Press Releases Forward Management Hires New President, 08/19/08 Forward Funds Announce 2007 Capital Gain Distributions, 12/7/07 Forward Funds Eliminates Redemption Fees on All Mutual Funds , 11/15/07 Updated: Forward Funds 2007 Preliminary Capital Gains Distributions Information, 11/14/07 Forward Management and Sierra Club Mutual Funds Announces the 2007 Forward Green Leaders - Recognizing the Top Environmentally Friendly Companies, 4/16/07 Forward Management Launches Progressive Large Cap 100 Index, 11/01/06 Forward Management Recognizes Environmentally Responsible Companies on Earth Day, 4/17/06 Fab Five Financial Tips For Recent College Grads, 5/26/04 Making "Green" By Saving "Green", 4/14/04 Sierra Club Mutual Funds Declares "Year of Financial Activism", 1/13/04

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The Sierra Club Stock Fund is professionally managed under the supervision of Forward Management, the independent Investment Advisor. The fund may choose not to purchase or retain investments that may be profitable if the companies being considered are in conflict with the established environmental and social guidelines of the Sierra Club. Sierra Club Stock Fund is distributed by ALPS Distributors, Inc. We respect your privacy. Sierra Club® is a registered trademark of the Sierra Club.