Investment Strategy: To pursue its objective, the Fund invests in a diversified portfolio consisting primarily of common stocks. The Fund normally invests at least 80% of its net assets in common stocks. Any change in this 80% policy approved by the Board may not take effect until shareholders have received written notice of the change at least sixty (60) days before it occurs. Current yield is also a consideration for the Fund.

Typical Investor: The Fund may be suitable for moderately aggressive investors hoping to achieve long-term growth with current income.

Fund Manager: - James A. Reed, JD, CFA, lead portfolio manager James L. Moffett, CFA, and Larry L. Valencia, CFA – co-portfolio managers

Ticker: UMBSX, Cusip: 904199502

* Under its Investment Advisory Agreement with UMB Scout Funds, on behalf of the UMB Scout Stock Fund and the UMB Scout Growth Fund, Scout Investment Advisors, Inc. will receive investment advisory fees from the Funds based upon an annual rate of 0.60% on the first $1 billion of average daily net assets and 0.575% on average daily net assets over $1 billion.

†As of June 30, 2007

** Scout Investment Advisors, Inc. has entered into an agreement to waive fees and/or make expense payments through October 31, 2008, so that actual total annual fund operating expenses of the UMB Scout Stock Fund do not exceed 0.90%. The net expense ration for the Fund reflects the reimbursement of fees previously waived by the Advisor in accourdance with the terms of this agreement.

You should consider the Funds' investment objectives, risks, charges and expenses carefully before investing. For a prospectus which contains this and other information about the Funds, call 800-996-2862 or click on prospectus. Please read the prospectus carefully before investing.

The UMB Scout Funds are distributed by UMB Distribution Services, LLC, Milwaukee, Wis., an affiliate of UMB Financial Corporation. The Scout Funds are managed by Scout Investment Advisors, Inc., a subsidiary of UMB Bank, n.a.