Investing for Success Program to Be Held in Columbia, SC

Contacts:
Leslie Dunbar, NUL, 212/558-5438
Carol Davis, COBI-IEF, 336/922-6240
Denise Murray, ICI, 202/371-5420

Washington, DC, September 17, 2001 - The Coalition of Black Investors-Investment Education Fund (COBI-IEF), National Urban League (NUL), and the Investment Company Institute Education Foundation (ICIEF) 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 Columbia, South Carolina.

The Investing for Success workshop is scheduled for Saturday, October 13, 2001. Registration is from 2 p.m. to 2:30 p.m. and the program is scheduled between 2:30 p.m. and 5 p.m. at the South Carolina State Museum, 301 Gervais Street in Columbia. The Coalition of Black Investors-Investment Education Fund, the South Carolina Chapter of COBI, the National Urban League, the Columbia Urban League, and the Investment Company Institute Education Foundation sponsor the workshop, which will be presented by L. Duane Davis, founder of the Coalition of Black Investors-Investment Education Fund. To reserve a space at the free workshop, call 1-877-358-5888 before October 11.

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 will also receive a series of investor awareness brochures, a video discussing successful investing and information on additional resources.

The Columbia 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. 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 other groups with similar incomes. The Coalition of Black Investors-Investment Education Fund reports that fewer than one in five African Americans participate in their employers' 401(k) retirement plan. 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, COBI-IEF, and ICI share an important goal of helping African Americans to become economically self-sufficient."

"Investor education initiatives, such as Investing for Success, serve an important role in promoting a more comprehensive understanding of investing for African Americans," said Carol Davis, President of COBI-IEF.

"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 COBI-IEF and the National Urban League we look forward to bringing the program to Columbia."

Investing for Success workshops have taken place in Philadelphia, Los Angeles, Houston, Boston, New York, Seattle, Washington, DC, Baltimore, Chicago, and Atlanta. All have received high ratings from participants. Additional workshops are being planned.

The Coalition of Black Investors-Investment Education Fund is recognized as the principal association for individual African-American investors. The National Urban League is the nation's oldest and largest community-based movement devoted to empowering African Americans to enter the economic and social mainstream. 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.