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Do parents and/or grandparents have to pay capital gains taxes on their children's mutual fund investments if their children have no source of income? They might. According to the Internal Revenue Service (IRS), part of a child's 1997 investment income may be subject to capital gains tax at the parents' or guardians' tax rate if the child meets several criteria: The child was under age 14 on January 1, 1998. The child's investment income was more than $1,300. The child is required to file a tax return for 1997. Always check with the IRS or your tax advisor if you have specific questions about capital gains taxes or other tax issues.

NOT FDIC INSURED · NO BANK GUARANTEE · MAY LOSE VALUE

You should consider the investment objectives, risks, charges and expenses of the Armada Funds carefully before investing. A prospectus may be downloaded and viewed with this and other information about the Funds or may be obtained by contacting an investment professional or by calling 1-800-622-FUND (3863.) Please read it carefully before you invest or send money.

National City Investment Management Company (IMC) serves as investment adviser to Armada Funds for which it receives an investment advisory fee. Shares of Armada Funds are distributed by Professional Funds Distributor, LLC (PFD), 760 Moore Road, King of Prussia, PA 19406. PFD is not affiliated with IMC and is not a bank.