Four Phoenix Investment Strategies Added to American Express Wealth Management Service; Three Phoenix Investment Partners Managers, Six Strategies Available to AMEX Investors

Business Wire, Jan 2, 2001

Business Editors

HARTFORD, Conn.--(BUSINESS WIRE)--Jan. 2, 2001

Phoenix Investment Partners has tripled the number of investment strategies it has available through American Express Wealth Management Service (WMS), its discretionary investment management service. Two Phoenix Investment Partners money managers, representing four investment strategies, join a third Phoenix manager with two strategies currently in the WMS program. The new additions are two large-cap and one mid-cap growth portfolios managed by San Francisco-based Seneca Capital Management and a small-cap value portfolio managed by Hollister Investment Management in Sarasota, Florida. The two existing Phoenix strategies in the WMS program are small-/mid-cap and large-cap growth portfolios managed by Roger Engemann & Associates of Pasadena.

"We are excited to be expanding our relationship with American Express Financial Advisors and to provide their clients with a more focused form of money management through managed accounts," said Jack Sharry, President, Private Client Group, Phoenix Investment Partners. "Our money managers are looking forward to working with their financial advisors to address their affluent clients' special investing and tax planning needs."

The newest Phoenix Investment Partners strategies offered through WMS are: Seneca Capital Management's mid-cap "Earnings-Driven Growth," large-cap "Growth with Controlled Risk," and large-cap "Tax-Sensitive Growth" portfolios; and Hollister Investment Management's small-cap "Classic Value" product. The strategies were chosen based on the managers' long-term performance in managed accounts and mutual funds.

Phoenix Investment Partners, Ltd. is a leading U.S. investment management company providing individuals and institutions with a full range of investment disciplines and money-management services through eight boutique money managers -- including Seneca Capital Management, Roger Engemann & Associates, and Hollister Investment Management, a division of Phoenix Investment Counsel. At September 30, 2000, Phoenix Investment Partners had $61.9 billion in assets under management, consisting of $32.8 billion in institutional assets and $29.1 billion in private client (retail) assets, including $9.8 billion in managed accounts and $13.3 billion in Phoenix mutual funds. For additional information, visit www.phoenixinvestments.com.

American Express Wealth Management Service (WMS) is a separately managed investment account service offered by American Express Financial Advisors. The minimum required to open a WMS account is $100,000. WMS was launched in 1985 and has helped American Express Financial Advisors excel in serving affluent clients.