The Needham Growth Fund seeks to create long-term capital appreciation for its shareholders by investing in equities of public companies with above average long-term growth rates at value prices.

These growth rates result from companies being at the vortex of rapid and fundamental change in the world economy resulting from technological, demographic and social change. In this manner, the Fund seeks to help long-term investors build wealth tax efficiently.

Bernard Lirola
Fund Manager since 1/08
Education:

École Polytechnique; Paris, France 1973

Harvard Business School, MBA 1976
Securities Industry Experience:
1976-1978       Smith Barney, Harris Upham & Co

1978-1990       CS First Boston; Head of First Boston’s M&A healthcare group
1990-1994       Swiss Bank Corporation; Head of U.S. M&A

1994-2007       Needham & Company, LLC; Co-Head of Investment Banking

2007                Needham Asset Management, LLC

Phone: 212-705-0298
blirola@needhamco.com

 "The attributes we seek in a stock are: good management, visible and predictable growth, attractive valuation."

November 14, 2007 - the Needham Growth Fund made an ordinary income distribution in the amount of $0.01 per share and a long-term capital gains distribution in the amount of $4.15 per share. This distribution has a record date of November 13, an ex-dividend date of November 14 and a payable date of November 15.

November 14, 2006 - the Needham Growth Fund made an ordinary income distribution in the amount of $0.09 per share and a long-term capital gains distribution in the amount of $3.00 per share. This distribution has a record date of November 13, an ex-dividend date of November 14 and a payable date of November 15.

February 9, 2006 - Bloomberg's newswire profiles the Needham Growth Fund ("Needham Managers Produce Top Returns With Out-of-Favor Stocks," by Danielle Kost). Text is online at http://archives.seattletimes.nwsource.com/cgi-bin/texis.cgi/web/vortex/display?slug=bloomfundmarch12&date=20060312.

December 23, 2005 - Vince Gallagher is quoted in a Smart Money.com article on what investment pros expect from the tech sector in 2006 ("Taking Stock of Tech Stocks," by Monica Rivituso). Text is online at http://www.smartmoney.com/Techsmart/index.cfm?story=20051223.

September 20, 2005 - Investors Business Daily profiles the Needham Growth Fund in "Needham Looks For Stocks Left Behind," page A8, by Murray Coleman.  Text is online at http://www.investors.com/editorial/IBDArticles.asp?artsec=19&issue=20050919 (subscription required for access).