Pax World Balanced Fund Selected As One of "Top Ten Mutual Funds for 2008″

MutualsAdvisor.com Names Fund to Select List Based on "Superior Management"

PORTSMOUTH, N.H. – December 27, 2007 – Pax World Management Corp., investment adviser to Pax World Funds ("Pax"), announced today that the Pax World Balanced Fund has been recognized by MutualsAdvisor.com as one of their "Top Ten Mutual Funds for 2008."

In making its recommendations, MutualsAdvisor.com reviewed the universe of actively managed mutual funds in search of funds with "outstanding performance, experienced management teams, a unique investment philosophy, a consistent strategy and time-tested stock selection and portfolio management skills." In selecting Pax World's flagship Balanced Fund, MutualsAdvisor.com emphasized that "The fund also out-performed the S&P 500 Index on an average annual return basis from 1997 to 2006, no mean feat for a fund that invests in bonds as well as stocks."

In naming the Pax World Balanced Fund to its select list, MutualsAdvisor.com noted that "[t]he country's oldest socially responsible fund isn't resting on its laurels," citing Pax World's recent efforts to modernize its environmental, social and governance criteria. The financial news publisher also noted that the Fund's low portfolio turnover rate "results in lower brokerage costs and higher tax efficiency" and that its expense ratio of 0.96% was also "lower than its balanced fund peers."

"It is an honor to be recognized by MutualsAdvisor.com," said Chris Brown, Pax World's Chief Investment Strategist and Portfolio Manager of the Balanced Fund. "We hope to continue our success into 2008 by following the same disciplined approach: combining rigorous financial analysis with equally rigorous environmental, social and governance (ESG) analysis to identify better long-term investments for our shareholders."

MutualsAdvisor.com was launched in August 2007 by Business Financial Publishing (BFP). BFP was founded and began publishing the Growth Report in 2001 and since then, BFP has grown into a diversified publisher of investment news, research, and analysis for individual investors through paid subscription newsletters, free e-letters, and regular special reports.

For more information, contact Brendon Buckley 617.933.5021 or Cosabeth Bullock 617.933.5277.

Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here. Performance data current to the most recent month- and quarter-end is available here. Total annual Balanced Fund operating expenses, gross of any fee waivers or reimbursements, are 0.97%. Total Balanced Fund operating expenses, net of fee waivers, reimbursements and acquired fund fees and expenses, are 0.96%.

For the period January 1, 1997 through December 31, 2006 the average annual return for the Pax World Balanced Fund was 9.52% compared to the average annual return for the S&P 500 of 8.42% for the same period.