Investing for Success Program to Be Held in Washington, DC, May 2001

Washington, DC, May 2, 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 Washington, DC.

The Washington, DC Investing for Success workshop is scheduled for Thursday, May 24, 2001. Registration is from 6 p.m. to 6:30 p.m. (light refreshments will be served) and the program is scheduled between 6:30 p.m. and 8:30 p.m. at Howard University School of Law, Moot Court Room, Houston Hall, 2900 Van Ness Street, NW, Washington, DC. The National Urban League, the Greater Washington Urban League, Profit Investment Management, and the Investment Company Institute Education Foundation sponsor the workshop, which will be presented by Eugene A. Profit, President and Chief Investment Officer of Profit Investment Management. To reserve a space at the free workshop, call 1-877-358-5888 before May 21.

Eugene A. Profit of Profit Investment Management will present
the Investing for Success workshop in Washington, DC on
May 24 at Howard University's School of Law.

The Washington, DC 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 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 Washington, DC."

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

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.

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The 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 mission of the Urban League movement is to enable African Americans to secure economic self-reliance, parity and power and civil rights. 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.