FOR IMMEDIATE RELEASE

Media Contact:
Robert Minicucci, Warner Communications, 603-488-5856, robert@warnerpr.com

Experts from Confluence and U.S. Bancorp Fund Services, LLC are Available to Comment on December 7th Money Market Mutual Fund Deadline for XML Reporting

(Pittsburgh, PA – December 6, 2010) Experts from Confluence, the leading provider of automated data management solutions for the global investment management industry, and U.S. Bancorp Fund Services, LLC, an industry-leading mutual and alternative investment service provider, are available to discuss the deadline for filing Form N-MFP; a new mandatory SEC requirement that becomes effective tomorrow.

Money market mutual funds must now submit fund-specific and portfolio-specific information every month using eXtensible Markup Language (XML). Form N-MFP requires monthly submission of fund information via XML.

Spokespeople who are available to discuss Form N-MFP, XML, and money market mutual fund reporting include:

• Scott Powell, Product Manager for Confluence. Mr. Powell is responsible for developing and commercializing Confluence’s financial reporting solutions.
• David Saler, Director of Product Implementation for U.S. Bancorp Fund Services. Mr. Saler is responsible for developing and managing several Fund Accounting and Fund Administration applications. His team was instrumental in implementing Confluence’s solution.

"Implementing the automated solution from Confluence allowed us to control and centralize data, which heightens the accuracy and quality of filing Form N-MFP. The automated process facilitates faster, more efficient filings and has increased services levels for our clients," said Mr. Saler.

"Under Money Market Fund Reform, administrators are seeing a significant increase in the amount of data they must disclose; however, the timeframe in which to report that data has rapidly decreased. Such dynamics, along with complex data delivery formats such as XML, underscore the need for automated solutions that enhance process control and allow for more efficient reporting processes," said Mr. Powell.

Confluence offers two ways to tackle complex XML filing challenges. The first is Unity® Regulatory Reporting: Form N-MFP and Money Market Fund Holdings, a comprehensive solution that automates report preparation and delivery via XML. Unity Regulatory Reporting enables administrators to centralize their money market mutual fund data, and tag it once in XML for multiple reporting needs, including Form N-MFP filing.

The second is a free utility to help fund administrators file Form N-MFP. It is an Excel-based application that produces the XML submission from data inputted manually by the administrator. The tool is available by contacting Confluence at FreeUtility@confluence.com.

Many Confluence clients have successfully test-filed numerous N-MFP forms using both solutions.

About Confluence

Founded in 1991, Confluence is a global leader in fund administration automation. Confluence helps investment management companies gain unprecedented control by automating every step of the fund administration process—including the collection, creation, confirmation, and delivery of investment product data. Results are lower costs, reduced risk, decreased reporting turnaround times, and the scalability to automate more processes without additional resources. Confluence solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of U.S. mutual funds. The Unity® platform from Confluence addresses a wide range of problems from performance measurement to customized reporting for a full array of domestic and international managed investment products, including mutual funds, funds of funds, collective funds, separate accounts, and variable products, as well as hedge funds and other alternative investments. Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with key locations in London and Luxembourg. For more information, visit www.confluence.com or e-mail info@confluence.com.

About U.S. Bancorp Fund Services, LLC

Since 1969, U.S. Bancorp Fund Services has supported investment managers, banks, and broker-dealer firms sponsoring mutual funds with assets ranging from the level of start-up to $100 billion. Established exclusively to serve the unique needs of registered and unregistered products, we are headquartered in Milwaukee, Wisconsin and provide comprehensive mutual fund and alternative investment services to 217 clients with 1,353 portfolios and aggregate assets of $624 billion. Visit us at www.usbfs.com.

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