Exhibit 13
AFBA Investment Management Company
SUBSCRIPTION AGREEMENT
AFBA Five Star Fund, Inc.
0000 Xxxxxxxx Xxxx, Xxxxx X-00
Xxxxxx Xxxx, XX 00000
Gentlemen:
AFBA Investment Management Company hereby agrees to purchase 40,000
shares of common stock (the "Shares") of AFBA Five Star Fund, Inc. (the "Fund")
at $10 per share for an aggregate of $400,000. Such purchase is allocated among
the Fund's four series of shares as follows:
Cost
AFBA Five Star Balanced Fund
- 10,000 shares @ $10 per share $100,000
AFBA Five Star Equity Fund
- 10,000 shares @ $10 per share $100,000
AFBA Five Star USA Global Fund
- 10,000 shares @ $10 per share $100,000
AFBA Five Star High Yield Fund
- 10,000 shares @ $10 per share $100,000
The Fund, by its acknowledgement below, acknowledges receipt of funds in the
amount of $400,000 in full payment of the Shares.
I further advise that in making this purchase, which represents the
initial capital of the Fund, such purchase is for investment purposes only and
without any present intention of further distributing such shares or presenting
them for redemption or repurchase.
AFBA Investment Management Co.
By: /s/Xxxx X. Xxxxxxx
Xxxx X. Xxxxxxx
President
Attest: AFBA FIVE STAR FUND, INC.
/s/Xxxxxx X. Xxxxxx By: /s/X.X. Xxxxxxx
Xxxxxx X. Xxxxxx X.X. Xxxxxxx
Secretary Lt. General, USAF (Ret.)
Chairman of the Board
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