ABOUT SEI

Corporate Contacts

Dana Grosser
SEI
+1 610 676-2459
dgrosser@seic.com

Julie Allison
Penrose Financial
0207 786 4872
juliea@penrose.co.uk

Press

Jul
10
2007

SEI Launches the First Shariah-Compliant Manager of Managers Equity Funds

SEI Attracts $160m in Assets in First Month

LONDON, July 10 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC), a leading global provider of asset management, investment processing and investment operations solutions, today announced the launch of the first dedicated Islamic Manager of Managers equity funds. The SEI Islamic Investments Fund Plc (SIIF) is a new umbrella UCITS III fund designed to offer Shariah- compliant investments.

This represents the first phase of SEI's expansion plans for the Middle East and Islamic Finance market, where it has already attracted significant interest in SIIF among High Net Worth investors in partnership with a major global private bank, gathering $160m in assets in the first month since launch.

Commenting, Brandon Sharrett, Managing Director of SEI's Global Private Banking business in the EMEA region said:

"Investors globally are familiar with the Manager of Managers concept and have been benefiting from this approach for quite some time. This is the first time Islamic investors will be able to take advantage of our sophisticated, internationally-recognised Manager of Managers programme. Our launch of these funds represents SEI's first step towards targeting the rapidly growing Islamic Finance market."

The SIIF umbrella fund will have four initial underlying Manager of Managers sub-funds. These are the SEI Islamic US Equity Fund, the SEI Islamic European Equity Fund, the SEI Islamic Emerging Markets Equity Fund and the SEI Islamic Pacific Basin Equity Fund. These can be used to build global asset allocation models and benefit from a rigorous manager selection process designed to limit volatility, manage risk and deliver consistent returns.

The adviser for Shariah compliance is HSBC Amanah, the Islamic Finance Division of HSBC Securities (USA), part of the HSBC Group. Shariah compliance is specifically included in the investment objective of each SIIF sub-fund, with customised Shariah guidelines for each underlying fund manager.

About SEI

SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of the period ending March 31, 2007, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $382.4 billion in mutual fund and pooled assets and manages $190.0 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from more than 15 offices in over a dozen countries. For more information, visit http://www.seic.com/.