KEELEY Small Cap Dividend Value Fund

Daily Performance - February 3, 2012

Ticker Symbol NAV POP Daily NAV $Change Daily NAV %Change NAV Calendar YTD Total Return POP Calendar YTD Total Return
KSDVX 13.75 14.40 +$0.24Fund Up +1.78% +11.47% +6.48%
KSDIX 13.77 n/a +$0.24Fund Up +1.77% +11.79% n/a
Monthly Performance - December 2011
Ticker Symbol Month 3 Month 1 YR 3 YR 5 YR 10 YR S.I. 12/01/09
KSDVX no Load*  2.08%  15.55% 3.45% n/a n/a n/a 16.85%
KSDVX with Load** -2.55%  10.31% -1.18% n/a n/a n/a 14.30%
KSDIX no Load  2.13%  15.60% 3.75% n/a n/a n/a 17.13%
Russell 2000 Value Index®*** 1.57%  15.97% -5.50% n/a n/a n/a 11.18%
Quarterly Performance - 4th Quarter 2011
Ticker Symbol Quarter 1 YR 3 YR 5 YR 10 YR S.I. 12/01/09
KSDVX no Load* 15.55% 3.45% n/a n/a n/a 16.85%
KSDVX with Load** 10.31% -1.18% n/a n/a n/a 14.30%
KSDIX no Load 15.60% 3.75% n/a n/a n/a 17.13%
Russell 2000 Value Index®*** 15.97% -5.50% n/a n/a n/a 11.18%

Performance data represents past performance which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares when redeemed, may be worth more or less than the original cost. Read the prospectus carefully before investing.

Performance data does not reflect the deduction of the sales load. If reflected, the sales load would reduce the performance quoted.

* Returns do not reflect deduction of the Fund's 4.50% front-end sales charge.

** Returns reflect the effect of the Fund's 4.50% front-end sales charge.

*** The Russell 2000 Value Index is an unmanaged index that measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth rates. These Index figures do not reflect any deduction for fees, expenses or taxes, and are not available for investment.