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AB Funds Trust marks 1-year anniversary

DALLAS (BP)–Aug. 27, 2002, marked the one-year anniversary of the groundbreaking launch of AB Funds Trust, a no-load family of registered mutual funds sponsored by the Annuity Board of the Southern Baptist Convention.

Since last August, eligible Annuity Board participants and their spouses have been able to open Individual Retirement Accounts (IRAs) and personal investment accounts fulfilling the year-long theme of “New Investment Opportunities? ABsolutely!”

“ABsolutely! has been a successful theme for our marketing and customer relations department,” said O.S. Hawkins, Annuity Board president. “Entering the registered environment means we now say ‘ABsolutely!’ to our participants when they want to open an IRA or rollover a retirement account from a previous employer.

“We say ‘ABsolutely!’ to the pastor who receives an inheritance and needs a place he trusts to invest his money in a personal savings account,” Hawkins continued. “We say ‘ABsolutely!’ to the parents or grandparents who want to set up an educational fund for their children or grandchildren.”

Roddy Cummins, Annuity Board executive officer and vice president of AB Funds Trust, said, “Last year was a watershed event in the life of the Annuity Board and its participants. Entering a registered environment was a tremendous achievement and one that enhanced our products for the benefit of all our participants. It is a great feeling to get that first year behind us.”

During the past 12 months, 898 shareholders have taken advantage of these new opportunities and have opened IRA or personal investment accounts with AB Funds Trust.

Despite the enthusiasm of entering the registered environment, the past year included more challenges than anyone could have predicted, including:

— the Sept. 11 terrorist attacks and the continued threat of terrorism.

— the continuation of a three-year decline in the stock market including the worst first-half year in 2002 since the 1973-74 bear market.

— a sluggish economy amid accounting scandals.

“Who could have imagined that 15 days after the launch of AB Funds Trust our nation would experience the Sept. 11 attack?” Hawkins said. “The past year has been filled with challenges, but we believe this experience highlights the strength of our funds and our philosophy.”

Cummins added, “Our investment management process uses a ‘manager of managers’ approach that benefits our investors and provides significant diversification. Despite the unforeseen setbacks of this past year, our investment approach and disciplines have remained true to form.”

“Now more than ever,” Hawkins said, “we believe through AB Funds Trust we offer our participants a great value and can truly be a ‘LifePartner'(tm) in enhancing their financial security.”
For more information about AB Funds Trust, including charges and expenses, call 1-800-262-0511 for a prospectus. Read it carefully before investing. Shares of AB Funds Trust are distributed by PFPC Distributors, Inc. (BP) graphic posted in the BP Photo Library at http://www.bpnews.net. Graphic title: ABSOLUTELY.

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  • Jerilynn Armstrong