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The Forward Funds will distribute capital gains for the Forward
Emerald Banking and Finance Fund and the Forward Emerald Growth
Fund on December 19, 2005. Shareholders of record as of December
15, 2005 will be eligible to receive the distributions.
| RECORD DATE |
December 15, 2005 |
| EX-DATE |
December 16, 2005 |
| PAYABLE DATE |
December 19, 2005 |
Based on data as of November 18, 2005, we currently estimate*
short- and long-term capital gain distributions in the following
amounts:
Forward Emerald Banking and Fiance Fund [Class A and C
Shares]
 No
short-term is estimated
Long-term is estimated at $1.1285 per share
Forward Emerald Growth Fund [Class A and C
Shares]
No short-term is estimated
Long-term is estimated at $0.3795 per share
The distribution amounts will be subtracted from each specific
fund’s closing price per share on Friday, December 16,
2005, and will be paid on December 19, 2005. The Forward Emerald
Opportunities Fund is not anticipated to make any dividend
distributions.
If you have any questions, please contact us at (888) 312-4100.
*Estimates are subject to change
as we finalize our calculations for each fund and share class.
You should consider the investment objectives, risks, charges
and expenses of the Forward Funds carefully before investing.
A prospectus with this and other information about the Funds
may be obtained by calling (800) 999-6809 or by downloading one
at www.forwardfunds.com. It should be read carefully before investing.
Past performance cannot be used to predict future returns. The
investment return and principal value of an investment will fluctuate,
so an investor’s shares, when redeemed, may be worth more
or less than their original cost. To obtain the most current
performance information, which may be lower or higher than the
performance data quoted, go to www.forwardfunds.com.
Small company stocks are generally riskier than large company stocks due to greater volatility and less liquidity.
Foreign securities will involve additional risks including
social and
political instability, liquidity, greater volatility and less
regulation.
Forward Funds are distributed
by ALPS Distributors, Inc.
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