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Tuesday, July 1, 2008

Aberdeen Officially Enters U.S. Fund Business

by: Erin Kello

Aberdeen has put the finishing touches on its acquisition of Nationwide Funds. The company now has 26 mutual funds that will be known as the Aberdeen Funds.

Company Press Release

WEST CONSHOHOCKEN, Pa., July 1 /PRNewswire/ -- Aberdeen Asset Management Inc. (Aberdeen) today announced the completion of the reorganization of 26 Nationwide Funds, representing approximately $2.2 billion in assets under management, into newly created Aberdeen Funds.

This was the final step in a two-step transaction that began in October 2007 with Aberdeen's acquisition of Nationwide Fund Advisors' active equity investment management business. Since that time, Aberdeen has been acting as subadviser to a majority of the 26 reorganized Nationwide Funds.

"Aberdeen's acquisition of the 26 Nationwide Funds provides an established mutual fund platform for us to build on and to offer a wide range of mutual fund offerings, managed by highly regarded investment teams, to the US market-place," said Martin Gilbert, Chief Executive Officer of Aberdeen Asset Management PLC, parent company of Aberdeen.

"We are very happy that we were able to provide a seamless transition for shareholders since the same portfolio managers and other investment professionals that provided day-to-day portfolio management for the 26 Nationwide Funds (except for Nationwide Tax-Free Income Fund) will continue to provide day-to-day portfolio management of the corresponding Aberdeen Funds," said Vincent Esposito, Head of North American Mutual Funds for Aberdeen.

On June 1, 2008, Aberdeen Asset Management PLC celebrated its 25th anniversary in the asset management business. Over the past 25 years, Aberdeen Asset Management PLC and its affiliates have grown to become a global asset manager managing over $213 billion, as of March 31, 2008, of assets principally on behalf of leading national and corporate pension funds, central banks and other financial institutions from its 26 offices located around the world. It employs over 1,800 staff in 21 countries, including investment centers in the three main time zones through London, Philadelphia, Singapore and Sydney.

Aberdeen Asset Management Inc. ("AAMI") is a wholly owned subsidiary of UK-listed Aberdeen Asset Management PLC, an independent asset management company. AAMI manages $46 billion in assets as of March 31, 2008.

Investors should carefully consider a fund's investment objectives, risks, fees, charges and expenses before investing any money. To obtain this and other fund information, please call 866-667-9231 to request a prospectus, or download a prospectus at www.aberdeeninvestments.com. Please read it carefully before investing any money.

Aberdeen Funds are distributed by Aberdeen Fund Distributors LLC, Member FINRA, 300 Barr Harbor Drive, Suite 300, West Conshohocken, Pa. 19428.

Nationwide Fund Advisors is the investment adviser to the Nationwide Funds. Nationwide Funds are distributed by Nationwide Fund Distributors LLC, Member FINRA, 1200 River Road, Suite 1000, Conshohocken, Pa. 19428.

Nationwide Fund Advisors and Nationwide Fund Distributors LLC are wholly owned subsidiaries of Nationwide Financial Services, Inc. Nationwide Financial Services is an affiliate of Nationwide Mutual Insurance Company.

SOURCE Aberdeen Asset Management Inc. 

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