December 17, 2009 --
William Blair & Company, LLC, distributor to the William Blair Funds, announces year-end distributions for the Funds. Distributions will be paid to shareholders of record as of Wednesday, December 16, 2009. The record date, ex-dividend date, and the payment date are as follows:

• Record date: Wednesday, December 16, 2009
• Ex-dividend and Reinvestment date: Thursday, December 17, 2009
• Payable date: Friday, December 18, 2009 

	Income Dividend		Class I and Class N Capital Gain Distribution
Fund Name	Class I	Class N	Short-Term	Long-Term
Growth Fund	$0.00165	None	None	None
Large Cap Growth Fund	$0.00436	None	None	None
Small Cap Growth Fund	None	None	None	None
Mid Cap Growth Fund	None	None	None	None
Small-Mid Cap Growth Fund	$0.00003	None	None	None
Emerging Markets Growth Fund	$0.12722	$0.09610	None	None
Emerging Leaders Growth Fund	$0.11113	--	None	None
Global Growth Fund	$0.00068	None	None	None
International Equity Fund	$0.05757	$0.00901	None	None
International Growth Fund	$0.15870	$0.11368	None	None
International Small Cap Growth	$0.01586	None	None	None
Value Discovery Fund	$0.04352	$0.02539	None	None
Income Fund	$0.08172	$0.08277	None	None
Bond Fund	$0.06388	$0.06196	None	None
Institutional Funds
Bond Fund – Institutional Class Shares	$0.06584	--	None	None
Institutional International Growth	$0.16532	--	None	None
Institutional International Equity	$0.07368	--	None	None
International Small Cap Growth – Institutional Class Shares	$0.02864	--	None	None
Emerging Markets Growth Fund – Institutional Class Shares	$0.14486	--	None	None
Emerging Leaders Growth Fund – Institutional Class Shares	$0.11941	--	None	None

Please note that each Fund’s closing net asset value (NAV) on Thursday, December 17, 2009 will be reduced by the amount of the distribution, plus or minus any market activity for the day.   

As always, please consult your tax advisor for information specific to your particular situation.