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DONALD YACKTMAN CREATES YACKTMAN ASSET MANAGEMENT COMPANY

 DONALD YACKTMAN CREATES YACKTMAN ASSET MANAGEMENT COMPANY
 CHICAGO, March 16 /PRNewswire/ -- Donald A. Yacktman, Morningstar's 1991 Mutual Fund Portfolio Manager of the Year, announces the formation of Yacktman Asset Management Company, a new, independent investment advisor. He also remains president of Selected American Shares mutual fund, but no longer serves as portfolio manager of the fund.
 Yacktman Asset Management Company has been formed to manage investments for employee benefit plans, institutions, mutual funds and high-net worth individuals.
 When Yacktman took over Selected American Shares on Jan. 1, 1983, there were $76 million in assets and the fund was ranked in the bottom decile of all equity mutual funds during the prior ten-year period. In the past 9 years with Yacktman as portfolio manager, the fund has grown to over $711 million in assets and is now ranked in the top 25 of all equity mutual funds in the United States over a ten-year period. This performance was recognized by Forbes magazine, naming Selected American Shares and Yacktman, as its portfolio manager, to the Forbes' honor roll for the last three years.
 During Yacktman's tenure as portfolio manager of Selected American Shares, the mutual fund had an 18.2 percent annualized total return compared to 13.5 percent of the average equity mutual fund. Selected American Shares had a 46.3 percent return in 1991.
 Yacktman has attributed the success of Selected American Shares to his investment philosophy. His objective has been, and continues to be, to buy common stock of companies with good underlying businesses and shareholder-oriented managements, and to do so at favorable market valuations.
 Yacktman, age 50 and a Harvard MBA graduate, has been covered extensively in publications like 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, and Business Week.
 During the process of finalizing the formation of Yacktman Asset Management Company, Don Yacktman may be contacted at Vestor Capital Corp., 135 S. LaSalle, Suite 740, Chicago, Ill., 60603, 312-641-2400. Media inquiries please contact Marla Gamze or Robin Pendergrast, International Marketing Exchange, Inc., phone, 815-363-0909 or fax, 815-363-0933.
 -0- 3/16/92
 /CONTACT: Marla Gamze or Robin Pentergrast, both of International Marketing Exchange, Inc., 815-363-0909/ CO: Yacktman Asset Management Company ST: Illinois IN: SU: PDT


PS -- NY096 -- 8567 03/16/92 21:13 EST
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Publication:PR Newswire
Date:Mar 16, 1992
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