<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the fiscal year ended December 31, 1998
-----------------------------------------------------
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
----------------------- ---------------------
Commission file Number 0-10200
--------------------------------------------------------
A. Full title of the plan and the address of the plan, if different from that
of the issuer named below:
SEI Investments Capital Accumulation Plan
B. Name of issuer of the securities held pursuant to the plan and the address
of its principal executive office:
SEI Investments Company
1 Freedom Valley Drive
Oaks, Pennsylvania 19456
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
INDEX TO FINANCIAL STATEMENTS AND SCHEDULES
-------------------------------------------
<TABLE>
<CAPTION>
Page
----------------
<S> <C>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS 1
FINANCIAL STATEMENTS:
Statement of Net Assets Available for Benefits -- December 31, 1998 2
Statement of Net Assets Available for Benefits -- December 31, 1997 3
Statement of Changes in Net Assets Available for Benefits --
for the Year Ended December 31, 1998 4
NOTES TO FINANCIAL STATEMENTS 5-9
SUPPLEMENTAL SCHEDULES:
I. Item 27(a)--Schedule of Assets Held for Investment Purposes
December 31, 1998 10
II. Item 27(d)--Schedule of Reportable Transactions--for the Year Ended
December 31, 1998 11
</TABLE>
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Plan Administrator of
SEI Investments
Capital Accumulation Plan:
We have audited the accompanying statements of net assets available for benefits
of SEI Investments Capital Accumulation Plan (the "Plan") as of December 31,
1998 and 1997, and the related statement of changes in net assets available for
benefits for the year ended December 31, 1998. These financial statements and
the schedules referred to below are the responsibility of the Plan's management.
Our responsibility is to express an opinion on these financial statements and
schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 1998 and 1997, and the changes in its net assets available for
benefits for the year ended December 31, 1998 in conformity with generally
accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules listed in the
accompanying index are presented for purposes of additional analysis and are not
a required part of the basic financial statements but are supplementary
information required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. The fund information in the statements of net assets available for
benefits and the statement of changes in net assets available for benefits is
presented for purposes of additional analysis rather than to present the net
assets available for benefits and changes in net assets available for benefits
of each fund. The supplemental schedules and fund information have been
subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
ARTHUR ANDERSEN LLP
Philadelphia, Pa.,
May 14, 1999
-1-
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
----------------------------------------------
DECEMBER 31, 1998
-----------------
<TABLE>
<CAPTION>
Core Large Interna- Small Large Diversified
Stable Fixed Cap tional Cap Cap Moderate
Asset Income Value Equity Growth Growth Growth
Fund Fund Fund Fund Fund Fund Fund
----------- ----------- ------------ ----------- ------------ ------------ -----------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS $6,413,190 $3,990,661 $16,346,608 $3,755,479 $11,519,567 $22,076,065 $447,166
PARTICIPANT LOANS -- -- -- -- -- -- --
EMPLOYEE AND EMPLOYER
CONTRIBUTIONS RECEIVABLE 15,653 9,741 39,899 9,166 28,117 53,884 1,091
INTEREST RECEIVABLE 32,743 18,116 -- -- -- -- --
---------- ---------- ----------- ---------- ----------- ----------- --------
NET ASSETS AVAILABLE
FOR BENEFITS $6,461,586 $4,018,518 $16,386,507 $3,764,645 $11,547,684 $22,129,949 $448,257
========== ========== =========== ========== =========== =========== ========
SEI
Investments
Diversified Diversified Emerging Company
Global Global Diversified Markets Common
Growth Stock Conservative Equity Stock Participant
Fund Fund Fund Fund Fund Loans Total
----------- ----------- ------------ --------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS $2,598,201 $4,918,137 $531,645 $288,544 $5,802,238 $ -- $78,687,501
PARTICIPANT LOANS -- -- -- -- -- 941,915 941,915
EMPLOYEE AND EMPLOYER
CONTRIBUTIONS RECEIVABLE 6,342 12,004 1,298 704 13,937 -- 191,836
INTEREST RECEIVABLE -- -- -- -- -- -- 50,859
---------- ---------- -------- -------- ---------- ----------- -----------
NET ASSETS AVAILABLE
