There's a new mutual fund chief at TCW Group. On Tuesday the Los Angeles-based asset manager named Chuck Baldiswieler president and CEO of the TCW Strategic Income Fund and the TCW Funds, succeeding Ron Redell, who just left to join TCW alum Jeff Gundlach's new firm, DoubleLine.

To read the rest of the story of the fight between Gundlach and TCW, click here.

Baldiswieler, a 14-year TCW veteran, serves as group managing director and head of TCW's sales group. He's also a director for the TCW funds.

The move follows TCW's purchase of Metropolitan West Asset Management, unveiled December 4. At that time, TCW also revealed that Gundlach, its chief investment officer, "has been relieved of his duties," to be succeeded on the equity side by TCW's own Michael Reilly and on the fixed income side by MetWest CIO Tad Rivelle. On December 14, Gundlach unveiled DoubleLine -- so far Redell and more than 30 other TCW employees have jumped ship to rejoin Gundlach.

TCW has felt the pain of Gundlach's departure in other ways, too. Last week Reuters reported that TCW's flagship Total Return Bond Fund had already suffered $3.5 billion in outflows, while fixed income giant Pimco was stealing away clients. And MarketWatch mutual fund columnist Chuck Jaffe last week gave TCW one of his annual "Lump of Coal" awards for ousting Gundlach.

Company Press Release

LOS ANGELES, CA -- 12/22/09 -- The TCW Group, Inc. (TCW), an international asset management firm with approximately $110 billion in assets under management, today announced it named Charles "Chuck" W. Baldiswieler President and Chief Executive Officer of the TCW Strategic Income Fund, Inc. (TSI) and the TCW Funds, Inc.

Mr. Baldiswieler is Group Managing Director and Head of TCW's Sales Group and a Director of TCW Funds, Inc. and TSI. Mr. Baldiswieler replaces Ron Redell, who previously reported to Mr. Baldiswieler and recently resigned. As President and Chief Executive Officer of the Fund, Mr. Baldiswieler will be responsible for oversight of the Fund's operations.

Mr. Baldiswieler joined TCW in 1995 and has over 20 years experience in the investment industry. Since taking responsibility for TCW's mutual fund distribution platform in 2000, the fund complex has grown from $2.5 billion in assets under management as of December 2000 to $15.3 billion in November 2009, and from 22,000 individual shareholders as of February 28, 2001 to over 550,000 shareholders as of November 2009.

"Chuck is a veteran of the asset management business and of TCW. Under his leadership, the Funds have grown exponentially," said Marc I. Stern, Chief Executive Officer. "I look forward to his increased involvement in the Funds."

"I have worked with Chuck on the Board of the TCW Funds for the past year and appreciate both the breadth and depth of his experience," said Patrick C. Haden, Chairman of the TCW Funds Board. "I look forward to working more closely with Chuck as the President and CEO."

TCW Funds, Inc. is an open-end investment company, consisting of 21 separate mutual funds sold primarily to individual investors and retirement plans.

TSI is a closed-end fund listed on the New York Stock Exchange. The Fund began operations in March 1987 and currently has net assets of approximately $239 million.

About Charles W. Baldiswieler

Mr. Baldiswieler is a Group Managing Director of TCW, a Director of the TCW Funds and TSI. He directs the U.S. based distribution efforts through both the Financial Intermediary marketplace, as well as the Private Client Services group. Mr. Baldiswieler joined TCW in 1995 and has over 20 years of experience in the investment industry.

About TCW

Founded in 1971, The TCW Group, Inc. develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients' wealth. The firm has approximately $108 billion in assets under management. TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. TCW is a subsidiary of Soci�t� G�n�rale Asset Management, which has approximately $400 billion under management. For more information, please refer to www.tcw.com.

You should consider the investment objectives, risks, charges and expenses of the TCW Funds, Inc. ("Fund") carefully before investing. The Fund's prospectus contains this and other information about the Fund. To receive a free Prospectus, please call 1-800-386-3829 or you can download the Prospectus from the Fund's website at www.tcwfunds.com. Read it carefully before you invest or send money.

Various matters discussed in this news release constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected or contemplated by these forward-looking statements due to a number of factors, including general economic conditions, overall availability of certain types of securities for investment by the Fund, the level of volatility in the securities markets and in the share price of the Fund, and other risk factors outlined in the Fund's SEC Filings. In addition, distribution policies are a matter of Board discretion and may be modified or terminated at any time without prior notice.

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