Managers Acquires Fremont Funds

Jan. 19, 2005 -- Managers Investment Group LLC completed the acquisition of about $3 billion in assets under management, including the 12 Fremont mutual funds, from Fremont Investment Advisors Inc.

According to Managers, two of the former Fremont funds will merge into existing Managers portfolios. The remaining ten former Fremont Funds will change their names, except for a money market fund.

In some cases, the "Fremont" name is retained, indicating no change in the portfolio management or sub-advisory team. For example, the new Manager Fremont Bond Fund, formerly the Fremont Bond Fund, will continue to be overseen by William Gross of PIMCO. Kern Capital Management will continue to manage the two micro-cap products.

As a result of the transaction, the Managers Funds family now comprises 37 offerings, with a total of $8 billion in assets under management.

FORMER FUND NAME NEW FUND/NEW SYMBOL
Fremont Bond Fund (FBDFX) Managers Fremont Bond Fund (MBDFX)
Fremont California Intermediate Tax Free Fund (FCATX) Managers California Intermediate Tax-Free Fund (MCATX)
Fremont Global Fund (FMAFX) Managers Fremont Global Fund (MMAFX)
Fremont International Growth Fund (FIGFX) Managers International Growth Fund (MIGGX)
Fremont Large Cap Growth Fund (FNEGX) Merging into Managers Capital Appreciation Fund (MGCAX)
Fremont Large Cap Value (FNEVX) Merging into Managers Value Fund (MGIEX)
Fremont Money Market Fund (FRMXX) Fremont Money Market Fund (MFMXX)
Fremont Real Estate Fund (FREFX) Managers Real Estate Securities Fund (MRESX)
Fremont Structured Core Fund (FEQFX) Managers Structured Core Fund (MEQFX)
Fremont US Micro Cap Fund (FUSMX) Managers Fremont Micro-Cap Fund (MMCFX)
Fremont US Micro Cap Fund/Institutional (FIMCX) Managers Fremont Institutional Micro-Cap Fund (MIMFX)
Fremont US Small Cap Fund (FUSSX) Managers Small Cap Fund (MSSCX)

Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.

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