Press Release

RiverSource Investments Launches New Mutual Funds Including RiverSource Retirement Plus^® Series

Eight new target-date funds-of-funds feature quantitative management and asset allocation strategies that span work and retirement years for investors

MINNEAPOLIS — (June 13, 2006) — RiverSource Investments, LLC, a subsidiary of Ameriprise Financial, Inc. (NYSE:AMP), launched 10 new mutual funds: eight RiverSource Retirement Plus Series target-date funds-of-funds, RiverSource^SM Disciplined International Equity Fund and RiverSource^SM Disciplined Small and Mid Cap Equity Fund. The funds are currently available to both institutional retirement plan sponsors and to individual investors through Ameriprise financial advisors.

RiverSource Retirement Plus Series target maturity funds are designed to be a core component of retirement investing strategies such as defined contribution plans, IRAs and other qualified plans. Through a disciplined, quantitative approach, the eight funds are designed to seek long-term returns while adjusting risk during the years leading up to and beyond the targeted retirement date.

"Our goal is to provide a holistic, value-added approach to target maturity funds – one that is new to the competitive landscape," said Paula Meyer, president of RiverSource Funds. "RiverSource Retirement Plus Series offers a unique retirement solution that leverages our proprietary quantitative capabilities and helps retirement plan sponsors meet plan objectives while enabling them to offer investors simplicity in their retirement investments."

Professionally managed through all phases of an individual's retirement – from asset accumulation to income withdrawal – RiverSource Retirement Plus Series provides a simplified funds-of-funds solution that helps investors achieve the asset allocation and continuous rebalancing necessary to support growth during the accumulation years and sustainable, inflation-adjusted withdrawals that may cover 25 years or more during the retirement years.

The RiverSource Retirement Plus Funds are designed to work for investors throughout their lives, adjusting to meet their needs as they progress up to and through retirement. Unlike some other target maturity funds that may shift to static allocations shortly after or on the target date, RiverSource Retirement Plus Series begins with a relatively large equity position and continues to lower the equity allocation gradually all the way to age 90 (assuming a retirement age of 65). This approach seeks to optimize total return during the retirement years, helping minimize the risk of outliving income as well as the financial distress associated with volatile markets.

Investors simply select a retirement date from among the eight funds in the series:

• RiverSource Retirement Plus^® Fund - 2010
• RiverSource Retirement Plus^® Fund - 2015
• RiverSource Retirement Plus^® Fund - 2020
• RiverSource Retirement Plus^® Fund - 2025
• RiverSource Retirement Plus^® Fund - 2030
• RiverSource Retirement Plus^® Fund - 2035
• RiverSource Retirement Plus^® Fund - 2040
• RiverSource Retirement Plus^® Fund - 2045

The RiverSource Investments Disciplined Equity and Asset Allocation team in Cambridge, Mass. is responsible for the strategic and tactical allocation of assets and managing the underlying equity funds. The fixed income funds are managed by the RiverSource Investments Fixed Income team.

In addition to RiverSource Retirement Plus Series, RiverSource Investments launched two new mutual funds that complete the array of underlying funds in which RiverSource Retirement Plus Series invests. These two funds are also available individually.

RiverSource Disciplined International Equity Fund

Managed by the Disciplined Equity and Asset Allocation team in Cambridge, the Fund seeks to provide shareholders with long-term capital growth. The Fund's assets primarily are invested in equity securities of foreign issuers. The Fund may invest in stocks of both developed and emerging markets issuers. The management team uses proprietary, disciplined quantitative methods based on statistical analysis of valuation, momentum and quality-adjusted valuation.

RiverSource Disciplined Small and Mid Cap Equity Fund

Also managed by the Disciplined Equity and Asset Allocation team in Cambridge, the fund seeks to provide shareholders with long-term capital growth by investing primarily in equity securities of companies with market capitalization of up to $5 billion or that fall within the range of the Russell 2500 Index at the time of investment. The management team uses proprietary, disciplined quantitative methods based on statistical analysis of valuation, momentum, and quality-adjusted valuation.

The complete array of underlying funds available to the RiverSource Retirement Plus Series funds are:

• RiverSource^SM Disciplined Equity Fund
• RiverSource^SM Disciplined International Equity Fund
• RiverSource^SM Disciplined Small and Mid Cap Equity Fund
• RiverSource^SM Cash Management Fund
• RiverSource^SM Diversified Bond Fund
• RiverSource^SM Emerging Market Bond Fund
• RiverSource^SM Global Bond Fund
• RiverSource^SM High Yield Bond Fund

"RiverSource Retirement Plus Series is an ideal solution for 401(k) plan sponsors and their participants that aligns with our goal of providing institutional investors with innovative solutions that can help them reach their goals," said Steve Moen, vice president and head of defined contribution investment services.

