Investing in small and mid-cap stocks is more risky and more volatile than investing in large cap stocks.

 For the period ended June 30, 2008 the average annual total returns of Ariel Fund for the one-, three-, five-, ten- and twenty-year periods were -29.29%, -4.49%, 4.41% 6.27% and 9.93%. All performance assumes reinvestment of dividends and capital gains. Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Performance data for Ariel Fund current to the most recent month-end may be obtained by clicking here

As of September 30, 2007 Ariel Fund had an annual expense ratio of 1.03%.

To be rated in the article a fund must be at least one-year old. Funds were excluded that required a minimum investment of $100,000 or more, that are sold only to special groups or institutional investors or are available only through IRAs. Additionally, when a fund has many share classes that are sold with different fee structures but have essentially the same returns, Kiplinger’s chose to usually list only the oldest share class.

This article was written by Kiplinger’s Personal Finance and candidly discusses individual funds. The information is not guaranteed as to its accuracy or completeness. Information is current as of the date of this reprint and is subject to change. The information in this reprint is not reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular fund.

Investors should consider carefully the investment objectives, risks, and charges and expenses before investing.  For a current prospectus which contains this and other information about the funds offered by Ariel Investment Trust, call us at 800-292-7435 or click here.  Please read the prospectus carefully before investing.  Distributed by Ariel Distributors, LLC.