Company Press Release

RS Investments Expands Global Natural Resources Team With Addition of Experienced Petroleum Engineer

  San Francisco, September 4, 2013 – RS Investments, a San Francisco-based investment management firm, today announced that Brian Lively has joined the RS Global Natural Resources Team as an equity analyst.

  Brian joins RS Investments with more than 12 years of experience and will be based in the firm's San Francisco headquarters. "As a petroleum engineer and investmentanalyst, Brian brings extensive technical and financial expertise to our team,” said RS Global Natural Resources co-portfolio manager Ken Settles. “His experience in managing oil and gas projects, evaluating oil and gas reserves, and conducting investment research will complement our existing research and risk management efforts.”

  "I am excited to join the RS Global Natural Resources Team," said Brian. "It is an outstanding opportunity to apply my expertise to a team-oriented, debate-driveninvestment process focused on creating value for our partners.”

  The RS Global Natural Resources Team is comprised of seven investment professionals who, on average, have 20 years of investment experience. All investment team members are business analysts, focused on understanding how companies create value over time. RS Investments has been managing global natural resources strategies for more than 18 years. The Firm offers global natural resources strategies as institutional separate accounts and as a mutual fund: RS Global Natural Resources Fund (RSNRX).

  Brian was formerly Managing Director, E&P Research at Tudor, Pickering, Holt & Co., where he served as global head of upstream research, responsible for covering public equities, publishing thematic reports, and managing a team of equity analysts. Previously, Brian was Vice President and Team Leader at Netherland, Sewell & Associates, Inc. and a Senior Project Engineer at Exxon Mobil Corporation. Brian holds a B.S. in petroleum engineering from Louisiana State University and an M.B.A. from the University of Houston.

  About RS Investments

  RS Investments offers investment management solutions for institutional and individual investors and the advisors who serve them. The firm's specialized investmentplatform supports distinct investment teams, each utilizing disciplined and repeatable investment processes to deliver research-driven value, growth and core strategies in U.S. and global equity markets, as well as strategies in global natural resources and fixed income. As of March 2013, RS Investments managed approximately $25 billion on behalf of its clients. The firm was founded in 1986 and is headquartered in San Francisco.

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  RS Funds including the RS Global Natural Resources Fund (RSNRX) are sold by Prospectus only. You should carefully consider the investment objectives, risks, charges, and expenses of the RS Funds before making an investment decision. The Prospectus contains this and other important information. Please read it carefully before investingor sending money. To obtain a copy, please call 800-766-3863 or visit www.rsinvestments.com.

  As with all mutual funds, the value of an investment in the Fund could decline, so you could lose money. Investing in small and mid-size companies can involve risks such as having less publicly available information, higher volatility, and less liquidity than in the case of larger companies. Portfolios that concentrate investments in a certain sector may be subject to greater risk than portfolios that invest more broadly, as companies in that sector may share common characteristics and may react similarly to market developments or other factors affecting their values. Investments in companies in natural resources industries may involve risks including changes in commodities prices, changes in demand for various natural resources, changes in energy prices, and international political and economic developments. Foreign securities are subject to political, regulatory, economic, and exchange-rate risks not present in domestic investments.