Bailard International Equity Fund Again Featured in "SmartMoney Fund Screen"

FOSTER CITY, CA, November 9 ,2005 - The Bailard International Equity Fund ("The Fund," ticker symbol: BBIEX) was recently featured in SmartMoney.com's "Fund Screen" on international funds for the second time this year. The article appeared on the SmartMoney Select.com Web site on October 21, 2005. The Fund was included in the listing of "International MultiCap Core" funds.

The article spotlighted "best performing international funds across all of Lipper’s international classifications." Screening criteria included three- and five-year returns in the upper half of a fund's Lipper classification, expenses in the lower half of the fund's Lipper classification, no load and a minimum initial investment of $5,000 or lower. Bailard is not responsible for the screening conducted by SmartMoney or for the content of the articles.

The full text of the article is available on SmartMoney Select.com at this link (subscription may be required; free trial available). The Fund was previously mentioned in a "SmartMoney Fund Screen" article in January 2005.

About the Bailard International Equity Fund

The Bailard International Equity Fund invests in international securities in developed and emerging market countries, which have specific risks, which include, but are not limited to, changes in currency exchange rates, lack of accurate public information and the higher risks that accompany investing in securities of issuers located in emerging market countries. Investors should consider the investment objectives, risks and charges and expenses of an investment carefully before investing. The prospectus contains this and other information about the Fund. Investors should read the prospectus carefully before investing. More information on the Bailard International Equity Fund (including the prospectus) is available at www.bailard.com/mutual_funds.html or by calling Bailard Fund Services, Inc. at (800) 882-8383. Bailard Fund Services, Inc. is a wholly owned subsidiary of Bailard, Inc.