VICEX Usa Mutuals Vice Fund-Investor Class (MM)

Lipper Ranked the Vice Fund in the Top 1% among 751 Multi-Cap Core Funds for One-Year Period, and Top 1% among 623 Multi-Cap Core Funds for Two-Year Period, Ending June 30, 2005, Based on Total Fund Returns For the 12 month period ending June 30th, the MUTUALS.com Vice Fund (Nasdaq:VICEX) ranked 5th out of 751 total Multi-Cap Core funds with Lipper Inc. For the 2 year period ending June 30th, the Vice Fund ranked 2nd out of 623 total Multi-Cap Core funds with Lipper. The Fund returned 18.72% for the 12 months ending 6/30/05 easily out-performing the Standard & Poor's 500 Index at 6.32%. The Fund invests primarily in the alcohol, gaming, tobacco, and aerospace/defense industries. The Vice Fund's 2004 total return was 24.37%, and its 2003 total return was 34.33%. -0- *T Month-end Total Returns through June 30, 2005 Vice Fund S&P 500 Index ---------- -------------- 3 Month (cumulative) 5.90% 1.37% 6 Month (cumulative) 4.55% -0.81% 1 Year (cumulative) 18.72% 6.32% 2 Year (average annual) 26.02% 12.51% Since inception (average annual) 19.12% 11.69% (8/30/02) *T Performance data quoted represents past performance and does not guarantee future results. The 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 of the fund may be higher or lower than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-866-264-8783. The Fund has now out-performed the market (S&P 500 Index) for 3 months, 6 months, 1 year, 2 years, and since its inception date of Aug. 30, 2002. "We are looking forward to the Fund reaching a 3 year track record in August, and hope to surpass $50 million in assets in the very near future. Both are important benchmarks that many investors consider in selecting a mutual fund," said Dan Ahrens, Fund Manager. The Fund reached a new high in assets under management in June, surpassing $42 million. The no-load fund has a minimum initial investment of $2,500 and can be purchased directly or through most brokerage firms. The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-866-264-8783 or visiting www.VICEFUND.com. Read it carefully before investing. Mutual funds with a narrow investment focus are subject to greater price fluctuations than funds with broader investment choices. The Vice Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. The S&P 500 Index is an unmanaged index commonly used to measure performance of U.S. stocks. You cannot invest directly in an index. Lipper, Inc is a nationally recognized, independent mutual fund research and rating service. Each Lipper average represents a universe of funds with similar investment objectives. Ranking for the periods shown are based on fund total returns with dividends and distributions reinvested. While the fund is no-load, there are management and distribution fees that do apply. The MUTUALS.com funds are distributed by Quasar Distributors, LLC. (07/05)