The Permanent Portfolio Family of Funds

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Performance

Monthly Fund Performance		Average Total Returns (for the periods ended June 30, 2008)

PERMANENT PORTFOLIO (PRPFX)					click below for:
		Past 1 Year	Past 5 Years	Past 10 Years	Annual Returns Since Inception Performance Graph
	Return Before Taxes	13.99%	13.01%	9.59%
	Return After Taxes on Distributions	13.75%	12.70%	8.92%
	Return After Taxes on Distributions and Sale of Fund Shares	9.21%	11.26%	8.11%
	30-Day SEC Yield: 1.61%
	Expense Ratios¹: Gross .95%
	¹ For the year ended January 31, 2008, as stated in our most recent Prospectus.

TREASURY BILL PORTFOLIO (PRTBX)					click below for:
		Past 1 Year	Past 5 Years	Past 10 Years	Annual Returns Since Inception Performance Graph
	Return Before Taxes	2.65%	2.32%	2.57%
	Return After Taxes on Distributions	1.37%	1.91%	1.68%
	Return After Taxes on Distributions and Sale of Fund Shares	1.71%	1.80%	1.67%
	30-Day SEC Yield: 1.42%
	Expense Ratios²: Gross 1.38%, Net .88%
	² For the year ended January 31, 2008, as stated in our most recent Prospectus. The Net Expense Ratio reflects a voluntary waiver of investment advisory fees in effect for the year then ended. The Investment Adviser has assured the Board that it intends to continue to voluntarily waive portion of its fees at least through the end of calendar year 2008. .

VERSATILE BOND PORTFOLIO (PRVBX)					click below for:
		Past 1 Year	Past 5 Years	Past 10 Years	Annual Returns Since Inception Performance Graph
	Return Before Taxes	3.51%	2.27%	3.33%
	Return After Taxes on Distributions	2.49%	1.45%	2.16%
	Return After Taxes on Distributions and Sale of Fund Shares	2.27%	1.49%	2.14%
	30-Day SEC Yield: 2.89%
	Expense Ratios³: Gross 1.40%, Net 1.02%
	³ For the year ended January 31, 2008, as stated in our most recent Prospectus. The Net Expense Ratio reflects a voluntary waiver of investment advisory fees in effect for the year then ended. The Investment Adviser has assured the Board that it intends to continue to voluntarily waive portion of its fees at least through the end of calendar year 2008.

AGGRESSIVE GROWTH PORTFOLIO (PAGRX)					click below for:
		Past 1 Year	Past 5 Years	Past 10 Years	Annual Returns Since Inception Performance Graph
	Return Before Taxes	-13.14%	10.90%	7.23%
	Return After Taxes on Distributions	-14.44%	9.27%	6.23%
	Return After Taxes on Distributions and Sale of Fund Shares	-6.48%	9.44%	6.22%
	30-Day SEC Yield: .94%
	Expense Ratios⁴: Gross 1.39%
	⁴ For the year ended January 31, 2008, as stated in our most recent Prospectus.

Performance data quoted represents past performance and does not guarantee future results. 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. Investment performance, current to the most recent month-end, may be lower or higher than the performance quoted, and can be obtained by calling the Shareholder Services Office at (800) 531-5142 or clicking here.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of sate and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In particular, after-tax returns are not relevant to investors who hold their shares through tax-deferred arrangements, such as 401 (k) plans or individual retirement accounts.