Summary Media Coverage

• Investment News "Target Date Fund Disclosure Plan Falls Short of the Mark, Say Critics"June 17, 2010
• U. S. News and World Report "Why Critics Are Still Skeptical About Target-Date Funds" June 16, 2010
• Investment News Net "SEC proposes new disclosures for target-date funds" June 16, 2010
• Financial Planning "Award Established Honoring Nobel Laureate Markowitz" May 27, 2010
• Pensions & Investments "New Award Carries Markowitz Name" May 27, 2010
• Institutional Investor "Modern Portfolio Theory's Evolutionary Road" May 2010
• Financial Advisor Magazine "Watch Your Investment Tail" May 2010
• Financial Planning "Time to Reevaluate" August 1, 2009
• Index Universe "Michaud Takes On Portfolio Optimization's Sacred Cows" May 10, 2009
• Investments & Pensions Europe "AP7 Names Portfolio Revamp Technology" Oct. 30, 2007
• Wall Street Journal "The All-ETF Portfolio: Pros Reveal the Ins and Outs" August 6, 2007
• Asset Allocation Advisor "Dealing with Uncertainty" Winter 2007
• Pensions & Investments "The Gold Standard" September 18, 2006
• Pensions & Investments "Attraction Grows for Institutional Investors" August 21, 2006
• Institutional Investor "Optimizing Harry Markowitz" June 2006
• Pensions & Investments "More Stocks, Lower Returns" February 20, 2006
• Wall Street & Technology "Prytania Supports Its Credit Operations With Principia System, and More" Oct. 6, 2005
• Securities Industry News "Optimizing Optimization" September 5, 2005
• Pensions & Investments "Efficient Market Theory Alive & Well" March 7, 2005
• Pensions & Investments "To Rebalance or Not Rebalance" February 21, 2005
• Financial Planning "Optimizing the Optimizers" October 2004
• Investment News "Make the Inputs Better, But Optimize" March 1, 2004
• Pensions & Investments "Markowitz Says Michaud Has Built a Better Mousetrap" Dec. 22, 2003
• Investment News "Buying on a Rumor, Selling on the News" August 8, 2003
• Institutional Investor "Michaud vs. Behavioral Finance" May 2002
• Bloomberg Wealth Manager "The Thoroughly Modern Portfolio" May 2002
• Financial Times "Searching for an Efficient Frontier" April 22, 2002
• Pensions & Investments "Northfield to Utilize New Frontier's Portfolio Optimization Process" Oct. 29, 2001
• European Pensions & Investment News "A Better Way to Use Information" July 9, 2001
• BusinessLine "Handling A Portfolio" April 23, 2001
• Bloomberg Personal Finance "A New Design for Portfolios" July/August 2000
• Pensions & Investments "Patents for Investment Processes Still Unusual" April 17, 2000
• Financial Planning "Theory Into Practice" May 2000
• New York Times "Patent No. 6,003,018 For Asset Allocation" March 6, 2000