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Tuesday, October 07, 2008

Another Fund Company Opts for a Guarantee

News summary by MFWire's editors

Another fund company has signed up for the Treasury's money market fund guarantee program ahead of the October 8 deadline. The Hartford has told its investors that it will be joining the program.

Company Press Release

The Hartford Money Market Fund and the Hartford Money Market HLS Fund will participate in the new money market fund guaranty program recently established by the U.S. Treasury. Shareholders in The Hartford's money market funds as of September 19 will be eligible for all of the program's benefits.

The decision to participate was driven by a desire on the part of The Hartford Mutual Funds to provide protection and peace of mind to money market fund shareholders during a historically volatile market period.

"The Hartford Mutual Funds is focused on doing what is right for our long-term shareholders," said Robert Arena, executive vice president and director of The Hartford's retail investment products group.

Arena added, "In the case of The Hartford money market funds, this means continuing to deliver on our money market funds' objective of preserving clients' principal while providing liquidity and current income. We are also pleased to participate in the new guaranty program as it provides shareholders an additional level of assurance in these volatile markets."

Also, as previously stated, The Hartford money market funds do not hold any Lehman Brothers debt in their portfolios.

For a current list of holdings (as of October 3, 2008), please refer to the fund details for The Hartford money market fund you own

Edited by: Erin Kello

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