Correction: Liberty Corner Cash Management And The Treasurer Of The State of Ohio

Our April 6, 2005 story regarding the decision by the Treasurer of the State of Ohio to change securities lending agents regrettably contained a number of errors. Any suggestion that the securities lending agent, Liberty Corner Cash Management, was involved or implicated in the contributions-for-favors investigation is false and inaccurate. GlobalCustodian.com has learned that Liberty Corner received repeated commendations from the professional staff in the office of the Treasurer of State during the time it performed services, in part, as a result of its strong performance, and was progressively given additional responsibilities. Any suggestion that Liberty Corner did not work in the best interests of the Treasurer of State is false and inaccurate. We stand by the statement of the current Treasurer’s spokeswoman that the change of securities lending agents was for purely business reasons when the work was awarded to an in-state bank. We apologize to our readers and to Liberty Corner for the errors.