AMG to Make Investment in Harding Loevner

BOSTON--(Business Wire)--
Affiliated Managers Group, Inc. (NYSE: AMG), a diversified asset
management company, and Harding Loevner LLC ("Harding Loevner"), have
reached a definitive agreement for AMG to acquire a majority equity
interest in Harding Loevner. After the closing of the transaction, the
management partners of Harding Loevner will continue to hold a
substantial portion of the equity of the business and direct its
day-to-day operations.

Founded in 1989, Harding Loevner is a highly regarded investment
manager specializing in global growth equities, with approximately $6
billion in assets under management across six global, international
and emerging markets equity strategies. The firm takes a team-oriented
approach to making investment decisions, and each of its strategies is
underpinned by a consistent investment philosophy focused on a global
perspective, fundamental research, and investing in equities of high
quality growth companies, and has generated outstanding long-term
returns for the firm's clients.

Harding Loevner's largest products, the Emerging Markets,
International Equity and Global Equity mutual funds, are widely
recognized for their long-term outperformance, and have earned Lipper
Leader ratings of five for consistent return. The International Equity
fund also ranks in the top one percent of its Morningstar category for
the year-to-date period, while the Emerging Markets fund is rated four
stars by Morningstar.

Harding Loevner serves a diverse group of clients comprised of
institutional and retail mutual fund and separate account investors
including individuals and private trusts, foundations and endowments,
retirement plans, financial institutions and overseas clients. Harding
Loevner is broadly represented in the intermediary-advised
marketplace, and has strong relationships with institutional
consultants, independent registered investment advisors and wealth
management programs.

Based in New Jersey, Harding Loevner is led by global equities
specialists David Loevner and Simon Hallett, and has a deep team of 22
experienced investment professionals. All of the members of the
management team will remain with the firm upon completion of the
transaction, and seven of the firm's senior managers have entered into
long-term employment agreements with the firm and AMG.

"Harding Loevner is an outstanding global equity manager, with a
highly experienced management team and an excellent reputation for
providing superior results for its clients through its consistent
adherence to its high quality growth investment strategy," said Sean
M. Healey, AMG's President and Chief Executive Officer. "The firm's
strong investment performance and consistent positive net client cash
flows have generated compound annual growth in assets under management
of 34% since 2002. Our partnership with Harding Loevner strengthens
and expands our exposure to international and emerging markets equity
products, and we are confident that the firm will continue to generate
strong growth in these areas in the years ahead."

"The team at Harding Loevner has built an outstanding business,
and we are impressed with the management team's longstanding
commitment to ensuring that equity incentives are aligned among key
employees to promote the continued growth of the firm," said Jay
Horgen, AMG's Executive Vice President in charge of New Investments.
"We are very pleased to welcome Harding Loevner to our Affiliate group
and look forward to working with our new partners."

"Of paramount importance to us when considering potential partners
was to ensure that our firm would retain, through successive
generations of colleagues, its essential character including its focus
on the interests of our clients. AMG's philosophy and proven track
record in this regard gave us that assurance," said David Loevner,
Chief Executive Officer of Harding Loevner. "We look forward to
working with AMG across a range of initiatives, especially in offering
our services to a wider range of clients including institutions
overseas."

Upon completion of the transaction, AMG will hold approximately a
60% interest in Harding Loevner. The remaining approximately 40% of
the business will be held by a broad group of senior professionals.
The terms of the transaction, which is expected to close upon receipt
of customary approvals, were not disclosed.

About Affiliated Managers Group

Affiliated Managers Group is a diversified asset management
company with approximately $254 billion in assets at June 30, 2008
(pro forma for pending investments). AMG's strategy is to generate
growth through the internal growth of its existing Affiliates, as well
as through investments in new Affiliates. Through AMG's innovative
partnership approach, individual members of each Affiliate's
management team retain or receive significant direct equity ownership
in their firm while maintaining operating autonomy. AMG provides
centralized assistance to its Affiliates in strategic matters,
marketing, distribution, product development and operations. For more
information, please visit the Company's Web site at www.amg.com.

Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the federal
securities laws. Actual results and the timing of certain events could
differ materially from those projected in or contemplated by the
forward-looking statements due to a number of factors, including
changes in the securities or financial markets or in general economic
conditions, the availability of equity and debt financing, competition
for acquisitions of interests in investment management firms, our
ability to complete pending acquisitions, the investment performance
of our Affiliates and their ability to effectively market their
investment strategies, and other risks detailed from time to time in
AMG's filings with the Securities and Exchange Commission. Reference
is hereby made to the "Cautionary Statements" set forth in the
Company's Form 10-K for the year ended December 31, 2007.

Brett S. Perryman
Laura O'Brien
Affiliated Managers Group, Inc.
(617) 747-3300
pr@amg.com
or
Tucker Hewes
Hewes Communications, Inc.
(for Harding Loevner LLC)
(212) 207-9451
tucker@hewescomm.com

Copyright Business Wire 2008