Scott Cooley, 38, has been promoted to chief financial officer of Morningstar, effective August 10, 2007. Cooley has been with the company since 1996. His most recent role was as co-CEO for Morningstar Australia and Morningstar New Zealand. He replaces Martha Dustin Boudos, who will take on a new, to-be-determined role at the company.

Morningstar, Inc. , a leading provider of independent investment research, today announced the appointment of Scott Cooley, 38, as chief financial officer, effective August 10, 2007. Martha Dustin Boudos, who has served as chief financial officer since 2001, will remain at Morningstar and work closely with him to assist with a smooth transition before she takes on a new role at the company. Cooley was co-chief executive officer for Morningstar Australia and Morningstar New Zealand.

"Scott is an 11-year veteran of Morningstar who has continuously demonstrated his strong leadership ability in each role he has undertaken in the company. Most recently as co-CEO for Morningstar Australia and Morningstar New Zealand, Scott has contributed to the significant growth of those operations and led the groups through the successful acquisition of Aspect Huntley," said Joe Mansueto, chairman and chief executive officer. "Scott has strong financial abilities and a thorough knowledge of our operations. I am delighted that he will be taking the reins as our new chief financial officer."

Cooley joined Morningstar in 1996. Formerly the editor of Morningstar, Inc.'s flagship print product, Morningstar Mutual Funds, Cooley was a senior manager for the company's U.S. website, http://www.morningstar.com/, the lead fund analyst for Fidelity, Vanguard, and Oakmark funds, and a stock analyst. Cooley became CEO of Morningstar Australia and Morningstar New Zealand in 2003 and then co-CEO with Andrew Bird following the acquisition of Aspect Huntley in July 2006. Bird will assume the role of CEO for Morningstar Australia and Morningstar New Zealand.

Before joining Morningstar, Cooley was a bank examiner for the Federal Deposit Insurance Corporation (FDIC), where he focused on credit analysis and asset-backed securities. He has a bachelor's degree in economics and social science and a master's degree in history from Illinois State University.

Mansueto added, "Scott will have some big shoes to fill. Martha Boudos has made countless contributions to our success over the last 15 years, and I'm very pleased that she plans to stay on as a valued member of our team."

Boudos joined Morningstar in 1992. On March 6, 2007, the company announced that she planned to take on a new role, which is still being determined. Among her many accomplishments as CFO, Boudos successfully built a finance organization, led Morningstar's open-auction initial public offering two years ago, and was instrumental in the company's four recent acquisitions.

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in the United States and in major international markets. 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 230,000 investment offerings, including stocks, mutual funds, separate accounts, hedge funds, and similar vehicles. The company has operations in 16 countries and minority ownership positions in companies based in three other countries.

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Edited by: Erin Kello

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