-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 JfrMB1OVOq9jC5mqHsirhM9bUr1nDjUSH3VbNqjouzndBhGaTkn//QEZY9g48txs
 YHotRiY9cOHQ0Mrw5pPYZA==

<SEC-DOCUMENT>0001104659-08-042788.txt : 20080627
<SEC-HEADER>0001104659-08-042788.hdr.sgml : 20080627
<ACCEPTANCE-DATETIME>20080627163511
ACCESSION NUMBER:		0001104659-08-042788
CONFORMED SUBMISSION TYPE:	POS 8C
PUBLIC DOCUMENT COUNT:		35
FILED AS OF DATE:		20080627
DATE AS OF CHANGE:		20080627

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ING PRIME RATE TRUST
		CENTRAL INDEX KEY:			0000826020
		IRS NUMBER:				956874587
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		POS 8C
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-61831
		FILM NUMBER:		08923019

	BUSINESS ADDRESS:	
		STREET 1:		ING PRIME RATE TRUST
		STREET 2:		7337 E. DOUBLETREE RANCH ROAD
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85258
		BUSINESS PHONE:		4804773000

	MAIL ADDRESS:	
		STREET 1:		ING PRIME RATE TRUST
		STREET 2:		7337 E. DOUBLETREE RANCH ROAD
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85258

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM AMERICA PRIME RATE TRUST
		DATE OF NAME CHANGE:	19960518

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM PRIME RATE TRUST/
		DATE OF NAME CHANGE:	19960518

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM PRIME RATE TRUST
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ING PRIME RATE TRUST
		CENTRAL INDEX KEY:			0000826020
		IRS NUMBER:				956874587
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		POS 8C
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05410
		FILM NUMBER:		08923020

	BUSINESS ADDRESS:	
		STREET 1:		ING PRIME RATE TRUST
		STREET 2:		7337 E. DOUBLETREE RANCH ROAD
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85258
		BUSINESS PHONE:		4804773000

	MAIL ADDRESS:	
		STREET 1:		ING PRIME RATE TRUST
		STREET 2:		7337 E. DOUBLETREE RANCH ROAD
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85258

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM AMERICA PRIME RATE TRUST
		DATE OF NAME CHANGE:	19960518

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM PRIME RATE TRUST/
		DATE OF NAME CHANGE:	19960518

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM PRIME RATE TRUST
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>POS 8C
<SEQUENCE>1
<FILENAME>a08-11032_2pos8c.htm
<DESCRIPTION>POS 8C
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">As filed with the Securities and Exchange
Commission on June&nbsp;27, 2008</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Securities Act File No.&nbsp;333-61831</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Investment Company Act File No.&nbsp;811-05410</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="border:none;border-top:double windowtext 6.0pt;padding:0in 0in 0in 0in;">

<p align="right" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">U.S. SECURITIES AND EXCHANGE
COMMISSION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;N-2</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Check Appropriate box or boxes)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Registration
  Statement Under The Securities Act Of 1933</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Wingdings" style="font-size:12.0pt;font-weight:bold;">x</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Pre-Effective
  Amendment No.</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Wingdings" style="font-size:10.0pt;font-weight:bold;">o</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Post-Effective
  Amendment No.&nbsp;20</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Wingdings" style="font-size:10.0pt;font-weight:bold;">x</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">and/or</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Registration
  Statement Under The Investment Company Act Of 1940</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Wingdings" style="font-size:12.0pt;font-weight:bold;">x</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Amendment
  No.&nbsp;73<br>
  </font></b>(Check appropriate box or boxes)</p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Wingdings" style="font-size:10.0pt;font-weight:bold;">x</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">ING PRIME RATE TRUST</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;(Exact Name of Registrant Specified in
  Charter)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">7337 E.
  Doubletree Ranch Road <br>
  Scottsdale, AZ 85258</font></b>  <br>
  (Address of Principal Executive Offices)</p>
  </td>
 </tr>
 <tr>
  <td width="91%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:91.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s
  Telephone Number, Including Area Code:&nbsp;
  <b>(800) 992-0180</b></font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Huey P. Falgout,&nbsp;Jr.<br>
  ING Investments, LLC<br>
  7337 East Doubletree Ranch Road<br>
  Scottsdale, AZ 85258<br>
  </font></b>(Name and Address of Agent for Service)</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies to:<br>
  <b>Jeffrey S. Puretz,&nbsp;Esq.<br>
  Dechert LLP<br>
  1775 I Street, NW<br>
  Washington, DC&nbsp; 20006</b></font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="367" style="border:none;"></td>
  <td width="15" style="border:none;"></td>
  <td width="305" style="border:none;"></td>
  <td width="12" style="border:none;"></td>
  <td width="49" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Approximate Date of
Proposed Offering:</font></u></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">As soon
as practical after the effective date of this Registration Statement</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If any securities
being registered on this form will be offered on a delayed or continuous basis
in reliance on Rule&nbsp;415 under the Securities Act of 1933, other than
securities offered in connection with a dividend reinvestment plan, check the
following box.&#160; </font><font face="Wingdings">x</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is proposed that this filing will become effective:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font>&#160; When declared effective pursuant to Section&nbsp;8(c)&nbsp;of
the Securities Act of 1933.</p>

<div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105455\08-11032-2\task3006227\11032-2-ba-01.htm',USER='105455',CD='Jun 26 17:39 2008' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">ING PRIME RATE TRUST</font></p><p style="color:black;margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">(&#147;Registrant&#148;)</font></p><p style="color:black;margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p><p style="color:black;margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">25,000,000 Common Shares</font></p><p style="color:black;margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p><p style="color:black;margin:0in 0in .0001pt;text-align:center;"><font size="2" color="b
lack" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">CONTENTS OF REGISTRATION STATEMENT</font></p><p style="color:black;margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">This Registration Statement consists of the following papers and documents:</font></p><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">*</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Cover Sheet</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">*</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Contents of Registration Statement</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">*</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Supplement dated June&nbsp;30, 2008.</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">*</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">ING Prime Rate Trust 25,000,000 Common Shares&#146; Prospectus dated June&nbsp;30, 2008.</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">*</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">ING Prime Rate Trust 5,000,000 and 25,000,000 Common Shares&#146; Statement of Additional Information dated June&nbsp;30, 2008.</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">*</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Part&nbsp;C</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.6%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">*</font></p></td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;"><p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Signature Page</font></p></td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">

<hr size="3" width="100%" noshade color="#010101" align="left">

</font></p></div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-bc-01.htm',USER='105432',CD='Jun 26 16:57 2008' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Prime Rate Trust</font></b></p>

<p style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;Registrant&#148;)</font></b></p>

<p style="color:windowtext;font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Supplement dated June&nbsp;30, 2008 to the
Registrant&#146;s 25,000,000 Common Shares&#146; Prospectus dated June&nbsp;30, 2008</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Prospectus for the Registrant is hereby supplemented with the
following information relating to &#147;Information Regarding Trading of ING&#146;s U.S.
Mutual Funds.&#148;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Information Regarding Trading of ING&#146;s U.S. Mutual Funds</font></b></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As discussed in earlier supplements, ING Investments, LLC
(&#147;Investments&#148;), the adviser to the ING Funds, has reported to the Boards of
Directors/Trustees (the &#147;Boards&#148;) of the ING Funds that, like many U.S.
financial services companies, Investments and certain of its U.S. affiliates
have received informal and formal requests for information since September&nbsp;2003
from various governmental and self-regulatory agencies in connection with
investigations related to mutual funds and variable insurance products.&#160; Investments has advised the Boards that it
and its affiliates have cooperated fully with each request.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition to responding to regulatory and governmental requests,
Investments reported that management of U.S. affiliates of ING Groep N.V.,
including Investments (collectively, &#147;ING&#148;), on their own initiative, have
conducted, through independent special counsel and a national accounting firm,
an extensive internal review of trading in ING insurance, retirement, and
mutual fund products. The goal of this review was to identify any instances of
inappropriate trading in those products by third parties or by ING investment
professionals and other ING personnel. ING&#146;s internal review related to mutual
fund trading is now substantially completed.&#160;
ING has reported that, of the millions of customer relationships that
ING maintains, the internal review identified several isolated arrangements
allowing third parties to engage in frequent trading of mutual funds within
ING&#146;s variable insurance and mutual fund products, and identified other
circumstances where frequent trading occurred, despite measures taken by ING
intended to combat market timing.&#160; ING
further reported that each of these arrangements has been terminated and fully
disclosed to regulators.&#160; The results of
the internal review were also reported to the independent members of the
Boards.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Investments has advised the Boards that most of the
identified arrangements were initiated prior to ING&#146;s acquisition of the
businesses in question in the U.S.&#160;
Investments further reported that the companies in question did not
receive special benefits in return for any of these arrangements, which have
all been terminated.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Based on the internal review, Investments has advised
the Boards that the identified arrangements do not represent a systemic problem
in any of the companies that were involved.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105546\08-11032-2\task3008067\11032-2-be.htm',USER='105546',CD='Jun 27 09:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Despite the extensive internal review conducted through independent special counsel and a national accounting firm, there can be no assurance that the instances of inappropriate trading reported to the Boards are the only instances of such trading respecting the ING Funds.</font></p><p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Investments reported to the Boards that ING is
committed to conducting its business with the highest standards of ethical
conduct with zero tolerance for noncompliance. Accordingly, Investments advised
the Boards that ING management was disappointed that its voluntary internal
review identified these situations. Viewed in the context of the breadth and
magnitude of its U.S. business as a whole, ING management does not believe that
ING&#146;s acquired companies had systemic ethical or compliance issues in these
areas. Nonetheless, Investments reported that given ING&#146;s refusal to tolerate
any lapses, it has taken the steps noted below, and will continue to seek
opportunities to further strengthen the internal controls of its affiliates.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:black;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Symbol" style="color:windowtext;font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:windowtext;">ING has
agreed with the ING Funds to indemnify and hold harmless the ING Funds from all
damages resulting from wrongful conduct by ING or its employees or from ING&#146;s
internal investigation, any investigations conducted by any governmental or
self-regulatory agencies, litigation or other formal proceedings, including any
proceedings by the SEC.&#160; Investments
reported to the Boards that ING management believes that the total amount of
any indemnification obligations will not be material to ING or its U.S.
business.</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>ING updated its Code of Conduct for employees
reinforcing its employees&#146; obligation to conduct personal trading activity
consistent with the law, disclosed limits, and other requirements.</p>

<p style="color:windowtext;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Other Regulatory Matters.</font></b></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The New York
Attorney General (the &#147;NYAG&#148;) and other federal and state regulators are also
conducting broad inquiries and investigations involving the insurance industry.
These initiatives currently focus on, among other things, compensation and
other sales incentives; potential conflicts of interest; potential
anti-competitive activity; reinsurance; marketing practices (including
suitability); specific product types (including group annuities and indexed
annuities); fund selection for investment products and brokerage sales; and
disclosure. It is likely that the scope of these industry investigations will
further broaden before they conclude. ING has received formal and informal
requests in connection with such investigations, and is cooperating fully with
each request.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other federal and state regulators could initiate similar actions in
this or other areas of ING&#146;s businesses. These regulatory initiatives may
result in new legislation and regulation that could significantly affect the
financial services industry, including businesses in which ING is engaged. In
light of these and other developments, ING continuously reviews whether
modifications to its business practices are appropriate. At this time, in light
of the current regulatory factors, ING U.S. is actively engaged in reviewing
whether any modifications in our practices are appropriate for the future.</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105546\08-11032-2\task3008067\11032-2-be.htm',USER='105546',CD='Jun 27 09:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">There
can be no assurance that these matters, or the adverse publicity associated
with them, will not result in increased fund redemptions, reduced sale of fund
shares, or other adverse consequences to ING Funds.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="color:windowtext;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

<p style="color:windowtext;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105546\08-11032-2\task3008067\11032-2-be.htm',USER='105546',CD='Jun 27 09:09 2008' -->



<br clear="all" style="page-break-before:always;">
<!-- Document name: 08-11032-4.aa-->
<p><img src="j08110324_aa024.jpg"></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Prospectus</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="4">Prospectus</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>June 30, 2008</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">25,000,000 Common Shares</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>ING Prime Rate Trust</b></font></p>
<p><font face="Times New Roman PS, Times New Roman, Times" size="1">This Prospectus sets forth concisely the information about ING Prime Rate Trust ("Trust") that a prospective investor ought to know before investing. You should read it carefully before you invest, and keep it for future reference.</font></p>


<p><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust has filed with the U.S. Securities and Exchange Commission ("SEC") a Statement of Additional Information ("SAI") dated June 30, 2008 containing additional information about the Trust. The SAI is incorporated by reference in its entirety into this Prospectus. You may obtain a free copy of the SAI, annual shareholder report and semi-annual shareholder report by contacting the Trust at (800) 992-0180 or by writing to the Trust at 7337 East Doubletree Ranch Road, Scottsdale, Arizona 85258. The Trust's SAI and annual and semi-annual shareholder reports are available, free of charge, on the Trust's website at www.ingfunds.com. The Prospectus, SAI and other information about the Trust are also available on the SEC's website (http://www.sec.gov). The table of contents for the SAI appears on page 32 of this Prospectus.</font></p>

<p><font face="Times New Roman PS, Times New Roman, Times" size="1">Common Shares of the Trust trade on the New York Stock Exchange (the "NYSE") under the symbol PPR.</font></p>


<p><font face="Times New Roman PS, Times New Roman, Times" size="1">Market fluctuations and general economic conditions can adversely affect the Trust. There is no guarantee that the Trust will achieve its investment objective. Investment in the Trust involves certain risks and special considerations, including risks associated with the Trust's use of leverage. See "Risk Factors and Special Considerations" on pages 5 and 17 for a discussion of any factors that make investment in the Trust speculative or high risk.</font></p>

<p><font face="Times New Roman PS, Times New Roman, Times" size="1">Neither the SEC nor any state securities commission has approved or disapproved these securities, or determined that this Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. </font></p>
<p><img src="j08110324_aa025.jpg"></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=1,FOLIO='',FILE='08-11032-4.aa',USER='bliteck',CD='Jun 18 21:33 2008' -->
<br clear="all" style="page-break-before:always;">


<br clear="all" style="page-break-before:always;">
<!-- Document name: 08-11032-4.ba-->
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">WHAT'S INSIDE</font></p>
<p align="left"><img src="j08110324_ba001.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="2">&nbsp;&nbsp;INVESTMENT<BR>OBJECTIVE</font></p>
<p align="left"><img src="j08110324_ba002.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="2">&nbsp;&nbsp;PRINCIPAL<BR>INVESTMENT <BR>STRATEGIES</font></p>
<p align="left"><img src="j08110324_ba003.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="2">&nbsp;&nbsp;RISKS</font></p>
<p align="left"><img src="j08110324_ba004.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="2">&nbsp;&nbsp;WHAT YOU PAY TO INVEST</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">This Prospectus contains a description of ING Prime Rate Trust ("Trust"), including the Trust's investment objective, principal investment strategies and risks. </font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">You'll also find:</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>What you pay to invest. </b></font><font face="Times New Roman PS, Times New Roman, Times" size="2">A list of the fees and expenses you pay &#151; both directly and indirectly</font><font size="2"> </font><font face="Times New Roman PS, Times New Roman, Times" size="2">&#151;</font><font size="2"> </font><font face="Times New Roman PS, Times New Roman, Times" size="2">when you invest in the Trust.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Introduction to ING Prime Rate Trust</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">1</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Prospectus Synopsis</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">2</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">What You Pay To Invest &#151; Trust Expenses</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">7</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Financial Highlights</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">10</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Trading and NAV Information</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">12</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Investment Objective and Policies</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">13</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust's Investments</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">15</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Risk Factors and Special Considerations</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">17</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Transaction Policies</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">22</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Plan of Distribution</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">23</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Use of Proceeds</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">24</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Dividends and Distributions</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">24</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Investment Management and Other <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">Service Providers</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">25</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Description of the Trust</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">27</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Description of Capital Structure</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">29</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Tax Matters</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">30</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">More Information</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">31</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Statement of Additional Information<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">Table of Contents</font></td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="37" align="right" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">32</font></td>
<td colspan="1" width="8" valign="top">
&nbsp;</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
</table>

