Company Press Release

Alger Announces New Director of National Accounts, Adds Field Sales Staff

Jun 07, 2012 -- Fred Alger & Company, Inc. (Alger) is pleased to announce two new additions to their sales team, in response to the firm's increase in growth equity market share.

Philip Casparius joins as Senior Vice President, Director of National Accounts, bringing his 23 years of investment industry experience to Alger. Prior to joining Alger, Phil was Director of National Sales at Fidelity Investments Institutional Services, responsible for sales of Fidelity's mutual fund and retirement products sold through financial advisors, wirehouses, and RIAs. Before Fidelity, Phil was a Managing Director and Head of Sales and Distribution for the Consulting Group at Morgan Stanley & Co., where he worked for 15 years. Phil is a graduate of Northeastern University and a member of MMI.

David Zappone joins as Vice President and Regional Marketing Manager for Southern California and has over 22 years of investment sales experience. Before joining Alger, David was at The Hartford for 16 years, most recently responsible for variable annuities in Southern California and the Pacific Northwest. David is a graduate of California State University.

"I'm very pleased to have Phil and David join our sales team," said Liz Clapp, National Sales Manager. "They, along with the three additions we made to our sales team last month, have proven track records of sales success. Collectively, they will help augment our existing sales efforts, and more importantly, allow Alger to deliver an even higher standard of client sales and service in the future. I am confident they will be instrumental in helping to build an even stronger Alger," added Liz.

"We are continuing to add talented and bright individuals to our organization" said Dan Chung, CEO and Chief Investment Officer of Fred Alger Management, Inc. "With these additions, I believe Alger is continuing to show our clients the deep commitment we have to the advisor community," added Dan.

About Fred Alger Management, Inc.

Fred Alger Management, Inc. was founded in 1964 and as of March 31, 2012 managed approximately $17 billion. Alger's investment philosophy is focused on discovering companies undergoing Positive Dynamic Change, which we believe offer the best investment opportunities. Alger investment strategies are available to institutional investors through separate accounts and mutual funds and to retail investors through Alger mutual funds. Fred Alger & Company, Incorporated, a broker-dealer and the parent company of Fred Alger Management, Inc. offers mutual funds as well as institutional funds for defined benefit and defined contribution plans. For more information, please visit http://www.alger.com.