CHICAGO, IL and NEW YORK, NY, January 19, 2005 - Duff & Phelps, LLC, an independent US investment banking and financial advisory firm serving public and private companies for over 70 years, is pleased to announce the acquisition of Valuemetrics, a premier US financial advisory firm specializing in valuation services, litigation support and ESOP advisory services. Financial terms were not disclosed.

As a result of the Valuemetrics acquisition, Duff & Phelps gains the talent and expertise of a seasoned group of professionals, led by President Richard C. May, who founded the company in 1981. With its 23-year track record of providing strategic advice to clients, and offices in Chicago, New York and Atlanta, Valuemetrics enhances Duff & Phelps' service offerings and expands its geographic coverage to the US Southeast.

The acquisition complements Duff & Phelps' team of over 100 employees in Chicago, New York, Los Angeles, San Francisco and Seattle. The transaction is the first for Duff & Phelps since March 2004, when a management team and an investor group led by private equity firm Lovell Minnick Partners LLC acquired the company from Webster Financial Corporation (NYSE: WBS).

“The Valuemetrics acquisition is a significant step forward as we augment our advisory services and our geographic reach”, said Noah Gottdiener, Chief Executive Officer of Duff & Phelps.

“I've known Valuemetrics founder Dick May for many years as a leading expert on valuation services and ESOPs, and we're excited to have Dick and his highly regarded Valuemetrics team join Duff & Phelps,” said Chester (Chet) A. Gougis, President of Duff & Phelps.

“This is a wonderful opportunity for Valuemetrics professionals to work together with our new partners to better serve our clients' needs on the growing Duff & Phelps platform,” said Richard C. May, Valuemetrics' founder. Following the transaction, May will become a member of the management committee of Duff & Phelps and continue his practice as one of the nation's leading investment bankers focusing on ESOP and management buyout transactions.

“We congratulate the management team at Duff & Phelps for identifying and executing the promising acquisition of Valuemetrics. Lovell Minnick Partners continues to enthusiastically support management's expansion strategy,” said Jeffrey D. Lovell, Chairman of the Board of Duff & Phelps and managing director of Lovell Minnick Partners.

About Duff & Phelps
Duff & Phelps is a national investment banking and financial advisory firm focused on providing merger and acquisition, private placement, valuation, financial opinion and restructuring services. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality to a broad range of public and private companies. For more information about Duff & Phelps please visit www.duffllc.com

About Valuemetrics
Founded in 1981, Valuemetrics is one of the nation's premier independent advisory firms serving middle-market companies with valuation services, litigation support, mergers & acquisitions advice, and debt and equity placement. For more information about Valuemetrics please visit www.valuemetrics.com

About Lovell Minnick Partners
Lovell Minnick Partners is a Los Angeles, California-based independent investment firm providing buyout and growth capital to developing companies in the global financial services industry. Lovell Minnick Partners manages partnerships totaling more than $150 million for qualified private and institutional investors. Portfolio companies of Lovell Minnick manage nearly $30 billion of assets for institutions, high-net-worth individuals and mutual fund clients. For more information about Lovell Minnick Partners please visit www.LovellMinnick.com