Torray LLC 7501 Wisconsin Avenue, Suite 1100 Bethesda, Maryland 20814-6523 800-443-3036

Wednesday, March  10, 2010

The Torray Fund - 2009 Percent of earnings from U.S. Treasury obligations 0.00% Percent of earnings representing foreign income 0.00% Corporate dividends received deductions 100.00% Ordinary dividend qualifying for the 15% rate 100.00% The Torray Institutional Fund - 2009 Percent of earnings from U.S. Treasury obligations 0.00% Percent of earnings representing foreign income 0.00% Corporate dividends received deductions 100.00% Ordinary dividend qualifying for the 15% rate 100.00%

NAV for Tuesday, March 9, 2010 SYMBOL CLOSE CHANGE YTD% TORYX $27.68 +0.06 3.44% TORRX $64.80 +0.14 3.20% The returns quoted represent past performance, and they do not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher. The Torray Fund's Annual Operating Expense Ratio, as stated in the current prospectus, is 1.13%. Torray Fund Standardized Total Returns The Torray Institutional Fund's Annual Operating Expense Ratio, as stated in the current prospectus, is 0.85%. Torray Institutional Fund Standardized Total Returns

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