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Press release from Business Wire

HighMark Capital Management Announces Enhancements to Its Family of HighMark Funds

<p class='bwalignc'> Merging of Funds and Fund Renames </p>

Monday, September 12, 2011

HighMark Capital Management Announces Enhancements to Its Family of HighMark Funds15:00 EDT Monday, September 12, 2011 SAN FRANCISCO (Business Wire) -- HighMark Capital Management, Inc., the investment adviser of HighMark Funds, and a proud member of Mitsubishi UFJ Financial Group Inc. (MUFG, NYSE:MTU), today announced several enhancements to its funds designed to better serve its shareholders including the merging of several equity and asset allocation funds and the renaming of the resulting funds for clarity. Merging of Funds and New Names The HighMark Funds Board has unanimously approved the merger of four Equity Funds and the renaming of the resulting two funds: HighMark Large Cap Core Equity Fund. Effective 10/31/11, HighMark Fundamental Equity Fund will merge with the HighMark Core Equity Fund. The new fund will be named HighMark Large Cap Core Equity Fund. HighMark Small Cap Core Fund. Effective 10/31/11, HighMark Small Cap Value Fund will merge into the HighMark Small Cap Advantage Fund. The new fund will be named HighMark Small Cap Core Fund. HighMark Funds also will combine four Asset Allocation Funds and change the resulting two fund names: HighMark Tactical Capital Growth Allocation Fund. Effective 10/31/11, HighMark Diversified Equity Allocation Fund will merge into Capital Growth Allocation Fund. The new fund will be named HighMark Tactical Capital Growth Allocation Fund. HighMark Tactical Growth & Income Allocation Fund. Effective 10/31/11, HighMark Income Plus Allocation Fund will merge into Growth & Income Allocation Fund. The new fund will be namedHighMark Tactical Growth & Income Allocation Fund. “We are continually evaluating our portfolios to respond to changes in the market so we can better serve the needs of our clients,” said HighMark Funds Managing Director Kevin Rowell. “By revitalizing our fund family through fund mergers and name clarity, we are well-positioned in the marketplace to better deliver value to our shareholders.” “HighMark is committed to helping clients achieve their long-term financial goals by providing high-quality products and services managed by seasoned in-house managers and select institutional sub-advisers who are leaders in the industry,” said HighMark Capital Management Chief Executive Officer and President Earle Malm. “HighMark's funds employ disciplined investment processes with the objective of delivering the opportunity for consistent long-term investment performance.” About HighMark Capital Management, Inc. San Francisco-based HighMark Capital Management, Inc. (HCM), is a registered investment adviser and a proud member of Mitsubishi UFJ Financial Group Inc. (MUFG, NYSE:MTU), one of the world's largest financial organizations. HCM is a wholly-owned subsidiary of Union Bank, N.A. Union Bank, N.A. is wholly owned by UnionBanCal Corporation. UnionBanCal Corporation is wholly-owned by The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group. HCM is also the adviser to the HighMark Funds, a nationally recognized fund company offering a wide range of mutual funds including fixed income funds, domestic and international equity funds, conservatively managed money market funds, and asset allocation portfolios. For more information on HighMark Funds' family of mutual funds and services, please visit www.highmarkfunds.com. HighMark Capital Management can be found at www.highmarkcapital.com. HighMark Funds Distributors, Inc., an affiliate of BNY Mellon Distributors Inc., is the principal underwriter of the HighMark Funds. HighMark Capital Management, Inc., a registered investment adviser, is a wholly owned subsidiary of Union Bank, N.A., and serves as an investment adviser for HighMark Funds. Union Bank, N.A., a subsidiary of UnionBanCal Corporation, provides certain services to the Funds and is compensated for these services. NO BANK GUARANTEE, NOT FDIC INSURED, MAY LOSE VALUE. There is no guarantee that the Funds will meet their stated objectives. Carefully consider the Funds' investment objectives, risks, charges and expenses. This and other information can be found in the Funds' prospectus, which may be obtained by calling 1.800.433.6884 or by visiting www.highmarkfunds.com. Read the prospectus carefully before investing. for HighMark Capital Management, Inc.Jane Yedinak, 415-765-3241jane.yedinak@unionbank.comJoanne Curran, 213-236-5017joanne.curran@unionbank.com