org)."
For many years, shareholders in the Pax World Balanced Fund have had the
option of voluntarily contributing a percentage of fund income, including
capital gains, to Pax World Service, in order to support the work of Mercy
Corps.

disarming responders

During June, All Lowe's Stores to Serve as Official Cash Donation Sites for
Disaster Relief

MOORESVILLE, N.newscom. Socially Responsible Mutual Fund Promotes 'Mercy Kits'
as Alternative Holiday Gift

PORTSMOUTH, N. We have long been committed
to supporting the work of Mercy Corps, and given the enormity of suffering
around the world and the fact that a modest gift can do so much, we have
decided to augment our efforts this holiday season. For this and
other important information about the fund, please obtain a free fund
prospectus by calling 1-800-767-1729 or visiting http://www.

mitigate reliefweb

During 2004 alone, Lowe's
and its customers raised $1.5 billion and
has more than 1,100 stores in 48 states.mercycorps.
222 State Street
Portsmouth, NH 03801
Phone: 800-767-1729

Distributor:
H.

marga disarming

humanitarian ananda

In particular, Pax World Funds is encouraging fund shareholders and others
to consider making charitable donations in the form of "Mercy Kits" or other
humanitarian contributions during the 2005 holiday season. The Funds seek to make a contribution to world peace by
investing in companies that produce goods and services that improve the
quality of life and that are not engaged in the manufacture of defense or
weapons-related products or that derive revenue from the manufacture of
tobacco, liquor, or gambling products.paxworld.

Pax World Management Corp.

airlift chernobyl

org.

salam relief

Lowe's Charitable and Educational
Foundation awards more than $3 million annually to diverse organizations
across the United States. Pax World Management Corp."

ABOUT THE MERCY CORPS PROGRAMS
A Mercy Corps "Mercy Kit" gives an individual a way to make a donation on
behalf of a loved one or friend.

resettlement chernobyl

com/hurricane and http://www.
Each year , in communities large and small, victims of some 70,000 disasters
turn to neighbors familiar and new-the nearly 1 million volunteers and 35,000
employees of the Red Cross.
Mercy Corps is a leading humanitarian relief organization whose programs
currently reach seven million people in more than 35 countries as part of its
efforts to alleviate suffering, poverty and oppression by helping people build
secure, productive and just communities.

relieves resettlement

The Red
Cross helps thousands of U.

marga wahat

(Logo: http://www.com/community. As part of the International Red Cross and Red
Crescent Movement , a global network of 181 national societies, the Red Cross
helps restore hope and dignity to the world's most vulnerable people. In particular, Mercy Corps focuses
on helping communities recovering from war or social upheaval through
humanitarian relief work, sustainable development initiatives and promoting
the development of civil society institutions.

medair salam

"
Monies contributed during the annual donation program will support efforts
of local Red Cross chapters across the country."
Lowe's works with both the national headquarters and local chapters of the
American Red Cross each year on a variety of projects including hurricane
fairs, product donation and volunteer support .
Evans is the President and CEO of the American Red Cross.
"Mercy Kits" include such gift items as a $70 kit that buys a sheep for a
family, or a $50 Hurricane Katrina kit that provides help to a family
displaced by the hurricane, or a $35 kit that provides school lunches for 17
children in Eritrea. Mercy Corps seeks to make a real difference in the lives of
people in need and we welcome Pax World Funds' help in advancing our work.
Please read it carefully before investing.

playgrounds beslan

"Money raised through the
Lowe's customer donation program will help the American Red Cross provide for
people 's basic needs -- food, shelter, and counseling during times of crisis. For more information on ways
to prepare your home and family for a disaster, please visit
Lowes.H.mercycorps. In addition , there are literally
thousands of communities facing a range of other difficult situations that
also need help.com.

responders medair

Lowe's has raised more than $7. service members separated from their families by
military duty stay connected.
For more information about Mercy Corps and its programs, go to
http: //www.

resettlement exposures

, Pax World Funds -- home to the
United States' first socially and environmentally responsible mutual fund --
is urging its employees, shareholders and others to think about "alternative
gifts " this holiday season to support peace, reconciliation and humanitarian
relief.
"2005 was a very difficult year for many people around the globe, from
Pakistan to Sudan to New Orleans," said Pax World Funds CEO Joe Keefe.
Mercy Corps CEO Neal Keny-Guyer said: "We appreciate the support of Pax
World Funds and its shareholders for the work of Mercy Corps.
Before investing in a Pax World mutual fund, you should carefully consider
the fund's investment objectives, risks, charges , and expenses.

disasters detoxification

"As our
business focuses on the places we call home, we're glad to continue to support
the disaster relief efforts of the Red Cross, in assisting our neighbors
rebuilding their lives after a disaster. Marsha J. Keefe announced that Pax World Funds has now added a link on its web
site so that investors and other web site visitors can make holiday donations
through Mercy Corps, and that Pax World has sent an email message to its
shareholders encouraging them to donate. Each Mercy
Kit includes a delivered email or greeting card to the honoree of your choice.

