1. 2323 1 January 30, 2003

2. 2323 2 Who We Are – Corporate Highlights Established in 1968 Publicly traded company with a US $3 billion market cap and 40% employee ownership 1700 professionals in 25 offices in 11 countries around the world.

3. 2323 3 Who We Are – SEI Worldwide TORONTO Pension Asset Management HONG KONG Developing Relationship Network DUBLIN Offshore Funds Servicing Division SWITZERLAND Pension Asset Management TAIWAN Joint Venture Asset Management Company SOUTH AFRICA Joint Venture Pension Asset Management Company ARGENTINA Developing Pension and HNW Distribution Network CAYMAN ISLANDS Global Product Platform U.S. Parent Company MEXICO Asset Management Company KOREA Joint Venture Asset Management LONDON Pension Asset Management FRANCE Joint Venture Asset Management

4. 2323 4 Who We Are – SEI Corporate Recognition Honor Roll Selection (Number 4) on “The Wall Street Journal’s Shareholder Scoreboard” Number 45 on list of “Fortune’s 100 Best Companies to Work For” Number 3 Business Week’s List of “Best Performing Mid-Caps” Number 5 “Best Value CEO” According to Forbes Selection for S&P Midcap 400

5. 2323 5 What We Do We Create and Manage Wealth for Institutions and Private Clients Global leader in manager of manager investment solutions –Leading provider of managed investment programs for high net worth individuals in the US –One of the five fastest growing investment companies in the US Global leader in providing investment systems and services –Leading provider of investment systems in the US –Leading provider of mutual fund processing in the US

6. 2323 6 Comprehensive Business Solutions Corporations What We Do – Our Offering and Our Target Markets SEI Products and Services Financial Institutions Wealthy Private Clients

7. 2323 7 How We Are Different – To Create Value for Our Customers  Innovative  Flexible  Client-Focused  Technological  Resourceful  Hands-On  Visionary

8. 2323 8 How We Are Positioned (Currently) Degree of Value Degree of Business Change Random Activity (quick fix) Product (off-shelf, functional) Process & Support (enhancement, best practice) RandomTacticalStrategicTransformational Actions Product Process Solution Solution (leveraged, strategic, customized) Challenged Leaders Most Firms = Financial Wellness Solutions

9. 2323 9 Solution DevelopmentStrategy Formulation Analyze Competitive Environment Identify SEI Assets and Capabilities Analyze Industry Forces Determine Customer Needs Market Immersion ILLUSTRATION Create Franchise Business Options & Targeting Test Customer, Competition, SEI leverage & Business Model Best-Practice Solution Development Guidelines Iteratively testing solutions with customers will minimize investment & speed market adoption Refine Design, Pricing, Business Model Targeting projections Ideas Data Propose Define Design Test Alpha Test Market Launch

10. 2323 10 The IM Business Problem We concluded that Investment Managers do not have the tools or capabilities to cost effectively grow their business model and thereby maximize the firm value. Money managers need to align their capabilities with the market to provide scale and scope opportunities, thereby maximizing their equity Operations Customer Intimacy Investment Management Typical Resource Allocation Losing focus on core capabilities Resource investments lack value and scale

11. 2323 11 End State Franchise Model Value SEI will drive a sustainable business by combining the value elements of revenue enhancement, operational efficiency and risk management. This will make SEI a true business partner and change the game from functional outsourcing to strategic. Customer Intimacy Investment Management Operations Minimize Risk Enhance Revenue Improve Efficiency New World Resource Allocation (Focus & Dollars) Typical Resource Allocation (Focus & Dollars) Losing focus on core capabilities Resource investments lack value & scale Operations Customer Intimacy Investment Management By partnering with the SEI Franchise Solution, Investment Managers can focus on growing their business through alpha and client intimacy.

12. 2323 12 The Money Managers ‘Franchise’ of Services The Money Manager’s Consortium ‘Suite’ COO Suite CFO Suite Enterprise Suite Investment Processing Trade order Mgt. Investment Decision Client reporting Workflow automation Open middleware Commercial Banking management Profitability assessment & scorecard Billing/ Invoice tools Payroll assistance Benefits Admin M&A matching & models Open architecture & network Web, Java based MS.Net? Modular Flexible CEO Portal Knowledge Mgt. Human Resources Executive Concierge Events Planning Legal Network SEI Platform

13. 2323 13 Lessons Learned  Start Small, Scale Fast…Market Moves too Fast for Long-Term Research Projects  Focus on Customer Business Problems  Think Outside Current Assets and Processes to Develop New Solutions  Change Management is as Important as Strategy Formulation  The Old Ways of Doing Things Can’t Be Forgotten too Soon. –You’ll Lose too Many People in the Process

14. 2323 14 Bumps in the Road How do you freeze the market without overselling the solution? How do you handle sales structure and compensation? What is the right service model? How do you handle new positioning migration? –New Customer –Existing Customers How do you balance short-term capital market requirements with long- term business planning?