SAN MATEO, CA – November 1, 2005 –WageWorks®, the leader in consumer health spending management, announced it is now offering its customers HSA investment options through PFPC, a leading provider of processing, technology and business solutions for the global investment industry. WageWorks' participants can now invest their HSA contributions in a portfolio of low-cost mutual funds with low investment minimums and no transaction fees along with an FDIC-insured interest bearing bank account. Investments can grow on a pre-tax basis with easy, penalty-free access to cover eligible health-related expenses.

Additional benefits of the investment offering for employers and employees include:

• Seamless solution: The investment accounts are fully integrated into the WageWorks Health Care Choice Account architecture. Funds within the interest-bearing bank account are accessible through WageWorks' convenient payment options such as its health care debit card. In addition, employees can visit the WageWorks Web site for comprehensive reporting, online investment processing and account support for both their investment accounts and their health spending.
• Flexible spending and expanded saving options: Account balances of more than $1,000 can be invested in the mutual funds offered versus the $2,000 minimum required by most competing offerings. Balances below $1,000 are deposited in an FDIC insured interest-bearing bank account. Account holders get convenient access to their funds using free debit cards, online bill payment services, account transfers and online withdrawals.
• Simple and competitive fee structure: There are no transaction fees for trades, fund transfers or withdrawals. Generally, the monthly custodial fee is covered by employers.

"PFPC has an outstanding reputation as a leading mutual fund service provider, and they share WageWorks' commitment to providing flexibility and choice when it comes to offering financial solutions," said Scott Halstead, CEO of WageWorks. "The range of investment options available through PFPC helps employers provide their employees the choices they need to take full advantage of their consumer-driven health care accounts."

WageWorks administers HSAs through the Health Care Choice Account, a convenient health care spending account solution that enables employers and employees to easily deploy and manage HSAs, flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). The accounts are offered on a single platform giving employers maximum choice in health plans and investment options, and employees vastly simplified account administration and management.

"We think it is critical to provide superior solutions when offering consumer-driven health care options to our associates," said Andy Greenberg, Director, HR Benefits, Edward Jones. "We chose WageWorks Health Care Choice HSA with the PFPC service platform because we were impressed with the simplicity and control the accounts gave our associates for their health care spending as well as saving and investing."

"WageWorks offers employers and employees outstanding tools and services for managing their health care spending and saving," said Nancy Wolcott, executive vice president, investor services, PFPC. "We're very pleased to work with WageWorks as they provide their HSA participants with robust options for growing their savings."

About PFPC
PFPC, a member of The PNC Financial Services Group, is a leading provider of processing, technology and business solutions to the global investment industry. PFPC offers fund accounting and administration, transfer agency, custody and subaccounting services for $1.9 trillion in total assets and more than 58 million shareholder accounts. Please visit us at www.pfpc.com.

The PNC Financial Services Group, Inc. (NYSE: PNC) is one of the nation's largest diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.