FAIRWAY FUNDS 2006 DISTRIBUTION FACTORS

FAIRWAY FUNDS 2005 DISTRIBUTION FACTORS

FAIRWAY FUNDS 2004 DISTRIBUTION FACTORS

The characterization of distributions for tax purposes (such as dividends, other income, capital gains, return of capital, etc.) will not be known for certain until after the Fund's tax year end. Therefore, investors will be informed of the characterization of the amounts distributed for tax purposes only for the entire year and not with each distribution. For tax purposes, these amounts will be reported by brokers on official tax statements.