THE OAKMARK FUNDS

Trustees

    Gary N. Wilner, M.D.—Chairman
    Michael J. Friduss
    Thomas H. Hayden
    Christine M. Maki
    John R. Raitt
    Allan J. Reich
    Steven S. Rogers
    Marv R. Rotter
    Burton W. Ruder
    Peter S. Voss

Officers

    John R. Raitt—President
    Robert M. Levy—Executive Vice President
    Henry R. Berghoef—Vice President
    Chad M. Clark—Vice President
    Richard J. Gorman—Vice President and Assistant Secretary
    Kevin G. Grant—Vice President
    David G. Herro—Vice President
    John J. Kane—Treasurer
    Clyde S. McGregor—Vice President
    William C. Nygren—Vice President
    Vineeta D. Raketich—Vice President
    Janet L. Reali—Vice President and Secretary
    Kristi L. Rowsell—Vice President
    Edward A. Studzinski—Vice President
    Robert A. Taylor—Vice President
    Christopher P. Wright—Vice President

Other Information

Investment Adviser
    Harris Associates L.P.
    Two North LaSalle Street
    Chicago, Illinois 60602-3790

Transfer Agent
    Boston Financial Data Services, Inc.
    Quincy, Massachusetts

Legal Counsel
    Bell, Boyd & Lloyd LLC
    Chicago, Illinois

Independent Registered Public Accounting Firm
    Deloitte & Touche LLP
    Chicago, Illinois

For More Information
    Please call 1-800-OAKMARK
    (1-800-625-6275)
    or 617-483-3250

To obtain a prospectus, an application or periodic reports, access our web site at oakmark.com, or call 1-800-OAKMARK (1-800-625-6275) or (617) 483-3250.

The Funds will file its complete schedule of portfolio holdings with the Securities and Exchange Commission (the "SEC") for the first and third quarters of each fiscal year on Form N-Q. The Funds' Forms N-Qare available on the SEC's website at www.sec.gov. The Funds' Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC, and information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

A description of the policies and procedures the Funds use to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling toll-free 1-800-625-6275; on the Funds' website at oakmark.com; and on the SEC's website at www.sec.gov.

No later than August 31 of each year, information regarding how the Adviser, on behalf of the Funds, voted proxies relating to the Funds' portfolio securities for the twelve months ended the preceding June 30 will be available through a link on the Funds' website at oakmark.com and on the SEC's website at www.sec.gov.

This report is submitted for the general information of the Funds' share holders. The report is not authorized for distribution to prospective investors in the Funds unless it is accompanied or preceded by the Funds' currently effective prospectus.