Winthrop Investment Regulations

PERAC Approval Date

Regulation Number

Investment Regulation/Supplemental Regulation

September 27, 2002

16.08

The Winthrop Retirement Board is authorized to temporarily invest the proceeds of its terminated large cap value mandate with Cutler & Company into the State Street Global Advisors Russell 1000 Value Index Fund.  The Board’s investment with SSGA is authorized to extend through January 31, 2003.

November 13, 2000

16.08

In accordance with PERAC  Investment Guideline 99-2, the Winthrop Retirement Board’s large cap equity mandate with Aeltus Investment Management is being transferred from the existing Growth Equity Commingled Fund to the Growth Equity Trust Fund.  The former fund was created as a vehicle for PERAC systems, but Winthrop is the only system remaining in the fund at this time.  Thus, operational and cost efficiencies can be achieved by investing in the latter fund.  There is no change in strategy or benchmark.