AFBA 5Star Balanced Fund Receives 2008 Lipper Fund Award

ALEXANDRIA, Va., April 10 /PRNewswire/ -- AFBA 5Star Investment Management
is pleased to announce that a class of the AFBA 5Star Balanced Fund (AFBAX)
has earned a Lipper Fund Award for ranking #1 in Lipper's Mixed-Asset Target
Allocation Moderate Fund category for the five-year period ending December 31,
2007.
This select honor distinguishes the AFBA 5Star Balanced Fund's achievement
of delivering consistently strong risk-adjusted performance among its peer
group of 234 funds for the five-year period. Lipper Fund Awards are given
annually to the top-performing mutual funds in 21 countries in Asia, Europe,
and the United States and are among the best performance-rated funds of the
130,000 funds Lipper tracks globally.
"We are honored to have the AFBA 5Star Balanced Fund selected as a Lipper
top-ranked fund. Across our Fund Family, we are delighted to offer our
shareholders mutual fund solutions that seek highly-rated, consistent relative
performance. It affirms our disciplined investment approach and selective
investment process of bringing together highly-regarded sub-advisory talent,"
said Robert E. Morrison, Jr., President and Chief Investment Officer of the
AFBA 5Star Funds. "We believe that using world-class investment management
firms offers our shareholders the opportunity to take advantage of experienced
and proven investment strategies that are normally available only to
institutional investors. The value of this approach is the potential to
produce consistent above-average returns, which has become increasingly
important to our shareholders as they navigate these challenging market
conditions."
The AFBA 5Star Balanced Fund seeks to provide current income and long-term
growth of capital and income. The portfolio seeks a target allocation of 60%
stocks and 40% bonds and other fixed income securities in order to provide
broad market exposure and below-average market volatility. The Fund is
designed to invest in dividend-paying stocks and higher-quality fixed income
securities. The Fund's equity component is sub-advised by The London Company,
LLC and the fixed income portion is sub-advised by Financial Counselors, Inc.
About AFBA 5Star Fund, Inc.
AFBA Investment Management Company is a related enterprise of the Armed
Forces Benefit Association ("AFBA") which was established in 1947 as a non-
profit voluntary benefit association. AFBA 5Star Fund, Inc. was founded in
1997. The AFBA 5Star Family of Funds offers investors, financial advisors and
AFBA members a wide variety of asset classes with a disciplined investment
approach. As the Advisor to the Fund, AFBA 5Star Investment Management
Company is responsible for all investment related activities which include
sub-advisor selection and ongoing monitoring and due diligence associated with
those managers. PFPC Distributors, Inc. of King of Prussia, Pennsylvania is
the Fund's distributor. For more information visit www.afbafunds.com.
Investors are reminded to consider the investment objectives, risks,
charges and expenses of the AFBA 5Star Funds carefully before investing. A
prospectus with this and other information about the Funds may be obtained by
calling 1-800-243-9865 or by visiting www.afbafunds.com. The prospectus should
be read carefully before investing.
SOURCE AFBA 5Star Fund, Inc.

Caitlin McDermott, AFBA 5Star Fund, Inc., +1-443-279-2011