Century Small Cap Select to close

Century Capital Management LLC, advisor to the Century Funds, announced today that the Century Small Cap Select Fund (CSMVX – investor shares, CSMCX – institutional shares) is closing to new investors effective at the close of business (4pm EST) on July 18th 2005. Existing shareholders will not be impacted and may continue to purchase shares as well as reinvest dividends and capital gains if so desired. In addition a limited number of new accounts may be accepted from investors who satisfy the eligibility requirements contained within the prospectus supplement.

Upon the recommendation of the Fund’s Advisor, the Trustees have determined that closing the Fund will limit the growth of assets in the portfolio and protect the best interests of our long-term shareholders. By implementing these restrictions on new assets, the Trustees hope to preserve the research-intensive investment process, which has guided the Fund since its inception some five years ago.

The closing of the Century Small Cap Select Fund does not impact the operation of Century Shares Trust (CENSX). The Firm’s flagship mutual fund, which employs the Advisor’s fundamental research approach in order to find quality mid- and large cap holdings, remains open to new investors.

Shareholders are encouraged to read the prospectus supplement dated June 28, 2005, for complete details regarding the closing of the Century Small Cap Select Fund.

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