<p>&nbsp;</p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=2,FOLIO='',FILE='08-11032-4.ba',USER='bforo',CD='Jun 27 04:09 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="center"><font face="Times New Roman PS, Times New Roman, Times" size="2">(THIS PAGE INTENTIONALLY LEFT BLANK)</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=3,FOLIO='',FILE='08-11032-4.ba',USER='bforo',CD='Jun 27 04:09 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">INTRODUCTION TO ING PRIME RATE TRUST</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Risk is the potential that your investment will lose money or not earn as much as you hope. All mutual funds have varying degrees of risk, depending upon the securities in which they invest.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">This Trust involves certain risks and special considerations, including risks associated with investing in below investment grade assets and risks associated with the Trust's use of borrowing and other leverage strategies. See "Risk Factors and Special Considerations" on pages 5 and 17.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Please read this Prospectus carefully to be sure you understand the principal investment strategies and risks associated with the Trust. You should consult the SAI for a complete list of the principal investment strategies and risks.</font></p>
<p align="left"><img src="j08110324_ba005.jpg">
</p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">If you have any questions about the Trust, please call your investment professional or us at 1-800-992-0180.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b><i>This Prospectus is designed to help you make an informed decision about making an investment in the Trust. Please read it carefully and retain it for future reference.</i></b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Who should invest in the Trust?</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>THE TRUST MAY BE A SUITABLE INVESTMENT IF YOU:</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;are seeking a high level of current income; and</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;are willing to accept the risks associated with an investment in a leveraged portfolio consisting primarily of senior loans that are typically below investment grade credit quality.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>DESCRIPTION OF THE TRUST</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust is a diversified, closed-end management investment company that seeks to provide investors with as high a level of current income as is consistent with the preservation of capital. The Trust seeks to achieve this objective by investing in a professionally managed portfolio comprised primarily of senior loans, an investment typically not available directly to individual investors. </font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Since the senior loans in the Trust's portfolio typically are below investment grade credit quality and the portfolio is leveraged, the Trust has speculative characteristics. The Trust cannot guarantee that it will achieve its investment objective.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Common Shares of the Trust trade on the New York Stock Exchange ("NYSE") under the symbol PPR.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's investment adviser is ING Investments, LLC. The Trust's sub-adviser is ING Investment Management Co.</font></p>
<p><img src="j08110324_ba006.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Introduction to the Trust<br>1</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=4,FOLIO='1',FILE='08-11032-4.ba',USER='bforo',CD='Jun 27 04:09 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">PROSPECTUS SYNOPSIS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The following synopsis is qualified in its entirety by reference to the more detailed information appearing elsewhere in this Prospectus.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>DESCRIPTION OF <BR>THE TRUST</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>The Trust</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust is a diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended ("1940 Act"). It was organized as a Massachusetts business trust on December 2, 1987. As of June 16, 2008, the Trust's net asset value ("NAV") per Common Share was $6.52.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>NYSE Listed</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">As of June 16, 2008, the Trust had 145,094,493 Common Shares outstanding, which are traded on the NYSE under the symbol PPR. At that date, the last reported sales price of a Common Share of the Trust was $5.83.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Investment Objective</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">To provide investors with as high a level of current income as is consistent with the preservation of capital. There is no assurance that the Trust will achieve its investment objective.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Adviser/Sub-Adviser</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust's investment adviser is ING Investments, LLC ("ING Investments" or "Adviser"), an Arizona limited liability company. As of March 31, 2008, ING Investments managed approximately $49.7 billion in assets.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The Adviser is an indirect, wholly-owned subsidiary of ING Groep N.V. ("ING Groep") (NYSE: ING). ING Groep is one of the largest financial services organizations in the world with approximately 120,000 employees. Based in Amsterdam, ING Groep offers an array of banking, insurance and asset management services to both individual and institutional investors.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The Adviser receives an annual fee, payable monthly, in an amount equal to 0.80% of the Trust's average daily gross asset value, minus the sum of the Trust's accrued and unpaid dividends on any outstanding preferred shares and accrued li
abilities (other than liabilities for the principal amount of any borrowings incurred, commercial paper or notes issued by the Trust and the liquidation preference of any outstanding preferred shares) ("Managed Assets"). This definition includes the assets acquired through the Trust's use of leverage.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">ING Investment Management Co. ("ING IM" or "Sub-Adviser") serves as sub-adviser to the Trust. See "Investment Management and Other Service Providers &#151; Sub-Adviser" on page 25. ING IM is an affiliate of the Adviser.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Distributions</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Income dividends on Common Shares accrue and are declared and paid monthly. Income dividends may be distributed in cash or reinvested in additional full and fractional shares of the Trust through the Trust's Shareholder Investment Program.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Principal Investment Strategies</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in U.S. dollar denominated floating rate secured senior loans ("Senior Loans"). The Trust will provide shareholders with at least 60 days' prior notice of any change in this investment policy. Under normal circumstances, the Trust invests at least 80% of its assets in Senior Loans made to corporations or other business entities organized under U.S. or Canadian law and that are domiciled in the United States or in U.S. territories or possessions or Canada.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The Senior Loans in which the Trust invests either hold the most senior position in the capital structure of the borrower or hold an equal ranking with other senior debt or have characteristics that the Adviser or Sub-Adviser believes jus
tifies treatment as senior debt. These Senior Loans are typically below investment grade quality.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust typically makes its investments in Senior Loans by purchasing a portion of the overall loan, </font><font face="Times New Roman PS, Times New Roman, Times" size="2"><i>i.e.</i></font><font face="Times New Roman PS, Times New Roman, Times" size="2">, the Trust becomes one of a number of lenders investing in the loan. The Trust may also make its investments in Senior Loans through the use of derivative instruments such as participations, credit-linked notes, credit default swaps, and total return swaps as long as the reference obligation for any such instrument is a Senior Loan. Investments through the use of such derivative instruments involve counterparty risk, <i>i.e.</i>, the risk that the party from which such instrument is purchased will not perform as agreed. The Trust seeks to minimize such counterparty risk by purchasing 
such investments from large, well established and highly rated counterparties.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
</table>

<p>&nbsp;</p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Prospectus Synopsis<br>2</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=5,FOLIO='2',FILE='08-11032-4.ba',USER='bforo',CD='Jun 27 04:09 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">PROSPECTUS SYNOPSIS</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Other Investment Strategies and Policies</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Assets not invested in Senior Loans may be invested in unsecured loans, subordinated loans, tranches of floating rate asset-backed securities, including structured notes, short-term debt securities, and equities acquired in connection with investments in loans. See "Investment Objective and Policies" on page 13.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">Loans in which the Trust invests typically have multiple reset periods at the same time, with each reset period applicable to a designated portfolio of the loan. The maximum duration of an interest rate reset on any loan in which the Trust may invest is one year. In order to achieve overall reset balance, the Trust will ordinarily maintain a dollar-weighted average time until the next interest rate adjustment on its loans of 90 days or less.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">Normally at least 80% of the Trust's portfolio w
ill be invested in Senior Loans with maturities of one to ten years. The maximum maturity on any loan in which the Trust may invest is ten years.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">To seek to increase the yield on the Common Shares, the Trust may engage in lending its portfolio securities. Such lending will be fully secured by investment grade collateral held by an independent agent.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The Fund may invest up to 20% of its total assets, measured at the time of investment, in a combination of one or more of the following types of investments: loans to borrowers organized outside the United States and in U.S. territories and possessions or Canada, unsecured floating rate loans, notes and other debt instruments; floating rate subordinated loans; tranches of floating rate asset-backed securities, short-term debt securities; and equity securities incidental to investment in loans. See "Investment Object
ive and Policies" on page 13.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust may engage in executing repurchase and reverse repurchase agreements.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Leverage</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">To seek to increase the yield on the Common Shares, the Trust employs financial leverage by borrowing money and issuing preferred shares. The timing and terms of leverage will be determined by the Trust's Board of Trustees ("Board") in consultation with the Adviser or Sub-Adviser. See "Risk Factors and Special Considerations &#151; Leverage" on page 18.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Borrowings</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Under the 1940 Act, the Trust may borrow up to an amount equal to 33</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>1</sup></font><font face="Times New Roman PS, Times New Roman, Times" size="2">/</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sub>3</sub></font><font face="Times New Roman PS, Times New Roman, Times" size="2">% of its total assets (including the proceeds of the borrowings) less all liabilities other than borrowings. The Trust's obligations to holders of its debt are senior to its ability to pay dividends on, or repurchase, Common Shares and preferred shares, or to pay holders of Common Shares and preferred shares in the event of liquidation.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
</table>

<p>&nbsp;</p>
<p><img src="j08110324_ba007.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Prospectus Synopsis<br>3</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=6,FOLIO='3',FILE='08-11032-4.ba',USER='bforo',CD='Jun 27 04:09 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">PROSPECTUS SYNOPSIS</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Preferred Shares</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Under the 1940 Act, the Trust may issue preferred shares so long as immediately after any issuance of preferred shares the value of the Trust's total assets (less all Trust liabilities and indebtedness that is not senior indebtedness) is at least twice the amount of the Trust's senior indebtedness plus the involuntary liquidation preference of all outstanding shares.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust is authorized to issue an unlimited number of shares of a class of preferred stock in one or more series. In November 2000, the Trust issued 3,600 shares each of Series M, T, W, Th and F Auction Rate Cumulative Preferred Shares, $0.01 par value, $25,000 liquidation preference per share, for a total issuance of $450 million ("Preferred Shares"). The Trust's obligations to holders of the Preferred Shares are senior to its ability to pay dividends on, or repurchase, Common Shares, or to pay holders of
 Common Shares in the event of liquidation.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The 1940 Act also requires that the holders of the Preferred Shares, voting as a separate class, have the right to:<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">&#149; elect at least two trustees at all times; and<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">&#149; elect a majority of the trustees at any time when dividends on any series of Preferred Shares are unpaid for two full years.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">In each case, the holders of Common Shares voting separately as a class will elect the remaining trustees.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">Since early February 2008, the Trust has not received hold orders and purchase requests for its Preferred Shares during their weekly auctions that equaled the full amount of such shares. As a resu
lt, under the terms of the Preferred Shares, the amount sold by each selling shareholder was reduced pro rata or to zero. In addition, the dividend rate on such preferred shares, which is normally set by means of a Dutch auction procedure, automatically reset to the maximum rate permitted under the Preferred Shares program. That maximum rate is 150% of the applicable commercial paper base rate on the day of the auction. It is unclear whether the dividend rate for the Preferred Shares will be set by means of an auction again in the future. On June 9, 2008, the Trust announced the approval by the Board of Trustees of a partial redemption of its outstanding Preferred Shares. The Trust expects to redeem approximately $225 million of the $450 million of its outstanding Preferred Shares. The Preferred Shares are expected to be redeemed using proceeds available through the Trust's existing bank loan facility.  Redemption costs and the on-going costs of obtaining leverage through a bank loan facility may reduce retu
rns to Common Shares and may be higher than the costs of leverage obtained through the Preferred Shares. The Trust and the Board of Trustees will continue to closely monitor the situation and evaluate potential options to restore liquidity to and/or provide additional refinancing options for this market in the context of regulatory guidelines, as well as the economic and tax implications for both its Common and Preferred shareholders.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Diversification</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust maintains a diversified investment portfolio, an investment strategy which seeks to limit exposure to any one issuer or industry.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">As a diversified investment company, the Trust may not make investments in any one issuer (other than the U.S. government) if, immediately after such purchase or acquisition, more than 5% of the value of the Trust's total assets would be invested in such issuer, or the Trust would own more than 25% of any outstanding issue. The Trust will consider a borrower on a loan, including a loan participation, to be the issuer of that loan. In addition, with respect to a loan under which the Trust does not have privity with the borrower or would not have a direct cause of action against the borrower in the event of the failure of the borrower to pay scheduled principal or interest, the Trust will also separately meet the foregoing requirements
 and consider each interpositioned bank (a lender from which the Trust acquires a loan) to be an issuer of the loan. This investment strategy is a fundamental policy that may not be changed without shareholder approval. With respect to no more than 25% of its total assets, the Trust may make investments that are not subject to the foregoing restrictions.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Concentration</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">In addition, a maximum of 25% of the Trust's total assets, measured at the time of investment, may be invested in any one industry. This investment strategy is also a fundamental policy that may not be changed without shareholder approval.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
</table>

<p>&nbsp;</p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Prospectus Synopsis<br>4</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=7,FOLIO='4',FILE='08-11032-4.ba',USER='bforo',CD='Jun 27 04:09 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">PROSPECTUS SYNOPSIS</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Plan of Distribution</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">The Common Shares are offered by the Trust through the Trust's Shareholder Investment Program. The Shareholder Investment Program allows participating shareholders to reinvest all dividends in additional shares of the Trust, and also allows participants to purchase additional Common Shares through optional cash investments in amounts ranging from a minimum of $100 to a maximum of $100,000 per month. The Trust and ING Funds Distributor, LLC ("ING Funds Distributor") reserve the right to reject any purchase order. Please note that cash, travelers checks, third-party checks, money orders and checks drawn on non-U.S. banks (even if payment may be effected through a U.S. bank) generally will not be accepted. Common Shares may be issued by the Trust under the Shareholder Investment Program only if the Trust's Common Shares are trading at a premium to NAV. If the Trust's Common Shares are trading at a discount to NAV, Common Shares purchased under the
 Shareholder Investment Program will be purchased on the open market. See "Plan of Distribution" on pages 23 and 24.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">Shareholders may elect to participate in the Shareholder Investment Program by telephoning the Trust or submitting a completed Participation Form to DST Systems, Inc. ("DST").<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">Common Shares also may be offered pursuant to privately negotiated transactions between the Trust or ING Funds Distributor and individual investors. Common Shares of the Trust issued in connection with privately negotiated transactions will be issued at the greater of (i) NAV per Common Share of the Trust's Common Shares or (ii) at a discount ranging from 0% to 5% of the average daily market price of the Trust's Common Shares at the close of business on the two business days preceding the date upon which Common Shares are sold pursuant to the privately negotiated transactio
n. See "Plan of Distribution" on pages 23 and 24.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Administrator</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust's administrator is ING Funds Services, LLC ("Administrator"). The Administrator is an affiliate of the Adviser. The Administrator receives an annual fee, payable monthly, in a maximum amount equal to 0.25% of the Trust's Managed Assets.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
</table>

