Alpha Analytics Value Fund's 3-Year Return Tops Morningstar's Large-Cap Blend Fund Category.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Jan. 14, 2002

Alpha Analytics Value Fund (AVFAX) had the highest return of any fund tracked by Morningstar in its large cap blend category for the three-year period ending December 31, 2001, according to Robert Gipson, president of Alpha Analytics, a Los Angeles-based mutual fund company.

Morningstar reported 3-year ratings for 865 large-cap blend funds. Large cap mutual funds typically invest in larger companies whose market capitalization is over $5 billion. The fund received Morningstar's five-star rating earlier this month for its three-year performance record.

The 3-year annualized return of the Fund was 17.22% compared to -0.93% for the average Large Cap Blend fund tracked by Morningstar and -1.03% for the S&P 500. Since inception on December 31, 1998, the Alpha Analytics Value Fund has not had a single down year. The annual returns for the Fund for 1999, 2000, and 2001 respectively were 46.73%, 5.75% and 3.81%.

For comparison, the returns for the S&P 500 Index for 1999, 2000 and 2001 were 21.04%, -9.1% and -11.88% respectively. The S&P 500 Index is an unmanaged market capitalization-weighted index of common stocks. You cannot invest directly in the S&P 500

"It has been a very challenging investment environment for the last three years," says Gipson. "The Value Fund continued to perform well despite the uncertain market conditions."

The Alpha Analytics Value Fund's mix of stocks and relative-value approach puts it into Morningstar's Large Cap Blend category, but it could also be considered a large-value fund, says Gipson. "If Morningstar included the fund in its Large-Value category, it would still be ranked number one in terms of return over the last 3-years," says Gipson. Morningstar reported 3-year returns for 648 large cap value funds.

"The question facing investors in 2002 is whether to be positioned aggressively in anticipation of economic growth or more cautiously," says Brian Barish, Alpha Analytics Value Fund manager. "Clearly, the benefits of a recovery will not be evenly distributed. We have taken a somewhat contrarian view that although there may indeed be an economic recovery in 2002, the vigor of such a recovery will be under whelming to many investors. Because of this, our portfolio is defensively positioned."

Alpha Analytics Value Fund's top 10 equity holdings as of 12/31/2001 were: BMC Software, Inc. (4.74%, BMC), Synopsys Incorporated (4.67%, SNPS), Schering Plough Corporation (4.01%, SGP), Sara Lee Corporation (3.82%, SLE), Guidant Corporation (3.65%, GDT), Aetna Inc. (3.31%, AET), Unisys Corporation (3.29%, UIS), U.S. Bancorp (3.27%, USB), Schlumberger Limited (3.18%,SLB) and Allianz AG ADR (3.1%, AZ).

Portfolio holdings are subject to change and should not be considered a recommendation to buy individual securities.

The minimum initial investment for the no-load Alpha Analytics Value Fund is $2,500 (IRA minimum: $2,000) with subsequent minimum investments of $250. For participants in Automatic Investment Plans, the initial investment is $1,000 with subsequent monthly investments of $100. The annual expense ratio is 1.30 percent (after a 0.2% fee waiver by the fund advisor).

The returns quoted above would have been lower had this fee waiver not been in place.

Alpha Analytics Investment Group, LLC is headquartered in Los Angeles, California with regional offices in Silver Spring, Maryland and in California's Silicon Valley.

For more information on the Alpha Analytics family of mutual funds including charges and expenses, or to receive a prospectus, contact Alpha Analytics toll free at 877/ALPHA40 (877/257-4240) or visit Alpha Analytics' website: www.AlphaAnalytics.com.

The fund is sold by prospectus only. Investors should read the prospectus carefully before investing. The equity market's reaction to investment dimensions and factors and their impact on equity returns can and do change over time. Past performance cannot guarantee future results.

The principal value and return of an investment will fluctuate, so shares when redeemed may be worth more or less than their original cost.

The Alpha Analytics Value Fund is available through Accutrade, Ameritrade, American Express Financial Advisors, American Express Brokerage, Brown & Co, Datalynx Advisors, Fidelity, Goldman Sachs, Pershing, Schwab's Mutual Fund OneSource(R), TD Waterhouse, Vanguard, Wall St Discount Corporation and other sources.

The Alpha Fund Family is distributed by Amerimutual Fund Distributors, Inc., Omaha, NE 68514. Member NASD/SIPC.

The star rating is (c)2002 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Past performance is no guarantee of future results.

Morningstar proprietary ratings reflect risk-adjusted performance through 12/31/01. The ratings are subject to change every month. Morningstar ratings are calculated from the funds's 3, 5 and 10-year returns (as applicable), with fee adjustments in excess of 90-day Treasury bill returns, and a risk factor that reflects fund performance below 90-day T-Bill returns.

A fund's overall rating is based on a weighted average of its 3,5 and 10 year ratings. The top 10% of the funds in a rating universe receive 5-stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Alpha Analytics Value Fund received a Morningstar Rating of 5-stars for the three-year period.

The fund was rated exclusively against 6647 US-domiciled funds.