Total Gross Expense Ratio as of 10/31/07 was 4.23%.
Net Expense Ratio as of 10/31/07 was 2.97%.

For the period ended October 31, 2007, the Advisor agreed to voluntarily waive or reduce certain expenses of the Fund. The Fund has also entered into brokerage/service arrangements with several brokers through commission recapture programs (e.g., a program where a portion of the brokerage commissions paid on portfolio transactions to a broker is returned directly to the Fund). These portions are then used to offset overall Fund expenses. There can be no assurance that these arrangements will continue in the future. For more information, please see the prospectus.

Performance shown is for the period ended May 31, 2008. The performance data quoted above represents past performance, which is not a guarantee of 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. Current performance may be lower or higher than the performance data quoted. The performance data with sales load reflects the 3.00% maximum sales charge (load) imposed on purchases (as a percentage of offering price).