LOS ALTOS, CA - Marketocracy Funds¹ today announced that on December 4, 2003, annual gains were paid to shareholders of record as of December 3, 2003. The Marketocracy Masters 100™ Fund (Nasdaq: MOFQX) paid out short-term gains of $0.89787 per share, while the Marketocracy Technology Plus Fund (Nasdaq: TPFQX) paid out $0.13998 per share of short-term gains and $0.29961 per share of long-term gains (for a total of $0.43959).

On December 4, 2003, the distribution ex-date for both funds, the Masters 100 Fund's Net Asset Value (NAV) was reduced by $0.89787 per share and the Technology Plus Fund's NAV was reduced by $0.43959 per share.

Investors can find out about the Masters 100 Fund's future distributions and track the performance of the Fund by subscribing to the MOFQX Performance Tracker on http://funds.marketocracy.com/mof/?MKT=PR1

All Marketocracy Funds are available through most major brokerages, including Charles Schwab, Fidelity, TD Waterhouse, and E*TRADE.

For a prospectus & application containing more complete information about the Fund, including fees and expenses, please visit this link: http://funds.marketocracy.com/mof/prospectus.html or call 888-884-8482.
Please read it carefully before you invest.

Past performance is not a guarantee of future results. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.

The Masters 100 Fund can invest in small and medium sized companies, which are often more volatile and less liquid than larger, more established companies and therefore increase the volatility of the Fund's portfolio.   Additionally, the m100 group, upon which the Masters 100 Fund's portfolio manager relies in managing the Fund, is comprised of individuals who may be amateur investors, not investment professionals. Their track records are based on the performance of a simulated stock portfolio on the website www.marketocracy.com. Members of the m100 group are neither employees of the Fund or its adviser, Marketocracy Capital Management, LLC

About Marketocracy Capital Management, LLC
Marketocracy Capital Management is the investment adviser to the Masters 100™ Fund and the Technology Plus Fund.   Marketocracy Capital Management is a wholly owned subsidiary of Marketocracy Inc.

Distributor: Rafferty Capital Markets LLC
Date of First Use: Dember 10, 2003