[FRONT OF INSERT]
"The best gold investments are buried in the earth, not in financial reports.
At United Services, we know that managing gold funds involves more than
number crunching. It takes a team with the experience to dig deeper. Let me
introduce you to our world-class team..."
[GRAPHIC: Full-length picture of Frank Homes standing on world map]
FRANK HOLMES
President & CEO
United Services Funds
U.S. WORLD GOLD FUND
[CENTERED AT TOP BETWEEN LEFT AND RIGHT SIDE OF INSERT IN GOLD BORDER]
Recommended by: Mutual Fund Advisor (April 1996) * The Wall Street Digest
(February 1996) * Mutual Funds Magazine (June 1996) * Fabian Investment
Resources (May 2, 1996) * Schabacker's Mutual Fund Investing (June 1996) * The
Aden Forecast (May 1996) * Martin Weiss' Safe Money Report (May 1995) * The
Reaper (April 1996) * The Big Picture ( April 1996) * The Addison Report (April)
Mutual Fund Forecaster (May 1996) * The Silver & Gold Report (January 24, 1996)
* The No-Load Fund Investor (May 1996)
[LEFT SIDE OF INSERT]
[MOUNTAIN GRAPH PLOTTED FROM DATA IN TABLE BELOW]
<TABLE>
Compare the U.S. World Gold Fund
to gold bullion over 5 years.
[LEGEND]
* U.S. World Gold Fund $23,545.51
* Gold bullion $10,857.40
[/LEGEND]
<CAPTION>
Gold Price U.S. World
Bullion Gold Fund
---------- -----------
<S> <C> <C>
5/31/91 ............................... 10000 10000
6/28/91 ............................... 10220.59 10737.97
7/31/91 ............................... 10067.98 10770.05
8/30/91 ............................... 9639.28 9700.534
9/30/91 ............................... 9847.388 9850.267
10/31/91 ............................... 9918.144 10844.92
11/29/91 ............................... 10163.71 10909.09
12/31/91 ............................... 9798.829 10438.5
1/31/92 ............................... 9825.189 10695.19
2/28/92 ............................... 9797.441 10545.45
3/31/92 ............................... 9481.117 9807.486
4/30/92 ............................... 9332.667 8877.005
5/29/92 ............................... 9364.854 9593.583
6/30/92 ............................... 9528.289 10149.73
7/31/92 ............................... 9929.243 10737.97
8/31/92 ............................... 9434.224 10481.28
9/30/92 ............................... 9683.953 10481.28
10/30/92 ............................... 9413.413 10053.48
11/30/92 ............................... 9273.009 9262.032
12/31/92 ............................... 9236.938 9946.524
1/29/93 ............................... 9168.956 9475.935
2/26/93 ............................... 9089.874 10245.99
3/31/93 ............................... 9372.901 11433.15
4/30/93 ............................... 9830.739 13101.6
5/31/93 ............................... 10473.1 14866.31
6/30/93 ............................... 10500.85 15604.28
7/30/93 ............................... 11147.65 18545.45
8/31/93 ............................... 10309.39 17080.21
9/30/93 ............................... 9864.313 14941.18
10/29/93 ............................... 10255.28 17401.07
11/30/93 ............................... 10291.35 17080.21
12/31/93 ............................... 10870.17 18877
1/31/94 ............................... 10485.59 19529.41
2/28/94 ............................... 10586.86 18513.37
3/31/94 ............................... 10799.13 18545.45
4/29/94 ............................... 10445.35 17058.82
5/31/94 ............................... 10754.74 17871.66
6/30/94 ............................... 10773.05 16716.58
7/29/94 ............................... 10655.12 16737.97
8/31/94 ............................... 10703.68 17508.02
9/30/94 ............................... 10955.91 18556.15
10/31/94 ............................... 10650.68 17786.1
11/30/94 ............................... 10629.87 15326.2
12/30/94 ............................... 10634.31 15679.14
1/31/95 ............................... 10402.34 14028.71
2/28/95 ............................... 10443.96 14328.79
3/31/95 ............................... 10877.11 15979.22
4/28/95 ............................... 10814.67 16418.63
5/31/95 ............................... 10663.17 16386.47
6/30/95 ............................... 10754.74 16943.76
7/31/95 ............................... 10636.81 17683.25
8/31/95 ............................... 10609.06 18165.52
9/29/95 ............................... 10655.12 18154.8
10/31/95 ............................... 10617.39 16290.02
11/30/95 ............................... 10760.29 17683.25
12/29/95 ............................... 10738.37 18176.23
1/31/96 ............................... 11252.81 21112.72
2/29/96 ............................... 11116.85 21680.73
3/29/96 ............................... 10997.53 22838.18
4/30/96 ............................... 10857.4 23545.51
(Source: Micropal)
</TABLE>
[GRAPHIC: Full-length picture of Victor Flores standing on world map]
VICTOR FLORES
Chief Investment Officer
and Portfolio Manager
TRUST THE EXPERTS. Most gold funds are managed by financial analysts with little
or no mining or geological experience. Our Gold and Natural Resources Team
includes investment professionals who also have extensive experience in geology,
mining engineering, mineral economics and mining finance. By visiting mining
operations worldwide and bringing along their geological expertise, our
investment managers are able to evaluate mining projects first hand.
SELECT THE BEST GOLD FUND. THE U.S. WORLD GOLD FUND invests in mining companies
around the world. Its investments are focused in the United States, Canada and
Australia. The Fund is 100% no-load and has a minimum initial investment of only
$1,000.
A $10,000 INVESTMENT
MADE 5 YEARS AGO IN
THE U.S. WORLD GOLD
FUND IS NOW WORTH
$23,545.51.
