Muhlenkamp and Company Privacy Statement

Muhlenkamp & Company, Inc. Privacy Policy We collect the following nonpublic personal information about you: Information we receive from you on or in applications or other forms, correspondence, or conversations, including, but not limited to, your name, address, phone number, social security number, assets, income and date of birth; and Information about your transactions with us, our affiliates, or others, including, but not limited to, your account number and balance, payment history, parties to transactions, cost basis information, and other financial information. We do not disclose any nonpublic personal information about our current or former clients to nonaffiliated third parties, except as permitted by law. For example, we are permitted by law to disclose all of the information we collect, as described above, to a financial intermediary, including, but not limited to, a broker-dealer, bank, or trust to process your transactions. Furthermore, we restrict access to your nonpublic personal information to those persons who require such information to provide our products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. Because you hold an account through a financial intermediary, including, but not limited to, a broker-dealer, bank, or trust company, the privacy policy of your financial intermediary will also govern how your nonpublic personal information would be shared with nonaffiliated third parties. Click here for a copy of the mutual fund's privacy policy. Muhlenkamp & Company, Inc. February 2005


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