Eastern European Fund (EUROX) Overall Lipper ranking among 177 Emerging Markets funds for Total Return. Past performance does not guarantee future results. Lipper ratings for Total Return refl ect funds historical total return performance relative to peers as of 9/30/06.		Gold Shares Fund (USERX) Overall Lipper ranking among 48 and 38 Gold Oriented funds for Tax Efficiency. Past performance does not guarantee future results. Lipper ratings for Tax Efficiency reflect funds historical success in postponing taxable distributions relative to peers as of 9/30/06. Tax Efficiency offers no benefit to investors in tax-sheltered accounts such as 401(k) plans.
	MegaTrends Fund (MEGAX) Overall Lipper ranking among 612 Large-Cap funds for Total Return. Past performance does not guarantee future results. Lipper ratings for Total Return reflect funds historical total return performance relative to peers as of 9/30/06.		Near-Term Tax Free Fund (NEARX) Overall Lipper ranking among 4,213 Fixed Income funds for Preservation. Past performance does not guarantee future results. Lipper ratings for Preservation refl ect funds historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds.
	World Precious Minerals Fund (UNWPX) Overall Lipper ranking among 48 Gold Oriented funds for Total Return. Past performance does not guarantee future results. Lipper ratings for Total Return refl ect funds historical total return performance relative to peers as of 9/30/06.
	Global Resources Fund (PSPFX) Overall Lipper ranking among 76 Natural Resource funds for Total Return. Past performance does not guarantee future results. Lipper ratings for Total Return refl ect funds historical total return performance relative to peers as of 9/30/06.		Tax Free Fund (USUTX) Overall Lipper ranking among 247 Fixed Income funds for Tax Effi ciency. Lipper ratings for Tax Efficiency refl ect funds historical success in postponing taxable distributions relative to peers as of 9/30/06. Tax Efficiency offers no benefit to investors in tax-sheltered accounts such as 401(k) plans.

Please consider carefully the fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.usfunds.com or by calling 1-800-US-FUNDS (1-800-873-8637). Read it carefully before investing. Distributed by U.S. Global Brokerage, Inc.

Performance data quoted above is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance does not include the effect of any fees described in the fund’s prospectus (e.g. short-term trading fees) which, if applicable, would lower your total returns. Obtain performance data current to the most recent month-end at www.usfunds.com or 1-800-US-FUNDS, option 5.

Foreign and emerging market investing involves special risks such as currency fl uctuation and less public disclosure, as well as economic and political risk. Gold funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. The price of gold is subject to substantial price fl uctuations over short periods of time and may be affected by unpredicted international monetary and political policies. We suggest investing no more than 3% to 5% of your portfolio in gold or gold stocks. Tax-exempt Income is federal income tax free. A portion of this income may be subject to state and local income taxes, and if applicable, may subject certain investors to the Alternative Minimum Tax as well. Bond funds are subject to interest-rate risk; their value declines as interest rates rise.

The Eastern European Fund ranked 201 out of 209, 2 out of 177, and 2 out of 143 Emerging Markets funds for total return for the 1-, 3- and 5-year periods as of 9/30/06. The China Region Opportunity Fund ranked 29 out of 39, 4 out of 26, 10 out of 22, and 3 out of 7 China Region funds for total return for the 1-, 3-, 5- and 10-year periods as of 9/30/06. The MegaTrends Fund ranked 331 out of 717, 9 out of 612, 45 out of 498, and 51 out of 171 Large-Cap Growth funds for total return for the 1-, 3-, 5- and 10-year periods as of 9/30/06. The World Precious Minerals Fund ranked 3 out of 53, 1 out of 48, 1 out of 38, and 17 out of 24 Gold Oriented funds for total return for the 1-, 3-, 5- and 10-year periods as of 9/30/06. The Global Resources Fund ranked 27 out of 103, 3 out of 76, 1 out of 69, and 13 out of 31 Natural Resources funds for total return for the 1-, 3-, 5- and 10-year periods as of 9/30/06. The Gold Shares Fund ranked 1 out of 53, 3 out of 48, 2 out of 38, and 23 out of 24 Gold Oriented funds for total return for the 1-, 3-, 5- and 10-year periods as of 9/30/06. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return, Preservation, and Tax Effi ciency metrics over the past three years. The highest 20% of funds in each peer group are named Lipper Leaders, the next 20% receive a score of 2, the middle 20% are scored 3, the next 20% are scored 4, and the lowest 20% are scored 5. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperleaders.com. Lipper Leader Copyright 2004, Reuters, All Rights Reserved.