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THE YACKTMAN FUND IS LAUNCHED

 THE YACKTMAN FUND IS LAUNCHED
 CHICAGO, July 17 /PRNewswire/ -- The Yacktman Fund, a new no-load


mutual fund, managed by Donald A. Yacktman is now fully registered and available to investors in all 50 states. Mr. Yacktman was selected by Morningstar (a leading mutual funds evaluation service) as the "1991 Portfolio Manager of the Year." He had been the portfolio manager of the Selected American Shares mutual fund (a Forbes "Honor Roll" fund for the past three years) from Jan. 1, 1983, to March 6, 1992.
 Mr. Yacktman left Selected in March of this year to form his own firm, Yacktman Asset Management Company. In addition to managing The Yacktman Fund, his firm also manages investments for employee benefit plans, endowments and foundations, other financial institutions and high net worth individuals and families.
 Mr. Yacktman will pursue the same investment philosophy and strategies with The Yacktman Fund that he employed at Selected American Shares. During his tenure as portfolio manager of Selected American Shares, the fund had an 18.2-percent annualized total return for the nine-year period ended Dec. 31, 1991. This compares to a 13.6-percent annualized total return for the average equity mutual fund for the same period. In 1991, Selected American Shares had a 46.3-percent total return compared to 35.6 percent for the average equity mutual fund.
 In his nine-plus years at Selected American, the fund grew from $76 million to $711 million in assets with substantial institutional ownership and climbed in performance rankings from the bottom decile of all equity mutual funds for the preceding 10 years in to the top 25 of all equity mutual funds in the United States over a 10-year period. Mr. Yacktman, age 50 and a Harvard MBA graduate, attributes his success at Selected American to his investment philosophy. His objective is to buy the common stocks of larger companies with good underlying businesses and shareholder-oriented managements, and to do so at favorable market valuations.
 Mr. Yacktman has been covered extensively in such publications as The Wall Street Journal, Financial World, The New York Times, Money, Chicago Tribune, Forbes, Barron's, Chicago Sun Times, USA Today, Crain's Chicago Business, Business Week and Kiplinger's Personal Finance Magazine. He is also one of the featured speakers this year at the National Retreat of the Institute of Certified Financial Planners, the Charles Schwab National Financial Advisor Conference and the Northeast Regional Conference of the National Association of Personal Financial Advisors.
 For general information on The Yacktman Fund, a prospectus and applications, interested persons should call 1-800-525-8258; for specific wire transfer instructions, the number of the transfer agent, First Wisconsin Trust Company, is 1-800-457-6033.
 -0- 7/17/92
 /CONTACT: Don Yacktman or Jon Carlson of Yacktman Asset Management Company, 800-356-6356 or 312-201-9480/ CO: Yacktman Asset Management Company ST: Illinois IN: FIN SU: PDT


SM -- DE001 -- 0081 07/17/92 08:02 EDT
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Date:Jul 17, 1992
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