<p>&nbsp;</p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>RISK FACTORS<BR>AND SPECIAL<BR>CONSIDERATIONS</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="416" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Credit Risk on Senior Loans</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust invests a substantial portion of its assets in below investment grade Senior Loans and other below investment grade assets. Below investment grade loans involve a greater risk that borrowers may not make timely payment of the interest and principal due on their loans. They also involve a greater risk that the value of such loans could decline significantly. If borrowers do not make timely payments of the interest due on their loans, the yield on the Trust's Common Shares will decrease. If borrowers do not make timely payment of the principal due on their loans, or if the value of such loans decreases, the Trust's NAV will decrease.</font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Interest Rate Risk</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">Changes in short-term market interest rates will directly affect the yield on the Trust's Common Shares. If short-term market interest rates fall, the yield on the Trust's Common Shares will also fall. To the extent that the interest rate spreads on loans in the Trust's portfolio experience a general decline, the yield on the Trust's Common Shares will fall and the value of the Trust's assets may decrease, which will cause the Trust's NAV to decrease. Conversely, when short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on assets in the Trust's portfolio, the impact of rising rates will be delayed to the extent of such lag.</font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Discount from NAV</b></font></td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">
<font face="Times New Roman PS, Times New Roman, Times" size="2">As with any security, the market value of the Common Shares may increase or decrease from the amount that you paid for the Common Shares.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust's Common Shares may trade at a discount to NAV. This is a risk separate and distinct from the risk that the Trust's NAV per Common Share may decrease.</font></td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
</table>

<p>&nbsp;</p>
<p><img src="j08110324_ba008.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Prospectus Synopsis<br>5</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=8,FOLIO='5',FILE='08-11032-4.ba',USER='bforo',CD='Jun 27 04:09 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">PROSPECTUS SYNOPSIS</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Leverage</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust's use of leverage through borrowings and the issuance of Preferred Shares can adversely affect the yield on the Trust's Common Shares. To the extent that the Trust is unable to invest the proceeds from the use of leverage in assets which pay interest at a rate which exceeds the rate paid on the leverage, the yield on the Trust's Common Shares will decrease. In addition, in the event of a general market decline in the value of assets such as those in which the Trust invests, the effect of that decline will be magnified in the Trust because of the additional assets purchased with the proceeds of the leverage. As of June 16, 2008, the Trust had $592 million of total leverage, including $142 million of borrowings under two credit facilities and $450 million Preferred Shares (issued and outstanding).</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Limited Secondary Market For Loans</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Because of the limited secondary market for loans, the Trust may be limited in its ability to sell loans in its portfolio in a timely fashion and/or at a favorable price.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Demand For Loans</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">An increase in demand for loans may adversely affect the rate of interest payable on new loans acquired by the Trust, and it may also increase the price of loans in the secondary market. A decrease in the demand for loans may adversely affect the price of loans in the Trust's portfolio, which could cause the Trust's NAV to decline.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Impact of Shareholder Investment Program and Privately Negotiated Transactions</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">The issuance of Common Shares through the Shareholder Investment Program and/or through privately negotiated transactions may have an adverse effect on prices in the secondary market for the Trust's Common Shares by increasing the number of Common Shares available for sale. In addition, the Common Shares may be issued at a discount to the market price for such Common Shares, which may put downward pressure on the market price for Common Shares of the Trust.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="416" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Investment in Foreign Borrowers</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="8030" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust may hold a portion of its assets in short-term interest bearing instruments. Moreover, in periods when, in the opinion of the Adviser or Sub-Adviser, a temporary defensive position is appropriate, up to 100% of the Trust's assets may be held in cash or short-term interest bearing instruments. The Trust may not achieve its investment objective when pursuing a temporary defensive position.<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">The Trust may invest up to 20% of its total assets, measured at the time of investment, in loans, secured or unsecured, to borrowers that are organized or located in countries outside the United States and U.S. territories and possessions or Canada. The Trust may invest up to 15% of its total assets, measured at the time of investment, in investments denominated in the Organization for Economic Co-operation and Development ("OECD") currencies (including the Euro), other than th
e U.S. dollar. The Trust will engage in currency exchange transactions to seek to hedge, as closely as practicable, 100% of the economic impact to the Trust arising from foreign currency fluctuations. The Trust may not be entirely successful in implementing this hedging strategy, resulting in the Trust being adversely affected by foreign currency fluctuations. Investment in foreign borrowers involves special risks, including that foreign borrowers may be subject to:<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">&#149; less rigorous regulatory, accounting and reporting requirements than U.S. borrowers;<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">&#149; differing legal systems and laws relating to creditors' rights;<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">&#149; the potential inability to enforce legal judgments;<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">&#149; economic adversity that
 would result if the value of the borrower's non-U.S. dollar denominated revenues and assets were to fall because of fluctuations in currency values; and<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">&#149; the potential for political, social and economic adversity in the foreign borrower's country.</font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
</table>

<p>&nbsp;</p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Prospectus Synopsis<br>6</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=9,FOLIO='6',FILE='08-11032-4.ba',USER='bforo',CD='Jun 27 04:09 2008' -->
<br clear="all" style="page-break-before:always;">


<br clear="all" style="page-break-before:always;">
<!-- Document name: 08-11032-4.ca-->
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">WHAT YOU PAY TO INVEST &#151; TRUST EXPENSES</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The cost you pay to invest in the Trust includes the expenses incurred by the Trust. In accordance with SEC requirements, the table below shows the expenses of the Trust, including interest expense on borrowings, as a percentage of the average net assets of the Trust, and not as a percentage of gross assets or Managed Assets. By showing expenses as a percentage of net assets, expenses are not expressed as a percentage of all of the assets that are invested for the Trust. The Table below assumes that the Trust has issued $450 million of Preferred Shares and has borrowed an amount equal to 25% of its Managed Assets. For information about the Trust's expense ratios if the Trust had not borrowed or issued Preferred Shares, see "Risk Factors and Special Considerations &#151; Annual Expenses Without Borrowings or Preferred Shares."</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="7" width="369" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Shareholder Transaction Expenses</b></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="283" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Shareholder Investment Program Fees</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="42" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">NONE</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="283" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Privately Negotiated Transactions Maximum Sales Load on <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">Your Investment (as a percentage of offering price)</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="42" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.00</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="7" width="369" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Annual Expenses (as a percentage of net assets attributable to Common Shares)</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="283" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Management and Administrative Fees<sup>(1)</sup></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="42" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.01</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="283" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Interest Expense on Borrowed Funds</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="42" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.74</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="283" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Other Operating Expenses<sup>(2)</sup></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="42" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.31</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="283" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Total Annual Expenses<sup>(3)</sup></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="42" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">5.06</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(1)</sup>&nbsp;&nbsp;Pursuant to the Investment Advisory Agreement with the Trust, ING Investments is paid a fee of 0.80% of the Trust's Managed Assets. Pursuant to its Administration Agreement with the Trust, the Trust's Administrator is paid a fee of 0.25% of the Trust's Managed Assets. See "Investment Management and Other Service Providers &#151; The Administrator."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(2)</sup>&nbsp;&nbsp;Other Operating Expenses are based on estimated amounts for the current fiscal year, which, in turn, are based on other operating expenses for the fiscal year ended February 29, 2008, and do not include the expenses of borrowing.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(3)</sup>&nbsp;&nbsp;If the Total Annual Expenses of the Trust were expressed as a percentage of Managed Assets (assuming the same 25% borrowing), the Total Annual Expense ratio would be 2.65%.</font></p>

<p><img src="j08110324_ca001.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">What You Pay to Invest &#151; Trust Expenses<br>7</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=10,FOLIO='7',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">WHAT YOU PAY TO INVEST &#151; TRUST EXPENSES</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Examples</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The following hypothetical Examples show the amount of the expenses that an investor in the Trust would bear on a $1,000 investment that is held for the different time periods in the table. The examples assume that all dividends and other distributions are reinvested at NAV and that the percentage amounts listed under Total Annual Expenses remain the same in the years shown. The tables and the assumption in the hypothetical examples of a 5% annual return are required by regulations of the SEC applicable to all investment companies. The assumed 5% annual return is not a prediction of, and does not represent, the projected or actual performance of the Trust's Common Shares. For more complete descriptions of certain of the Trust's costs and expenses, see "Investment Management and Other Service Providers."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Example #1</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The following Example applies to shares issued in connection with the Trust's Shareholder Investment Program. This example does not take into account whether such shares are purchased at a discount or a premium to the Trust's NAV.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="237" valign="bottom">


&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="69" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>1 Year</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="73" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>3 Years</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="73" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>5 Years</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>10 Years</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="237" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">You would pay the following expenses on a $1,000 <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">investment, assuming a 5% annual return and where the <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">Trust has borrowed in an amount equal to 25% of its <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">Managed Assets.</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">51</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="45" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">155</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="45" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">263</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="50" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">547</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="237" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">You would pay the following expenses on a $1,000<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">investment, assuming a 5% annual return and where the<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">Trust has not borrowed.</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="41" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">18</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="45" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">57</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="45" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">98</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="50" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">213</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Example #2</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The following Example applies to shares issued in connection with privately negotiated transactions, which have the maximum front-end sales load of 3%.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="237" valign="bottom">


&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="69" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>1 Year</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="73" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>3 Years</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="73" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>5 Years</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="78" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>10 Years</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="237" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">You would pay the following expenses on a $1,000<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">investment, assuming a 5% annual return and where the<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">Trust has borrowed in an amount equal to 25% of its <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">Managed Assets.</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="41" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">79</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="45" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">181</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="45" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">285</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="50" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">560</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="237" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">You would pay the following expenses on a $1,000<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">investment, assuming a 5% annual return and where the<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">Trust has not borrowed.</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="41" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">48</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="45" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">85</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="45" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">125</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="50" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">236</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The purpose of each table is to assist you in understanding the various costs and expenses that an investor in the Trust will bear directly or indirectly.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>The foregoing Examples should not be considered a representation of future expenses, and actual expenses may be greater or less than those shown.</b></font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">What You Pay to Invest &#151; Trust Expenses<br>8</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=11,FOLIO='8',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="center"><font face="Times New Roman PS, Times New Roman, Times" size="2">(THIS PAGE INTENTIONALLY LEFT BLANK)</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=12,FOLIO='',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">FINANCIAL HIGHLIGHTS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Financial Highlights Table</b></font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The table below sets forth selected financial information. The financial information for the most recent 5 fiscal years has been derived from the financial statements in the Trust's annual shareholder report dated as of February 29, 2008. The information in the table below has been audited by KPMG LLP, an independent registered public accounting firm. A report of the Trust's independent registered public accounting firm along with the Trust's financial statements for the most recent 5 fiscal years is included in the Trust's annual shareholder report dated as of February 29, 2008. A free copy of the annual shareholder report may be obtained by calling (800) 992-0180.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="177" valign="bottom">


&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="23" width="584" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Years Ended February 28 or February 29,</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" valign="bottom">


&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="88" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2008</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="92" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2007</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="94" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2006</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="92" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2005</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="92" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2004</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="86" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2003</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="27" width="761" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Per Share Operating Performance</b></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net asset value, beginning of year</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.65</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.59</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.47</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.34</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.73</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.20</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="27" width="761" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Income (loss) from investment operations:</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net investment income</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.75</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.71</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.57</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.45</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.46</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.50</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net realized and unrealized gain (loss) <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">on investments</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(1.57</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.06</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.12</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.16</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.61</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.47</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Total from investment operations</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.82</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.77</font>

</td>
<td colspan="1" width="23" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.69</font>

</td>
<td colspan="1" width="25" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.61</font>

</td>
<td colspan="1" width="23" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.07</font>

</td>
<td colspan="1" width="23" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.03</font>

</td>
<td colspan="1" width="23" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Distributions to Common Shareholders<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">from net investment income</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.56</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.55</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.46</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.43</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.42</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.45</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Distribution to Preferred Shareholders</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.16</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.16</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.11</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.05</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.04</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.05</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Increase on net asset value from share offerings</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Reduction in net asset value from <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">Preferred Shares offerings</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net asset value, end of year</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.11</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.65</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.59</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.47</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.34</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.73</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Closing market price at end of year</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">5.64</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.40</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.02</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.56</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.84</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.46</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="27" width="761" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Total Investment Return</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b><sup>(1)</sup></b></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Total investment return at closing<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">market price</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(2)</sup></font>&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(17.25</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">13.84</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.82</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.04</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">28.77</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.53</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Total investment return at net asset <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">value</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(3)</sup></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(13.28</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.85</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.53</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.70</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">15.72</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.44</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="27" width="761" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Ratios/Supplemental Data</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net assets end of year (000's)</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">886,976</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1,109,539</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1,100,671</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1,082,748</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1,010,325</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">922,383</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Preferred Shares-Aggregate <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">amount outstanding (000's)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">450,000</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">450,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">450,000</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">450,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">450,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">450,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Liquidation and market value<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">per share of Preferred Shares</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">25,000</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">25,000</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">25,000</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">25,000</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">25,000</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">25,000</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Borrowings at end of year (000's)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">338,000</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">281,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">465,000</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">496,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">225,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">167,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Asset coverage per $1,000 of debt</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(4)</sup></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2,125</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2,517</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2,203</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2,140</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2,500</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2,500</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Average borrowings (000's)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">391,475</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">459,982</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">509,178</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">414,889</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">143,194</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">190,671</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="27" width="761" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Ratios to average net assets including <BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Preferred Shares</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(5)</sup></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Expenses (before interest and other <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">fees related to revolving credit <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">facility)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.54</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.57</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.64</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.60</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.45</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.49</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net expenses after expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.05</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.27</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.02</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.21</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.65</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.81</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Gross expenses prior to expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.05</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.27</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.02</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.22</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.65</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.81</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net investment income</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.23</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.68</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">5.44</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.21</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.57</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.97</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="27" width="761" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Ratios to average net assets plus <BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>borrowings</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Expenses (before interest and other<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">fees related to revolving credit <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">facility)</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.60</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.56</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.58</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.63</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.84</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.82</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Expenses</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net expenses after expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(6)</sup></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.17</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.25</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.90</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.26</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.09</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.23</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Gross expenses prior to expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(6)</sup></font>&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.17</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.25</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.90</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.27</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.09</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.23</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net investment income</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.53</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.63</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">5.24</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.32</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">5.82</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.10</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="27" width="761" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Ratios to average net assets</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Expenses (before interest and <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">other fees related to revolving<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">credit facility)</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.20</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.21</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.33</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.29</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.11</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.19</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net expenses after expense<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.36</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.62</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.27</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.17</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.40</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.68</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Gross expenses prior to expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.36</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.62</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.27</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.18</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.40</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.68</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net investment income</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">10.35</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">9.42</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.71</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.04</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.68</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.33</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Portfolio turnover rate</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">60</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">60</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">81</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">93</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">87</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">48</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Common shares outstanding at end <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">of year (000's)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">145,094</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">145,033</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">145,033</font>

