Lord Abbett Appoints Five New Partners

JERSEY CITY, N.J., Oct. 5 /PRNewswire/ -- Lord, Abbett & Co. LLC ("Lord Abbett"), an independent, privately held investment management firm, today announced the appointment of five new Partners. Each of the newly named Partners represents one of three major concentrations of the firm: investments, distribution, and core services.

2010 Lord Abbett Partner Appointments:

• David J. Linsen -- Portfolio Manager
• Thomas B. Maher -- Portfolio Manager
• Jonathan M. Morgan -- Director of Institutional Services
• Lawrence B. Stoller -- Deputy General Counsel
• Stacy P. Allen -- Chief Administrative Officer

"As all Partners before them, these individuals have undeniably proven themselves as leaders in their areas of expertise," said Daria L. Foster, Lord Abbett Managing Partner. "I look forward to their future contributions as we continue to serve as stewards of our clients' assets and guide the firm into its next phase of growth."

"We are pleased to recognize each of the new Partners for their many contributions to Lord Abbett's success," added Robert S. Dow, Lord Abbett Senior Partner. "We believe our partnership structure is a strategic advantage that affords us the opportunity to focus solely on our clients' needs and maintain a singular focus on the management of money."

The appointments bring the total number of Lord Abbett Partners to 60.

About Lord Abbett

Lord, Abbett & Co. LLC is an independent, privately held firm with a singular focus on the management of money. As one of the oldest money management firms in the United States, Lord Abbett has consistently provided generations of clients and their financial advisors with a quality investment experience since 1929. Lord Abbett manages approximately $102.1 billion in assets (as of September 30, 2010) across a full range of mutual funds, institutional and separately managed accounts, including $3.1 billion for which Lord Abbett provides investment models to managed account sponsors.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Lord Abbett Funds. This and other important information is contained in the fund's summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional or Lord Abbett Distributor LLC at (888) 522-2388, or visit us at www.lordabbett.com. Read the prospectus carefully before investing.

Lord Abbett mutual fund shares are distributed by Lord Abbett Distributor LLC.

Shares of Lord Abbett mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, and are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of principal amount invested.

SOURCE Lord, Abbett & Co. LLC