News and Notes : Institutional Billing : Asset Management Billing : Redi2.com

Principal Global Investors selects Redi2 Revenue Manager

May 03, 2006

OAKLAND, Calif. - May 3, 2006 - Redi2 Technologies, a solely dedicated provider of fee billing solutions to the global investment management industry, announced today that the Principal Financial Group has selected Redi2 Revenue Manager to automate the billing and revenue management operations of Principal Global Investors.

Redi2 Revenue Manager is a comprehensive billing and revenue accounting system used to calculate a broad range of complex fee types such as performance based fees, and securely manage and audit-trail the invoice generation and approval process. The system also has functionality to create management reports on billing and accrual data, manage the accrual generation, approval, and reconciliation process, and then post summarized and detailed fee records to General Ledger and Accounts Receivable systems.

"We are excited about this new relationship with The Principal," said Seth Johnson, CEO of Redi2 Technologies. "Redi2's purpose is to continually improve the finance and accounting operations of the global investment management industry and we derive great satisfaction in providing our clients with superior solutions and services that allow them to achieve greater operational efficiency and scalability."

About Principal Global Investors

Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group, manages over $158.9 billion in assets primarily for retirement plans and other institutional clients. Their investment capabilities encompass an extensive range of equity, fixed income and real estate investments as well as specialized overlay and advisory services.

About the Principal Financial Group

The Principal Financial Group (The Principal) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $195.2 billion in assets under management and serves some 15.6 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

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