Tweedy, Browne Selected Morningstar's International Fund Manager of the Year; AMG Affiliate's Global Value Fund Recognized for Outstanding Performance.

Business/Financial Editors

BOSTON--(BUSINESS WIRE)--Jan. 12, 2001

Tweedy, Browne Company LLC ("Tweedy, Browne") has been named International Fund Manager of the Year for 2000 by Morningstar, Inc., the well-known investment rating and analysis service.

Morningstar praised the managers of Tweedy, Browne's Global Value Fund, calling their long-term record "stunning." "Over the past seven years the fund has produced an annualized return of 16.19 percent compared with 10.33 percent for the average foreign-stock fund," Morningstar said in an announcement on its web site.

Tweedy, Browne is a New York-based investment management firm led by Christopher Browne, William Browne and John Spears. Founded in 1920, the firm employs a value-oriented investment approach advocated by Benjamin Graham to global and domestic equities. With approximately $7.5 billion under management, Tweedy, Browne provides investment management for institutions, individuals, partnerships, offshore funds and two mutual funds. In addition to the Global Value Fund, the firm also offers the Tweedy, Browne American Value Fund.

"We are enormously proud of our partners at Tweedy, Browne," said William J. Nutt, Chairman and CEO of Affiliated Managers Group, Inc. ("AMG"). "With their excellent long-term investment record, we are confident they will continue to be one of the most significant contributors to AMG's success."

Tweedy, Browne is one of the largest Affiliates of AMG (as measured by contribution to EBITDA), an asset management holding company that addresses the succession and transition issues facing the principals of growing mid-sized investment management firms. AMG's strategy is to generate growth through investments in new Affiliates, as well as through the internal growth of its existing Affiliates. AMG's innovative transaction structure allows individual members of each Affiliate's management to retain or receive significant direct ownership in their firm while maintaining operating autonomy. In addition, AMG provides centralized assistance to its Affiliates in strategic matters, marketing, distribution, product development, and operations. AMG has investments in 15 asset management firms, which collectively manage over $85 billion in assets.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including changes in the securities or financial markets or in general economic conditions, the availability of equity and debt financing, competition for acquisitions of interests in investment management firms, and other risks detailed from time to time in AMG's filings with the Securities and Exchange Commission. Reference is hereby made to the "Cautionary Statements" set forth in AMG's Form 10-K for the year ended December 31, 1999, and in AMG's Form 10-Q for the quarter ended September 30, 2000.

The information provided on the Tweedy, Browne Funds is provided for reference purposes only and not for investment or solicitation purposes. Shares of the Tweedy, Browne Funds are offered by prospectus only. For more complete details, including fee and expense information and risk considerations, please contact Tweedy, Browne Company LLC (a NASD member and the distributor of the Funds) for a prospectus. The redemption price of a mutual fund may be more or less than the original purchase price.

The sources for Morningstar references in this press release are articles provided by Morningstar, Inc. at www.morningstar.com. Chicago-based Morningstar is the leading provider of mutual fund, stock, and variable-insurance investment information. An independent company, Morningstar does not own, operate, or hold any interest in mutual funds, stocks, or insurance products.

For more information on Affiliated Managers Group, Inc. please visit AMG's web site at www.amg.com.