Bob Olstein has an extensive financial background. He has been engaged in various aspects of securities research and portfolio management for both institutional and retail clients since 1968. In 1971, he co-founded the "Quality of Earnings Report" service, which pioneered the concept of using inferential financial screening techniques to analyze balance sheets and income statements to alert institutional portfolio managers to positive or negative factors affecting a company's stock.

Bob Olstein has been a professional money manager for fourteen years. For the past thirteen years, Mr. Olstein was a Senior Vice President/Senior Portfolio Manager at Smith Barney and managed approximately $160 million of individual and employee benefit accounts.

The Olstein Financial Alert Fund is managed under a unique value-based philosophy developed by Mr. Olstein. He is a senior member of the New York Society of Securities Analysts and a fellow of the Financial Analysts Federation. Mr. Olstein is a past recipient of the prestigious Graham & Dodd and Gerald M. Loeb Research Awards, has testified before the Senate Banking Committee on bank accounting and has been quoted in or author of numerous articles which have appeared in Barron's, The Wall Street Journal, Business Week, The New York Times, etc. on the subject of corporate reporting and disclosure practices.

*For complete information on the Olstein Financial Alert Fund,including charges and expenses, please call or write for a free prospectus. Read it carefully before you invest.

Olstein & Associates, L.P.
105 Corporate Park Drive
White Plains, NY 10604

Telephone: (914) 397-7565.

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