Morningstar Ratings™ (Class A) as of 6/30/08 Ratings are based on risk-adjusted returns and are historical and do not represent future results. The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics.
Fund Name - Morningstar Category (Inception Date)	Overall	3 Year	5 Year	10 Year
GROWTH FUNDS
Emerging Growth - Small Growth Category (11/30/87)
without sales charge	out of 705	out of 705	out of 571	out of 273
including the effect of sales charges, loads, and redemption fees	out of 705	out of 705	out of 571	out of 273
Smaller Company Growth - Small Growth Category (8/15/96)
without sales charge	out of 705	out of 705	out of 571	out of 273
including the effect of sales charges, loads, and redemption fees	out of 705	out of 705	out of 571	out of 273
Select Growth - Small Growth Category (8/1/96)
without sales charge	out of 705	out of 705	out of 571	out of 273
including the effect of sales charges, loads, and redemption fees	out of 705	out of 705	out of 571	out of 273
MidCap Opportunities - Mid-Cap Growth Category (7/12/95)
without sales charge	out of 813	out of 813	out of 684	out of 325
including the effect of sales charges, loads, and redemption fees	out of 813	out of 813	out of 684	out of 325
Growth - Large Growth Category (5/12/92)
without sales charge	out of 1,488	out of 1,488	out of 1,215	out of 589
including the effect of sales charges, loads, and redemption fees	out of 1,488	out of 1,488	out of 1,215	out of 589
Technology - Specialty-Technology Category (11/15/95)
without sales charge	out of 257	out of 257	out of 229	out of 76
including the effect of sales charges, loads, and redemption fees	out of 257	out of 257	out of 229	out of 76
VALUE FUNDS
Partners - Small Blend Category (7/12/95)
without sales charge	out of 549	out of 549	out of 429	out of 185
including the effect of sales charges, loads, and redemption fees	out of 549	out of 549	out of 429	out of 185
Value - Mid-Cap Blend Category (6/30/93)
without sales charge	out of 410	out of 410	out of 323	out of 152
including the effect of sales charges, loads, and redemption fees	out of 410	out of 410	out of 323	out of 152
Investors - Mid-Cap Blend Category (11/15/05)
without sales charge	Too new for star rating	Too new for star rating	Too new for star rating	Too new for star rating
including the effect of sales charges, loads, and redemption fees	Too new for star rating	Too new for star rating	Too new for star rating	Too new for star rating
Global Natural Resources - Specialty-Natural Resources Category (11/15/95)
without sales charge	out of 153	out of 153	out of 101	out of 69
including the effect of sales charges, loads, and redemption fees	out of 153	out of 153	out of 101	out of 69
Large Cap Value - Large Value Category (2/3/03)
without sales charge	out of 1,183	out of 1,183	out of 928	n/a
including the effect of sales charges, loads, and redemption fees	out of 1,183	out of 1,183	out of 928	n/a
CORE EQUITY FUNDS
Small Cap Core Equity - Small Growth Category (5/1/97)
without sales charge	out of 705	out of 705	out of 571	out of 273
including the effect of sales charges, loads, and redemption fees	out of 705	out of 705	out of 571	out of 273
Core Equity - Large Blend Category (6/1/72)
without sales charge	out of 1,715	out of 1,715	out of 1,325	out of 660
including the effect of sales charges, loads, and redemption fees	out of 1,715	out of 1,715	out of 1,325	out of 660
Equity Dividend - Mid-Cap Value Category (7/31/07)
without sales charge	Too new for star rating	Too new for star rating	Too new for star rating	Too new for star rating
including the effect of sales charges, loads, and redemption fees	Too new for star rating	Too new for star rating	Too new for star rating	Too new for star rating
INTERNATIONAL FUNDS
International Growth - Foreign Large Growth Category (2/16/93)
without sales charge	out of 182	out of 182	out of 157	out of 75
including the effect of sales charges, loads, and redemption fees	out of 182	out of 182	out of 157	out of 75
Emerging Markets - Diversified Emerging Markets Category (5/1/97)
without sales charge	out of 217	out of 217	out of 189	out of 110
including the effect of sales charges, loads, and redemption fees	out of 217	out of 217	out of 189	out of 110
FIXED INCOME FUNDS
Investment Quality Bond - Intermediate-Term Bond Category (2/16/93)
without sales charge	out of 990	out of 990	out of 831	out of 438
including the effect of sales charges, loads, and redemption fees	out of 990	out of 990	out of 831	out of 438
Low Duration Bond - Short-Term Bond Category (7/30/03)
without sales charge	out of 381	out of 381	n/a	n/a
including the effect of sales charges, loads, and redemption fees	out of 381	out of 381	n/a	n/a
High Yield Bond - High Yield Bond Category (9/1/98)
without sales charge	out of 476	out of 476	out of 413	n/a
including the effect of sales charges, loads, and redemption fees	out of 476	out of 476	out of 413	n/a
Tax-Exempt - Muni National Long Category (2/16/93)
without sales charge	out of 257	out of 257	out of 248	out of 204
including the effect of sales charges, loads, and redemption fees	out of 257	out of 257	out of 248	out of 204
S&P 500 INDEX FUND
S&P 500 Index - Large Blend Category (8/15/96)
without sales charge	out of 1,715	out of 1,715	out of 1,325	n/a
including the effect of sales charges, loads, and redemption fees	out of 1,715	out of 1,715	out of 1,325	n/a
ASSET ALLOCATION FUND
Asset Allocation - Large Blend Category (2/16/93)
without sales charge	out of 1,715	out of 1,715	out of 1,325	out of 660
including the effect of sales charges, loads, and redemption fees	out of 1,715	out of 1,715	out of 1,325	out of 660

Please Note: Without sales charge rating for Class A shares should only be considered by investors who are not subject to a front-end sales charge.

