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Russell Tax-Managed U.S. Large Cap Fund Combining tax-managed opportunities with multi-manager benefits How to invest with Russell Fund objective Seeks to provide long-term capital growth on an after-tax basis OVERVIEW PERFORMANCE HOLDINGS & DETAILS MANAGERS More fund information Daily prices & standardized performance Prospectus & reports Printable fact sheet (PDF) Tax information Investment strategy Seeks to provide long-term capital growth on an after-tax basis. Invests in stocks traded in the U.S. market. Selects managers with inherently tax-sensitive investment management approaches. Core equity exposure incorporates market-oriented, growth and value styles. Fund highlights Helps tax-sensitive investors by seeking to maximize after-tax returns. Provides broad exposure to large capitalization stocks by blending managers that invest in diverse styles across the medium and large capitalization spectrum without the tax impact of a fund that buys and sells with no regard for taxes. Characteristics As of 12/31/2011 Updated quarterly       Total net assets (All classes)   $429.1 million Net asset value (Class S)   $19.38     Cusip   Ticker Class A   782494348   RTLAX Class C   782478309   RTLCX Class E   782478879   RTLEX Class S   782493720   RETSX Select a different Russell fund Russell Commodity Strategies Russell Emerging Markets Russell Global Equity Russell Global Infrastructure Russell Global Opportunistic Credit Russell Global Real Estate Securities Russell International Developed Markets Russell Investment Grade Bond Russell Money Market Russell Short Duration Bond Russell Strategic Bond Russell Tax Exempt Bond Russell Tax-Managed U.S. Large Cap Russell Tax-Managed U.S. Mid & Small Cap Russell U.S. Core Equity Russell U.S. Growth Russell U.S. Quantitative Equity Russell U.S. Small Cap Equity Russell U.S. Mid Cap Equity Russell U.S. Large Cap Equity Russell U.S. Value ----LifePoints® Funds---- Conservative Strategy Moderate Strategy Balanced Strategy Growth Strategy Equity Growth Strategy 2017 Retirement Distribution — S Shares 2017 Retirement Distribution — A Shares Fund objectives, risks, charges and expenses should be carefully considered before investing. For a prospectus containing this and other important information call Russell at 1-866-676-7680 or go to the prospectus and reports page to download one. Please read the prospectus carefully before investing. Please remember that all investments carry some level of risk including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns. Income from funds managed for tax efficiency may be subject to an alternative minimum tax and/or any applicable state and local taxes. Diversification and strategic asset allocation do not assure profit or protect against loss in declining markets. For more information on Russell Funds, contact your investment professional or plan administrator for assistance. Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company. The Russell logo is a trademark and service mark of Russell Investments. Securities products and services offered through Russell Financial Services, Inc., member FINRA, part of Russell Investments. For information on the Financial Industry Regulatory Authority, go to www.finra.org. Copyright © Russell Investments 2007-2011. All rights reserved. First used April 2009. RFS-1901 Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.

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