'Buffalo Growth Fund' Replaces 'USA Global' Fund Name To Enhance Clarity of Goals

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Buffalo Growth Fund is new name for USA Global effective July 31, 2009

In order to accurately reflect the true nature of the mission of the fund, Buffalo Funds announces it is changing the name of its USA Global Fund (BUFGX) to Buffalo Growth (BUFGX) on July 31, 2009.

"The Buffalo Growth name will allow us to more accurately depict our focus on U.S. companies that are aggressively pursuing global markets with their established American brands.," Kent Gasaway, Buffalo Funds president and portfolio manager, said. "The word 'global' in the title of the fund was confusing to some who thought the fund contained non-U.S.-based companies."

The name change also reflects a broadening of the management philosophy for the fund. Until now, the USA Global Fund only invested in companies that derived at least 40 percent of their revenues or pre-tax income from international operations. That threshold has been removed, allowing the fund to research, and potentially invest in, US companies that are earlier in the process of international expansion.

"We have been seeing per-capita gross domestic product (GDP) going up in India, China, Russia, Brazil - actually all around the world. As that happens, there's a growing ability for the people in those countries to spend and buy the kind of things that we buy and take for granted in the US, from fast food to personal care products to pharmaceuticals to luxuries," said Gasaway.

"That's what gets us so excited about our companies in this fund." The overall strategy the fund managers use will not change dramatically with the new name, as they want to continue to build on the discipline that has worked well for them in the past. The portfolio managers consider US companies in all market caps and all sectors, looking for companies and products that are underpenetrated on a global basis - in the US, Europe or an emerging market.

As of June 30, 2009, USA Global Fund ranked as follows in the Morningstar large growth funds peer group rankings based on total returns:

  •      Top 6% for 10 years out of 663 funds
  •      Top 27% for 5 years out of 1,294 funds
  •      Top 10% for three years out of 1,565 funds
  •      Top 8% for one year out of 1,839 funds

Please see attachment Average Annualized Total Returns as of June 30, 2009

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Investment performance, current to the most recent month-end, may be lower or higher than the performance quoted, and can be obtained by calling 1-800-49- BUFFALO or by visiting http://www.buffalofunds.com. Performance data quoted does not reflect the 2.0% redemption fee imposed on shares held less than 60 days. If reflected, total return would be reduced.

The old track record is applicable because the fund will be managed with essentially the same objective it always had: looking for US companies poised to benefit from global growth. The new Growth label is applicable since hundreds of millions of people in developing nations have begun migrating out of poverty and into a new, emerging middle class. This steady expansion of discretionary income among this new middle-class population has launched a surge in demand for products U.S. companies may be uniquely prepared to deliver.

About Buffalo Funds
For more information on Buffalo Funds, investors can call 1-800-49-BUFFALO.

Financial advisors can visit the advisor-only Web site at http://www.buffalofunds.com/financialadvisors. Individual investors can visit http://www.buffalofunds.com.

Morningstar, Inc., is an independent mutual fund research and rating service. Each Morningstar category represents a universe of funds with similar investment objectives. Rankings for the periods shown are based on fund total returns with dividends and distributions reinvested and do not reflect sales charges. The highest percentile rank is 1 and the lowest is 100.

© 2009 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (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.

The Russell 1000 Growth Index measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values. One cannot invest directly in an index.

The Funds' investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-800- 49-BUFFALO or visiting http://www.buffalofunds.com. Read it carefully before investing.

Mutual fund investing involves risk. Principal loss is possible. The Fund invests in U.S. based companies with substantial interests outside of the U.S. which may involve additional risk such as greater volatility and political, economic and/or currency risks.

The Buffalo Funds are distributed by Quasar Distributors, LLC.


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Tom Heapes
Trozzolo Communications Group
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