News

Albridge Solutions to Provide Princor Financial Services Corporation Registered Representatives With Web-Based Portfolio Accounting and Performance Reporting Solution

April 4, 2005 - Lawrenceville, NJ - Albridge Solutions, the industry leader in enterprise financial data consolidation and portfolio accounting and performance reporting, announced today that Princor Financial Services Corp., a member of Principal Financial Group®, the nation's 401(k) leader and total retirement solutions innovator, has selected Albridge Solutions' Web-based Wealth Reporting application for their registered representatives.

Albridge Solutions' extensive data interface capabilities will consolidate the proprietary mutual fund and insurance products offered by The Principal® along with brokerage and other nonproprietary investments to provide Princor® Registered Representatives with an automated and comprehensive view of their clients' assets.

Looking to expand its 'virtual office' capabilities for enhanced efficiency in providing timely and accurate data quickly, Princor will also be utilizing Albridge's Web Services platform. Albridge Web Services will seamlessly and securely pass valuable consolidated client, account and holding information from the Albridge web application to other critical applications used by Princor representatives in their practices, such as eMoney Advisor for financial planning and Morningstar's Advisor Work Station for mutual fund analytics.

Princor Financial Services has also subscribed to Albridge's Replicated Data Services to help expand the back office data warehousing capabilities at Princor. Albridge's data replication delivers a fully reconciled and consolidated set of files encompassing the prior day's investment activity, including transaction and position data.

"Princor Financial Services is committed to enabling our representatives with the best tools and support available in order to provide the best client services available," said Marty Richardson, Vice President - Broker/Dealer Operations, Princor Financial Services. "Albridge's bundled solutions help us attain those goals while also enhancing our internal processes."

"Albridge is focused on providing the most efficient, user-friendly and reliable solutions available to advisors without compromising accuracy and quality," said Stuart Tarmy, VP Marketing. "Our products have been battle-tested and proven and we're happy that a leading broker dealer such as Princor has selected us to enhance their services."

The Albridge Wealth Reporting Web-based application provides system users at all levels the ability to securely view, analyze, and report on their respective clients and/or account information. Advisors can create households or portfolios of any combination of clients or accounts; generate in-depth reports to use in their practices; and automate the preparation and distribution of regularly scheduled reports to clients, saving time and manual labor. This allows Advisors to devote more of their time to productive, client acquisition and retention activities.

About Albridge Solutions (formerly StatementOne)

Albridge Solutions, www.albridge.com, consolidates investment account data from over one thousand product families. The data is used by the enterprise for multiple purposes, including: 1) Albridge Wealth Reporting for Web-based portfolio accounting and performance reporting, 2) a Web Services platform that securely passes consolidated information to other applications such as analytic, financial planning and CRM applications, and 3) creating a data warehouse that is used to power internal enterprise applications such as commissions and compliance. Albridge Solutions currently manages account data for more than 85 financial institutions, representing over $500 billion in assets, tens of thousands of financial advisors, and millions of investors. Their current clients include independent broker-dealers, banks and insurance companies. For more information, contact Stuart Tarmy at 609-806-0227.

About Princor Financial Services and the Principal Financial Group

Princor Financial Services Corporation, the registered broker dealer company of the Principal Financial Group, has been helping registered representatives assist their clients for over 30 years by providing an extensive lineup of investment solutions, investment services and technical support. The Principal Financial Group (The Principal ®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $168.7 billion in assets under management and serves some 14.9 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

Media Contact
Gene King
Keating & Co.
973-966-1100

1 "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

2 As of December 31, 2004