_________Goodwood Inc. ( www.goodwoodfunds.com) was founded in 1996 with a value investment methodology that would be repeatable over time. Goodwood uses a bottom-up, value-oriented, active and often event-driven approach to investing with the objective to achieve above average performance by investing in companies below an estimate of their true, underlying worth. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return of the Goodwood Capital Fund (the "Fund") are the historical annual compounded total return including changes in unit value and assume that all distributions made by the Fund were reinvested in additional units of the Fund. The rates of return do not include deduction of sales, transfer, redemption, income taxes payable, or other charges (which distributors may charge) that would have reduced returns. The rates of return are net of all management fees, expenses and performance incentive fees. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. *Designated Benchmark: 50% S&P/TSX Composite Total Return Index + 50% S&P 500 Index (C$) Standard performance data has been calculated for the Fund. As of November 30, 2012, the rates of return for the 10-, 5-, 3- and 1-year periods are +3.3%, -7.1%, -2.2% and +8.2%, respectively. In January 2006, unitholders approved a change in the Fund's fundamental investment objective from investing primarily in equity securities of Canadian companies to investing primarily in equity securities of North American companies. Therefore, the Fund's performance prior to January 2006 relates to periods of time when the Fund pursued a different fundamental investment objective. This change could have affected the performance of the Fund had it been in effect throughout the performance measurement periods set out above. SOURCE Goodwood Inc.