Investing for Success Program to Be Held in New York, January 2001

Washington, DC, January 4, 2001 - The National Urban League and the Investment Company Institute Education Foundation today announced that one in a nationwide series of investor education workshops promoting greater understanding among middle-income African-Americans about the benefits of long-term investing will be held in New York.

The New York Investing for Success workshop is scheduled for Thursday, January 25, 2001. Registration begins at 5:30 p.m. and the program is scheduled between 6 p.m. and 8 p.m. at The Graduate Center, The City University of New York (CUNY), Proshansky Auditorium, 365 Fifth Avenue, New York, New York. The National Urban League, the New York Urban League, and the Investment Company Institute Education Foundation sponsor the workshop. Obie L. McKenzie, Managing Director, Merrill Lynch Investment Managers, will present the workshop. To reserve a space at the free workshop, call 1-877-358-5888 by January 22.

Obie L. McKenzie of Merrill Lynch Investment Managers will
present the Investing for Success workshop in New York
on January 25 at The Graduate Center, CUNY.

The New York workshop is the latest in a series of investor education workshops aimed at providing information to investors about building wealth while maintaining realistic expectations and encouraging long-term investment planning. A partnership between the National Urban League and the Investment Company Institute Education Foundation, the Investing for Success workshops were developed in response to surveys that show that despite a significant increase in investor awareness among African-Americans, the community directs a smaller portion of its income to long-term investments than do other groups with similar incomes. A 1998 State of Black America report shows that the primary reason African-Americans cite for not investing is lack of knowledge.

Hugh Price, President of the National Urban League, said, "The Investing for Success program is designed to inspire African-Americans to become more knowledgeable about investing for retirement and to take advantage of opportunities to accumulate wealth. This partnership is one of the first steps toward accomplishing the National Urban League's mission to enable African-Americans to secure economic self-reliance, parity, and power in the 21^st century. The National Urban League and ICI share an important goal of helping African-Americans to become economically self-sufficient."

"The Investing for Success program brings important information about the benefits of long-term investing to the African-American community," said Institute Executive Vice President Julie Domenick. "Program participants agree that the workshop is clearly presented, useful, and something they would recommend to others. Together with the National Urban League and its local affiliate, we look forward to bringing the program to New York."

The nationwide partnership was announced in May 2000. Investing for Success workshops have taken place in Philadelphia, Los Angeles, Houston, and Boston. All have received an enthusiastic response from the African-American community. Additional workshops tentatively are planned for Seattle, Chicago, Atlanta, Baltimore, Kansas City, Minneapolis, San Francisco, and Washington, DC.

Each participant at the program's personal finance workshops will use a series of worksheets to help them assess their risk tolerance and retirement needs and develop an action plan. They also receive a series of investor awareness brochures, a video discussing successful investing, and information on additional resources.

The National Urban League is the nation's premier civil rights and social services organization, with a long and successful history of service to the African-American community. The Investment Company Institute Education Foundation is an affiliate of the Investment Company Institute, the national association of American mutual funds, closed-end funds, and unit investment trusts.