Update on Russell money market mutual funds Given the dramatic policy responses by the Bank of Canada and the U.S. Federal Reserve to the current financial and economic crisis, short-term interest rates have declined to unprecedented levels in recent months. One direct impact of this occurrence has been a reduction in the returns on investments in money market mutual funds, including the Russell money market mutual funds. In response, Russell Investments Canada Limited intends to reimburse the Russell money market mutual funds' operating expenses and management fees (for all series) to the extent that these expenses exceed the funds' returns. This will prevent the fund from providing negative returns to investors. Russell remains fully committed to the Russell money market mutual fund and believes that this action is in the best interest of investors. Russell may discontinue, at anytime and without further notice, reimbursing the Russell money market funds for fees and expenses.

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