Date: 12-17-2008

Dear Valued Client,

On December 1, 2008, the Securities and Exchange Commission (SEC) approved a rule change that will eliminate the ability of Depository Trust Company (DTC) participants - including TD AMERITRADE - to request physical certificates for securities positions participating in the Direct Registration System (DRS). This change will take effect on January 1, 2009.

Currently your account is set up to automatically generate a physical certificate each time a trade is settled. This functionality will be disabled on December 31, 2008. All security purchases in your account that settle after the December 31, 2008, will be held in your TD AMERITRADE account, and a physical certificate will not be automatically generated. Details about the new regulations are listed below.

What you need to know:

• The DTC, the institution in which TD AMERITRADE holds shares in electronic form, proposed the rule change in an effort to reduce the industry's dependency on physical certificates and reduce the cost and risks associated with processing physical certificates.
• DRS is a way to electronically transfer shares into book entry form. Shares held in book entry form represent shares held on the books of the company rather than in physical certificate form or in street name with a brokerage firm. This change will only affect securities that are eligible to be transferred via DRS.
• Starting on January 1, 2009, TD AMERITRADE will be unable to obtain physical stock certificates for securities that are participating in DRS.
• There are a small number of companies that are DRS-eligible but do not allow their shares to be transferred via the DRS system. These companies are considered DRS-eligible but not participating. The initial change effective January 1, 2009, will exclude these securities. However, effective July 1, 2009, TD AMERITRADE will be unable to obtain physical stock certificates for securities that are DRS-eligible but not participating.

What you need to do:

• You can continue to hold your securities with TD AMERITRADE rather than obtaining a physical stock certificate. The benefits of doing so include:
  • you'll be able to sell the securities easily when needed
  • the position is automatically updated if the company undergoes a corporate action
  • you'll receive one monthly statement with all of your holdings, making them easier to track
  • TD AMERITRADE will safeguard your securities so you do not have to worry about your securities certificates being lost or stolen.
• You may be able to certificate your shares by transferring the security via DRS to the agent of the company and requesting the certificate through the transfer agent. For more information on the DRS process, please contact a Client Services representative at 800-669-3900.

If you have any additional questions, please call a Client Services representative. We're available 24 hours a day, seven days a week.

Sincerely,

John B. Bunch
President
TD AMERITRADE