The Accessor ®Funds are mutual funds managed and administered by Accessor Capital Management LP. Mutual funds, including shares of the Accessor Funds, are not bank deposits, are not insured by the FDIC, the Federal Reserve Board or any other government agency and are not obligations of, endorsed or guaranteed by any bank, financial institution, or any affiliate thereof. Through separate prospectuses the Fund offers two classes of shares, the Advisor Class Shares and the Investor Class Shares. Each class has different expenses that would affect performance. The Advisor Class Shares began operations in 1992 (Growth, Value, Small to Mid Cap, Intermediate Fixed-Income, Short-Intermediate Fixed-Income, Mortgage Securities, U.S. Government Money Funds), 1994 (International Equity Fund) and 2000 (High Yield Bond Fund) and the Investor Class Shares began operations in 1998 (Growth, Value, Small to Mid Cap, International Equity, Intermediate Fixed-Income, Short-Intermediate Fixed-Income, Mortgage Securities, U.S. Government Money Funds) and 2000 (High Yield Bond Fund).

This fund information may not be distributed to the public unless it is preceded or accompanied by prospectuses of Accessor Funds, Inc., which describe in detail the Fund's investment policies, management fees, and other matters of interest to the prospective investor. All Accessor Funds are offered only by a current prospectus, and the materials about the funds available on this web site are intended for use in offering their shares only in conjunction with a current prospectus; our funds are not registered for offering in any country other than the United States. We mail prospectuses and other information only to U.S. addresses, and we can accept only new account requests from U.S. addresses. You may access the prospectus for any of the funds at any time while in this web site by selecting the Prospectus and Application link. The prospectus(es) contain(s) more complete information on the Funds, including information on investment objective, style and risks, and all fees and expenses. You may obtain a free paper copy of the prospectus(es) by calling toll free at (800) 759-3504, by sending a request by e-mail acm@accessor.com or writing to us at:

Accessor Funds, Inc.
P.O. Box 1748
Seattle, WA
98111-1748

Please read the Prospectus carefully before you invest or send money.

1. The performance data quoted is total return and represents past performance. Past performance should not be considered indicative of future performance. The 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. Investor Class Shares have different expenses from Advisor Class Share which will generally cause performance to be lower.

2. Effective March 16, 2000, Chicago Equity Partners manages the Growth Fund (formerly managed by Geewax Terker and Company from July 21, 1997 to March 15, 2000 and State Street Bank and Trust Company from inception to July 20, 1997.

5. Effective June 1, 2001, SSgA Funds Management, Inc. manages the Small to Mid Cap Fund (formerly managed by Symphony Asset Management, Inc. from September 15, 1995 until May 31, 2001. Prior to Symphony, the Small Cap Portfolio was managed by Wells Fargo Nikko Investment Advisors from inception). Prior to October 1995 the Small to Mid Cap Fund's benchmark was the BARRA Institutional Small Index. In August 1995 shareholders approved a change to the Fund's investment objective to change the Small to Mid Cap Fund from a small cap fund to a small to medium cap fund. Starting in October 1995 the Wilshire 4500 index became the Small to Mid Cap Fund's benchmark. When investing in small cap stocks you may notice greater fluctuations in issuer and credit quality.

6. Prior to May 1996 the International Equity Fund's benchmark was the MSCI EAFE index. Prior to May 1996 the International Equity Fund did not invest in emerging market securities. Beginning in May 1996 the International Equity Fund was permitted to do so. Accordingly the International Equity Fund's benchmark was changed to the MSCIŅ EAFE + EMF Index starting May 1996.The International Equity Fund primarily invests its assets in foreign securities, which can entail special risks. These risks include political or economic instability in the country of the issuer, the difficulty of predicting international trade patterns, the possibility of imposition of exchange controls and the risk of currency fluctuations.

7. Effective September 21, 1998, Cypress Asset Management manages the Intermediate Fixed-Income Fund (formerly managed by Smith Barney Capital Management from inception to April 30, 1998 and Accessor Capital Management from May 1, 1998 through September 20, 1998).

8. Effective September 21, 1998, Cypress Asset Management manages the Short-Intermediate Fixed-Income Fund (formerly managed by Bankers Trust Company from inception to April 30, 1998 and Accessor Capital Management from May 1, 1998 through September 20, 1998).

9. Effective September 7, 1994, Accessor Capital Management L.P. manages the U.S. Government Money Fund (formerly managed by State Street Bank and Trust Company from inception).

10. When investing in high yield bonds you may notice greater fluctuations in issuer and credit quality.

11. Numbers provided by/calculated by Accessor Capital Management. Some reports in this analysis are against a peer group or universe of funds. The peer group for the Growth Fund is defined as any fund classified as "Large Growth" by Morningstar Inc, the peer group for the Value Fund is defined as any fund classified as "Large Value" by Morningstar Inc, the peer group for the Small to Mid Cap Fund is defined as any fund classified as "Small Cap" or "Mid Cap" by Morningstar, Inc., and the peer group for the International Equity Fund is defined as any fund classified as "Foreign Stock" by Morningstar, Inc. as of the date on the tables. No additional screens were placed on the peer group. The number of funds within the universe for each time period analyzed is listed on the accompanying tables.

The contents of the Accessor Sites on the Internet are protected by applicable copyright laws. No permission is granted to copy, distribute, modify, post or frame any text, graphics, video, audio, software code, or user interface design or logos. All information and content on the Accessor web sites are subject to applicable statutes and regulations, furnished "as is," without warranty of any kind, express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, or non-infringement.

Accessor Funds Privacy Policy

This policy applies to Accessor Funds, Inc., a multi-managed open-end investment company registered under the Investment Company Act of 1940, including each of its separately managed portfolios. These portfolios, commonly referred to collectively as the Accessor family of mutual funds or the Accessor Funds, are:

• Equity Funds: Growth, Value, Small to Mid Cap and International Equity
  
  
• Fixed-Income Funds: Intermediate Fixed-Income, Short-Intermediate Fixed Income, High Yield Bond, Mortgage Securities and U.S. Government Money
  
  
• Accessor Allocation Funds: Accessor Income Allocation, Accessor Income & Growth Allocation, Accessor Balanced Allocation, Accessor Growth & Income Allocation, Accessor Growth Allocation, Accessor Aggressive Growth Allocation
  
  

• Information we receive from you on applications or other forms;
  
  
• Information about your transactions with us, our affiliates, or others;
  
  
• Information we receive from your personal investment adviser or broker;
  
  
• Information we receive from your retirement plan sponsor, provider or record keeper.
  
  

The Accessor Funds restrict access to your personal and account information to those employees who need to know that information to provide products or services to you. The Accessor Funds maintain physical, electronic, and procedural safeguards to guard your nonpublic personal information.

Accessor® and Alloset® are registered trademarks of Accessor Capital Management LP. All other registered trademarks are the property of their respective organizations.