RS INVESTMENTS BOLSTERS RESEARCH EFFORT WITH THREE ADDITIONAL EQUITY ANALYSTS

Firm Recruits Top Talent from Leading Hedge Fund and Research Firms

SAN FRANCISCO, September 24, 2009 – RS Investments (RS), a San Francisco-based investment management firm, today announced that Daniel Lang, MD, and Randy Sternke, CFA, joined the RS Value Team and John Tilney, CFA, joined the RS Growth Team as investment research analysts.

The hiring of additional research talent reflects RS Investments' continued commitment to reinvest in its business and strengthen its already deep investment teams. "Our investment-centered culture has allowed us to continue to attract and retain exceptional investment talent," said Terry Otton, chief executive officer of RS Investments. "At a time when the industry is retrenching, RS is accelerating its investments in top investment professionals."

Daniel Lang, MD, investment research analyst and a former cardiologist

Daniel Lang, MD, will focus on the healthcare sector for the RS Value Team. He spent the past 15 years practicing medicine, building and managing healthcare businesses, and ultimately overseeing a large cap healthcare portfolio for Farallon Capital Management, one of the largest hedge fund managers in the US. In his medical career, Lang was a fellow in cardiology at the University of California, San Francisco, and chief medical resident at Mount Sinai Hospital in New York. He received a medical degree from Cornell University Medical College after earning his bachelor's degree in chemistry from Cornell with distinction in all subjects.

Randy Sternke, CFA, investment research analyst

Randy Sternke, CFA, joins the Value team after serving as an investment analyst specializing in financial services at Merrill Lynch in San Francisco. Prior to this he was an analyst with A.G. Edwards & Sons, covering banking and media and entertainment. He holds a bachelor's degree in business administration, with a concentration in finance and banking from the University of Missouri-Columbia. He is a member of the San Francisco CFA Society.

John Tilney III, CFA, investment research analyst

John Tilney III, brings more than seven years of professional experience to his role as sector analyst covering industrials and materials for the RS Growth Team. Most recently at Bodri Capital Management, LLC, he was an analyst covering companies across the financial, consumer and industrial/transportation/material sectors for the firm's $300 million fund. Prior to that, he was an associate at Putnam Investments on the firm's large cap equity research teams. Tilney received a master's degree in business administration from Stanford after earning a bachelor's degree in computer science from Tufts University.

RS Investments research-intensive investment process demands the expertise of experienced business analysts. Twenty-two investment professionals – 15 dedicated to Value and seven dedicated to Growth – have an average of 14 years of industry experience, according to Otton. Through its mutual fund family, RS Funds, the firm also offers access to exceptional international and fixed income investment strategies through its sub advisors.

About RS Investments

RS Investments is an investment management firm offering investment solutions for institutional and individual investors and the advisors who serve them. The firm's specialized investment platform supports distinct investment teams, each utilizing disciplined and repeatable investment processes to deliver research-driven value, growth, international, and fixed income strategies. The firm was founded in 1986 and has offices in San Francisco and New York.

As with all mutual funds, the value of an investment in the Fund could decline, so you could lose money. The Fund invests primarily in equity securities and therefore exposes you to the general risks of investing in stock markets.

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.

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.

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

GIS is a member: FINRA, SIPC.

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.

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

GIS is a member: FINRA and SIPC.

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

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