Year End Tax Information 2007

Neither MTB Group of Funds nor any affiliates, agents or representatives are authorized to give legal, tax, estate planning or accounting advice, and this general information is not intended to be considered legal, tax, estate planning or accounting advice. We suggest that you consult your attorney, accountant or tax advisor for such advice on specific points of interest to you.

Tax information contained herein is from sources deemed reliable, but no guarantee is made as to its accuracy or completeness.

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.