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Oakmark International Small Cap Closing to New Inv

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May 6, 2002 — Harris Associates L. P. said the Oakmark International Small Cap Fund (OAKEX), will close to new investors on May 10 as a result of “strong performance and strong cash inflows.”

Limiting the fund’s assets will allow the managers to maintain greater flexibility when investing in small-cap companies outside of the U.S., Oakmark said.

Co-managed by David Herro and Michael Welsh, the $324-million portfolio was up 13.82% year-to-date through April 20. For the one-year period ended in March, Oakmark International Small Cap rose 20.6%, versus an average loss of 7.6% stock funds that invest internationally.