Boyar disclaimer wsj

The views expressed are the views of Boyar Asset Management, Inc. as of August 17, 2009. These views are subject to change at any time
and they do not guarantee the future performance of the markets, any security, or any funds managed by Boyar Asset Management. These
views are not meant to provide investment advice and should not be considered a recommendation to purchase or sell securities mentioned
herein. Individual securities or industries/sectors mentioned, if any, should be considered in the context of an overall portfolio and therefore
reference to them should not be construed as a recommendation or offer to purchase or sell securities. The Boyar Value Fund is advised by
Boyar Asset Management. The Boyar Value Fund is distributed by Ladenburg Thalmann & Co. Inc. and managed by Ladenburg Thalmann
Fund Management , LLC. Investors should consider the investment objectives and policies, risk considerations, charges and expenses of
any fund/investment carefully before investing. The prospectus contains this and other information relevant to an investment in the Fund.
Please read the Fund's prospectus carefully before you invest or send money. A complete schedule of Portfolio holding as of June 30, 2009
can be obtained by calling 1800-266-5566.