[GRAPHIC: Full-length picture of David Maynard standing on world map]
DAVID MAYNARD
Senior Research Analyst
U.S. WORLD GOLD FUND*
-------- ---------- --------- --------
51.14% 22.20% 20.33% 10.64%
ONE YEAR THREE YEAR FIVE YEAR TEN YEAR
-------- ---------- --------- --------
AVERAGE ANNUAL TOTAL RETURNS AS OF 5/10/96
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LOOK TO THE LEADER. United Services is the longstanding leader in gold fund
management. In fact, we established the first no-load precious metals fund in
America. Today we manage over $500 million in gold assets and offer two choices
in gold funds.
DIVERSIFY YOUR HOLDINGS. Mining is a very risky business. All too often
inexperienced investors lose their money on mining ventures which had little
chance of succeeding. You need a fully diversified portfolio to minimize risk.
With the U.S. World Gold Fund, you can easily and affordably build a diversified
portfolio of gold stocks without paying costly commissions to brokers.
Put the United Services Gold and Natural Resources Team to work
for you. For a free investment kit containing everything you need
to open an account, simply return the postage-paid card below.
Or, for faster service, call 1-800-557-2297, ext. 135.
-------------------------------
U.S. WORLD GOLD FUND
Top 10 Holdings (as of 5/10/96)
1. Barrick Gold
2. Delta Gold
3. Pioneer Group
4. Ashanti Goldfields
5. Newmont Mining
6. Agnico-Eagle Mines
7. Franco Nevada Mining
8. Euro Nevada Mining
9. Firstmiss Gold
10. Greenstone Resources
-------------------------------
CALL NOW FOR A FREE INVESTMENT KIT 1-800-557-2297, EXT. 135.
[GRAPHIC: Full-length picture of Michael Chapman standing on world map]
MICHAEL CHAPMAN
Senior Research Analyst
[GRAPHIC: Full-length picture of Dr. Naijiang Zhou standing on world map]
DR. NAIJIANG ZHOU
Senior Research Analyst
[GRAPHIC: "*" ON APPROPRIATE LOCATIONS ON WORLD MAP]
------------------------
* Countries researched
and visited by our
Gold and Natural
Resource Team
------------------------
[FRONT SIDE OF POSTCARD]
YES! I need to learn more about the benefits of the U.S. WORLD GOLD FUND. Please
rush me a FREE investment guide today.
[ ] Please enclose an IRA investment guide.
Name ..................................................
Address ...............................................
City, State, Zip Code .................................
Daytime Phone .........................................
FOR IMMEDIATE RESPONSE
CALL 1-800-557-2297, EXT. 135.
[GRAPHIC: UNITED SERVICES FUNDS LOGO, BOTTOM RIGHT OF POST CARD]
[BACK SIDE OF INSERT]
[CENTERED AT TOP BETWEEN LEFT AND RIGHT SIDE OF INSERT IN GOLD BORDER]
* Dick Davis Digest (May 1996) * Wellington Letter (May 1996) * Forecasts &
Strategies (February 1996) * Monetary Digest (February 1996) * The Ruff Times
(March 11, 1996) * Adrian Day's Investment Analyst (April 1996) * Lou Rukeyser's
Mutual Funds (May 1996)
MEET THE UNITED SERVICES GOLD AND NATURAL RESOURCES TEAM
VICTOR FLORES
* Chief Investment Officer and Portfolio Manager of the U.S. World Gold Fund
and the U.S. Gold Shares Fund
* Chartered Financial Analyst
* M.A. in Energy and Mineral Resources Management and B.S. in Geological
Sciences from the University of Texas at Austin
DAVID MAYNARD
* Senior Research Analyst, Gold Mining
* B.E. with Honors in Civil Engineering, Dundee University, Scotland and B.E.
with Honors in Mining Engineering, Imperial College, University of London
* Metals trader with Lehman Brothers, London, and Brody White Ltd.
* Underground hard rock miner with Hartebeestefontein Gold Mine, South
Africa, and Wheal Jane Tin Mine, England
MICHAEL CHAPMAN
* Senior Research Analyst
* M.A. in Energy and Mineral Resources and B.S. in Petroleum Engineering from
the University of Texas at Austin
* Interned with British Gas and Coffman Exploration
* Former Petroleum Engineer with Unocal's Offshore California Oil and Gas
Operations
FRANK HOLMES
* President and CEO of United Services Funds
* B.A. in Economics and Natural Science from Huron College, University of
Western Ontario
* Experience in investment banking, international capital markets, and the
gold mining industry
* Fellow of the Canadian Securities Industry
NAIJIANG ZHOU
* Senior Research Analyst
* Ph.D. in Energy Economics and M.B.A. in Operations Management from the
University of Texas at Austin
* B.S. in Petroleum Engineering from the Petroleum University, China
* Worked as an analyst at the Bureau of Economic Geology at the University of
Texas at Austin
RALPH ALDIS
* Director of Research and Analysis and Portfolio Manager of the U.S. Global
Resources Fund
* Chartered Financial Analyst
* M.A. in Energy and Mineral Resources, University of Texas at Austin and
B.S. with Honors in Geology, Stephen F. Austin State University.
* Former research analyst with Neil A. Eisner & Co., consulting firm
specializing in energy industry regulation and litigation
Mutual Fund Magazine's **
"Best Gold Fund"
Like all mutual funds, Fund shares are not backed by the U.S. government. Past
performance is no guarantee of future results. *U.S. stands for United Services.
Investment returns and principal value will fluctuate so that you may have a
gain or a loss when you sell shares. Investments in gold funds involve special
risks.
- ----------
** Based upon a survey of 250 personal finance experts. Gold bullion does not
pay dividends. U.S. World Gold reflects total return with all dividends
reinvested.
[BACK OF POSTCARD]
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