Enterprise Group of Funds Launches Innovative '3-D' Print Ad Campaign

First of Its Kind Mutual Fund Ad Introduces First of Its Kind Mutual Fund -

Enterprise Mergers and Acquisitions Fund



Apr 30, 2001, 01:00 ET from The Enterprise Group of Funds

    ATLANTA, April 30 /PRNewswire/ -- The Enterprise Group of Funds today
 launched a new advertising campaign featuring a unique and innovative
 four-color print ad incorporating 3-D graphics and dual rotating photographs.
 The trade only campaign appears initially in the April 30 issue of Investment
 News, a leading financial service weekly published by Crain Communications.
 Designed by Motion Works, LLC(TM) the removable plastic laminate ad is adhered
 on a full-page print ad. The first photograph that appears shows classic Roman
 columns with the announcement "Introducing the Enterprise Mergers and
 Acquisitions Fund". Moving the laminate slightly causes the first photograph
 to disappear with the second photograph evident of fund manager, Mario
 Gabelli, of Gabelli Asset Management. Both photographs use a "3-D" methodology
 to provide maximum visual impact.  A depiction of the ad can be viewed at
 http://www.enterprisefunds.com/lenticular.html.
     Victor Ugolyn, Chairman, President and CEO of Enterprise Capital
 Management, the registered investment advisor for The Enterprise Group of
 Funds, said, "Innovation, creativity, uniqueness and entrepreneurship are
 business traits that Enterprise espouses, and this new M & A fund -- the first
 of its kind in the mutual fund industry -- is a further example of what we
 advocate as a firm. The Enterprise Mergers and Acquisitions Fund strategy
 blends 'merger arbitrage' for announced deals with 'value investing' for
 companies believed to be takeover targets in the next 12 to 18 months. As with
 all Enterprise funds, Enterprise has selected an outstanding subadvisor with
 specific expertise in this investment category. We are especially pleased that
 this fund's portfolio manager is Mario Gabelli of Gabelli Asset Management."
     "Merger arbitrage" Mr. Ugolyn explained, "takes advantage of the price
 difference between a company's stock when a deal is first announced and the
 deal price upon closing, which is typically higher. Investing in companies
 ripe for takeover before any deal is announced offers potentially greater
 rewards, along with greater risk. Together, these two investment techniques
 provide investors a unique way to gain exposure to the M&A market and add
 diversity to their portfolios."
     Gabelli Asset Management subadvises the Mergers and Acquisitions Fund with
 Chairman, CEO and Chief Investment Officer Mario J. Gabelli serving as fund
 manager. Gabelli has achieved a reputation for picking undervalued companies
 ripe for takeover. Since 1996, 85 of the hundreds of companies owned by the
 Enterprise Small Company Value Fund,(1) another Enterprise fund managed by
 Gabelli Asset Management, were the subject of takeovers. Now he brings his
 expertise to the Enterprise Mergers and Acquisitions Fund by selecting his
 best list of 70-80 companies from across all market capitalizations for
 inclusion in this non-diversified, value-oriented portfolio.
     The fund is expected to benefit from a new accounting rule proposal
 recently affirmed by the Financial Accounting Standards Board (FASB) which
 would no longer require goodwill -- in financial matters, that's the
 difference between the purchase price paid for an acquisition and the fair
 market value of the acquired company's net assets - to be amortized over
 several years in financial statements. According to The Wall Street Journal,
 "many companies active on the acquisition front will see their earnings
 boosted when the incremental drag from goodwill amortization goes away."(2)
     In the annual roundtable conducted by Barron's in January, Gabelli said,
 "If the FASB eliminates the amortization of goodwill, it sets the stage for
 one of the greatest acquisition binges of all time. Small companies are
 materially undervalued. The banks haven't been lending. Leveraged-buyout firms
 are holding their money and large corporations around the world want to do
 synergistic deals. You'll see an incredible number of takeovers if the need to
 amortize goodwill goes away."(3)
     The Enterprise Group of Funds helped pioneer the concept of providing
 retail investors special access to leading institutional investment money
 managers for each investment style and sector. As with other Enterprise funds,
 the minimum initial investment for the Enterprise Mergers and Acquisitions
 Fund is $1,000 for the Class A, B and C shares.
     Enterprise Capital Management, Inc., the registered investment adviser for
 both The Enterprise Group of Funds and Enterprise Accumulation Trust,
 currently manages more than $7 billion in assets and is a member of The MONY
 Group Inc. (NYSE:   MNY), a holding company for its member companies, which
 provides financial protection and asset accumulation products and services.
 Enterprise Accumulation Trust offers separate investment portfolios that serve
 as the underlying funding vehicles for variable annuity contracts and variable
 life insurance policies; shares of these portfolios are not offered directly
 to the public.
 
