Needham & Company, LLC, through its Adviser, Needham Investment Management LLC, provides investment opportunities in three distinctly characterized funds.

Needham Growth Fund (NASDAQ: NEEGX)

A SEC-registered, open-end, no-load public mutual fund, the Needham Growth Fund seeks long-term capital appreciation by investing primarily in the equity securities of growth companies with superior earnings prospects. For further information on the Needham Growth Fund, contact Needham Investment Management, LLC at 1-800-625-7071.

Needham Aggressive Growth Fund (NASDAQ: NEAGX)

A SEC-registered, open-end, no-load public mutual fund, the Needham Aggressive Growth Fund seeks long-term capital appreciation by investing primarily in the equity securities of public companies with prospective long-term growth rates that are strong and above average. For further information on the Needham Aggressive Growth Fund, contact Needham Investment Management, LLC at 1-800-625-7071.

Needham Small Cap Growth Fund (NASDAQ: NESGX)

A SEC-registered, open-end, no-load public mutual fund, the Needham Small Cap Growth Fund seeks long-term capital appreciation by investing primarily in the equities of smaller growth companies which the Fund believes are trading at a discount to their underlying value, yet have the potential for superior long-term growth. For further information on the Needham Small Cap Growth Fund, contact Needham Investment Management, LLC at 1-800-625-7071.

The following distributions were paid by the Needham Funds with record date 11/11/09, ex-date 11/12/09 and payable date 11/13/09:

Needham Growth Fund (NEEGX): No 2009 distribution.

Needham Aggressive Growth Fund (NEAGX): $0.015570 per share Long Term Capital Gain.

Needham Small Cap Growth Fund (NESGX): $0.012228 per share Long Term Capital Gain.

NEEDHAM FUNDS CHANGES SERVICE PROVIDER

At The Needham Funds, we are constantly striving to provide exceptional shareholder services. In an effort to better serve you, U.S. Bancorp Fund Services, LLC will officially take over as the fund administrator, fund accountant and custodian on June 7, 2010, and transfer agent for The Needham Funds on July 26, 2010, replacing Citi Fund Services Ohio, Inc. Shareholders will receive a letter with more details regarding this change in the near future.