Chicago, Illinois - Harbor Funds announced today that the Harbor Small Company Value Fund will cease operations effective at 4:00 p.m. Eastern time on Thursday, December 29, 2011. The Harbor Small Company Value Fund will be liquidated after the close of business on December 29, 2011 and the proceeds distributed to shareholders, who should receive their checks within a few days after that date. Prior to the liquidation, shareholders may exchange shares into another Harbor fund or redeem shares out of the Fund in accordance with Harbor's exchange and redemption policies. Because the Fund will be liquidating, the Fund is now closed to new investors.

The Harbor Small Company Value Fund has not been able to grow to a sufficient size since its inception in May of 2007 to become economically viable over the longer term. The Fund had net assets of approximately $11 million as of October 28, 2011.