FOR BENEFITS $2,604,543 $4,930,141 $532,943 $289,248 $5,816,175 $941,915 $79,872,111
========== ========== ======== ======== ========== =========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
-2-
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
----------------------------------------------
DECEMBER 31, 1997
-----------------
<TABLE>
<CAPTION>
Core Large Interna- Small Large Diversified
Stable Fixed Cap tional Cap Cap Moderate
Asset Income Value Equity Growth Growth Growth
Fund Fund Fund Fund Fund Fund Fund
----------- ----------- ------------ ----------- ------------ ------------ -----------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS $5,564,378 $3,447,108 $15,840,422 $3,607,507 $12,073,979 $17,029,296 $143,238
CASH AND SHORT-
TERM FUND 606 375 1,724 393 1,314 1,854 16
PARTICIPANT LOANS -- -- -- -- -- -- --
EMPLOYEE AND EMPLOYER
CONTRIBUTIONS RECEIVABLE 13,426 8,315 38,016 8,658 28,977 40,870
INTEREST RECEIVABLE 29,998 17,597 -- -- -- -- --
---------- ---------- ----------- ---------- ----------- ----------- --------
NET ASSETS AVAILABLE
FOR BENEFITS $5,608,408 $3,473,395 $15,880,162 $3,616,558 $12,104,270 $17,072,020 $143,598
========== ========== =========== ========== =========== =========== ========
SEI
Investments
Diversified Diversified Emerging Company
Global Global Diversified Markets Common
Growth Stock Conservative Equity Stock Participant
Fund Fund Fund Fund Fund Loans Total
----------- ----------- ------------ --------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS $2,340,225 $4,276,445 $380,959 $363,228 $1,515,934 $ -- $66,582,719
CASH AND SHORT-
TERM FUND 265 465 41 40 154 -- 7,247
PARTICIPANT LOANS -- -- -- -- -- 846,067 846,067
EMPLOYEE AND EMPLOYER
CONTRIBUTIONS RECEIVABLE 5,616 10,263 914 872 3,639 -- 159,910
INTEREST RECEIVABLE -- -- -- -- -- -- 47,595
---------- ---------- -------- -------- ---------- ----------- -----------
NET ASSETS AVAILABLE
FOR BENEFITS $2,346,106 $4,287,173 $381,914 $364,140 $1,519,727 $846,067 $67,643,538
========== ========== ======== ======== ========== =========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
-3-
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
---------------------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1998
------------------------------------
<TABLE>
<CAPTION>
Core Large Interna- Small Large Diversified
Stable Fixed Cap tional Cap Cap Moderate
Asset Income Value Equity Growth Growth Growth
Fund Fund Fund Fund Fund Fund Fund
------------ ------------ ------------- ------------ ------------- ------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
EMPLOYEE
CONTRIBUTIONS $ 179,698 $ 193,726 $ 840,073 $ 327,472 $ 920,608 $ 1,044,375 $ 60,016
EMPLOYER
CONTRIBUTIONS 52,273 60,212 263,169 105,698 277,061 313,534 13,613
NET REALIZED/
UNREALIZED
GAIN (LOSS) -- 3,761 635,770 513,438 531,873 5,868,339 3,634
DIVIDEND AND
INTEREST INCOME 375,601 307,372 1,048,695 199,623 53,082 323,186 22,895
INTERFUND TRANSFERS
- NET 2,054,483 393,820 (815,671) (430,747) (1,021,912) (689,915) 207,210
DISTRIBUTIONS TO
PARTICIPANTS (1,808,877) (413,768) (1,465,691) (567,397) (1,317,298) (1,801,590) (2,709)
----------- ---------- ----------- ---------- ----------- ----------- --------
NET INCREASE/
(DECREASE) 853,178 545,123 506,345 148,087 (556,586) 5,057,929 304,659
NET ASSETS AVAILABLE
FOR BENEFITS,
JANUARY 1, 1998 5,608,408 3,473,395 15,880,162 3,616,558 12,104,270 17,072,020 143,598
----------- ---------- ----------- ---------- ----------- ----------- --------
NET ASSETS AVAILABLE
FOR BENEFITS,
DECEMBER 31, 1998 $ 6,461,586 $4,018,518 $16,386,507 $3,764,645 $11,547,684 $22,129,949 $448,257
=========== ========== =========== ========== =========== =========== ========
SEI
Investments
Diversified Diversified Emerging Company
Global Global Diversified Markets Common
Growth Stock Conservative Equity Stock Participant
Fund Fund Fund Fund Fund Loans Total
------------ ------------ ------------- ---------- ------------ ------------ -------------
<S> <C> <C> <C> <C> <C> <C> <C>
EMPLOYEE
CONTRIBUTIONS $ 363,423 $ 620,883 $ 25,404 $ 84,978 $ 317,718 $ -- $ 4,978,374
EMPLOYER
CONTRIBUTIONS 100,426 178,666 7,199 25,330 71,655 -- 1,468,836
NET REALIZED/
UNREALIZED
GAIN (LOSS) 148,213 221,500 43,182 (104,285) 3,612,835 -- 11,478,260
DIVIDEND AND
INTEREST INCOME 148,697 284,890 30,923 1,011 5,338 -- 2,801,313
INTERFUND TRANSFERS
- NET (311,212) (512,817) 46,085 (36,184) 938,728 178,132 --
DISTRIBUTIONS TO
PARTICIPANTS (191,110) (150,154) (1,764) (45,742) (649,826) (82,284) (8,498,210)
---------- ---------- -------- -------- ---------- -------- -----------
NET INCREASE/
