Russell Launches Global Equity Fund.

Offers Alternative Strategies for Individual Investors to Access Global Capital Markets

Represents Shift Away from Traditional Regional Approach - Russell Selects Managers for the Fund with Excellent Stock Selection Skills across Borders

TACOMA, Wash. -- Russell Investment Group announced it has launched a Global Equity Fund in the US, which seeks to provide individual investors with long-term capital growth by employing a global approach via managers who seek the best equity investments around the world rather than being limited by national borders. As in all its multi-manager funds, Russell is responsible for the selection and management of the managers, and the fund initially includes three managers: Altrinsic Global Advisors, ClariVest Asset Management and T. Rowe Price.

Effective immediately, the Global Equity Fund has been added as an underlying fund to Russell's LifePoints[R] Funds and its recommended asset allocated model strategies, in order to exploit the strategy and provide a source of additional diversification and potential returns without material increase in the active risk in the portfolios.

"By giving managers greater stock selection freedom, for example letting them buy the best auto stock in the world, not just the best in the US, we are aiming to provide a complementary source of potential return to investors who may be accustomed to regional funds in which managers focus on local markets. Moreover, we are able to provide greater overall diversification within a portfolio," said Phil Hoffman, Russell portfolio manager.

Relative to Russell's existing US equity and non-US equity funds, the Global Equity Fund is unique in that it allows for greater country and sector tilts. It also holds relatively fewer stocks and this additional focus may be attractive to many individual investors. The fund also allows its managers to express preferences for US or non-US stock, a lever not available in other Russell Funds. It is available in A, C, E and S share classes and will be offered to individual investors via selected independent financial intermediaries nationwide.

"The emergence of global investment research processes based on cross-border security analysis is, in Russell's view, among the most important developments in active management in recent years. Factors such as the globalization of markets, the convergence of national accounting rules, the spread of quantitative techniques and improvements in data disclosure and corporate governance have created new investment opportunities pursuing a wider range of styles and approaches," said Tim Noonan, managing director, individual investor product and advice group.

The launch of the Global Equity Fund follows Russell's January launch of its Global Indexes, and reflects the company's growing emphasis on the importance of the global investment market as a source of increased investment opportunities.

Commenting on the types of managers Russell considers for the fund, Hoffman said, "We are looking for managers that can take advantage of inefficient markets wherever they exist by being opportunistic, aggressive and nimble in implementing their investment strategy."

Further information about the Global Equity Fund, the Russell LifePoints[R] Funds and model strategies, the recently launched Russell Global Indexes and independent financial intermediaries that work with Russell can be found at www.russell.com

About Russell

Russell Investment Group, a global leader in multi-manager investing, provides investment products and services in more than 44 countries. Russell manages more than $195 billion in assets for advisory clients as of December 31, 2006. In 2007, and for the sixth time since 1999, Russell is ranked among the Fortune Magazine's 100 Best Companies to Work For in America.

Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide and is a subsidiary of The Northwestern Mutual Life Insurance Company.

Fund objectives, risks, charges and expenses should be carefully considered before investing. A prospectus containing this and other important information can be obtained by calling [phone] or visiting www.russell.com. Please read the prospectus carefully before investing.

Global equity involves risk associated with investments primarily in equity securities of companies located around the world, including the United States. International securities can involve risks relating to political and economic instability or regulatory conditions. Investments in emerging or developing markets involve exposure to economic structures that are generally less diverse and mature, and to political systems which have less stability than those of more developed countries.

Effective July 1, 2006 Frank Russell Investment Company changed its name to Russell Investment Company ("RIC"). RIC Funds are distributed by Russell Fund Distributors, Inc., and advised by Russell Investment Management Company ("RIMCo"). Effective July 1, 2006 RIMCo changed its name from Frank Russell Investment Management Company.

Model Strategies represent target allocations of Russell funds; these models are not managed and cannot be invested in directly. Model Strategies are exposed to the specific risks of the underlying funds directly proportionate to the underlying fund allocation.

The LifePoints[R] Funds are a series of fund of funds which expose an investor to the risks of the underlying funds proportionate to their allocation. Investment in LifePoints Funds involves direct expenses of each fund and indirect expenses of the underlying funds, which together can be higher than those incurred when investing directly in an underlying fund.

Securities distributed through Russell Fund Distributors, Inc. member NASD, part of Russell Investment Group.

RFD: 07-6531

First used: March 2007