Company Press Release

LANCASTER, Pa., May 22, 2012 (BUSINESS WIRE) -- Emerald Asset Management, Inc., an investment holding company with approximately $2 billion in assets, has announced the return of a senior retail sales executive concurrent with the return of the Emerald Mutual Funds. Emerald Founder and CEO Joseph E. Besecker announced that John J. Smith III has re-joined subsidiary company Emerald Advisers, Inc. as Vice President. He will be responsible for the sales and distribution of the firm's proprietary institutional and retail products, including the Emerald Mutual Funds. The Funds were founded by Emerald in 1992 but spent the last several years as part of another fund family before being re-established as the Emerald Mutual Funds in March, 2012.

Prior to rejoining Emerald, John was Vice President and Director of Sales for Global Capital Management. Prior to joining GCM, he was Vice President and Director of Sales for Forward Management, Mid Atlantic States (2005 to 2008). Prior to this period, he was Senior Vice President with Emerald Advisers, where he was responsible for the sales and marketing of the firm's mutual funds (2001 to 2005). He is a graduate of Saint Joseph's University and holds a bachelor's degree in Food Marketing.

"We are excited that the mutual funds have returned to Emerald, and even more so with the return of John Smith to market them," said Mr. Besecker. "The Emerald Funds always enjoyed a great reputation for hands-on, on-site service and support with its distribution partners throughout the Mid-Atlantic region," he said, "and we are thrilled that John is back to reignite that network and bring the Emerald Funds to investment professionals and their clients." John joins three recent additions to the Emerald management team: Rich Juliano joined Emerald Asset Management, Inc. as chief operating officer and Joe Witthohn as Vice President -- ETF Strategies and Product Development, and Scott Rehr joined subsidiary Emerald Advisers, Inc. as its chief operating officer. Emerald maintains offices in King of Prussia and Pittsburgh, Pennsylvania and its new global headquarters is located in Leola, PA.

Founded in 1991, Emerald Asset Management, Inc. is a diversified investment management company that operates thru its wholly-owned subsidiaries Emerald Advisers, Inc. and Emerald Mutual Fund Advisers Trust. Emerald Advisers and PMG jointly own Emerald Fixed Income Advisers, LLC. Assets managed by these companies totaled approximately $2 billion as of March 31, 2012. "Driven by Research," Emerald employs an intense fundamental, research-focused investment philosophy and focuses primarily on growth-oriented equity investing and high-quality disciplined fixed-income investing.

Emerald Asset Management, Inc. 3175 Oregon Pike Leola, PA 17540 717.556.8900 800.722.4123 www.TeamEmerald.com Emerald Growth Fund: HSPGX Emerald Banking & Finance Fund: HSSAX

An investor should consider investment objectives, risks, charges and expenses carefully before investing. A prospectus with this and other information about the Fund may be obtained by calling 855-828-9909 or by downloading one at www.emeraldmutualfunds.com . It should be read carefully before investing. Emerald Mutual Funds are distributed by ALPS Distributors, Inc.

SOURCE: Emerald Asset Management, Inc.