(DECREASE) 258,437 642,968 151,029 (74,892) 4,296,448 95,848 12,228,573
NET ASSETS AVAILABLE
FOR BENEFITS,
JANUARY 1, 1998 2,346,106 4,287,173 381,914 364,140 1,519,727 846,067 67,643,538
---------- ---------- -------- -------- ---------- -------- -----------
NET ASSETS AVAILABLE
FOR BENEFITS,
DECEMBER 31, 1998 $2,604,543 $4,930,141 $532,943 $289,248 $5,816,175 $941,915 $79,872,111
========== ========== ======== ======== ========== ======== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
-4-
<PAGE>
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
DECEMBER 31, 1998
-----------------
1. PLAN DESCRIPTION:
-----------------
The following description of the SEI Investments Capital Accumulation Plan (the
"Plan"), formerly SEI Corporation Capital Accumulation Plan, provides only
general information. The Plan, a contributory defined contribution plan, was
established effective January 1983 by the Board of Directors of the Company.
Participants should refer to the Plan document for a more complete description
of the Plan's provisions. The Plan's sponsor is SEI Investments Company ("SEI"
or the "Company").
The Plan is subject to the provisions of the Employee Retirement Income Security
Act of 1974, as amended ("ERISA"). The Plan provides retirement benefits,
including provisions for early retirement and disability benefits, as well as a
tax-deferred savings feature. An employee may enroll in the Plan on the first
day of the payroll period in the month following their date of employment. A
participant may make tax-deferred contributions to the Plan up to the lesser of
15% of compensation or $10,000 for the calendar year 1998, which are deposited
into a "deferral account."
All Company contributions are discretionary and will be made out of available
profits. The Company's matching contribution may not exceed 4% of the
participant's annual compensation or $3,840, whichever is lower, and will be
credited to the participant's matching contribution account. In addition, the
Company may make a contribution to all participants which will be allocated
among eligible participants in the same proportion that each participant's
compensation bears to the aggregate compensation of all participants. These
contributions will be credited to the participant's profit-sharing account.
Participants are eligible to receive Company contributions at the point when the
participant is eligible to contribute to the Plan. The Company's matching
contributions to the Plan were $1,468,836 and $1,455,603 for 1998 and 1997,
respectively. The Company made no other discretionary contributions during 1998
and 1997.
As of December 31, 1998, contributions may be invested in the following
investment options: a Stable Asset Fund, a Core Fixed Income Fund, a Large Cap
Value Fund, an International Equity Fund, a Small Cap Growth Fund, a Large Cap
Growth Fund, a Diversified Moderate Growth Fund, a Diversified Global Growth
Fund, a Diversified Global Stock Fund, a Diversified Conservative Fund, an
Emerging Markets Equity Fund and an SEI Investments Company Common Stock Fund.
All funds in the Plan are sponsored by the Company.
-5-
<PAGE>
A description of each investment option is provided below:
Stable Asset Fund--This fund is designed to maintain the value of the
money contributed to the Plan and earn interest. The fund invests mostly
in Guaranteed Investment Contracts purchased from insurance companies and
other financial institutions which are either highly rated (AAA or AA) or
guaranteed by the U.S. Government or its agencies. This fund's contract
value approximates fair value.
Core Fixed Income Fund--This fund invests in governmental and corporate
bonds and is structured to earn income without significant price
improvement.
Large Cap Value Fund--This fund is structured to invest in equity
securities of large companies. This fund invests in the stocks of
companies whose prices appear low relative to certain fundamental
characteristics such as earnings, book value, or return on equity. The
value of the fund will rise and fall based on these companies'
performance.
International Equity Fund--This fund purchases equity securities in
companies outside of the United States. A majority of these investments
are made in European and Asian companies that have a long-term potential
for growth.
Small Cap Growth Fund--This fund invests in equity securities of small
companies. The object of this fund is to allow the investment to grow as
the companies grow.
Large Cap Growth Fund--This fund invests in equity securities of large
companies. The object of this fund is to allow the investment to grow as
the companies grow.
