Jersey City, NJ – January 20, 2010 – Lord, Abbett & Co. LLC (“Lord Abbett”), an independent, privately held investment management firm, announced that effective December 31, 2009, it reduced the net expense ratios on both the Lord Abbett International Core Equity Fund (LICAX) and the Lord Abbett International Dividend Income Fund (LIDAX) Class A shares to 1.12%.  The net expense ratios had been 1.43% on International Core Equity and 1.35% on International Dividend Income.   The new expense ratios are lower than both the Morningstar and Lipper peer group averages of Class A shares in their respective categories, as of December 31, 2009. 

The International Core Equity Fund, established in 2003, invests in the stocks of large and mid-sized international companies poised for significant appreciation where valuations may potentially expand and growth may exceed expectations.  The Fund currently manages approximately 939 million in assets.

The International Dividend Income Fund, created in 2008, seeks international companies with high yields, sustainable dividends, and below-average valuations to construct a portfolio that potentially rewards investors in two ways:  high dividend income and capital appreciation.  When Lord Abbett launched the Fund, it was one of the first mutual funds of its kind to offer an international dividend strategy.  Current assets in this Fund are $325 million. 

Historically, both funds have delivered attractive performance in their respective categories.  As of December 31, 2009, the International Core Equity Fund finished in the 35th percentile or better in both its Morningstar and Lipper peer groups for the one-, three-, and five-year periods,* and the International Dividend Income Fund finished its first year in the top quintile of both its Morningstar and Lipper peer groups.**

The lower expense ratios come during a time when Lord Abbett sees greater opportunities for investors in the international markets.  “Today, more than half of the world’s market cap and almost three times the number of public companies are outside the United States,” said Mike Weldon, Lord Abbett Partner & Director of Marketing.  “Yet few investors are aware of this breadth and, as a result, typically allocate less than 20% of their portfolios to international markets.”  Weldon added:  “The international markets also offer greater dividend potential to investors, and access to industry sectors, like building products and shipping, that may no longer exist in the United States.” 

*Lord Abbett International Core Equity Fund:  For the one-, three-, and five-year periods ended December 31, 2009, the Fund (Class A) ranked in the 27th percentile (108 out of 399), the 27th percentile (86 out of 320), and the 23rd percentile (62 out of 270) respectively, in the Lipper International Large-Cap Core category; and in the 35th percentile (286 out of 823), the 28th percentile (178 out of 635), and the 28th percentile (131 out of 462) respectively, in the Morningstar Foreign Large Blend category.
**Lord Abbett International Dividend Income Fund:  For the one-year period ended December 31, 2009, the Fund (Class A) ranked in the 18th percentile (23 out of 130) in the Lipper International Multi-Cap Value category; and in the 11th percentile (36 out of 340) in the Morningstar Foreign Large Value category.  
Sources: Morningstar Inc. and Lipper, Inc.

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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 manages approximately $88 billion in assets (as of December 31, 2009), offering a full range of mutual funds, institutional, and individually managed accounts, and manages two of the nation’s oldest mutual funds.

Current assets under management depicted for each fund above are as of December 31, 2009. 

Please note that Fund expenses may fluctuate with market volatility.

Lipper, Inc. Rankings are based on total performance and do not reflect the effect of sales charges.  Each fund is ranked within a universe of funds similar in investment objective.

© 2009 by Reuters.  All rights reserved.  Any copying, republication, or redistribution of Lipper, Inc. content is expressly prohibited without prior written consent of Lipper, Inc.

Fund rankings within the Morningstar categories depicted above, which may change monthly, are based on total returns calculated by the ranking entity. Rankings do not take into account sales charges, if applicable, but include reinvestment of dividends and capital gains, if any. Morningstar total return percentile rankings for the specified periods are relative to all funds that have the same investment categories. The highest (or most favorable) percentile rank is 1, and the lowest (or least favorable) percentile rank is 100.

© 2009 Morningstar, Inc. All rights reserved. The information contained: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

A Note about Risk: Investing in international securities generally poses greater risk than investing in domestic  securities, including greater price fluctuations and higher transaction costs.  Special risks are inherent to international investing including those related to currency fluctuations, foreign, political, and economic events.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Lord Abbett funds. This and other important information is contained in a fund’s summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional or Lord Abbett Distributor LLC at (888) 522-2388, or visit us at www.lordabbett.com. Read the prospectus carefully before investing.

Lord Abbett mutual fund shares are distributed by Lord Abbett Distributor LLC.

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