Investors Will Benefit From the SEC’s Data-Tagging

Technology Also Will Let Fund Buyers Easily Compare Fees, Performance, and Risks

Washington, DC, September 25, 2006 – Investment Company Institute President Paul Schott Stevens today issued the following statement on the SEC’s plans for new EDGAR technology that will put enhanced disclosure within the grasp of millions of American investors, including mutual fund shareholders:

We applaud Chairman Cox for today's moves to overhaul the EDGAR system and to accelerate development of interactive data tools for investors. These steps represent significant progress toward harnessing the potential of the Internet for the benefit of all.

The Investment Company Institute and the mutual fund industry have embarked on a major project to give investors interactive access to the mutual fund data that they use most, covering historical performance, fees and expenses, and risks. Like Chairman Cox, we believe the Internet can empower investors by providing disclosure that is as useful as it is complete.