Advisor and Sub-Advisor

Our "Best-in-Class" Commitment

We strive to provide a competitive return with clear style, consistency, a risk controlled process and an eye on expenses. MTB Investment Advisors, advisor to the MTB Group of Funds, complements its own experience with an array of sub-advisors selected for their expertise in specific areas of investment management.

This meshing of strengths, styles and strategies seeks to foster a "Best-in-Class" approach in order to provide you, the investor, the depth and range of experience that your investments demand.

Our Funds will always be managed in a way that is consistent with each fund's investment objectives and strategies, as defined by the prospectus. The end result is a fund family dedicated to reducing risk while pursuing each fund's stated objective.

MTB Investment Advisors, Inc.

Advisor to the MTB Group of Funds

.	Location: Baltimore, Maryland
.	Ownership Structure: Subsidiary of M&T Bank
.	Assets Under Management: $15.1 billion as of 12/31/07

DePrince, Race & Zollo, Inc.

Sub-Advisor of the MTB Equity Income Fund

Sub-Advisor of the value-equity portion of the MTB Balanced Fund

.	Location: Winter Park, Florida
.	Ownership Structure: Substantially owned by three principals; Gregory M. DePrince, John D. Race and Victor A. Zollo, Jr.
.	Assets Under Management: $5.2 billion as of 12/31/07

NWQ Investment Management Co., LLC

Sub-Advisor of the MTB Large Cap Value Fund

.	Location: Los Angeles, California
.	Ownership Structure: Subsidiary of Nuveen Investments, Inc.
.	Assets Under Management: $35 billion as of 12/31/07

LSV Asset Management

Sub-Advisor of value-equity portion of the MTB Small Cap Stock Fund

Sub-Advisor of value-equity portion of the MTB Mid Cap Stock Fund

Sub-Advisor of value-equity portion of the MTB International Equity Fund

.	Location: Chicago, Illinois
.	Ownership Structure: Largely employee-owned
.	Assets Under Management: approximately $73 billion as of 12/31/07

Copper Rock Capital Partners

Sub-Advisor of growth-equity portion of the MTB Small Cap Stock Fund

.	Location: Boston, Massachusetts
.	Ownership Structure: Affiliate of Old Mutual Management with the Principals having a 40% ownership stake
.	Assets Under Management: $3.1 billion as of 12/31/07

State Street Global Advisors

Sub-Advisor of core-equity portion of the MTB International Equity Fund

.	Location: Boston, Massachusetts
.	Ownership Structure: Wholly-owned Subsidiary of State Street Corporation
.	Assets Under Management: $2.0 trillion as of 12/31/07

Hansberger Global Investors

Sub-Advisor of growth-equity portion of the MTB International Equity Fund

.	Location: Fort Lauderdale, Florida
.	Ownership Structure: Wholly-owned Subsidiary of Hansberger Group, Inc
.	Assets Under Management: $12.0 billion as of 12/31/07

MTB Investment Advisors, Inc., a subsidiary of Manufacturers and Traders Trust Company ("M&T Bank"), is the investment advisor to the MTB Group of Funds.

The MTB Group of Funds are available from M&T Securities, Inc. (member FINRA/SIPC), a broker-dealer subsidiary of M&T Bank, and other authorized broker-dealers. ALPS Distributors, Inc., which is not affiliated with M&T Bank, is the distributor of the MTB Group of Funds.

For more complete information, please download the funds' prospectuses available on this website or call 1-800-836-2211 for copies. You should consider the funds' investment objectives, risks, charges and expenses carefully before you invest. Information about these and other important subjects are in the fund's prospectus, which you should read carefully before investing.