PORTLAND, OR - With oil prices and voter turnout hitting record levels, some investors are also voting with their dollars for a future that is not dependent on oil. Portfolio 21, a global equity mutual fund investing in environmental sustainability, has never invested in oil stocks. Shareholders in the fund employ their $55 million to vote for a sustainable future and their strategy is paying off. Portfolio 21 invests in companies from around the world using renewable energy, efficient production methods, and the development of ecologically superior products to lessen their impact on the environment. And so far, since the fund started in September 1999, shareholders have been rewarded with five years of financial performance beating the S&P 500 Index. Portfolio 21 is celebrating its fifth year of sustainable performance. Contact Carsten Henningsen at 877-351-4115, ext. 11 www.portfolio21.com

Portfolio 21 has outperformed the S&P 500 Index over the last 1, 2, 3, 4 and 5-year periods. Average Annual Return as of 9/30/04:

Portfolio 21 versus the S&P 500 Index

1 Year
Portfolio 21 14.16%
S&P 13.87%

2 Years
Portfolio 21 22.12%
S&P 18.97%

3 Years
Portfolio 21 8.18%
S&P 4.02%

4 Years
Portfolio 21 -1.79%
S&P -4.65%

5 Years
Since inception on 9/30/99
Portfolio 21 1.36%
S&P 1.31%

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance current to the most recent month-end may be lower or higher than the performance quoted and may be obtained by calling 877.351.4115 or visiting www.portfolio21.com. Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced.

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 877.351.4115 or visiting www.portfolio21.com. Read it carefully before investing.

Portfolio 21 may invest in foreign securities, which are subject to the risks of currency fluctuations, political and economic stability and differences in accounting standards.

The S&P 500 Index is unmanaged and is commonly used to measure equity performance. You cannot invest directly in the S&P 500 Index.

Distributed by Quasar Distributors, LLC

Portfolio 21

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