HGK Asset Management Announces Record $2.65 Billion Partial Settlement In WorldCom Securities Fraud Class Action Lawsuit

Jersey City, NJ, May 10, 2004 - HGK Asset Management of Jersey City, New Jersey announced today that a partial settlement has been reached in the WorldCom (OTC:WCOEQ.PK) securities fraud class action lawsuit pending in federal court in New York. Under the deal, the Citigroup defendants, which consist of Citigroup, Inc., Citigroup Global Markets, Inc., formerly known as Salomon Smith Barney, Inc., Citigroup Global Markets Limited, formerly known as Salomon Brothers International Limited, and Jack B.Grubman, will pay a record $2.65 billion to resolve all claims being asserted against them. Of that amount, $1,457,500,000 has been allocated to purchasers of WorldCom bonds issued in May 2000 and May 2001. The settlement is subject to court approval.

"This is great news for WorldCom former shareholders and bondholders" said Jeffrey T. Harris President of HGK. "As an investment manager whose clients were damaged by defendants wrongful conduct, we are happy that the case is one step closer to a final resolution." Harris pointed out that the case is still being prosecuted against the other members of the underwriting syndicates as well as WorldCom's former officers and directors and their auditors, Arthur Andersen.

The class action lawsuit was brought on behalf of all persons who purchased or otherwise acquired publicly traded securities of WorldCom during the period April 29, 1999 through June 25, 2002, inclusive. HGK is serving in the case as an additional named plaintiff and certified class representative. HGK is a professional investment manager whose clients consist primarily of multi-employer benefit funds. HGK is being represented in the litigation by New York City-based Schoengold Sporn Laitman & Lometti, P.C..

Recent Settlements

· In re Nicor, Inc. Securities Litigation, 02-CV-5168 (N.D. Ill.)
July 9, 2004 - $39 million cash settlement
(Sole Lead Counsel)

· In re Westar Energy, Inc. Securities Litigation, 03-CV-4003 (D. Kansas)
September 1, 2005 - $30 million cash settlement
(Sole Lead Counsel)

· In re PNC Finacial Services Group, Inc. Securities Litigation, 02-CV-271(W.D. Penn.)
April 12, 2007 - $46.675 million recovery
(Co-lead Counsel)

· In re SPX Corp. Securities Litigation, 3:04-CV-99 (W.D.N.C.)
April 13, 2007 - $10 million cash settlement
(Sole Lead Counsel)

Client Resources

· Map Management, LLC
MAP Management, LLC is a Registered Investment Advisor providing services to Individuals, multi-employer Taft-Hartley plans, Corporate Pension plans, Estates, and Foundations. By offering fixed fee arrangements, MAP provides unbiased and independent opinions, as well as helpful recommendations and education. Through a very personal process, MAP will develop a portfolio and a plan for your investments that is individualized to
your needs.

· HGK Asset Management
Since 1983, HGK Asset Management has been making the right decisions for investors in conservative fixed income and value equity portfolios. With about $3 billion currently under its management and more than 80 client relationships, HGK has expanded its original business that specialized in Taft-Hartley benefit and pension funds to include corporate pension, institutional and individual investment accounts.