2008-08-18 23:11:02 -

- The Reserve remembers Henry "Harry" B.R. Brown, our former chairman, who died on Monday, August 11, 2008. Mr. Brown was a driving force in the creation of the money market mutual fund. His pioneering efforts in liquidity management, financial product innovations, and in particular information technology management have made a lasting positive impact on the financial industry and millions

of investors around the world who have enjoyed better returns on their savings.

Bruce Bent, chairman of The Reserve said, "We are deeply saddened by the loss of Harry and will miss him greatly, both personally and professionally. A true friend, Harry was my business partner until 1999 and instrumental in the creation of the Reserve Fund. As they say, we had a good run and so has the world of banking and finance, and it will never be the same because of the creation of the world's first money market fund. Harry was a good man in every sense of the word. On behalf of everyone here at The Reserve, our thoughts and prayers go out to the Brown family."

In the late 1960s, with inflation running past 10%, people were losing money in their bank accounts because Regulation Q of the Glass-Steagall Act limited the interest rate banks could pay individuals to 5%. Mr. Brown and Mr. Bent saw an opportunity to bring higher yields to individual investors by pooling together the assets and investing in T-bills and other cash equivalents through a mutual fund vehicle. The newly created money market fund turned savers into investors.

Bruce Bent II, The Reserve's vice-chairman and president, added, "Mr. Brown was a great inspiration to me. I remember his desk was always littered with fascinating gizmos that spoke to his love of engineering and innovation. No doubt these impressions, as well as his principles and passion, remain at the core of The Reserve's philosophy. It is our commitment to ensure we will carry his spirit and imprint as we continue to grow and redefine the financial industry."

About The Reserve

Founded in 1970, The Reserve is The World's Most Experienced Money Fund Manager(SM), serving the brokerage, banking and institutional marketplace. There is no other company in the world that has managed money market funds longer than The Reserve, the largest investment manager dedicated entirely to cash and money fund management. In addition to launching the world's first money market fund, The Reserve has developed a full suite of innovative cash management solutions, including the industry's first FDIC-insured money market sweep program, diverse money market fund offerings, unique bank cash sweep services and cutting-edge cash plus products. Today, The Reserve manages more than $120 billion for individuals, banks and institutional clients. For more information visit www.TheR.com or call 800-637-1700.

"The Reserve", its related logo, "A Tradition of Financial Innovation" and "The World's Most Experienced Money Fund Manager" are service marks or registered service marks of Reserve Management Corporation in the United States and other countries.

The Reserve
Corporate Communications
Ming Lee Hatch, 212-401-5662
mhatch@TheR.com
www.TheR.com