Morningstar Ratings™ (Class A) as of 10/31/08 Ratings are based on risk-adjusted returns and are historical and do not represent future results. The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics.
Fund Name - Morningstar Category (Inception Date)	Overall	3 Year	5 Year	10 Year
GROWTH FUNDS
Emerging Growth - Small Growth Category (11/30/87)
without sales charge	out of 705	out of 705	out of 578	out of 286
including the effect of sales charges, loads, and redemption fees	out of 705	out of 705	out of 578	out of 286
Smaller Company Growth - Small Growth Category (8/15/96)
without sales charge	out of 705	out of 705	out of 578	out of 286
including the effect of sales charges, loads, and redemption fees	out of 705	out of 705	out of 578	out of 286
Select Growth - Small Growth Category (8/1/96)
without sales charge	out of 705	out of 705	out of 578	out of 286
including the effect of sales charges, loads, and redemption fees	out of 705	out of 705	out of 578	out of 286
MidCap Opportunities - Mid-Cap Growth Category (7/12/95)
without sales charge	out of 847	out of 847	out of 692	out of 340
including the effect of sales charges, loads, and redemption fees	out of 847	out of 847	out of 692	out of 340
Growth - Large Growth Category (5/12/92)
without sales charge	out of 1,502	out of 1,502	out of 1,236	out of 595
including the effect of sales charges, loads, and redemption fees	out of 1,502	out of 1,502	out of 1,236	out of 595
Technology - Specialty-Technology Category (11/15/95)
without sales charge	out of 245	out of 245	out of 222	out of 71
including the effect of sales charges, loads, and redemption fees	out of 245	out of 245	out of 222	out of 71
VALUE FUNDS
Partners - Small Blend Category (7/12/95)
without sales charge	out of 565	out of 565	out of 444	out of 196
including the effect of sales charges, loads, and redemption fees	out of 565	out of 565	out of 444	out of 196
Value - Mid-Cap Blend Category (6/30/93)
without sales charge	out of 412	out of 412	out of 329	out of 164
including the effect of sales charges, loads, and redemption fees	out of 412	out of 412	out of 329	out of 164
Investors - Mid-Cap Blend Category (11/15/05)
without sales charge	Too new for star rating	Too new for star rating	Too new for star rating	Too new for star rating
including the effect of sales charges, loads, and redemption fees	Too new for star rating	Too new for star rating	Too new for star rating	Too new for star rating
Global Natural Resources - Specialty-Natural Resources Category (11/15/95)
without sales charge	out of 153	out of 153	out of 109	out of 70
including the effect of sales charges, loads, and redemption fees	out of 153	out of 153	out of 109	out of 70
Large Cap Value - Large Value Category (2/3/03)
without sales charge	out of 1,189	out of 1,189	out of 971	n/a
including the effect of sales charges, loads, and redemption fees	out of 1,189	out of 1,189	out of 971	n/a
CORE FUNDS
Small Cap Core Equity - Small Growth Category (5/1/97)
without sales charge	out of 705	out of 705	out of 578	out of 286
including the effect of sales charges, loads, and redemption fees	out of 705	out of 705	out of 578	out of 286
Large Cap Alpha - Large Blend Category (6/1/72)
without sales charge	out of 1,773	out of 1,773	out of 1,393	out of 678
including the effect of sales charges, loads, and redemption fees	out of 1,773	out of 1,773	out of 1,393	out of 678
Equity Dividend - Mid-Cap Value Category (7/31/07)
without sales charge	Too new for star rating	Too new for star rating	Too new for star rating	Too new for star rating
including the effect of sales charges, loads, and redemption fees	Too new for star rating	Too new for star rating	Too new for star rating	Too new for star rating
INTERNATIONAL FUNDS
International Growth - Foreign Large Growth Category (2/16/93)
without sales charge	out of 184	out of 184	out of 154	out of 70
including the effect of sales charges, loads, and redemption fees	out of 184	out of 184	out of 154	out of 70
Emerging Markets - Diversified Emerging Markets Category (5/1/97)
without sales charge	out of 223	out of 223	out of 190	out of 110
including the effect of sales charges, loads, and redemption fees	out of 223	out of 223	out of 190	out of 110
FIXED INCOME FUNDS
Investment Quality Bond - Intermediate-Term Bond Category (2/16/93)
without sales charge	out of 996	out of 996	out of 857	out of 463
including the effect of sales charges, loads, and redemption fees	out of 996	out of 996	out of 857	out of 463
Low Duration Bond - Short-Term Bond Category (7/30/03)
without sales charge	out of 378	out of 378	out of 321	n/a
including the effect of sales charges, loads, and redemption fees	out of 378	out of 378	out of 321	n/a
High Yield Bond - High Yield Bond Category (9/1/98)
without sales charge	out of 473	out of 473	out of 406	out of 227
including the effect of sales charges, loads, and redemption fees	out of 473	out of 473	out of 406	out of 227
Tax-Exempt - Muni National Long Category (2/16/93)
without sales charge	out of 257	out of 257	out of 247	out of 205
including the effect of sales charges, loads, and redemption fees	out of 257	out of 257	out of 247	out of 205
S&P 500 INDEX FUND
S&P 500 Index - Large Blend Category (8/15/96)
without sales charge	out of 1,773	out of 1,773	out of 1,393	n/a
including the effect of sales charges, loads, and redemption fees	out of 1,773	out of 1,773	out of 1,393	n/a
ASSET ALLOCATION FUND
Asset Allocation - Large Blend Category (2/16/93)
without sales charge	out of 1,773	out of 1,773	out of 1,393	out of 678
including the effect of sales charges, loads, and redemption fees	out of 1,773	out of 1,773	out of 1,393	out of 678

Please Note: Without sales charge rating for Class A shares should only be considered by investors who are not subject to a front-end sales charge.