Diversified Moderate Growth Fund--This fund seeks to provide long-term
capital appreciation with a limited level of current income through
investments in equity and fixed-income funds, including non-U.S. Equity
funds.
Diversified Global Growth Fund--This fund invests primarily in other
equity funds. The object of this fund is to provide long-term capital
appreciation through participation in both U.S. and international equity
markets.
Diversified Global Stock Fund--This fund's object is to provide long-term
capital appreciation through participation in the global equity markets.
The fund achieves this goal primarily through investment in both U.S. and
non-U.S. equities.
Diversified Conservative Fund--This fund invests primarily in money market
and fixed income funds to provide current income with the opportunity for
capital appreciation.
-6-
<PAGE>
Emerging Markets Equity Fund--This fund seeks to provide capital
appreciation by investing primarily in a diversified portfolio of equity
securities of emerging market issuers.
SEI Investments Company Common Stock Fund--This fund seeks long-term
growth by investing in shares of the Company's Common Stock.
Participants are immediately vested in their voluntary contributions to the
Plan. Participants obtain a non-forfeitable right of ownership in all employer
contributions credited to their accounts at the time of contribution.
Amounts in participants' accounts will be distributed in the form of an annuity,
lump sum amount, or a combination thereof to participants or their beneficiaries
upon termination of employment, retirement, death, or total disability.
Employee contributions in a participant's deferral account may be withdrawn
during employment after the employee reaches age 59 1/2 or upon showing
immediate and substantial financial hardship.
Under the tax-deferral feature, after two years of participation in the Plan, a
participant is eligible for a loan amount not to exceed the lesser of $50,000 or
50% of his salary deferred account balance; the minimum loan amount is $1,000.
The loans are made at a rate equivalent to those being charged on similar
commercial loans with terms from one year to five years, except for loans for
the purchase of a primary residence, which can have terms of up to 10 years.
Participants may only borrow against their accounts if they have been making
tax-deferred contributions for at least 24 months. Participants may no longer
make post-tax contributions into the Plan, however, they may withdrawal
previously contributed post-tax amounts at any time.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
-------------------------------------------
Basis of Accounting
- -------------------
The accompanying financial statements are prepared using the accrual basis of
accounting.
Income Taxes
- ------------
The Plan is qualified pursuant to Section 401(a) of the Internal Revenue Code
(the "Code") and accordingly the trust is exempt from income taxation under the
provisions of Section 501(a) of the Code. The Plan has a favorable
determination letter from the IRS. This signifies that the Plan meets the Code
requirements for design. Management believes the Plan is designed and operating
in compliance with the Code and accordingly, there is no provision for income
taxes in the accompanying financial statements.
Valuation of Investments
- ------------------------
The Plan's investments are stated at market value in the accompanying financial
statements.
-7-
<PAGE>
Management's Use of Estimates
- -----------------------------
The preparation of financial statements in conformity with generally accepted
accounting principles requires the Plan's management to make estimates and
assumptions that affect the reported amounts of the net assets available for
benefits and disclosures of contingent assets and liabilities at the date of the
financial statements and the reported amounts of changes in net assets available
for benefits during the reporting period. Actual results could differ from those
estimates.
3. INVESTMENTS:
------------
In December 1997, the Company filed a registration statement on Form S-8 with
the Securities and Exchange Commission to register 1,000,000 shares of the
Company's Common stock to be offered or sold as an investment option of the
Plan. Additionally, during 1997, the Plan opened the Emerging Markets Equity
Fund to participant investment.
The fair market values of individual assets that represent 5% or more of the
Plan's net assets available for benefits as of December 31, 1998 and 1997 are as
follows:
1998:
-----
Stable Asset Fund $ 6,413,190
Core Fixed Income Fund 3,990,661
Large Cap Value Fund 16,346,608
International Equity Fund 3,755,479
Small Cap Growth Fund 11,519,567
Large Cap Growth Fund 22,076,065
Diversified Global Stock Fund 4,918,137
SEI Investments Company Common Stock Fund 5,802,238
1997:
-----
Stable Asset Fund $ 5,564,378
Core Fixed Income Fund 3,447,108
Large Cap Value Fund 15,840,422
International Equity Fund 3,607,507
Small Cap Growth Fund 12,073,979
Large Cap Growth Fund 17,029,296
Diversified Global Stock Fund 4,276,445
4. PLAN EXPENSES:
--------------
All normal administrative costs of the Plan are paid by the Company.
-8-
<PAGE>
5. PLAN TERMINATION:
-----------------
Although it has no expressed intention to do so, the Company has the right under
the Plan to discontinue its contributions at any time and to terminate the Plan
subject to the provisions of ERISA.
