RS Investments Names New CFO and Adds Analyst to Investment Team

San Francisco, August 16, 2006 - RS Investments, the San Francisco-based investment management firm, today announced new additions to its executive and investment management teams. James E. Klescewski, a seasoned executive with a strong background in investment management, has joined the firm as chief financial officer. He will oversee the financial reporting and accounting functions for the $11 billion asset management firm.

"Jim brings to the firm extensive experience and industry knowledge. We are very pleased to have him on board," said Terry Otton, chief executive officer of RS.

Klescewski has more than three decades of experience in the financial services industry, serving in prior positions as CFO at San Francisco-based firms investment management firms including Montgomery Asset Management. He is a Certified Public Accountant and holds an M.B.A., along with a B.S. in accounting from California State University at Hayward.

In addition, Ernest P. Schleimer joined RS as an analyst on the firm's Value team. Schleimer has more than 14 years of experience in the financial service industry as an analyst. Previously, he has worked as an analyst at RCM Global Investors, RCM Financial Services Fund, and Franklin Resources. Schleimer holds a B.A. in economics and German area studies from Tufts University and a M.B.A. from the Stanford Graduate School of Business. He is also a Chartered Financial Analyst.

Press

You should read the current RS Funds' Prospectus before investing. The RS Funds' Statement of Additional Information (SAI) provides information about the Funds that may not be contained in the Prospectus.

RS Funds are sold by Prospectus only. You should carefully consider the investment objectives, risks, charges, and expenses of the RS Funds before making an investment decision. The prospectus contains this and other important information. Please read it carefully before investing or sending money. To obtain a printed copy, please call 800-766-3863.

If you are an existing shareholder and would like a copy of the prospectus or need to contact RS Investments, call 800-766-3863. If you are interested in learning more about and how to invest with RS, please contact your financial professional.

The information on this web site is intended for U.S. residents only. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer.

RS Funds are distributed by: Guardian Investor Services LLC, 7 Hanover Square, New York, NY 10004.

RS is an independent subsidiary of Guardian Investor Services LLC. Guardian Investor Services LLC (GIS), is a registered broker-dealer, registered investment advisor, and a wholly owned subsidiary of The Guardian Life Insurance Company of America.

Not A Deposit / Not FDIC or NCUA Insured / May Lose Value / No Bank or Credit Union Guarantee

GIS is a member: FINRA and SIPC.

© 2010 RS Investment Management Co. LLC
RS Investments is the marketing name for RS Investment Management Co. LLC and its affiliates.