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JOB NO. 243
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[GRAPHIC: U.S. Global Investors Logo]
DIVIDENDS PAID SINCE
JANUARY 1, 1995
PER SHARE
---------------------------
FUND DATE PAID DIVIDEND REINVEST PRICE
- ----------------------------------- --------- -------- --------------
U. S. Gold Shares Fund 06/30/1995 .030 2.14
12/29/1995 .030 1.94
06/28/1996 .020 1.84
12/31/1996 .030 1.40
U. S. All American Equity Fund 03/31/1995 .110 18.61
06/30/1995 .120 20.08
09/29/1995 .120 21.26
12/29/1995 .070 22.37
03/29/1996 .090 23.40
06/28/1996 .100 24.55
09/30/1996 .110 25.14
12/31/1996 .940 26.08
03/31/1997 .094 26.73
U. S. Global Resources Fund 12/29/1995 .080 5.98
12/31/1996 .940 7.08
U. S. Tax Free Fund 01/31/1995 .050 11.14
02/28/1995 .050 11.33
03/31/1995 .050 11.43
04/28/1995 .050 11.41
05/31/1995 .050 11.65
06/30/1995 .050 11.55
07/31/1995 .040 11.57
08/31/1995 .050 11.63
09/29/1995 .050 11.66
10/31/1995 .050 11.75
11/30/1995 .050 11.85
12/29/1995 .050 11.91
01/31/1996 .050 11.93
02/29/1996 .050 11.82
03/29/1996 .040 11.64
04/30/1996 .050 11.56
05/31/1996 .050 11.52
06/28/1996 .040 11.58
07/31/1996 .050 11.63
08/30/1996 .050 11.58
09/30/1996 .040 11.68
10/31/1996 .050 11.73
11/29/1996 .050 11.86
12/31/1996 .050 11.78
01/31/1997 .050 11.77
02/28/1997 .048 11.82
03/31/1997 .049 11.66
04/30/1997 .049 11.71
U. S. Income Fund 03/31/1995 .070 12.79
06/30/1995 .100 13.35
09/29/1995 .070 13.99
12/29/1995 .330 14.45
03/29/1996 .100 14.67
06/28/1996 .100 14.94
09/30/1996 .090 14.65
12/31/1996 2.310 13.34
03/31/1997 .099 13.02
U. S. World Gold Fund 12/31/1996 1.110 19.16
U. S. Real Estate Fund 06/30/1995 .040 9.80
12/29/1995 .200 10.78
06/28/1996 .320 10.97
12/31/1996 .110 13.67
United Services Near-Term Tax Free
Fund 01/31/1995 .030 10.36
02/28/1995 .040 10.38
03/31/1995 .040 10.41
04/28/1995 .040 10.40
05/31/1995 .040 10.47
06/30/1995 .040 10.47
07/31/1995 .030 10.50
08/31/1995 .040 10.51
07/31/1996 .040 10.40
08/30/1996 .040 10.39
09/30/1996 .040 10.42
10/31/1996 .040 10.45
11/29/1996 .040 10.52
12/31/1996 .050 10.47
01/31/1997 .040 10.47
02/28/1997 .038 10.49
03/31/1997 .040 10.38
04/30/1997 .041 10.39
Bonnel Growth Fund 12/15/1995 .650 13.75
11/26/1996 .165 17.47
China Region Opportunity Fund 06/30/1995 .080 6.67
09/29/1995 .010 6.75
12/29/1995 .020 5.99
06/28/1996 .070 6.43
09/30/1996 .030 6.36
Money Market Fund Month Dividend Factor
- -------------------------------------- --------------- ---------------
U. S. Treasury Securities Cash Fund January 1995 .00352421687
February 1995 .00371510817
March 1995 .00455376803
April 1995 .00383775411
May 1995 .00430011690
June 1995 .00472970570
July 1995 .00388899548
August 1995 .00414555093
September 1995 .00412068332
October 1995 .00398635143
November 1995 .00388474923
December 1995 .00410223558
January 1996 .00347834850
February 1996 .00319517419
March 1996 .00339128880
April 1996 .00325723511
May 1996 .00360782664
June 1996 .00318922526
July 1996 .00357896659
August 1996 .00393943736
September 1996 .00325864645
October 1996 .00365231001
November 1996 .00371998344
December 1996 .00367779039
January 1997 .00371707911
February 1997 .00323035936
March 1997 .00322722393
April 1997 .00339009910
May 1997 .00335672478
U. S. Government Securities Savings Fund January 1995 .00418067857
February 1995 .00421986600
March 1995 .00493674616
April 1995 .00431896640
May 1995 .00473447168
June 1995 .00493250479
July 1995 .00437292940
August 1995 .00463096415
September 1995 .00461619828
October 1995 .00441599656
November 1995 .00438819979
December 1995 .00461406304
January 1996 .00427210479
February 1996 .00392662544
March 1996 .00412387203
April 1996 .00409670900
May 1996 .00453682654
June 1996 .00385767651
July 1996 .00428109272
August 1996 .00465910944
September 1996 .00396198526
October 1996 .00433911578
November 1996 .00432931797
December 1996 .00430221110
January 1997 .00446683336
February 1997 .00392855178
March 1997 .00408015005
April 1997 .00428627748
May 1997 .00417689821
- --------------------------------------------------------------------------------
For more complete information about U.S. Global Investors' Funds,
including charges and expenses, click [here] for a prospectus.
Read it carefully before you invest or send money. It details the special
risks, such as political, economic, and currency risks, of investing in
emerging markets.
================================================================================
IN REGARDS TO ALL OF U.S. GLOBAL INVESTORS' FUNDS: Past performance is no
guarantee of future results. Investment return and principal of non-money market
fund accounts will fluctuate so that you may have a gain or loss when you sell
shares. U.S. stands for United Services.
