Advent Software's Axys ™ is a Microsoft ®Windows ™- based portfolio management software system. Advent Software provides solutions for automating investment management. Investment professionals rely on Advent's systems to integrate portfolio accounting, trade order management, client reporting, and performance measurement. With over 3,500 clients managing over $800 billion in assets, Advent's solutions are widely used in the industry. Advent Software's clients include investment advisors, brokerage firms, banks, corporations, plan sponsors, insurance companies, foundations, and universities.

Axys provides comprehensive portfolio accounting, timely decision support, extensive reporting, and sophisticated performance measurement. Axys' graphical user interface enables clients easily to record and track a wide range of equity and fixed income securities; receive trading, brokerage, custodian, pricing, DTC, and other data via automated interfaces; appraise portfolios at any point in time; and calculate and present performance in compliance with AIMR and other industry standards.

The Windows pull-down menus, dialog boxes, and on-line help make Axys easy to use. Users can access a library of nearly 200 reports, with a selection of fonts and formats for professional-quality presentations. An automated link to Microsoft ® Excel for Windows lets clients produce impressive charts by automatically downloading Axys data into graphs and spreadsheets.

Axys is integrated with a wide range of electronic interfaces for pricing including Interactive Data Corporation (IDC), which enables clients to automatically receive prices, securities information, factors for mortgage-backed securities, ratings, yields, dividend rates, and other data. Axys also has an interface to the Depository Trust Company, allowing clients to receive and affirm trades cleared through DTC. Automated interfaces for data now include Mobius M-Watch ® for performance analysis and BARRA for risk analysis and performance attribution.

Also available are electronic interfaces with brokerage firms, including Bear Stearns, Broadcort, Charles Schwab, Fidelity, Lehman Bros., Morgan Stanley, Pershing, Republic New York Securities, Smith Barney, and Wachovia Securities. Daily transactions, trade information, and in most cases position and cash balance reconciliation, are automatically downloaded through these links.

Interfaces to bank custodians for time-saving position and cash balance reconciliation include Chase Manhattan, Citibank Private Banking, Eagle Trust and Fiduciary Trust. Mutual fund interfaces include Federated Investors and T. Rowe Price.

REPORTS
Over 60 reports are included with Axys. Many allow clients to run reports with trade and settlement date information. Another 130 reports can be purchased from Advent's Catalog Reports. Additionally, clients can develop their own reports using the Axys Report Writer. For more complex needs, custom reports are also available. Descriptions of selected standard reports are listed below:

• Portfolio Appraisals - Over 30 Portfolio Appraisal reports are available. Choices include Securities Sorted by Broker, Portfolios Showing Maturities Within One Year, and reports that sort your information by date, security symbol, average maturity, asset class, and industry group.
• Realized Gain - Realized gain reports include such categories as summary by portfolio, current period purchases, specified securities, and more. Realized gain reports provide helpful information on the gain/loss history of a portfolio.
• Unrealized Gain - These reports offer helpful information on tax lots and industry groups. They display the ticker or CUSIP and show the total amount and percentage of unrealized gains/losses.
• Cash Activity - These reports provide information enabling the client to perform settlement date accounting for easier reconciliation and cash management. Reports include cash projections, interest and income reports, cash ledger reports, projected income reports, and others.
• Purchase and Sale Reports - List purchases and sales for given securities or security types, show summaries in chronological order, include gain/loss columns and other features selected by the user.
• Management and Trading - Select from block trade allocation reports, security type reports (equity, bond, etc.), model allocation reports, and others.
• Commission - Reports available include totals by broker, total commissions (per portfolio and as a percent of trade), subtotaled by quarter by broker.
• Billing - Produce statements showing management fees. There are several options including reports based on average market values, pro-rated family billing, and unique billing rates by asset class.
• Performance - There are 13 performance reports; types include performance history, historical cross-reference, portfolio performance, time-weighted returns, user-defined asset classes, and more.
• Fixed Income - Reports include bond distribution summary, bond distribution detail, yields, portfolio cash flow projection, and others.

Prices vary dependent on assets under management.

Contact your CAPIS salesperson at 800.247.6729 or 214.720.0055, or call Advent Software at 800.579.7720.

Internet address: www.advent.com