The Oakmark Funds consider the preservation of our shareholders’ privacy a priority. In order to provide individualized service, we collect certain non-public personal information about our shareholders, such as your address, social security number, purchases, sales, account balances and bank account information. We collect this information from the following sources:

• Applications or other forms on which you provide non-public personal information;
• Shareholder communications effected by mail, e-mail, the telephone and our website; and
• Shareholder transactions and account inquiries;
  

We also may obtain non-public personal information about our shareholders who maintain their accounts at financial intermediaries. We may disclose any of the non-public personal information described above that we collect about any current or former shareholder to anyone only as permitted or required by law or as permitted by the shareholder pursuant to a written consent. Specifically, so that we can complete transactions you authorize or request, we may disclose non-public personal information to the following entities:

• Our financial service providers, such as our investment adviser, transfer agent and custodian;
• Our non-financial service providers that provide administrative, legal or accounting services, such as our printers and mailers who assist us in the distribution of investor materials or our lawyers and accountants; and
• Our affiliates.

Information Shared. The information we collect, as described above, may be shared with our affiliates in order to enhance and improve customer communications, services, and products designed to meet our customers’ needs. We do not sell any nonpublic, personal information about shareholders or former shareholders to anyone and do not disclose it to any unaffiliated third parties except as permitted or required by law, or at the specific request of the shareholder. We may disclose some or all of the above information to affiliated and unaffiliated companies that perform certain administrative and marketing services (such as preparing and mailing prospectuses, reports and account statements, and providing custodial services) on the Funds’ or a shareholder’s behalf.

For further protection, we maintain strict internal security measures. We restrict access to shareholder personal and account information to those employees who need to know that information to service that account. We also maintain physical, electronic and procedural safeguards that comply with federal standards to guard non-public personal information. We will continue to adhere to these privacy policies and practices even after an account is closed or becomes inactive.

For questions about our policy, or for additional copies of this notice, please send us an e-mail using the "Contact Us" link, write to us at P.O. Box 219558, Kansas City, MO 64121-9558, or call us at 800-625-6275.

Very truly yours,

The Oakmark Funds