Data as of May 08, 2008
Daily Stats		SP 500 Index¹	NASDAQ Composite¹
Daily NAV	27.99	1397.68	2451.24
Change from Prior NAV	0.06	5.11	12.75
One day return (%)	0.22%	0.37%	0.52%
Total Return
Month to Date**	1.67%	0.87%	1.59%
Quarter to Date**	7.90%	5.67%	7.55%
Year to Date**	-9.68%	-4.81%	-7.58%
Data as of March 31, 2008
One Year*	-1.50%	-6.91%	-5.89%
Three Year*	14.10%	3.86%	4.46%
Five Year*	21.85%	9.29%	11.19%
Since inception *^	12.90%	-1.27%	-6.79%
Since inception **^	172.14%	-9.97%	-43.99%

2007	21.15%	3.53%	9.81%
2006	27.81%	13.62%	9.52%
2005	16.11%	3.00%	1.37%
2004	20.93%	8.99%	8.59%
2003	47.77%	26.38%	50.01%
2002	-4.62%	-22.1%	-31.3%
2001	2.12%	-13.04%	-21.06%
2000	3.90%	-10.14%	-39.29%

* Annualized ** Non-Annualized  ^ The Paradigm Fund inception date is 12/31/99. Performance data quoted represents past performance and does not guarantee future results. Figures include changes in principal value, reinvested dividends and capital gains distributions. Investment return and principal value will vary, and shares may be worth more or less at redemption than original purchase. ¹ One year, 3 year, 5 year, since inception, and historical total returns (where applicable) are without dividends reinvested. The Fund's Total Expense Ratio is 1.68%. Due to market volatility, current performance may be more or less than those shown for standard quarter-end periods. Kinetics Mutual Funds, unlike other investment companies that directly acquire and manage their own portfolios of securities, pursue their investment objectives by investing all of their investable assets in a corresponding portfolio of Kinetics Portfolios Trust. The NASDAQ Composite (NASDAQ) and the Standard & Poor's 500 Index (S&P 500) each represent an unmanaged, broad-based basket of stocks. They are typically used as a proxy for overall market performance.

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