Edgar Lomax Value Fund Performance

	As of March 31, 2008		As of April 30, 2008
	Edgar Lomax Value Fund	S&P 500 **	Edgar Lomax Value Fund	S&P 500 **
Year- to- Date	-6.17%	-9.47%	-2.11%	-5.00%
1-Year*	-6.63%	-5.18%	-7.25%	-4.76%
3-Year*	5.97%	5.82%	7.78%	8.21%
5-Year*	12.04%	11.29%	10.99%	10.60%
10-Year*	4.47%	3.48%	4.80%	3.88%
*Since Inception (December 12, 1997)**	5.33%	4.88%	5.72%	5.33%

Gross Expense Ratio: 1.55% Net Expense Ratio: 1.01% ***

Performance data quoted represents past performance; past performance 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 lower or higher than the performance quoted.

Performance is determined by the change in NAV (Net Asset Value), adjusted for distributions, over the respective time period. Returns reflect fee waivers in effect. In the absence of fee waivers, returns would be reduced.

* Average annual total return.

** The S&P 500 index is an unmanaged market value-weighted index of 500 stocks designed to represent the broad domestic economy; it does not incur expenses and is not available for direct investment.

*** Figures are from the Fund's prospectus dated 2/28/08. The Advisor has contractually agreed to waive its fees and/or absorb expenses of the Fund to ensure that Net Annual Fund Operating Expenses do not exceed 0.99% (excluding “Acquired Funds Fees and Expenses and extraordinary expenses”). The advisor may be reimbursed for a period of three years from the date of the expense waiver. While the Board of Trustees may terminate this expense reimbursement arrangement at any time, it has no intention of doing so. In addition, the Advisor has voluntarily agreed to waive a portion of its investment advisory fee contingent upon the Fund’s performance versus the S&P 500 Value Index. While the Advisor may discontinue its voluntary waiver at any time, it has no intention of doing so. With these waivers, actual net annual fund operating expenses were 0.50% in the past fiscal year.