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Nicholas Kaiser

Nicholas Kaiser MBA, CFA
Nominee for Morningstar's Domestic-Stock Manager of the Year

News & Awards

Morningstar Nominates Nicholas Kaiser for Domestic-Stock Manager of the Year

Bellingham, WA (December 15, 2008)Morningstar Inc. has nominated Nicholas Kaiser, president and portfolio manager of Saturna Capital Corporation, as domestic-stock manager of the year. Citing his management of the Amana Trust Income (AMANX), Amana Trust Growth (AMAGX) and Sextant Growth (SSGFX) Funds, the nomination recognizes "not just superior single-year performance, but also great long-term performance," in addition to a proven long-term investment strategy and stewardship of their shareholders' interests. 

"We are honored that Morningstar has recognized our funds' strong performance and our commitment to following a consistent, value-oriented investment strategy over the long-term," said Mr. Kaiser. "This nomination recognizes not only our successful investment strategy, but also our commitment to helping our shareholders reach their goals, even in the most volatile of markets."

Morningstar focused on Kaiser's delivery of strong returns "through all of the market's wild swings," while noting his "superior execution" in following his long term strategy of finding growth at a reasonable price. The three domestic funds cited all hold the 5 star rating from Morningstar, its highest honor. As of 11/30/08, the Amana Growth Fund ranked in the top 2% of large growth funds YTD, ranking in the top 1% over 10 years. The Amana Income Fund ranked in the top 1% of large income funds YTD, ranking in the top 2% over 10 years. The Sextant Growth Fund ranked in the top 2% of the mid-cap growth category YTD, and ranking in the top 12% over 10 years.

The nomination comes in the wake of the Amana Income Fund winning a Lipper Award for Best Equity Income Fund for the second consecutive year. Additionally, Mr. Kaiser has received "Best Fund Manager — US Award" from Failaka Advisors, a leading Islamic funds rating agency, from 2005-2007, for his management of the Amana Funds, which are designed for US-based Islamic investors.

All three funds are managed with an eye towards value-oriented investing that is a main principle at Saturna Capital. Amana Mutual Funds Trust is designed to provide investment alternatives that are consistent with Islamic principles. The funds therefore avoid companies with large amounts of debt and companies based upon interest. The Amana Income Fund objectives are to provide current income while preserving capital, focusing on dividend-paying stocks. The Amana Growth Trust focuses on long-term capital appreciation, and may invest in smaller and less seasoned companies. The Sextant Growth Fund, which operates with no religious restrictions, also seeks long-term capital appreciation, with the ability to delve into smaller and new companies where management sees opportunities.

The 2008 Fund Manager of the Year winners will be announced on Morningstar and CNBC on Tuesday morning, Jan. 6, 2009.

About Saturna Capital

Saturna Capital Corporation, established in 1989 in Bellingham, WA, is the investment adviser and administrator to over $1 billion in assets in the Amana Mutual Funds Trust, which includes the Amana Growth and Amana Income funds, and the Saturna Investment Trust. Saturna Investment Trust consists of six funds: Sextant Growth (domestic equities), Sextant International (ADRs and foreign stocks), Sextant Core (bonds and equities), Sextant Bond Income (long-term bonds), Sextant Short-Term Bond and the Idaho Tax-Exempt Fund. Saturna Capital also manages private accounts for families, businesses and endowments. Saturna Brokerage Services provides general discount brokerage services and underwrites the Saturna mutual funds. For more information on the Lipper 2008 Awards, visit Lipper's website.

Performance Review

Average Annual Returns Before Taxes as of 11/30/2008: 1 Year 3 Years 5 Years 10 Years Expense Ratio*
Amana Income Fund -24.88% 1.72% 9.03% 4.57% 1.33%
Amana Growth Fund -32.68% -3.74% 6.23% 7.80% 1.31%
Sextant Growth Fund -32.57% -6.61% 1.81% 5.52% 1.32%

Average Annual Returns Before Taxes as of 9/30/2008: 1 Year 3 Years 5 Years 10 Years Expense Ratio*
Amana Income Fund -13.16% 5.52% 13.70% 6.80% 1.33%
Amana Growth Fund -15.33% 5.23% 13.10% 11.65% 1.31%
Sextant Growth Fund -14.53% 2.88% 8.57% 9.31% 1.32%

*By regulation, expense ratios shown are as of the Funds’ most recent prospectus dated August 21, 2008 for the two Amana Funds and March 28,2008 for Sextant Growth Fund.To view updated information, please see each Fund's individual pages by following the links above or our Average Annual Returns page.

Performance data quoted represents past performance which is no guarantee of future results. 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 the original cost. The Adviser has absorbed, currently or in the past, certain Fund expenses, without which total returns would have been lower. Returns quoted above do not reflect the potential deduction of a 2% redemption fee on shares held less than 90 calendar days. Current performance may be signaificantly higher or lower than data quoted herein. Performance current to the most recent month-end can be obtained by visiting Average Annual Returns. The Amana Funds limit the securities they purchase to those consistent with Islamic principles, which limits opportunities and may increase risk.

Morningstar Rankings™ as of 11/30/2008
Overall 1-Year 3-Year 5-Year 10-Year
Amana Income Fund 5 Stars N/A 5 Stars 5 Stars 5 Stars
% Rank in category N/A 2 1 1 2
Funds in Large Value category 1185 1418 1185 965 444
Amana Growth Fund 5 Stars N/A 5 Stars 5 Stars 5 Stars
% Rank in category N/A 2 1 1 1
Funds in Lage Growth category 1505 1792 1505 1232 595
Sextant Growth Fund 5 Stars N/A 5 Stars 5 Stars 4 Stars
% Rank in category N/A 2 8 6 12
Funds in Mid-Cap Growth category 833 950 950 683 339

Morningstar Rankings™ as of 9/30/2008
Overall 1-Year 3-Year 5-Year 10-Year
Amana Income Fund 5 Stars N/A 5 Stars 5 Stars 5 Stars
% Rank in category N/A 2 1 1 16
Funds in Large Value category 1180 1428 1180 960 435
Amana Growth Fund 5 Stars N/A 5 Stars 5 Stars 5 Stars
% Rank in category N/A 5 1 1 2
Funds in Lage Growth category 1489 1780 1489 1222 590
Sextant Growth Fund 5 Stars N/A 5 Stars 5 Stars 4 Stars
% Rank in category N/A 3 15 15 17
Funds in Mid-Cap Growth category 835 951 835 687 337

Morningstar is a leading provider of independent investment research on mutual funds and other securities. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. These ratings change monthly. The top 10% of funds in an investment category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the bottom 10% receive one star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Ratings. Morningstar does not guarantee the accuracy of this information.

% Rank in Category: This is the fund’s total-return percentile rank for the specified time period relative to all funds that have the same Morningstar category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. The top-performing fund in a category will always receive a rank of 1. Percentile ranks within categories are most useful in those categories that have a large number of funds.