[U.S. GLOBAL INVESTORS LOGO]
June 1, 1997
Dear Shareholder,
As an investor in U.S. Global's tax-free municipal bond funds, you know how
their consistent superior performance can add to your current income and provide
stability for your bond portfolio.
Did you know that U.S. Global's government money market fund can also provide a
high yield, as well as even greater stability of principal? Ranked #1 by Lipper
for five-year performance as of 3/31/97, the U.S. Government Securities Savings
Fund has dominated its category with its high yield. And with its portfolio of
government and Treasury securities, your investment has the stability of the
safest kind of mutual fund.
In addition to high yield and stability, the Fund offers the instant liquidity
of checkwriting, so you can have instant access to your money. You can even use
the Fund to protect profits you have made in stock funds, or as a safe haven for
your short- or long-term cash holdings.
If you have any questions as you consider our fund for your investments, please
call 1-800-US-FUNDS or 1-800-873-8637 for more information. An Investor
Representative is waiting to serve you.
Sincerely yours,
/s/ Frank Holmes
FRANK HOLMES
Chairman & CEO
P.S. The Fund is also available for IRA accounts. Protect some of your
retirement assets in our stable money market fund today.
FOR MORE COMPLETE INFORMATION, INCLUDING CHARGES AND EXPENSES, CALL
1-800-US-FUNDS OR VISIT OUR WEB SITE AT WWW.USFUNDS.COM FOR A FREE PROSPECTUS.
PLEASE READ IT CAREFULLY BEFORE YOU INVEST OR SEND MONEY. PLEASE SEE THE REVERSE
FOR OTHER IMPORTANT FUND INFORMATION.
7900 Callaghan Road
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MAIL ADDRESS:
P.O. Box 29467
San antonio, Texas
78229-0467
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Tel 210-308-1234
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1-800-US-FUNDS
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Fax 210-308-1223
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email [email protected]
[rEVERSE OF LETTER]
IMPORTANT FUND INFORMATION
Past performance is no guarantee of future results. Investment returns and
principal of accounts in non-money market funds may fluctuate so that you may
have a gain or loss when you sell shares. U.S. stands for United Services.
Lipper Analytical Services ranked the U.S. Government Securities Savings Fund #5
and #1 for the one- and five-year periods ended 3/31/97 out of 115 and 79
government money market funds, respectively. The Fund, like all other mutual
funds, is neither a bank nor FDIC insured; nor is it backed by the U.S.
government or its agencies; however, the securities which it invests in are. The
Fund is managed to maintain a stable $1 per share value, though there is no
assurance it will be able to do so.
