Deen Capital Management, Inc. Our Goal: Outperform the S&P in both up markets and down.

Our Goal: Outperform the S&P 500 in both up markets and down.
Our Result: +30.6% for the 60 months ending February 3, 2012 (vs +3.0% for the S&P)

Performance: Deen Capital vs. the Market*

as of December 31, 2011

performance chart

Performance Details*

	Deen Capital, net after fees and expenses**	S&P 500^†	Difference = Deen Capital Advantage
Trailing 12 months, etc., updated daily: 12 months ended February 3, 2012 36 months ended February 3, 2012 60 months ended February 3, 2012	+2.0% +57.5% +30.6%	+4.9% +70.7% +3.0%	-2.9 -13.2 +27.6
By calendar year, YTD updated daily: Year-To-Date as of February 3, 2012 2011 2010 2009 2008 2007 2006 2005	+7.7% -5.8% +12.9% +25.8% -26.5% +27.6% +21.2% +5.5%	+7.1% +2.0% +14.9% +26.5% -37.0% +5.4% +15.6% +4.8%	+0.6 -7.8 -2.0 -0.7 +10.5 +22.2 +5.6 +0.7
Annualized gains as of Dec 31, 2011: 3-Year annualized 5-Year annualized 10-Year annualized Since inception (4/24/92)	+10.2% +4.6% +4.8% +8.6%	+14.0% -0.3% +2.8% +7.9%	-3.8 +4.9 +2.0 +0.7

* Past performance does not guarantee future results.

† S&P 500 stated performance includes dividends. It is the total return of the Vanguard 500 Index fund (VFINX).