Lipper Rankings (Class A) as of 10/31/08 Lipper rankings are based on total return with dividends reinvested and do not take into account sales charges. Quartiles and rankings are based on total return and are historical and do not represent future results.
Fund Name (Inception Date)	Lipper Category	1 Year	3 Year	5 Year	10 Year
GROWTH FUNDS
Emerging Growth (11/30/87)	Small Cap Growth	#527 out of 594	#323 out of 494	#306 out of 399	#71 out of 196
Smaller Company Growth (8/15/96)	Small Cap Growth	#531 out of 594	#459 out of 494	#336 out of 399	#82 out of 196
Select Growth (8/1/96)	Small Cap Growth	#505 out of 594	#355 out of 494	#363 out of 399	#64 out of 196
MidCap Opportunities (7/12/95)	Mid Cap Growth	#591 out of 611	#439 out of 532	#344 out of 425	#105 out of 195
Growth (5/12/92)	Multi Cap Growth	#330 out of 502	#204 out of 384	#118 out of 327	#70 out of 142
Technology (11/15/95)	Science & Tech	#82 out of 95	#71out of 90	#55 out of 79	#4 out of 22
VALUE FUNDS
Partners (7/12/95)	Small Cap Core	#469 out of 779	#542 out of 626	#118 out of 486	#10 out of 204
Value (6/30/93)	Mid Cap Value	#244 out of 362	#175 out of 280	#38 out of 213	#7 out of 75
Investors (11/15/05)	Mid Cap Core	#316 out of 333	n/a	n/a	n/a
Global Natural Resources (11/15/95)	Natural Resources	#44 out of 96	#48 out of 64	#27 out of 46	#12 out of 30
Large Cap Value (2/3/03)	Large Cap Value	#443 out of 547	#354 out of 474	#249 out of 390	n/a
CORE FUNDS
Small Cap Core Equity (5/1/97)	Small Cap Core	#536 out of 779	#207 out of 626	#329 out of 486	#138 out of 204
Large Cap Alpha (6/1/72)	Large Cap Core	#49 out of 893	#2 out of 763	#35 out of 641	#195 out of 347
Equity Dividend (7/31/07)	Small Cap Core	#174 out of 286	n/a	n/a	n/a
INTERNATIONAL FUNDS
International Growth (2/16/93)	International	#23 out of 96	#38 out of 76	#24 out of 68	#24 out of 38
Emerging Markets (5/1/97)	Emerging Markets	#140 out of 295	#45 out of 206	#23 out of 173	#20 out of 98
FIXED INCOME FUNDS
Investment Quality Bond (2/16/93)	Intermediate Investment	#149 out of 568	#121 out of 467	#91 out of 397	#48 out of 199
Low Duration Bond (7/30/03)	Short Investment Grade	#15 out of 261	#9 out of 211	#10 out of 175	n/a
High Yield Bond (9/1/98)	High Current Yield	#141 out of 462	#171 out of 389	#142 out of 336	#110 out of 180
Tax-Exempt (2/16/93)	General Municipal	#24 out of 232	#25 out of 212	#4 out of 204	#3 out of 149
Money Market (11/3/82)	Money Market	#226 out of 331	#196 out of 305	#171 out of 289	#133 out of 197
S&P 500 INDEX FUND
S&P 500 Index (8/7/00)	S&P Index	#75 out of 180	#91 out of 170	#86 out of 154	n/a
ASSET ALLOCATION FUND
Asset Allocation (2/16/93)	Flexible Portfolio	#138 out of 164	#88 out of 104	#75 out of 88	#47 out of 51

© 2008 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers is responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results.

Please note, some of the Morningstar proprietary calculations, including the Morningstar Rating™ are not customarily calculated based on adjusted historical returns. The evaluation of this investment does not affect the retail mutual fund data published by Morningstar. For each retail mutual fund with at least three-year history, Morningstar calculates a Morningstar Rating™ based on Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a retail mutual fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. This investment's independent Morningstar Rating metric is then compared against the retail mutual fund universe breakpoints to determine its hypothetical rating.

Performance quoted represents past performance and does not guarantee future results.

© 2008 REUTERS. Lipper rankings are based on total return with dividends reinvested and do not take into account or reflect sales charges. Lipper, a wholly owned subsidiary of Reuters, is a leading global provider of mutual fund information and analysis to fund companies, financial intermediaries, and media organizations. Lipper clients manage more than 95% of U.S. fund assets. The firm, founded in 1973 and headquartered in New York, tracks 125,000 funds worldwide through its offices in major financial capitals in North America, Europe, and Asia. Read the following Restrictions: Information on this page has been sourced from Lipper, a Reuters Company ("Lipper Content"). All such information is protected by copyright: © 2008 REUTERS. All rights reserved. Any copying, republication or redistribution of Lipper Content is expressly prohibited without the prior written consent of Lipper. Lipper and its parent and affiliated companies will not be liable for any errors or delays in the content, or for any actions taken in reliance theron. LIPPER and the LIPPER Corporate Marks are proprietary trademarks of Lipper, a Reuters Company. For additional information on the other Lipper Services, please visit the Lipper Web site at http://www.lipperweb.com.

The information contained herein was obtained from sources we believe to be reliable and we have attempted to ensure accuracy. Investors relying on information contained herein are encouraged to verify this information directly with the rating agency or through independent sources.

Market volatility can affect short-term performance. Favorable ratings do not necessarily indicate positive returns. Please visit www.RSinvestments.com/funds/navs.html for the most up to date performance information on the RS Funds.