Robinson, Thors, Patsky Purchase Winslow Management Company

BOSTON, Mass., Sept. 12, 2005 – Winslow Management Company, a leading small-cap growth firm, announced today that three key employees have purchased ownership of the firm from Adams Harkness, a Boston-based investment-banking firm.

The purchase price was not disclosed. The new owners are Jackson W. Robinson, President and founder, and Portfolio Managers Elizabeth Cluett Thors and Matthew W. Patsky. Robinson and Patsky also co-manage the Winslow Green Growth Fund (WGGFX), a green, small-cap growth fund.

WGGFX finished the second quarter with a return of 9.33%, significantly exceeding the returns of its benchmarks, the Russell 2000 Growth Index, which finished the quarter with a 3.48% return, and the Russell 2500 Index, which finished the quarter with a gain of 4.52%.

For a longer-term perspective, the fund’s one-, three-, five- and 10-year average annual returns for the period ended June 30, 2005 were 12.60%, 19.51%, -0.04% and 19.36%, respectively. In comparison, the one-, three-, five- and 10-year average annual returns for the Russell 2000 Growth Index were 4.29%, 11.37%, -4.51% and 5.16%, respectively; returns for the Russell 2500 Index were 12.73%, 14.76%, 7.42% and 12.12%. (Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. For the most recent month-end performance, please visit the Fund’s website at Shares redeemed or exchanged within 90 days of purchase will be charged a 2.00% redemption fee subject to limited exceptions.*)

While Winslow Management will continue to share space at the 99 High Street, Boston headquarters of Adams Harkness, Inc., Robinson believes that “being independent will allow us to focus on growing our business.”

Winslow Management, which Robinson founded in 1984, is believed to be the first green-investing firm. Winslow merged with Adams Harkness, Inc. in 1999 and today, the company has approximately $245 million in assets under management.

Since its founding, Winslow Management has used not only negative screens to avoid investing in companies that may damage the environment, but positive screens to identify and invest in companies that have a positive impact on the environment. Winslow believes that by taking advantage of environmental opportunities or by avoiding environmental liabilities, companies can gain a competitive advantage over their peers through cost reductions, quality improvements, increased profitability, and access to new and growing markets.

In addition to the Winslow Green Growth Fund, Winslow Management offers individual portfolio management for high-net-worth individuals and institutions through separate accounts and a hedge fund, opened to qualified investors only.

Robinson first developed his green-investing ideas while serving as an officer and director of Garden Way, Inc. and as President of the National Gardening Association. Garden Way’s use of recycling, closed-loop processes, energy conservation and alternative energy kept operating costs to a minimum, providing significant savings. Based on his experience, he became convinced that environmental responsibility enhances corporate profitability. He further developed his ideas about environmentally effective investing while managing a small, non-profit 401(k) plan on a pro bono basis for six years.

Currently, Robinson is also Chairman of the Board of Spartech Corporation (NYSE:SEH); a director of Jupiter International Green Investment Trust PLC and Jupiter European Opportunities Trust PLC and a Trustee of Suffield Academy and Chairman of their Investment Committee. Mr. Robinson also serves on the Advisory Board of the American Council for Renewable Energy.

Thors, who joined Winslow in 2000, previously was with the Investment Banking Division of Adams Harkness, where she was involved with initial public offerings, secondary offerings, private placements, mergers and acquisitions, and valuations for companies in the software, healthy living, alternative and renewable energy, and semiconductor capital equipment industries. She also led the firm’s investment banking effort in natural and organic foods. Before joining Adams Harkness in 1996, she worked in equity research at Putnam Investments. She earned a bachelor’s degree in American literature from Yale University and an MBA from Harvard University’s Graduate School of Business Administration.

Before joining Winslow in 2002, Patsky served as Director of Equity Research for Boston-based Adams Harkness. Directing the firm's Research Department, he supervised 21 research analysts focused on emerging-growth technology, healthcare and consumer companies. Patsky is widely considered to be an expert in the natural-products industry. He is recognized as the individual responsible for the development of the “Healthy Living” investment theme and selecting the group of companies now recognized as an important investment sector. As an analyst with Adams Harkness, he followed underlying cultural trends, particularly how health-conscious and aging consumers are increasingly turning to natural products. Prior to joining Adams Harkness in 1995, he was a Vice President at Robertson Stephens & Co. Before that, he was a Vice President at Lehman Brothers. He earned a bachelor’s degree from Rensselaer Polytechnic Institute.

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Winslow Management Company ( seeks to invest in high growth and environmentally effective companies. From its inception in 1984, Winslow has been investing the assets of high-net-worth individuals, non-profit institutions, and pension funds in growth companies that are environmentally sensitive. Its products and services include: The Winslow Green Growth Fund, a small-cap growth fund open to individual and institutional investors; individual portfolio management for high-net-worth individuals and institutions, and a hedge fund that is open to qualified clients. Based in Boston, Winslow manages assets totaling approximately $245 million as of August 31, 2005.

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