Select Growth Stock Account

Objective:
The Discovery Equity Advisors Select Growth Stock Account seeks above average market returns, primarily from capital growth, by investing in common stocks.

Principal Investment Strategy:
The account makes investments that emphasize growth opportunities in industry groups and specific stocks. The advisor uses a bottom up philosophy to select specific companies who rate at or near the top of their industry in relative strength and earnings per share. Companies are selected largely based on earnings growth and consistency. "Overextended" and under-performing stocks are periodically removed from the portfolio.

The account typically invests in mid and large capitalization companies but reserves the right to invest in companies of any size.

Principal Risks:
The return on and value of an investment in the account will fluctuate in response to stock market movements. Common stocks are subject to market risks, such as rapid increase or decrease in a stock's value or liquidity, and fluctuations due to a company's earnings, economic conditions and other factors beyond the control of the advisor. As a result, there is a risk that you could lose money by investing in this account.

Portfolio Turnover:
The account intends to use long-term investing as a primary means of achieving its investment objective. The accounts rate of portfolio turnover will depend upon market and other conditions, and will be a factor when the advisor deems portfolio changes necessary or appropriate. All positions are held a minimum of 12 months, making long term capital gains the primary focus.

Investment Returns: .................................................... Minimum Investment:

1 yr……..…     -4.8%                                                                    $25,000
3 yr……..…       3.3%
5 yr………..    -11.0%
(Annual returns as of June 30, 2006)