Closing Prices for May 14, 2008
| FUND | NAV | POP* | CHANGE** |
| Quaker Strategic Growth Fund A | 28.15 | 29.79 | -0.18 |
| Quaker Strategic Growth Fund B | 26.48 | 26.48 | -0.17 |
| Quaker Strategic Growth Fund C | 26.36 | 26.36 | -0.16 |
| Quaker Strategic Growth Fund I | 28.72 | 28.72 | -0.18 |
| Quaker Mid Cap Value Fund A | 15.88 | 16.80 | 0.04 |
| Quaker Mid Cap Value Fund B | 14.94 | 14.94 | 0.03 |
| Quaker Mid Cap Value Fund C | 14.69 | 14.69 | 0.04 |
| Quaker Mid Cap Value Fund I | 16.38 | 16.38 | 0.04 |
| Quaker Small Cap Value Fund A | 14.54 | 15.39 | 0.01 |
| Quaker Small Cap Value Fund B | 13.29 | 13.29 | 0.01 |
| Quaker Small Cap Value Fund C | 12.77 | 12.77 | 0.01 |
| Quaker Small Cap Value Fund I | 14.99 | 14.99 | 0.01 |
| Quaker Capital Opportunities Fund A | 9.70 | 10.26 | 0.04 |
| Quaker Capital Opportunities Fund B | 9.25 | 9.25 | 0.03 |
| Quaker Capital Opportunities Fund C | 9.25 | 9.25 | 0.04 |
| Quaker Biotech Pharma-Healthcare Fund A | 11.29 | 11.95 | 0.03 |
| Quaker Biotech Pharma-Healthcare Fund B | 10.73 | 10.73 | 0.02 |
| Quaker Biotech Pharma-Healthcare Fund C | 10.74 | 10.74 | 0.03 |
| Quaker Global Total Return Fund A | 10.18 | 10.77 | -0.05 |
| Quaker Global Total Return Fund C | 10.18 | 10.18 | -0.04 |
| Quaker Global Total Return Fund I |
*public offering price
**change from prior closing
Mutual fund investing involves risk including the possible loss of principal. Consider the investment objectives, risks, charges and expenses of the Quaker Funds carefully before investing. The prospectus contains this and other information about the Funds and is available by downloading the prospectus or calling 1-800-220-8888. Please read the prospectus carefully before investing.