Announcement from Patriot Asset Management Limited

As of 30 April 2010, Patriot Asset Management Limited (‘Patriot’) has been acquired by Ironbark Asset Management Pty Ltd (‘Ironbark’).

The Patriot Australian Share Fund and the Patriot Small Companies Fund have now been rebranded and re-launched as the Ironbark Karara Australian Share Fund and Ironbark Karara Australian Small Companies Fund (‘the Funds’).

For a copy of the Product Disclosure Statement, factsheet, quarterly report, performance or unit prices for the Funds, please visit the Ironbark Asset Management website http://www.ironbarkam.com/

 Alternatively, contact Client Services on 1800 034 402.

The Ironbark Karara Australian Share Fund ARSN 114 291 299 and the Ironbark Karara Australian Small Companies Fund ARSN 114 291 486 are issued by Patriot Asset Management Ltd ABN 94 106 888 662 AFSL 284442, the Responsible Entity and a wholly owned subsidiary of Ironbark Asset Management Pty Ltd ABN 53 136 679 420 AFSL 341020.