Bridgeway's Privacy Policy

Bridgeway Funds, Inc.

Privacy Policy

February 8, 2006

As the investment adviser and administrator for Bridgeway Funds, Inc. (the "Funds"), Bridgeway Capital Management, Inc. (the "Adviser") invests the assets of the Funds and manages their day-to-day business. On behalf of the Funds and the Adviser (collectively, "Bridgeway"), we make the following assurance of your privacy.

Bridgeway's Commitment to You
We work hard to respect the privacy of your personal and financial data.

Not Using Your Personal Data for our Financial Gain
Bridgeway has never sold shareholder information to any other party, nor have we disclosed such data to any other organization, except as permitted by law. We have no plans to do so in the future. We will notify you prior to making any change in this policy. As a Fund shareholder, you compensate the Adviser through a management and administrative fee; this is how we earn our money for managing yours. We go to some extraordinary lengths to minimize conflicts of interest between the Adviser and the Funds. Our policy of not selling your data is an extension of this practice.

How We Do Use Your Personal and Financial Data
We use your information primarily to complete your investment transactions. We may also use it to communicate with you about other financial products that we offer.

The Information We Collect About You
You typically provide personal information when you complete a Bridgeway account application or when you request a transaction that involves Bridgeway, either directly or through a fund supermarket. This information may include your:

• Name, address and phone numbers
• Social security or taxpayer identification number
• Birth date and beneficiary information (for IRA applications)
• Basic trust document information (for trusts only)
• Account balance
• Investment activity

How We Protect Your Personal Information
As emphasized above, we do not sell information about current or former shareholders or their accounts to third parties. We occasionally share such information to the extent permitted by law to complete transactions at your request, or to make you aware of related financial products that we offer. Here are the details:

• To complete certain transactions or account changes that you direct, it may be necessary to provide identifying information to companies, individuals, or groups that are not affiliated with Bridgeway. For example, if you ask to transfer assets from another financial institution to Bridgeway, we will need to provide certain information about you to that company to complete the transaction.
• In certain instances, we may contract with non-affiliated companies to perform services for us, such as processing orders for share purchases and redemptions and distribution of shareholder letters. Where necessary, we will disclose information about you to these third parties. In all such cases, we provide the third party with only the information necessary to carry out its assigned responsibilities (in the case of shareholder letters, only your name and address) and only for that purpose. We require these third parties to treat your private information with the same high degree of confidentiality that we do.
  
• Finally, we will release information about you if you direct us to do so, if we are compelled by law to do so, or in other legally limited circumstances (for example, to protect your account from fraud).

How We Safeguard Your Personal Information
We restrict access to your information to those Bridgeway employees who need to know the information to provide products or services to you. We maintain physical, electronic, and procedural safeguards to protect your personal information.

Fund Marketplaces or Other Brokerage Firms
Most Bridgeway shareholders purchase their shares through fund marketplaces. Please contact those firms for their own policies with respect to privacy issues.

What You Can Do
For your protection, we recommend that you do not provide your account information, user name, or password to anyone except a Bridgeway employee as appropriate for a transaction or to set up an account. If you become aware of any suspicious activity relating to your account, please contact us immediately.

We'll Keep You Informed
As required by federal law, we will notify shareholders of our privacy policy annually. We reserve the right to modify this policy at any time, but rest assured that if we do change it, we will tell you promptly. You can access our privacy policy from our website.