BIRMINGHAM, Michigan/August 3, 2004 -- Jim Robinson, CEO of Munder Capital Management, announced today that he is resigning to start a new fixed income hedge fund. Mr. Robinson joined Munder Capital in 1987 to build the firm's fixed income capabilities. He has served as the firm's CEO since early 2000.

"I'm grateful for the outstanding investment results my colleagues have generated over the past several years across our entire product lineup," Robinson said. "Given the performance and leadership at Munder Capital, I am confident the firm is poised for continued success. Personally, I am excited about the prospect of managing a hedge fund and working with clients on a full-time basis again."

Dennis Mooradian, Executive Vice President of Comerica's Wealth and Institutional Management division, has also been named Chairman and Chief Executive Officer of Munder Capital.

Enrique Chang, currently President and Chief Investment Officer of Munder Capital, will assume the additional title and responsibilities of Chief Operating Officer, reporting to Mooradian. "Enrique has been an important contributor to Munder's accomplishments, particularly investment performance, and with this expanded responsibility he will continue to have a major impact on the firm's success," said Mooradian.

"I am confident that we will continue to build an investment management firm of the highest quality," Chang said. "My confidence is rooted in the talent and commitment of all Munder employees. I also look forward to expanding my relationship with my colleagues at Comerica."

Media Contact:

Jackie Condie (for Munder)
212-252-8545, ext. 13