</td>
<td colspan="1" width="25" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">145,033</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">137,638</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">136,973</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(1)&nbsp;&nbsp;Total investment return calculations are attributable to common shares.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(2)&nbsp;&nbsp;Total investment return at closing market price measures the change in the market value of your investment assuming reinvestment of dividends and capital gain distributions, if any, in accordance with the provisions of the Trust's dividend reinvestment plan.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(3)&nbsp;&nbsp;Total investment return at net asset value has been calculated assuming a purchase at net asset value at the beginning of each period and a sale at net asset value at the end of each period and assumes reinvestment of dividends and capital gain distributions in accordance with the provisions of the dividend reinvestment plan. This calculation differs from total investment return because it excludes the effects of changes in the market values of the Trust's shares.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(4)&nbsp;&nbsp;Asset coverage represents the total assets available for settlement of Preferred Stockholder's interest and notes payables in relation to the Preferred Shareholder interest and notes payable balance outstanding. The Preferred Shares were first offered November 2, 2000.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(5)&nbsp;&nbsp;Ratios do not reflect the effect of dividend payments to Preferred Shareholders; income ratios reflect income earned on assets attributable to the Preferred Shares; ratios do not reflect any add-back for the borrowings.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(6)&nbsp;&nbsp;The Adviser agreed to reduce its fee for a period of three years from the Expiration Date of the November 12, 1996 Rights Offering to 0.60% of the average daily net assets, plus the proceeds of any outstanding borrowings, over $1.15 billion.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(7)&nbsp;&nbsp;Calculated on total expenses before impact of earnings credits.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(A)&nbsp;&nbsp;Had the Trust not amortized premiums and accreted discounts, the ratio of net investment income to average net assets including Preferred Shares would have been 6.43% for the year ended February 28, 2002.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(B)&nbsp;&nbsp;Had the Trust not amortized premiums and accreted discounts, the ratio of net investment income to average net assets plus borrowings applicable to common shares would have been 6.82% for the year ended February 28, 2002.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(C)&nbsp;&nbsp;Had the Trust not amortized premiums and accreted discounts, the ratio of net investment income to average net assets applicable to common shares would have been 9.22% for the year ended February 28, 2002.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Financial Highlights<br>10</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=13,FOLIO='10',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">FINANCIAL HIGHLIGHTS</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="177" valign="bottom">


&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="15" width="399" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Years Ended February 28 or February 29,</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" valign="bottom">


&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="91" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2002</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="92" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2001</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="96" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2000</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="96" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>1999</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b><sup>(6)</sup></b></font>&nbsp;

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="19" width="576" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Per Share Operating Performance</b></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net asset value, beginning of year</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.09</font>

</td>
<td colspan="1" width="28" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.95</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">9.24</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">9.34</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="19" width="576" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Income (loss) from investment operations:</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net investment income</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.74</font>

</td>
<td colspan="1" width="28" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.88</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.79</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.79</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net realized and unrealized gain (loss) <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">on investments</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.89</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.78</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.30</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.10</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Total from investment operations</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.15</font>

</td>
<td colspan="1" width="28" align="left" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.10</font>

</td>
<td colspan="1" width="23" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.49</font>

</td>
<td colspan="1" width="27" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.69</font>

</td>
<td colspan="1" width="27" valign="bottom" style="border:none; border-top:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Distributions to Common Shareholders<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">from net investment income</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.63</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.86</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.78</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.82</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Distribution to Preferred Shareholders</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.11</font>

</td>
<td colspan="1" width="28" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.06</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Increase on net asset value from share offerings</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.03</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Reduction in net asset value from <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">Preferred Shares offerings</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="28" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(0.04</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net asset value, end of year</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.20</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.09</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.95</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1">9.24</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom" style="border:none; border-top:solid windowtext 1pt;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Closing market price at end of year</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.77</font>

</td>
<td colspan="1" width="28" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.12</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.25</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">9.56</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="19" width="576" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Total Investment Return</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b><sup>(1)</sup></b></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Total investment return at closing<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">market price</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(2)</sup></font>&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(9.20</font>

</td>
<td colspan="1" width="28" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">9.10</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(5.88</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.11</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Total investment return at net asset <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">value</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(3)</sup></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">(3.02</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">)%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.19</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">5.67</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.86</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="19" width="576" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Ratios/Supplemental Data</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net assets end of year (000's)</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">985,982</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1,107,432</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1,217,339</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1,202,565</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Preferred Shares-Aggregate <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">amount outstanding (000's)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">450,000</font>

</td>
<td colspan="1" width="28" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">450,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Liquidation and market value<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">per share of Preferred Shares</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">25,000</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">25,000</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Borrowings at end of year (000's)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">282,000</font>

</td>
<td colspan="1" width="28" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">510,000</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">484,000</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Asset coverage per $1,000 of debt</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(4)</sup></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2,350</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2,150</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,520</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Average borrowings (000's)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">365,126</font>

</td>
<td colspan="1" width="28" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">450,197</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">524,019</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">$</font>

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">490,978</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="19" width="576" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Ratios to average net assets including <BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Preferred Shares</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(5)</sup></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Expenses (before interest and other <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">fees related to revolving credit <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">facility)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.57</font>

</td>
<td colspan="1" width="28" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.62</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net expenses after expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.54</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.97</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Gross expenses prior to expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.54</font>

</td>
<td colspan="1" width="28" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.97</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net investment income</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.83</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(A)</sup></font>&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">9.28</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="19" width="576" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Ratios to average net assets plus <BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>borrowings</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Expenses (before interest and other<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">fees related to revolving credit <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">facility)</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.66</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.31</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.00</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.05</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Expenses</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="28" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.21</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.79</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.86</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net expenses after expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(6)</sup></font>&nbsp;

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.70</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Gross expenses prior to expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(6)</sup></font>&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.70</font>

</td>
<td colspan="1" width="28" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">&#151;</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net investment income</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.24</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(B)</sup></font>&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">7.50</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.12</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">6.00</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="19" width="576" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Ratios to average net assets</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Expenses (before interest and <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">other fees related to revolving<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">credit facility)</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">2.25</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.81</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.43</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.50</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net expenses after expense<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.64</font>

</td>
<td colspan="1" width="28" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.45</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.00</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.10</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Gross expenses prior to expense <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">reimbursement</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3.64</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.45</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.00</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">4.10</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(7)</sup></font>&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Net investment income</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">9.79</font>

</td>
<td colspan="1" width="28" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>(C)</sup></font>&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">10.39</font>

</td>
<td colspan="1" width="23" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.77</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">8.60</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Portfolio turnover rate</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">53</font>

</td>
<td colspan="1" width="28" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">46</font>

</td>
<td colspan="1" width="23" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">71</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="20" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">68</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="177" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Common shares outstanding at end <BR></font><font face="Times New Roman PS, Times New Roman, Times" size="1">of year (000's)</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">136,973</font>

</td>
<td colspan="1" width="28" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">136,847</font>

</td>
<td colspan="1" width="23" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">136,036</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="20" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="49" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">130,206</font>

</td>
<td colspan="1" width="27" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>
<p><img src="j08110324_ca002.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Financial Highlights<br>11</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=14,FOLIO='11',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">TRADING AND NAV INFORMATION</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The following table shows for the Trust's Common Shares for the periods indicated: (1) the high and low closing prices as shown on the NYSE Composite Transaction Tape; (2) the NAV per Common Share represented by each of the high and low closing prices as shown on the NYSE Composite Transaction Tape; and (3) the discount from or premium to NAV per Share (expressed as a percentage) represented by these closing prices. The table also sets forth the aggregate number of shares traded as shown on the NYSE Composite Transaction Tape during the respective quarter.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="121" valign="bottom">


&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="7" width="114" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b><BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Price</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="7" width="114" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b><BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>NAV</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="7" width="148" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Premium/(Discount)<BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>To NAV</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="91" align="center" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b><BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Reported</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" align="left" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Calendar Quarter Ended</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="53" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>High</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="53" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Low</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="53" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>High</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="53" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Low</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="67" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>High</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="73" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Low</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="91" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>NYSE Volume</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">March 31, 2006</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.12</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">6.72</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.62</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.42</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(6.19</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(9.43</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="75" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">21,188,110</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">June 30, 2006</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.11</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">6.83</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.63</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.48</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(4.95</font>

</td>
<td colspan="1" width="19" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(10.13</font>

</td>
<td colspan="1" width="19" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="75" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">20,530,200</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">September 30, 2006</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.14</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.00</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.52</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.45</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(4.67</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(6.54</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="75" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">22,496,800</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">December 31, 2006</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.25</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.09</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.57</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.39</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(3.38</font>

</td>
<td colspan="1" width="19" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(5.47</font>

</td>
<td colspan="1" width="19" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="75" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">24,088,200</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">March 31, 2007</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.44</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.20</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.65</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.53</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(2.38</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(4.51</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="75" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">24,173,486</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">June 30, 2007</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.90</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.33</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.68</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.61</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">3.40</font>

</td>
<td colspan="1" width="19" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(3.93</font>

</td>
<td colspan="1" width="19" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="75" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">28,919,700</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">September 30, 2007</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.65</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">6.23</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.63</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.02</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">0.39</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(12.38</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="75" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">34,681,500</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">December 31, 2007</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.07</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">6.16</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">7.28</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">6.90</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(2.35</font>

</td>
<td colspan="1" width="19" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(11.24</font>

</td>
<td colspan="1" width="19" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="75" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">27,286,400</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="121" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">March 31, 2008</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">6.41</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">5.25</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">6.92</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">5.87</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(4.33</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(13.08</font>

</td>
<td colspan="1" width="19" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="75" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">38,127,200</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">On June 16, 2008, the last reported sale price of a Common Share of the Trust's Common Shares on the NYSE was $5.83. The Trust's NAV on June 16, 2008 was $6.52. See "Transaction Policies &#151; Net Asset Value." On June 16, 2008 the last reported sale price of a share of the Trust's Common Shares on the NYSE ($5.83) represented a (10.58%) discount below the NAV ($6.52) as of that date.</font></p>



<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's Common Shares have traded in the market above, at, and below NAV since March 9, 1992, when the Trust's Common Shares were listed on the NYSE. The Trust cannot predict whether its Common Shares will trade in the future at a premium or discount to NAV, and if so, the level of such premium or discount. Shares of closed-end investment companies frequently trade at a discount from NAV.</font></p>

<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Trading and NAV Information<br>12</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=15,FOLIO='12',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">INVESTMENT OBJECTIVE AND POLICIES</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Investment Objective</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's investment objective is to provide investors with as high a level of current income as is consistent with the preservation of capital. The Trust seeks to achieve this investment objective by investing in the types of assets described below:</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>1.&nbsp;&nbsp;Senior Loans</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1">. Under normal circumstances, at least 80% of the Trust's net assets, plus the amount of any borrowings for investment purposes, will be invested in Senior Loans. This investment policy may be changed without shareholder approval so long as the Trust provides its shareholders with at least 60 days' prior notice of any changes in this investment policy. Under normal circumstances, the Trust invests at least 80% of its assets in Senior Loans made to corporations or other business entities organized under U.S. or Canadian law and that are domiciled in the United States and in U.S. territories and possessions or Canada.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Senior Loans in which the Trust invests either hold the most senior position in the capital structure of the borrower or hold an equal ranking with other senior debt or have characteristics (such as a senior position secured by liens on a borrower's assets) that the Adviser or Sub-Adviser believes justify treatment as senior debt. These Senior Loans are typically below investment grade credit quality.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust typically makes its investments in Senior Loans by purchasing a portion of the overall loan, </font><font face="Times New Roman PS, Times New Roman, Times" size="1"><i>i.e.,</i></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> the Trust becomes one of a number of lenders investing in the loan. The Trust may also make its investments in Senior Loans through the use of derivative instruments such as participations, credit-linked notes, credit default swaps and total return swaps as long as the reference obligation for any such instrument is a Senior Loan. Investments through the use of such derivative instruments involve counterparty risk, </font><font face="Times New Roman PS, Times New Roman, Times" size="1"><i>i.e.,</i></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> the risk that the party from which such instrument is purchased will not perform as agreed. The Trust seek
s to minimize such counterparty risk by purchasing such investments only from large, well established and highly rated counter-parties.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2.&nbsp;&nbsp;Other Investments.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> Under normal circumstances, the Trust may invest up to 20% of its total assets, measured at the time of investment, in a combination of one or more of the following types of investments ("Other Investments"):</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;loans to borrowers organized outside the United States and U.S. territories and possessions or Canada;</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;unsecured floating rate loans, notes and other debt instruments;</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;floating rate subordinated loans;</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;tranches of floating rate asset-backed securities, including structured notes;</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;short-term debt securities; and</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;equity securities incidental to investments in loans.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>3.&nbsp;&nbsp;Cash and Short-Term Instruments.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> Under normal circumstances, the Trust may invest in cash and/or short-term instruments. During periods when, in the opinion of the Adviser or Sub-Adviser, a temporary defensive posture in the market is appropriate, the Trust may hold up to 100% of its assets in cash and/or short-term instruments.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>4.&nbsp;&nbsp;Other Investment Strategies.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> The Trust may lend its portfolio securities, on a short-term or long-term basis, in an amount equal to up to 33</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>1</sup></font><font face="Times New Roman PS, Times New Roman, Times" size="1">/</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sub>3</sub></font><font face="Times New Roman PS, Times New Roman, Times" size="1">% of its total assets.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Fundamental Diversification Policies</b></font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>1.&nbsp;&nbsp;Industry Diversification.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> The Trust may invest in any industry. The Trust may not invest more than 25% of its total assets, measured at the time of investment, in any single industry.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2.&nbsp;&nbsp;Borrower Diversification.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> As a diversified investment company, the Trust may not make investments in any one issuer (other than the U.S. government) if, immediately after such purchase or acquisition, more than 5% of the value of the Trust's total assets would be invested in such issuer, or the Trust would own more than 25% of any outstanding issue. The Trust will consider the borrower on a loan, including a loan participation, to be the issuer of such loan. With</font><font size="1"> </font><font face="Times New Roman PS, Times New Roman, Times" size="1">respect to no more than 25% of its total assets, the Trust may make investments that are not subject to the foregoing restrictions.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">These fundamental diversification policies may only be changed with approval by a majority of all shareholders, including the vote of a majority of the holders of Preferred Shares, and holders of any other preferred shares, voting separately as a class.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Investment Policies</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Adviser and Sub-Adviser follow certain investment policies set by the Trust's Board. Some of those policies are set forth below. Please refer to the SAI for additional information on these and other investment policies.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>1.&nbsp;&nbsp;Limitations on Currencies.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> The Trust's investments must be denominated in U.S. dollars, provided that the Trust may invest up to 15% of its total assets in investments denominated in the OECD currencies (including the Euro), other than the U.S. dollar. The Trust will engage in currency exchange transactions to seek to hedge, as closely as practicable, 100% of the economic impact to the Trust arising from foreign currency fluctuations.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>2.&nbsp;&nbsp;Maturity.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> Although the Trust has no restrictions on portfolio maturity, under </font></p>
<p><img src="j08110324_ca003.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Investment Objective and Policies<br>13</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=16,FOLIO='13',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">INVESTMENT OBJECTIVE AND POLICIES</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">normal circumstances, at least 80% of the Trust's total assets will be invested in assets with remaining maturities of one to ten years. The maximum maturity on any loan in which the Trust can invest is ten years.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>3.&nbsp;&nbsp;Limitations on Other Investments.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> The Trust may also invest up to 20% of its total assets, measured at the time of investment, in Other Investments. The following additional limitations apply to Other Investments:</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>a.&nbsp;&nbsp;Unsecured Debt Instruments.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> The Trust may not invest in unsecured floating rate loans, notes and other debt instruments in an aggregate amount that exceeds 20% of the Trust's total assets, measured at the time of investment.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>b.&nbsp;&nbsp;Equities.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> The Trust may acquire equity securities only as an incident to the purchase or ownership of a loan or in connection with a reorganization of a borrower or its debt.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>c.&nbsp;&nbsp;Subordinated Loans.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> The Trust may not invest in floating rate subordinated loans, whether or not secured, in an aggregated amount that exceeds 5% of its total assets, measured at the time of investment.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>4.&nbsp;&nbsp;Investment Quality; Credit Analysis.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> Loans in which the Trust invests generally are rated below investment grade credit quality or are unrated. In acquiring a loan, the Adviser or Sub-Adviser will consider some or all of the following factors concerning the borrower: ability to service debt from internally generated funds; adequacy of liquidity and working capital; appropriateness of capital structure; leverage consistent with industry norms; historical experience of achieving business and financial projections; the quality and experience of management; and adequacy of collateral coverage. The Adviser or Sub-Adviser performs its own independent credit analysis of each borrower. In so doing, the Adviser or Sub-Adviser may utilize information and credit analyses from agents that originate or administer loans, other lenders investing in a l
oan, and other sources. The Adviser or Sub-Adviser also may communicate directly with management of the borrowers. These analyses continue on a periodic basis for any Senior Loan held by the Trust. See "Risk Factors and Special Considerations &#151; Credit Risk on Senior Loans."</font></p>



