** Only available to shareholders with account registrations established prior to 5/01/06.

• Asset Type -- Stocks
• Rates High on the Risk Chart
• Fund Fact Sheet - Class A&B (PDF 55 KB) and R1,R2,R3 (PDF 53 KB)

Investor profile: You may want to invest in the Equity Fund if you can tolerate the price fluctuations and volatility that are inherent in investing in a broad based large cap stock mutual fund, want to diversify your investments, are seeking a growth investment as part of an asset allocation program, or are investing for retirement or other goals that are many years in the future. You can open an account in this fund with a minimum initial investment of $250 ($50 by automatic investment).

You may not want to invest in the Equity Fund if you are investing with a shorter investment time horizon in mind, are seeking income rather than capital appreciation, or are uncomfortable with an investment whose value is likely to vary substantially.

Investment objective: Seeks long-term growth of capital.

Investment strategy: The Equity Fund invests under normal circumstances at least 80% of its assets in common stocks and other equity securities of U.S. companies with market capitalizations of at least $1.5 billion. The Manager chooses stocks for the Fund's portfolio for their long-term potential to generate capital gains.

The Fund may invest up to 25% of its assets in equity securities and depository receipts of foreign companies.

Please read the Prospectus for more detailed information on expenses.

Risks

• Market risk
• Foreign investing risk
• Interest rate risk

An investment in the Equity Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or any other government agency. You can lose money by investing in the Fund.

It is important to note that there is market risk involved when investing in mutual funds, including possible loss of principal.

An automatic investment plan does not assure a profit and does not protect against loss in declining markets.  An automatic investment plan involves continuous investment in securities regardless of fluctuating prices.  You should consider your financial ability to continue purchases through periods of high or low price levels.

It is important to note that diversification does not assure a profit or protect against loss in a declining market.

State Farm VP Management Corp Risk/Important Disclosures. State Farm Mutual Funds Prospectus. The State Farm College Savings Plan Enrollment Handbook (PDF 553 KB) .

Need Assistance? 1-800-447-4930

AP2009/10/9809