Ned Davis Research, Inc. Named Top Hybrid Strategy Firm in 2008

Ned Davis Research, Inc. (www.ndr.com), an independent, institutional financial strategy research firm, is named Top Pick for Hybrid–Based Strategy firms by Integrity ResearchFocussm.

Ned Davis Research was recognized for its top overall ranking but specifically noted were its top listing in "Analytical Strength" and its second–highest ranking in "Customer Satisfaction."

According to the survey, top picks were chosen based on a ranking methodology based on customer satisfaction, analytical resources, cost versus satisfaction, popularity, and a qualitative assessment of each firms´ research by Integrity itself. Of 37 firms ranked, NDR never received a ranking lower than a top ten in any given category.

Integrity Research Associates defines investment strategy firms as those which provide portfolio–level recommendations; asset, sector, or geographical allocation recommendations; thematic investment research; or analysis of the major factors driving securities markets. Hybrid firms are defined as those which use a variety of macroeconomics, quantitative, and technical analysis to provide a variety of different services. Nine of the thirty–seven firms (24%) in the survey were classified as "hybrid" style.

The survey, conducted in the second quarter of 2008, included 181 analysts, portfolio managers, and directors of research at U.S., European, and Asian–based hedge funds and mutual funds.

About Ned Davis Research, Inc.:

Ned Davis Research, Inc. (NDR) is an independent, institutional strategy research company with global reach. Since 1980, NDR has provided institutional investors with unbiased, "one–stop" investment research. Ned Davis Research has developed a reputation for espousing a disciplined approach to in-depth financial analysis which is supported by the firm´s sophisticated analytic tools, commitment to data integrity, and unsurpassed customer support. Ned Davis Research scours and scrubs data from over 200 different data vendors to maintain one of the largest and most consistent databases in the industry. For more information about Ned Davis Research and its products, visit www.ndr.com.

About Integrity Research Associates:

Integrity Research Associates, LLC is an information and solutions provider specializing in the investment research industry. Its institutional investor clients use Integrity´s services to find new research providers and monitor existing ones. Integrity ResearchSelect® provides confidential, customized searches tailored to investors´ requirements. Integrity covers over 1,900 research firms in the U.S., Europe, and Asia. Additional information about Integrity can be found at www.integrity–research.com.

Integrity ResearchSelect is a registered trademark of Integrity Research Associates, LLC. Integrity ResearchFocus is a service mark of Integrity Research Associates, LLC.