HEALTH & BIOTECHNOLOGY FUND

• 6/30/2010 - MORNINGSTAR HAS RANKED THE SARATOGA HEALTH & BIOTECHNOLOGY FUND A FOUR STAR FUND!

TECHNOLOGY & COMMUNICATIONS FUND

• 6/30/2010 - MORNINGSTAR HAS RANKED THE SARATOGA TECHNOLOGY & COMMUNICATIONS FUND A FIVE STAR FUND!
  6/30/2010 - LIPPER HAS NAMED THE SARATOGA TECHNOLOGY & COMMUNICATIONS FUND (CLASS I SHARES) THE BEST FUND AMONG
  102 SCIENCE & TECHNOLOGY FUNDS FOR THE 5 - YEAR PERIOD ENDED 12/31/09.

SMALL CAPITALIZATION FUND

• 6/30/2010 - MORNINGSTAR HAS RANKED THE SARATOGA SMALL CAPITALIZATION FUND A FOUR STAR FUND!