Company Press Release

Wasatch Emerging Markets Small Cap Fund to Close to New Investors on February 24, 2012

SALT LAKE CITY--Wasatch Advisors announced that it intends to close the Wasatch Emerging Markets Small Cap Fund (NASDAQ: WAEMX) to new investors as of February 24, 2012. The Fund will remain open to existing Fund shareholders.

Said Gene Podsiadlo, Director of Mutual Funds, “Wasatch takes product capacity very seriously. We monitor the assets under management in each of our funds carefully and commit to our shareholders that we will close funds before assets rise to a level where they would alter our intended investment strategy for a fund.”

Financial advisers and retirement plan sponsors with an established position in the Wasatch Emerging Markets Small Cap Fund will continue to have access to the Fund for both current and future clients. Similarly, retirement plans currently invested in the Fund will be able to continue to offer the Fund to both current and future plan participants.

About Wasatch Advisors

Wasatch Advisors is the investment manager to Wasatch Funds®, a family of no-load mutual funds, as well as separately managed institutional and individual portfolios. Wasatch Advisors pursues a disciplined approach to investing, focused on bottom-up, fundamental analysis to develop a deep understanding of the investment potential of individual companies. The Portfolio Managers employ a uniquely collaborative multiple eyes™ process to leverage the knowledge and skill of the entire Wasatch Advisors research team in making investment decisions. Wasatch Advisors is an employee-owned investment adviser founded in 1975 and headquartered in Salt Lake City, Utah. Wasatch Advisors, Inc. is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.

The objective of the Wasatch Emerging Markets Small Cap Fund is long-term growth of capital.

Mutual fund investing involves risks and loss of principal is possible. Investing in small cap funds will be more volatile and loss of principal could be greater than investing in large cap or more diversified funds.

Investing in foreign securities, especially in emerging markets, entails special risks such as unstable currencies, highly volatile securities markets and political and social instability, which are described in more detail in the prospectus.

An investor should consider investment objectives, risks, charges, and expenses carefully before investing. To obtain a prospectus, which contains this and other information, click here or call 800.551.1700. Please read it carefully before investing.

Wasatch Funds are distributed by ALPS Distributors, Inc. (ADI) Separately Managed Accounts and related investment advisory services are provided by Wasatch Advisors, a federally regulated Investment Advisor. ADI is not affiliated with Wasatch Advisors. Gene Podsiadlo is a registered principal of ADI.