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ATTACHMENT C-INVESTMENT OPTIONS <br />Chase & MDSass <br />P A R T N E R S <br />OVERVIEW <br />PHILOSOPHY <br />Investars desiring more return, and/ar greater consistency of return, from cash portfolios normally <br />choose bet~veen accepting the greater return fluctuarion associated with interest rate changes or <br />potential price variability associated with non-U.S. government credits. Each investment <br />strategy, of necessity, incorparates trade-offs between yield, total return, and consistency. Our <br />broad range of strategies combined with our proprietary scenario analysis models enables our <br />clients to engineer their portfolio to maximize their returns within the confines of their investment <br />constraints and the broad range of potential investment environments each client wishes to <br />consider. <br />BACKGROUND <br />Chase & MD Sass Partners is a joint venture between the Chase Manhattan Bank, and M.D. Sass <br />Investors Services, Inc. The Partnership was formed to offer high quality cash and intermediate <br />fixed income investment services which meet the specialized risk-return profiles of individual <br />institutional clients. It combines the strengths of both organizations - the global reach and <br />technological expertise of Chase with the proven track record of excellent performance and <br />professional investment capabilities of M.D. Sass. <br />WHY M.D. SASS? <br />Chase selected M.D. Sass as its partner as the result of a two year search process. Chase <br />was looking for an investment management firm that provided superior performance and <br />had experience dealing with sophisticated, institutional investors with complex <br />circumstances and objectives. M.D. Sass was selected because it best met Chase's <br />criteria. The Partnership provides investment management services across the customary <br />short and intermediate term investment horizons. The Partnership also provides <br />alternative investment strategies for the investor willing to allocate a portion of a <br />portfolio to non-traditional strategies in pursuit of total return yield within carefully <br />defined and acceptable risk parameters. <br />ORGANIZATIONAL HIGHLIGHTS <br />* The Partnership manages both tax-exempt and taxable cash portfolios. <br />* 1~1~e Partnership manages Short Ten-n Investment Funds (STIF). <br />* Dedicated staff. 28 <br />* $ 10 million minimum account size <br />I I RS AVENUE OF THE AMERICAS, I8TH FLOOR - NE\V YORK, NEW YORK 10036 <br />(212)730-2000 FAX:(212)843-5949 <br />