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Three money managers examine portfolio management strategies in the latest Issue of The Wall Street Transcript, available at (212/952-7433) or http://www.twst.com/info/info581.htm

TWST: Could you give us a brief overview of Retirement System Investors Inc. and your responsibilities there?

Mr. Gorodinsky: Retirement System Investors is the wholly owned investment advisory subsidiary of Retirement System Group, a New York City-based full service provider of retirement plans. Investors and its corporate predecessors have been managing equity assets for over 20 years. We currently manage equity portfolios in small cap growth, large cap blend, large cap value and equity income. Our major clients are the RSI Retirement Trust fund family and the Enterprise Funds. I manage a 30 million small cap growth portfolio that is part of the RSI Retirement Trust Emerging Growth Equity Fund.

TWST: What triggers an exit? What is your sell discipline?

Mr. Gorodinsky: It’s a combination of various factors: a company falling short of my expectations or reaching its fair value, where there is no longer upside potential, or finding a better idea out there that warrants an exit from one to another.

TWST: What are some examples of stocks that you have sold in recent months to illustrate this?

Mr. Gorodinsky: In recent months, going back to the fall around November, I thought Fossil (FOSL), which is a specialty retail company, was fairly valued, and we had a better investment opportunity with Coach (COH), which is in the high-end leather goods market. It was really a swap based on valuation and a better fundamental outlook, and it worked out perfectly. Coach has been a strong performer so far.

TWST: Do you play the consumer sector at all? Do you have other consumer stocks that you’re interested in?

Mr. Gorodinsky: Yes. Another stock in that area that I like is Urban Outfitters (Nasdaq:URBN), which operates two retail concepts: Urban and Anthropologie. It has a unique strategy in that it opens its stores next to its target demographic markets. It would open Urban locations next to large university populations. This year it’s testing out a mall strategy, so this could be an interesting story to watch, to see whether they can execute on their expansion plan. I believe Anthropologie is the kicker to the story as it targets “upscale urban” customers who can afford to pay more for home décor and apparel. Valuation is still okay; it’s selling at 26 times forward earnings with earnings growth of 30% plus.

TWST: What kind of investor is interested in this Fund?

Mr. Gorodinsky: Consistent with our corporate charge of managing assets for retirement plans, I think they are investors who have a long-term horizon and a need for exposure to an asset class that has strong long-term performance, but it comes with added volatility. Now, coming out of recession, small cap growth funds typically outperform larger ones, so everyone should have some small cap asset class exposure in their portfolios.

This special report includes:

1) Investing in Small Cap Value Stocks - Mark F. Degenhart, Senior Vice President for Oppenheimer Capital, examines portfolio management strategies in this timely and deeply informative 4,000-word interview from The Wall Street Transcript.

2) Mark Gorodinsky, a Portfolio Manager of the RSI Retirement Trust Emerging Growth Equity Fund with Retirement System Investors Inc., examines portfolio management strategies in this timely and deeply informative 2,400-word interview from The Wall Street Transcript.

3) H. Edward Shill II, Chief Investment Officer of QCI Asset Management, examines portfolio management strategies in this timely and deeply informative 2,800-word interview from The Wall Street Transcript.