SCHEDULE 14A INFORMATION
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<PAGE>
PENN CAPITAL SELECT FINANCIAL SERVICES FUND
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NOTICE: YOUR VOTE IS NEEDED
SPECIAL MEETING OF STOCKHOLDERS
ADJOURNED UNTIL FRIDAY JANUARY 12, 2001
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December 28, 2000
Dear Shareholder:
We are writing to inform you that the Special Meetings of Shareholders of Penn
Capital Financial Services Fund were held on Monday, December 11, 2000. However,
the fund listed above did not receive a sufficient number of votes to approve or
disapprove the proposed items at the meeting. Therefore, this meeting has been
adjourned to Friday, January 12, 2001. As of now, our records still indicate
that we have not received voting instructions from you. Your vote is very
important to the outcome of the Meeting. Without a sufficient number of votes,
this meeting may have to adjourn again. To avoid any possible adjournments,
please take some time and vote your shares using one of the following options:
For your convenience, we have established three easy methods by which to
register your vote:
1. By Phone: To vote by touch-tone phone, simply
call 1-800-690-6903, and follow the
simple instructions.
2. By Internet: Go to www.proxyvote.com and enter
the 12-digit control number found
on your proxy card.
3. By Mail: Complete the enclosed proxy
card and return it in the enclosed
postage-paid envelope. Please
utilize this option only if methods
one or two are not available, since
there is no guarantee that your vote
will be received in time for the
Meeting.
If you have any questions regarding the meeting agenda, please call
1-(800)-224-6312 to speak with a client services representative.
Thank you for your prompt attention.
