Harris Associates L.P. Launches New Global Fund

Oct 02, 2006, 01:00 ET from Harris Associates L.P.

    CHICAGO, Oct. 2 /PRNewswire/ -- Harris Associates L.P., the
 Chicago-based investment adviser of The Oakmark Funds, opened The Oakmark
 Global Select Fund today. Designed for long-term capital appreciation, The
 Oakmark Global Select Fund is a non-diversified fund that will own
 approximately 20 large companies from around the world. The Fund will be
 managed using the same value-oriented investment approach that is the
 hallmark of The Oakmark Funds.
     "We believe big, high quality businesses from around the world are now
 attractively priced and believe a concentrated fund is the best way to
 capitalize on this opportunity," say Bill Nygren and David Herro,
 co-portfolio managers.
     The Oakmark Global Select Fund will be co-managed by Bill Nygren, who
 currently serves as co-manager of The Oakmark and Oakmark Select Funds, and
 David Herro who currently serves as manager to The Oakmark International
 Fund and co-manager of The Oakmark International Small Cap Fund.
     Bill joined Harris Associates as an Investment Analyst in 1983 and
 served as the firm's Director of Research from 1990 through March 1998.
 Bill was named Morningstar's Domestic Stock Manager of the Year for 2001.
 He has an M.S. in Finance from the University of Wisconsin-Madison Applied
 Security Analysis Program (1981) and a B.S. in Accounting from the
 University of Minnesota (1980). He has over twenty-five years of investment
 experience and is a CFA charterholder(R).
     David joined Harris Associates in 1992 and is the Chief Investment
 Officer of International Equities. David has been managing international
 portfolios since 1986, previously managing an international portfolio for
 The State of Wisconsin Investment Board. He also served as a Portfolio
 Manager for international equity portfolios with The Principal Financial
 Group of Des Moines, Iowa. David has an M.A. in Economics from the
 University of Wisconsin- Milwaukee (1985) and a B.S. in Business/Economics
 from the University of Wisconsin-Platteville (1983). He has over twenty-one
 years of investment experience and is a CFA charterholder(R).
     Investing in value stocks presents the risk that value stocks may fall
 out of favor with investors and underperform growth stocks during given
 periods. Because The Oakmark Global Select Fund is non-diversified, the
 performance of each holding will have a greater impact on the Fund's total
 return, and may make the Fund's returns more volatile than a more
 diversified fund. For a prospectus and more complete information, including
 management fees and expenses and the special risks of investing, please
 call 1-800-OAKMARK or visit http://oakmark.com . Read it carefully before
 investing. An investor should consider a fund's investment objectives,
 risks, and charges and expenses carefully before investing. This and other
 information about the funds are contained in the fund's prospectus.
     Harris Associates Securities L.P., Distributor, Member NASD. October

SOURCE Harris Associates L.P.