Ron Baron is setting his sights overseas with the eighth fund for eponymously named fund complex. Like the other funds in the family, Baron International Growth Fund, will be no-load. Michael Kass will act as portfolio manager for the fund.

Baron said that he sees "excellent opportunities in international businesses that will continue to grow to satisfy increasing international demand."

No word if the new fund means there will be an "international" flavor at the firms annual shareholder concert ... er meeting.

Company Press Releaese

Baron Launches International Growth Fund

Seeks to diversify among both developed and developing countries

Focuses on small and mid-sized companies

NEW YORK--Baron Funds today announced the initial offering of the Baron International Growth Fund. Managed by Michael Kass, the Baron International Growth Fund invests for the long term and seeks to diversify equity holdings primarily among developed foreign countries, though the Fund may also invest in developing countries. The Fund expects to invest primarily in companies with market capitalizations of $10 billion or less, but may invest in companies of any size.

As with Baron's other U.S. mutual funds, Baron International Growth Fund focuses on "sunrise industries," businesses that Baron believes will thrive in the future. The Fund seeks out non-cyclical service industries where potential growth arises from new products or markets, rather than mature manufacturers where growth is productivity driven. Mr. Kass will use traditional Baron valuation models to develop price targets based on internal projections of company fundamentals. He may also buy stock when there is a sharp drop in price, if he believes the price decline is unrelated to the fundamental value of the company or its long-term prospects.

"At Baron we see excellent opportunities in international businesses that will continue to grow to satisfy increasing international demand," says Ron Baron, CEO and Chief Investment Officer of Baron Funds. "Michael is the perfect choice to manage the Baron International Growth Fund, and the whole Baron team is excited to add this product to our lineup." The Fund may not achieve its objectives.

About Baron International Growth Fund

Baron International Growth Fund is a no-load, open-end, diversified mutual fund that invests for the long term primarily in non-U.S. growth companies. The Fund seeks to diversify among both developed and developing countries, although the Fund's total exposure to developing countries will not exceed 30%. While the Fund may invest in companies of any size, it expects to focus on small- and mid-sized companies with market capitalizations of $10 billion or less at the time of purchase.

About Baron Funds and Baron Capital Group

Baron Funds include eight no-load mutual funds: Baron Asset Fund (BARAX), Baron Growth Fund (BGRFX), Baron Small Cap Fund (BSCFX), Baron iOpportunity Fund (BIOPX), Baron Fifth Avenue Growth Fund (BFTHX), Baron Partners Fund (BPTRX), Baron Retirement Income Fund (BRIFX) and Baron International Growth Fund. More information about Baron Funds is available by calling (800) 99-BARON or by visiting www.baronfunds.com. The advisor to Baron Funds is BAMCO, Inc., a subsidiary of Baron Capital Group, Inc.

Investors should consider the investment objectives, risk, and charges and expenses of the investment carefully before investing. Baron International Growth Fund is described in a prospectus that contains this and other information about the Fund. You should carefully read the prospectus before investing. You can read, print or download a prospectus at www.BaronFunds.com/prospectus or call 800-99 -BARON to receive a prospectus in the mail. Baron Capital, Inc. is the distributor of the Baron Funds.

Baron International Growth Fund invests in non-U.S. securities which may involve additional risks to those inherent in U.S. investments, including exchange rate fluctuations, political or economic instability, the imposition of exchange controls, expropriation, limited disclosure and illiquid markets. This may result in greater share price volatility. In addition, Baron International Growth Fund intends to focus on small- and mid-sized growth companies. Securities of smaller and medium-sized companies may be thinly traded and more difficult to sell during market downturns.

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