     For more complete information about The Enterprise Group of Funds,
 including fees and expenses, please call for a prospectus or download a
 prospectus from the Enterprise Web site at http://www.enterprisefunds.com.
 Read it carefully before you invest or send money. Distributing broker/dealer:
 Enterprise Fund Distributors, Inc. (800) 432-4320.
 
     (1) Enterprise Capital Management, Inc. The past performance of the
         Enterprise Small Company Value Fund has no bearing on the future
         results of the Enterprise Mergers and Acquisitions Fund.
     (2) The Wall Street Journal, January 25, 2001
     (3) Barron's, January 15, 2001
 
     The Enterprise Mergers and Acquisitions Fund is a non-diversified fund
 that may invest more than 5 percent of its assets in a single holding. This
 type of fund is riskier than a diversified fund because a loss resulting from
 a particular security will have a greater impact on the fund's return. The
 fund is expected to have a higher-than-average turnover rate which could
 increase the fund's expenses, generate more taxable short-term gains and
 negatively affect performance. Finally, investments in small- and mid-
 capitalization stocks are generally riskier than large-capitalization stocks
 due to greater earnings and price fluctuations.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X92517774
 
 

SOURCE The Enterprise Group of Funds
    ATLANTA, April 30 /PRNewswire/ -- The Enterprise Group of Funds today
 launched a new advertising campaign featuring a unique and innovative
 four-color print ad incorporating 3-D graphics and dual rotating photographs.
 The trade only campaign appears initially in the April 30 issue of Investment
 News, a leading financial service weekly published by Crain Communications.
 Designed by Motion Works, LLC(TM) the removable plastic laminate ad is adhered
 on a full-page print ad. The first photograph that appears shows classic Roman
 columns with the announcement "Introducing the Enterprise Mergers and
 Acquisitions Fund". Moving the laminate slightly causes the first photograph
 to disappear with the second photograph evident of fund manager, Mario
 Gabelli, of Gabelli Asset Management. Both photographs use a "3-D" methodology
 to provide maximum visual impact.  A depiction of the ad can be viewed at
 http://www.enterprisefunds.com/lenticular.html.
     Victor Ugolyn, Chairman, President and CEO of Enterprise Capital
 Management, the registered investment advisor for The Enterprise Group of
 Funds, said, "Innovation, creativity, uniqueness and entrepreneurship are
 business traits that Enterprise espouses, and this new M & A fund -- the first
 of its kind in the mutual fund industry -- is a further example of what we
 advocate as a firm. The Enterprise Mergers and Acquisitions Fund strategy
 blends 'merger arbitrage' for announced deals with 'value investing' for
 companies believed to be takeover targets in the next 12 to 18 months. As with
 all Enterprise funds, Enterprise has selected an outstanding subadvisor with
 specific expertise in this investment category. We are especially pleased that
 this fund's portfolio manager is Mario Gabelli of Gabelli Asset Management."
     "Merger arbitrage" Mr. Ugolyn explained, "takes advantage of the price
 difference between a company's stock when a deal is first announced and the
 deal price upon closing, which is typically higher. Investing in companies
 ripe for takeover before any deal is announced offers potentially greater
 rewards, along with greater risk. Together, these two investment techniques
 provide investors a unique way to gain exposure to the M&A market and add
 diversity to their portfolios."
     Gabelli Asset Management subadvises the Mergers and Acquisitions Fund with
 Chairman, CEO and Chief Investment Officer Mario J. Gabelli serving as fund
 manager. Gabelli has achieved a reputation for picking undervalued companies
