SOURCE: Investors Financial Services Corp.

July 05, 2006 16:15 ET

Investors Bank & Trust Places First in Global Custodian's Fund Administration Survey

BOSTON, MA -- (MARKET WIRE) -- July 5, 2006 -- Investors Financial Services Corp. (NASDAQ: IFIN) announced that its operating subsidiary, Investors Bank & Trust Company, has received the overall first place honors in Global Custodian magazine's 2006 Mutual Fund Administration Survey.

Kevin J. Sheehan, Chairman and Chief Executive Officer, commented, "This survey covers many critical service areas such as fund accounting, fund reporting, portfolio servicing, transfer agency, compliance and client service. In each of these areas, we've built our operating model to deliver services in ways that make our clients' jobs easier. So it is very gratifying to see our approach validated by the #1 ranking in this leading survey."

Along with compiling the survey's results, the editors of Global Custodian have published a written assessment of each provider taking into account the provider's scores and client interviews. Capping off its assessment of Investors Bank & Trust, the editors of Global Custodian concluded, "If it could broaden its geographic reach, it would be easy to declare Investors Bank the best fund administrator in the world."

Responses were based on in-depth questionnaires completed by 322 clients of the fund administrators in the survey. The questionnaire itself consisted of 46 questions divided into eight service areas (client service and relationship management, value, fund accounting and valuations, transfer agency, distribution support, portfolio servicing, fund reporting, and compliance). Respondents were asked to rate the quality of service from their providers on a scale of one to seven, where seven is excellent; six, very good; five, good; four, satisfactory; three, weak; two, very weak; and one, unacceptable. The overall scores are a weighted average expression of how a fund administrator scored in each area.

This marks the second time in 2006 that Investors Bank & Trust has been ranked number one in a prominent client satisfaction survey. The previous number one ranking was announced in May 2006 when the Company received the overall first place honors, for the fourth time in five years, in Global Investor magazine's Global Custody Survey.

Investors Financial Services Corp. provides services for a variety of financial asset managers including mutual fund complexes, investment advisors, banks and insurance companies. The Company's wholly owned subsidiary, Investors Bank & Trust Company, provides core services including middle office outsourcing, global custody, multicurrency accounting and mutual fund administration, as well as valued-added services including foreign exchange, securities lending, cash management and investment advisory services. Offices are located in the United States, Canada, Cayman Islands, Ireland, the United Kingdom and Luxembourg. Visit Investors Financial Services Corp. on the web at

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