Fund Family

Equity Funds International Equity Fund Small Cap Growth Fund Small Cap Value Fund Equity Growth Fund Core Equity Fund Equity Index Fund Equity Income Fund Balanced Funds Balanced Allocation Fund Fixed Income Funds GNMA Fund Bond Fund Intermediate Bond Fund Limited Maturity Bond Fund Money Market Funds* Money Market Fund Government Money Market Fund Treasury Money Market Fund

*The performance quoted herein represents past performance and investment return, yield and principal value will fluctuate. An investment in the fund [money market funds] is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund(s) seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund(s). Total return assumes reinvestment of dividends.

EQUITY	INVESTS PRIMARILY FOR:	BY INVESTING MAINLY IN:
International Equity Fund - Retail	Capital appreciation	Stocks of foreign issuers
International Equity Fund - Institutional	Capital appreciation	Stocks of foreign issuers
Small Cap Growth Fund - Retail	Capital appreciation	Stocks of growth-oriented smaller issuers
Small Cap Growth Fund - Institutional	Capital appreciation	Stocks of growth-oriented smaller issuers
Small Cap Value Fund - Retail	Capital appreciation	Stocks of value-oriented smaller issuers
Small Cap Value Fund - Institutional	Capital appreciation	Stocks of value-oriented smaller issuers
Equity Growth Fund - Retail	Capital appreciation	Stocks of growth-oriented larger issuers
Equity Growth Fund - Institutional	Capital appreciation	Stocks of growth-oriented larger issuers
Core Equity Fund - Retail	Capital appreciation	Stocks of larger issuers, blending value and growth styles
Core Equity Fund - Institutional	Capital appreciation	Stocks of larger issuers, blending value and growth styles
Equity Index Fund - Retail	Approximate return of S&P 500	Stocks of larger issuers
Equity Index Fund - Institutional	Approximate return of S&P 500	Stocks of larger issuers
Equity Income Fund - Retail	Capital appreciation	Income producing stocks
Equity Income Fund - Institutional	Capital appreciation	Income producing stocks

BALANCED	INVESTS PRIMARILY FOR:	BY INVESTING MAINLY IN:
Balanced Allocation Fund - Retail	Capital appreciation and current income	Growth-oriented stocks, fixed income securities, and cash equivilant securities
Balanced Allocation Fund - Institutional	Captial appreciation and current income	Growth-oriented stocks, fixed income securities, and cash equivilant securities

FIXED INCOME	INVESTS PRIMARILY FOR:	BY INVESTING MAINLY IN:
GNMA Fund - Retail	Income and preservation of capital	Government National Mortgage Association securities
GNMA Fund - Institutional	Income and preservation of capital	Government National Mortgage Association securities
Bond Fund - Retail	Income and preservation of capital	Investment grade fixed income securities
Bond Fund - Institutional	Income and preservation of capital	Investment grade fixed income securities
Intermediate Bond Fund - Retail	High income and preservation of capital	Investment grade fixed income securities
Intermediate Bond Fund - Institutional	High income and preservation of capital	Investment grade fixed income securities
Limited Maturity Bond Fund - Retail	Income and preservation of capital	Investment grade fixed income securities
Limited Maturity Bond Fund - Institutional	Income and preservation of capital	Investment grade fixed income securities

MONEY MARKET	INVESTS PRIMARILY FOR:	BY INVESTING MAINLY IN:
Money Market Fund†-Retail	Income with liquidity and stability	Money market instruments
Money Market Fund†-Institutional	Income with liquidity and stability	Money market instruments
Government Money Market Fund† -Retail	Income with liquidity and stability	U.S. Government-issued money market instruments
Government Money Market Fund† -Institutional	Income with liquidity and stability	U.S. Government-issued money-market instruments
Treasury Money Market Fund† - Retail	Income with liquidity and stability	U.S. Treasury-issued money-market instruments
Treasury Money Market Fund† - Institutional	Income with liquidity and stability	U.S. Treasury-issued money-market instruments

† An investment in Armada Money Market Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Funds.

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