Jersey City, NJ October 5, 2009—Lord, Abbett & Co. LLC (Lord Abbett), an independent, privately held investment management firm, announced the appointment of three new Partners, bringing the total number of Lord Abbett Partners to 59.

In announcing these appointments, Daria L. Foster, Lord Abbett Managing Partner, said: We value these individuals for the leadership they provide in their respective areas of expertise. As Partners, they will help guide the organization into its next phase of growth, continuing our 80-year legacy of the stewardship of our clients assets.

Robert S. Dow, Lord Abbett Senior Partner, also commented: We are pleased to recognize these new Partners for their contributions to Lord Abbett. While many other investment management firms have turned away from the partnership structure, we believe that remaining an independent, privately held firm is a strategic advantage that allows us to better serve our clients.

The newly named Partners represent the three major areas of the firm: investments, distribution, and core services.

Three newly named Lord Abbett Partners and their titles:

Lynn M. Gargano—Partner, Chief Financial Officer

Justin C. Maurer—Partner, Portfolio Manager

Mike Weldon—Partner, Director of Marketing

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About Lord Abbett:
Lord, Abbett & Co. LLC is an independent, privately held firm with a singular focus on the management of money. As one of the oldest money management firms in the United States, we have consistently provided generations of clients and their financial advisors with a quality investment experience since 1929. We approach our business as a craft, driven by core fundamentals: an unwavering discipline and commitment to a reproducible process; integrity that is as much an asset as the portfolios we manage; accountability for every decision we make; dedication to the prudent stewardship of our clients assets; and intellectual rigor across all aspects of our business. As a trusted steward, Lord Abbett today manages more than $84 billion in assets (as of September 30, 2009), offers a full range of mutual funds, institutional, and individually managed accounts, and manages two of the nations oldest mutual funds.

Shares of Lord Abbett mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

A prospectus contains important information about a fund, including its investment objectives, risks, charges, and ongoing expenses, which an investor should carefully consider before investing. To obtain a prospectus on any Lord Abbett mutual fund, please call your investment professional or Lord Abbett Distributor LLC at 888-522-2388 or visit our Website at www.lordabbett.com. Read the prospectus carefully before investing. Lord Abbett mutual fund shares are distributed by Lord Abbett Distributor LLC.