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Free Enterprise Action Fund Presents a Political Contributions Shareholder Proposal at Disney Annual Meeting; Disney CEO Outs Politics Ahead of Profits, Mutual Fund Says , March 10, 2009

Obama Selects 'Worst CEO of 2008' to Economic Advisory Panel, Says the Free Enterprise Action Fund (Ticker: FEAOX); How Does Running GE into the Ground Qualify CEO Jeff Immelt to Help Steer Nation in Time of Crisis, Mutual Fund Asks, February 9, 2009

Five Worst Non-Financial-Crisis-Related CEOs of 2008 Announced by the Free Enterprise Action Fund (Ticker: FEAOX), December 16, 2008

GE’s Board of Directors should dismiss CEO Jeff Immelt, says the Free Enterprise Action Fund (Ticker: FEAOX); Immelt’s failed leadership hurts shareholders, October 20, 2008

On 9-11 Anniversary, Free Enterprise Action Fund Files Shareholder Proposal Following Disney’s Refusal to Sell 9-11 TV Miniseries DVD; FEAOX Sends Disney Board Members DVD of New Documentary Exposing Political Intimidation of Company, September 10, 2008

SEC petitioned to warn companies against making false and misleading claims on global warming; Misinformation puts investors at risk, says Free Enterprise Action Fund (Ticker: FEAOX), July 23, 2008

Obama Advised Against Picking Sam Nunn as Running Mate; Former Senator and General Electric Board Member Allowed GE to Do Business with Iran, June 24, 2008

GE’s Board of Directors should dismiss CEO Jeff Immelt, says the Free Enterprise Action Fund (Ticker: FEAOX); Immelt’s support for economy killing global warming legislation being debated in Senate is last straw, Fund says, June 3, 2008

2008 Proxy Voter Guide for Libertarian and Conservative Shareholders Released by Free Enterprise Action Fund (Ticker: FEAOX), April 14, 2008

SEC Allows Shareholder Effort to Ask Banks About ‘Green-washing’; Citigroup and Bank of America Must Put ‘Equator Principles’ Proposal to Shareholder Vote, March 17, 2008

Disney CEO shouldn’t put personal politics and favorite presidential candidate over shareholders; Shareholders urged in new YouTube video to attend annual meeting and demand to know why Disney isn’t selling ‘The Path to 9/11’ DVD, February 26, 2008

UN climate meeting promotes risky corporate climate schemes, says Free Enterprise Action Fund (Ticker: FEAOX); Mutual fund warns that corporate climateering threatens shareholder and state retiree pension assets, February 14, 2008

SEC denies Lehman Brothers bid to block global warming shareholder proposal; Lehman climate policy based on erroneous information says Free Enterprise Action Fund (Ticker: FEAOX), February 6, 2008

SEC denies General Electric bid to block global warming shareholder proposal; Amid economic downturn, GE should justify lobbying for economy-harming climate legislation, says Free Enterprise Action Fund (Ticker: FEAOX), January 24, 2008

SEC Petitioned to Require Companies to Disclose Risk of Global Warming Regulation; Free Enterprise Action Fund (Ticker: FEAOX) Says Companies Risk Earnings While Keeping Shareholders in the Dark, October 30, 2007

CEOs May Mislead Shareholders By Not Disclosing Risks To Earnings From Global Warming Regulations, Says Free Enterprise Action Fund (Ticker: FEAOX) at Senate Hearing; Mutual Fund Demands Debate On Global Warming In Boardrooms, June 28, 2007

Procter & Gamble (Ticker: PG ) refuses to publicly acknowledge need for debate over sustainable development; Free Enterprise Action Fund (Ticker: FEAOX) to raise issue with CEO at annual shareholder meeting , May 29, 2007

Free Enterprise Action Fund (Ticker: FEAOX) Calls for Warning Labels on Mercury-Containing Compact Fluorescent Light Bulbs , May 21, 2007

Free Enterprise Action Fund (Ticker: FEAOX) Supports Lord Browne’s Resignation from Goldman Sachs (Ticker: GS), May 14, 2007

Free Enterprise Action Fund Uses Shareholder Advocacy to Demand Debate on Global Warming, April 19, 2007

General Electric (Ticker: GE) shareholders ask: ‘Is CEO Jeff Immelt lobbying against GE’s earnings?’; Free Enterprise Action Fund (Ticker: FEAOX) urges GE shareholders to demand justification for company’s global warming lobbying , April 5, 2007

ISS Urges Social Investors to Support Sustainability Shareholder Proposal at Goldman Sachs (Ticker: GS);Free Enterprise Action Fund (Ticker: FEAOX) Questions Goldman's Role in TXU (Ticker: TXU) Buyout, March 15, 2007

GE Loses Bid to Block Global Warming Shareholder Proposal; Free Enterprise Action Fund (Ticker: FEAOX) Calls On GE to Justify Lobbying for Global Warming Regulation, February 12, 2007

