"Fund Manager Addition At Heartland Advisors" and "Proposed Changes to Heartland's Fund Line-Up".

MILWAUKEE--(BUSINESS WIRE)--Sept. 15, 1999--

Heartland Advisors, Inc. is pleased to announce the addition of M. Gerard Sandel, CFA as Senior Vice President - Director of Equity Research. In his new role, Mr. Sandel will be leading and directing Heartland's team of equity analysts as well as conducting research on mid and large capitalization companies that fit Heartland's value investment criteria.

"We are extremely pleased to have Gerry join Heartland," said President William J. Nasgovitz. "His strong experience, most recently as a value manager at Stein Roe Farnham and the Marshall Funds, combined with his solid track record and complementary classic value investing style will make a great fit with our investment organization. We are anticipating Gerry to provide excellent leadership to our analytical team, furthering their value-based investment expertise to provide our investors with even more opportunity."

Heartland Advisors also announced proposed changes to their fund line-up as filed with Securities and Exchange Commission (SEC) on September 15. The changes, to be effective on or around December 6, 1999, include changing the name of the Heartland Large Cap Value Fund to the Heartland Select Value Fund as well as changing the investment guidelines to allow the Fund to invest across all market capitalizations in search of providing shareholders with the best value opportunities available.

M. Gerard Sandel, along with William J. Nasgovitz and Eric J. Miller, currently the co-portfolio managers of Heartland's Value Fund, have been named co-portfolio managers of the Large Cap Value Fund effective today.

Heartland Advisors has also filed with the SEC a plan of liquidation for the Heartland Mid Cap Value Fund (current assets of $17 million). This action will require the approval of shareholders, with a shareholder meeting planned for November 30, 1999. Effective September 15, M. Gerard Sandel and Eric J. Miller were named co-portfolio managers for the Mid Cap Value Fund on an interim basis.

Concerning the proposed fund changes Mr. Nasgovitz commented, "We believe we can enhance the return potential to our investors by providing them a core value investment portfolio that seeks to invest in the best relative value opportunities across market capitalizations rather than by offering separate portfolios that segment investment opportunities by cap size. We see our existing small cap portfolios providing a natural complement to this core value style for those investors who are willing to accept the additional investment risk for the enhanced long-term return potential of small and micro cap companies."

The former managers of the Mid Cap Value and Large Cap Value Funds, Dr. Michael Berry and James Holmes, CFA, will be leaving Heartland to pursue other opportunities. "We wish Mike Berry and Jim Holmes the very best in their future endeavors," Nasgovitz said.

Heartland Advisors, Inc., based in Milwaukee, WI, was formed by William Nasgovitz in 1982. Known as "America's Value Investor," Heartland currently manages more than $2.8 billion and provides investment management services to institutional and individual clients, as well as the Heartland family of mutual funds.

For more complete information, including charges and expenses, call Heartland Advisors at 1-800-432-7856 for a prospectus. Read it carefully before you invest. Heartland Advisors, Inc. - distributor. Member SIPC, NASD.