Company Press Release

Co-Managers Named to Oakmark Select Fund

Two long-time analysts at Harris Associates join Bill Nygren at helm

CHICAGO, Jan. 8, 2013 /PRNewswire/ -- A pair of veteran research analysts at Harris Associates L.P., adviser to The Oakmark Funds, have been appointed to the portfolio management team of the Oakmark Select Fund (OAKLX).

Win Murray and Tony Coniaris will join long-time Oakmark Select portfolio manager Bill Nygren at the helm of the fund effective January 28th. Mr. Nygren has been a manager of Oakmark Select since its inception in 1996. He co-managed the fund with Henry Berghoef from 2000 until Mr. Berghoef's retirement in July 2012 .

"While I expect to be at Oakmark for many more years, we need to think about succession for the funds, and we are fortunate to have so much talent at Harris Associates," says Mr. Nygren. "Win and Tony are both younger than I am, and bringing them in as co-managers now will ensure investment continuity for Select far into the future. They have both had successful careers at Harris Associates, so the investment role is nothing new to them, and they are both already up to speed on the Oakmark Select portfolio."

Mr. Murray, 42, is the director of U.S. equity research and a senior research analyst at Harris Associates. He joined the firm in 2003 after serving as an equity analyst at Colonial Management and Federated Investors and as a portfolio manager at ASB Capital Management. He is a graduate of the University of North Carolina and Georgia State University.

Mr. Coniaris, 36, is a senior research analyst at Harris Associates, which he joined in 1999 as a research associate. He is a graduate of Wheaton College and Northwestern University and is a CFA charterholder.

The Oakmark Select Fund, created in 1996, is a non-diversified fund, typically holding 20 stocks, that invests primarily in mid- and large-cap U.S. companies. The fund's assets under management totaled $3.2 billion as of December 31, 2012.

About The Oakmark Funds

The Oakmark Funds are a family of seven value-oriented mutual funds that invest in equity and fixed-income markets around the world while adhering to a long-term philosophy focusing on capital preservation and risk management. The funds are advised by Harris Associates L.P., based in Chicago. The Oakmark Funds had $45 billion in assets under management as of December 31, 2012.

About Harris Associates L.P.

Harris Associates L.P., based in Chicago since 1976, is a value-oriented investment management company serving individuals, families, institutions and The Oakmark Funds. The firm adheres to a long-term philosophy focusing on capital preservation and risk management. Harris Associates had $76 billion in assets under management as of December 31, 2012.

SOURCE Harris Associates L.P.