<PAGE>
VERBAL VOTING SCRIPT
FOR
WILLAMETTE VALUE FUND
Introduction
Hello, my name is _____________________. I'm calling from [name of entity, plus
address or phone number] on behalf of Willamette Value Fund
May I please speak to __________________?
ADDRESS SHAREHOLDER NEEDS
The Board of Trustees of Willamette Value Fund mailed a proxy statement that
requires your attention. I'm calling to find out if you received these
materials. May I have a moment of your time?
Have you received the proxy materials in the mail?
If not, then help the shareholder obtain the material he/she requires. In
either case, make sure the address is correct, make any necessary
corrections on your records, indicate on your records the actions you have
taken. If the shareholder says he/she just got the materials, explain that
someone may call again in a few days to ask if he/she would like to vote by
telephone. Also, indicate that, if the shareholder has questions, he/she
may call 1-877-945-3863. If the shareholder has had time to review the
proxy statement, proceed as follows:
If it's convenient for you, I can record your vote over the telephone right now.
Is it convenient?
Allow the shareholder to give you a response. If the shareholder says
he/she has already sent in the proxy, do not ask the shareholder how he/she
voted. If the shareholder does not want to vote by telephone, thank him or
her for their time and say "good bye." If the shareholder wishes to vote
by telephone, proceed as follows:
Here's how we'll proceed. The phone call will be recorded to assure accuracy.
I will ask you for your name, confirmation that you have received the proxy
materials, your address, and the last 4 digits of your social security number.
We'll then take your vote. Within 72 hours, we'll mail you a letter confirming
your vote. Are you ready?
If you are going to take a vote, remember to allow the phone call to be
recorded.
BEGIN THE VOTE
At this time, I'll begin recording the call. First, I'll reintroduce myself.
My name is ________calling from ____________ on behalf of Willamette Value Fund.
Today's date is _______ and the time is ___________.
May I please have your name?
May I ask if you have received the proxy materials? May I please have your
address? And finally the last 4 digits of your social security number?
Record the last 4 digits of the SSN. You may not proceed without this
information. If the shareholder refuses to give this information, explain
that it is for security purposes only, to assure that only the proper
person can vote his/her shares. However, if the shareholder continues to
resist, you have no choice but to politely end the call. Record the
results of this call.
<PAGE>
ACTUAL VOTING
Your Board of Trustees has made several proposals that it has studied carefully.
It recommends that you vote in favor of these proposals. Would you like to vote
in favor of these proposals as recommended by your Board?
If the shareholder indicates that he or she wishes to vote in favor of both
proposals, record a vote in favor of Proposal 1 and Proposal 2. If the
shareholder wishes to vote on each proposal separately, you may read the
proposals individually; end each proposal by saying, "YOUR BOARD RECOMMENDS
THAT YOU VOTE IN FAVOR. HOW WOULD YOU LIKE TO VOTE?" For each proposal,
the valid responses are
F = For proposal.
A = Against proposal.
B =Abstain.
CLOSING
Your vote has been recorded. You have voted ____________. Is that correct?
Indicate either that the votes were verified or make the appropriate
corrections and confirm them with the shareholder.
In the next 72 hours, we'll mail you a letter confirming your votes. If you
wish to change your vote for any reason, please call us at the number listed in
the letter. Thank you for your time.
Turn off the tape recorder. Record the shareholder's name and number of
shares on your log. Finish the phone call. Indicate whether or not the
call produced valid votes.
<PAGE>
WILLAMETTE VALUE FUND
Answering Machine Message
Hello, this is ____________ of [name of firm] calling on behalf of the
WILLAMETTE VALUE FUND. You should have received material in the mail concerning
the SHAREHOLDERS MEETING scheduled to be held on MAY 9, 2000.
At your earliest convenience, please sign, date, and return the proxy card in
the envelope provided. If you have any questions, need proxy material or would
like to vote by telephone, please call _____________.
Thank you for your consideration.
