Buffalo Funds has changed the name of its USA Global Fund (BUFGX). The fund is now called the Buffalo Growth. The change, which took effect July 31, was made in order to give what Buffalo felt was a more accurate description of the investment objectives of the fund as well as to reflect a change in the investment philosophy of the fund, company officials said.

The USA Global Fund had previously limited its investments to companies that derived at least forty percent of revenues or pre-tax income from international operations. This limit has since been removed, with the goal of allowing the fund to invest in US companies that have less international involvement. The fund will retain its stated goal of providing for investors who want to participate in global expansion but who prefer investing in US companies.

The new name is based on Buffalo's belief that the expansion of discretionary income and middle-class population in developing nations may represent a surge in demand for U.S. products. Kent Gasway, Buffalo Funds' president and portfolio manager, also noted that the name change will reduce confusion as to what the fund actually invests in.

"The Buffalo Growth name will allow us to more accurately depict our focus on U.S. companies that are aggressively pursuing global markets with their established American brands," Gasaway noted. "The word 'global' in the title of the fund was confusing to some who thought the fund contained non-U.S.-based companies," Gasway explained.

The Growth Fund had roughly $83.8 million in assets as of June 30th. Its expense ratio is 103 bps and it has been in operation since 1995.

Company Press Release

MISSION, Kan. (July 31, 2009) � In order to accurately reflect the true nature of the mission of the fund, Buffalo Funds announces it is changing the name of its USA Global Fund (BUFGX) to Buffalo Growth (BUFGX) on July 31, 2009.

�The Buffalo Growth name will allow us to more accurately depict our focus on U.S. companies that are aggressively pursuing global markets with their established American brands.,� Kent Gasaway, Buffalo Funds president and portfolio manager, said. �The word �global� in the title of the fund was confusing to some who thought the fund contained non- U.S.-based companies.�

The name change also reflects a broadening of the management philosophy for the fund. Until now, the USA Global Fund only invested in companies that derived at least 40 percent of their revenues or pre-tax income from international operations. That threshold has been removed, allowing the fund to research, and potentially invest in, US companies that are earlier in the process of international expansion.

�We have been seeing per-capita gross domestic product (GDP) going up in India, China, Russia, Brazil � actually all around the world. As that happens, there�s a growing ability for the people in those countries to spend and buy the kind of things that we buy and take for granted in the US, from fast food to personal care products to pharmaceuticals to luxuries,� said Gasaway. �That�s what gets us so excited about our companies in this fund.� The overall strategy the fund managers use will not change dramatically with the new name, as they want to continue to build on the discipline that has worked well for them in the past. The portfolio managers consider US companies in all market caps and all sectors, looking for companies and products that are underpenetrated on a global basis - in the US, Europe or an emerging market.

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