Wasatch Advisors(R) Announces: Launch of Emerging Markets Small Cap Fund & Re-Opening of International Growth Fund to All Investors

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Wasatch Advisors announced today the launch of the Wasatch Emerging Markets Small Cap Fund(TM) (WAEMX). The Fund will focus on investing in small companies in emerging markets and will be managed by a team of Wasatch research professionals headed by the Director of International Research, Roger Edgley, CFA. Wasatch also announced today that its International Growth Fund will re-open to all investors.

with the global coverage of the Wasatch research team we are finding an increasing number of interesting international companies in which to invest. We are comfortable accepting limited new assets at this time without jeopardizing our investment strategies.

    The Emerging Markets Small Cap Fund is a natural progression from the Wasatch International Growth Fund (WAIGX, previously closed to new investors) and the Wasatch International Opportunities Fund (WAIOX, currently closed to all investors). "Like all Wasatch Funds, this Emerging Markets Small Cap Fund will rely upon our trademark fundamental investment process that includes deep due diligence and multiple eyes(TM) collaboration" says Roger Edgley. "As we travel the globe looking for the World's Best Growth Companies(1) we are increasingly finding interesting and under-followed small companies in emerging markets."

Mr. Edgley goes on to explain, "This Fund helps to fill an important gap for investors by investing in lesser known companies that are part of the increasingly global economy. There are currently very few Emerging Market funds focused specifically on small cap companies and we believe we can add real value for shareholders in this space as we apply our expertise in evaluating these small, dynamic companies."

Due to the limited investments available in emerging market small cap companies, we believe it may become necessary to limit the assets under management in the Fund at some point.

Also announced today was the re-opening of the Wasatch International Growth Fund(R) (WAIGX) to all investors. This fund has been closed to new investors since October of 2005. Portfolio manager Laura Hoffman said "with the global coverage of the Wasatch research team we are finding an increasing number of interesting international companies in which to invest. We are comfortable accepting limited new assets at this time without jeopardizing our investment strategies."

Wasatch will continue to carefully monitor assets in all funds, and will move quickly to close funds whenever a Portfolio Manager has a concern that additional assets could impact the investment strategies of their fund.

About Wasatch Advisors

Wasatch Advisors, Inc. is an employee-owned investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Wasatch Advisors is the investment manager to Wasatch Funds(R), a family of no-load mutual funds, as well as separately managed institutional and individual portfolios. Wasatch Advisors pursues a disciplined approach to investing, focused on bottom-up, fundamental analysis to develop a deep understanding of the investment potential of individual companies. The Portfolio Managers employ a uniquely collaborative multiple eyes process to leverage the knowledge and skill of the entire Wasatch Advisors research team in making investment decisions. Founded in 1975 and headquartered in Salt Lake City, Wasatch Advisors has roughly $9 billion under management as of August 31, 2007.

(1)Wasatch Advisors defines the World's Best Growth Companies(R) (WBGCs) as companies that we believe possess an identifiable, sustainable competitive advantage, are very well managed, undervalued and are producing above average earnings growth relative to their industry and country of origin.

Investing in foreign securities entails special risks, such as currency fluctuations and political uncertainties, which are described in more detail in the prospectus. Investments in emerging markets are subject to the same risks as other foreign securities and will be subject to greater risks than investments in foreign countries with more established economies and securities markets.

Investing in small cap funds will be more volatile and loss of principal could be greater than investing in large cap funds.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, visit http://www.wasatchfunds.com or call 800.551.1700. Please read it carefully before investing.

Wasatch Funds are distributed by ALPS Distributors, Inc. Wasatch Advisors, Inc. is not affiliated with ALPS Distributors, Inc.

WAS000672 10/31/2007

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