Pzena Investment Management, Inc. Announces June 30, 2009 Assets under Management

NEW YORK--(Business Wire)--
Pzena Investment Management, Inc. (NYSE: PZN) today reported its preliminary
assets under management as of June 30, 2009.

AUM for month-end June 2009, month-end May 2009, and month-end June 2008 are
listed below:

Pzena Investment Management, Inc.

Assets Under Management

($ billions)

As of As of As of
June 30, 2009 May 31, 2009 June 30, 2008
Large Cap Value $5 .5 $5 .4 $10 .0
Value Service 1 .7 1 .7 3 .8
Other Domestic 0 .9 0 .9 1 .6
Global/International 2 .5 2 .8 3 .1
Total $10 .6 $10 .8 $18 .5

Separately-Managed Accounts $6 .8 $6 .7 $11 .4
Sub-Advised Accounts 3 .8 4 .1 7 .1
Total $10 .6 $10 .8 $18 .5

Note: Numbers may be subject to rounding.

About Pzena

Pzena Investment Management, LLC, the firm`s operating company, is a
value-oriented investment management firm. Founded in 1995, Pzena Investment
Management has built a diverse, global client base. More firm and stock
information is posted at www.pzena.com.

Forward-Looking Statements

This press release may contain, in addition to historical information,
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are based on the
company's current assumptions, expectations and projections about future events.
Words like "believe," "anticipate," "intend," "estimate," "expect," "project,"
and similar expressions are used to identify forward-looking statements,
although not all forward-looking statements contain these words. These
forward-looking statements are necessarily estimates reflecting the best
judgment of the company's management and involve a number of risks,
uncertainties and assumptions that could cause actual results to differ
materially from those expressed or implied by the forward-looking statements.

Among the factors that could cause actual results to differ from those expressed
or implied by a forward-looking statement are those described in the sections
entitled "Risk Factors" and "Management`s Discussion and Analysis of Financial
Condition and Results of Operations" in the Company`s Annual Report on Form
10-K, as filed with the SEC on March 13, 2009 and in the Company`s Quarterly
Reports on Form 10-Q as filed with the SEC. Other unknown or unpredictable
factors also could have material adverse effects on the company's future
results, performance, or achievements. In light of these risks, uncertainties,
assumptions, and factors, actual results could differ materially from those
expressed or implied in the forward-looking statements. You are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of
the date stated, or if no date is stated, as of the date of this release.

The company is not under any obligation and does not intend to make publicly
available any update or other revisions to any forward-looking statements to
reflect circumstances existing after the date of this release or to reflect the
occurrence of future events even if experience or future events make it clear
that any expected results expressed or implied by those forward-looking
statements will not be realized.

Pzena Investment Management, Inc.
Lawrence Kohn, 212-355-1600
kohn@pzena.com.

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