Gross Expense Ratio: 1.34%

Net Expense Ratio: 1.08%

The Gross Expense Ratio is based on the most recent prospectus.  The Fund's advisor has contractually agreed to limit the fees for the period from July 1, 2007 through June 30, 2008.  The Net Expense Ratio is based upon the Gross Expense less the fees waived by the advisor.  Had this waiver not been in effect, the performance would have been lower. 

The Distribution Yield indicates the amount of  income dividends and capital gains that the Fund actually pays out. SEC 30-Day Yield is based on a 30-day period and is computed by dividing the net investment income per share earned during the period by the maximum offering price per share on the last day of the period.

¹The performance information prior to July 1, 1999 represents performance records of the private pools previously managed by the Presbyterian Church (U.S.A.) Foundation, the predecessor entity to the Advisor. These private pools had investment objectives and policies in all material respects equivalent to those of the Funds. They were not subject to the requirements of the Investment Company Act of 1940 or the Internal Revenue Code of 1986, which may adversely affect performance results. The performance has been restated to reflect the total estimated expenses of the Funds and assumes reinvestment of dividends and distributions.