EX-99.23.l
SUBSCRIPTION AGREEMENT BETWEEN THE TRUST AND THE INVESTORS
CATALYST VALUE FUND
A SERIES OF THE
CATALYST FUNDS
LETTER OF INVESTMENT INTENT
June 5, 2006
To the Board of Trustees of Catalyst Funds
The undersigned (the "Purchaser") hereby subscribes to purchase a
beneficial interest ("Interest") of the Catalyst Value Fund, a series of the
Catalyst Funds, in the amount of $100,000 for 10,000 shares at net asset value
of $10.00per share, in consideration for which the Purchaser agrees to transfer
to you upon demand cash in the amount of $100,000.
The Purchaser agrees that the Interest is being purchased for investment
purposes only and with no present intention of reselling or redeeming said
Interest.
/s/
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