Colorado direct-sold accounts moving to new Upromise/Vanguard plan

The new CollegeInvest Direct Portfolio College Savings Plan begins operations on October 26, 2004 with the completion of the asset transfer from the Scholars Choice College Savings Program (Direct-sold). The new plan is managed by Upromise and offers age-based and static portfolio options utilizing Vanguard index and money market funds. The expense ratio of the new plan is 0.75% versus 1.09% under the Citigroup-managed Scholars Choice program.

Citigroup Asset Management will continue to manage the Scholars Choice program but it becomes exclusively broker-sold.
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