RS Investments Settlements

Distribution Update (12/8/2008)

Effective November 28, 2008, all check processing has been completed and the Fund Administrator is unable to issue further check payments.

If you are in possession of a check, and plan to negotiate it, please present it to your bank before December 29, 2008. Checks presented after this date will not be honored by the RS Investments Fair Fund.

For general settlement questions please review the FAQ page on this website or call and leave a message for the Fund Administrator at 1-866-700-0119.

Settlement Update (5/1/2008)

Please be advised that the dilution and advisory fee component percentages stated in the message attached to your check may be incorrect. The correct dilution component percentage is 31.7% and the advisory fee component percentage is 68.3%. Please refer to the Tax Information tab to view the RSI Statement to Eligible Investors which reflects the appropriate percentages.

RS Investments Settlement Summary

On October 6, 2004, in the above-captioned matter, the Commission issued an Order instituting and simultaneously settling public administrative and cease-and-desist proceedings against the Respondents. In the Order, the Commission authorized and established a Fair Fund (the "Fair Fund"), comprised of the disgorgement and penalty paid by RS, for distribution to investors in RS mutual funds pursuant to the Distribution Plan developed by an Independent Distribution Consultant ("IDC").

The Distribution Plan provides for distribution to all eligible investors in 10 RS Funds, during the period from January 1, 2000, through December 31, 2003, their proportionate share of the Fair Fund. The affected RS Funds are: Emerging Growth, Value + Growth (now Growth), Contrarian Value (now Value), Partners, MidCap Opportunities, Internet Age (merged into RS Technology), Information Age (now RS Technology), Global Natural Resources, Diversified Growth (now Select Growth), and Smaller Company Growth

Only those investors with net losses above a certain threshold will receive checks. The aggregated Fair Fund reflects the $25 million of disgorgement and penalty paid by RS, plus any accumulated interest and monies from other Fair Fund Settlements.

Eligible investors in the affected RS Funds will receive a pro rata share of the Fair Fund, based on the amounts and timing of their investments in RS Funds during the applicable period, as calculated by the IDC, Alan C. Shapiro (Ivadelle and Theodore Johnson Professor of Banking and Finance at the Marshall School of Business, University of Southern California). The pro rata shares of the RS Fair Fund will be determined based on information contained in RS' records, as well as records obtained from third-party intermediaries. Eligible investors do not need to file claims.

On August 8, 2007, the SEC approved the Plan of Distribution described above. The approved Plan is posted on the SEC Website and can be accessed in the "Links & Related Documents" page of this website.

If you have any questions regarding this settlement, please contact the RS Investments Fund Administrator at 1-866-700-0119.