Waddell & Reed, Ivy Funds Rank in Top 10 of Barron's List of 'Best Mutual Fund Families...

Waddell & Reed, Ivy Funds Rank in Top 10 of Barron's List of 'Best Mutual Fund
Families in a Bruising Year'

W&R Advisors Funds ranked #1 over the last five years

OVERLAND PARK, Kan., Feb. 6 /PRNewswire-FirstCall/ -- Waddell & Reed Advisors
Funds and Ivy Funds are again featured prominently in the list of "Best Mutual
Fund Families in a Bruising Year," an annual ranking of the best fund families
published by Barron's. According to the newspaper's Feb. 2, 2009 issue,
Waddell & Reed Advisors Funds were the fifth ranked fund family, and Ivy Funds
ranked number nine, out of 59 fund families. In addition, Waddell & Reed
Advisors Funds were the top ranked fund family, and Ivy Funds number three,
out of 53 fund families over the latest 5-year period.

According to the article, "...Waddell & Reed still has a sizable lead over its
rivals for five years." Barron's rankings are based on asset-weighted returns
in five categories: domestic equity, world equity (including international and
global portfolios), mixed equity (stocks and bonds), taxable bonds and tax
exempt funds. Rankings also take into account an individual fund's performance
within its Lipper peer group.

"Even in difficult times, it is important to maintain a longer-term
perspective and keep your goals in mind," said Hank Herrmann, CEO of Waddell &
Reed Financial, Inc., and Chairman of the Investment Policy Committee. "We're
pleased that the rankings, especially our five-year ranking, provide
significant support to our focus on patience and planning as the foundation
for broader financial goals."

Over the most recent 10 years, Waddell & Reed ranked 7th and Ivy Funds ranked
19th out of 48 firms. These 2008 rankings follow a #1 ranking for Waddell &
Reed over the one-year period in the 2007 Barron's review, which listed Ivy
Funds at #8.

"Despite the volatile markets, we never lose sight of the fact that we are
managing other people's money. In this challenging environment, we'll continue
to be defensive, as we expect equity markets to stay in a narrow trading
range," said Mike Avery, Chief Investment Officer of Waddell & Reed Investment
Management Company and Ivy Investment Management Company.

Both the Waddell & Reed Advisors and Ivy Fund families offer a broad fund
lineup covering all major asset categories, including international and
domestic equity funds, specialty funds, fixed income funds and money market
funds. The Ivy Funds were named the second fastest growing fund family in
2007, among families with at least $5 billion in total assets under
management, according to Financial Research Corporation (FRC).

To qualify for the Lipper/Barron's Fund Survey, a fund group must have at
least three funds in Lipper's general U.S.-stock category, as well as one in
world equity, which combines global and international funds. They also require
at least one mixed-equity fund, which holds both stocks and bonds. Fund shops
must also then have at least two taxable bond funds and one tax-exempt
offering.

Through its subsidiaries, Waddell & Reed Financial, Inc. (NYSE: WDR) provides
investment management and financial planning services to clients throughout
the United States. Waddell & Reed Investment Management Company serves as
investment advisor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy
Funds Variable Insurance Portfolios, Inc., and Waddell & Reed InvestEd
Portfolios, Inc., while Ivy Investment Management Company serves as investment
advisor to Ivy Funds, Inc. and the Ivy Funds portfolios. Waddell & Reed, Inc.
serves as principal underwriter and distributor to the Waddell & Reed Advisors
Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios, Inc. and
Waddell & Reed InvestEd Portfolios, Inc., while Ivy Funds Distributor, Inc.
serves as principal underwriter and distributor to Ivy Funds, Inc. and the Ivy
Funds portfolios.

Investors should consider the investment objectives, risks, charges and
expenses of a fund carefully before investing. For a prospectus containing
this and other information for any of the Waddell & Reed Advisors or Ivy
Funds, call your financial advisor or visit www.waddell.com or
www.ivyfunds.com. Please read the prospectus carefully before investing.

Investment return and principal value will fluctuate, and it is possible to
lose money by investing. Past performance is not a guarantee of future
results.

SOURCE Waddell & Reed Financial, Inc.

Investors, Nicole McIntosh, Director of Investor Relations, +1-913-236-1880,
or Media, Roger Hoadley, Director of Communications, +1-913-236-1993, both of
Waddell & Reed Financial, Inc.