AMENDMENT 1995-1

AMENDMENT 1995-1
TO THE
SEI CORPORATION CAPITAL ACCUMULATION PLAN

WHEREAS, SEI Corporation (the "Company") maintains the SEI Corporation
Capital Accumulation Plan (the "Plan") for the benefit of its eligible
employees;

WHEREAS, effective January 1, 1992, the definition of "Employee"
provided in Section 2.14 of the Plan was revised to exclude from such definition
wholesale, retail and franchise sales personnel connected with a single bank or
other financial institution;

WHEREAS, it was the Company's intention to exclude from the definition
of "Employee" provided in Section 2.14 of the Plan and in practice the Company
has excluded, only retail sales personnel connected with a single bank or other
financial institution;

WHEREAS, the Company now wishes to make a corrective amendment to the
Plan so as to have the terms properly reflect the Company's intent in this
regard;

NOW, THEREFORE, in accordance with the foregoing, Section 2.14 of the
Plan shall be amended, effective as of January 1, 1992, to read, in its
entirety, as follows:

"2.14 `Employee' shall mean each person in the employ of an
Employer, other than (i) any person in a category of employees excluded
from coverage under the Plan by the terms of any Adoption Agreement, (ii)
any person whose terms and conditions of employment are determined through
collective bargaining with a third party if the issue of retirement
benefits has been a bona fide subject of collective bargaining, unless the
collective bargaining agreement provides for the eligibility of such person
to participate in this Plan, (iii) any person who, as to the United States,
is a non-resident alien with no U.S. source income from the Employer, and
(iv) effective January 1, 1992, any personnel dedicated to the sale of fund
products through retail distribution channels for a single bank or other
financial institution."

IN WITNESS WHEREOF, SEI CORPORATION has caused this Amendment 1995-1
to the Plan to be duly executed this 22 day of December, 1995, effective in
accordance with its terms.


SEI CORPORATION
Attest:

/s/ Kevin Robins By: /s/ Kevin Robins
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Assistant Corporate Secretary