Buffalo Flexible Income Fund Wins Prestigious Lipper Award

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Fund recognized for superior 10-year returns

"Our long-term track record speaks for itself. We’re delighted to earn this recognition from Lipper.”

The Buffalo Flexible Income Fund is proud to be recognized by Thomson Reuters with a Lipper Fund Award for Superior 10-year Performance, ending 11/30/2011, among 181 Mixed-Asset Target Allocation Moderate Funds for Historical Risk-Adjusted Returns. Since 1994 the Flexible Income Fund has been focused on generating income and growth for our investors over the long term. This recognition by Lipper, a leader in mutual fund research, confirms our standing as a top-notch investment choice for long-term investors.

“We are conservative investors, looking for stable growth in a sometimes volatile market,” explains John Kornitzer, co-Portfolio Manager of the Fund since its inception. “We rely on deep research, generated by our own in-house analysts, and disciplined valuation, to build what we think is a solid portfolio. Our long-term track record speaks for itself. We’re delighted to earn this recognition from Lipper.”

The Buffalo Flexible Income Fund strives primarily to generate current income for its investors, with a secondary focus on growth of capital. In today’s low interest rate environment, finding alternative sources of income is difficult for investors. The Fund takes that burden off of investors, allocating among what the managers believe to be a sound mix of dividend paying stocks, high-yielding bonds and any other income-generating asset classes that fit the Fund’s objective.

For more information about the Buffalo Flexible Income Fund, visit http://www.buffalofunds.com, or call 1-800-49-BUFFALO.

The Funds’ investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other important information about the investment company, and may be obtained by calling 1-800- 49-BUFFALO or visiting http://www.buffalofunds.com. Read carefully before investing.

Mutual fund investing involves risk. Principal loss is possible.
Small- and Medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities

The Buffalo Funds are distributed by Quasar Distributors, LLC.

A Lipper Fund Award is awarded to one fund in each Lipper classification for achieving the strongest trend of consistent risk-adjusted performance against its classification peers over a three, five or ten-year period. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee, or representation made by Lipper. Any use of the data for analyzing, managing, or trading financial instruments is at the user’s own risk. This is not an offer to buy or sell securities. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service.

The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world's top funds, fund management firms, sell-side firms, research analysts, and investor relations teams. The Thomson Reuters Awards for Excellence also include the Extel Survey Awards, the StarMine Analyst Awards, and the StarMine Broker Rankings. For more information, please contact markets.awards(at)thomsonreuters(dot)com or visit excellence.thomsonreuters.com

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Laura Gibson
lgibson@buffalofunds.com
913-647-2309
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