Portfolio management and asset allocation for RiverSource Retirement Plus Series is provided by two teams:

• The RiverSource Investments Disciplined Equity and Asset Allocation Team employs unique quantitative investment and trading methodologies to manage a global range of assets. The team, led by senior portfolio manager Dr. Dimitris Bertsimas, a member of the Massachusetts Institute of Technology faculty since 1988, is responsible for strategic and tactical allocation of assets in the RiverSource Retirement Plus Series.
• The RiverSource Fixed Income Team applies a sector team approach to managing the fixed income markets. Each sector team represents a deep specialization and dedication to a type of bond, such as mortgage or corporate bonds. Individual teams or combinations of teams are responsible for managing the underlying RiverSource fixed income mutual funds contained within the RiverSource Retirement Plus Series.

About RiverSource Investments

RiverSource Investments develops and manages asset growth, preservation and income solutions that revolve around the needs of today's investors. The firm's specialized investment platform provides access to investment and research professionals located in strategic investment centers in the U.S. and overseas. As a leading source of investment insight and innovation, RiverSource Investments delivers a full range of solutions across the risk return spectrum, to retail investors and their advisors and to institutional investors including corporations, pension funds, governments, foundations and endowments. For more information, visit www.riversource.com/investments.

RiverSource Investments, LLC is an SEC-registered investment adviser that offers investment products and services under the names RiverSource Institutional Advisors, RiverSource Alternative Investments, RiverSource Capital Management and RiverSource Insurance Assets.

About Ameriprise Financial

Ameriprise Financial, Inc. is a leading financial planning and services company that provides solutions for clients' asset accumulation, income management and insurance protection needs. Through a nationwide network of more than 10,000 financial advisors, Ameriprise Financial delivers tailored solutions to clients through a comprehensive and personalized financial planning approach built on a long-term relationship with a knowledgeable advisor. The Company specializes in meeting the retirement-related financial needs of the mass affluent. Financial advisory services and investments are available through Ameriprise Financial Services, Member FINRA and SIPC. For more information, visit www.ameriprise.com.

You should consider the investment objective, risks, charges and expenses for a fund carefully before investing. For a free copy of a prospectus, which contains this and other information about RiverSource Funds, please call (888) 791-3380 or visit www.riversource.com/investments. Read the prospectus carefully before you invest.

Investment products, including shares of mutual funds, involve risks including possible loss of principal and fluctuation in value.

Stocks of small- and mid-capitalization companies involve substantial risk. Historically, these stocks have experienced greater price volatility than stocks of larger companies, and they can be expected to do so in the future.

There are risks associated with an investment in a bond fund, including credit risk, interest rate risk, and prepayment and extension risk. See the Fund's prospectus for information on these and other risks associated with the Fund. Generally, bond prices rise when interest rates fall and vice versa. This effect is usually more pronounced for longer-term securities. Non-investment grade securities, commonly called "high-yield" or "junk" bonds, generally have more volatile prices and carry more risk to principal and income than investment grade securities.

International investing involves increased risk and volatility, not typically associated with domestic investing, due to potential political and economic instability, limited liquidity, volatile prices, lack of accounting, auditing, and financial reporting standards, changes in currency exchange rates, and differences in how trades are cleared and settled. Risks are particularly significant in emerging markets due to the dramatic pace of economic, social, and political change.

The RiverSource Retirement Plus, Portfolio Builder, and Income builder Series funds are "funds of funds" comprised of holdings in several different RiverSource Funds, which may include small-cap, mid-cap, large-cap, money market, international, bond, and/or sector funds. Each of the underlying funds in which the portfolio invests has its own investment risks, and those risks can affect the value of each portfolio's shares and investments. See the Fund's prospectus for specific risks that may be associated with the underlying funds.

Russell 2500 Index measures the performance of the 2,500 smallest companies in the Russell 3000 Index, which represents approximately 16% of the total market capitalization of the Russell 3000 Index. As of the latest reconstitution, the average market capitalization was approximately $1.1 billion; the median market capitalization was approximately $705.8 million. The largest company in the index had an approximate market capitalization of $4.5 billion.

Asset allocation and diversification do not assure a profit or protect against loss.

RiverSource Funds^SM are managed by RiverSource Investments, LLC and distributed by Ameriprise Financial Services, Inc., Member FINRA. Both companies are part of Ameriprise Financial, Inc.

For more information, please contact Ryan Lund at 612-671-3459, ryan.s.lund@ampf.com or Todd Wold at 612-671-6583, todd.wold@ampf.com

Media Contacts

Benjamin Pratt
Vice President, External Communications
(612) 678-5881
(612) 671-5112 (fax)
benjamin.j.pratt@ampf.com

For RiverSource Investments, Institutional Advisors, Insurance and Annuities

Ryan Lund
Director, Media Relations
(612) 671-3459
(612) 671-5112 (fax)
ryan.s.lund@ampf.com

For RiverSource Insurance and Annuities

Todd Wold
Manager, Media Relations
(612) 671-6583
(612) 671-5112 (fax)
todd.wold@ampf.com