Free Enterprise Action Fund (Ticker: FEAOX) Announces 2006 Accomplishments and 2007 Goals, November 20, 2006

SEC petitioned to issue ‘BP rule’; U.S. investors should have traditional shareholder rights in foreign companies that lobby or have significant social impacts, Free Enterprise Action Fund (Ticker: FEAOX) says, PR Newswire, September 5, 2006

JPMorgan Chase agrees to discuss global warming lobbying with mutual fund; Support for shareowner proposal key to bank decision, says Free Enterprise Action Fund, PR Newswire, May 18, 2006

JPMorgan Chase Should Lobby for Litigation Reform, Not Global Warming, Says Mutual Fund in Letter to Bank Shareholders, PR Newswire, May 11, 2006

General Electric CEO Jeff Immelt refuses to justify lobbying for global warming regulation; Global warming shareholder resolution wins sufficient support to be voted again in 2007, PR Newswire, May 2, 2006

Goldman Sachs called on to correct statement made at annual meeting; Shareholders request CEO to reimburse Goldman Sachs, PR Newswire, April 6, 2006

Goldman Sachs Annual Meeting Report, PR Newswire, April 7, 2006

Goldman Sachs called on to correct statement made at annual meeting; Shareholders request CEO to reimburse Goldman Sachs, PR Newswire, April 6, 2006

Does CEO Hank Paulson run Goldman Sachs for himself or shareholders?, Letter to Goldman Sachs Shareowners, March 21, 2006

Is CEO Jeff Immelt lobbying against GE's earnings?, Letter to GE Shareowners, March 17, 2006

PepsiCo Urged to Stop Opposing Shareholder Resolution Requesting Disclosure of Charitable Contributions; Mutual Fund Says Pepsi Should Join Boeing, Coca-Cola and Citigroup and Allow Shareholders to Vote on Corporate Giving Transparency, PR Web, February 20, 2006

GE Loses Bid to Block Global Warming Shareholder Resolution; Mutual Fund Calls On GE to Stop Advocating Global Warming Regulation, PR Web, February 1, 2006

GE Urged to Stop Opposing Shareholder Resolution on Global Warming Science, PR Web, January 12, 2006

Microsoft Called on to Reverse Phase-out of PVC Plastic; Mutual Fund Sees Move as Unwarranted and Harmful, PR Web, December 13, 2005

Free Enterprise Action Fund Requests Review of Goldman Sachs' Environmental Policy, PR Web, November 30, 2005

Free Enterprise Action Fund Urges Business Roundtable to Defend Capitalism Against Congressional Overreaching, PR Web, November 10, 2005

Free Enterprise Action Fund Urges Insurers to Conduct Independent Analyses of Alleged Link Between Global Warming and Weather-Related Losses, PR Web, November 1, 2005

Free Enterprise Action Fund Asks ‘Why are the leaders of the socially responsible investment industry stonewalling target of violent hate speech?’, PR Web, October 20, 2005

Free Enterprise Action Fund Calls on Calvert Investments and KLD Research to Withdraw Sponsorship of ‘Socially Responsible’ Conference Featuring Speaker Who Advocated Violence Against Fund Managers , PR Web, October 10, 2005

Free Enterprise Action Fund Warns Business Roundtable Member Companies To Focus On Real Business Growth Strategies, Not ‘Feel-Good’ Public Relations Stunts , PR Web, September 28, 2005

Free Enterprise Action Fund Calls on Citigroup to Diversify the Bank’s ‘Environment Partners’ Program, PR Web, September 22, 2005

Free Enterprise Action Fund Questions GE Decision To Side With Global Warming Activists, PR Web, September 14, 2005

Free Enterprise Action Fund asks ConEd, PG&E to disclose involvement with state global warming initiatives , PR Web, September 7, 2005

Free Enterprise Action Fund Asks Financial Service Companies Whether Their Support For Social Security Reform Has Been Impacted By Activist-Investor Pressure , PR Web, August 17, 2005

A Pioneering Mutual Fund for Pro-Free-Market Investors, State Policy Network News, July/August 2005

Free Enterprise Action Fund, Human Events, June 13, 2005

Free Enterprise Action Fund Requests Audit Committee Review of JPMorgan Chase Capitulation to Social Activist Demands, Business Wire, April 26, 2005

An investor should consider the fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the Free Enterprise Action Fund can be found in the fund's prospectus. To obtain a prospectus, please call 1-800-766-3960 or click here. Please read the prospectus carefully before investing.

Mutual fund investing involves risk, including loss of principal.

The Free Enterprise Action Fund is advised by Action Fund Management, LLC., which receives a fee for its services, and is distributed by Northern Lights Distributors LLC, which is not affiliated with Action Fund Management, LLC.

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