Morningstar to Acquire Canadian Investment Awards and Gala

CHICAGO, Dec. 2 /CNW/ - Morningstar Research Inc., a Canadian subsidiary of Morningstar, Inc. (NASDAQ: MORN), has entered into a definitive agreement to acquire the Canadian Investment Awards and Gala from Canadian Investment Awards Inc., a privately held firm based in Toronto. Terms were not disclosed. The companies expect to complete the transaction during the first quarter of 2010, subject to customary closing conditions.

Since launching in 1994, the Canadian Investment Awards and Gala has become Canada's marquee investment awards program, recognizing excellence in products and firms within the financial services industry. Experts from across the industry, including senior analysts from Morningstar, determine the funds, portfolio managers and sponsors that have distinguished themselves in more than 40 investment categories based on quantitative and qualitative factors. The awards are distributed at a gala attended by more than 600 people each December in Toronto, where the 2009 gala will be held tonight.

Morningstar has been a long-time platinum sponsor of the awards and its research analysts are heavily involved in the evaluation and selection process. Under terms of the agreement, the awards and gala will be re-branded under the Morningstar name.

"Morningstar's research has always focused on helping investors find investments that outperform, so it seems only fitting that Morningstar will become home to the awards program that recognizes the best in the Canadian investment industry," said Scott Mackenzie, president and chief executive officer of Morningstar Canada.

"It has been gratifying to see the growth of the Canadian Investment Awards since I launched it 15 years ago," said Sabine Steinbrecher, chief executive officer and founder of Canadian Investment Awards Inc. "It's a natural time to make this transition, and it makes sense to leave the awards and gala in the capable hands of Morningstar, an organization that has been instrumental in our success over the years, through both its sponsorship and evaluation of our award recipients."

About Morningstar Research Inc.

Morningstar Research Inc. is a Canadian subsidiary of Chicago-based Morningstar, Inc., a leading provider of independent investment research. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 325,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 20 countries and minority ownership positions in companies based in two other countries.

About the Canadian Investment Awards

The Canadian Investment Awards and Gala recognizes leading investment products and firms that illustrate an enduring commitment to excellence within the Canadian financial services industry. In its 15th year, the Canadian Investment Awards bring together the industry, investors, and advisors to select top performers.

For more information about the Canadian Investment Awards please visit www.InvestmentAwards.com.

Caution Concerning Forward-Looking Statements

This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," or "continue." These statements involve known and unknown risks and uncertainties that may cause the events we discussed not to occur or to differ significantly from what we expected. For us, these risks and uncertainties include, among others, general industry conditions and competition, including the global financial crisis that began in 2007; the impact of market volatility on revenue from asset-based fees; damage to our reputation resulting from claims made about possible conflicts of interest; liability for any losses that result from an actual or claimed breach of our fiduciary duties; financial services industry consolidation; a prolonged outage of our database and network facilities; challenges faced by our non-U.S. operations; and the availability of free or low-cost investment information. A more complete description of these risks and uncertainties can be found in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2008. If any of these risks and uncertainties materialize, our actual future results may vary significantly from what we expected. We do not undertake to update our forward-looking statements as a result of new information or future events.

SOURCE Morningstar Research Inc.

For further information: For further information: Media Contacts: Rudy Luukko, (416) 484-7825, rudy.luukko@morningstar.com; Margaret Kirch Cohen, (312) 696-6383, margaret.cohen@morningstar.com


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