Lipper Rankings (Class A) as of 6/30/08 Lipper rankings are based on total return with dividends reinvested and do not take into account sales charges. Quartiles and rankings are based on total return and are historical and do not represent future results.
Fund Name (Inception Date)	Lipper Category	1 Year	3 Year	5 Year	10 Year
GROWTH FUNDS
Emerging Growth (11/30/87)	Small Cap Growth	#310 out of 604	#269 out of 486	#241 out of 400	#76 out of 192
Smaller Company Growth (8/15/96)	Small Cap Growth	#531 out of 604	#439 out of 486	#272 out of 400	#73 out of 192
Select Growth (8/1/96)	Small Cap Growth	#111 out of 604	#204 out of 486	#288 out of 400	#37 out of 192
MidCap Opportunities (7/12/95)	Mid Cap Growth	#498 out of 596	#335 out of 501	#238 out of 408	#61 out of 181
Growth (5/12/92)	Multi Cap Growth	#386 out of 493	#231 out of 374	#113 out of 314	#74 out of 135
Technology (11/15/95)	Science & Tech	#58 out of 108	#64 out of 102	#27 out of 90	#3 out of 27
VALUE FUNDS
Partners (7/12/95)	Small Cap Core	#295 out of 786	#258 out of 628	#45 out of 486	#15 out of 193
Value (6/30/93)	Mid Cap Value	#38 out of 343	#33 out of 270	#7 out of 209	#6 out of 65
Investors (11/15/05)	Mid Cap Core	#160 out of 333	n/a	n/a	n/a
Global Natural Resources (11/15/95)	Natural Resources	#53 out of 94	#45 out of 65	#33 out of 49	#20 out of 32
Large Cap Value (2/3/03)	Large Cap Value	#370 out of 551	#291 out of 478	#193 out of 392	n/a
CORE EQUITY FUNDS
Small Cap Core Equity (5/1/97)	Small Cap Core	#355 out of 786	#217 out of 628	#313 out of 486	#154 out of 193
Core Equity (6/1/72)	Large Cap Core	#51 out of 817	#3 out of 692	#52 out of 574	#232 out of 323
Equity Dividend (7/31/07)	Small Cap Core	Too new for ranking	Too new for ranking	Too new for ranking	Too new for ranking
INTERNATIONAL FUNDS
International Growth (2/16/93)	International	#28 out of 77	#20 out of 60	#17 out of 56	#17 out of 31
Emerging Markets (5/1/97)	Emerging Markets	#69 out of 280	#27 out of 200	#21 out of 172	#18 out of 97
FIXED INCOME FUNDS
Investment Quality Bond (2/16/93)	Intermediate Investment	#196 out of 557	#172 out of 464	#150 out of 393	#55 out of 189
Low Duration Bond (7/30/03)	Short Investment Grade	#40 out of 263	#52 out of 212	n/a	n/a
High Yield Bond (9/1/98)	High Current Yield	#335 out of 460	#302 out of 387	#238 out of 339	n/a
Tax-Exempt (2/16/93)	General Municipal	#77 out of 235	#86 out of 220	#59 out of 210	#8 out of 153
Money Market (11/3/82)	Money Market	#227 out of 337	#186 out of 310	#178 out of 293	#130 out of 192
S&P 500 INDEX FUND
S&P 500 Index (8/7/00)	S&P Index	#125 out of 185	#100 out of 171	#92 out of 153	n/a
ASSET ALLOCATION FUND
Asset Allocation (2/16/93)	Flexible Portfolio	#137 out of 145	#90 out of 101	#75 out of 91	#50 out of 55

© 2008 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 is responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results.

Please note, some of the Morningstar proprietary calculations, including the Morningstar Rating™ are not customarily calculated based on adjusted historical returns. The evaluation of this investment does not affect the retail mutual fund data published by Morningstar. For each retail mutual fund with at least three-year history, Morningstar calculates a Morningstar Rating™ based on 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 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.) The Overall Morningstar Rating for a retail mutual fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. This investment's independent Morningstar Rating metric is then compared against the retail mutual fund universe breakpoints to determine its hypothetical rating.

Performance quoted represents past performance and does not guarantee future results.

© 2008 REUTERS. Lipper rankings are based on total return with dividends reinvested and do not take into account or reflect sales charges. Lipper, a wholly owned subsidiary of Reuters, is a leading global provider of mutual fund information and analysis to fund companies, financial intermediaries, and media organizations. Lipper clients manage more than 95% of U.S. fund assets. The firm, founded in 1973 and headquartered in New York, tracks 125,000 funds worldwide through its offices in major financial capitals in North America, Europe, and Asia. Read the following Restrictions: Information on this page has been sourced from Lipper, a Reuters Company ("Lipper Content"). All such information is protected by copyright: © 2008 REUTERS. All rights reserved. Any copying, republication or redistribution of Lipper Content is expressly prohibited without the prior written consent of Lipper. Lipper and its parent and affiliated companies will not be liable for any errors or delays in the content, or for any actions taken in reliance theron. LIPPER and the LIPPER Corporate Marks are proprietary trademarks of Lipper, a Reuters Company. For additional information on the other Lipper Services, please visit the Lipper Web site at http://www.lipperweb.com.

The information contained herein was obtained from sources we believe to be reliable and we have attempted to insure accuracy. Investors relying on information contained herein are encouraged to verify this information directly with the rating agency or through independent sources.

Market volatility can affect short-term performance. Favorable ratings do not necessarily indicate positive returns. Please visit www.RSinvestments.com/funds/navs.html for the most up to date performance information on the RS Funds.