The Pinnacle Value Fund
A Series of Bertolet Capital Trust
8000 Town Centre Drive, Suite 400
 Broadview Heights, OH 44147
Shareholder Services (877) 369-3705 x 115 Toll Free
(440) 922-0066

About the Pinnacle Value Fund
Opened April 1, 2003 , the Pinnacle Value Fund (the Fund) is a diversified, SEC registered, open end mutual fund investing primarily in US based companies. The Fund seeks long term capital appreciation with income as a secondary objective. The Fund emphasizes a value style of investing and will invest in a diversified portfolio of securities issued by small and micro-cap companies which the Adviser believes are trading at significant discounts to underlying earnings power or asset value. The Fund is for long term investors who, after reading the Prospectus, understand the risks and benefits of owning the Fund.

Fund Adviser is Bertolet Capital LLC, a Registered Investment Adviser.  
The Portfolio Manager, John E. Deysher  is responsible for supervising the Fund’s daily investment activities. Mr. Deysher has over forty years experience in the investment business. From 1990 until 2002, Mr. Deysher was a Portfolio Manager, Senior Analyst with Royce & Assoc., an investment firm specializing in  small cap value securities and adviser to several mutual funds including the Pennsylvania Mutual Fund. He is a CPA and CFA (Chartered Financial Analyst).

Minimum investment: 
Regular accounts: $2,500 initial, $100 subsequent    
IRA accounts:       $1,500 initial, $100 subsequent 

The Fund is 100% no load with no redemption fees except for a 1% fee on redemption of  shares within one year of purchase.