First Investors Retools Its Mutual Fund Lineup

New York, NY, August 10, 2007 - To enhance its mutual fund product offerings, First Investors has made several changes to its fund lineup. Below is an outline of the changes:

Insured Tax Exempt Fund (FITE), which began operations in 1971, has reopened to new investors. FITE was closed to new investors (except in cases of investments of $1 million or more) for several years. Now, investors seeking a national tax-exempt fund have two funds from which to choose: FITE and FITE II. The Fund, which is managed by Clark Wagner, seeks a high level of interest income that is exempt from federal income tax and is not a tax preference item for purposes of the federal Alternative Minimum Tax ("AMT"), and, secondarily, total return.

Insured Tax Exempt Florida Fund has been merged into FITE.

Insured Intermediate Fund has also been merged into FITE. FITE was chosen as the recipient of these mergers because its objective of tax-exempt income closely matched the merged Funds' objectives.

Focused Equity Fund has been merged into the Blue Chip Fund. The Fund, which is managed by Matt Wright, seeks high total investment return by investing in the common stocks of large, well-established companies that have market capitalizations of greater than $5 billion.

Life Series Focused Equity Fund has become the Life Series Select Growth Fund. The Smith Asset Management Group is the Fund's subadviser. The Life Series Select Growth Fund seeks long-term capital growth, typically by investing in approximately 40-45 common stocks that offer the potential for growth at a reasonable level of risk.

First Investors has been in business since 1930. During that time we have successfully navigated many difficult economic periods in our nation’s history. Through the personalized service of financial services representatives located in our nationwide network of offices, First Investors uses a face-to-face approach to offer a range of products and services, including mutual funds, annuities and life insurance. Our representatives understand the cyclical nature of the markets, and work closely with clients to establish a disciplined approach to achieving long-term financial goals.

For more information on any First Investors fund, you may obtain a free prospectus by calling (800) 423-4026; writing to First Investors Corporation, 110 Wall Street, New York, NY 10005; or visiting the website www.firstinvestors.com. You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus contains this and other information about the fund, and should be read carefully before investing. An investment in a fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Past performance is no guarantee of future results.

First Investors Corporation
Executive Office
110 Wall Street
New York, NY 10005
(800) 423-4026
www.firstinvestors.com

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