Newriver Releases Prospectus Express 2.0 - Expands Technology Platform To Include E-Delivery Of Unit Investment Trust Prospectuses

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Company continues to pave the way for environmentally friendly online access and "layered disclosure" in advance of SEC's proposed Summary Prospectus Rule.

Extending Prospectus Express' e-delivery and layered disclosure functionality to include institutional investment vehicles such as UITs puts NewRiver at the center of this revolutionary industry change.

NewRiver Inc., - creators of the leading central repository of mutual fund documents and data for financial services firms - today announced the immediate release of Prospectus Express® 2.0, the latest version of the industry's only Web-based SEC-compliant document warehouse, which now includes Unit Investment Trust (UIT) prospectuses. For the last 10 years, brokerage firms, individual variable annuity and retirement plan providers have had access to a "layered disclosure" regime of compliance documents (prospectuses, supplements, semi-annual and annual reports, and statements of additional information) for every open-end mutual fund, exchange traded funds, variable annuity, and variable life product sold in the United States. Leveraging Prospectus Express, firms can provide their investors with the most accurate and up-to-date online prospectus documents, enabling them to improve productivity at the point of sale, increase operations efficiency in the back office and reduce costly overhead related to paper document fulfillment while greatly improving delivery time.

Driven by the industry's support of environmentally friendly paper reduction initiatives and the SEC's proposed Summary Prospectus Rule, NewRiver is growing its Prospectus Express platform beyond traditional mutual funds and exchange traded funds (ETFs) to now include UIT prospectuses. As the company's increasing number of e-delivered prospectuses grew from 3 million to 6 million in the past year, firms are clearly accelerating their efforts to offer electronic mutual fund and other prospectuses as a way to cost-effectively improve the investors' experience while offering a real alternative to the environmental impact of paper-only delivery.

The pending Summary Prospectus Rule from the SEC promises to reduce paper delivery by allowing a 3 to 4 page document to be delivered instead of a traditional 30 to 40 page statutory prospectus. This proposed rule is primarily designed to standardize fund information and facilitate easier cross fund comparison. Investors who want more detail as contained in the traditional statutory prospectus will be able to do so easily through "layered disclosure." This feature uses hyperlinks to point investors from the summary prospectus to the more detailed sections of the statutory prospectus. The environmentally friendly rule will also have the added benefit of drastically reducing the costs associated with printing, postage and waste associated with traditional prospectus mailings.

"The implementation of the summary prospectus means that for the first time in close to 70 years, since the Investment Company Act of 1940, the rules of mutual fund disclosure are changing to better serve the interests of the investor," says Russ Planitzer, President and CEO of NewRiver. "Extending Prospectus Express' e-delivery and layered disclosure functionality to include institutional investment vehicles such as UITs puts NewRiver at the center of this revolutionary industry change."

About Unit Investment Trusts
A unit investment trust (UIT) is a registered investment company that buys and holds a generally fixed portfolio of stocks, bonds, or other securities. "Units" in the trust are sold to investors, or "unit holders," who receive their proportionate share of dividends or interest paid by the UIT investments. Unlike other investment companies, a UIT has a stated date for termination that varies according to the investments held in its portfolio. At termination, investors receive their proportionate share of the UIT net assets. (source: Investment Company Institute http://www.ici.org/stats/uit/index.html.)

About Prospectus Express:
Prospectus Express® is the industry's only Web-based SEC-compliant data warehouse providing investor access to an online library of compliance documents (prospectuses, supplements, semi-annual and annual reports, and statements of additional information) for every open-end mutual fund, exchange-traded fund, unit investment trust, variable annuity, and variable life product sold in the United States. A comprehensive investor-communications solution, Prospectus Express enables brokerage firms, individual variable annuity providers, and retirement plan providers to deliver Web access to these documents at every phase of the investor life cycle.

About NewRiver, Inc.
NewRiver develops innovative technology solutions that help financial leaders simplify investor disclosure - providing transparency and cost savings to the delivery of fund data and investor communications. Since 1995, the company has helped some of the world's leading financial organizations move from paper to electronic disclosure via an easy to use, cost-effective, managed service offering. NewRiver pioneered the first electronic prospectus, and is the only company to guarantee its data to be "compliance grade" which allows customers to reduce risk, lower compliance costs and increase revenues. Through a patent-pending, automated process NewRiver efficiently monitors 6.5 million data points from over 23,500 fund CUSIPs. Further, the company's unique "paperless" approach improves the investor experience while offering a real alternative to the environmental impact of paper-only delivery. Relied on daily by over 100 leading financial services firms, and millions of investors, NewRiver is a trusted and growing solution provider facilitating the transition from paper-based mutual fund information, to electronic. To learn more, please visit our website http://www.newriver.com or call 978-247-7200.

Prospectus Express is a registered trademark of NewRiver, Inc. The names of actual companies or products mentioned herein may be the trademarks of their respective owners.

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