RS Investments Selected To Subadvise New Japanese Investment Trust

San Francisco, June 8, 2007 - RS Investments announced today it was selected to subadvise a new investment trust offered by the investment arm of Shinsei Bank, a leading Japanese financial institution with more than $90 billion in assets. The investment trust will be the first retail mutual fund in Japan to offer a concentrated portfolio of small U.S. growth companies. The fund will be distributed by Shinsei Bank as well as two brokerage houses: Rakuten Securities, a top online broker, and Naito Securities, a quality boutique broker.

The fund will be managed by the RS Growth Team, led by veteran portfolio manager, Jim Callinan. The RS Growth Team brings considerable experience in the small-cap growth arena, collectively logging over 50 years of industry experience in the space. The team will manage a portfolio of 20-30 small cap growth companies operating in new, emerging sub-sectors of the economy.

"Shinsei's choice of RS as subadvisor reflects great confidence in the RS team and our small-cap growth investment strategy," said Terry Otton, CEO of RS Investments. "Shinsei Bank has a significant presence in the Japanese marketplace, and we're very pleased to partner with a firm of their stature."

The new fund, called the "American Dream Fund," will be introduced to Japanese investors in early June and commence operations on June 29, 2007.

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