Morley continues to expand fixed income team

Article date: 11 August 2004

Morley Fund Management, one of the UK’s largest fundmanagers, has further expanded its highly rated fixed income teamwith the appointment of two investment professionals.

Stephen Lee joins as a credit portfolio manager and willreport to Paul Mingay, head of credit within Morley’s fixedincome team. Stephen joins Morley from UBS Global Asset Managementwhere he was a director and fixed income manager. He brings 18years of experience in credit from UBS and WhittingdaleLimited.

Miles Tym also joins as a fund manager in Morley’sfixed income team. He will be responsible for the management ofgilt funds and will report to Kevin Lorkins, head of gilts. Mileshas eight years experience in fixed income and joins Morley fromAlliance Capital.

Since the start of this year, Morley has been steadily growingits fixed income team with the appointments of Caroline Brown ashead of credit analysis, Nataliya Zalyesova and Cirine El Husseinias credit analysts and Upkar Kambo as fixed income quantitativeanalyst.

Ceris Williams, head of fixed income, Morley Fund Managementsaid: "Fixed income is one of Morley’s most mature andsuccessful capabilities. As we continue to grow our business andextend our product base, I am pleased to welcome Stephen and Mileson board. They bring great depth of experience and are aspassionate about the investment business as we are."

-ends-

For further information please contact:
Fiona BakerTel: 0207 809 8617
head of corporate communications
Morley Fund Management

Morley Fund Management
Morley Fund Management ('Morley') is an independently managed,London based, asset management business with over £111 billion*under management (as at 31.03.04). It actively manages a diverserange of asset classes and employs in the region of 900 staffworldwide based in London, Singapore and an associate office inBoston**.

Morley is a wholly owned subsidiary of the Aviva Group and managesboth institutional and retail funds under the Morley brand. It alsoacts as investment manager for a range of retail investment funds,marketed in the UK by Norwich Union, and international fundsmarketed under the Aviva Funds brand.

*Not including mortgage assets
**Morley Fund Management International Limited, an Avivacompany

Awards
Property Week Awards 2004 - Best Property Fund Manager
Pensions Management Provider Awards 2003 - Best Property FundManager
Fund Manager of the Year - Pensions Week Awards 2002
Specialist Manager of the Year - UK Pensions Awards 2002
Insurance Fund Manager of the Year (awarded to Norwich Union) -Standard and Poor's 2002
Sustainable and Ethical Investment and Asset Management Award -Liveable City Awards 2002

Further information about Morley Fund Management can be found atwww.morleyfm.com

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