THE WALL STREET TRANSCRIPT: “A Deep Value Approach to Fixed Income Investing”, April 18, 2011

The Wall Street Transcript conducts an in depth interview with Thomas Siderewicz, portfolio manager for the CM Advisors Fixed Income Fund, regarding CM Fund Advisors’ focus and approach to value investing in fixed income securities.  Please read the article entitled "A Deep Value Approach to Fixed Income Investing."

Please see our March 31, 2011 Fixed Income Fund Fact Sheet.

The investment objective of the CM Advisors Fixed Income Fund is to preserve capital as well as maximize total return (income + appreciation) through fixed income securities.

Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Upon redemption, shares may be worth more or less than their original cost. Please examine the Standardized Performance for the CM Advisors Fixed Income Fund as of the most recent quarter end and for the total annual fund operating expense ratio.

Please examine the total net assets for CM Advisors Fixed Income Fund for the most recent quarter end.

The performance of any single portfolio holding is no indication of the performance of other portfolio holdings of the CM Advisors Fixed Income Fund or of the performance of the Fund itself. Please examine the top ten holding details of the CM Advisors Fixed Income Fund.

We are making this interview available to you for your information and education. Any references in this interview to specific holdings are not to be considered recommendations by the CM Advisors Fixed Income Fund (the "Fund") or CM Fund Advisors, Inc. (the "Adviser"), the Fund's adviser.  All portfolio holdings are subject to change at any time. Any discussion of specific securities is intended to help readers understand the Fund's investment management style, and should not be regarded as a recommendation of any security. Information concerning the performance of the Fund, and its holdings are attached.

Statements referring to future actions or events, such as the future financial performance or ongoing business strategies of the companies in which the Adviser invests on behalf of the Fund, are based on current expectations and projections about future events provided by various sources. These statements are not guarantees of future performance, and actual events may differ materially from those discussed herein. Any references to securities purchased or held are only as of the date of this article.

An investor should consider the investment objectives, risks, and charges and expenses of the CM Advisors Fixed Income Fund carefully before investing. The prospectus contains this and other information about the CM Advisors Fixed Income Fund. A copy of the prospectus is available by calling the CM Advisors Fixed Income Fund directly at 888-859-5856 or at www.cmAdvisorsfunds.com. The prospectus should be read carefully before investing.