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WORLDWIDE GROWTH
OPPORTUNITIES IN
GOLD STOCKS
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U.S. WORLD GOLD FUND
A longstanding leader in gold fund
management, U.S. Global Investors,
formerly United Services,
established the first no-load
precious metals equity fund in
America and manages more than $500 (CHART)
million in gold assets today. Our
Gold Team is one of the most
qualified portfolio management
teams in the business and includes
investment professionals who have
extensive experience in geology,
mineral economics and mining
engineering.
[MOUNTAIN GRAPH PLOTTED FROM DATA IN TABLE BELOW]
<TABLE>
<CAPTION>
United Serv:
Gold Price World Gold
---------- ----------
<S> <C> <C>
2/29/92 ............................. 10000 10000
3/31/92 ............................. 9677.136 9300.284
4/30/92 ............................. 9525.617 8418.108
5/31/92 ............................. 9558.47 9097.168
6/30/92 ............................. 9725.283 9624.753
7/31/92 ............................. 10134.53 10182.46
8/31/92 ............................. 9629.273 9938.893
9/30/92 ............................. 9884.166 9938.893
10/31/92 ............................. 9608.032 9533.523
11/30/92 ............................. 9464.726 8783.028
12/31/92 ............................. 9427.908 9431.965
1/31/93 ............................. 9358.52 8986.143
2/28/93 ............................. 9277.805 9715.982
3/31/93 ............................. 9566.683 10841.72
4/30/93 ............................. 10033.99 12423.62
5/31/93 ............................. 10689.63 14097.6
6/30/93 ............................. 10717.95 14797.31
7/31/93 ............................. 11378.12 17586.71
8/31/93 ............................. 10522.53 16196.75
9/30/93 ............................. 10068.25 14168.17
10/31/93 ............................. 10467.3 16501.42
11/30/93 ............................. 10504.12 16196.75
12/31/93 ............................. 11094.9 17900.85
1/31/94 ............................. 10702.37 18519.67
2/28/94 ............................. 10805.74 17555.73
3/31/94 ............................. 11022.4 17251.63
4/30/94 ............................. 10661.3 15912.88
5/31/94 ............................. 10977.09 16663.39
6/30/94 ............................. 10995.78 15598.48
7/31/94 ............................. 10875.41 15568.05
8/31/94 ............................. 10924.98 16856.09
9/30/94 ............................. 11182.42 16906.8
10/31/94 ............................. 10870.88 16430.13
11/30/94 ............................. 10849.64 14097.45
12/31/94 ............................. 10854.17 14065.38
1/31/95 ............................. 10617.41 13384.47
2/28/95 ............................. 10659.89 13364.15
3/31/95 ............................. 11101.99 15467.86
4/30/95 ............................. 11038.26 15488.18
5/31/95 ............................. 10883.63 15457.69
6/30/95 ............................. 10977.09 16372.35
7/31/95 ............................. 10856.72 16900.82
8/31/95 ............................. 10828.4 17175.22
9/30/95 ............................. 10875.41 16738.21
10/31/95 ............................. 10836.9 15762.58
11/30/95 ............................. 10982.75 17154.89
12/31/95 ............................. 10960.38 18120.36
1/31/96 ............................. 11485.46 21199.7
2/29/96 ............................. 11346.68 20051.3
3/31/96 ............................. 11224.9 21667.2
4/30/96 ............................. 11081.88 22358.27
5/31/96 ............................. 11060.64 23110.32
6/30/96 ............................. 10818.77 21626.54
7/31/96 ............................. 10911.95 21585.89
8/31/96 ............................. 10944.52 22886.74
9/30/96 ............................. 10733.81 22175.34
10/31/96 ............................. 10747.97 21606.22
11/30/96 ............................. 10515.45 20549.28
12/31/96 ............................. 10457.67 19406.67
1/31/97 ............................. 9785.041 19503.43
2/25/97 ............................. 9981.874 20793.63
</TABLE>
Take action now. Call
1-800-557-2297, ext. 166
[GRAPHIC: U.S. GLOBAL INVESTORS LOGO]
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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. The World Gold Fund invests in equity securities which may pay dividends.
Gold bullion is a commodity which does not pay dividends. Average annual total
returns for the U.S. World Gold Fund as of 2/27/97 for 1 year: 3.06%, for five
years: 15.95%, for 10 years: 3.99%. Chart source: Micropal. Chart assumes a
$10,000 initial investment and all dividends reinvested. Chart performance as of
2/25/97. IBD106
