ALPS Mutual Funds Services

ALPS Mutual Funds services

April 24,2000

Martin J. Maddaloni, General President of the United Association of

Journeymen and Apprentices of the Plumbing and Pipefitting Industry

of the United States and Canada announces the launch of the

United Association S&P 500 Index Fund.

The new Fund is the first union-affiliated S&P 500 Index mutual fund and

is designed to serve the long term investment needs of United Association

local unions, individual members, their families, friends and neighbors.

"We are proud that both institutional investors, such as retirement benefit

funds, and individual investors, such as union members, can be a part of

new strategy for our future," stated Mr. Maddaloni.

The Fund is no-load, has competitive fees and a website (www.uafund.com)

that is directly linked to the United Association’s website (www.ua.org)

The Fund intends to approximate, before expenses, the investment results

of the S&P 500 Index, which is composed of 500 widely-held common stocks.

According to Ned Burke, Executive V.P. for ALPS Mutual Funds Services Inc.,

the Fund’s administrator and distributor, "We are pleased to be associated with

this first-of-a-kind mutual fund. Our initial marketing efforts for the Fund will

focus on two distinct groups under the United Association: the officers and

financial advisors who manage benefit plans of the United Association across

the country, as well as their individual members".

To serve both investor types the Fund has two classes of shares—a retail class

with an expense ratio of 0.17% (after waivers) and an institutional class with

an expense ratio of 0.135%. The Fund was launched on March 1, 2000 and as

of April 18, 2000 had $575 million worth of assets under management.

The 110-year old United Association is made up of over 300,000 members

representing over 400 local unions across North America. Based in Denver,

Colorado, ALPS is a member of the NASD and is the Fund’s accountant,

transfer agent, shareholder servicing agent, administrator, and distributor.

National City Investment Management Company (Cleveland, 0H) is the

investment advisor and custodian for the Fund.

For more complete information about the UA S&P 500 Index Fund, including fees & expenses;

please call 1-888-766-8043 for a prospectus.
Read the prospectus carefully before investing or sending money.