<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>5.&nbsp;&nbsp;Use of Leverage.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> The Trust may borrow money and issue preferred shares to the fullest extent permitted by the 1940 Act. See "Policy on Borrowing" and "Policy on Issuance of Preferred Shares" below.</font></p>



<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>6.&nbsp;&nbsp;Short-term Instruments</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1">. Short-term instruments in which the Trust invests may include (i) commercial paper rated A-1 by Standard and Poor's Rating Services ("S&amp;P") or P-1 by Moody's Investors Service, Inc. ("Moody's"), or of comparable quality as determined by the Adviser or Sub-Adviser, (ii) certificates of deposit, banker's acceptances, and other bank deposits and obligations, and (iii) securities issued or guaranteed by the U.S. government, its agencies or instrumentalities.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Policy on Borrowing</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust has a policy of borrowing for investment purposes. The Trust seeks to use proceeds from borrowing to acquire loans and other investments which pay interest at a rate higher than the rate the Trust pays on borrowings. Accordingly, borrowing has the potential to increase the Trust's total income available to holders of its Common Shares.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust may issue notes, commercial paper, or other evidences of indebtedness and may be required to secure repayment by mortgaging, pledging, or otherwise granting a security interest in the Trust's assets. The terms of any such borrowings are subject to the provisions of the 1940 Act, and also subject to the more restrictive terms of the credit agreements relating to borrowings and additional guidelines imposed by rating agencies which are more restrictive than the provisions of the 1940 Act. The Trust is permitted to borrow an amount equal to up to 33</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>1</sup></font><font face="Times New Roman PS, Times New Roman, Times" size="1">/</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sub>3</sub></font><font face="Times New Roman PS, Times New Roman, Times" size="1">%, or such other percentage permitted by law, of its total assets (
including the amount borrowed) less all liabilities other than borrowings. See "Risk Factors and Special Considerations &#151; Leverage" and "Risk Factors and Special Considerations &#151; Restrictive Covenants and 1940 Act Restrictions."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Policy on Issuance of Preferred Shares</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust has a policy of issuing preferred shares for investment purposes. The Trust seeks to use the proceeds from preferred shares to acquire loans and other investments which pay interest at a rate higher than the dividends payable on preferred shares. The terms of the issuance of preferred shares are subject to the 1940 Act and to additional guidelines imposed by rating agencies, which are more restrictive than the provisions of the 1940 Act. Under the 1940 Act, the Trust may issue preferred shares so long as immediately after any issuance of preferred shares the value of the Trust's total assets (less all Trust liabilities and indebtedness that is not senior indebtedness) is at least twice the amount of the Trust's senior indebtedness plus the involuntary liquidation preference of all outstanding shares. In November 2000, the Trust issued 18,000 Preferred Shares for a total of $450 million. See "Risk Factors and Special Co
nsiderations &#151; Leverage."</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Investment Objective and Policies<br>14</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=17,FOLIO='14',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">THE TRUST'S INVESTMENTS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">As stated above under "Investment Objective and Policies", the Trust will invest primarily in Senior Loans. This section contains a discussion of the characteristics of Senior Loans and the manner in which those investments are made.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Senior Loan Characteristics</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Senior Loans are loans that are typically made to business borrowers to finance leveraged buy-outs, recapitalizations, mergers, stock repurchases and internal growth. Senior Loans generally hold the most senior position in the capital structure of a borrower and are usually secured by liens on the assets of the borrowers, including tangible assets such as cash, accounts receivable, inventory, property, plant and equipment, common and/or preferred stock of subsidiaries, and intangible assets including trademarks, copyrights, patent rights and franchise value. The Trust may also receive guarantees as a form of collateral.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Senior Loans are typically structured to include two or more types of loans within a single credit agreement. The most common structure is to have a revolving loan and a term loan. A revolving loan is a loan that can be drawn upon, repaid fully or partially, and then the repaid portions can be drawn upon again. A term loan is a loan that is fully drawn upon immediately and once repaid it cannot be drawn upon again. Sometimes there may be two or more term loans, and they may be secured by different collateral and have different repayment schedules and maturity dates. In addition to revolving loans and term loans, Senior Loan structures can also contain facilities for the issuance of letters of credit, and may contain mechanisms for lenders to pre-fund letters of credit through credit-linked deposits.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust typically invests only in the term loan portions of Senior Loan structures, although it does sometimes invest in the revolving loan portions and the pre-funded letters of credit portions.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">By virtue of their senior position and collateral, Senior Loans typically provide lenders with the first right to cash flows or proceeds from the sale of a borrower's collateral if the borrower becomes insolvent (subject to the limitations of bankruptcy law, which may provide higher priority to certain claims such as, for example, employee salaries, employee pensions and taxes). This means Senior Loans are generally repaid before unsecured bank loans, corporate bonds, subordinated debt, trade creditors, and preferred or common stockholders.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Senior Loans typically pay interest at least quarterly at rates which equal a fixed percentage spread over a base rate such as LIBOR. For example, if the London Inter-Bank Offered Rate ("LIBOR") were 3% and the borrower were paying a fixed spread of 2.50%, the total interest rate paid by the borrower would be 5.50%. Base rates and, therefore, the total rates paid on Senior Loans float, </font><font face="Times New Roman PS, Times New Roman, Times" size="1"><i>i.e.,</i></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> they change as market rates of interest change.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Although a base rate such as LIBOR can change every day, loan agreements for Senior Loans typically allow the borrower the ability to choose how often the base rate for its loan will change. A single loan may have multiple reset periods at the same time, with each reset period applicable to a designated portion of the loan. Such periods can range from one day to one year, with most borrowers choosing monthly or quarterly reset periods. During periods of rising interest rates, borrowers will tend to choose longer reset periods, and during periods of declining interest rates, borrowers will tend to choose shorter reset periods. The fixed spread over the base rate on a Senior Loan typically does not change.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Senior Loans generally are arranged through private negotiations between a borrower and several financial institutions represented by an agent who is usually one of the originating lenders. In larger transactions, it is common to have several agents; however, generally only one such agent has primary responsibility for ongoing administration of a Senior Loan. Agents are typically paid fees by the borrower for their services. The agent is primarily responsible for negotiating the loan agreement which establishes the terms and conditions of the Senior Loan and the rights of the borrower and the lenders. The agent also is responsible for monitoring collateral and for exercising remedies available to the lenders such as foreclosure upon collateral.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Loan agreements may provide for the termination of the agent's agency status in the event that it fails to act as required under the relevant loan agreement, becomes insolvent, enters Federal Deposit Insurance Corporation ("FDIC") receivership or, if not FDIC insured, enters into bankruptcy. Should such an agent, lender or assignor with respect to an assignment interpositioned between the Trust and the borrower become insolvent or enter FDIC receivership or bankruptcy, any interest in the Senior Loan of such person and any loan payment held by such person for the benefit of the Trust should not be included in such person's or entity's bankruptcy estate. If, however, any such amount were included in such person's or entity's bankruptcy estate, the Trust would incur certain costs and delays in realizing payment or could suffer a loss of principal or interest. In this event, the Trust could experience a decrease in the NAV.</font><
/p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust acquires Senior Loans from lenders such as commercial and investment banks, insurance companies, finance companies, other investment companies and private investment funds.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Investment by the Trust</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust typically invests in Senior Loans primarily by purchasing an assignment of a portion of a Senior Loan from a third-party, either in connection with the original loan transaction (</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><i>i.e.,</i></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> in the </font></p>
<p><img src="j08110324_ca004.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">The Trust's Investments<br>15</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=18,FOLIO='15',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">THE TRUST'S INVESTMENTS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">primary market) or after the initial loan transaction (</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><i>i.e.,</i></font><font size="1"> </font><font face="Times New Roman PS, Times New Roman, Times" size="1">in the secondary market). When the Trust purchases a Senior Loan in the primary market, it may share in a fee paid to the original lender. When the Trust purchases a Senior Loan in the secondary market, it may pay a fee to, or forego a portion of interest payments from, the lender making the assignment. The Trust may also make its investments in Senior Loans through the use of derivative instruments such as participations, credit-linked notes, credit default swaps and total return swaps as long as the reference obligation for any such instrument is a Senior Loan. Investments through the use of such derivative instruments involve counter party risk, </font><font face="Times New Roman PS, Times New Ro
man, Times" size="1"><i>i.e.,</i></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> the risk that the party from which such instrument is purchased will not perform as agreed. Unlike an assignment, as described below, the Trust does not have a direct contractual relationship with the borrower. The Trust seeks to minimize such counter party risk by purchasing such investments only from large, well established and highly rated counter parties.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Except for rating agency guidelines imposed on the Trust's portfolio while it has outstanding Preferred Shares, there is no minimum rating or other independent evaluation of a borrower limiting the Trust's investments and most Senior Loans that the Trust may acquire, if rated, will be rated below investment grade credit quality. See "Risk Factors and Special Considerations &#151; Credit Risk on Senior Loans."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Assignments.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> When the Trust is a purchaser of an assignment, it succeeds to all the rights and obligations under the loan agreement of the assigning lender and becomes a lender under the loan agreement with the same rights and obligations as the assigning lender. These rights include the ability to vote along with the other lenders on such matters as enforcing the terms of the loan agreement, (</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><i>e.g.</i></font><font face="Times New Roman PS, Times New Roman, Times" size="1">, declaring defaults, initiating collection action, </font><font face="Times New Roman PS, Times New Roman, Times" size="1"><i>etc.</i></font><font face="Times New Roman PS, Times New Roman, Times" size="1">). Taking such actions usually requires at least a vote of the lenders holding a majority of the investm
ent in the loan, and may require a vote by lenders holding two-thirds or more of the investment in the loan. Because the Trust typically does not hold a majority of the investment in any loan, it will not be able by itself to control decisions that require a vote by the lenders.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Acquisition Costs</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1">. When the Trust acquires an interest in a Senior Loan in the primary market, it typically acquires the loan at par less its portion of the fee paid to all originating lenders. When the Trust acquires an interest in a Senior Loan, in the secondary market, it may be at par, but typically the Trust will do so at premium or discount to par.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">The Trust's Investments<br>16</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=19,FOLIO='16',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">RISK FACTORS AND SPECIAL CONSIDERATIONS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Risk is inherent in all investing. The following discussion summarizes some of the risks that you should consider before deciding whether to invest in the Trust. For additional information about the risks associated with investing in the Trust, see "Additional Information About Investments and Investment Techniques" in the SAI.</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Credit Risk on Senior Loans</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's ability to pay dividends and repurchase its Common Shares is dependent upon the performance of the assets in its portfolio. That performance, in turn, is subject to a number of risks, chief among which is credit risk on the underlying assets.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Credit risk is the risk of nonpayment of scheduled interest or principal payments. In the event a borrower fails to pay scheduled interest or principal payments on a Senior Loan held by the Trust, the Trust will experience a reduction in its income and a decline in the market value of the Senior Loan, which will likely reduce dividends and lead to a decline in the NAV of the Trust's Common Shares. See "The Trust's Investments &#151; Investment by the Trust."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Senior Loans generally involve less risk than unsecured or subordinated debt and equity instruments of the same issuer because the payment of principal and interest on Senior Loans is a contractual obligation of the issuer that, in most instances, takes precedence over the payment of dividends, or the return of capital, to the issuer's shareholders and payments to bond holders. The Trust generally invests in Senior Loans that are secured with specific collateral. However, the value of the collateral may not equal the Trust's investment when the loan is acquired or may decline below the principal amount of the Senior Loan subsequent to the Trust's investment. Also, to the extent that collateral consists of stock of the borrower or its subsidiaries or affiliates, the Trust bears the risk that the stock may decline in value, be relatively illiquid, or may lose all or substantially all of its value, causing the Senior Loan to be und
ercollateralized. Therefore, the liquidation of the collateral underlying a Senior Loan may not satisfy the issuer's obligation to the Trust in the event of non-payment of scheduled interest or principal, and the collateral may not be readily liquidated.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">In the event of the bankruptcy of a borrower, the Trust could experience delays and limitations on its ability to realize the benefits of the collateral securing the Senior Loan. Among the credit risks involved in a bankruptcy are assertions that the pledge of collateral to secure a loan constitutes a fraudulent conveyance or preferential transfer that would have the effect of nullifying or subordinating the Trust's rights to the collateral.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Senior Loans in which the Trust invests are generally rated lower than investment grade credit quality, </font><font face="Times New Roman PS, Times New Roman, Times" size="1"><i>i.e.,</i></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> rated lower than "Baa" by Moody's or "BBB" by S&amp;P, or have been issued by issuers who have issued other debt securities which, if unrated, would be rated lower than investment grade credit quality. Investment decisions will be based largely on the credit analysis performed by the Adviser or Sub-Adviser, and not on rating agency evaluation. This analysis may be difficult to perform. Information about a Senior Loan and its issuer generally is not in the public domain. Moreover, Senior Loans are not often rated by any nationally recognized rating service. Many issuers have not issued securities to the public and are not subject to reporting requirements under federal 
securities laws. Generally, however, issuers are required to provide financial information to lenders and information may be available from other Senior Loan participants or agents that originate or administer Senior Loans.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Interest Rate Risk</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">During normal market conditions, changes in market interest rates will affect the Trust in certain ways. The principal effect will be that the yield on the Trust's Common Shares will tend to rise or fall as market interest rates rise and fall. This is because almost all of the assets in which the Trust invests pay interest at rates which float in response to changes in market rates. However, because the interest rates on the Trust's assets reset over time, there will be an imperfect correlation between changes in market rates and changes to rates on the portfolio as a whole. This means that changes to the rate of interest paid on the portfolio as a whole will tend to lag behind changes in market rates.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Market interest rate changes may also cause the Trust's NAV to experience moderate volatility. This is because the value of a loan asset in the Trust is partially a function of whether it is paying what the market perceives to be a market rate of interest for the particular loan, given its individual credit and other characteristics. If market interest rates change, a loan's value could be affected to the extent the interest rate paid on that loan does not reset at the same time. As discussed above, the rates of interest paid on the loans in which the Trust invests have a weighted average reset period that typically is less than 90 days. Therefore, the impact of the lag between a change in market interest rates and the change in the overall rate on the portfolio is expected to be minimal.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">To the extent that changes in market rates of interest are reflected not in a change to a base rate such as LIBOR but in a change in the spread over the base rate which is payable on loans of the type and quality in which the Trust invests, the Trust's NAV could also be adversely affected. This is because the value of a loan asset in the Trust is partially a function of whether it is paying what the market perceives to be a market rate of interest for the particular loan, given its individual credit and other characteristics. However, unlike changes in market rates of interest for which there is only a temporary lag before the portfolio reflects those changes, changes in a loan's value based on changes in the market spread on loans in the Trust's portfolio may be of longer duration.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Finally, substantial increases in interest rates may cause an increase in loan defaults as borrowers may lack the resources to meet higher debt service requirements.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Changes to NAV</b></font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The NAV of the Trust is expected to change in response to a variety of factors, primarily in response to changes in the creditworthiness of the borrowers on the loans in which the Trust invests. See "Risk Factors and Special Considerations &#151; Credit Risk on Senior Loans" above. Changes in market interest rates may also have an impact on the Trust's NAV. See "Risk Factors and Special Considerations &#151; Interest Rate Risk." Another factor which can affect the Trust's NAV is changes in the pricing obtained for the Trust's assets. See "Transaction </font></p>
<p><img src="j08110324_ca005.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Risk Factors and Special Considerations<br>17</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=20,FOLIO='17',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">RISK FACTORS AND SPECIAL CONSIDERATIONS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Policies &#151; Valuation of the Trust's Assets."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Discount From NAV</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's Common Shares have traded in the market above, at, and below NAV since March 9, 1992, when the Trust's shares were initially listed on the NYSE. The reasons for the Trust's Common Shares trading at a premium to or discount from NAV are not known to the Trust, and the Trust cannot predict whether its Common Shares will trade in the future at a premium to or discount from NAV, and if so, the level of such premium or discount. Shares of closed-end investment companies frequently trade at a discount from NAV. The possibility that Common Shares of the Trust will trade at a discount from NAV is a risk separate and distinct from the risk that the Trust's NAV may decrease.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Leverage</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust may borrow an amount equal to up to 33</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>1</sup></font><font face="Times New Roman PS, Times New Roman, Times" size="1">/</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sub>3</sub></font><font face="Times New Roman PS, Times New Roman, Times" size="1">% (or such other percentage permitted by law) of its total assets (including the amount borrowed) less all liabilities other than borrowings. Under the 1940 Act, the Trust may issue preferred shares so long as immediately after any issuance of preferred shares the value of the Trust's total assets (less all Trust liabilities and indebtedness that is not senior indebtedness) is at least twice the amount of the Trust's senior indebtedness plus the involuntary liquidation preference of all outstanding shares. In November 2000, the Trust issued 18,000 Preferred Shares for a tota
l of $450 million. Borrowings and the issuance of preferred shares are referred to in this Prospectus collectively as "leverage." The Trust may use leverage for investment purposes, to finance the repurchase of its Common Shares, and to meet other cash requirements. The use of leverage for investment purposes increases both investment opportunity and investment risk.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Capital raised through leverage will be subject to interest and other costs, and these costs could exceed the income earned by the Trust on the proceeds of such leverage. There can be no assurance that the Trust's income from the proceeds of leverage will exceed these costs. However, the Adviser or Sub-Adviser seeks to use leverage for the purposes of making additional investments only if they believe, at the time of using leverage, that the total return on the assets purchased with such funds will exceed interest payments and other costs on the leverage.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">To the extent that the Trust is unable to invest the proceeds from the use of leverage in assets which pay interest at a rate which exceeds the rate paid on the leverage, the yield on the Trust's Common Shares will decrease. In addition, in the event of a general market decline in the value of assets such as those in which the Trust invests, the effect of that decline will be magnified in the Trust because of the additional assets purchased with the proceeds of the leverage. The Trust's lenders and Preferred shareholders have priority to the Trust's assets over the Trust's Common shareholders.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust currently uses leverage by borrowing money on a floating rate basis and by the issuance of Preferred Shares. The current rate on the borrowings (as of June 16, 2008) is 3.16%. The current dividend rate on the Preferred Shares (as of June 16, 2008) is 3.08%. </font></p>



