METZLER/PAYDEN SELECTS DOW JONES WILSHIRE EX-US REAL ESTATE INDEX AS BENCHMARK FOR NEW FUND

NEW YORK— May 22, 2007. Dow Jones Indexes, a leading global index provider, and Wilshire Associates, a global leader in investment technology, investment consulting and investment management, today announced that the Dow Jones Wilshire ex-US Real Estate Securities IndexSM will serve as a benchmark for the Metzler Payden International Real Estate Fund.

The fund is the first real estate fund offered by Metzler/Payden, LLC, a U.S.-based investment management firm that is a 50/50 joint venture between independent partners Metzler Bank and Payden & Rygel. The new fund will be benchmarked to the Dow Jones Wilshire ex-US Real Estate Securities Index (RESI).

“Real estate as a publicly traded asset class has outperformed the broader U.S. equity market in the past few years. Whether investors continue to seek returns in the U.S. or look internationally, they require a reliable and comprehensive global real estate index family to gauge how their active portfolios compare to the overall market segment,” said Michael A. Petronella, president of Dow Jones Indexes and Reprints.

“The Dow Jones Wilshire RESI has been the U.S. standard for benchmarking both direct real estate investment and real estate securities in the U.S. for decades,” commented Dennis A. Tito, the chairman and chief executive officer of Wilshire Associates who developed the then-named Wilshire 5000 in 1974.  “The Dow Jones Wilshire ex-US RESI has the same focused real-estate measurement rules that managers need to demonstrate their skill in real estate investing.”

“We believe that International Real Estate is going to be an exciting asset class in the future,” said Chris Orndorff, co-portfolio manager of the Metzler Payden International Real Estate Fund (ticker: MPREX).  “As we looked to introduce a strategy to American investors that we have been managing for European clients for years, we wanted to take a thoughtful approach to selecting a benchmark for the Fund.  The Dow Jones Wilshire ex-US RESI is clearly the best index available.  It accurately represents the real estate universe and the service level of the Dow Jones Wilshire indexes business team is superior to the other real estate index providers.”

Launched in March 2006, the Dow Jones Wilshire Global Real Estate Indexes measure the types of global real estate securities that represent the ownership and operation of commercial or residential real estate. These global indexes serve as a proxy for direct real estate investment by institutions. Because actual real estate holdings are bought and sold infrequently, indexing the “market value” of these holdings is slow and problematic, while pension plans and other institutions need a more reliable and regularly available benchmark.

The Dow Jones Wilshire Global Real Estate Indexes track real estate operating companies (REOCs) and real estate investment trusts (REITs) in 24 countries. The Dow Jones Wilshire Global REIT IndexSM is a subset of the Dow Jones Wilshire Global Real Estate Securities IndexSM and comprises those REITs and REIT-like securities in the larger index. While REITs dominate the publicly traded real estate securities market in the U.S., elsewhere in the world REOCs are in the majority. As governments worldwide seek to provide access to real estate investment, there will be more growth in the availability of REIT-like vehicles.

To be included in the indexes, an operating company or REIT must be an equity owner and operator of commercial or residential real estate and must generate at least 75% of its revenue from such assets or operations. It also must meet minimum requirements for market capitalization and liquidity. Securities of certain types of companies, such as mortgage REITs, are excluded, as are companies with more than 25% of their assets in direct mortgage investments. The reason for this exclusion is that factors other than real-estate supply and demand—such as interest rates—influence the market values of these companies.

As of May 21, 2007, the Dow Jones Wilshire ex-US RESI is up 9.29% for the year.

About Metzler/Payden, LLC
Metzler/Payden, LLC (metzlerpayden.com), a 50/50 joint venture between independent partners Metzler Bank and Payden & Rygel, has more than $2 billion in assets under management. Headquartered in Frankfurt, Metzler Bank (metzler.com) has been advising clients on their overall investment strategies for more than 333 years. The firm, the oldest German private bank owned exclusively by the founding family, specializes in a wide range of global balanced and European products, as well as international real estate. Founded in 1983, Payden & Rygel (payden.com), with $54 billion in assets under management, is one of the largest independent investment managers in the U.S. The firm, headquartered in Los Angeles with offices in London, Dublin and Frankfurt, is the advisor to Paydenfunds (paydenfunds.com), a family of no-load, low-expense stock and bond mutual funds.

About the Dow Jones Wilshire Index Family
The development of the global family of indexes in 2006 marked a new phase of the Dow Jones Wilshire relationship. The affiliation began in 2004 when Dow Jones and Wilshire co-branded and marketed the Dow Jones Wilshire family of indexes. By extending the Dow Jones Wilshire methodology used in the U.S. internationally, the global indexes provide unprecedented breadth, consistent global coverage, objective and transparent rules.

Dow Jones Wilshire indexes are available on market–data vendor platforms– many in real–time format–and on the Dow Jones Indexes (www.djindexes.com) and Wilshire Associates (www.wilshire.com) Web sites. The Dow Jones Wilshire 5000SM Composite Index, the only true broad market index, is calculated and distributed by Dow Jones Indexes pursuant to an agreement between Dow Jones & Company and Wilshire Associates Incorporated. The Dow Jones Wilshire Global Total Market Index, the broadest measure of global equities, was launched in October 2006.

About Dow Jones Indexes
A full-service index provider, Dow Jones Indexes develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner of the Dow Jones STOXX indexes, the world’s leading pan-European indexes, and together with Wilshire Associates, provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 59 markets. Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. www.djindexes.com

Dow Jones Indexes is part of Dow Jones & Company (NYSE: DJ; dowjones.com), which is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Factiva, Dow Jones Licensing Services, Dow Jones Indexes and Dow Jones Financial Information Services.  Its Local Media Group operates community-based information franchises. Dow Jones provides news content to CNBC and radio stations in the U.S.

About Wilshire Associates
Wilshire Associates is a leading global investment technology, investment consulting and investment management firm with four business units: Wilshire Analytics, Wilshire Funds Management, Wilshire Consulting, and Wilshire Private Markets. The firm was founded in 1972, revolutionizing the industry by pioneering the application of investment analytics and research to investment management for the institutional marketplace. Wilshire also is credited with helping to develop the field of quantitative investment analysis that uses mathematical tools to analyze market risks. All other business units evolved from Wilshire's strong analytics foundation.

Wilshire developed the index now known as the Dow Jones Wilshire 5000 Composite IndexSM, the first asset/liability models for pension funds, the first U.S. equity style metrics work and many other "firsts" as the firm grew to nearly 350 employees serving the investment needs of institutional and high net worth clients around the world.

Based in Santa Monica, CA, Wilshire provides services to clients in more than 20 countries representing in excess of 600 organizations with assets totaling more than $12.5 trillion. With nine offices on four continents, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services. Please visit www.wilshire.com for more information.

Journalists may email questions regarding this press release to PRIndexes@dowjones.com or contact Dow Jones Indexes/STOXX press office:
New York: +1-212-597-5720
Frankfurt: +49-69-29-725-290

To contact Wilshire Associates public relations, please email kim.shepherd@wilshire.com or call: Chicago: Kim Shepherd, +1-312-762-5504.

To contact Metzler/Payden public relations, please email Kimberly Tipton at 213 830-6621 or ktipton@payden-rygel.com.