Alger Funds Founded in 1969 More than $9.1 billion in assets under management as of 12/31/06. Our focus is intensive, original, bottom-up, fundamental research. This approach was developed by our founder, Fred Alger, and has been carried out consistently throughout our history of nearly four decades. Original research, a consistent investment style and an independent outlook — that’s what you get when you invest with Alger. Bios Neuberger Bio Senior Vice President Summary PL Small-Cap Growth Objectives and Investments Long-term growth of capital through investment in equity securities of small, fast growing companies. Benchmark(s)    Russell 2000 Growth Index and Russell 2000 Index The Russell 2000 Growth Index measures the performance of those companies within the Russell 2000 Index with higher price-to-book ratios and higher forecasted growth values and is the fund's primary index. The fund's benchmark was changed from the Russell 2000 Index to the Russell 2000 Growth Index due to the new manager's style of investing. Results include reinvested dividends. The Russell 2000 Index is an index of the 2,000 smallest companies listed in the Russell 3000 Index. Results include reinvested dividends. Investment Style    Small-Cap Growth Based on information from Morningstar, Inc., 2008.

Alger Portfolios PL Small-Cap Growth† Alger Managers Company Profile Select a Manager AlgerAllianceBernsteinClearBridgeGoldman SachsHighlandJanusLazardLoomis SaylesMFSNeuberger BermanNFJOppenheimerFundsPAMPIMCOVan Kampen † Prior to 7/1/07, Small-Cap Growth was managed by Neuberger Berman. This fund is available only through Portfolio Optimization Funds.