July 26, 2004

LOS ANGELES, July 19, 2004 — Joan A. Payden, CFA, president and CEO of global investment management firm Payden & Rygel, will serve as the distinguished speaker at the 2004 Executive MBA Program commencement exercises at UCLA Anderson School of Management. The ceremony, which will honor graduates of UCLA Anderson’s Executive MBA program, will be held on Saturday, Aug. 7, 2004, at 5 p.m. in UCLA’s Royce Hall.

Payden, who in 1983 left the partnership of a large investment firm to found Payden & Rygel, is a trailblazer in the field of investment management. Since her firm’s creation 21 years ago, she has overseen its international expansion and its growth to more than $50 billion in assets under management. Payden & Rygel was named “U.S. Bond Manager of the Year” based on its investment excellence in 2003 by Global Investor Magazine.

“We’re pleased to have someone with Joan Payden’s abundance of expertise and knowledge of business and management share her wisdom with our graduates,” said George Geis, associate dean of UCLA Anderson’s Executive MBA program.  “Her insight as a global investment manager and pioneering entrepreneur will truly enlighten us all.”

In 1992, Payden’s firm created Payden & Rygel Investment Group, a family of mutual funds, of which she is chairman and chief executive officer.  Subsequently many of these strategies were duplicated in offshore funds domiciled in Ireland.  In 1998 Payden & Rygel Global Ltd. was founded in London.  At the same time, the firm established Metzler/Payden LLC, its joint venture with Metzler Bank, Germany’s oldest private bank.  Payden is also a member of the Payden & Rygel Investment Policy Committee and serves as chairman of the board.

Prior to founding Payden & Rygel, Payden was managing director of West Coast operations for Scudder, Stevens & Clark, where she rose through the ranks to become the first woman partner of the firm.  She currently serves on the Board of Visitors of UCLA Anderson School of Management and is a trustee of the University of Southern California and Loyola Marymount University.  Payden is also a member of the board of directors of the John Tracy Clinic, the California Chamber of Commerce, the Amateur Athletic Association and the Natural History Museum of Los Angeles.  She is past chairman of the Investment Counsel Association of America.

Payden, who holds the Chartered Financial Analyst (CFA) designation, is a graduate of the Advanced Management Program at Harvard Business School.  She earned a bachelor’s degree in mathematics and physics from Trinity College (Washington, D.C.), which last year bestowed upon her an honorary doctor of letters degree.

About Payden & Rygel
Payden & Rygel (http://www.payden.com) is one of the largest global independent investment managers in the United States, with more than $50 billion in assets under management.  Since 1983, the firm has advised corporations, foundations, endowments, pension plans, public funds and individual investors on their overall investment strategies.  The firm, headquartered in Los Angeles with offices in London, Dublin and Frankfurt, is the adviser to the Paydenfunds family of no-load, low-expense bond and stock mutual funds.

About UCLA Anderson School of Management
UCLA Anderson School of Management is perennially ranked among the top-tier business schools in the world.  Award-winning faculty renowned for their research and teaching, highly selective admissions, successful alumni and world-class facilities combine to provide an extraordinary learning environment.  Established in 1935, UCLA Anderson provides management education to more than 1,400 students enrolled in full-time, part-time and executive MBA programs and doctoral programs.

UCLA Anderson’s faculty includes outstanding educators and researchers who share their scholarship and expertise in such fundamental areas as finance, marketing, accounting, business economics, decision sciences, operations and technology management, human resources and organizational behavior, information systems, strategy and policy.

Recognizing that the school offers unparalleled expertise in management education, the world's business community turns to UCLA Anderson School of Management as a center of influence for the ideas, innovations, strategies and talent that will shape the future.

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