ICON Advisers Names Legal Department Hires

GREENWOOD VILLAGE, Colo.--()--Sept. 19, 2005--ICON Advisers, Inc. is pleased to announce the appointment of Donald Salcito to General Counsel, and Stephen Abrams to Associate General Counsel.

Mr. Salcito has over 25 years of experience in the areas of broker-dealer regulation, securities law, corporate transaction and mergers and acquisition, most recently as a partner with Perkins Coie. Salcito has also served as general counsel, director and executive vice president of an NYSE broker-dealer prior to joining Perkins Coie. Salcito received a juris doctorate from the University of Arizona in 1979 and a bachelor's degree from the University of Connecticut in 1975.

Mr. Abrams was also most recently a partner with Perkins Coie and devoted much of his practice to securities litigation and transactional work. Abrams received a juris doctorate from Yeshiva University, Benjamin N. Cardozo School of Law of New York in 1992 and an Artium Baccalaureatus degree from Brown University in 1987.

"The combination of Don and Stephen's regulatory expertise will add value to ICON's overall compliance process and bring added depth to our legal efforts," said Craig Callahan, ICON's founder and president.

ICON Advisers, Inc. is a valuation-based asset manager that utilizes industry and sector rotation to identify market themes in the U.S. and overseas. Headquartered near Denver, Colo., ICON has more than $4 billion under management as of June 30, 2005(a). ICON Advisers, Inc. offers the ICON Funds, mutual fund allocation portfolios, separately managed accounts and subadvises variable annuity portfolios.

Editor's Note: Securities and Exchange Commission regulations require the following statement in this press release: Consider the investment objectives, risks, charges, expenses, and share classes of each ICON Fund carefully before investing. The prospectus contains this and other information about the Funds and is available by visiting www.iconadvisers.com or calling 1-800-764-0442. Please read the prospectus carefully before investing. There are risks involved with mutual fund investing, including the risk of loss of principal. An investment concentrated in sectors and industries may involve greater risk and volatility than a more diversified investment. ICON Distributors, Inc., Distributor. (a) Assets under management include mutual fund assets, assets in mutual fund allocation portfolios that invest in the ICON Funds, institutional, and separate accounts.

Contacts

ICON Advisers
Cynthia Crossland, 303-917-2171
ccrossland@iconadvisers.com

Contacts

ICON Advisers
Cynthia Crossland, 303-917-2171
ccrossland@iconadvisers.com