<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-0106.txt
<DESCRIPTION>PRESS RELEASE
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                                  ^
                                  Diamond Hill
                                  ------------
                                  Investments


FOR IMMEDIATE RELEASE:
                                             Investor Contact:
                                             James F. Laird
                                             Chief Financial Officer
                                             614-255-3353
                                             E-mail: (jlaird@diamond-hill.com)

                  DIAMOND HILL FUNDS ELECT INDEPENDENT CHAIR


     Columbus,  Ohio -- January 26, 2006, -- Diamond Hill Funds announced that
Thomas E. Line was elected independent chairman of the board of trustees.  The
Diamond Hill Fund board of trustees, which has been comprised of all
independent members since December 2004, also includes Elizabeth P. Kessler
and George A. Skestos.  James F. Laird, president of Diamond Hill Funds
stated, "Tom, who currently serves as the chief financial officer of RED
Capital Group, has 16 years experience in the financial services industry,
including seven years with a big four accounting firm and six years in senior
positions with a mutual fund service company and an investment advisor.  Tom's
background in financial services, mutual funds and public accounting make him
extremely well qualified for this position and we are indeed fortunate that he
has agreed to serve the shareholders of Diamond Hill Funds."  Laird went on to
note, "Diamond Hill Funds takes its responsibilities to shareholders very
seriously and we hope that the election of an independent chair, which has
been strongly encouraged by the SEC, further reflects that commitment."

About Diamond Hill:
     Diamond Hill provides investment management services to individuals and
institutions seeking to preserve and build wealth. The firm currently manages
mutual funds, separate accounts and a private investment fund.  For more
information on Diamond Hill, visit www.diamond-hill.com.


                                     ###

            375 North Front Street, Suite 300, Columbus, Ohio 43215
                         614-255-3333  fax 614-255-3363
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