ICI Issues Statement on Glassman’s Decision to Leave the Securities and Exchange Commission

Washington, DC, May 15, 2006 - Investment Company Institute President Paul Schott Stevens today issued the following statement on the announcement that Cynthia Glassman will step down from the Securities and Exchange Commission when her current term expires:

"During her tenure at the SEC, Commissioner Glassman has been a consistent and steady champion for the individual investor, helping drive measures to strengthen protections and improve disclosure and investor education. We applaud her impressive record at the Commission and wish her the best as she moves on to the next phase of her career."