Wednesday, January 23, 2008

Merrill Corporation Files XBRL-Based Financial Statements and Financial Highlights for FAF Advisors
Merrill Provides Interactive Data Filing Services for Mutual Fund Company

St. Paul, Minn. – Merrill Corporation, a leading provider of technology-enabled services for the financial, real estate, legal and other corporate markets, today announced the filing of FAF Advisors’ financial statements and financial highlights for their closed-end funds in eXtensible Business Reporting Language (XBRL). This marks FAF Advisors’ official participation in the Securities and Exchange Commission’s (SEC’s) XBRL Voluntary Program.

Since 2006 Merrill has provided public corporations with a full service XBRL solution in line with the SEC’s XBRL Voluntary Program and offers the same comprehensive solution to investment management companies filing via the Electronic Data Gathering, Analysis and Retrieval System (EDGAR).

“We take pride in being at the forefront of technology to support our customers as their business needs evolve,” said Roy Gross, president of Marketing and Communications Solutions at Merrill. “There is no doubt that XBRL will become the standard for financial reporting and we believe its use will be required by the SEC in the near future. XBRL offers investors powerful tools to analyze and compare fund performance and other information.”

XBRL is a new reporting language that makes it easier to compare investment products. It works by mapping and tagging each piece of information. The tags then make it possible for automated processing of business information and for comparison by investors and analysts using software such as the SEC’s Interactive Financial Report Viewer, available at www.sec.gov/spotlight/xbrl/xbrlwebapp.htm.

Merrill helps clients with all aspects of XBRL – from gaining an understanding of how it works, to mapping data and integrating this new requirement into their regular workflow.

Merrill manages all the preparation work and filing services, so clients can take advantage of voluntary participation and also be prepared for a mandate – without making a substantial investment in resources.

As an active participant in XBRL International, Merrill collaborates as part of the consortium of 450 companies and agencies worldwide to build XBRL as well as promote and support its adoption. Merrill is also active with the Consortium of Filing Agents and Software Developers, which meets regularly with the SEC to discuss new XBRL and EDGAR requirements.

“Merrill’s outstanding track record in XBRL filings and their 100 percent error-free filing rate were critical in our selection decision,” said Charles Gariboldi, mutual fund treasurer of First American Funds. “While many mutual fund firms opt to submit risk/return filings using XBRL, we felt confident that Merrill’s work with corporations participating in the SEC’s pilot of annual, quarterly and other reports provided them with the necessary expertise to handle our financial statements and highlights.”

For more information about Merrill’s XBRL-related services, visit the XBRL Spotlight page at http://www.merrillcorp.com/XBRL.

About Merrill Corporation

Founded in 1968 and headquartered in St. Paul, Minn., Merrill Corporation (www.merrillcorp.com) is a leading provider of outsourcing solutions for complex business communication and information management. Merrill’s services include document and data management, litigation support, branded communication programs, fulfillment, imaging and printing. Merrill’s target markets include the financial services, insurance, real estate, legal industries. With more than 6,300 people in over 70 domestic and 15 international locations, Merrill empowers the communications of the world’s leading companies.

About FAF Advisors

FAF Advisors, Inc., is a registered investment advisor based in Minneapolis and a subsidiary of U.S. Bank National Association (USBNA). FAF Advisors serves as the investment advisor to First American Funds and provides investment management services to individuals and institutions, including corporations, foundations, pension funds, public funds, and retirement plans, and had combined assets under management or administration of more than $105 billion as of Sept. 30, 2007. USBNA is a subsidiary of U.S. Bancorp. Visit us on the web at usbank.com. First American Funds are distributed by Quasar Distributors, LLC, an affiliate of the investment advisor.

Investment products, including shares of closed-end funds, are not obligations of, or guaranteed by, any bank, including U.S. Bank National Association or any U.S. Bancorp affiliate, nor are they insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency. An investment in such products involves investment risk, including possible loss of principal.

The information contained in our news releases speaks only as of the date of such releases and we are under no obligation to update or remove such information other than as required by applicable law or regulation.