Fund Description Overview Invests in large, mid and small-cap companies in a number of different emerging market countries Seeks to buy and hold companies at a significant discount to their true worth, based on sophisticated computer screening and the Graham & Dodd investment principles Investment Objective The Fund seeks maximum long-term capital appreciation. Daily Prices as of 02/08/2010 Net Asset Value (NAV) $23.07 % Change -0.99 $ Change -0.23 Public Offering Price (POP) $24.48 YTD Return -11.13% Lookup Historical Prices Fund Facts Ticker Symbol NECAX CUSIP 44980R870 Inception Date Nov 28, 1994 Dividends Paid Annually Min. Initial Investment $1,000 More Info Related Resources Prospectus Fund Fact Sheet Annual Report Semi-Annual Report Complete Portfolio Holdings

Investment Style More Info Management Team Jan-Wim Derks Director of Global Emerging Markets Equities Managed Fund since 2008 Roberto Lampl Senior Investment Manager of Emerging Markets Equities Managed Fund since 2008 Michiel Bootsma Senior Investment Manager of Emerging Markets Equities Managed Fund since 2008 View Detailed Information

Average Annual Total Returns %

* Return calculations for the period beginning April 2, 2001 through June 30, 2002, reflect no deduction of a front-end sales charge. Return calculations for the period beginning July 1, 2002 through October 10, 2004, reflect the deduction of the maximum Class A sales charge of 4.75%. Effective, October 11, 2004, return calculations with a starting date on or after October 11, 2004 are based on a 2.50% sales charge.

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Current Maximum Sales Charge: 5.75%

¹ ING Funds Distributor, LLC has contractually agreed to waive 0.10% of the distribution fee for Class A shares of ING Emerging Countries Fund. The fee waiver will continue through at least March 1, 2010.

Index return calculations starting prior to December 31, 1998 are at Price. Index returns with a starting date January 31, 1999 are based on dividends reinvested.

Past performance is no guarantee of future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

SEC fund returns assume the reinvestment of dividends and capital gain distributions and include a sales charge. Net Asset Value fund returns assume the reinvestment of dividends and capital gain distributions. Total return for less than one year is not annualized. Results would have been less favorable if the sales charge were included.