FOR IMMEDIATE RELEASE

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

GETTING REAL WITH XBRL: CONFLUENCE WEBINAR EXPLORES
HOW SOURCE CONTENT TAGGING WILL HELP FUND ADMINISTRATORS
IMPROVE COST SAVINGS, SCALABILITY AND CONTROL

January 14 Event Features Leading Experts from Deloitte & Touche, RR Donnelley;
New Research about Accuracy of Voluntary XBRL Filings to be Unveiled

(Pittsburgh, PA – January 11, 2010) Confluence, the global investment management industry’s leading provider of automated data management solutions, today announced a webinar for fund administration executives that introduces the concept of source content tagging as a way to better leverage eXtensible Business Reporting Language (XBRL) tagging used in electronic financial filings.

The webinar, entitled “Getting Real with XBRL/XML for Fund Administration: Cost Savings, Scalability and Control with Source Content Tagging,” will take place on Thursday, January 14, 2010 at 11:00 am ET. Attendees can register at http://www.confluence.com/getcontrol.

Source content tagging, which involves integrating content creation and XBRL tags in a single step, is emerging as the de facto standard. It also is another option to document tagging, which involves manually inserting XBRL data tags into print-ready documents.

During this complimentary 45-minute webinar, a notable panel of experts will provide an overview of XML/XBRL, as well as an update on related regulatory initiatives. The panel will also discuss market forces that are driving adoption of the source tagging model in the back office. The webinar will highlight the practical applications for fund administration, including print production and regulatory filings. It will also examine the pitfalls of eXtensible content implementation and how to avoid them.

Michael A. Smith, Senior Manager, Capital Markets Technology, Deloitte & Touche, will moderate a discussion among Brian Lynch, Director, Content Management Solutions, Global Investment Markets for RR Donnelley; and Eileen Z. Taylor, PhD, CPA, an assistant professor of accounting from North Carolina State University. Dr. Taylor will discuss recent findings of a study that examines the accuracy of voluntary XBRL filings.

According to Confluence’s Executive Vice President and Chief Operating Officer Kirk Botula, “The ‘Era of the investor’ is driving the need for more complete disclosures in a timely manner. Consequently, the demand to standardize fund data delivery is escalating for fund administrators. Whatever the final outcome, incorporating source content tagging into their data will allow them to better manage risk, control costs, increase accuracy and allow for greater scalability. The goal of this webinar is to provide attendees with the ability to prepare for new data delivery methods that will positively impact their back-office operations.”

In addition to moderating, Mr. Smith will provide an overview of the basics around XML/XBRL mark-up languages and their role in electronic filings. Mr. Lynch will discuss the application of XBRL in the financial printing industry and what impact source content tagging can have in the production and delivery of mutual fund documents. His responsibilities include various RR Donnelley platforms that focus on producing compliance, regulatory and marketing materials for mutual funds and variable annuity and life products. He is also involved with the integration and implementation of various autocomposition systems and the development of proprietary financial compositions within RR Donnelley. Mr. Lynch has a B.S. in Mathematics from Randolph-Macon College.

Dr. Taylor will discuss findings of a study entitled “A Comparison of XBRL Filings to Corporate 10-Ks—Evidence from the Voluntary Filing Program,” which she co-authored, and how these findings apply to the mutual fund industry. She has more than 20 years of academic accounting experience, with a focus on information systems. She has written and conducted research in the areas of risk management, compliance, XBRL adoption, and financial reporting. She is a licensed CPA in the states of Florida and North Carolina. She has doctorate and master’s degrees in accounting from the University of South Florida.

Journalists who would like to speak with any of the panelists or attend the webinar may contact Robert Minicucci, Warner Communications, at 603-488-5856 or robert@warnerpr.com.

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. Major fund companies such as the Principal Financial Group®, T. Rowe Price, and Russell Investments; and service providers such as U.S. Bancorp Fund Services rely on Confluence. 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.

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