BIRR Portfolio Analysis, Inc. provides The BIRR Risks and Returns Analyzer ®, the BIRR Performance Analyzer, and other sophisticated, PC-based software that allows the client to assess and control equity portfolio risk.

BIRR's software can:

• Analyze the exposures of an asset or portfolio to multiple types of economy-wide surprises
• Compare the risk exposures of different assets, portfolios, sectors, industries, and indexes against one another
• Examine a portfolio's sector weightings using predefined sectors or your own sector definitions
• Perform style analysis using any set of style benchmarks
• Create a portfolio that maximizes analyst rankings, expected return, or another measure while simultaneously controlling risk exposures and sector/style weightings
• Perform asset allocation across asset classes
• Predict how portfolios will perform under different economic scenarios
• Assess the returns that managers have earned in light of the risks they have taken
• Combine multiple portfolios to evaluate overall performance and risk exposures
• Create and analyze long-short and market-neutral strategies
• Perform backtesting and historical performance attribution

BIRR's software runs on a client-provided PC with at least 50MB of hard disk space available. Software and data updates are provided on CD-ROM. Output includes reports and graphs that can be imported into a word processor, spreadsheet, or a compatible presentation graphics package such as Microsoft PowerPoint ®.

Annually

Base price $29,500

Includes all data updates and software updates on a monthly basis. Discounts are available for less frequent data updates or multiple copies at the same site.

Contact your CAPIS salesperson at 800.247.6729 or 214.720.0055, or contact BIRR directly at 919.687.7053.

Internet address: www.birr.com