SAN FRANCISCO, December 7, 2007 -- The Forward Funds have announced short- and long-term capital gain distributions. Shareholders of record as of December 6, 2007 are eligible to receive capital gain distributions, and each fund's capital gain distribution amount per share is the same across all share classes.
| Declaration Date: |
December 5, 2007 |
| Record Date |
December 6, 2007 |
| Ex-Date, Reinvest Date and Payable Date: |
December 7, 2007 |
| |
|
Per Share
Available Distribution |
Percentage of NAV |
Forward Funds |
Ticker
Symbol |
Short-Term Capital Gain |
Long-Term Capital Gain |
Short-Term Capital Gain |
Long-Term Capital Gain |
| Forward Emerald Banking and Finance |
HSSAX;HSSCX |
0.154383 |
3.145603 |
0.66% |
13.44% |
| Forward Emerald Growth |
HSPGX;HSPCX |
0.000000 |
1.478661 |
0.00% |
10.14% |
| Forward Emerald Opportunities |
HSYTX;HSYCX |
0.000000 |
0.000000 |
0.00% |
0.00% |
| Forward Global Emerging Markets |
PGERX;PTEMX |
2.010256 |
1.540421 |
5.96% |
4.56% |
| Forward Hoover Mini-Cap |
FFHMX;FFMIX |
1.296717 |
0.800674 |
6.67% |
4.12% |
| Forward Hoover Small Cap Equity |
FFSCX;
FFHIX;FFHAX |
0.860171 |
1.434054 |
3.82% |
6.37% |
| Forward International Equity |
FFINX;FFIEX |
0.628657 |
0.546485 |
2.95% |
2.56% |
| Forward International Fixed Income |
FFXRX;FFXIX;
FFXAX;FFXCX |
0.000000 |
0.000000 |
0.00% |
0.00% |
| Forward International Small Companies |
PISRX;
PTSCX;FFIAX |
0.843640 |
0.751433 |
4.20% |
3.74% |
| Forward Large Cap Equity |
FFLAX;FFLSX |
0.000000 |
0.000000 |
0.00% |
0.00% |
| Forward Legato |
FFLMX |
0.047374 |
1.254073 |
0.35% |
9.36% |
| Forward Long/Short Credit Analysis |
FLSDX |
0.000000 |
0.000000 |
0.00% |
0.00% |
| Forward Progressive Real Estate |
FFREX |
0.096612 |
3.000334 |
0.52% |
16.07% |
| Sierra Club Stock |
SCFSX;FSUSX |
0.101907 |
0.000000 |
0.85% |
0.00% |
Only capital gain distributions will be paid on December 7, 2007 and the distribution amounts will be subtracted from each specific fund’s closing price per share on December 7, 2007. Ordinary income distributions, if available, will be paid on December 28, 2007 to shareholders of record as of December 27, 2007. If you have any questions, please visit www.forwardfunds.com or call (800) 999-6809.
You should consider the investment objectives, risks, charges and expenses carefully before investing. A prospectus with this and other
information about the funds may be obtained by calling (800) 999-6809 or by downloading one from www.forwardfunds.com. It should be read carefully before investing.
Small company stocks are generally riskier than large company stocks due to greater volatility and less liquidity. Investing in foreign securities will involve certain additional risks, including exchange rate fluctuation, less liquidity, greater volatility and less regulation. Real estate funds will be subject to a higher degree of market risk due to concentration in a specific industry or in geographic regions. Investments in real estate and REITS have various risks including vacancies and devaluation based upon adverse economic or regulatory changes. High-yield bonds involve a greater risk of default and price volatility than U.S. Government and other high quality bonds. High-yield/high-risk bonds can experience sudden and sharp price swings which will affect net asset value. Funds that
concentrate in a particular industry will involve a greater degree of risk than a fund with a more diversified portfolio.
There are risks involved with investing, including loss of principal. Past performance does not guarantee future results.
Forward Funds are distributed by ALPS Distributors, Inc.
©2007 Forward Funds. All rights reserved.
FWD001184 123108
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