Company Press Release

SAN ANTONIO--USAA Investment Management Company, which manages more than $47.3 billion in mutual fund assets and $8.2 billion in managed accounts as of Dec. 31, 2010, today announced it will provide expanded access to 18 USAA equity and fixed-income mutual funds through Fidelity Investment’s® easy-to-use online platform.

The 18 funds include fixed-income funds*, and the USAA Precious Metals and Minerals Fund (USAGX), the No. 1-performing mutual fund over the 10-year period ended Dec. 31, 2010, according to Lipper.**

“Investors want easier access to our mutual funds, and our strategy is to give them that access through leading online platforms such as Fidelity,” said Dan McNamara, president of USAA Investment Management Company. “We’re excited about joining the Fidelity network for individual investors and retirement plan sponsors, and look forward to expanding through additional platforms in the near future.”

The USAA funds now available through the Adviser Share class on the Fidelity® FundsNetwork® platform include:

USAA Precious Metals and Minerals Fund (USAGX)

USAA Intermediate-Term Bond Fund (USIBX)

USAA Science & Technology Fund (USSCX)

USAA Short-Term Bond Fund (USSBX)

USAA Growth & Income Fund (USGRX)

USAA Income Fund (USAIX)

USAA Tax Exempt Intermediate-Term Bond Fund (USATX)

USAA Tax Exempt Long-Term Fund (USTEX)

USAA Tax Exempt Short-Term Fund (USSTX)

USAA International Fund (USIFX)

USAA World Growth Fund (USAWX)

USAA Emerging Markets Fund (USEMX)

USAA GNMA Trust (USGNX)

USAA California Bond Fund (USCBX)

USAA New York Bond Fund (USNYX)

USAA Virginia Bond Fund (USVAX)

USAA Value Fund (UVALX)

USAA High-Yield Opportunities Fund (USHYX)

Individual investors also can continue to directly access USAA’s full suite of mutual funds through usaa.com or by calling 800-531-USAA.

Past performance is no guarantee of future results. Consider the investment objectives, risks, charges and expenses of the USAA mutual funds carefully before investing. Contact us at 800-531-8910 for a prospectus containing this and other information about the funds from USAA Investment Management Company, Distributor. Read it carefully before investing.

Investing in securities products involves risk, including possible loss of principal.

About USAA

USAA provides insurance, banking, investment and retirement products and services to 8 million members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving or have honorably served our nation in the U.S. military – and their families. For more information about USAA, or to learn more about membership, visit usaa.com.

* Sixty-seven percent of USAA bond funds and 56 percent of our mutual funds beat their Lipper category averages for one-year returns for the period ending Dec. 31, 2010. Based on average annual returns, 8 out of 12 USAA fixed-income funds beat their Lipper averages for the one-year period ending Dec. 31, 2010. For the five- and 10-year periods ending Dec. 31, 2010, 67 percent of USAA’s fixed-income funds (8 out of 12 funds), and 92 percent (11 out of 12 funds), respectively, beat their Lipper averages. Based on average annual returns, 25 out of 45 USAA funds beat their Lipper averages for the one-year period ending Dec. 31, 2010. For the five- and 10-year periods ending Dec. 31, 2010, 59 percent (23 out of 39 funds), and 65 percent (24 out of 37 funds), respectively, beat their Lipper averages. Results will vary for other time periods. Source: Lipper Inc.

** The USAA Precious Metals and Minerals Fund ranked No. 70 of 7,478, No. 4 of 5,420, and No. 1 of 4,097 among a distinct portfolio universe of all Lipper mutual funds, across all categories of funds, for the 1-, 5-, and 10-year periods, respectively, ending Dec. 31, 2010.

The USAA Precious Metals and Minerals Fund is subject to additional risks, such as currency fluctuation, market liquidity, political instability and increased price volatility and may be more volatile than a fund that diversifies across many industries and companies.

As interest rates rise, existing bond prices fall.

Investments provided by USAA Investment Management Company and USAA Financial Advisors Inc., both registered broker dealers. Managed Accounts is a service of USAA Investment Management Company (USAA), a registered investment adviser and broker dealer.

About Fidelity Investments

Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of nearly $3.5 trillion, including managed assets of $1.6 trillion, as of Dec. 31, 2010. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com

“Fidelity”, “Fidelity Investments” and “FundsNetwork” are registered service marks of FMR LLC


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