The Fairholme Fund, The Fairholme Focused Income Fund, and The Fairholme Allocation Fund will file their Annual Reports with the United States Securities and Exchange Commission (“SEC”). The filings contain information on the respective portfolio holdings of The Fairholme Fund (NASDAQ: FAIRX), The Fairholme Focused Income Fund (NASDAQ: FOCIX), and The Fairholme Allocation Fund (NASDAQ: FAAFX) as of November 30, 2012. The Portfolio Manager’s Reports for each series of the Fairholme Funds and their respective 2012 Annual Reports will be available online to the public on the SEC’s EDGAR database and are currently available at www.fairholmefunds.com. Investing in the Funds involves risks including loss of principal. The Funds’ investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the Funds, and it may be obtained by calling Shareholder Services at 1-866-202-2263 or visiting our website www.fairholmefunds.com. Read it carefully before investing.