OPERATIONS

* PFPC Inc unveils IMPRESS Desktop-Generation Next. * Depository Trust & Clearing Corporation announces strategy to prepare National Securities Clearing Corporation * The Bank of New York announces being selected by The Chubb Corporation to provide global-custody services * Royal Liver Assurance Limited appoints Northern Trust global custodian to 2.5billion pounds sterling.

PFPC Inc., a full-service mutual-fund-transfer agent, unveiled IMPRESS Desktop-Generation Next, featuring enhancements to its current IMPRESS suite of products designed to help mutual-fund companies and intermediaries expand distribution and strengthen relationships with investors across multiple service channels. IMPRESS Desktop is a fund-servicing platform used by more than 100 mutual-fund complexes to service over 30 million shareholder accounts.

The Depository Trust & Clearing Corporation announced its strategy to help prepare National Securities Clearing Corporation fixed-income customers for implementation of a Real-Time Trade-Matching system for corporate and municipal bonds and Unit Investment Trusts (UITs). The implementation is scheduled for the fourth quarter of this year. At that time, NSCC-eligible corporate and municipal bonds and UITs will be migrated to the Fixed Income Clearing Corporation's (FICC) RTTM system, a real-time matching platform that uses standardized interactive messaging to maximize the volume of trades that match on trade date.

The Bank of New York announced that it has been selected by The Chubb Corporation to provide additional global-custody services. The Chubb Group of Insurance Companies provides property and casualty insurance for personal and commercial customers worldwide. The Bank of New York's Insurance Services Division provides insurance companies with integrated solutions that add value to their investment process. Services include custody, cash management, investment risk management, foreign exchange, securities lending, trustee services, and fixed-income and equity-trade execution.

Following a number of strategic changes to its investment arrangements, Royal Liver Assurance Limited has appointed Northern Trust as its first-ever global custodian to assets totaling #2.5billion. Royal Liver, advised by Watson Wyatt, has undergone a complex and thorough review of its investment arrangements during the last 12 months and, as a result, identified the requirement for a global custodian.