Heartland Select Value (HRSVX)

At the annual 2010 Lipper Awards, the Heartland Select Value Fund was named the Best Multi-Cap Value Fund over the 3 and 5 year time periods. The awards were earned based on Lipper's category of highest consistent return for each time period ending December 31, 2009, among 267 and 211 funds, respectively.

The awards program honors funds that “have excelled in delivering consistently strong risk-adjusted performance relative to peers,” according to Lipper.

“This year marks the fourth consecutive year the Select Value Fund has been awarded Best Multi-Cap Value Fund,” said Dave Fondrie, co-portfolio manager of the Select Value Fund. “We believe the achievements demonstrate consistency in Heartland’s value investing process in various market environments.”

For more than 25 years, Heartland has utilized the disciplined and time-tested 10 Principles of Value Investing™ to identify stocks with strong financial profiles and low prices relative to their earnings, cash flows and book values. This value-based investment approach provides investors with the potential for capital appreciation and a potential margin of safety to limit downside risk. The Select Value Fund seeks to capture long-term capital appreciation through dynamic pursuit of value irrespective of market capitalization. The team managing the Fund that received these awards includes Ted Baszler, Hugh Denison, Dave Fondrie and Will Nasgovitz.

Annually, Lipper, an independent monitor of mutual funds, determines the fund classification winner over 3, 5 and 10 years based on the highest Lipper Leader for Consistent Return value within each eligible classification. Consistent Return reflects funds’ historic returns, adjusted for volatility, relative to peers and relies on monthly data.

Additional information:

Lipper Fund Awards are an annual tradition in the global fund industry recognizing the world's top-performing funds in 21 countries.
Awards are given in most individual classifications for the 3-, 5- and 10-year periods.
Lipper awards recognize consistent out-performance of individual funds and of fund companies.
Winning funds demonstrate consistently strong, risk-adjusted returns compared to peers.
Founded in 1973, Lipper's fund data and analysis reaches millions of investors everyday through newspapers, financial publications and the Internet.
Lipper is recognized as the preeminent source for unbiased comparisons of fund performance and management in the United States.

In addition to stocks of large companies, the Select Value Fund invests in small and mid-sized companies that are generally less liquid than large companies. Value investments are subject to the risk that their intrinsic values may not be recognized by the broad market. The Fund also invests in a smaller number of stocks (generally 40 to 60) than the average mutual fund. The performance of these holdings generally will increase the volatility of the Fund's returns.

Past performance does not guarantee future results.

Annually, Lipper, an independent monitor of mutual funds, determines the fund classification winner over 3, 5 and 10 years based on the highest Lipper Leader for Consistent Return value within each eligible classification. Consistent Return reflects funds' historic returns, adjusted for volatility, relative to peers and relies on monthly data.

Lipper does not guarantee the accuracy of this information. As of July 31, 2010, the Fund's Lipper numeric rankings were 2 of 93, 6 of 214, 18 of 279 and 75 of 340 for the 10, 5, 3 and 1-year periods, respectively. As of December 31, 2009, the Fund's Lipper numeric rankings were 2 of 103, 1 of 218, 3 of 281 and 61 of 347 for the 10, 5, 3 and 1 year periods, respectively. The Heartland Select Value Fund had a negative average annual return for the 3-year period as of December 31, 2009. As of December 31, 2008, the Fund was ranked 2 of 98, 10 of 238, 39 of 307 and 63 of 389 for the 10, 5, 3 and 1 year periods, respectively. The Heartland Select Value Fund had a negative average annual return for the 3 and 1 year periods as of December 31, 2008. As of December 31, 2007, the Fund was ranked 5 of 95, 25 of 267, 33 of 332 and 106 of 441 for the 10, 5, 3 and 1 year periods, respectively. The Heartland Select Value Fund had no negative average annual returns over the 10, 5, 3 and 1 year periods as of December 31, 2007. As of December 31, 2006, the Fund was ranked 2 of 99, 12 of 252, 25 of 340 and 278 of 443 for the 10, 5, 3 and 1 year periods, respectively. The Heartland Select Value Fund had no negative average annual returns over the 10, 5, 3 and 1 year periods as of December 31, 2006.

The above individuals are Registered Representatives of ALPS Distributors, Inc.

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