Jean-Marie Eveillard will resume portfolio management responsibilities for the First Eagle Global, Overseas, Gold, Overseas Variable and US Value Funds. Charles de Vaulx his predecessor has resigned from the firm. -ed.

First Eagle Funds and its investment adviser, Arnhold and S. Bleichroeder Advisers announced today that Jean-Marie Eveillard will resume portfolio management responsibilities for the First Eagle Global, Overseas, Gold, Overseas Variable and US Value Funds. He will be Lead Portfolio Manager for the Global Value Group of Arnhold and S. Bleichroeder Advisers. Charles de Vaulx has resigned from the firm.

�We are pleased that Jean-Marie will resume his portfolio management responsibilities,� said John P. Arnhold, Chairman and CEO of Arnhold and S. Bleichroeder Advisers. �He established a unique philosophy and discipline which has served our clients well for decades. Jean-Marie has been associated with our firm for over seven years, our Funds for over 30 years, and since 2005 has acted in a senior advisory role. We are excited that he will again be actively involved in helping us continue to build around his vision and exceptional stewardship.�

In resuming his role at the First Eagle Funds which has assets under management exceed-ing $35 billion, Mr. Eveillard will be responsible for helping to build greater depth within the organization and in particular, further develop the firm�s already significant research capabilities.

Jean-Marie Eveillard began working as an analyst with the SoGen International Fund in 1970. He became a portfolio manager in 1979, and continued to serve in that role for the renamed First Eagle Global Fund until the end of 2004. Further, he was the portfolio manager of the First Eagle Overseas, Gold, Overseas Variable and US Value Funds from their inceptions through the end of 2004.

Mr. Eveillard was named an International-Stock Manager of the Year by Morningstar in 2001. In 2003, he received a Lifetime Achievement Award from Morningstar for building one of the most successful long-term records in the investment business.

Edited by: Erin Kello

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