The Fund inception date was June 30, 2000 Market Close Date Share Price 10/08/2004 $11.20 Performance Summary - Quarterly Year To Date 12/31/2003-09/30/2004 -7.89% 1 Year 09/30/2003-09/30/2004 3.13% 3 Year 09/30/2001-09/30/2004 17.66% Since Inception (Annualized) 06/30/2000-09/30/2004 -7.31% Performance Summary - Monthly Year To Date 12/31/2003-10/08/2004 -5.00% 1 Year 09/30/2003-09/30/2004 3.13% 3 Year 09/30/2001-09/30/2004 17.66% Since Inception (Annualized) 06/30/2000-09/30/2004 -7.31 The performance data quoted represents past performance. The investment return and principal value of an investment in the Golden Gate Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Please carefully read the prospectus for complete information about the fund, including charges, expenses and risks associated with a geographically concentrated fund. Advised by Collins & Company, LLC. Member NYSE, NASD, SIPC.