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About the March 2008 RiverSource mutual fund mergers

In September 2007, RiverSource Investments announced several mutual fund mergers designed to improve our fund offerings, which required shareholder approval by way of a proxy vote. All of the changes proposed in the proxy vote were approved by shareholders on Jan. 29, 2008.

Effective March 17, 2008, seven current retail funds merged into a corresponding RiverSource® mutual fund that has a substantially similar investment objective and principal investment strategy. (In addition, one RiverSource Variable Portfolio fund merged into an existing RiverSource fund effective March 10, 2008.) Please see the box below for fund merger information.

This fund merged into this RiverSource fund
RiverSource Massachusetts Tax-Exempt Fund merged into RiverSource Tax-Exempt High Income Fund
RiverSource Michigan Tax-Exempt Fund merged into RiverSource Tax-Exempt High Income Fund
RiverSource Ohio Tax-Exempt Fund merged into RiverSource Tax-Exempt High Income Fund
RiverSource Core Bond Fund merged into RiverSource Diversified Bond Fund
RiverSource Variable Portfolio Core Bond Fund merged into RiverSource Variable Portfolio Diversified Bond Fund
RiverSource Fundamental Growth Fund merged into RiverSource Growth Fund
RiverSource Value Fund merged into RiverSource Diversified Equity Income Fund
RiverSource International Equity Fund merged into RiverSource Disciplined International Equity Fund

Investment products, including shares of mutual funds, are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value. Investing in certain funds involves special risk, such as those related to investments in foreign securities, small- and mid-capitalization stocks, fixed income securities (especially high-yield securities), and funds which focus their investments in a particular sector, such as real estate, technology, and precious metals. When discussing one of these funds with clients or prospects, please be sure to discuss the risks specific to each fund.

Variable Portfolio Funds are not available for direct investment. They are only available within a variable product.

You should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. To learn more about this and other important information about the funds, download a free prospectus. Read the prospectus carefully before investing.

RiverSource® mutual funds are distributed by RiverSource Distributors, Inc., Member FINRA, and managed by RiverSource Investments, LLC. These companies are part of Ameriprise Financial, Inc.