Marsico Capital Management Announces Purchase of Firm from Bank of America

DENVER--(BUSINESS WIRE)--Thomas F. Marsico, founder and Chief Executive Officer of Marsico Capital Management, LLC (MCM), a Denver-based investment management firm, announced today that he has signed a definitive agreement to acquire MCM from Bank of America.

Terms were not disclosed. The transaction is expected to close during the fourth quarter of 2007, and is subject to customary client consents and mutual fund shareholder approvals.

“I am pleased and proud that MCM will be an independent investment management firm,” said Mr. Marsico, 51. “We feel this transaction solidifies MCM’s foundation, and helps ensure a long-term, successful future for our Company. We have benefited greatly from our relationship with Bank of America for nearly 10 years, and we look forward to working closely with the Bank for many years to come.”

MCM, established in 1997, has approximately $94 billion of assets under management and 71 employees. The Company serves as investment adviser to The Marsico Investment Fund (also known as the Marsico Funds), an open-end mutual fund family. MCM also serves as sub-adviser to various mutual funds, variable insurance funds, separately managed “wrap” accounts, and manages assets for a variety of institutional clients including corporate retirement plans, college/university endowments, and foundations. MCM specializes in the management of growth-oriented equity strategies, including US large-capitalization, US all-capitalization, and international. MCM also is planning to launch a global equity strategy in the near future.