Bridgeway Capital Management Appoints Kyle Mylius to Lead Institutional Business Development.

HOUSTON -- Bridgeway Capital Management (Bridgeway) announced today that Kyle V. Mylius, CFA, has joined the firm and will be responsible for Bridgeway's business development in the institutional client and investment consultant communities. A Houston-based asset manager employing quantitative investment strategies since its founding in 1993, Bridgeway currently manages $6 billion in assets for mutual funds, separate accounts and as a sub-adviser.

"From our roots in the early '90s as a specialist known for small-cap oriented strategies, our focus over the last decade has been to develop our disciplines across all capitalization ranges," said Mike Rome, head of Bridgeway's business development group. "We believe the track records we've established, as well as Bridgeway's stewardship-focused culture, put the firm in a unique competitive position in the institutional marketplace. We're privileged to have someone of Kyle's caliber join us to take the lead in our business development on behalf of institutional clients and consultants."

Mr. Mylius began his investment career in 1989 with Criterion Investment Management Company, a fixed-income management firm. In 1995, he joined Mellon Financial Corporation, where he was responsible for client service and sales for Russell/Mellon Analytical Services, a joint-venture company owned by Mellon and Russell Investment Group. Prior to joining Bridgeway, Mr. Mylius serviced institutional clients and consultant relationships for Rainier Investment Management. He is a CFA charterholder and received a Bachelor of Business Administration with a major in Finance from the University of Texas at Austin. He is a member of the CFA Institute and the Seattle Society of Financial Analysts.

About Bridgeway Capital Management

Established in Houston in 1993, Bridgeway Capital Management, Inc., is an investment adviser for $6 billion in assets for mutual funds, separate accounts, and sub-advised accounts. Bridgeway is the adviser to the Bridgeway Funds, a series of 11 no-load mutual funds, which offer investors a range of quantitatively-managed strategies focused in specific market-cap segments, as well as funds designed for aggressive and conservative investors. Bridgeway is committed to a philanthropic mission, donating one-half of its annual after-tax profits to support charitable and non-profit organizations. More information on Bridgeway's investment team and disciplines, each of the Bridgeway Funds, and the firm's charitable efforts, is available at www.bridgeway.com.

There are risks involved with investing in mutual funds, including loss of principal. Market volatility can significantly impact short-term performance. The Funds are not appropriate investments for short-term investors. Investments in small companies generally carry greater risk than is customarily associated with larger companies. This additional risk is attributable to a number of factors, including the relatively limited financial resources that are typically available to small companies, and the fact that small companies often have comparatively limited product lines. In addition, the stock of small companies tends to be more volatile than the stock of large companies, particularly in the short term and particularly in the early stages of an economic or market downturn. Shareholders of the Funds, therefore, are taking on more risk than they would if they invested in the stock market as a whole.

Before investing you should carefully consider a Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling 1-800-661-3550 or visiting the Fund's website at www.bridgeway.com. Please read the prospectus carefully before you invest.

The Funds are distributed by Foreside Fund Services, LLC, which is not affiliated with Bridgeway Capital Management, Inc., or any other affiliate.