1-800-MUTUALS Advisor Series Replaces Arthur Andersen with Ernst & Young.

Business Editors

DALLAS--(BUSINESS WIRE)--March 28, 2002

MUTUALS.com, Inc. 1-800-MUTUALS Advisor Series, the fund family that is comprised of the five Generation-Wave funds managed by MUTUALS.com, Inc. has recently approved Ernst & Young as its new auditor, replacing Arthur Andersen.

Due to the recent issues relating to Arthur Andersen's involvement in the Enron scandal, MUTUALS.com said that it was in its shareholders' best interests to ask for Arthur Andersen's resignation and to immediately approve a new accounting firm to handle its needs. There were no disagreements regarding accounting matters and the motion was passed with unanimous approval from the fund family's audit committee.

"Since our founding eight years ago, we've made things very simple for our clients. The last thing we want to do is to allow our choice of accountants to interfere with a client's decision to embrace our philosophy and use our company," said Richard A. Sapio, CEO of MUTUALS.com, Inc.

Eric McDonald, company President, added, "Since we take a very long-term view of our business, we believe that Ernst & Young better fits our unique vision, mission, values, and purpose."

When questioned about their increased role, Mark Sinclair, a long-time partner at Ernst & Young, added, "Ernst & Young has worked with MUTUALS.com for many years, and we look forward to this opportunity to expand our relationship by now auditing their family of mutual funds."

Since 1994, MUTUALS.com, an SEC registered Investment Advisor, has advised and analyzed all mutual funds - currently numbering 11,716. The company has a patent-pending with the U.S. Patent and Trademark Office for its proprietary mutual fund selection/filtering system. MUTUALS.com manages a family of five mutual funds called the 1-800-MUTUALS Advisor Series: Generation-Wave Family of Funds. The company charges no loads, no transaction fees, and no commissions, which is key to its objective, unbiased approach.

Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. MUTUALS.com, Inc. is an NASD member firm. The 1-800-MUTUALS Advisor Series funds are distributed by Quasar Distributors, LLC.