STAAR AltCat (Alternative Categories) Fund -- A flexibly managed, multi-asset global fund of funds investing primarily in assets that offer opportunities for growth of capital.
   

* Total returns include reinvested dividends and gains. The S&P500 is a broad index of the 500 largest companies in various market sectors.  It is a market-capitalization weighted average, which emphasizes the largest companies. The index is unmanaged and has no expenses.  The Morningstar Large Blend Funds Category is an average of the total returns of all funds tracked and categorized as such by Morningstar.

STAAR General Bond Fund -- A high-grade general bond portfolio of US Gov't, Gov't Agency and Investment Grade Corp. Bonds with a flexible average maturity.

* The published returns are total returns including reinvestment of dividends.  The Lehman Bros. Intermediate Gov’t/Credit Index is a broad bond market index including both corporate investment grade and government (Treasury and gov. agency) indexes including bonds with maturities up to 10 years. The index is unmanaged and does not have expenses. The Morningstar Intermediate-Term Bond Category is an average of the total returns of all intermediate bond funds tracked and categorized as such by Morningstar.

STAAR International Fund -- A fund of funds in which the underlying investments are primarily common stocks of companies in countries outside the U.S., including emerging markets. Individual stocks may be owned.

 * Published returns are total returns including reinvested dividends. Management waived $.02 of fees in 2003. The MSCI EAFE index is a broad international index widely accepted as a benchmark for international stock performance.  It consists of an aggregate of 21 individual country indexes, which represent the major world, markets. The index is unmanaged and has no expenses.   The Morningstar Foreign Stock Funds Category Average is an average of the total returns of all funds tracked and categorized as such by Morningstar.

STAAR Larger Company Stock Fund -- A fund of funds in which the underlying investments are primarily common stocks of large and larger mid-cap companies Individual stocks may be owned. Objective: Growth w/ some Income  

* Published returns are total returns including reinvested dividends.  The S&P500 is a broad index of the 500 largest companies in various market sectors.  It is a market-capitalization weighted average, which emphasizes the largest companies.  The index is unmanaged and has no expenses.  The Morningstar Large Blend Funds Category is an average of the total returns of all funds tracked and categorized as such by Morningstar.

STAAR Short Term Bond Fund -- A high-grade bond portfolio of US Gov't, Gov't Agency and Investment Grade Corporate Bonds with an average maturity between 1 and 3 years.
 

* Published returns are total returns including reinvested dividends.  The Lehman Bros. 1-3 Government Bond Index includes both the Treasury Bond index (all public obligations of the U.S. Treasury, excluding flower bonds and foreign-targeted issues) and the Agency Bond Index (all publicly issued debt of U.S. Government agencies and quasi-federal corporations and corporate-debt guaranteed by the U.S. Government). The index is unmanaged and has no expenses.  The Morningstar Short-Term Bond Category is an average of the total returns of all short-term bond funds tracked and categorized as such by Morningstar.

STAAR Smaller Company Stock Fund -- A fund of funds in which the underlying investments are primarily common stocks of small, micro-cap and smaller mid-cap companies. Individual stocks may be owned.    

* Published returns are total returns including reinvested dividends.   The Russell 2000 Index is an unmanaged total return index of the smallest 2000 companies in the Russell 3000 Index and is generally considered in the industry as representing the universe of small company stocks. The index is unmanaged and has no expenses. The Morningstar Small Company Funds Objective Average is an average of the total returns of all funds tracked by Morningstar having that objective.

1 Performance figures are total returns, including dividends and capital gains reinvested, except as noted with **. Indexes were quoted as published in various publications or sources, including the Wall St. Journal and Morningstar.   Past performance is no guarantee of future results. Investment returns and principal values fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.  You should read the prospectus carefully and consider investment objectives, risks and expenses carefully before investing. The General Bond Fund was formerly named the Intermediate Bond Fund.  The Short Term Bond Fund was previously named the Long Term Bond Fund.  The investment objectives were changed by a vote of shareholders in August of 2004.  Performance shown that includes periods prior to August 2004 include performance achieved under the different investment objectives.  The Trust was formed as a PA private business trust and investment operations commenced 4/4/96.  Public inception was effective on 5/28/97 with no changes in investment operations, except for the General Bond Fund and the Short Term Bond Fund.

For a Prospectus and other Information Call 1-888-717-8227 or go to www.STAARFunds.com