HARRIS ASSOCIATES INVESTMENT TRUST
Supplement dated August 1, 2012 to the Summary Prospectus
of the Oakmark Equity and Income Fund dated January 27, 2012 (the "Summary Prospectus")

Effective August 1, the following replaces the table entitled "Shareholder Fees" on page 1 of the Summary Prospectus.

Shareholder Fees (fees paid directly from your investment)

	Class I		Class II
Maximum sales charge (load) imposed on purchases		None		None
Maximum deferred sales charge (load)		None		None
Redemption fee		None		None
Exchange fee		None		None

Re-opening of the Fund. Effective immediately, The Oakmark Equity and Income Fund is open to all new investors. The second paragraph under "Purchase and Sale of Fund Shares" on page 4 of the Summary Prospectus is deleted in its entirety.

SUMPROSUPAUG12-2