Oakmark portfolio manager Michael Welsh is retiring. Welsh, who is the co-portfolio manager for Oakmark International and Oakmark Global will leave the firm in January 2006 but his last day as stock picker for the funds is Friday.

Robert Tayler will taking up the reins on Oakmark Global as co-portfolio manager with Clyde McGregor. David Herro will stay on as the sole portfolio manager for Oakmark International.

The Oakmark Funds are advised by Harris Associates  

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