| Toledo, Ohio, March 1, 2002 - Harbor Fund today introduced Harbor Mid Cap Value Fund, a value-oriented domestic stock fund. Harbor now offers 14 actively managed mutual funds, including 11 stock funds. Dalton, Greiner, Hartman, Maher & Co. (DGHM), New York City, has been appointed subadviser of the new fund. Founded in 1982, DGHM focuses on managing portfolios of mid cap and small cap stocks that it believes are currently undervalued. The firm has in excess of $2 billion in assets under management. The Fund will be co-managed by Timothy G. Dalton, Jr., DGHM chairman; Kenneth J. Greiner, chief executive officer and president; Bruce H. Geller, executive vice president; and Peter A. Gulli, vice president. Harbor Mid Cap Value Fund will have an objective of long-term total return by investing in equity securities of U.S. companies with market capitalizations of approximately $1 billion to $10 billion at the time of initial investment. The portfolio typically will include approximately 30 to 40 securities. James M. Williams, Harbor Fund president, said, "This new fund brings to the Harbor family a strong portfolio manager with extensive experience in asset management, primarily for institutional clients and high-net-worth individuals." The new fund complements Harbor's existing offerings in the domestic value stock category -- Harbor Small Cap Value Fund (HASCX) and Harbor Large Cap Value Fund (HAVLX). Mr. Dalton said, "As value investors, we concentrate on companies that have improving fundamentals but are priced at a discount to their peers. Such companies typically deliver superior returns over the course of a market cycle." Harbor Fund Harbor Fund is a family of 14 actively managed no-load mutual funds. Other fees and expenses do apply to a continued investment in the funds and are described in the current prospectus. The minimum initial investment for all Harbor funds is $1,000 for regular accounts and $500 for IRA and custodial accounts and for Systematic Investment Plans. Harbor Fund is distributed through HCA Securities, Inc. Harbor Mid Cap Value Fund's performance may be more volatile because it invests primarily in mid cap companies. For more complete information, including the specific risks, fees and expenses associated with any of the Harbor funds, please contact Harbor Fund at 1-800-422-1050 or www.harborfund.com for a free prospectus. Read it carefully before investing.
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