Henderson Global Investors Announces Lower Expense Ratios on International Funds; Company's Mutual Funds in U.S. Top $1 Billion in AUM

Business Wire, Oct 10, 2005

CHICAGO -- Henderson Global Investors (North America) Inc., the investment management company, is reporting lower expense ratios for two of its international mutual funds sold in the U.S. The expense ratios for Class A shares of both Henderson's European Focus Fund and International Opportunities Fund have decreased as assets have rapidly increased, and are now 1.58% and 1.68%, respectively (as of August 31, 2005).(1)

In addition, Henderson(2) today announced that as of September 20, 2005, its aggregated U.S. mutual fund assets surpassed $1 billion, approximately a 264% increase over the same period in the prior year. Worldwide, the London-headquartered company manages $119.3 billion(3) (as of 6/30/05), and has a strong presence in Europe and Asia.

Henderson launched its U.S. mutual fund family in August 2001, which today consists of five load mutual funds: International Opportunities Fund; European Focus Fund; Global Technology Fund; U.S. Core Growth Fund; and Income Advantage Fund. For the three-year period ended August 31, 2005, Morningstar, Inc. rated the International Opportunities Fund five stars overall (rated against 411 Foreign Large Blend funds) and two of the funds four stars overall, specifically the European Focus Fund (rated against 86 European stock funds) and the Global Technology Fund (rated against 246 Specialty Technology funds). The Overall Morningstar Rating for the Funds are derived from a weighted average of the risk-adjusted performance figure associated with their 3 year Morningstar Rating metrics.(4)

About Henderson Global Investors

Henderson Global Investors is a leading investment manager, providing a wide range of investment products and services to institutions and individuals in Asia, Europe and North America. Henderson manages over $119.3 billion(1) (as of 6/30/05) in assets and employs more than 900 people around the world. Henderson Global Investors (North America) Inc. was established in 1999 when Henderson acquired Phoenix Realty Advisors. Today, the company has both retail and institutional distribution capabilities for property, listed equities and high yield fixed income products. The first Henderson Global Funds - European Focus, Global Technology and International Opportunities - were launched on August 31, 2001, to provide mutual fund investors with exposure to Henderson's expertise in global asset management.

Before investing, you should carefully consider the Funds' investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained for free by calling 1.866.443.6337 or visiting the Funds' website at www.hendersonglobalinvestors.com. Please read the prospectus carefully before you invest.

(1) These ratios are not guaranteed numbers and may fluctuate. Expense ratios are presented as a percentage of each Fund's average net assets. Expense ratios are unaudited and are based on annualized fiscal year-to-date results from 8/01/05 to 8/31/05. Ratios will differ from those presented in the Funds' prospectus that are based on the Funds' then most recent previous fiscal year.

(2) Henderson and Henderson Global Investors are names under which various subsidiaries of Henderson Group plc, a UK limited company, provide investment products and services.

(3) The $119.3 billion references Henderson's assets under management as of 6/30/05 which are comprised of discretionary, non-discretionary and other assets.

(4) Overall Morningstar(R) Rating(TM) as of 8/31/05. For each fund with at least a three-year history Morningstar calculates a Morningstar Rating(TM) based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Rating is for Class A only; other share classes may vary. (C) 2005 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

International investing involves certain risks and increased volatility not associated with investing solely in the U.S. These risks include currency fluctuations, economic or financial instability, lack of timely or reliable financial information or unfavorable political or legal developments. Except for the US Core Growth Fund, the Funds (i) are non-diversified meaning they may invest in a limited geographic area or in a smaller number of issuers thus exhibiting greater risk and volatility than investing in a more diversified fund and (ii) may also invest in securities issued by smaller companies, which typically involves greater risk than investing in larger companies. The Income Advantage Fund invests in high yield, lower rated (junk) bonds which involve a greater degree of risk than investment grade bonds in return for higher yield potential. As such, securities rated below investment grade generally entail greater credit, market, issuer and liquidity risk than investment grade securities. Moreover, the Fund is subject to interest rate risk which is the risk that debt securities in the Fund's portfolio will decline in value because of increases in market interest rates. Foreside Fund Services, LLC, Distributor (10/05).