Kalmar Investments

Welcome

From its headquarters in Wilmington, Delaware, Kalmar actively manages $2.8 billion in Small and SMid cap growth company stocks for institutional and individual investors, including some of the nation's prominent families, charitable institutions, endowments, foundations and retirement funds. Since our founding in 1982, Kalmar has offered separate account management for small cap equity investing to both taxable and tax-exempt clients. In 1997 the Kalmar "Growth-with-Value" Small Cap Fund was introduced. As of March 31, 2008, this open-end no-load mutual fund comprises approximately $328 million in assets. In 2001, Kalmar launched a SMid Cap “Growth-with-Value” product for separate account clients.

Kalmar's investment success for clients has been generated by our team-oriented, hands-on original research and our unique "Growth-with-Value" low turnover investment approach--Investing in Rapidly Growing yet Inefficiently Valued, Successful Small Companies.

KALMAR INVESTMENTS strives for strong performance through the cumulative melding of:

Growth	&	Value
Experience	&	Discipline
Creativity	&	Patience

Strong Long-Term Performance

A preponderant portion of the investments are in small cap stocks. Investments in small cap stocks involve greater risks than investments in larger, more established companies, are more volatile, and may suffer significant losses. Further, the market for small cap stocks is generally less liquid than the markets for larger stocks, which can contribute to increased price volatility of small cap stocks. Past performance is not necessarily an indication of future results.

Shares of the Kalmar Pooled Investment Trust are distributed by PFPC Distributors, Inc.

Essence of the Firm