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Final Dividend and Capital Gain Distributions

Updated December 20th, 2007

The following table provides final 2007 year-end Fund distributions per share.

2007 FINAL DISTRIBUTIONS (Dollars Per Share)
  Ordinary Income
(per share)		 Short-Term Capital Gain
(per share)		 Long-Term Capital Gain
(per share)		 Total Distribution
(per share)

GROWTH FUNDS
RS Growth Fund - Class A $0.0039 $0.8898 $1.9101 $2.8038
RS Growth Fund - Class C and K $0.0000 $0.8898 $1.9101 $2.7999
RS Growth Fund - Class Y $0.0598 $0.8898 $1.9101 $2.8597
RS Technology Fund - Class A, C, K, and Y $0.0000 $0.6838 $1.1801 $1.8639
RS MidCap Opportunities Fund - Class A, C, K and Y $0.0000 $1.5378 $0.9184 $2.4562
RS Smaller Company Growth Fund - Class A, K, and Y $0.0000 $0.8464 $0.7614 $1.6078

VALUE FUNDS
RS Value Fund - Class A $0.1111 $0.8813 $1.1851 $2.1775
RS Value Fund - Class C $0.0852 $0.8813 $1.1851 $2.1516
RS Value Fund - Class K $0.0309 $0.8813 $1.1851 $2.0973
RS Value Fund - Class Y $0.2091 $0.8813 $1.1851 $2.2755
RS Partners Fund - Class A $0.1179 $0.5992 $2.1697 $2.8868
RS Partners Fund - Class K $0.0135 $0.5992 $2.1697 $2.7824
RS Partners Fund - Class Y $0.2731 $0.5992 $2.1697 $3.0420
RS Investors Fund - Class A, C, K, and Y $0.0000 $1.0985 $0.9427 $2.0412
RS Global Natural Resources Fund - Class A $0.0028 $0.2626 $2.4117 $2.6771
RS Global Natural Resources Fund - Class C and K $0.0000 $0.2626 $2.4117 $2.6743
RS Global Natural Resources Fund - Class Y $0.1159 $0.2626 $2.4117 $2.7902
RS Large Cap Value Fund - Class A $0.1543 $0.1621 $1.7057 $2.0221
RS Large Cap Value Fund - Class B $0.0347 $0.1621 $1.7057 $1.9025
RS Large Cap Value Fund - Class C $0.0353 $0.1621 $1.7057 $1.9031
RS Large Cap Value Fund - Class K $0.0869 $0.1621 $1.7057 $1.9547

CORE EQUITY FUNDS
RS Core Equity Fund - Class A $0.2238 $0.0000 $0.0000 $0.2238
RS Core Equity Fund - Class K $0.0357 $0.0000 $0.0000 $0.0357
RS Core Equity Fund - Class Y $0.3508 $0.0000 $0.0000 $0.3508
RS Small Cap Core Equity Fund - Class A $0.0546 $1.4281 $2.9542 $4.4369
RS Small Cap Core Equity Fund - Class B, C, and K $0.0000 $1.4281 $2.9542 $4.3823
RS Small Cap Core Equity Fund - Class Y $0.1247 $1.4281 $2.9542 $4.5070
RS Equity Dividend Fund - Class A, C, K, and Y* $0.0000 $0.0479 $0.0003 $0.0482
RS S&P 500 Index Fund - Class A $0.1618 $0.0000 $0.0000 $0.1618
RS S&P 500 Index Fund - Class B $0.0774 $0.0000 $0.0000 $0.0774
RS S&P 500 Index Fund - Class C $0.0783 $0.0000 $0.0000 $0.0783
RS S&P 500 Index Fund - Class K $0.1064 $0.0000 $0.0000 $0.1064

INTERNATIONAL FUNDS
RS International Growth Fund - Class A $0.5056 $0.0000 $0.0000 $0.5056
RS International Growth Fund - Class B $0.3637 $0.0000 $0.0000 $0.3637
RS International Growth Fund - Class C $0.3866 $0.0000 $0.0000 $0.3866
RS International Growth Fund - Class K $0.4263 $0.0000 $0.0000 $0.4263
RS Emerging Markets Fund - Class A $0.3452 $0.6760 $2.7620 $3.7832
RS Emerging Markets Fund - Class B $0.1661 $0.6760 $2.7620 $3.6041
RS Emerging Markets Fund - Class C $0.1949 $0.6760 $2.7620 $3.6329
RS Emerging Markets Fund - Class K $0.2225 $0.6760 $2.7620 $3.6605

ASSET ALLOCATION FUND
RS Asset Allocation Fund - Class A $0.1927 $0.0000 $0.0000 $0.1927
RS Asset Allocation Fund - Class B $0.0599 $0.0000 $0.0000 $0.0599
RS Asset Allocation Fund - Class C $0.0952 $0.0000 $0.0000 $0.0952
RS Asset Allocation Fund - Class K $0.1345 $0.0000 $0.0000 $0.1345

Record Date: December 19th
Ex-Dividend Date: December 20th
Pay Date: December 21st


Important Note: The RS Funds are intended as long-term investment vehicles and are not intended for short-term trading. Each Fund reserves the right in its discretion to reject any purchase, in whole or in part (including, without limitation, purchases by persons whose trading activity in Fund shares RS Investments believes could be harmful to a Fund).

* RS Equity Dividend Fund will distribute any net investment income at the end of December, as regularly scheduled.