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One Group Small Cap Value Fund to Close May 14 COLUMBUS, Ohio, April 14 /PRNewswire-FirstCall/ -- One Group Mutual Funds is closing One Group Small Cap Value Fund to new investors on May 14, 2004. Assets in the fund were $1 billion at the close of business on March 31, 2004. (Logo: http://www.newscom.com/cgi-bin/prnh/20030116/NYTH053LOGO ) "In light of anticipated inflows to the fund, we believe closing the fund will be in the best interest of current shareholders and preserve the fund's investment strategy," said Lawrence Baumgartner, chief investment officer for equity securities and leader of the Small Cap Value Team at Banc One Investment Advisors Corporation. The fund grew from $642.4 million in assets on Dec. 31, 2002, to $993.6 million on Dec. 31, 2003. Shareholders of record on May 14, 2004, will be able to add to existing accounts through new purchases, exchanges from other One Group funds, the Systematic Investment Plan and the reinvestment of dividends or capital gains distributions. This includes IRA accounts. One Group Small Cap Value Fund was previously closed on May 31, 2002, and reopened on Nov. 1, 2002. One Group Mutual Funds is the proprietary fund family of Bank One Corporation. One Group has $103 billion in assets (as of Feb. 29, 2004) in 49 equity, bond and money market funds. One Group Mutual Funds are managed by Banc One Investment Advisors Corporation, a registered investment advisor and indirect wholly owned subsidiary of Bank One Corporation. Shareholders should read the supplement dated March 1, 2004, to the equity funds prospectuses dated Feb. 28, 2004, for full details concerning the Small Cap Value Fund's closing. Small-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure, and by definition are not as well established as "Blue Chip" companies. Products and services are provided by One Group Dealer Services, Inc. One Group Mutual Funds are distributed by One Group Dealer Services, Inc., which is an affiliate of Bank One Corporation (NYSE:ONE). Affiliates of Bank One Corporation receive fees for providing various services to the funds. Call One Group Dealer Services at 1-800-480-4111 or visit http://www.onegroup.com/ for the prospectus. Investors should consider the investment objectives, risks, charges and expenses and other information that may be found in the prospectus. Read it carefully before investing. - NOT FDIC INSURED - NO BANK GUARANTEE - MAY LOSE VALUE http://www.newscom.com/cgi-bin/prnh/20030116/NYTH053LOGO http://photoarchive.ap.org/ DATASOURCE: One Group Mutual Funds CONTACT: Julie Crothers of One Group Mutual Funds, +1-312-732-1564 Web site: http://www.onegroup.com/

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