 ripe for takeover. Since 1996, 85 of the hundreds of companies owned by the
 Enterprise Small Company Value Fund,(1) another Enterprise fund managed by
 Gabelli Asset Management, were the subject of takeovers. Now he brings his
 expertise to the Enterprise Mergers and Acquisitions Fund by selecting his
 best list of 70-80 companies from across all market capitalizations for
 inclusion in this non-diversified, value-oriented portfolio.
     The fund is expected to benefit from a new accounting rule proposal
 recently affirmed by the Financial Accounting Standards Board (FASB) which
 would no longer require goodwill -- in financial matters, that's the
 difference between the purchase price paid for an acquisition and the fair
 market value of the acquired company's net assets - to be amortized over
 several years in financial statements. According to The Wall Street Journal,
 "many companies active on the acquisition front will see their earnings
 boosted when the incremental drag from goodwill amortization goes away."(2)
     In the annual roundtable conducted by Barron's in January, Gabelli said,
 "If the FASB eliminates the amortization of goodwill, it sets the stage for
 one of the greatest acquisition binges of all time. Small companies are
 materially undervalued. The banks haven't been lending. Leveraged-buyout firms
 are holding their money and large corporations around the world want to do
 synergistic deals. You'll see an incredible number of takeovers if the need to
 amortize goodwill goes away."(3)
     The Enterprise Group of Funds helped pioneer the concept of providing
 retail investors special access to leading institutional investment money
 managers for each investment style and sector. As with other Enterprise funds,
 the minimum initial investment for the Enterprise Mergers and Acquisitions
 Fund is $1,000 for the Class A, B and C shares.
     Enterprise Capital Management, Inc., the registered investment adviser for
 both The Enterprise Group of Funds and Enterprise Accumulation Trust,
 currently manages more than $7 billion in assets and is a member of The MONY
 Group Inc. (NYSE:   MNY), a holding company for its member companies, which
 provides financial protection and asset accumulation products and services.
 Enterprise Accumulation Trust offers separate investment portfolios that serve
 as the underlying funding vehicles for variable annuity contracts and variable
 life insurance policies; shares of these portfolios are not offered directly
 to the public.
 
     For more complete information about The Enterprise Group of Funds,
 including fees and expenses, please call for a prospectus or download a
 prospectus from the Enterprise Web site at http://www.enterprisefunds.com.
 Read it carefully before you invest or send money. Distributing broker/dealer:
 Enterprise Fund Distributors, Inc. (800) 432-4320.
 
     (1) Enterprise Capital Management, Inc. The past performance of the
         Enterprise Small Company Value Fund has no bearing on the future
         results of the Enterprise Mergers and Acquisitions Fund.
     (2) The Wall Street Journal, January 25, 2001
     (3) Barron's, January 15, 2001
 
     The Enterprise Mergers and Acquisitions Fund is a non-diversified fund
 that may invest more than 5 percent of its assets in a single holding. This
 type of fund is riskier than a diversified fund because a loss resulting from
 a particular security will have a greater impact on the fund's return. The
 fund is expected to have a higher-than-average turnover rate which could
 increase the fund's expenses, generate more taxable short-term gains and
 negatively affect performance. Finally, investments in small- and mid-
 capitalization stocks are generally riskier than large-capitalization stocks
 due to greater earnings and price fluctuations.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X92517774
 
 SOURCE  The Enterprise Group of Funds