Armada's Bulletin Board

Media Contact:
Doug Draper
216-222-2929
Doug.Draper

HEAD OF NATIONAL CITY INVESTMENT MANAGEMENT COMPANY
PLANS TO RESIGN IN MARCH 2005

Don Ross to retain investment management responsibilities until successor is in place

CLEVELAND, OH—November 23, 2004—National City Investment Management Company (NCIMC) today announced that its president and chief investment officer, Donald L. Ross, has elected to resign, effective March 31, 2005. He is leaving National City to pursue other career options, however he will retain his day-to-day investment management responsibilities until his successor is in place.

"Don Ross has been with the Investment Management Company since its inception in 1995 and has made a positive contribution," said Ted M. Parker, executive vice president, Institutional Asset Management. "Don has been dedicated to our goal of attaining the investment objectives of institutional and retail clients by providing a broad array of specialized investment strategies coupled with investment advice. Through numerous publications, teleseminars and media interviews, Don has helped National City clients to keep abreast of events that affect the market and their investments. We appreciate the wisdom and insight that Don has provided to National City over the years."

Don has 18 years of investment experience, including responsibilities in National City’s Bank Investment Division, where he did extensive work in financial derivatives. A Chartered Financial Analyst, he has a bachelor of arts degree and a bachelor of science degree from the University of Colorado and a master's degree from the University of Chicago.

About National City
National City Corporation (NYSE: NCC), headquartered in Cleveland, Ohio, is one of the nation’s largest financial holding companies. The company operates through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri and Pennsylvania, and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management. For more information about National City, visit the company’s Web site at NationalCity.com.

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.