January 17, 2001
MARTIN CAPITAL OPPORTUNITY FUNDS
SUPPLEMENT TO PROSPECTUS
DATED August 30, 2000
The Board of Trustees has determined to redeem all outstanding shares of the
Texas Opportunity Fund and the Austin Opportunity Fund, due to their relatively
small asset size and lack of investor interest. It is clear that these funds
will not bring in enough assets within the foreseeable future to justify their
respective expenses. Each Fund will be shut down on January 31, 2001. Effective
immediately, each Fund will no longer pursue its stated investment objective and
instead will begin liquidating its portfolio and investing in cash equivalents,
money market funds and investment grade debt securities. These changes in
strategy and investments will begin immediately and will remain in effect until
each Fund's shares have been redeemed. Any shareholders that have not redeemed
their shares in these Funds prior to January 31, 2001 will have their shares
automatically redeemed as of that date, with proceeds being sent to the address
of record.
This decision does not impact the U.S. Opportunity Fund, whose operations will
continue.
This supplement and the Prospectus dated August 1, 2000 provide the
information a prospective investor ought to know before investing and should be
retained for future reference. A Statement of Additional Information has been
filed with the Securities and Exchange Commission dated August 1, 2000, which is
incorporated herein by reference and can be obtained without charge by calling
the Funds at 1-888-336-9757.
