Intech To Be Renamed Ibbotson Associates, A Morningstar Company

SYDNEY, 15 February 2010 — Morningstar Australasia Pty Limited, an Australian subsidiary of Morningstar, Inc. (NASDAQ: MORN), today announced it is renaming Intech as Ibbotson Associates, a Morningstar company. Ibbotson Associates is a registered investment adviser and wholly-owned subsidiary of Morningstar which provides investment consulting and retirement advice services.

Anthony Serhan, who became managing director of Intech when Morningstar acquired the company in June 2009, becomes managing director of Ibbotson Associates in Australia and will continue to manage the day-to-day operations of the former Intech business. He reports to Peng Chen, president of Ibbotson Associates in the United States.

"Since Morningstar acquired Intech, we've been working closely with our colleagues at Ibbotson in the United States," Serhan said. "Our clients have also responded positively to the opportunities created by closer collaboration with Ibbotson. The two businesses share many strengths, including investment research, asset allocation, and portfolio construction. By renaming the company Ibbotson Associates, we'll be able to leverage our local knowledge as well as resources and thought leadership from the global team to provide innovative and customised solutions for our local clients.

"Ibbotson is also a recognised thought leader in retirement incomes, and we'll be engaging with the market through 2010 to help address some of the challenges facing the local industry," Serhan added.

Under Ibbotson, the company's Australian team will continue to grow its core capabilities of implemented consulting and advisory services. The Intech Investment Trusts will be renamed Ibbotson as part of a rollover of their product disclosure statements in April 2010.

About Morningstar, Inc. and Ibbotson Associates

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisers, and institutions. Morningstar provides data on more than 325,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than four million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 20 countries and minority ownership positions in companies based in two other countries.

Ibbotson Associates is a leading independent provider of asset allocation, manager selection, and portfolio construction services. The company leverages its innovative and ground-breaking academic research to create customised investment advisory solutions that help investors meet their goals. Founded by Professor Roger Ibbotson in 1977, Ibbotson Associates is a registered investment adviser and a wholly-owned subsidiary of Morningstar, Inc.

Ibbotson Associates has approximately US$61.2 billion (as at 30 September 2009) in assets under management and advisement. Ibbotson has received six Graham & Dodd awards for excellence in research and financial writing in the Financial Analysts Journal, and has two US patents for its groundbreaking asset allocation methodologies. Ibbotson was selected by a major US employer to design custom target-date funds for its plan. Ibbotson is a pioneer in bringing automated advice in managed accounts services to the US defined contribution industry, and many of the largest mutual fund and insurance companies rely on Ibbotson to provide financial planning solutions.

Formerly Intech, Ibbotson Associates in Australia delivers innovative investment strategies and portfolio solutions built on rigorous research, analysis, and independent thinking to clients including corporate superannuation funds, public sector portfolios, insurance companies, other institutions, and distributors of financial products. The firm's core values include a dedication to proprietary research and innovation, decision-making by experienced local investment staff, a focus on long-term performance and investment outcomes, and the determination and flexibility to provide customised client solutions.