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Non-Tech : CSFB Direct(DIR)

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To: Henry Niman who wrote (391)9/25/2000 8:14:10 AM
From: Rob C.  Read Replies (1) of 406
 
JERSEY CITY, N.J.--(BUSINESS WIRE)--Sept. 25, 2000--

-- Self-Directed Brokerage Option Allows
Expanded Investment Choices Within 401(k) Plans --

DLJdirect Inc. (NYSE:DIR.N), the online brokerage service of
Donaldson, Lufkin & Jenrette, Inc. (NYSE:DLJ.N), and MFS Retirement
Services, today announced an agreement to offer DLJdirect brokerage
services to participants in 401(k) plans administered by MFS. Under
the agreement, DLJdirect will provide self-directed brokerage account
(SDBA) services within MFS's participant-directed, employer-sponsored
retirement plans.
Clients of MFS retirement plans who meet certain criteria may
choose the SDBA option. They will have access to a range of investment
products and services offered by DLJdirect. The complete package of
offerings includes trading in stocks, mutual funds, IPOs (for
qualified investors), real-time quotes and news, and extensive
research. Participants may access their accounts 24 hours a day, seven
days a week. DLJdirect is available across a variety of platforms,
including the Internet and wireless devices. Telephone access is
available via TradeTalk, DLJdirect's touch-tone trading system, or by
calling a DLJdirect registered Investor Service Representative.
The agreement with MFS marks the third major agreement DLJdirect
has signed in the last four months with 401(k) plan administrators
offering a full range of brokerage services to participants in
employer-sponsored retirement plans.
"MFS is very pleased to join forces with DLJdirect, one of
America's premier online brokerage firms, to provide our 401(k)
clients with self-directed brokerage accounts," said Martin E.
Beaulieu, President of MFS Retirement Services, Inc., a subsidiary of
MFS Investment Management.(R) MFS Retirement Services has more than
$18.6 billion in retirement assets and an account base of more than
725,000 participants nationally as of June 30, 2000.
"We welcome this opportunity to provide our award-winning
brokerage services to MFS plan participants," said Blake Darcy, Chief
Executive Officer of DLJdirect. "The combined resources of MFS and
DLJdirect will provide 401(k) plan participants with access to a more
diverse package of products and services and the exemplary service
that MFS clients have come to expect."

About MFS Investment Management

MFS invented the mutual fund. The firm's history dates back to
March 21, 1924, and the establishment Massachusetts Investor's Trust,
the fund that was at the beginning of an industry that brought the
power of investing to every American. MFS manages more than $150
billion in assets on behalf of five million investors worldwide as of
June 30, 2000. MFS Retirement Services, Inc. offers investors a full
array of retirement plans with an emphasis on defined contribution
plans and IRAs. The company's plans are fully supported by dedicated
client service teams, state-of-the-art record keeping and
administrative systems, and voice and Internet technology. The company
also has experienced a 55 percent growth in retirement assets during
the two-year period between January 1997 and December 1999, and a
client retention rate of 98.5 percent.

About DLJdirect

DLJdirect is one of the world's premier online brokerage firms
offering a diversified range of investment products and services to
sophisticated, self-directed investors. As of June 30, 2000, DLJdirect
had nearly one million worldwide customer accounts representing nearly
$28 billion in assets. Headquartered in Jersey City, NJ, with offices
in Parsippany, NJ, Charlotte, NC, Delray Beach, FL, Sandy City, UT,
London, Tokyo, Hong Kong, and Dubai, DLJdirect employs more than 1,500
people. DLJdirect trades on the New York Stock Exchange under the
ticker symbol "DIR" as a tracking stock of Donaldson, Lufkin &
Jenrette. For more information on DLJdirect, visit the company's Web
site at www.DLJdirect.com.

About Donaldson, Lufkin & Jenrette

Donaldson, Lufkin & Jenrette (DLJ), is a leading integrated
investment and merchant bank serving institutional, corporate,
government and individual clients. DLJ's businesses include securities
underwriting; sales and trading; investment and merchant banking;
financial advisory services; investment research; venture capital;
correspondent brokerage services; online, interactive brokerage
services; and asset management. Founded in 1959 and headquartered in
New York City, DLJ employs approximately 11,300 people worldwide and
maintains offices in 13 cities in the United States and 16 cities in
Europe, Latin America and Asia. The company has two classes of common
stock trading on the New York Stock Exchange. Shares trading under the
ticker symbol "DLJ" represent Donaldson, Lufkin & Jenrette, Inc.
Shares trading under the ticker symbol "DIR" track the performance of
DLJdirect, its online brokerage business. For more information on
Donaldson, Lufkin & Jenrette, refer to the company's World Wide Web
site at www.DLJ.com. The firm's world headquarters are located at 277
Park Avenue, New York, NY 10172.

--30--flb/ny*

CONTACT: Press Contacts:
DLJdirect Inc.
Charlotte Fox
201/308-3562
cfox@DLJdirect.com
or
MFS Investment Management
David Oliveri
617/954-4256
doliveri@MFS.com
or
G.S. Schwartz & Co. Inc.
William Armstrong
212/725-4500, ext. 304
wga@schwartz.com
or
Investor Contact:
Donaldson, Lufkin & Jenrette
Kevin Zuccala
212/892-4693
ir@DLJ.com

KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS E-COMMERCE

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