Rule 497(e);
"Rule 482 Ad"
Reg. Nos. 33-86006; 811-8850
Front Side of Postcard
The Secret's Out
[graphic depicting three people watching a horse race,
talking about ICAP; the jockey riding the horse and the
horse overhear the discussion and question what "ICAP"
is]
Reverse Side of Postcard
Visit us at the Morningstar Conference at Booth #17 and
we will tell you all our secrets.
You'll hear about our Family of Mutual Funds:
Discretionary Equity Portfolio
Equity Portfolio
Select Equity Portfolio
Euro Select Equity Portfolio
[ICAP Logo]
Family of Mutual Funds
A Prospectus may be obtained from the ICAP Funds by
calling 1-888-221-ICAP (1-881-221-4227). Please read
it carefully before investing.
