Press Room
Press Release

FOR IMMEDIATE RELEASE | February 28, 2001
CONTACT: Deborah Tucker, (703) 707-8830 ext. 15

NAVA and Info-One/VARDS Announce Agreement for Collection of Industry-Wide Net Flow Statistics
Plans to Publish Standardized Net Flows from NAVA Members

The NAVA and Info-One's VARDS Data Collection Service are pleased to announce their agreement to have Info-One/VARDS collect standardized net flow data covering variable annuity contracts. "It is imperative our industry be consistent with the mutual fund industry in capturing and releasing sales data on a net flow basis", said Mark Mackey, CEO of NAVA.

Similar to the quarterly data currently published in the National Underwriter, NAVA will call upon all of its members to provide this data to Info-One/VARDS using the standardized format agreed upon by the NAVA Research Committee. Surveys are currently being mailed to each insurance company so that the first presentation of industry net flow data will be announced in conjunction with the Tenth Anniversary of NAVA, to be celebrated at the organization's Annual Conference in Boston in October 2001. "Our research committee has spent a great deal of time ensuring that the methodology used in collecting this data will result in accurate reporting", said Rick Carey, Chairman of the Research Committee, and Executive Vice President of Info-One.

For years, the mutual fund industry has reported sales on a net flow basis. This is done to provide a true and accurate picture of the amount of new money flowing into the industry. "With a significant amount of money moving from product to product within the industry, this effort to capture and report net flows is imperative information for the insurers issuing these contracts, the distributors who market them, and the consumers who buy them", said David Shapiro, Chairman and CEO of Info-One.

NAVA is a non-profit trade association located in suburban Washington D.C. NAVA provides a variety of services to the industry including educational forums, lobbying efforts, and conferences aimed at furthering the development of fixed and variable annuities, income annuities and variable life insurance. NAVA also maintains and supports an educational website for consumers at www.RetireOnYourTerms.com.

Headquartered in Silicon Valley, California, Info-One provides technology tools, unique product design models and other services to the financial services industry. In July 2000, Info-One announced the acquisition of VARDS, the leading sales tracking and product information source for variable annuities. As a result of this acquisition and enhanced data collection processes, Info-One leads the industry with the most comprehensive database of insurance and annuity products available. Through this joint effort with NAVA members, Info-One/VARDS data will continue to act as the industry's most widely quoted and referenced variable product analytical source.

To learn more about NAVA and to become a NAVA member, please contact Mary Alfano at 703-707-8830, ext. 13, or visit www.navanet.org. To participate in this important information gathering, please contact Rick Carey at Info-One/VARDS at 770-998-5186, ext.11. For more information about Info-One's products and services, please contact Naomi Holland by email at nholland@info-one.com, or phone 408-558-7070, Ext 230, or visit www.info-one.com.