Organizations dealing with natural disasters or wars and recovery from them after they end.

medair salam

, In support of the work
of the American Red Cross to help those preparing and recovering from natural
disasters, Lowe's is proud to announce its 2005 in-store customer donation
program to benefit American Red Cross disaster relief efforts.
"We're proud of our partnership with the American Red Cross and the
generous support of our customers each year during this donation drive," said
Larry Stone, Lowe's senior executive vice president of operations. There are a variety of Mercy Kits starting at $18 going
all the way up to $1,800 to provide humanitarian assistance worldwide.

airlift grenada

com/cgi-bin/prnh/20031205/LOWLOGO )
"Lowe's is a tremendously valued and committed partner of the American Red
Cross.
Member NASD/SIPC

November 2005

medair airlift

ABOUT LOWE'S: Lowe's is a proud supporter of the American Red Cross,
Habitat for Humanity International, United Way of America and the Home Safety
Council, in addition to numerous non-profit organizations and programs that
help communities across the country. Lowe's
is a FORTUNE(R) 50 company with fiscal year 2004 sales of $36. The Red Cross is not a government agency;
it relies on donations of time, money, and blood to do its work ., Inc.

disarming detoxification

For more information, visit
Lowes. Some 4 million
people give blood-the gift of life-through the Red Cross, making it the
largest supplier of blood and blood products in the United States. Since 1979, Mercy Corps has
provided more than $1 billion in assistance to people in 81 nations.

Wellington + Co.

relieves playgrounds

During the
month of June, more than 1,100 Lowe's stores nationwide will serve as official
cash donation sites to benefit local chapters across the country.S. "As a
socially responsible mutual fund company, we feel a special obligation at Pax
World this holiday season to give something back. You can also simply make a donation to Mercy
Corps by ordering a Mercy Kit without naming a particular honoree.

ABOUT PAX WORLD FUNDS
The Pax World Funds family -- including Pax World Balanced Fund, the Pax
World Growth Fund and Pax World High Yield Fund -- strives to enable persons
of conscience to invest in keeping with their ethical values and to challenge
corporations to establish and meet higher standards of corporate social
responsibility.

medair mitigate

Lowe's to Support American Red Cross Relief Efforts

This relationship is critical to our ability to respond to our
neighbors impacted by disasters, whether that's home fires, floods, tornadoes,
wildfires or hurricanes," said Skip Seitz, Senior Vice President, Growth and
Integrated Development for the American Red Cross.

Through almost 900 locally supported chapters,
more than 15 million people gain the skills they need to prepare for and
respond to emergencies in their homes, communities and world.,
investment adviser to Pax World Funds, will also be making a year-end
contribution and Pax World employees are raising money to provide "Mercy Kits"
and other donations through Mercy Corps as well.G.

humanitarian airlift

redcross. An
average of 91 cents of every dollar the Red Cross spends is invested in
humanitarian services and programs .

relieves responders

5 million to assist American Red Cross efforts,
including relief to the thousands impacted by the 2004 hurricanes that hit the
southeastern United States.

ABOUT AMERICAN RED CROSS:
The American Red Cross is where people mobilize to help their neighbors
-- across the street , across the country and across the world-in emergencies.org/ on the Web.

disaster resettlement

C.5 million for the
program over the past five years. Lowe's also encourages volunteerism through the
Lowe's Heroes program , a company-wide employee volunteer initiative. The mutual fund family is promoting this holiday giving program
through Mercy Corps and Pax World Service, an affiliate of Mercy Corps
(http://www. From tsunami-
stricken Asia to the hurricane-hit American Gulf Coast region and the
Pakistan/India earthquake, 2005 has been an extraordinarily difficult year for
those around the world who are in need. The more than one dozen program areas
focused on by Mercy Kits include microenterprise development , education,
nutrition, women's programs, and shelter.

tangible relief

Pax World Funds Promotes Holiday Gifts to Support Humanitarian Work of Mercy Corps

The email or card includes current information about Mercy Corps ' life-saving
work and your customized message.