The Oakmark Funds Announces Election of New Member to its Board of Trustees

May 04, 2006, 01:00 ET from Harris Associates L.P.

    CHICAGO, May 4 /PRNewswire/ -- On April 26, 2006, Steven S. Rogers was
 elected to The Oakmark Funds' Board of Trustees. His election brings the
 total number of trustees on the Oakmark Board to 10, of which 8 are
 independent trustees.
     Rogers, 48, is a professor at Kellogg School of Management,
 Northwestern University, where he has taught since 1995.
     For more information about The Oakmark Funds, including Fund
 information, articles and manager commentary, please visit .
     Steven Rogers is the Gordon and Llura Gund Family Distinguished
 Professor of Entrepreneurship. Professor Rogers teaches Entrepreneurial
 Finance at Kellogg and is the Director of the Larry and Carol Levy
 Institute for Entrepreneurial Practice. Before joining Kellogg, he owned
 and operated two manufacturing firms and one retail operation. Prior to
 becoming an entrepreneur, Mr. Rogers worked at Bain and Company Consulting,
 Cummins Engine Company and UNC Ventures, a venture capital firm.
     Mr. Rogers has received numerous awards during his career. In 1998,
 Ernst and Young named him Entrepreneur of the Year and in 1996 Business
 Week magazine recognized him as one of the top 12 entrepreneurship
 professors at U.S. graduate business schools. He has also received the
 award for Outstanding Professor of the Year twice from Kellogg (the only
 professor to have received the award twice) and twelve times from Kellogg's
 Executive Program.
     Mr. Rogers currently serves on the Board of Directors of SC Johnson
 Wax, W.S. Darley and Company, SuperValu (NYSE), Duquesne Light (NYSE), and
 Amcore Financial. His non-profit work includes service as a board member
 for the A Better Chance Program. Mr. Rogers is also a member of the Harvard
 Business School Visiting Committee and a Trustee of Williams College. He
 received an MBA from Harvard Business School and a Bachelor of Arts degree
 from Williams College.
     Harris Associates, adviser to The Oakmark Funds, was founded in 1976 by
 experienced investment professionals to provide investment advice to
 wealthy individuals and institutions. Harris Associates' investing
 philosophy is employed through a disciplined adherence to a value approach
 and is based on three tenets: to invest in companies trading at a
 significant discount to estimated intrinsic business value, with companies
 that consistently grow value over time, and that have shareholder-oriented
 management teams. The Oakmark Funds were introduced in August 1991 to bring
 the Harris Associates' value philosophy to a direct mutual fund investment
 vehicle. As of 3/31/06, Harris Associates' total assets under management
 were $64.8 Billion.
     The Oakmark Funds are distributed by Harris Associates Securities L.P.,
 member NASD. For more information on The Oakmark Funds, including a
 prospectus, which explains management fees and expenses and the special
 risks of investing in the Funds, please call 1-800-OAKMARK. Please 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

SOURCE Harris Associates L.P.