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About Broadridge

Press Release

Broadridge Financial Solutions, Inc. and NewRiver, Inc. sign Agreement to Deliver Summary Prospectus Fulfillment Solution to Brokerage Industry -- Exclusive Deal Fortifies Broadridge’s Position as the Largest Provider of First-Dollar Prospectus Fulfi

LAKE SUCCESS, NY AND ANDOVER, MAMarch 16, 2009 — The Investor Communication Solutions division of Broadridge Financial Solutions, Inc. (NYSE:BR), a leading global provider of technology-based outsourcing solutions to the financial services industry, and NewRiver, Inc. – creators of the leading central repository of mutual fund documents and data for financial services firms – today announced an agreement, whereby Broadridge will exclusively offer NewRiver’s Prospectus Express and Virtual Document Warehouse products for pre-sales and first-dollar deliveries in the brokerage market.  This agreement will allow Broadridge to deliver a summary prospectus solution to the brokerage industry that helps its clients meet the requirements of the SEC’s recently approved Summary Prospectus rule. 

Prospectus Express is the industry's only comprehensive Web-based data warehouse, and Virtual Document Warehouse is the industry’s only comprehensive, up-to-date database of print-ready, PDF format prospectus and supplement documents.  Both products are sourced daily from EDGAR - the SEC’s securities filing database.  Prospectus Express is currently used by nearly 100 brokerage firms servicing more than 50 million investors.  With Prospectus Express, Broadridge can now offer a solution that not only makes the summary prospectus available online, but also links directly to the statutory prospectus in support of the SEC’s requirement for layered disclosure. 

Virtual Document Warehouse (VDW), the companion product to Prospectus Express, provides a comprehensive library of print-ready summary prospectuses (via PDF) with links to the corresponding statutory prospectus. Using VDW, Broadridge will be able to fulfill first-dollar delivery requests using print-on-demand rather than traditional pick-and-pack processes, thereby creating efficiencies for investment companies and brokers.

“The SEC’s Summary Prospectus Rule promotes more robust online disclosure and may better serve the needs of investors, as well as investment companies and brokers,” said Lyell Dampeer, President, Investor Communication Solutions US, Broadridge.  “E-delivery provides another obvious option for investors to receive disclosure documents in a timely manner and in a form that may be more appropriate for their needs.  We are excited about strengthening our partnership with NewRiver in order to address these critical industry developments and, more importantly, to better meet the needs of our entire client base.”

Broadridge and NewRiver teamed for e-delivery of confirming and first-dollar prospectuses five years ago, and during 2008, worked together to deliver seven million first-dollar prospectuses electronically to the brokerage industry.  This new five year exclusive agreement accelerates Broadridge’s move to print-on-demand services for first-dollar deliveries on behalf of broker-dealers. Using NewRiver technology will also allow Broadridge to increase its service options to its clients and their customers through greater digital print-on-demand and e-delivery models. 

“This agreement is a logical evolution of our ongoing relationship with Broadridge and our success in providing investors with a comprehensive, up-to-date database of disclosure documents to assist in electronic delivery of regulatory documents,” said Russ Planitzer, CEO and Chairman of NewRiver, Inc. “Because of the SEC’s Summary Prospectus Rule, firms can better meet the needs of their customers by delivering prospectuses in the form and length they desire.  For the industry, that means even greater cost savings through e-delivery growth and by shifting to a digital, print-on-demand model.” 

About NewRiver, Inc.
NewRiver develops innovative technology solutions that help financial leaders simplify investor disclosure - providing transparency and cost savings to the delivery of fund data and investor communications.  Since 1995, the company has helped some of the world's leading financial organizations move from paper to electronic disclosure via an easy to use, cost-effective, managed service offering.  NewRiver pioneered the first electronic prospectus, and is the only company to guarantee its data to be "compliance grade" which allows customers to reduce risk, lower compliance costs and increase revenues.  Through a patent-pending, automated process NewRiver efficiently monitors 6 million data points from over 24,600 fund CUSIPs.  Further, the company's unique "paperless" approach improves the investor experience while offering a real alternative to the environmental impact of paper-only delivery.  Relied on daily by over 100 leading financial services firms, and millions of investors, NewRiver is a trusted and growing solution provider facilitating the transition from paper-based mutual fund information, to electronic. To learn more, please visit our website or call 978-247-7200.

Prospectus Express® is the industry's only Web-based SEC-compliant data warehouse providing investor access to an online library of compliance documents (prospectuses, supplements, semi-annual and annual reports, and statements of additional information) for every open-end mutual fund, exchange-traded fund, unit investment trust, variable annuity, and variable life product sold in the United States. A comprehensive investor-communications solution, Prospectus Express enables brokerage firms, individual variable annuity providers, and retirement plan providers to deliver Web access to these documents at every phase of the investor life cycle.

NewRiver Virtual Document Warehouse is the industry’s only database of print-ready, PDF format prospectus and supplement documents updated daily and sourced directly from EDGAR - the SEC’s securities database.  With NewRiver Virtual Document Warehouse, mutual fund broker/dealers can meet their printed prospectus compliance delivery requirements by providing the most up-to-date prospectuses and supplements to support both their pre-sale and post-sale activities.  Similarly, correspondent clearing firms will be able to meet the confirming prospectus compliance delivery requirements of their correspondent broker/dealer clients, and retirement plan providers can deliver printed prospectuses based on transaction activity to participants of retirement plans that elect to adopt 404(c) “safe harbor” provisions.

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