Ivy Funds has tapped Theresa Shuping to be its new senior vice president and western divisional sales manager. Shuping was previously with Principal Financial Group (WM Funds), where she was vice president, director-internal sales at Principal Funds Distributor. The title of western divisional sales manager was last held by Greg Burks who left Ivy earlier this year, according to a company spokesperson.

Ivy Funds has named Theresa M. Shuping, CFP, to the post of Senior Vice President and Western Divisional Sales Manager, where she will lead business development and wholesaling initiatives to help further broaden sales of Ivy Funds in multiple channels across the western region of the United States.

Shuping brings more than two decades of financial sales management experience to Ivy Funds, with special expertise in the financial institution and independent advisor channels. She will report to Brad Ross, Executive Vice President and National Sales Manager for Ivy Funds.

�Theresa has a breadth of experience that will be valuable as we continue our national strategic growth initiatives at Ivy Funds,� said Thomas W. Butch, President and CEO of Ivy Funds Distributor, Inc. �She will be instrumental as we seek to further expand and leverage our relationships in the wirehouse, financial institution and independent advisor channels.�

Most recently, she was with Principal Financial Group (WM Group of Funds), where she was Vice President, Director-Internal Sales at Principal Funds Distributor. While there she doubled the size of the internal wholesaling team to 40 people in 18 months and helped lead PFG�s integration of WM Advisor, Inc. Shuping has directed financial consultant training and sales management programs at multiple organizations, including Washington Mutual, First Interstate Investments (now Wells Fargo Securities) and other California banks. Two years ago she hosted an internal sales conference for the Investment Company Institute. She began her career as a personal financial planner at American Express Financial Advisors in 1986.

Shuping will be based in Sacramento, Ca. She holds a Series 24 NASD license and has a B.S. in finance from the University of Illinois, Champaign-Urbana.

The Ivy Funds ranked among the fastest growing mutual fund families in 2006, according to a recent study released by Financial Research Corporation (FRC). The Ivy Funds, with a 68 percent increase in assets under management in 2006, ranked fourth in terms of asset growth over the year among all firms with assets of $5 billion or greater. The 68 percent increase well outpaces the average growth rate during the period of 17 percent for firms of similar size, according to FRC. The Ivy Funds cover all major asset categories, including domestic, global and international equities; international and domestic balanced funds; domestic and international fixed income funds; specialty funds and a money market fund.

Mutual fund assets overall grew 17 percent during 2006, according to The Wall Street Journal (1/31/07). FRC, a division of Bisys, is a financial services consulting firm based in Boston, specializing in competitive intelligence and analytical services. For a copy of the �Fastest Growing Mutual Fund Complexes � 2006� report, visit www.frcnet.com.

The Ivy Funds are managed by Ivy Investment Management Company and distributed by its subsidiary, Ivy Funds Distributor, Inc. Waddell & Reed Financial, Inc., the ultimate parent company of Ivy Funds Distributor, Inc., acquired the investment advisor to the Ivy Funds in December 2002.

Please remember that, as with any mutual fund, investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. For a prospectus containing this and other information for any of the Ivy Funds, call your financial advisor or visit www.ivyfunds.com. Please read the prospectus carefully before investing.

Edited by: Erin Kello

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