The Oakmark International and Oakmark International Small Cap Funds to Re-Open to New Investors

    CHICAGO, Dec. 20 /PRNewswire/ -- Harris Associates L. P. announced
 today that The Oakmark International and Oakmark International Small Cap
 Funds will re-open to new investors on January 2, 2008. The Oakmark
 International Fund, which was launched on September 30, 1992, closed to
 most new investors December 15, 2003. The Oakmark International Small Cap
 Fund, which was launched on November 1, 1995, closed to new investors May
 10, 2002.
 
     "In the years that the Funds were closed, the desire of existing
 investors to add to their accounts fully offset the needs of existing
 investors to sell their shares. Over the past several months that no longer
 held true," says David Herro, portfolio manager of The Oakmark
 International and International Small Cap Funds. "We're excited about the
 investment opportunities we're seeing around the world and believe that
 restoring the balance between purchases and sales is in the best interest
 of Fund shareholders."
 
     For more information about The Oakmark International and Oakmark
 International Small Cap funds, please visit http://www.oakmark.com.
 Prospective investors can purchase shares directly from Oakmark by visiting
 http://www.oakmark.com or calling 1-800-OAKMARK (625-6275). The Funds will
 also be available through certain third party intermediaries.
 
     ABOUT THE OAKMARK INTERNATIONAL AND OAKMARK INTERNATIONAL SMALL CAP
 FUNDS:
 
     The Oakmark International investment philosophy is centered in the
 belief that superior, long-term results are achieved through investing as
 owners in quality companies that can be purchased at a significant discount
 to their true economic value.
 
     The Oakmark International Fund seeks capital appreciation by investing
 in a portfolio of approximately 40-60 mid- and large-cap companies based
 outside the U.S. The Oakmark International Small Cap Fund seeks capital
 appreciation by investing in a portfolio of 40-60 small-cap companies based
 outside the U.S.
 
     ABOUT THE OAKMARK FUNDS AND HARRIS ASSOCIATES L.P.:
 
     The Oakmark Funds are a $37 billion mutual fund family that utilizes a
 long-term value investment approach. Harris Associates L. P., a
 Chicago-based investment management firm founded in 1976, serves as the
 Adviser to The Oakmark Funds and manages domestic, international and global
 portfolios for institutional and high net worth investors. The Oakmark
 Funds are distributed by Harris Associates Securities L. P., member FINRA.
 For more information including management fees and expenses and the special
 risks of investing, visit http://www.oakmark.com or call 1-800-OAKMARK for
 a prospectus. An investor should consider a fund's investment objectives,
 risks, and charges and expenses carefully before investing. This and other
 information are contained in the prospectus.
 
 
 

SOURCE Harris Associates L.P.

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