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Performance Graph
SEC standardized performance is below graph

Growth of $10,000 Investment since Inception

	March Qtr. 1/1/08 to 3/31/08**	One Year 4/1/07 to 3/31/08	Five Year 4/1/03 to 3/31/08**	Ten Year 4/1/98 to 3/31/08**	Life-to-Date 8/5/94 to 3/31/08**
Aggressive Investors 1	-13.18%	4.06%	18.72%	15.90%	19.14%
S&P 500 Index*	-9.45%	-5.08%	11.32%	3.50%	10.01%
Russell 2000 Index*	-9.90%	-13.00%	14.90%	4.96%	9.32%

Performance data quoted represents past performance and is no guarantee of future results.Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Total return figures include the reinvestment of dividends and capital gains. Please read the prospectus carefully before investing or sending money. For additional information, call Bridgeway Funds at 1-800-661-3550. As stated in the current prospectus, the Fund's gross annual operating expense is 1.69%.

*The S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on the average of 500 widely held common stocks while the Russell 2000 Index is an unmanaged, market value weighted index, which measures performance of the 2,000 companies that are between the 1,000th and 3,000th largest in the market with dividends reinvested. One cannot invest directly in an index.
**Periods less than one year are not annualized. Periods longer than one year are annualized Returns listed in the table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

The Fund is subject to above average market risk (volatility) and is not an appropriate investment for short-term investors. Investments in smaller companies generally carry greater risk than is customarily associated with larger companies for various reasons such as narrower markets, limited financial resources and less liquid stock. In addition, the Fund may exhibit added volatility due to investment techniques such as use of futures, options and leverage.