector weightings will be managed with a view to controlling non-stock specific risk. The result will be a portfolio with fundamental characteristics emphasizing Alliance Capital’s highest rated stocks and controlled for non-stock specific risk.

The assets of the Optima Strategy International Equity Diversified Pool will be invested principally in equity securities. However, investments may be made in short-term fixed income securities and cash equivalents when the portfolio advisor deems such investments appropriate, or in the event of adverse market, economic and/or political conditions.