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Trusco Capital Management, Inc. to Acquire a Minority Interest in Zevenbergen Capital Investments LLC

Nov 5, 2003

Trusco Capital Management, Inc. announced today that it has acquired a minority equity interest in Zevenbergen Capital Investments LLC (ZCI) a Seattle-based asset management company with over $900 million in assets under management. Terms of the acquisition were not disclosed.

Founded in 1987, ZCI specializes in managing portfolios in the aggressive growth equity style for corporations, public funds, institutions and accredited individuals nationwide. Its investment products include the Active All-Cap Growth Equity Portfolio, Z/Tech Growth Equity Portfolio and Z/Cap Small-Mid Growth Equity Portfolio. ZCI will continue to operate as a separate boutique investment manager under existing management and the ZCI name, continuing to serve clients in the same, high quality manner it always has.

"The ZCI team brings a reputation of competitive investment performance based on solid fundamental capabilities as well as investment products that enhance and complement our existing offerings," said Douglas S. Phillips, CFA, president of Trusco Capital Management. "Importantly, this is a great cultural fit as the ZCI team epitomizes the very sound attributes of teamwork, solid investment analysis and client service that Trusco emphasizes. We look forward to bringing their expertise to our clients and significantly expanding their distribution channels."

"We are pleased to be on the same team with Trusco Capital Management," said Nancy A. Zevenbergen, CFA, president of Zevenbergen Capital Investments LLC. "Trusco has an excellent reputation, from their dedicated client service to their work with institutional clients including not-for-profit organizations and pension plans. The Southeast is a dynamic marketplace, which complements our existing business. We look forward to the opportunities presented by this partnership."

Trusco Capital Management, Inc. is one of the largest institutional investment management firms in the U.S., with $49 billion in assets under management. The firm provides customized investment management to a growing client base that includes endowments, foundations, corporations, healthcare organizations, municipalities, public funds, associations, insurance companies, labor unions and high net worth individuals. Trusco employs specialists in a wide variety of investment disciplines including liquidity management, fixed income and equity management. In addition, the firm serves as the investment adviser to the STI Classic Mutual Fund family. Trusco Capital Management is an SEC Registered Investment Adviser headquartered in Atlanta, Ga.

SOURCE: Trusco Capital Management, Inc.

CONTACT: Elizabeth Wilson of Trusco Capital, +1-404-230-1037