Manager Profile This general information is provided by and used with the permission of this manager. It may not contain information about the Pacific Select Fund portfolios managed by this manager. Pacific Select Fund portfolios are available only through variable products. Analytic Investors Analytic Investors is widely recognized for a commitment to innovative investment research, disciplined quantitative methods and an ability to implement sophisticated trading and portfolio management strategies. Its institutional heritage and time-tested strategies complement a variety of investment objectives in today's increasingly complex global arena. Founded in 1970 Headquartered in Los Angeles, CA 13 billion assets under management (12/31/07) 59 employees Pioneer of Short Extension Strategies Quantitive investment style The way Analytic Investors processes and interprets the seemingly infinite streams of financial data distinguishes it as a premier investment management company. The company's investment philosophy is founded on the premise that the stematic application of quantitative techniques has the potential to deliver consistent risk-adjusted returns, regardless of market cycles. With vast amounts of information available on demand, Analytic Investors believes that the proper weighting of the right variables in the selection process is pivotal to success. Bios Neuberger Bio Senior Vice President Summary Long/Short Large-Cap The Long/Short Large-Cap is co-managed by JPMorgan and Analytic Investors. Objectives and Investments Seeks above-average total returns through investment in equity securities of large-capitalization companies including both long and short positions. Benchmark    S&P 500® Index The S&P 500 Index is an index of the stocks of approximately 500 large-capitalization companies traded in U.S. stock markets. Results include reinvested dividends. Investment Style     Large-Cap Blend Based on information from Morningstar, Inc., 2008.

Analytic Investors Portfolios Long/Short Large-Cap Analytic Investors Managers Company Profile Select a Manager AlgerAllianceBernsteinAmerican FundsAnalytic InvestorsBatterymarchBlackRockCapital GuardianClearBridgeColumbia ManagementGoldman SachsFranklin TempletonHighlandJPMorganJanusJennison AssociatesLazardLoomis SaylesMFSNFJOppenheimerFundsPIMCOPAMVan KampenVaughan Nelson