BERWYN INCOME FUND

Bloomberg TV. December 17, 2008
Robert E. Killen, co-manager of the Berwyn Fund and chairman of The Killen Group, Inc., spoke with Bloomberg's Erik Schatzker in a televised interview. He advised the avoidance of "popular" investments.

Investment Advisor. December 2008 Issue
A piece entitled "Finding a Balance" includes Berwyn Income Fund in its lists of one-year and three-year balanced fund sector leaders.

Dow Jones Newswire. November 25, 2008
Berwyn Income Fund "may be among the few places where investors can hide from the financial meltdown," according to reporter I.Ordonez.

Morningstar Website. November 11, 2008
William Rocco includes BIF in a group of four mutual funds with "the strategies, and -- at least as of quite recently -- the cash to make the most of this year's turmoil."

Morningstar Website. October 10, 2008
Analyst Marta Norton's piece on BIF states that "Berwyn Income is a stalwart in these tough times."

Fox Business Website. October 10, 2008
An article about "Conservative Allocation Funds" notes that Berwyn Income Fund is one of only "19 distinct U.S. equity and allocation funds identified by Morningstar as having gone at least nine consecutive calendar years with positive growth." BIF also has "a nine-year streak of positive annual returns," and is one of just four funds "doing better than a -10% year-to-date return as
of Oct. 8."

Wall Street Journal Online. October 7, 2008
Rob Wherry's piece entitled "Consistent Performers" ranks Berwyn Income Fund in the ten most consistently-performing mutual fund through September 30, 2008. "These funds got the top score on two Lipper criteria -- consistent return and preservation -- that measure an offering's ability to provide smooth, long-term performance regardless of market conditions."

Morningstar Analyst Report. May 21, 2008
Columnist Marta Norton reports that "Berwyn Income is solid," and once again describes the fund as a "powerful income generator." She also notes that the fund has "skirted most trouble spots" since the onset of the "mortgage and housing debacles." "It's hard not to be impressed with performance like this," she writes.

Wall Street Journal Online. February 19, 2008
An article on balanced funds lists Berwyn Income Fund as third among fourteen funds which "help protect against market downturns by mixing stock and bond holdings."

Morningstar.com, December 27, 2007
An updated analyst report subtitled "Berwyn Income is Made for Times Like These," written by Marta Norton, calls Berwyn Income Fund a "powerful income generator" and notes that it looks "beyond blue chips and high-quality government bonds to small caps, corporate bonds, and REITs. Casting that broad a net makes the fund a good diversification tool."

MEDIA RECOGNITION

The excerpts from the various publications are for informational purposes only and should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security. There is no guarantee that the information supplied is accurate, complete, or timely, nor does it make any warranties with regards to the results obtained from its use.

Past performance is not a guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For performance information current to the most recent month end please visit the "Price and Performance" section of the website.

Total returns include the reinvestment of all dividends, interest and other distributions, compounded daily. Returns for The Berwyn Funds are before taxes and net of all advisory and commission charges. Three year, five year and ten year returns are annualized.

An investor should consider each fund's investment objectives, risks, charges and expenses before investing. The fund's prospectus contains this and other relevant information, and should be read carefully before investing. A prospectus may be downloaded from the Fund Literature page of this Web site, or by calling the following toll-free number:
1-800-992-6757.