VRS Recognized for Excellence

Richmond, Va., August 9, 2004—The Virginia Retirement System (VRS) announced today that the Government Finance Officers Association of the United States and Canada (GFOA) has recognized the agency's fiscal year 2003 annual financial report with the Certificate of Achievement for Excellence in Finance Reporting (CAFR).

This is the 22nd consecutive year that VRS has received the GFOA's highest form of recognition in the area of governmental accounting and financial reporting. VRS Director W. Forrest Matthews, Jr. said, "It is an honor to receive this award which recognizes VRS' high standards and its ability to communicate its financial story to the public through the CAFR."

GFOA is a nonprofit professional association serving approximately 15,000 government finance professionals.

Contact: Jeanne Chenault 804-697-6665

VRS is the 30th largest public or private pension fund in the United States with a $39-billion portfolio.

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