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					Christopher C. Davis   Christopher C. Davis has over 19 years experience in investment management and securities research. Mr. Davis joined Davis Advisors in 1989 after working as a Securities Analyst, and now leads the portfolio management team for the Clipper Fund, along with Kenneth C. Feinberg. He received his M.A. from the University of St. Andrews in Scotland. Kenneth C. Feinberg   Kenneth C. Feinberg joined Davis Advisors in 1994. Mr. Feinberg received his M.B.A. from Columbia University and his B.A. from Johns Hopkins University.

					This material must be accompanied or preceded by a current Clipper Fund prospectus. Carefully consider the fund's investment strategies, risks, fees and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here or calling 800 432-2504. Davis Distributors, LLC, is the distributor of the Clipper Fund. © 1998-2005 Clipper Fund SM - All rights reserved