Press Releases

First Investors Reopens the Insured Tax Exempt Fund

New York, NY, August 27, 2007 - First Investors has reopened the Insured Tax Exempt Fund (FITE)to new investors. FITE had been closed for several years except in cases of investments of $1 million or more.

"We're happy to make FITE available to all investors," said Kathryn S. Head, Chairman. "Now, clients have two national tax-exempt funds from which to choose."

FITE began operations on August 3, 1977 as the nation's first insured tax exempt mutual fund. Its objective is to seek a high level of interest income that is exempt from federal income tax and is not a tax preference item for purposes of the Alternative Minimum Tax (AMT). Managed by Clark D. Wagner, the portfolio consists of municipal bonds issued throughout the United States and its territories.

"We're excited about the reopening of the Fund," said Mr. Wagner, the Director of Fixed Income. "We encourage clients to talk to their representatives about the benefits of the Insured Tax Exempt Fund. "

First Investors has been serving the financial needs of its clients since 1930. Through the personalized service of financial services representatives located in a national network of offices, the Company offers a range of products and services, including mutual funds, annuities and life insurance.

First Investors
110 Wall Street
New York, NY 10005
www.firstinvestors.com