Company Press Release

LOS ANGELES - (Business Wire) Bristlecone Value Partners today announced a new mutual fund, the Bristlecone Fund (ticker:BVPFX). The fund is suitable for individuals and advisors who are:

* Truly long-term oriented (5 years or more);
* Seeking a go anywhere, opportunistic, value manager;
* Comfortable investing against the crowd and outside the style box.

The Bristlecone Fund

The Fund typically invests in common stocks, but may invest in other types of securities (debt instruments, preferred stock, etc.).

According to Jean-Luc Nouzille, co-portfolio manager of the fund, “The key differentiating idea behind this fund, supported by a growing amount of academic research, is that a pure, unconstrained approach to investing can lead to outperformance versus a process geared to fit neatly inside the ubiquitous style box. This fund is simply looking for the best investment opportunities available.”

David Fleer, co-portfolio manager, added: “In a market place crowded with look-alike mutual funds on one end, and hedge funds with high fees and high minimums on the other end, we wanted to provide investors with an accessible, low cost, shareholder-friendly, alternative that allows us potentially to take advantage of today’s attractive investment opportunities.”

The portfolio management team co-invests alongside fund shareholders. Nouzille concludes: “We eat our own cooking.”

You should carefully consider the Fund's investment objectives, risks, charges and expenses before investing. To obtain a prospectus that contains this and other important information about the Fund, visit www.bristleconefund.com or call (877) 5BRISTLE or (877) 527-4785. Please read the prospectus carefully before investing.

Mutual fund investing involves risk. Principal loss is possible. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. The Fund invests in smaller companies, which involve additional risks such as limited liquidity and greater volatility. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. The fund may invest in debt securities, which typically decrease in value when interest rates rise. The risk is usually greater for longer-term securities.

The Bristlecone Fund is distributed by Quasar Distributors, LLC., and is currently available for purchase through US Bancorp Fund Services, Charles Schwab, ETrade, and Scottrade. Please check the fund’s website for updated purchasing information (8/08).

About Bristlecone Value Partners

The Bristlecone Fund is advised by Bristlecone Value Partners, LLC, an independent, employee-owned asset management firm offering investment advisory and sub-advisory services to high net worth individuals, mutual funds, and institutions. Based in Los Angeles, California, Bristlecone Value Partners was founded in 2004. For more information, please visit www.bristlecone-vp.com or call (877) 806-4141.