Server: Netscape-FastTrack/2.0 Date: Thu, 18 Dec 1997 10:01:46 GMT Accept-ranges: bytes Last-modified: Wed, 17 Dec 1997 20:14:30 GMT Content-length: 4136 Content-type: text/html Corporate News Release









Jaffe to Lead Liberty Financial's Electronic Commerce Efforts

BOSTON, December 2, 1997 -- Liberty Financial Companies (NYSE: L) announced today the appointment of Jeremy C. Jaffe to the position of vice president of electronic commerce.

Mr. Jaffe will lead Liberty Financial's corporate strategic initiative to expand electronic commerce using the Internet and other appropriate channels. He will focus on how Liberty Financial and its diverse business units can use emerging technologies to help meet the changing needs of today's investors and the intermediaries that serve them.

"We are excited to have Jeremy join Liberty Financial," said Kenneth R. Leibler, president and CEO of Liberty Financial Companies. "Jeremy has been involved with our electronic commerce efforts from the beginning, guiding Keyport's participation in our corporate-wide Internet program. Liberty Financial has already established an early leadership position on the Internet with the introduction of its Stein Roe and Keyport Web sites, and we feel that Jeremy's wealth of strategic and electronic marketing knowledge will allow us to advance our EC initiatives and build upon our leadership position in this increasingly important channel."

Mr. Jaffe joins Liberty Financial from its annuity unit, Keyport Life Insurance Company, where he served as assistant vice president, strategic marketing. At Keyport, Mr. Jaffe was involved in the development of the Company's state-of-the-art Web site and other electronic marketing initiatives. Prior to joining Keyport, he served as director of business development and client management at the Boston-based Center for Strategy Research. Mr. Jaffe has also held positions at DRI/McGraw-Hill and Dun & Bradstreet.

Mr. Jaffe earned a Master of Science degree from M.I.T. Sloan School of Management and a Bachelor of Arts degree from the University of Michigan.

Liberty Financial Companies is an integrated asset accumulation and management organization. It manages approximately $52 billion of assets on behalf of more than 1.5 million investors worldwide through an array of fixed, variable and indexed annuities, private and institutional accounts, and 73 mutual funds. Its operating companies include Keyport Life Insurance Company, The Colonial Group, Inc., Stein Roe & Farnham Incorporated, Newport Pacific Management, Inc., Independent Financial Marketing Group, Inc. and Liberty Asset Management Company.

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