<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Since early February 2008, the Trust has not received hold orders and purchase requests for its Preferred Shares during their weekly auctions that equaled the full amount of such shares. As a result, under the terms of the Preferred Shares, the amount sold by each selling shareholder was reduced pro rata or to zero. In addition, the dividend rate on such preferred shares, which is normally set by means of a Dutch auction procedure, automatically reset to the maximum rate permitted under the Preferred Shares program. That maximum rate is 150% of the applicable commercial paper base rate on the day of the auction. It is unclear whether the dividend rate for the Preferred Shares will be set by means of an auction again in the future. On June 9, 2008, the Trust announced the approval by the Board of Trustees of a partial redemption of its outstanding Preferred Shares. The Trust expects to redeem approximately $225 million of the $45
0 million of its outstanding Preferred Shares. The Preferred Shares are expected to be redeemed using proceeds available through the Trust's existing bank loan facility. Redemption costs and the on-going costs of obtaining leverage through a bank loan facility may reduce returns to Common Shares and may be higher than the costs of leverage obtained through the Preferred Shares.  The Trust and the Board of Trustees will continue to closely monitor the situation and evaluate potential options to restore liquidity to and/or provide additional refinancing options for this market in the context of regulatory guidelines, as well as the economic and tax implications for both its Common and Preferred shareholders. To cover the annual interest and dividends on the borrowings and the Preferred Shares for the current fiscal year (assuming that the current interest and dividend rates remain in effect for the entire fiscal year and assuming that the Trust borrows an amount equal to 25% of its Managed Assets and the curre
nt Preferred Shares remain outstanding), the Trust would need to earn 1.58% on its amount of Managed Assets as of June 16, 2008.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's leveraged capital structure creates special risks not associated with unleveraged funds having similar investment objectives and policies. The funds borrowed pursuant to the credit facilities or obtained through the issuance of Preferred Shares, or any other preferred shares, may constitute a substantial lien and burden by reason of their prior claim against the income of the Trust and against the net assets of the Trust in liquidation.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust is not permitted to declare dividends or other distributions, including dividends and distributions with respect to Common Shares or Preferred Shares, or to purchase Common Shares or, Preferred Shares unless (i) at the time thereof the Trust meets certain asset coverage requirements and (ii) there is no event of default under any credit facility program that is continuing. See "Risk Factors and Special Considerations &#151; Restrictive Covenants and 1940 Act Restrictions" below. In the event of a default under a credit facility program, the lenders have the right to cause a liquidation of the collateral (</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><i>i.e.,</i></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> sell Senior Loans and other assets of the Trust) and, if any such default is not cured, the lenders may be able to control the liquidation as well.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">In addition, the Trust is not permitted to pay dividends on or redeem Common Shares unless all accrued dividends on the Preferred Shares and all accrued interest on borrowings have been paid or set aside for payment.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Because the fee paid to the Adviser will be calculated on the basis of Managed Assets, the fee will be higher when leverage is utilized, giving the Adviser an incentive to utilize leverage.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust is subject to certain restrictions imposed by lenders to the Trust and by guidelines of one or more rating agencies which issue ratings for the Preferred Shares issued by the Trust. These restrictions impose asset coverage, fund composition requirements and limits on investment techniques, such as the use of financial derivative products, that are more stringent than those imposed on the Trust by the 1940 Act. These covenants or guidelines could impede the Adviser or Sub-Adviser from fully managing the Trust's portfolio in accordance with the Trust's investment objective and policies.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Risk Factors and Special Considerations<br>18</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=21,FOLIO='18',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">RISK FACTORS AND SPECIAL CONSIDERATIONS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Annual Expenses Without Borrowings or Preferred Shares</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">If the Trust were not to have borrowed or have Preferred Shares outstanding, the remaining expenses, as a percentage of the net assets of the Trust, would be as follows:</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="7" width="369" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Annual Expenses Without Borrowings or Preferred Shares</b></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="7" width="369" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>(as a percentage of net assets attributable to Common Shares)</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="283" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Management and Administrative Fees<sup>(1)</sup></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="42" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.05</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="283" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Other Operating Expenses<sup>(2)</sup></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="19" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="42" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0.31</font>

</td>
<td colspan="1" width="25" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="283" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Total Annual Expenses</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="19" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="42" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">1.36</font>

</td>
<td colspan="1" width="25" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(1)&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Investment Advisory Agreement with the Trust, ING Investments is paid a fee of 0.80% of the Trust's Managed Assets. Pursuant to its Administration Agreement with the Trust, the Trust's Administrator is paid a fee of 0.25% of the Trust's Managed Assets. See "Investment Adviser and Other Service Providers &#151; The Administrator."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(2)&nbsp;&nbsp;&nbsp;&nbsp;Other Operating Expenses are based on estimated amounts for the current fiscal year, which, in turn, are based on other operating expenses for the fiscal year ended February 29, 2008, and does not include the expenses of borrowing.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Effect of Leverage</b></font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The following table is designed to illustrate the effect on return to a holder of the Trust's Common Shares of the leverage created by the Trust's use of borrowing, using the annual interest rate of 5.75%, assuming the Trust has used leverage by borrowing an amount equal to 25% of the Trust's Managed Assets and assuming hypothetical annual returns on the Trust's portfolio of minus 10% to plus 10%. As can be seen, leverage generally increases the return to shareholders when portfolio return is positive and decreases return when the portfolio return is negative. Actual returns may be greater or less than those appearing in the table.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="178" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Assumed Portfolio Return, net of<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">expenses<sup>(1)</sup></font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(10</font>

</td>
<td colspan="1" width="33" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)% </font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(5</font>

</td>
<td colspan="1" width="30" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">0</font>

</td>
<td colspan="1" width="30" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">5</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">10</font>

</td>
<td colspan="1" width="27" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">%</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="178" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Corresponding Return to Common<BR></font><font face="Times New Roman PS, Times New Roman, Times" size="2">Shareholders<sup>(2)</sup></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="46" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(15.25</font>

</td>
<td colspan="1" width="33" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(8.58</font>

</td>
<td colspan="1" width="30" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="40" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">(1.92</font>

</td>
<td colspan="1" width="30" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">)%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">4.75</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="43" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">11.42</font>

</td>
<td colspan="1" width="27" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="2">%</font>

