The GUTMANN CENTER FOR PORTFOLIO MANAGEMENT at the University of Vienna www.gutmann-center.at

is pleased to announce the following

PUBLIC LECTURE: (We apologize for any cross-postings)

Date: March, 25th (Thursday), 4.30 p.m. Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien www.gutmann.at

Title: "Asset Allocation Optimization: Theory and Practice"

Speaker: Prof. Dr. William F. SHARPE STANCO 25 Professor of Finance, Emeritus at Stanford University's Graduate School of Business Nobel Prize in Economic Sciences, 1990 http://gobi.stanford.edu/facultybios/bio.asp?ID=151

Prof. Sharpe was one of the originators of the Capital Asset Pricing Model, developed the Sharpe Ratio for investment performance analysis, the binomial method for the valuation of options, the gradient method for asset allocation optimization, and returns-based style analysis for evaluating the style and performance of investment funds. Dr. Sharpe has published articles in a number of professional journals, including Management Science, The Journal of Business, The Journal of Finance, The Journal of Financial Economics, The Journal of Financial and Quantitative Analysis, The Journal of Portfolio Management, and The Financial Analysts' Journal. He has also written six books, including Portfolio Theory and Capital Markets (McGraw-Hill, 1970 and 2000), Asset Allocation Tools (Scientific Press, 1987), Fundamentals of Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 2000) and Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 1999). Prof. Sharpe is past President of the American Finance Association. In 1990 he received the Nobel Prize in Economic Sciences. He received his Ph.D., M.A. and B.A. in Economics from the University of California at Los Angeles. He is also the recipient of a Doctor of Humane Letters, Honoris Causa from DePaul University, a Doctor Honoris Causa from the University of Alicante (Spain), and the UCLA Medal, UCLA's highest honor. Dr. Sharpe is a trustee of the AXA Rosenberg mutual funds and a member of the board of Financial Engines, Incorporated.

Please register - Contact:

Brigitte Juchelka, Bank Gutmann AG mail: brigitte.juchelka@gutmann.at Tel.: +43-1-50220-357 Fax: +43-1-50220-249

Further information:

Dorothea Grimm Gutmann Center for Portfolio Management mail: dorothea.grimm@univie.ac.at Phone: +43-1-4277-38186 web: http://www.gutmann-center.at