ClearBridge Advisors, LLC ClearBridge Advisors, LLC was introduced by Legg Mason, Inc. in early 2006, several months after Legg Mason acquired Citigroup Asset Management. With Citigroup AM's U.S. Equity Group serving as the foundation of the organization, ClearBridge's seasoned investment professionals focus exclusively on managing equities across all market capitalizations and a variety of investing styles. As one of Legg Mason's asset management "centers of excellence," ClearBridge operates with investment independence – maintaining its own investment strategies, philosophies and investment decision-making authority. ClearBridge manages more than $100 billion in assets for individual and institutional investors in 75 countries across the globe, as of December 31, 2006. Bio Robert Feitler Portfolio Manager Robert Feitler is a managing director of ClearBridge and has been a director since 2003 until he assumed his current position in 2005. From 2000 to 2002, he was a vice president and research analyst. Mr. Feitler joined ClearBridge and/or its predecessors in 1995 and has over 13 years of investment experience. He has a BA from Haverford College and an MBA from the University of Wisconsin. Dmitry Khaykin Portfolio Manager Mr. Khaykin is a director and portfolio manager of ClearBridge and has been associated with ClearBridge and/or its affiliates since 2003. From 2003 to 2007, Mr. Khaykin was a sector research analyst until assuming his current position. Prior to joining the firm, he was a research analyst from 1998 to 2003 at Gabelli & Company where he concentrated on the telecommunications sector. He began his career at Morgan Stanley & Co., Inc. as an associate in the Risk Management Division. He has over 11 years of investment industry experience in the management and analysis of U.S. equities. Mr. Khaykin has a BA from New York University and an MBA from the Wharton School at the University of Pennsylvania. PL Large-Cap Value Objectives and Investments Long-term growth of capital through investment in equity securities of large U.S. companies; current income is of secondary importance. Benchmark    Russell 1000 Value Index The Russell 1000 Value Index is an index of companies with a less-than average growth orientation. Companies in this index have lower price-to-book and price-earnings ratios, higher dividend yields and lower forecasted growth rates than companies in the Russell 1000 Growth Index. Results include reinvested dividends. Investment Style    Large-Cap Value Based on information from Morningstar, Inc., 2007.

ClearBridge Funds PL Large-Cap Value† ClearBridge Managers Bio Company Profile Select a Manager AlgerAllianceBernsteinClearBridgeGoldman SachsHighlandJanusLazardLoomis SaylesMFSNeuberger BermanNFJOppenheimerFundsPAMPIMCOVan Kampen † These funds are available only through the Portfolio Optimization Funds.