In the event of whole or partial termination of the Plan, or complete
discontinuance of employer contributions, each participant shall receive a total
distribution of their account.
6. DISTRIBUTIONS TO PARTICIPANTS:
------------------------------
Distributions to terminated participants are generally made in the year
following termination. Distributions payable to participants at December 31,
1998 and 1997 amounted to $257,586 and $373,661, respectively.
7. RECONCILIATION TO FORM 5500:
----------------------------
Distributions payable to participants are recorded as a liability in the Plan's
Form 5500 and not recorded as a liability in the accompanying statements of net
assets available for benefits in accordance with generally accepted accounting
principles.
The following table reconciles net assets available for benefits per the
financial statements to the Form 5500 as filed by the Company.
<TABLE>
<CAPTION>
Net Assets Available
for Benefits
1998 1998 December 31
Accrued Benefits -----------------------------------
Distributions Paid 1998 1997
---------------- ---------------- ----------------- ----------------
<S> <C> <C> <C> <C>
Per financial statements $ -- $8,498,210 $79,872,111 $67,643,538
Accrued distributions 257,586 257,586 (257,586) (373,661)
Reversal of 1997 accrual for
distributions -- (373,661) -- --
-------- ---------- ----------- -----------
Per Form 5500 $257,586 $8,382,135 $79,614,525 $67,269,877
======== ========== =========== ===========
</TABLE>
-9-
<PAGE>
SCHEDULE I
EIN #23-1707341
PIN #002
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
ITEM 27(a)--SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
-----------------------------------------------------------
DECEMBER 31, 1998
-----------------
<TABLE>
<CAPTION>
Number of Current
Shares Description Cost Value
- --------------- --------------------------------------------------- ----------------- ----------------
<C> <S> <C> <C>
6,413,190 SEI* Stable Asset Fund $ 6,413,190 $ 6,413,190
377,189 SEI* Institutional Managed 3,956,825 3,990,661
Trust--Core Fixed Income Fund
858,090 SEI* Institutional Managed 13,390,085 16,346,608
Trust--Large Cap Value Fund
356,646 SEI* Institutional International 3,642,078 3,755,479
Trust--International Equity Fund
659,014 SEI* Institutional Managed 10,880,414 11,519,567
Trust--Small Cap Growth Fund
822,813 SEI* Institutional Managed 14,372,506 22,076,065
Trust--Large Cap Growth Fund
36,804 SEI* Asset Allocation Trust--Diversified Moderate 443,250 447,166
Growth Fund
197,732 SEI* Asset Allocation Trust--Diversified Global 2,363,042 2,598,201
Growth Fund
388,786 SEI* Asset Allocation Trust--Diversified Global 4,266,832 4,918,137
Stock Fund
45,713 SEI* Asset Allocation Trust--Diversified 478,703 531,645
Conservative Fund
40,928 SEI* Institutional International Trust--Emerging 321,518 288,544
Markets Equity Fund
57,261 SEI* Investments Company Common Stock Fund 3,521,668 5,802,238
N/A Participant Loans (Interest rates range
from 7.9% - 11.5%) 941,915 941,915
----------- -----------
Total $64,992,026 $79,629,416
=========== ===========
</TABLE>
* Represents a party-in-interest.
-10-
<PAGE>
SCHEDULE II
EIN #23-1707341
PIN #002
SEI INVESTMENTS CAPITAL ACCUMULATION PLAN
-----------------------------------------
ITEM 27(d)--SCHEDULE OF REPORTABLE TRANSACTIONS
-----------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1998
------------------------------------
<TABLE>
<CAPTION>
Number Number Gain
of of Purchase Sale Cost (Loss)
Description of Assets or Security Purchases Sales Price Proceeds Basis on Sale
- ------------------------------------- ------------- ---------- --------------- ------------- ------------- --------------
Series
- ------
<S> <C> <C> <C> <C> <C> <C>
SEI* Stable Asset Fund 121 106 $11,451,123 $9,263,575 $9,263,575 $ --
SEI* Institutional Managed
Trust--Large Cap Value Fund 89 112 2,794,781 1,931,587 1,884,871 46,716
SEI* Institutional Managed
Trust--Small Cap Growth Fund 81 140 1,673,056 2,061,349 2,152,608 (91,259)
SEI* Institutional Managed
Trust--Large Cap Growth Fund 122 127 3,313,455 3,058,544 2,711,967 346,577
SEI* Institutional International
Trust--International Equity Fund 77 113 7,088,774 7,096,173 6,703,167 393,006
</TABLE>
The purchase prices and selling prices of the above transactions represent the
current value of the assets on the transaction date.
* Represents a party-in-interest.
-11-
