Company Press Release

JERSEY CITY, N.J., Oct. 5 -- Lord, Abbett & Co. LLC ("Lord Abbett"), an independent, privately held investment management firm, today announced the appointment of five new Partners. Each of the newly named Partners represents one of three major concentrations of the firm: investments, distribution, and core services.

2010 Lord Abbett Partner Appointments:

David J. Linsen -- Portfolio Manager

Thomas B. Maher -- Portfolio Manager

Jonathan M. Morgan -- Director of Institutional Services

Lawrence B. Stoller -- Deputy General Counsel

Stacy P. Allen -- Chief Administrative Officer

"As all Partners before them, these individuals have undeniably proven themselves as leaders in their areas of expertise," said Daria L. Foster, Lord Abbett Managing Partner. "I look forward to their future contributions as we continue to serve as stewards of our clients' assets and guide the firm into its next phase of growth."

"We are pleased to recognize each of the new Partners for their many contributions to Lord Abbett's success," added Robert S. Dow, Lord Abbett Senior Partner. "We believe our partnership structure is a strategic advantage that affords us the opportunity to focus solely on our clients' needs and maintain a singular focus on the management of money."

The appointments bring the total number of Lord Abbett Partners to 60.

About Lord Abbett

Lord, Abbett & Co. LLC is an independent, privately held firm with a singular focus on the management of money. As one of the oldest money management firms in the United States, Lord Abbett has consistently provided generations of clients and their financial advisors with a quality investment experience since 1929. Lord Abbett manages approximately $102.1 billion in assets (as of September 30, 2010) across a full range of mutual funds, institutional and separately managed accounts, including $3.1 billion for which Lord Abbett provides investment models to managed account sponsors.