IMPORTANT DISCLOSURES

June 15, 2009

Introduction to Quaker Long-Short Tactical Allocation Fund

Prepared to help you negotiate the path through ever-changing conditions
Presented by fund managers Jonathan Ferrell and Todd Draney of Rock Canyon Advisory Group

You Should Know: Quaker Long-Short Tactical Allocation Fund engages in short selling (selling securities not owned at time of sale), which involves special risks and requires special investment expertise. The Fund invests in small capitalization companies, which involve additional risks such as limited liquidity and greater volatility. As a non-diversified fund, which invests in a small number of issuers, changes to a single security held in the Fund will have a more pronounced negative effect on the Fund than if the investments were more widely distributed. Diversification does not assure a profit or protect against a loss in declining markets.

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Contact us:
Quaker Funds, Inc.
c/o U.S. Bancorp, LLC
P.O. Box 701
Milwaukee, WI 53201-0701
800.220.8888
www.quakerfunds.com