Ibbotson Announces Managing Director and VP Promotions

CHICAGO, July 16, 2003 (PRIMEZONE) -- Ibbotson Associates, a leading provider of asset allocation and investment knowledge and tools, today announced the promotions of Peng Chen, Ph.D., CFA, to managing director and Jerry Korabik, CFP, and Daryl Lucas to vice president. Peng Chen heads Ibbotson's research department; Jerry Korabik leads the educational training group; and Daryl Lucas manages software development for the company's key product offerings.

Peng Chen, 33, joined Ibbotson in 1997. He has been instrumental in enhancing the company's reputation for intellectual capital. Under his leadership the research group has filed three patents for new techniques. Dr. Chen's work has touched every aspect of Ibbotson's product lines. The research group's data, findings and new methodologies not only enhance existing offerings but usually form the foundation for new products and services. Dr. Chen earned his bachelor's degree in industrial management engineering from Harbin Institute of Technology and his master's and doctorate in consumer economics from Ohio State University.

Since joining Ibbotson in early 2000, Jerry Korabik, 34, has managed the educational training department. An engaging speaker and knowledgeable teacher, Mr. Korabik has invigorated Ibbotson's leader-led training, expanding the content and the market. In the coming year, he will also manage the company's web-based training efforts. Mr. Korabik worked as a senior consultant in the Financial Planning Solutions group of PricewaterhouseCoopers prior to joining Ibbotson.

In 1998, Daryl Lucas, 39, joined Ibbotson as a Microsoft Office connectivity specialist. His skills in software development quickly earned him a promotion to software engineer in 2000. During his tenure at Ibbotson, Mr. Lucas has been an invaluable leader spearheading the development of the company's newest software products. Prior to joining Ibbotson, Mr. Lucas was a project manager for the Livingstone Corporation.

About Ibbotson Associates

Ibbotson Associates, founded by Professor Roger Ibbotson in 1977, is a leading authority on asset allocation, providing products and services to help investment professionals obtain, manage and retain assets.

The company's business lines include investment consulting and research; planning and analysis software; wealth forecasting; educational services and a widely used line of NASD-reviewed presentation materials. With offices in Chicago, New York and Tokyo, Ibbotson provides integrated investment knowledge, leading-edge technology, multi-conceptual education and a variety of sales presentation solutions. Ibbotson markets its integrated product line of investment analytical tools and services to institutional money managers, plan sponsors and consultants for quantitative analysis, high-level decision making and presentations. The company's clients also include financial planners, brokers, mutual fund firms, private bankers and small money managers.


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