Company Press Release

Alexandria, VA – December 14, 2009 – AFBA 5Star Investment Management Company, the advisor to the AFBA 5Star Funds, announced today that it has entered into a definitive agreement and strategic alliance with FBR Asset Management Holdings, Inc., a division of FBR Capital Markets Corporation (NASDAQ: FBCM). Under the agreement, the AFBA 5Star Funds will be renamed and merged with the FBR Funds family of mutual funds upon approval of an AFBA shareholder vote in February.

“This presents a unique opportunity to join forces with such a highly-regarded fund manager as FBR Asset Management” said Robert E. Morrison, Jr., President of the AFBA 5Star Funds and Chief Investment Officer of the advisor. “By combining our fund complex with The FBR Funds, we believe our shareholders will continue benefiting from the strong investment track record of the AFBA 5Star Funds, as well gain access to the attractive performance record of The FBR Funds and its team of highly professional and experienced portfolio managers. Our shareholders will also benefit from lower ongoing costs. Financial advisors will be better served with a larger sales force to service their needs,” explained Mr. Morrison.

About AFBA 5Star Fund, Inc.

AFBA 5Star Investment Management Company is a related enterprise of the Armed Forces Benefit Association (“AFBA”) which was established in 1947 as a non-profit voluntary benefit association. AFBA 5Star Fund, Inc. was founded in 1997. The AFBA 5Star Family of Funds offers investors, financial advisors and AFBA members a wide variety of asset classes with a disciplined investment approach. As the Advisor to the Fund, AFBA 5Star Investment Management Company is responsible for all investment related activities which include sub-advisor selection and ongoing monitoring and due diligence associated with those managers. For more information visit www.afbafunds.com or contact us directly at 1-800-243-9865.

About FBR Capital Markets Corporation

FBR Capital Markets Corporation (NASDAQ: FBCM) provides investment banking, merger and acquisition advisory, institutional brokerage, prime brokerage, and research services through its subsidiary FBR Capital Markets & Co. FBR Capital Markets focuses capital and financial expertise on seven industry sectors: consumer; diversified industrials; energy & natural resources; financial institutions; insurance; real estate; and technology, media & telecom. Asset management services are provided by FBR Fund Advisers, Inc. and FBR Investment Management, Inc. The FBR Funds are distributed by FBR Investment Services, Inc. member FINRA/SIPC. All companies are subsidiaries of FBR Capital Markets. FBR Capital Markets is headquartered in the Washington, D.C. metropolitan area with offices throughout the United States and in London. For more information, please visit www.fbrcapitalmarkets.com.

Investors are reminded to consider the investment objectives, risks, charges and expenses of the AFBA 5Star Funds and The FBR Funds carefully before investing. A prospectus with this and other information about the AFBA 5Star Funds may be obtained by calling 1-800-243-9865 or by visiting www.afbafunds.com. For a FBR Funds prospectus, please call 888.200.4710 or visit www.fbrfunds.com. The prospectus should be read carefully before investing.

PFPC Distributors, Inc. of King of Prussia, Pennsylvania is the AFBA 5Star Funds’ distributor.


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