In fact, it was through the research for the white paper and technicaldevelopment of the additional functionality, both set for simultaneous releaseduring the briefing, that Clearwater Analytics account managers, fielding asteady stream of requests for additional insight into the FASB guidance, calledfor this critical session. “Our system is designed to provide investors with answers to pressingquestions,” Gates explains. “Our regular new product features, white papers,educational sessions, one-on-one consultations with dedicated account managers,and more, all come together as part of our integrated, comprehensive approach tooffering investors the services they need, when it counts the most,” Gates adds.Confirmed to attend the virtual summit are scores of institutional investors whohave already written down securities pursuant to FAS 115-1 as well as dozensmore who have not written down securities yet. Both groups are wrestling withFAS 115-2 compliance moving forward. “Let`s just say, we anticipate a lively discussion,” says Eric Gwilliam,Business Development, Clearwater Analytics. “FAS 115-2 was intended to make theguidance more operational and make disclosure of OTTI in financial statementsmore transparent.

In practice, though, interpreting what that guidance means toyour portfolio can involve a steep learning curve That`s where we come in. Ourplatform allows us to combine state-of-the-art technology with world classcustomer support to provide our clients with solutions to address these emergingaccounting issues as quickly as possible.” Clearwater Analytics recommends investors develop and endorse a process thatleverages this new guidance in a way that will satisfy their auditors. The newClearwater Analytics white paper provides a practical analysis of FAS 115-2 soinvestors can establish proper processes and procedures in accordance with thenew regulations. The information provided in this white paper and explored during tomorrow`sbriefing is the results of experience with investment accounting issues andinteraction with accountants and investment service providers.

It is notintended to be relied upon substantively; rather, it is intended to inform andprovide a discussion framework that treasury practitioners, internal management,and accounting and audit staff can use to discuss the impairment process. Dial-in Access for Media for Clearwater Analytics FAS 115-2 BriefingPlease register at: for the dial-ininformation. Media Briefings Available Upon RequestFAS 115-2, part of a raft of guidance pronounced by the FASB in April as adirect result of the legislative action aimed at alleviating the economiccrisis, is likely the first salvo in an accelerated evolution of accountingstandards for the financial services. Clearwater Analytics closely monitors FASBproclamations and interprets ramifications, providing a range of educationalresources (incl. White Papers, Training, Alerts, Links to Industry Resources,and more) easily accessible at https:// Journalistsinterested in learning more about the real impact of FASB are encouraged toschedule your Media Briefing with Clearwater Analytics, please contact ChrisKeller by calling 208.489.7565 or email . Further ReadingFAS 115-1 and FAS 115-2 trace their lineage to FAS 115, issued by the FASB in1993 to address accounting for and reporting on investments in equity securitiesthat have readily determinable fair values, as well as all investments in debtsecurities. As FAS 115-2 expands the guidance of FAS 115-1, Clearwater Analytics recommendsits clients and media be familiar with FAS 115 and 115-1.

Clearwater Analyticshas two white papers that provide analysis and education: FAS 115-1 – A ThoughtFramework on Impairment and the Organizational Policy and FAS 115-1 – APractical Analysis. Both documents are available for download online by visiting https:// About Clearwater AnalyticsLaunched in 2003, Clearwater Analytics reports on nearly $400 billion in assetsfor more than 2,000 investors globally. The company`s technology represents theonly platform on the market to offer a complete solution for dynamicallymonitoring global investments on a daily basis. To schedule a free demonstration of Clearwater Analytics technology andservices, visit , call 1.800.250.7543, or . 1 FAS 115-2 requires investors with the “intent to sell” or “more likely thannot will be required to sell” to recognize the full impairment in earnings.

Clearwater AnalyticsChris Keller, Copyright Business Wire 2009. PROXY Governance Recommends Against Broadcom Request for Special Meeting toReplace Emulex BoardCOSTA MESA, Calif., June 24, 2009 (GLOBE NEWSWIRE) — Emulex Corporation(NYSE:ELX) today announced that PROXY Governance, Inc., a leading proxy advisoryfirm, recommends against Broadcom Corporation’s (Nasdaq:BRCM) request for aspecial meeting to replace Emulex’s Board of Directors. The Emulex Board ofDirectors continues to urge stockholders to use the WHITE proxy card provided byEmulex to revoke consent on all Broadcom proposals.In its recommendation against Broadcom’s proposal requesting a special meeting,the PROXY Governance report said, “This proposal to call a special meeting ispart of a larger strategy by a potential strategic acquirer to complete anacquisition of the company at a price the board has already rejected asundervalued, and which is currently significantly below the market price for thecompany’s shares. Shares have generally trended up since then, closing as high as $11.30per share – 17% above the cash offer price – on June 12, 2009, and closing mostrecently at $10.65, or a premium of 10% to the offer price, on June 22, 2009.Just as significantly, relatively few shares have traded since April 20,indicating that most shareholders – including merger arbitrageurs attracted bythe Broadcom announcement – believe the company remains a value even at 10% overthe takeout price.”Jim McCluney, Emulex President and Chief Executive Officer, said, “We arepleased that PROXY Governance recommends rejecting Broadcom’s request for aspecial meeting where Broadcom would attempt to replace the current Emulex Boardwith hand-picked Broadcom nominees who we believe would support their grosslyinadequate offer. We see no benefit for stockholders to give Broadcom, an ownerof just 100 Emulex shares, a special meeting when our annual meeting on November19 will provide a truly open forum for stockholders to express their views andvote on our entire Board.