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The Olstein Funds

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Olstein Capital Management, L. P.

Olstein Capital Management, L. P., consists of an experienced portfolio management and research team.

Robert A. Olstein is the Chairman and Chief Investment Officer of the Fund's Manager, and is principally responsible for the management of the Fund's portfolio of securities. Mr. Olstein has been engaged in various aspects of securities research and portfolio management for both institutional and retail clients since 1968.

Mr. Olstein is considered to be an expert in corporate financial disclosure and reporting practices. In 1971, Mr. Olstein co-founded the "Quality of Earnings Report" service, which pioneered the concept of using inferential financial screening techniques to analyze balance sheets and income statements to alert institutional portfolio managers to positive or negative factors affecting a company's future earnings power and value of a company's stock.

Mr. Olstein is also an outspoken leader in the financial community on topics such as analyst conflicts of interest, unethical corporate behavior, and corporate accounting practices.

Prior to forming Olstein Capital Management, L.P. (formerly Olstein & Associates, L. P.), Mr. Olstein managed portfolios for individuals, corporations and employee benefit plans at Smith Barney, Inc. and its predecessor companies between 1981 and 1995 as a Senior Vice President/Senior Portfolio Manager.

Mr. Olstein's Credits Include:

	Senior member of the New York Society of Securities Analysts
	Fellow of the Financial Analysts Federation
	Past recipient of the Graham & Dodd Scroll Award
	Testified before the U. S. Senate Banking Committee on bank accounting
	Frequent participant in various business television and radio programs.
	Frequently quoted and featured in a variety of business publications.

An investor should consider the Fund's investment objectives, risks, charges and expenses before investing. For this and other information you may contact your investment representative, call (800) 799-2113 or click here to download a free prospectus. Please read the prospectus carefully before investing. Past performance is no guarantee of future results.

These materials are not an offer to sell or a solicitation to buy any security, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer, solicitation, purchase, or sale may not lawfully be made. Important legal information - please read the disclaimer before proceeding.

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