Waddell & Reed, Ivy Funds Ranked at Top of Barron's List of "Best Mutual Fund Families of 2007"

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Waddell & Reed Advisors Funds and Ivy Funds are featured prominently in the list of "Best Mutual Fund Families of 2007," as ranked and published by Barron's. According to the newspaper, Waddell & Reed Advisors Funds were the top ranked fund family, and Ivy Funds ranked number eight. A total of 67 fund families were ranked.

February 18, 2008- As it states in the article, "Waddell & Reed rode strong showings in all five categories to victory…" Barron's rankings are based on asset-weighted returns in five categories: domestic equity, world equity (including international and global portfolios), mixed equity (stocks and bonds), taxable bonds and tax exempt funds. Rankings also take into account an individual fund's performance within its Lipper peer group.

"Our clients understand that financial planning is a long-term commitment supported by quality investment products, which we are pleased to provide to them in the Waddell & Reed Advisors Funds and the Ivy Funds," said Marc Dobb, who manages the Wyomissing Waddell & Reed office in Reading, one of several within the region.

According to the article, over the most recent 5-years, Waddell & Reed ranked #23 and Ivy Funds ranked # 7. Over the most recent 10 years, Waddell & Reed ranked 9th and Ivy Funds ranked 15th. Both fund families consistently ranked in the top third or better for all periods measured.

The further category breakdown for the Waddell & Reed Advisors family includes U.S. Equity, ranked #4; World Equity ranked #1; Mixed Equity ranked #2; Taxable Bond ranked #16; U.S. Tax-Exempt Bond ranked #7. The further category breakdown for the Ivy Funds (listed as Ivy Investments) includes U.S. Equity, ranked #8; World Equity, ranked #20; Mixed Equity, ranked #3; Taxable Bond, ranked #51; U.S. Tax-Exempt Bond, ranked #31.

"We never lose sight of the idea that we are managing other people's money, and it is gratifying to see validation of our long-term approach," said Henry J. Herrmann, CEO of Waddell & Reed Financial Inc. "This kind of ranking points to the strength and depth of our investment team and of each of our fund families."

Both the Waddell & Reed Advisors and Ivy Fund families offer a broad fund lineup covering all major asset categories, including international and domestic equity funds, specialty funds, fixed income funds and money market funds. The Ivy Funds were named the second fastest growing fund family in 2007, among families with at least $5 billion in total assets under management, according to Financial Research Corporation (FRC).

To qualify for the Lipper/Barron's Fund Survey, a fund group must have at least three funds in Lipper's general U.S.-stock category, as well as one in world equity, which combines global and international funds. They also required at least one mixed-equity fund, which holds both stocks and bonds. Fund shops must also then have at least two taxable bond funds and one tax-exempt offering. For a complete discussion of the ranking methodology, visit the link above.

Founded in 1937, Waddell & Reed has today grown to more than 500 registered offices nationwide. The company offers a wide array of investment products and services, as well as a variety of insurance products through arrangements with outside insurance companies. For more information about Waddell & Reed, or about financial services in general, contact Suzanne Lake or Merra Lee Moffitt, District Supervisor, at 610-374-6249.

Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. For a prospectus containing this and other information for any of the Waddell & Reed Advisors or Ivy Funds, call your financial advisor or visit http://www.waddell.com. Please read the prospectus carefully before investing.

Investment return and principal value will fluctuate, and it is possible to lose money by investing.

Waddell & Reed, Inc. and Ivy Funds Distributor, Inc. distribute the Waddell & Reed Advisor funds and the Ivy Funds, respectively.

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MERRA LEE MOFFITT
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