Market Overview

Ultimus' Capitol Series Trust Expands Board by Adding Three New Members


Raising the number of trustees to six

Capitol Series Trust (CST), sponsored by Ultimus
Fund Solutions®, LLC
(Ultimus®), is pleased to announce the
expansion of its board with the addition of three trustees. Janet Smith
Meeks, Lori Kaiser and John C. Davis were selected from a pool of over
fifteen highly qualified candidates. Increasing the number of trustees
was driven by an interest in expanding the board's diversity in
experience and perspective. Based on the qualifications of these three
individuals, shareholders elected them to the CST board effective on
July 1, 2018.

CST currently serves 6 mutual fund advisers, 10 funds and over $1
billion in assets under management. As the number of advisers and funds
continue to increase within the trust, the board realized it would be
important to expand the number of trustees and include a wide variety of
experience and backgrounds.

Janet Smith Meeks brings leadership skills and financial servicing
experience. She currently serves as the CEO of Healthcare Alignment
Advisers, LLC, which she founded in 2015. She previously served as
President and COO of Mount Carmel St. Ann's Hospital and worked at the
Bank of Mississippi (now Bancorp South, Inc.). Most recently Meeks
authored, "Gracious Leadership: Lead Like You've Never Led Before."
Meeks also currently serves on another board and is an instructor at the
collegiate and professional level. She is an instructor at and graduate
of the University of Mississippi, where she earned undergraduate degrees
in banking and finance and an MBA in finance.

Lori Kaiser lends her highly regarded accounting skills and audit
experience to CST. She is the CEO of Kaiser Consulting, which she
founded in 1992. Kaiser is a CPA and previously held positions as CFO
and Corporate Controller, after beginning her career in the audit
industry at KPMG, LLP. Kaiser also currently serves on other boards and
is an adjunct professor at The Ohio State University. She earned her
undergraduate degree from Miami University and MBA from the University
of Chicago.

A Retired Partner of PricewaterhouseCoopers LLP, John C. Davis has been
a consultant since 2011 and brings a fair amount of trustee knowledge
with him. Davis served as a Trustee of Ultimus Managers Trust for four
years and then served as a consultant to that board. During his tenure
as a trustee, he served as financial expert, lead independent director
and as chairman. He graduated from Indiana State University with a
degree in Accounting.

"We believe Janet, Lori and John will bring great experience, skills and
perspective to our board table," said Dina
, President and CEO of Capitol Series Trust. "I recently
moderated a conference panel on how to join a mutual fund board, and it
is clear that there is a lot of talent currently ready, willing and able
to be considered as mutual fund board members. We are fortunate and
excited to add three wonderful new trustees to complement our
foundational board members on the Capitol Series Trust board."

The three new trustees join Bob
, Wally Grimm and Mary Morrow, who continue to serve as
trustees and help bring the count to six total.

"As Chair of the Board of Capitol Series Trust, I am thrilled with the
evolution of our series trust, how we have continued to attract new
asset managers, in addition, being able to support the exponential
growth of funds such as Fuller & Thaler and Meritage, as well our other
high-quality asset management partners," said Wally Grimm, Independent
Chair of the Board of Trustees of Capitol Series Trust. "From a
governance perspective, the board felt it was time to bring in
additional trustees as the number of funds continues to expand. With
their sophisticated backgrounds in leadership, accounting and audit,
coupled with their obvious business savvy, the decision was
straight-forward and our shareholders agreed."

About Ultimus Fund Solutions, LLC

Ultimus Fund Solutions provides highly customized and comprehensive
middle and back office services to investment advisers. Ultimus'
high-quality services include solutions for mutual funds, separately
managed accounts, private investment funds and other pooled investment

Our offering comes with a deep commitment to excellence, achieved
through our investments in both talent and technology, with constant
focus on maintaining our boutique service culture. As a result, Ultimus
has stood out as an award-winning, trusted business partner to
investment advisers and fund families since 1999.

Ultimus' comprehensive service solutions are performed by seasoned teams
of accountants, attorneys, paralegals, application developers and other
professionals with a wealth of financial services experience. For more
information, visit

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