Simple Alternatives S1 Fund Celebrates Three-Year Mark

AUM Rises 28% Year over Year

Draft - RIDGEFIELD, CT October 15, 2013 Simple Alternatives, LLC, a leading alternative mutual fund company focused on providing investors better access to hedge fund managers, announced today the S1 Fund marked its three-year anniversary on October 1, 2013. The S1 Fund (SONEX) is a multimanager, long/short equity mutual fund. Our goal with the S1 Fund was to deliver the benefits of true hedge fund investing, combined with better liquidity and overall transparency for investors, said Jim Dilworth, CEO and founder of Simple Alternatives. We have now achieved a solid three year track record and our message is resonating with advisors; that 40 Act mutual funds with daily pricing and liquidity are simply a better way to access the talent of top hedge fund managers. The growth of liquid alternatives is bringing investment strategies previously reserved for the wealthiest investors to a much broader audience, providing the advisor community with solutions that can be used to reduce correlation,; lower volatility and downside risk. The amount of assets invested in 40 Act liquid alternative funds is expected to double by 2018, to nearly $500 billion, according to a recent study by (1) Strategic Insight, a mutual fund industry research firm. Over the next 10 years, alternative mutual funds are expected to grow to comprise close to 14 percent of all mutual fund assets, according to Cerulli (2) Associates. Simple Alternatives is a boutique firm with a single product focus dedicated exclusively to hedge fund access, continued Dilworth. This allows us to concentrate on retaining the best team of long/short equity hedge fund managers for the S1 Fund. They each bring their own unique edge to the portfolio , and they all run a legitimate short book focused on alpha generation, rather than just as a hedge. For years, foundations, endowments and other large financial institutions have come to rely on long/short equity hedge funds to provide a smoother return profile. We are seeing a strong interest from the more sophisticated financial advisors, many of whom already use hedge funds for their HNW client portfolios, and increasingly prefer to get part of their long/short equity exposure via a mutual fund rather than limited partnership structure, concluded Dilworth. Through a disciplined investment process that focuses on strategy allocation, manager selection and risk management, the S1 Fund seeks to grow capital regardless of market direction. Financial Advisers use alternative strategies like the S1 Fund in a portfolio to add diversification and potential downside protection during market volatility. About Simple Alternatives, LLC Simple Alternatives is an investment manager focused on liquid alternative strategies. The company is 100% independent and employee owned. Simple Alternatives S1 Fund (SONEX) is a multi -manager alternative mutual fund that utilizes a portfolio of skilled (fundamentally-based) long/short equity managers each of whom brings a unique edge to the portfolio. The S1 Fund (the Fund) seeks to provide long-term capital appreciation with an emphasis on absolute (positive) returns and low correlation to traditional financial market indices such as the S&P 500 Index. Structured as a mutual fund, the S1 Fund offers direct access to long/short strategies to a wide range of investors, with the benefits of daily liquidity, high transparency and low investment minimums.

For more information on Simple Alternatives, LLC and the S1 Fund please visit www.simplealternatives.com

Press Contact: Bill Conboy 303-415-2290 Bill@bccapitalpartners.com Investor Contact: Josh Kernan 203-403-4177 Josh@simplealternatives.com

### (1) Source: Strategic Insight, Alternatives Industry Analysis, 2013, October 2013. (2) Source: Cerulli Associates, Alternative Products and Strategies 2013: Identifying Enduring Opportunities in Complex Markets, October 2013. Fund Risks The Fund is non-diversified and may focus its investments in the securities of a comparatively small number of issuers. Concentration in securities of a limited number of issuers exposes a fund to greater market risk and potential monetary losses than if its assets were diversified among the securities of a greater number of issuers. The Fund may invest in small- and medium-sized companies which involve greater risk than investing in larger, more established companies, such as increased volatility of earnings and prospects, higher failure rates, and limited markets, product lines or financial resources. The Fund may invest in foreign or emerging markets securities which involve special risks, including the volatility of currency exchange rates and, in some cases, limited geographic focus, political and economic instability, and relatively illiquid markets. The Fund may invest in debt securities which are subject to interest rate risk. An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. The Fund may also invest in high yield, lower rated (junk) bonds which involve a greater degree of risk and price fluctuation than investment grade bonds in return for higher yield potential. The Funds dist ressed debt strategy may involve a substantial degree of risk, including investments in sub-prime mortgage securities. The Fund may purchase securities of companies in initial public offerings. Special risks associated with these securities may include a limited number of shares available for trading, unseasoned trading, lack of investor knowledge of the company and limited operating history. The Fund may leverage transactions which include selling securities short as well as borrowing for other than temporary or emergency purposes. Leverage creates the risk of magnified capital losses. The Fund may also invest in derivatives which can be volatile and involve various types and degrees of risks, depending upon the characteristics of a particular derivative. The Fund may invest in options and futures which are subject to special risks and may not fully protect the Fund against declines in the value of its stocks. In addition, an option writing strategy limits the upside profit potential normally associated with stocks. Futures trading is very speculative, largely due to the traditional volatility of futures prices.

Investors should carefully consider the Funds investment objectives, risks, charges and expenses before investing. For a summary prospectus, or prospectus that contains this and other information, call 866-882-1226. Read the prospectus carefully before investing. The S1 Fund is distributed by Foreside Funds Distributors LLC Berwyn, PA who is not affiliated with Simple Alternatives, LLC