Asset Class: 100% Stocks Benchmark: S&P 500 U.S. Stock Index Management Style: Active

The MMBB Social Awareness Fund seeks long-term capital growth while giving special consideration to certain social criteria. The fund does not invest in alcohol, tobacco, gambling or pornography companies. The fund excludes companies with these core businesses, and also excludes companies that derive 10% or more of gross revenue from sales support or key component manufacturing for the alcohol or tobacco industries, or from providing goods or services for the gambling industry.

The fund invests in a broad range of U.S. stocks that meet the fund's social requirements. While the fund attempts to beat its benchmark, there is no guarantee that it will do so. And while the fund's performance will be similar to that of the U.S. stock market, its performance may vary significantly from that of its benchmark on a year-to-year basis. This fund is primarily for investors with fairly long time horizons (more than 7 years).

• Since it invests entirely in stocks, the MMBB Social Awareness Fund carries fairly high investment risk. Investment risk is the chance of losing any of your original investment.
  
  
• This fund has short-term market risk. There will be ups and downs in short-term return due to rising or falling stock markets as investors change their perceptions of the economy and individual companies. However, over extended periods the market's ups have tended to outweigh the downs. Your chances of losing money are reduced when you invest for the long term; the overall strategy of this fund.
  
  
• The Social Awareness Fund is designed to provide some long-term growth of capital and to keep pace with or exceed the rate of inflation over time.
  

Mellon Equity Social Awareness Fund

As of December 31, 2007, 1.23% which includes the 0.40% administration fee.