MUTUAL FUND SHARE CLASS INFORMATION DISCLOSURE

A mutual fund can have a number of share "classes". Each class has the same investment portfolio and is managed by the same portfolio manager. Share classes were developed to give the investor more options in choosing a fee payment structure. A fee structure not only determines how you pay the mutual fund company for its fund management, but also determines compensation paid to the member firm and your advisor. Choosing between the different classes depends on an investor's time horizon, the aggregate amount of money invested and personal preference. Choosing a "Class Type" is an extremely important decision. It is Montauk Financial Group's policy, and always has been the firm's policy, to thoroughly disclose an investor's share "class" options.

OVERVIEW OF COMMON SHARE CLASSES OFFERED

Class A

• Your investment amount can reach a breakpoint level, thus reducing the front-end "load", or sales charge that you pay.
• A letter-of-intent and/or rights-of-accumulation can help reach a breakpoint.
• You need a long term time horizon. The recurring internal expenses are lower than other share "classes" and over time this can compensate for the higher up front sales load.
• Class "A" is purchased as a preference to pay fees up front and to reduce ongoing recurring internal expenses.
• The Firm & Registered Representative upfront compensation is reduced as amount invested increases.

Class B

• Large investments do not qualify for discounts available with Class "A" shares and incur higher recurring internal expenses (12b-1 fees). However, Class "B" shares convert to Class "A" after CDSC (Contingent Deferred Sales Charge) reaches zero, typically after a holding period of 5-7 years.
• Your investment time horizon should be approximately 6 years (depending on the fund) to avoid paying a CDSC.
• Class "B" is purchased as a preference to have all of your investment dollars go to work for you immediately in exchange for a higher 12b-1 fee.
• The Firm & Registered Representative upfront compensation is a flat rate regardless of amount invested.

Class C

• Your investment time horizon is either short or unknown.
• Class "C" is purchased as a preference to have as much of your investment dollars to go to work immediately in exchange for higher 12b-1 fees.
• The Firm & Registered Representative upfront compensation is a flat rate regardless of amount invested.
• You will typically incur a deferred sales charge if shares are sold within the first year.

FOR MORE COMPLETE INFORMATION, INCLUDING CHARGES AND EXPENSES, READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS AND YOU MAY HAVE A GAIN OR LOSS WHEN YOU SELL YOUR SHARES.

PLEASE CONTACT YOUR REGISTERED REPRESENTATIVE TO THOROUGHLY REVIEW YOUR SHARE "CLASS" OPTIONS. "FIRST MONTAUK'S" POLICY IS THAT THE ULTIMATE CHOICE OF SHARE "CLASS" IS THE INVESTORS.

BREAKPOINTS, A LETTER-OF-INTENT AND RIGHTS-OF-ACCUMULATION SHOULD BE DISCUSSED WITH YOUR REGISTERED REPRESENTATIVE AS YOU MAY QUALIFY FOR DISCOUNTED SALES CHARGES.