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For Immediate Release:

For additional information contact:
Tedd M. Alexander III
Managing Member
410.244.6200
www.credocm.com

Morgan State University Foundation Hires Credo Capital Management

Baltimore , Maryland — August 23, 2005 — Credo Capital Management announced today that Morgan State University Foundation hired the company to manage a portion of its foundation assets. Credo will manage assets for Morgan State in its U.S. Equity Mid Cap Growth strategy. Edwin R. Boyer , Senior Consultant at Asset Strategy Consultants of Sparks, Maryland and Walid Petiri , Chief Strategist at Financial Management Strategies of Baltimore, Maryland advised the University’s Investment Committee.

“We look forward to utilizing ABACUS, our proprietary forward-looking investment tool, as a means of controlling risks and discovering opportunities. Our goal is to help assure the foundation assets are a sustainable contributor to the University’s academic programs,” said founder and portfolio manager, T.M. “Tedd” Alexander III. “We seek to consistently deliver outstanding performance to our clients over time – through all economic and market climates. We are proud of the University’s selection of us as it gives us further recognition as a best-in-class mid cap growth U.S. equity manager.”

Larry E. Jennings, Jr., Chair of the Foundation’s Investment Committee added, “We were happy to see that our consultants brought Credo to our attention and we look forward to working with their world class organization.”

Founded in 2004, Credo Capital Management provides investment advisory services to institutional clients. Headquartered in Baltimore , Maryland , Credo Capital Management, LLC is registered as an Investment Advisor under the Maryland Securities Act.

For over 130 years, Morgan State University has been an important part of the higher education system in Baltimore City , the State of Maryland , and the nation. Throughout its history, Morgan has served the community with distinction while meeting the educational needs of an increasingly diverse society. Its designation as Maryland 's Public Urban University assures that Morgan will continue to play a prominent role in Maryland 's education future. The University’s President is Dr. Earl S. Richardson.

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