UMB Fund Services Welcomes W.P. Stewart & Co. Growth Fund into Investment Managers Series Trust

UMB Fund Services, Inc. (“UMBFS”), a division of UMB Financial Corporation (NASDAQ: UMBF), and Mutual Fund Administration Corporation (“MFAC”) welcome the W.P. Stewart & Co. Growth Fund to the Investment Managers Series Trust (“IMST”). The W.P. Stewart & Co. Growth Fund officially became a part of the IMST in December 2009.

The W.P. Stewart & Co. Growth Fund (“WPSGX”) is an open-end, non-diversified management investment company that seeks to provide capital gains for its shareholders by primarily investing in a select number of high-quality, growing U.S. companies. The fund’s Advisor, W.P. Stewart & Co., Inc. (“WPS Inc.”), believes that investment returns follow earnings over time and thus focuses its investment research on companies it believes can predictably and sustainably grow earnings.

"We take great pride in our ability to provide funds like WPSGX with solutions that both reduce costs and enhance their capabilities," said John Zader, CEO of UMBFS and president of the IMST. "We are pleased the W.P. Stewart & Co. Growth Fund is now a part of the IMST, and we look forward to serving its current and future shareholders."

Mark Phelps, CEO of W.P. Stewart & Co., Ltd., the parent company of WPS Inc., said, "We are pleased to be partnered with UMBFS and MFAC, leading mutual fund service providers, as we focus on the dual goals of expanding WPSGX’s availability on bank and brokerage platforms and operating the fund more efficiently.”

The IMST offers a simple, cost-efficient means of operating a mutual fund. By allowing many independent funds to share certain fixed administrative costs and jointly negotiate rates for routine legal and tax services, the IMST attempts to reduce the expenses each fund would otherwise incur if managing a stand-alone mutual fund.

About UMB Fund Services

Headquartered in Milwaukee, Wis., UMB Fund Services offers a complete line of products and services to the fund industry, including administration and fund accounting, alternative investment services, investor services and transfer agency, marketing and distribution, custody and cash management. It currently serves more than 160 clients with combined assets of more than $160 billion. UMB Financial Corporation, the parent company of UMBFS and UMB Bank, n.a., is a $10 billion financial services holding company headquartered in Kansas City, Mo.

About Mutual Fund Administration Corp.

Mutual Fund Administration Corporation (MFAC) is a mutual fund administration services company specializing in fund formation and administration services. The Principals at MFAC have provided hands-on fund administration services to well over 100 mutual funds since 1990, including three successful multiple-series trusts composed of approximately 50 separate funds. In addition, MFAC's experienced staff has well over 20 years’ average experience organizing and managing successful mutual funds.

About W.P. Stewart & Co., Ltd. (“Firm”)

W.P. Stewart & Co., Ltd. is an asset management company that has provided research-intensive equity management services to retail and institutional clients throughout the world since 1975. January 2010 marked the Firm’s 35th anniversary. Since its inception in 1994, the W.P. Stewart & Co. Growth Fund has been managed by W.P. Stewart & Co., Inc., a subsidiary of the Firm.

The Firm is headquartered in Hamilton, Bermuda, and has additional operations or affiliates in the United States and Europe. The Firm's shares are listed for trading on the Bermuda Stock Exchange (BSX:WPS) and are currently traded in the U.S. on the Pink Sheets (Pink Sheets:WPSLF). As of December 31, 2009, the Firm managed $1.6 billion of assets.

For more information, please visit the Firm's website at www.wpstewart.com.

You should consider the W.P. Stewart & Co. Growth Fund’s investment objectives, risks, charges and expenses carefully before investing. For a prospectus, which contains this and other information about WPSGX, call (888) 881-8803 or go online at www.wpstewart.com. Please read it carefully before investing.

The W.P. Stewart & Co. Growth Fund is distributed by Grand Distribution Services, LLC.

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