The recent growth in the equity market has helped to produce short-term returns for some asset classes that are not typical and may not continue in the future.  Because of ongoing market volatility, fund performance may be subject to substantial short-term changes.

Pursuant to an expense cap agreement between Frontegra Asset Management, Inc. ("Frontegra") and the Fund, Frontegra has agreed to waive its management fee and/or reimburse the Fund’s operating expenses to the extent necessary to ensure that the Fund’s total operating expenses do not exceed 0.75% of the Fund’s average daily net assets. The expense cap agreement will continue in effect until October 31, 2010 with successive renewal terms of one year unless terminated by Frontegra or the Fund prior to renewal. “Other Expenses” are presented before any waivers or expense reimbursements.

Past performance does not guarantee future results.  The principal value of an investment and investment return will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.  Current performance may be lower or higher than the performance quoted and may be obtained by calling 888-825-2100.  Investment performance reflects contractual fee waivers in effect.  In the absence of such waiver, total returns would be reduced.

The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing.  The prospectus contains this and other important information about the Frontegra Funds, and it may be obtained by downloading or calling 888-825-2100.  To download, select the Prospectus option located on the left sidebar.

Mutual fund investing involves risk; principal loss is possible.

Principal Risk Factors. The main risks of investing in the Fund are:

M a r k e t R i s k s . The Fund’s investments are subject to market risk, which may cause the value of the Fund’s investments to decline. If the value of the Fund’s investments goes down, you may lose money. The share price of the Fund is expected to fluctuate. Your shares at redemption may be worth more or less than your initial investment.

S t o c k S e l e c t i o n R i s k s . The stocks selected for the Fund may decline in value or not increase in value when the stock market in general is rising.

E q u i t y S e c u r i t i e s R i s k s . The Fund will normally invest at least 80% of its assets in common stocks and other equity securities. Common stocks and other equity securities generally fluctuate in value based on the earnings of the company and on general industry and market conditions. A fund that invests a significant amount of its assets in common stocks and other equity securities is likely to have greater fluctuation in share price than a fund that invests a significant portion of its assets in fixed income securities.

Fore i g n S e c u r i t i e s R i s k s . The Fund invests predominately in securities of companies in foreign countries. Foreign investments involve additional risks, including less liquidity, currency-rate fluctuations, political and economic instability, differences in financial reporting standards and less strict regulation of the securities markets compared to US markets.

L i q u i d i t y R i s k s . Liquidity risk is the risk that certain securities may be difficult or impossible to sell at the time and price that Mastholm would like to sell. Mastholm may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on Fund management or performance.   Recent market conditions have caused the markets for some of the securities in which the Fund invests to experience reduced liquidity.

M i d - C a p C o m p a n i e s R i s k s . The mid-cap companies in which the Fund may invest often have narrower markets and more limited managerial and financial resources than larger, more established companies, and, therefore, may be more vulnerable to adverse business or economic events than larger companies. As a result, the performance of mid-cap companies may be more volatile, which could increase the volatility of the Fund’s portfolio. Moreover, the securities of mid-cap companies tend to be less liquid than securities of larger companies.

C u r re n c y R i s k s . Investments in foreign securities denominated and traded in foreign currencies involve additional risks. The value of the Fund’s foreign securities as measured in U.S. dollars may be affected unfavorably by changes in foreign currency exchange rates. In addition, the Fund may incur costs in connection with conversions between various currencies.

Emerg i n g M a r k e ts R i s k s . The risks of foreign investments typically are greater in emerging markets. Less developed countries may have smaller securities markets and lower trading volumes, which may lead to greater price volatility. These countries may have less developed legal and accounting structures and are more likely to experience high levels of inflation, deflation or currency devaluations, which could adversely affect their economies and securities markets.

R e g i o n o r S e c t o r R i s k s . The Fund may invest a higher percentage of its total assets in a particular region or sector of international markets. In such a case, changes affecting that region or sector may have a significant impact on the Fund’s overall portfolio.

Management Risk. The Fund is subject to management risk as an actively-managed investment portfolio. Mastholm and each individual portfolio manager will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. If Mastholm is not able to select better-performing securities, the Fund may lose money.

High Portfolio Turnover Risk. 

The Fund may trade actively and experience a high portfolio turnover rate (over 100%).  High portfolio turnover is likely to lead to increased Fund expenses, such as brokerage commissions and other transaction costs.   Additionally, a high portfolio turnover rate may result in higher short-term capital gains taxable to shareholders and in lower investment returns.  It is expected that the Fund will experience high portfolio turnover during an initial period of transition when securities held in the portfolio are repositioned in connection with the change to Mastholm as subadviser.

Frontegra Funds, Inc. are distributed by Frontegra Strategies, LLC, an affiliate of Frontegra Funds, Inc., and managed by Frontegra Asset Management, Inc.

Frontegra Strategies, LLC   is located at 400 Skokie Boulevard, Suite 500, Northbrook, Illinois 60062, and can be contacted by calling (847) 509-9860.  Frontegra Strategies, LLC is a member of the Financial Industry Regulatory Authority, Inc. and SIPC. www.finra.org

You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at (202) 371-8300.

The Frontegra Funds are not offered for sale in countries other than the United States and its territories.