Updated December 20th, 2007 The following table provides final 2007 year-end Fund distributions per share.

2007 FINAL DISTRIBUTIONS (Dollars Per Share)   Ordinary Income (per share) Short-Term Capital Gain (per share) Long-Term Capital Gain (per share) Total Distribution (per share) GROWTH FUNDS RS Growth Fund - Class A $0.0039 $0.8898 $1.9101 $2.8038 RS Growth Fund - Class C and K $0.0000 $0.8898 $1.9101 $2.7999 RS Growth Fund - Class Y $0.0598 $0.8898 $1.9101 $2.8597 RS Technology Fund - Class A, C, K, and Y $0.0000 $0.6838 $1.1801 $1.8639 RS MidCap Opportunities Fund - Class A, C, K and Y $0.0000 $1.5378 $0.9184 $2.4562 RS Smaller Company Growth Fund - Class A, K, and Y $0.0000 $0.8464 $0.7614 $1.6078 VALUE FUNDS RS Value Fund - Class A $0.1111 $0.8813 $1.1851 $2.1775 RS Value Fund - Class C $0.0852 $0.8813 $1.1851 $2.1516 RS Value Fund - Class K $0.0309 $0.8813 $1.1851 $2.0973 RS Value Fund - Class Y $0.2091 $0.8813 $1.1851 $2.2755 RS Partners Fund - Class A $0.1179 $0.5992 $2.1697 $2.8868 RS Partners Fund - Class K $0.0135 $0.5992 $2.1697 $2.7824 RS Partners Fund - Class Y $0.2731 $0.5992 $2.1697 $3.0420 RS Investors Fund - Class A, C, K, and Y $0.0000 $1.0985 $0.9427 $2.0412 RS Global Natural Resources Fund - Class A $0.0028 $0.2626 $2.4117 $2.6771 RS Global Natural Resources Fund - Class C and K $0.0000 $0.2626 $2.4117 $2.6743 RS Global Natural Resources Fund - Class Y $0.1159 $0.2626 $2.4117 $2.7902 RS Large Cap Value Fund - Class A $0.1543 $0.1621 $1.7057 $2.0221 RS Large Cap Value Fund - Class B $0.0347 $0.1621 $1.7057 $1.9025 RS Large Cap Value Fund - Class C $0.0353 $0.1621 $1.7057 $1.9031 RS Large Cap Value Fund - Class K $0.0869 $0.1621 $1.7057 $1.9547 CORE EQUITY FUNDS RS Core Equity Fund - Class A $0.2238 $0.0000 $0.0000 $0.2238 RS Core Equity Fund - Class K $0.0357 $0.0000 $0.0000 $0.0357 RS Core Equity Fund - Class Y $0.3508 $0.0000 $0.0000 $0.3508 RS Small Cap Core Equity Fund - Class A $0.0546 $1.4281 $2.9542 $4.4369 RS Small Cap Core Equity Fund - Class B, C, and K $0.0000 $1.4281 $2.9542 $4.3823 RS Small Cap Core Equity Fund - Class Y $0.1247 $1.4281 $2.9542 $4.5070 RS Equity Dividend Fund - Class A, C, K, and Y* $0.0000 $0.0479 $0.0003 $0.0482 RS S&P 500 Index Fund - Class A $0.1618 $0.0000 $0.0000 $0.1618 RS S&P 500 Index Fund - Class B $0.0774 $0.0000 $0.0000 $0.0774 RS S&P 500 Index Fund - Class C $0.0783 $0.0000 $0.0000 $0.0783 RS S&P 500 Index Fund - Class K $0.1064 $0.0000 $0.0000 $0.1064 INTERNATIONAL FUNDS RS International Growth Fund - Class A $0.5056 $0.0000 $0.0000 $0.5056 RS International Growth Fund - Class B $0.3637 $0.0000 $0.0000 $0.3637 RS International Growth Fund - Class C $0.3866 $0.0000 $0.0000 $0.3866 RS International Growth Fund - Class K $0.4263 $0.0000 $0.0000 $0.4263 RS Emerging Markets Fund - Class A $0.3452 $0.6760 $2.7620 $3.7832 RS Emerging Markets Fund - Class B $0.1661 $0.6760 $2.7620 $3.6041 RS Emerging Markets Fund - Class C $0.1949 $0.6760 $2.7620 $3.6329 RS Emerging Markets Fund - Class K $0.2225 $0.6760 $2.7620 $3.6605 ASSET ALLOCATION FUND RS Asset Allocation Fund - Class A $0.1927 $0.0000 $0.0000 $0.1927 RS Asset Allocation Fund - Class B $0.0599 $0.0000 $0.0000 $0.0599 RS Asset Allocation Fund - Class C $0.0952 $0.0000 $0.0000 $0.0952 RS Asset Allocation Fund - Class K $0.1345 $0.0000 $0.0000 $0.1345

Record Date: December 19^th
Ex-Dividend Date: December 20^th
Pay Date: December 21^st


Important Note: The RS Funds are intended as long-term investment vehicles and are not intended for short-term trading. Each Fund reserves the right in its discretion to reject any purchase, in whole or in part (including, without limitation, purchases by persons whose trading activity in Fund shares RS Investments believes could be harmful to a Fund).

* RS Equity Dividend Fund will distribute any net investment income at the end of December, as regularly scheduled.