2009 Year-End Fund Distributions 12/17/2009 Fund Distributions | Accessing Your Account The Oakmark Funds declare 2009 year-end distributions for the Funds. The dates for these distributions and the per-share distribution amounts are as follows: Record date: Wednesday, December 16, 2009 Ex-dividend date: Thursday, December 17, 2009 Reinvestment date: Thursday, December 17, 2009 Please note that each Fund's closing net asset value (NAV) on Thursday, December 17, 2009, will be reduced by the amount of the distribution, plus or minus any market activity for the day. Per-share distribution information Fund Income Dividend Short-Term Capital Gain Long-Term Capital Gain Total Foreign Tax Credit Oakmark 0.2324 0.0000 0.0000 0.2324 0.0000 Oakmark Select 0.0722 0.0000 0.0000 0.0722 0.0000 Oakmark Equity and Income 0.2934 0.0000 0.0000 0.2934 0.0000 Oakmark Global 0.1382 0.0000 0.0000 0.1382 0.0217 Oakmark Global Select 0.0386 0.0000 0.0000 0.0386 0.0087 Oakmark International 0.1172 0.0000 0.0000 0.1172 0.0284 Oakmark International Small Cap 0.1643 0.0000 0.0000 0.1643 0.0190 You can view Historical Distributions for information from previous years.   Investing in value stocks presents the risk that value stocks may fall out of favor with investors and underperform growth stocks during given periods. Investing in foreign securities presents risks that in some way may be greater than U.S. investments. Those risks include: currency fluctuation; different regulation, accounting standards, trading practices and levels of available information; generally higher transaction costs; and political risks. The stocks of smaller companies often involve more risk than the stocks of larger companies. Stocks of small companies tend to be more volatile and have a smaller public market than stocks of larger companies. Small companies may have a shorter history of operations than larger companies, may not have as great an ability to raise additional capital and may have a less diversified product line, making them more susceptible to market pressure. Oakmark Equity and Income invests in medium- and lower-quality debt securities that have higher yield potential but present greater investment and credit risk than higher-quality securities. These risks may result in greater share price volatility. An economic downturn could severely disrupt the market in medium or lower grade debt securities and adversely affect the value of outstanding bonds and the ability of the issuers to repay principal and interest. Because Oakmark Select and Oakmark Global Select are non-diversified, the performance of each holding will have a greater impact on the funds' total returns, and may make the funds' returns more volatile than a more diversified fund.