Berger/BIAM International Fund opens.

DENVER--(BUSINESS WIRE)--Nov. 6, 1996--The Berger/BIAM International Fund will be offered to the public nationwide Thursday, Nov. 7, bringing investors an impressive seven-year performance record.

The Berger/BIAM International Fund is the first fund to come from a joint venture between Berger Associates Inc. and Bank of Ireland Asset Management (U.S.) Ltd. (BIAM), a subsidiary of the Bank of Ireland.

The no-load Berger/BIAM International Fund offers investors the advantage of a proven seven-year record through a pooled account that has been continuously managed by the BIAM investment team since its inception July 31, 1989. The assets of the pooled account became the initial assets of the fund.

The Fund's one- and five-year average annual total returns through Sept. 30, 1996, of 11.8 percent and 13.9 percent outpaced the performance of the EAFE Index for the same periods by 2.8 percent and 5.4 percent, respectively. In addition, as of Sept. 30, 1996, the Fund's average annual total return since inception of 13.1 percent has exceeded the performance of the EAFE Index for this same period by an even more impressive 9.0 percent/a.

"The Berger/BIAM International Fund brings our shareholders the solid international expertise of BIAM and the sound investment philosophy they expect from Berger," said Berger Associates Inc. President and Chief Executive Officer Jerry Lavin. "The Fund is another example of our commitment to bring our shareholders what we believe are the most innovative, exciting investment opportunities available."

The BIAM investment team, most of whom have been with BIAM for over 10 years, provides portfolio management for the new Berger/BIAM International Fund. Chris Reilly, who heads the team, has been with BIAM since 1980. Berger Associates Inc. is responsible for the marketing, distribution and administration of the Fund. The joint venture partnership is known as BBOI Worldwide LLC.

Like Berger Associates, Bank of Ireland Asset Management employs a fundamental, bottom-up approach to equity investing. As sub advisors to the Berger/BIAM International Fund, the BIAM investment team analyzes global change and identifies investment opportunities based on their expectations for above-average, long-term growth. Companies are chosen based on key qualitative and quantitative criteria, including competitive positioning, management skills, earnings growth, p/e ratios balance sheet strength and reasonable price.

"Our approach is simple," BIAM U.S. President Denis Curran said. "We study changes around the world and zero-in on the ideas we expect will generate above-average growth over the long term. We know, as does Berger Associates, that change brings opportunity."

Bill Berger sees the Fund as a logical addition to the Berger Funds family. "In 45 years in the investment business, I've never seen so many solid international growth opportunities," he said. "BIAM has demonstrated for years its ability to stay abreast of the constant changes that can affect global markets. That, combined with their proven expertise as skilled stock-pickers, gives me confidence that we, as Berger shareholders, now have an excellent opportunity to diversify an all-U.S. portfolio with an international flavor," Berger continued.

Berger Associates Inc., with $3.5 billion in assets currently under management, manages the Berger 100 Fund, the Berger Growth and Income Fund, the Berger Small Company Growth Fund and the Berger New Generation Fund, launched March 29, 1996.

Bank of Ireland Asset Management is part of the Bank of Ireland Group which was founded in 1783. The Group is headquartered in Dublin and is Ireland's most diversified financial services group. Bank of Ireland Asset Management has over $17.5 billion in assets currently under management, including over $6.5 billion for North American clients.

BERGER/BIAM INTERNATIONAL FUND

FACTS

-- Open to public, Thursday, Nov. 7, 1996

-- No-load international equity mutual fund

-- Portfolio manager: BIAM investment team

-- Effective date with SEC: Oct. 15, 1996

-- Initial offering price: $10 per share

-- Minimum initial investment: $2,000

-- Estimated fees and expenses: 1.78 percent

-- Investment objective: long-term capital appreciation

-- Investment strategy: The Berger/BIAM International Fund invests

primarily in common stocks of well established companies located

outside the United States. To achieve its objective, the

Portfolio intends to diversify its holdings among several

countries, and to have, under normal conditions, at least

65 percent of the Portfolio's total assets invested in the

securities of companies located in at least five countries, not

including the United States

-- Index correlation: Morgan Stanley's Europe, Australasia and Far

East (EAFE)

-- Fund structure: master/feeder

-- Investment advisor: BBOI Worldwide LLC, a joint venture

partnership between Berger Associates Inc. (BAI) and Bank of

Ireland Asset Management (U.S.) Ltd. (BIAM), a subsidiary of

Bank of Ireland Group

-- Institutional funds:

Berger/BIAM International Institutional Fund

Minimum balance: $100,000

Fees and expenses: 1.35 percent

Berger/BIAM International CORE Fund

Minimum balance: $1 million

Fees and expenses: 1.10 percent

BBOI WORLDWIDE LLC

-- Joint venture partnership between Berger Associates Inc. and

Bank of Ireland Asset Management (U.S.) Ltd.

-- Portfolio management for funds provided by BIAM

-- Marketing and distribution for all funds provided by Berger

Associates Inc.

-- Headquartered in Denver

-- All funds to be open-end, no-load mutual funds 

-- All funds to be offered to both retail and institutional markets

BERGER ASSOCIATES INC.

-- Founded in 1974

-- Over $3.5 billion in assets currently under management

-- Manages the Berger 100 Fund, the Berger Growth and Income Fund,

the Berger Small Company Growth Fund and the Berger New

Generation Fund

-- Offices in Denver, Atlanta and Los Angeles 

-- Controlling interest owned by Kansas City Southern Industries 

Inc.

-- President and Chief Executive Officer -- Gerard Lavin

BANK OF IRELAND ASSET MANAGEMENT

-- Over $17.5 billion in assets currently under management

-- Over $6.5 billion under management on behalf of North American

clients

-- 105 U.S. clients

-- Global discretionary management of equities, bonds and balanced

portfolios

-- Offices in Dublin, London, Frankfurt, Melbourne, Montreal and

Greenwich, Conn.

-- Client base -- Ireland, United Kingdom, Germany, United States,

Canada, Australia

-- Wholly owned subsidiary of Bank of Ireland Group

-- One of Ireland's most diversified financial services firms

-- Founded in 1783 by Royal Charter

-- International money management activities established in

1966

/a The returns shown are historical and reflect the performance of a pool of assets advised by BIAM for periods before the fund commenced operations on Oct. 11, 1996, adjusted to reflect any increased expenses associated with operating the Fund. The asset pool was not registered with the Securities and Exchange Commission and therefore was not subject to the investment restrictions imposed by law on registered mutual funds. If the pool had been registered its performance might have been adversely affected. Past performance is no guarantee of future results. The Morgan Stanley Europe, Australasia and Far East (EAFE) Index is a market capitalization weighted Index composed of companies representative of the market structure of 20 developed market countries. It is not an investment product available for purchase. Return and share price will fluctuate, and redemption value may be more or less than original cost. The special risks involved in foreign investing, such as currency fluctuations and political uncertainty are discussed further in the prospectus. Funds distributed by First Distributors Inc.

CONTACT: Berger Associates Inc., Denver

Sally Carleton, 303/336-4516