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(1)&nbsp;&nbsp;&nbsp;&nbsp;The Assumed Portfolio Return is required by regulation of the SEC and is not a prediction of, and does not represent, the projected or actual performance of the Trust.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">(2)&nbsp;&nbsp;&nbsp;&nbsp;In order to compute the Corresponding Return to Common Shareholders, the Assumed Portfolio Return is multiplied by the total value of the Trust's assets at the beginning of the Trust's fiscal year to obtain an assumed return to the Trust. From this amount, all interest accrued during the year is subtracted to determine the return available to shareholders. The return available to shareholders is then divided by the total value of the Trust's net assets attributable to Common Shares as of the beginning of the fiscal year to determine the Corresponding Return to Common Shareholders.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Impact of Shareholder Investment Program and Privately Negotiated Transactions</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The issuance of Common Shares through the Trust's Shareholder Investment Program may have an adverse effect on the secondary market for the Trust's Common Shares. The increase in the number of the Trust's outstanding Common Shares resulting from issuances pursuant to the Trust's Shareholder Investment Program or pursuant to privately negotiated transactions, and the discount to the market price at which such Common Shares may be issued, may put downward pressure on the market price for Common Shares of the Trust. Common Shares will not be issued pursuant to the Trust's Shareholder Investment Program at any time when Common Shares are trading at a price lower than the Trust's NAV per Common</font><font size="1"> </font><font face="Times New Roman PS, Times New Roman, Times" size="1">Share. </font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Limited Secondary Market for Loans</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Although the resale, or secondary, market for loans has grown substantially over the past decade, both in overall size and number of market participants, there is no organized exchange or board of trade on which loans are traded. Instead, the secondary market for loans is a private, unregulated inter-dealer or inter-bank re-sale market.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Loans usually trade in large denominations (typically in $1 million or larger) and trades can be infrequent. The market has limited transparency so that information about actual trades may be difficult to obtain. Accordingly, some or many of the loans in which the Trust invests will be relatively illiquid.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">In addition, loans in which the Trust invests may require the consent of the borrower and/or the agent prior to sale or assignment. These consent requirements can delay or impede the Trust's ability to sell loans and can adversely affect the price that can be obtained. The Trust may have difficulty disposing of loans if it needs cash to repay debt, to pay dividends, to pay expenses or to take advantage of new investment opportunities. Although the Trust has not conducted a tender offer since 1992, if it determines to again conduct a tender offer, limitations of a secondary market may result in difficulty raising cash to purchase tendered Common Shares.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">These considerations may cause the Trust to sell securities at lower prices than </font></p>
<p><img src="j08110324_ca006.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Risk Factors and Special Considerations<br>19</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=22,FOLIO='19',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">RISK FACTORS AND SPECIAL CONSIDERATIONS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">it would otherwise consider to meet cash needs or cause the Trust to maintain a greater portion of its assets in cash equivalents than it would otherwise, which could negatively impact performance. The Trust seeks to avoid the necessity of selling assets to meet such needs by the use of borrowings.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust values its assets daily. However, because the secondary market for loans is limited, it may be difficult to value loans. Reliable market value quotations may not be readily available for some loans and valuation of such loans may require more research than for liquid securities. In addition, elements of judgment may play a greater role in valuation of loans than for securities with a more developed secondary market, because there is less reliable, objective market value data available. In addition, if the Trust purchases a relatively large portion of a loan to generate extra income sometimes paid to large lenders, the limitations of the secondary market may inhibit the Trust from selling a portion of the loan and reducing its exposure to a borrower when the Adviser or Sub-Adviser deems it advisable to do so.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Lending Portfolio Securities</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">To generate additional income, the Trust may lend portfolio securities in an amount equal to up to 33</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sup>1</sup></font><font face="Times New Roman PS, Times New Roman, Times" size="1">/</font><font face="Times New Roman PS, Times New Roman, Times" size="1"><sub>3</sub></font><font face="Times New Roman PS, Times New Roman, Times" size="1">% of the Trust's total assets to broker-dealers, major banks, or other recognized domestic institutional borrowers of securities. As with other extensions of credit, there are risks of delay in recovery or even loss of rights in the collateral should the borrower default or fail financially. The Trust intends to engage in lending portfolio securities only when such lending is fully secured by investment grade collateral held by an independent agent.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Demand for Loans</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">At times during recent years, the volume of loans has increased. However, during such periods, demand for loans has also grown. An increase in demand may benefit the Trust by providing increased liquidity for loans and higher sales prices, but it may also adversely affect the rate of interest payable on loans acquired by the Trust, the rights provided to the Trust under the terms of a loan agreement, and increase the price of loans that the Trust wishes to purchase in the secondary market. A decrease in the demand for loans may adversely affect the price of loans in the Trust's portfolio, which could cause the Trust's NAV to decline.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Unsecured Debt Instruments and Subordinated Loans</b></font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Subject to the aggregate 20% limit on Other Investments, the Trust may invest up to 20% of its total assets in unsecured floating rate loans, notes and other debt instruments and 5% of its total assets in floating rate subordinated loans. Unsecured loans and subordinated loans share the same credit risks as those discussed above under "Credit Risk on Senior Loans" except that unsecured loans are not secured by any collateral of the borrower and subordinated loans are not the most senior debt in a borrower's capital structure. Unsecured loans do not enjoy the security associated with collateralization and may pose a greater risk of nonpayment of interest or loss of principal than do secured loans. The primary additional risk in a subordinated loan is the potential loss in the event of default by the issuer of the loan. Subordinated loans in an insolvency bear an increased share, relative to senior secured lenders, of the ultimate
 risk that the borrower's assets are insufficient to meet its obligations to its creditors.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Short-Term Debt Securities</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Subject to the aggregate 20% limit on Other Investments, the Trust may invest in short-term debt securities. Short-term debt securities are subject to the risk of the issuer's inability to meet principal and interest payments on the obligation and also may be subject to price volatility due to such factors as interest rates, market perception of the creditworthiness of the issuer and general market liquidity. Because short-term debt securities typically pay interest at a fixed-rate, when interest rates decline, the value of the Trust's short-term debt securities can be expected to rise, and when interest rates rise, the value of those securities can be expected to decline.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Pre Payment or Call Risk</b></font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">During periods of declining interest rates, the issuer of a security may exercise its option to prepay principal earlier than scheduled, forcing the Fund to reinvest in lower yielding securities. This is known as call or prepayment risk. An issuer may redeem a lower-grade obligation if the issuer can refinance the debt at a lower cost due to declining interest rates or an improvement in the credit standing of the issuer.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Investment in Non-U.S. and Non-Canadian Issuers</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Subject to the aggregate 20% limit on Other Investments, the Trust may invest up to 20% of its total assets in loans, secured or unsecured, to borrowers that are organized or located in countries outside the United States and U.S. territories and possessions or Canada. Investment in non-U.S. entities involves special risks, including that non-U.S. entities may be subject to less rigorous accounting and reporting requirements than U.S. entities, less rigorous regulatory requirements, differing legal systems and laws relating to creditors' rights, the potential inability to enforce legal judgments, fluctuations in currency values and the potential for political, social and economic adversity. The Trust may invest up to 15% of its total assets in investments denominated in OECD currencies (including the Euro), other than the U.S.</font><font size="1"> </font><font face="Times New Roman PS, Times New Roman, Times" size="1">dollar.</
font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust will engage in currency exchange transactions to seek to hedge, as closely as practicable, 100% of the economic impact to the Trust arising from foreign currency fluctuations.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Investments in Equity Securities Incidental to Investment in Loans</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Subject to the aggregate 20% on Other Investments, the Trust may acquire equity securities as an incident to </font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Risk Factors and Special Considerations<br>20</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=23,FOLIO='20',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">RISK FACTORS AND SPECIAL CONSIDERATIONS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">the purchase or ownership of a loan or in connection with a reorganization of a borrower or its debt. Investments in equity securities incidental to investment in loans entail certain risks in addition to those associated with investment in loans. The value of these securities may be affected more rapidly, and to a greater extent, by company-specific developments and general market conditions. These risks may increase fluctuations in the Trust's NAV. The Trust may frequently possess material non-public information about a borrower as a result of its ownership of a loan of such borrower. Because of prohibitions on trading in securities of issuers while in possession of such information the Trust might be unable to enter into a transaction in a security of such a borrower when it would otherwise be advantageous to do so.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Borrowings under the Credit Facility Program</b></font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust has a policy of borrowing to acquire income-producing investments which, by their terms, pay interest at a rate higher than the rate the Trust pays on borrowings. Accordingly, borrowing has the potential to increase the Trust's total income. The Trust currently is a party to two credit facilities with financial institutions that permit the Trust to borrow up to an aggregate of $450 million. Interest is payable on the credit facilities by the Trust at a variable rate that is tied to either LIBOR, the federal funds rate, or a commercial paper based rate and includes a facility fee on unused commitments. As of June 16, 2008, the Trust had outstanding borrowings under the credit facilities of approximately $142 million. Collectively, the lenders under the credit facilities have a security interest in all assets of the Trust. </font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Under each of the credit facilities, the lenders have the right to liquidate Trust assets in the event of default by the Trust under such credit facility, and the Trust may be prohibited from paying dividends in the event of certain adverse events or conditions respecting the Trust or Adviser or Sub-Adviser until the credit facility is repaid in full or until the event or condition is cured.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Ranking of Senior Indebtedness</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The rights of lenders to receive payments of interest on and repayments of principal of any borrowings made by the Trust under the credit facility program are senior to the rights of holders of Common Shares and Preferred Shares with respect to the payment of dividends or upon liquidation.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Restrictive Covenants and 1940 Act Restrictions</b></font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The credit agreements governing the credit facility program ("Credit Agreements") include usual and customary covenants for their respective type of transaction, including limits on the Trust's ability to (i)</font><font size="1"> </font><font face="Times New Roman PS, Times New Roman, Times" size="1">issue preferred shares, (ii) incur liens or pledge portfolio securities, (iii) change its investment objective or fundamental investment restrictions without the approval of lenders, (iv) make changes in any of its business objectives, purposes or operations that could result in a material adverse effect, (v) make any changes in its capital structure, (vi) amend the Trust documents in a manner which could adversely affect the rights, interests or obligations of any of the lenders, (vii) engage in any business other than the businesses currently engaged in, (viii) create, incur, assume or permit to exist certain debt except for cert
ain specified types of debt, and (ix) permit any of its Employee Retirement Security Act ("ERISA") affiliates to cause or permit to occur an event that could result in the imposition of a lien under the Internal Revenue Code of 1986 or ERISA. In addition, the Credit Agreements do not permit the Trust's asset coverage ratio (as defined in the Credit Agreements) to fall below 300% at any time ("Credit Agreement Asset Coverage</font><font size="1"> </font><font face="Times New Roman PS, Times New Roman, Times" size="1">Test").</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Under the requirements of the 1940 Act, the Trust must have asset coverage of at least 300% immediately after any borrowing, including borrowing under the credit facility program. For this purpose, asset coverage means the ratio which the value of the total assets of the Trust, less liabilities and indebtedness not represented by senior securities, bears to the aggregate amount of borrowings represented by indebtedness issued by the Trust. The Credit Agreements limit the Trust's ability to pay dividends or make other distributions on the Trust's Common Shares, or purchase or redeem Common Shares, unless the Trust complies with the Credit Agreement Asset Coverage Test. In addition, the Credit Agreements do not permit the Trust to declare dividends or other distributions or purchase or redeem Common Shares or any preferred shares (i) at any time that an event of default under a Credit Agreement has occurred and is continuing; or (
ii) if, after giving effect to such declaration, the Trust would not meet the Credit Agreement Asset Coverage Test set forth in the Credit Agreements.</font></p>
<p><img src="j08110324_ca007.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Risk Factors and Special Considerations<br>21</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=24,FOLIO='21',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">TRANSACTION POLICIES</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Net Asset Value</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The NAV per Common Share of the Trust is determined each business day as of the close of regular trading ("Market Close") on the NYSE (normally 4:00 p.m. Eastern time unless otherwise designated by the NYSE). The Trust is open for business every day the NYSE is open. The NYSE is closed on all weekends and on all national holidays and Good Friday. Trust shares will not be priced on those days. The NAV per Common Share is determined by dividing the value of the Trust's loan assets plus all cash and other assets (including interest accrued but not collected) less all liabilities (including accrued expenses but excluding capital and less the liquidation preference of any outstanding preferred shares) by the number of Common Shares outstanding. The NAV per Common Share is made available for publication.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Valuation of the Trust's Assets</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The assets in the Trust's portfolio are valued daily in accordance with the Trust's Loan Valuation Procedures adopted by the Board. A majority of the Trust's assets are valued using quotations supplied by a third-party loan pricing service. However, the loans in which the Trust invests are not listed on any securities exchange or board of trade. Some loans are traded by institutional investors in an over-the-counter secondary market that has developed in the past several years. This secondary market generally has fewer trades and less liquidity than the secondary markets for other types of securities. Some loans have few or no trades. Accordingly, determinations of the value of loans may be based on infrequent and dated trades. Because there is less reliable, objective market value data available, elements of judgment may play a greater role in valuation of loans than for other types of securities. For further information, see "
Risk Factors and Special Considerations &#151; Limited Secondary Market for Loans."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Loans are normally valued at the mean of the means of one or more bid and asked quotations obtained from a pricing service or other sources believed to be reliable. Loans for which reliable market value quotations are not readily available from a pricing service may be valued with reference to another loan or a group of loans for which reliable market value quotations are readily available and whose characteristics are comparable to the loan being valued. Under this approach, the comparable loan or loans serve as a proxy for changes in value of the loan being valued. The Trust has engaged an independent pricing service to provide quotations from dealers in loans and to calculate values under this proxy procedure.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">It is expected that most of the loans held by the Trust will be valued with reference to quotations from the independent pricing service or with reference to the proxy procedure described above. The Adviser or Sub-Adviser may believe that the price for a loan derived from quotations or the proxy procedure described above is not reliable or accurate. Among other reasons, this may be the result of information about a particular loan or borrower known to the Adviser or Sub-Adviser that they believe may not be known to the pricing service or reflected in a price quote. In this event, the loan is valued at fair value under procedures established by the Board, and in accordance with the provisions of the 1940 Act.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Under these procedures, fair value is determined by the Adviser or Sub-Adviser and monitored by the Board through its Compliance Committee. In fair valuing a loan, consideration is given to several factors, which may include, among others, the following:</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;the characteristics of and fundamental analytical data relating to the loan, including the cost, size, current interest rate, period until the next interest rate reset, maturity and base lending rate of the loan, the terms and conditions of the loan and any related agreements, and the position of the loan in the borrower's debt structure;</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;the nature, adequacy and value of the collateral, including the Trust's rights, remedies and interests with respect to the collateral;</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;the creditworthiness of the borrower and the cash flow coverage of outstanding principal and interest, based on an evaluation of its financial condition, financial statements and information about the borrower's business, cash flows, capital structure and future prospects;</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;information relating to the market for the loan, including price quotations for, and trading in, the loan and interests in similar loans and the market environment and investor attitudes towards the loan and interests in similar loans;</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;the reputation and financial condition of the agent of the loan and any intermediate participants in the loans;</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;the borrower's management; and</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;the general economic and market conditions affecting the fair value of the loan.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Securities for which the primary market is a national securities exchange are stated at the last reported sale price on the day of valuation. Securities reported by NASDAQ National Market System will be valued at the NASDAQ Official Closing Price on the valuation day. Debt and equity securities traded in the over-the-counter market and listed securities for which no sale was reported on that date are valued at the mean between the last reported bid and asked price. Valuation of short term cash equivalent investments is at amortized cost. Securities maturing in 60 days or less are valued at amortized cost, which, when combined with accrued interest, approximates market value.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Account Access</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Unless your Common Shares are held through a third-party fiduciary or in an omnibus registration at your bank or brokerage firm, you may be able to access your account information over the internet at www.ingfunds.com, or via a </font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Transaction Policies<br>22</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=25,FOLIO='22',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">TRANSACTION POLICIES</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">touch tone telephone by calling (800) 992-0180 and selecting Option 1. Should you wish to speak with a Shareholder Services Representative, you may call the toll-free number listed above and select Option 2.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Privacy Policy</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust has adopted a policy concerning investor privacy. To review the privacy policy, contact a Shareholder Services Representative at (800) 992-0180 and select Option 1, obtain a policy over the internet at www.ingfunds.com, or see the privacy promise that accompanies this Prospectus.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Householding</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">To reduce expenses, we may mail only one copy of the Trust's Prospectus and each annual and semi-annual shareholder report to those addresses shared by two or more accounts. If you wish to receive individual copies of these documents, please call us at (800) 992-0180 or speak to your investment professional. We will begin sending you individual copies 30 days after receiving your request.</font></p>
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">PLAN OF DISTRIBUTION</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Shareholder Investment Program</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The following is a summary of the Shareholder Investment Program ("Program"). Shareholders are advised to review a fuller explanation of the Program contained in the Trust's SAI. </font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Common Shares are offered by the Trust through the Program. The Program allows participating shareholders to reinvest all dividends ("Dividends") in additional Common Shares of the Trust, and also allows participants to purchase additional Common Shares through optional cash investments in amounts ranging from a minimum of $100 to a maximum of $100,000 per month.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust and ING Funds Distributor reserve the right to reject any purchase order. Please note that cash, travelers checks, third-party checks, money orders and checks drawn on non-U.S. banks (even if payment may be effected through a U.S. bank) generally will not be accepted.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Common Shares will be issued by the Trust under the Program when the Trust's Common Shares are trading at a premium to NAV. If the Trust's Common Shares are trading at a discount to NAV, Common Shares issued under the Program will be purchased on the open market. Common Shares issued under the Program directly from the Trust will be acquired at the greater of (i) NAV at the close of business on the day preceding the relevant investment date or (ii) the average of the daily market price of the Common Shares during the pricing period minus a discount of 5% for reinvested Dividends and 0% to 5% for optional cash investments. Common Shares issued under the Program when shares are trading at a discount to NAV will be purchased in the market by DST at market price. Shares issued by the Trust under the Program will be issued without a fee or a commission. </font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Shareholders may elect to participate in the Program by telephoning the Trust or submitting a completed Participation Form to DST, the Program administrator. DST will credit to each participant's account funds it receives from: (a) Dividends paid on Trust shares registered in the participant's name, and (b) optional cash investments. DST will apply all Dividends and optional cash investments received to purchase Common Shares as soon as practicable beginning on the relevant investment date (as described below) and not later than six business days after the relevant investment date, except when necessary to comply with applicable provisions of the federal securities laws. For more information on the Trust's distribution policy, see "Dividends and Distributions."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">In order for participants to purchase shares through the Program in any month, the Program administrator must receive from the participant any optional cash investment by the relevant investment date. The relevant investment date will be set in advance by the Trust, upon which optional cash investments are first applied by DST to the purchase of Common Shares. Participants may obtain a schedule of relevant dates, including investments dates, the dates by which optional cash investment payments must be received and the dates which shares will be paid by calling ING's Shareholder Services Department at (800) 992-0180.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Participants will pay a pro rata share of brokerage commissions with respect to DST's open market purchases in connection with the reinvestment of Dividends or purchases made with optional cash investments.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Program is intended for the benefit of investors in the Trust. The Trust reserves the right to exclude from participation, at any time, (i) persons or entities who attempt to circumvent the Program's standard $100,000 maximum by accumulating accounts over which they have control or (ii) any other persons or entities, as determined in the sole discretion of the Trust.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Currently, persons who are not shareholders of the Trust may not participate in the Program. The Board may elect to change this policy at a future date, and permit non-shareholders to participate in the Program. Shareholders may request to receive their Dividends in cash at any time by giving DST written notice or by contacting ING's Shareholder Services Department at (800) 992-0180 and selecting Option 2. Shareholders may elect to close their account at any time by giving DST written notice. When a participant closes their account, the participant upon request will receive a certificate </font></p>
<p><img src="j08110324_ca008.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Transaction Policies<br>23</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=26,FOLIO='23',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">PLAN OF DISTRIBUTION</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">for full Common Shares in the account. Fractional Common Shares will be held and aggregated with other fractional Common Shares being liquidated by DST as agent of the Program and paid for by check when actually sold.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The automatic reinvestment of Dividends does not affect the tax characterization of the Dividends (i.e., capital gains and income are realized even though cash is not received). If shares are issued pursuant to the Program's dividend reinvestment provisions or cash purchase provisions at a discount from market price, participants may have income equal to the discount.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Additional information about the Program may be obtained by contacting ING's Shareholder Services Department at (800) 992-0180 and selecting Option 2.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Privately Negotiated Transactions</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Common Shares may also be offered pursuant to privately negotiated transactions between the Trust or the Distributor and specific investors. Generally, such investors will be sophisticated institutional investors. The terms of such privately negotiated transactions will be subject to the discretion of the management of the Trust. In determining whether to sell Common Shares pursuant to a privately negotiated transaction, the Trust will consider relevant factors including, but not limited to, the attractiveness of obtaining additional funds through the sale of Common Shares, the purchase price to apply to any such sale of Common Shares and the person seeking to purchase the Common Shares.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Common Shares issued by the Trust in connection with privately negotiated transactions will be issued at the greater of (i) NAV per Common Share of the Trust's Common Shares or (ii) at a discount ranging from 0% to 5% of the average of the daily market price of the Trust's Common Shares at the close of business on the two business days preceding the date upon which Common Shares are sold pursuant to the privately negotiated transaction. The discount to apply to such privately negotiated transactions will be determined by the Trust with regard to each specific transaction. The Trust will not pay any  commissions with regard to privately negotiated transactions, but an investor may be subject to a front end sales load of up to 3% paid to or retained by a third party broker-dealer through which such transaction may be effected.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">USE OF PROCEEDS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">It is expected that 100% of the net proceeds of Common Shares issued pursuant to the Shareholder Investment Program and privately negotiated transactions will be invested in Senior Loans and other securities consistent with the Trust's investment objective and policies. Pending investment in Senior Loans, the proceeds, which are expected to be used within three months, will be used to pay down the Trust's outstanding borrowings under its credit facilities. See "Investment Objective and Policies &#151; Policy on Borrowing."</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">As of June 16, 2008, the Trust's outstanding borrowings under its credit facilities was $142 million. By paying down the Trust's borrowings, the Trust can avoid adverse impacts on yields pending investment of such proceeds in Senior Loans. As investment opportunities are subsequently identified, it is expected that the Trust will reborrow amounts previously repaid and invest such amounts in additional Senior Loans.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">DIVIDENDS AND DISTRIBUTIONS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Distribution Policy.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> Income dividends are declared and paid monthly. Income dividends consist of interest accrued and amortization of fees earned less any amortization of premiums paid and the estimated expenses of the Trust, including fees payable to ING Investments. Income dividends are calculated monthly under guidelines approved by the Trustees. Each dividend is payable to shareholders of record on the 10th day of the following month (unless it is a holiday, in which case the next business day is the record date). Accrued amounts of fees received, including facility fees, will be taken in as income and passed on to shareholders as part of dividend distributions. Any fees or commissions paid to facilitate the sale of portfolio Senior Loans in connection with tender offers or other portfolio transactions may reduce the dividend yield.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Capital gains, if any, are declared and paid annually. Because the Trust currently has capital loss carry forwards, it is not anticipated that capital gains distributions will be made for the foreseeable future.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Dividend Reinvestment.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> Unless you instruct the Trust to pay you dividends in cash, dividends and distributions paid by the Trust will be reinvested in additional Common Shares of the Trust. You may request to receive dividends in cash at any time by giving DST written notice or by contacting the ING's Shareholder Services Department at (800) 992-0180 and selecting Option 2.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Plan of Distribution<br>24</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=27,FOLIO='24',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">


