Columbus, Ohio�The Ohio Police & Fire Pension Fund (OP&F) announced today that they are currently soliciting proposals from qualified firms to provide investment management services for U.S. core fixed income (investment grade only) benchmarked against the Lehman Aggregate Index. OP&F will select one or more firms to manage up to $500 million worth of assets in a U.S. core fixed income portfolio beginning in the third quarter of 2001.

OP&F will accept proposals until 3:00 p.m. on Friday, March 2, 2001. Minimum qualifications for firms submitting proposals include, but are not limited to: a 5-year performance history in the representative product as of December 31, 2000; at least $2 billion in U.S. core fixed income (i.e. Lehman Aggregate) assets under management in the subject product as of December 31, 2000; and at least five tax-exempt institutional clients in the subject product as of December 31, 2000.

Interested parties can obtain a Request for Proposal (RFP) from OP&F's website (www.op-f.org) or by submitting a written request by mail to: Mr. Theodore G. Hall, Chief Investment Officer, Ohio Police & Fire Pension Fund, 140 East Town Street, Columbus, OH 43215 or by fax to 614-228-0451.

OP&F is one of five state pension funds in Ohio, with assets of $8.9 billion. Created in 1965 as a result of an act passed by the Ohio General Assembly, OP&F is a multi-employer pension fund serving over 50,000 members. External advisors manage all of OP&F's asset classes with the exception of fixed income. OP&F targets asset allocations at 46% to U.S Equity, 18% to U.S. Fixed Income, 17% to International Developed Market Equity, 8% to Real Estate, 5% to High Yield, 3% to Emerging Markets, and 3 percent to Private Equity.

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Contact: Dave Graham (614) 628-8396, dgraham@op-f.org