Mavrix Fund Management Inc. announced on Tuesday that for the three months ended March 31, revenue totalled $3.21 million compared to $3.02 million for the three months ended March 31, 2006.

The year-over-year increase in revenue was the result of increased management fees resulting from increased AUM and the impact of fees earned from five new funds launched in the 12-month period ending March 31.

Total AUM at March 31 was $720 million, up 8% from $669.5 million at March 31, 2006. The increases are attributable to market appreciation and fund sales. Our AUM was comprised of $551.8 million of Mavrix Mutual Funds and $168.2 million of specialty funds. Administrative services to third parties were discontinued last year.

EBITDA for the three months ended March 31 was $152,000 compared to $644,000 for the same period in 2006.

Net loss for the three months ended March 31, 2007 was $514,000 or $0.06 a share, compared to a net income for the three months ended March 31, 2006 of $20,000 or $0.00 per share.