IN REGARDS TO U.S. GLOBAL INVESTOR'S MONEY MARKET FUNDS: Like all other mutual
funds, Fund shares are not backed by the U.S. government or its agencies;
however, the securities which the U.S. Government Securities Savings Fund
invests in are. The Funds are managed to maintain a stable $1 per share value,
though there is no assurance they will be able to do so.
IN REGARDS TO THE U.S. GOVERNMENT SECURITIES SAVINGS FUND, THE U.S. TAX FREE
FUND, THE UNITED SERVICES NEAR-TERM TAX FREE FUND, THE U.S. ALL AMERICAN EQUITY
FUND, THE CHINA REGION OPPORTUNITY FUND, AND THE REGENT EUROPEAN FUND: The
Funds' Advisor has guaranteed total fund expenses (as a percentage of net
assets) will not exceed 0.40%, 0.40%, 0.70%, 0.70%, 2.25%, and 3.25% through
6/30/97 and until such later date as the Advisor determines. The Advisor for
these Funds subsidized certain Fund expenses, enhancing the yield or total
return by approximately 0.31%, 1.08%, 1.51%, 1.19%, 0.63%, and (N/A) for the
year ended 3/31/97.
IN REGARDS TO THE U.S. TAX FREE FUND, THE UNITED SERVICES NEAR-TERM TAX FREE
FUND, AND THE CHINA REGION OPPORTUNITY FUND: Some income may be subject to
state, federal, or AMT taxes for certain investors.
================================================================================
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FOR MORE
INFORMATION
[Weekly Investor] [Shareholder Reports]
[Fund Information] [For More Information]
[Fund Closing Prices] [Performance]
<PAGE>
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JOB NO. 241
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[GRAPHIC: U.S. Global Investors Logo]
ANNUALIZED AVERAGE TOTAL RETURNS FOR
MAY 29, 1997
================================================================================
FUNDS 1 Year 3 Year 5 Year 10 Year Inception Inception Date
- -------------------- ------ ------ ------ ------- --------- --------------
U. S. Gold Shares
Fund -46.28%-18.61% -11.18% -12.44% -.70% 07/01/1974
U. S. All American
Equity Fund 29.17% 21.88% 15.25% 8.34% 10.27% 03/04/1981
U. S. Global
Resources Fund 16.47% 13.51% 8.87% 1.57% 2.03% 08/03/1983
U. S. Tax Free Fund 6.84% 6.22% 6.37% 7.44% 7.71% 11/01/1984
U. S. Income Fund 10.72% 10.90% 9.35% 10.00% 9.15% 11/01/1983
U. S. World Gold
Fund -20.73% 3.77% 15.79% .20% 7.07% 11/27/1985
U. S. Real Estate
Fund 26.08% 12.59% 7.42% 6.65% 07/02/1987
United Services
Near-Term Tax Free 5.19% 4.53% 5.28% 5.88% 12/04/1990
Fund
Bonnel Growth Fund -1.65% 26.29% 10/17/1994
China Region
Opportunity Fund 33.98% 1.45% -3.59% 02/10/1994
Adrian Day Global
Opportunity Fund -10.62% 02/20/1997
Regent Eastern
European Fund 28.47% 03/31/1997
================================================================================
Money Market Fund Yields 7 Day Simple 7 Day Effective
---------------------------------------- ------------ ---------------
U. S. Treasury Securities Cash Fund 4.20% 4.29%
U. S. Government Securities Savings Fund 5.26% 5.40%
================================================================================
For more complete information about U.S. Global Investors' Funds,
including charges and expenses, click [here] for a prospectus.
Read it carefully before you invest or send money. It details the special
risks, such as political, economic, and currency risks, of investing in
emerging markets.
================================================================================
IN REGARDS TO ALL OF U.S. GLOBAL INVESTORS' FUNDS: Past performance is no
guarantee of future results. Investment return and principal of non-money market
fund accounts will fluctuate so that you may have a gain or loss when you sell
shares. U.S. stands for United Services.
IN REGARDS TO U.S. GLOBAL INVESTOR'S MONEY MARKET FUNDS: Like all other mutual
funds, Fund shares are not backed by the U.S. government or its agencies;
however, the securities which the U.S. Government Securities Savings Fund
invests in are. The Funds are managed to maintain a stable $1 per share value,
though there is no assurance they will be able to do so.
IN REGARDS TO THE U.S. GOVERNMENT SECURITIES SAVINGS FUND, THE U.S. TAX FREE
FUND, THE UNITED SERVICES NEAR-TERM TAX FREE FUND, THE U.S. ALL AMERICAN EQUITY
FUND, THE CHINA REGION OPPORTUNITY FUND, AND THE REGENT EUROPEAN FUND: The
Funds' Advisor has guaranteed total fund expenses (as a percentage of net
assets) will not exceed 0.40%, 0.40%, 0.70%, 0.70%, 2.25%, and 3.25% through
6/30/97 and until such later date as the Advisor determines. The Advisor for
these Funds subsidized certain Fund expenses, enhancing the yield or total
return by approximately 0.31%, 1.08%, 1.51%, 1.19%, 0.63%, and (N/A) for the
year ended 3/31/97.
IN REGARDS TO THE U.S. TAX FREE FUND, THE UNITED SERVICES NEAR-TERM TAX FREE
FUND, AND THE CHINA REGION OPPORTUNITY FUND: Some income may be subject to
state, federal, or AMT taxes for certain investors.
================================================================================
[Image]
FOR MORE
INFORMATION
[Weekly Investor] [Shareholder Reports]
[Fund Information] [For More Information]
[Fund Closing Prices] [Dividend History]
