Brazos Small Cap Fund Reopens.

Business Editors

DALLAS--(BUSINESS WIRE)--June 9, 2004

John McStay Investment Counsel ("JMIC") today announced that it has reopened Brazos Small Cap Fund (Ticker Symbol: BJSCX). The fund had been closed since March 2002.

Brazos Small Cap Fund is managed by a team of 12 seasoned investment professionals whose research process involves the application of bottom-up, fundamental research, as well as consistent communication with a company's senior level managers, suppliers, competitors, and customers in an attempt to understand the dynamics of each its business. JMIC researches individual businesses, and invests in those with strong growth in revenue, earnings and cash flow, modest financial leverage, predictable operating models, experienced management and unique products or services.

About John McStay Investment Counsel and the Brazos Mutual Funds

Dallas-based John McStay Investment Counsel, small- and mid-cap growth investing specialist, was founded in 1983. The firm currently oversees approximately $2 billion, primarily for institutional investors as well as the Brazos Mutual Funds. JMIC's portfolio managers have an average of 10 years with the firm, and an average of more than 17 years of investment experience. The firm is majority owned by American International Group, Inc. (NYSE: AIG).

For more complete information about the Brazos Funds, including risks, fees and expenses, institutional investors and financial advisors should obtain a prospectus by calling [phone]. Mutual fund investment involves risks, please read the prospectus carefully before investing.

Past performance is no guarantee of future results.

Mutual fund shares are not insured by the Federal Deposit Insurance Corporation. Investments in mutual fund shares involve risks, including possible loss of principal.