eCollege(SM) Added to Russell 3000 Index

July 16, 2003

Russell indexes are widely used by investment managers for index funds and as benchmarks for both passive and active strategies. About $220 billion is invested in index funds based on Russell ‘ s indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company ‘ s weighting in the particular index.

Membership in Russell ‘ s 21 U.S. equity indexes is determined by objective rules, such as market capitalization rankings. Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. Of the companies in the Russell 3000, the largest 1,000 companies comprise the Russell 1000 Index, while the remaining 2,000 companies become the widely used Russell 2000 Index, of which eCollege is a member.

About the Frank Russell Company
Frank Russell Company, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages more than $76 billion in assets and advises clients worldwide representing more than US$1.6 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to

About eCollege
eCollege [Nasdaq: ECLG] is a leading eLearning technology and services provider to educational markets. The Company designs, builds and supports some of the most successful, fully online degree, certificate/diploma and professional development programs in the country. eCollege ‘ s customers include publicly-traded for-profit institutions, community colleges, public and private universities, school districts, and state departments of education. The Company was founded in 1996 and is headquartered in Denver. For more information, visit


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Kristi B. Emerson
Public Relations Manager
phone 303.873.3788
cell 303.915.9574
fax 303.873.3849