Company Press Release

LOS ANGELES, Sept. 30, 2011 -- The DoubleLine Funds Trust ("the DoubleLine Funds") today launched the DoubleLine Low Duration Bond Fund with two "no load" share classes: I shares (DBLSX) and N shares (DLSNX).

The open-ended fund invests principally in debt securities. Eligible investments include mortgage-backed securities; corporate debt; asset-backed securities; foreign securities (corporate and government); emerging market securities (corporate and government); inflation-indexed bonds; bank loans and assignments; securitized products, including collateralized loan obligations; preferred securities; and other instruments bearing fixed or variable interest rates of any maturity.

Philip Barach, Luz Padilla and Bonnie Baha serve as portfolio managers of the fund. Mr. Barach is President and co-founder of DoubleLine Capital and a senior portfolio manager in DoubleLine Capital's Mortgage-Backed Securities Group. He is co-manager of the DoubleLine Total Return Bond Fund. (Jeffrey Gundlach, CEO of DoubleLine Capital, is co-manager of the DoubleLine Total Return Bond Fund.) Ms. Padilla heads DoubleLine's Emerging Markets Fixed Income Group, which manages investments in fixed income issues of corporations and governments in emerging markets. She is manager of the DoubleLine Emerging Markets Fixed Income Fund. Ms. Baha heads DoubleLine's Global Developed Credit Group, which invests in fixed income securities issued by governments and corporations in developed market countries, including the United States.

Mr. Barach will hold a webcast at 1:15 pm PT/ 4:15 pm ET Friday October 14, 2011 to discuss the DoubleLine Low Duration Bond Fund. After his prepared presentation, he will take questions from the attendees. Registration details will be posted on the home page of the website www.doublelinefunds.com.

DoubleLine Capital LP, adviser to the DoubleLine Funds, will normally seek to construct the fund's portfolio with an effective duration of three years or less. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security's price to changes in interest rates.  For example, the value of a portfolio of fixed income securities with an average duration of two years would generally be expected to decline by approximately 2% if interest rates rose by one percentage point.  "Effective" duration is a measure of the fund's portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates.  

Share Class Information

I shares: Minimum initial investment is $100,000 for regular accounts and $5,000 for Individual Retirement Accounts (IRAs). There is no annual 12b-1 fee.

N shares: Minimum initial investment is $2,000 for regular accounts and $500 for IRAs. There is an annual 12b-1 fee of 0.25%.

About DoubleLine Funds Trust

DoubleLine Funds Trust (the "Trust") was formed as a Delaware statutory trust on January 11, 2010 and is a registered investment company. DoubleLine Capital LP (the "Adviser") acts as the investment adviser for the Trust. A prospectus for the Funds can be obtained by calling 1-877-DLINE11 or be downloaded from the Internet at www.doublelinefunds.com.

About DoubleLine Capital LP

DoubleLine Capital LP is a fixed income investment management firm and a registered investment adviser under the Investment Advisers Act of 1940. DoubleLine Capital has assets under management of about $17 billion, invested via mutual funds, separate accounts and hedge funds. The firm is majority employee-owned with CEO Jeffrey Gundlach and President Philip Barach holding a combined controlling interest in the firm. DoubleLine's headquarters is in Los Angeles, CA. Its offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.

The investment objectives, risks, charges and expenses of the DoubleLine Funds must be considered carefully before investing. The prospectus contains this and other important information about the Funds, and it may be obtained by calling 1 (877) 354-6311/ 1 (877) DLINE11, or visiting www.doublelinefunds.com. Read it carefully before investing.

Investments in debt securities typically decrease in value when interest rates rise.  This risk is usually greater for longer-term debt securities.  Investments in Asset-Backed and Mortgage-Backed Securities include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.  The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.  These risks are greater for investments in emerging markets. Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities.  In order to achieve its investment objectives, the Fund may use certain types of exchange traded funds or investment derivatives.  Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments.  ETF investments involve additional risks such as the market price trading at a discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a fund's ability to sell its shares.  These risks are fully disclosed in the prospectus.

While the Funds are no-load, management and other expenses still apply.  Please refer to the prospectus for further details.

DoubleLine Funds are distributed by Quasar Distributors, LLC.


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