Development Partners, Inc. Announces Professor Jeremy J

Index Development Partners, Inc. Announces Professor Jeremy J. Siegel as Senior Investment Strategy Advisor

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November 17, 2004 04:19 PM US Eastern Timezone Index Development Partners, Inc. Announces Professor Jeremy J. Siegel as Senior Investment Strategy Advisor

NEW YORK--(BUSINESS WIRE)--Nov. 17, 2004--Index Development Partners, Inc. (PINK SHEETS: IXDP.PK) today announced that Wharton Professor Jeremy J. Siegel has joined the Company as its Senior Investment Strategy Advisor. Professor Siegel, who will continue his full-time teaching position at Wharton, will serve on a consulting basis, advising the Company on investment strategy regarding its proprietary stock indexes. Professor Siegel will also serve as a member of the Company's Board of Directors.

"Professor Siegel will play an important role in product development and in communicating the advantages of indexing. We share a common vision on how to best serve investors," said Company CEO Jonathan Steinberg.

"Indexing and ETFs are the future of investing," said Professor Siegel. "Low-cost ETFs based on broad-based indexes give investors diversification, real-time liquidity and a tax-efficient way to capture the long-term returns generated by stocks as an asset class. The stock indexes the Company will soon unveil are consistent with my own research into where the best returns may be found in the stock market in the years ahead."

RRE co-founder and Company Director Jim Robinson IV added: "Jeremy Siegel is a world-class economist and a true market visionary. His reputation in the investment community is second to none. His support and guidance going forward give me great confidence that the Company will be able to capitalize on the migration of assets towards ETFs."

"A sea change is underway as more investors realize that index funds and ETFs offer superior advantages over traditional mutual funds," said RRE co-founder and former American Express Chairman and CEO James D. Robinson III. "I have been in the financial services business 40 years, and this venture represents one of the more significant business opportunities I have seen. With Michael Steinhardt's passion for performance, Jeremy Siegel's expertise, and the following both men have among investors and financial advisors, we have cemented the foundation for a superior asset management company."

Professor Siegel's book Stocks for the Long Run was named by Business Week magazine as one of the top ten business books published in 1994. James Glassman of the Washington Post called it one of the ten best investment books of all time. Professor Siegel's latest book The Future for Investors is scheduled for publication in early 2005.

About Michael H. Steinhardt

After graduating from the Wharton School of Business in 1960, Michael H. Steinhardt began his financial career as a research associate, staff writer and securities analyst. In 1967 he formed his own hedge fund company, Steinhardt Partners L.P., where he made his fortune in what has been described as one of the most renowned careers in the history of Wall Street. In 1995, Mr. Steinhardt closed his lucrative hedge fund to devote his time and fortune to philanthropy.

About RRE Ventures

New York based RRE Ventures (http://www.rre.com), founded in 1994 by Jim Robinson III, Jim Robinson IV and Stuart Ellman, invests in entrepreneurial technology companies, placing special emphasis on software, communications, financial services and related enterprises that can become industry leaders in rapidly growing http://home.businesswire.com/portal/site/google/inde...dmViewId=news_view&newsId=20041117005817&newsLang=en (1 of 2)12/14/2004 7:41:22 AM Index Development Partners, Inc. Announces Professor Jeremy J. Siegel as Senior Investment Strategy Advisor

markets. With $500 million under management, RRE combines significant capital resources with a proven track record of successful managerial, financial and technical experience, in addition to corporate contacts that create value for its portfolio companies.

About Jeremy J. Siegel

Jeremy J. Siegel is the Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania. He graduated from Columbia University in 1967, received his Ph.D. in Economics from the Massachusetts Institute of Technology in 1971, and spent one year as a National Science Foundation Post- Doctoral Fellow at Harvard University. Prof. Siegel taught for four years at the Graduate School of Business of the University of Chicago before joining the Wharton faculty in 1976. Prof. Siegel has written and lectured extensively about the economy and financial markets, has appeared frequently on CNN, CNBC, NPR and others networks, and has contributed articles to The Wall Street Journal, Barron's, The Financial Times and other national and international news media. In 1994 Professor Siegel received the highest teaching rating in a worldwide ranking of business school professors conducted by Business Week magazine. Prof. Siegel served for 15 years as head of economics training at JP Morgan and is currently the academic director of the U.S. Securities Industry Institute. Prof. Siegel is Senior Investment Strategy Advisor for Index Development Partners, Inc. and is a member of its Board of Directors.

About Index Development Partners, Inc.

Index Development Partners, Inc. develops stock indexes and intends to become a sponsor of exchange-traded funds and other financial products.

Contacts Richard Dukas Communications Richard Dukas, 212-704-7385 [email protected]

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