The Wall Street Journal Recognizes Four Oak Funds on its Lists of Top 10 Performers in 2009

White Oak Select Growth, Pin Oak Aggressive Stock, River Oak Discovery and Live Oak Health Sciences were named Category Kings in The Wall Street Journal, based on one-year performance in their respective peer groups as of December 31, 2009. These funds outperformed 90% (or more) of the funds in their individual peer group categories on both a one-year and three-year basis.

All Oak Funds Rank in Top Half of Peer Group Categories in 2009

Lipper rankings provide an industry standard for relative performance among funds with similar investment mandates. (For example, White Oak Select Growth was the 19th best-performing fund in 2009 out of 810 funds in its large-cap growth peer group category; this ranking places White Oak in the top 3% of its category.)

White Oak: Top 3% of large-cap growth funds. #19 out of 810 funds
Pin Oak: Top 1% of multi-cap growth funds. #2 out of 455 funds
Rock Oak: Top 15% of multi-cap growth funds. #70 out of 455 funds
River Oak: Top 2% of small-cap growth funds. #12 out of 540 funds
Red Oak: Top 14% of science & technology funds. #20 out of 142 funds
Black Oak: Top 40% of global science/technology funds. #31 out of 77 funds
Live Oak: Top 10% of health/biotechnology funds. #11 out of 111 funds

All returns for periods greater than one year are annualized.

The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. See below for performance data through December 31, 2009. Lipper rankings are based on total return without regard to sales, deferred sales or redemption charges for the one-year period as of December 31, 2009. White Oak's Lipper rankings for the 3-, 5- and 10-year periods are: 24/698; 376/579 and 273/310 Large Cap Growth funds respectively. Pin Oak's Lipper rankings for the 3-, 5- and 10-year periods are: 4/374; 75/307 and 164/170 Multi Cap Growth funds respectively. River Oak's Lipper ranking for the 3-year period is: 11/472 Small Cap Growth funds. Live Oak's rankings for the 3- and 5-year periods are: 10/103 and 20/86 Health/Biotechnology funds; Rock Oak's Lipper rankings for the 3- and 5-year periods are: 115/374 and 192/307 Multi-Cap Growth funds; Red Oak's Lipper rankings for the 3-, 5- and 10-year periods are: 36/128, 53/115 and 44/61 Science & Technology funds and Black Oak's Lipper rankings for the 3- and 5-year periods are: 6/64 and 43/58 Global Science/Technology funds. Gross expense ratios are: White Oak: 1.41%; Pin Oak: 1.51%; River Oak: 1.76%; Live Oak: 1.52%; Rock Oak: 1.56%; Red Oak: 1.58% and Black Oak: 1.76%. The Advisor has contractually agreed for a period of 1 year from the date of the prospectus to waive all or a portion of its fee for the Fund (and to reimburse expenses to the extent necessary) in order to limit the total operating expenses to 1.25% for White Oak, Pin Oak and Rock Oak and 1.35% for River Oak, Live Oak, Black Oak and Red Oak.

The S&P 500, Russell 2000 Growth and NASDAQ 100 are unmanaged indexes. The indexes do not reflect any management fees, transaction costs, or expenses. Investors cannot invest directly in an index.

Oak Associates Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Oak Associates, Ltd. or any other affiliate.