Fact Sheet - January 31, 2010.

Prospectus - November 1, 2009.

Electronic Investment Platforms
Ticker Symbol: FRNKX
Schwab, Fidelity, Pershing, TD Ameritrade, E-Trade, and Scottrade.
You can also make a direct investment via check or wire.

1. Read the prospectus
2. Print out and complete an account application
3. Make your check payable to "Frank Value Fund" (minimum initial investment $1,000, subsequent investment minimum $100)
4. Mail the completed application along with your check to:

Frank Value Fund
c/o Mutual Shareholder Services
8000 Town Center Drive, Suite 400
Broadview Heights, OH 44147

We also accept IRA accounts; please call us to request forms.