<p><font face="Times New Roman PS, Times New Roman, Times" size="3">INVESTMENT MANAGEMENT AND OTHER<BR>SERVICE PROVIDERS</font></p>



<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Adviser</b></font></p>



<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The business and affairs of the Trust, including supervision of the duties performed by the Trust's Adviser and Sub-Adviser are managed under the direction of Trust's Board. The names and business addresses of the Trustees and officers of the Trust and their principal occupations and other affiliations during the past five years are set forth under "Management of the Trust" in the SAI.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>ING Investments,</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> an Arizona limited liability company, serves as the Adviser to the Trust and has overall responsibility for the management of the Trust under the general supervision of the Board. Its principal business address is 7337 East Doubletree Ranch Road, Scottsdale, Arizona 85258.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust and the Adviser have entered into an investment advisory agreement ("Investment Advisory Agreement") that requires ING Investments to provide all investment advisory and portfolio management services for the Trust. The Investment Advisory Agreement with ING Investments may be canceled by the Board or by the vote of a majority of the outstanding voting securities of the Trust upon 60 days' written notice.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">ING Investments is registered with the SEC as an investment adviser. ING Investments is an indirect wholly-owned subsidiary of ING Groep. ING Groep is one of the largest financial services organizations in the world with approximately 120,000 employees. ING Investments became an investment management firm in April, 1995. </font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">As of March 31, 2008, ING Investments had assets under management of approximately $49.7 billion.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Adviser bears the expenses of providing the services described above. The Adviser currently receives from the Trust an annual fee, paid monthly, of 0.80% of the Trust's Managed Assets.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">For more information regarding the basis for the Board's approval of the investment advisory or investment sub-advisory relationships, please refer to the quarterly shareholder report dated November 30, 2007.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Sub-Adviser</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">ING Investments has engaged a sub-adviser to provide the day-to-day management of the Trust's portfolio. The sub-adviser has, at least in part, been selected primarily on the basis of its successful application of a consistent, well-defined, long-term investment approach over a period of several market cycles. </font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">ING Investments is responsible for monitoring the investment program and performance of the sub-adviser. Under the terms of the sub-advisory agreement, the agreement can be terminated by either ING Investments or the Board. In the event the sub-advisory agreement is terminated, the sub-adviser may be replaced subject to any regulatory requirements or ING Investments may assume day-to-day investment management of the Trust.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>ING Investment Management Co.</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">ING Investment Management Co., a Connecticut corporation, serves as Sub-Adviser to the Trust. Founded in 1972, ING IM is registered with the SEC as an investment adviser. ING IM is an indirect, wholly-owned subsidiary of ING Groep, and is an affiliate of ING Investments. ING IM has acted as adviser or sub-adviser to mutual funds since 1994 and has managed institutional accounts since 1972.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">As of March 31, 2008, ING IM managed approximately $71.1 billion in assets. Its principal business address is 230 Park Avenue, New York, NY 10169. For its services, ING IM is entitled to receive a sub-advisory fee of 0.36%, expressed as an annual rate based on the average daily Managed Assets of the Trust. This sub&#150;advisory fee is paid by ING Investments, not by the Trust.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Portfolio Management.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> The following individuals jointly share responsibility for the day-to-day management of the Trust's portfolio:</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Daniel A. Norman.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> Mr. Norman is Senior Vice President and Group Head of the ING IM Senior Loan Group, and has served in that capacity since November 1999. Mr. Norman also serves as Senior Vice President of the Trust, and he serves as Senior Vice President of ING Senior Income Fund, another closed-end fund sub-advised by ING IM that invests primarily in Senior Loans. Mr. Norman has co-managed the Trust with Jeffrey A. Bakalar since 1998 and with Curtis F. Lee since 2000.</font></p>



<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Jeffrey A. Bakalar.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> Mr. Bakalar is Senior Vice President and Group Head of the ING IM Senior Loan Group, and has served in that capacity since November 1999. Mr. Bakalar also serves as Senior Vice President of the Trust and as Senior Vice President of ING Senior Income Fund, another closed-end fund sub-advised by ING IM that invests primarily in Senior Loans. Mr. Bakalar has co-managed the Trust with Mr. Norman and with Curtis F. Lee since 2000.</font></p>



<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Curtis F. Lee.</b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"> Mr. Lee is Senior Vice President and Chief Credit Officer in the ING IM Senior Loan Group and has served in that capacity since January 2001. Mr. Lee also serves as Senior Vice President and Chief Credit Officer of the Fund (since January 2001), and he serves as Senior Vice President and Chief Credit Officer of ING Prime Rate Trust, another closed-end fund sub-advised by ING IM that invests primarily in Senior Loans. Mr. Lee has co-managed the Trust with Mr. Norman and with Mr. Bakalar since 2000.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Additional Information Regarding Portfolio Managers</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The SAI provides additional information about each portfolio manager's compensation, other accounts managed by each portfolio manager and each portfolio manager's ownership of securities in the Trust.</font></p>
<p><img src="j08110324_ca009.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Investment Management and Other Services Providers<br>25</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=28,FOLIO='25',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">INVESTMENT MANAGEMENT AND OTHER<BR>SERVICES PROVIDERS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>The Administrator</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Administrator of the Trust is ING Funds Services, LLC ("ING Funds Services"). Its principal business address is 7337 East Doubletree Ranch Road, Scottsdale, Arizona 85258. The Administrator is a wholly-owned subsidiary of ING Groep and the immediate parent company of the Adviser.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Under an administration agreement ("Administration Agreement") between the Administrator and the Trust, ING Funds Services administers the Trust's corporate affairs subject to the supervision of the Board. In that connection, the Administrator monitors the provisions of the Senior Loan agreements and any agreements with respect to interests in Senior Loans and is responsible for recordkeeping with respect to the Senior Loans in the Trust's repurchase offers portfolio. ING Funds Services also furnishes the Trust with office facilities and furnishes executive personnel together with clerical and certain recordkeeping and administrative services. These services include preparation of annual and other reports to shareholders and to the SEC. The Administrator also handles the filing of federal, state and local income tax returns not being furnished by the Custodian or Transfer Agent (as defined below). The Administration Agreement al
so requires the Administrator to assist in managing and supervising all aspects of the general day-to-day business activities and operations of the Trust, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. The Administrator provides the Trust with office space, equipment and personnel necessary to administer the Trust. The Administrator has authorized all of its officers and employees who have been elected as officers of the Trust to serve in such capacities. All services furnished by the Administrator under the Administration Agreement may be furnished by such officers or employees of the Administrator.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust pays the Administrator an administration fee, computed daily and payable monthly. The Administration Agreement states that the Administrator is entitled to receive a fee at an annual rate of 0.25% of the Trust's Managed Assets. The Administration Agreement may be canceled by the Board upon 60 days' written notice.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Transfer Agent, Dividend Disbursing Agent and Registrar</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The transfer agent, dividend disbursing agent and registrar for the Common Shares is DST Systems, Inc., whose principal business address is 333 W. 11th Street, Kansas City, Missouri 64105.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Custodian</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's securities and cash are held and maintained under a Custody Agreement with State Street Bank and Trust Company, whose principal place of business is 801 Pennsylvania Avenue, Kansas City, Missouri 64105.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Investment Management and Other Services Providers<br>26</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=29,FOLIO='26',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">DESCRIPTION OF THE TRUST</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust is an unincorporated business trust established under the laws of the Commonwealth of Massachusetts by an Agreement and Declaration of Trust dated December 2, 1987, as amended (Declaration of Trust). The Board is responsible for protecting the interests of shareholders. The Trustees are experienced executives who oversee the Trust's activities, review contractual arrangements with companies that provide services to the Trust and review the Trust's performance.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Declaration of Trust provides that the Trustees of the Trust may authorize separate classes of shares of beneficial interest. The Trustees have authorized an unlimited number of shares of beneficial interest, without par value, all of which were initially classified as Common Shares. The Declaration of Trust also authorizes the creation of an unlimited number of shares of beneficial interest with preference rights, including preferred shares, without par value, in one or more series, with rights as determined by the Board, by action of the Board without the approval of the shareholders. The following table shows the number of (i) shares authorized, (ii) shares held by the Trust for its own account and (iii) shares outstanding, for each class of authorized securities of the Trust as of June 16, 2008.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="119" align="left" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Title of Class</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="70" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Number<BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Authorized</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="86" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Number Held By<BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Trust for its<BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Own Account</b></font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="79" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Number<BR></b></font><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Outstanding</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="119" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Common Shares</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="54" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">unlimited</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="63" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">145,094,493</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="119" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Preferred Shares, Series M</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="54" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="63" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="119" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Preferred Shares, Series T</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="54" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="63" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="119" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Preferred Shares, Series W</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="54" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="63" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="119" bgcolor="#cceeff" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Preferred Shares, Series Th</font>

</td>
<td colspan="1" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="54" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="70" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="63" bgcolor="#cceeff" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" bgcolor="#cceeff" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8" bgcolor="#cceeff">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="119" align="left" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">Preferred Shares, Series F</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="54" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="70" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">0</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="63" align="right" valign="bottom">


<font face="Times New Roman PS, Times New Roman, Times" size="1">3,600</font>

</td>
<td colspan="1" width="8" valign="bottom">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
</table>

<p>&nbsp;</p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Common Shares outstanding are fully paid and nonassessable by the Trust. Holders of Common Shares are entitled to share equally in dividends declared by the Board payable to holders of Common Shares and in the net assets of the Trust available for distribution to holders of Common Shares after payment of the preferential amounts payable to holders of any outstanding Preferred Shares. Neither holders of Common Shares nor holders of Preferred Shares have pre-emptive or conversion rights and Common Shares are not redeemable. Upon liquidation of the Trust, after paying or adequately providing for the payment of all liabilities of the Trust and the liquidation preference with respect to any outstanding preferred shares, and upon receipt of such releases, indemnities and refunding agreements as they deem necessary for their protection, the Trustees may distribute the remaining assets of the Trust among the holders of the Common Sh
ares. Under the rules of the NYSE applicable to listed companies, the Trust is required to hold an annual meeting of shareholders in each year. If the Trust is converted to an open-end investment company or if for any other reason Common Shares are no longer listed on the NYSE (or any other national securities exchange the rules of which require annual meetings of shareholders), the Trust does not intend to hold annual meetings of shareholders.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust is responsible for paying the following expenses, among others: the fees payable to the Adviser; the fees payable to the Administrator; the fees and certain expenses of the Trust's custodian and transfer agent, including the cost of providing records to the Administrator in connection with its obligation of maintaining required records of the Trust; the charges and expenses of the Trust's legal counsel, legal counsel to the Trustees who are not "interested persons" of the Trust, as defined in the 1940 Act and independent accountants; commissions and any issue or transfer taxes chargeable to the Trust in connection with its transactions; all taxes and corporate fees payable by the Trust to governmental agencies; the fees of any trade association of which the Trust is a member; the costs of share certificates representing Common Shares of the Trust; organizational and offering expenses of the Trust and the fees and expen
ses involved in registering and maintaining registration of the Trust and its Common Shares with the SEC, including the preparation and printing of the Trust's registration statement and prospectuses for such purposes; allocable communications expenses with respect to investor services, and all expenses of shareholders' and Trustees' meetings and of preparing, printing and mailing reports, proxy statements and prospectuses to shareholders; fees for independent loan pricing services; the cost of insurance; and litigation and indemnification expenses and extraordinary expenses not incurred in the ordinary course of the Trust's business.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Under Massachusetts law, shareholders, including holders of Preferred Shares, could under certain circumstances be held personally liable for the obligations of the Trust. However, the Declaration of Trust disclaims shareholder liability for acts or obligations of the Trust and requires that notice of such disclaimer be given in each agreement, obligation or instrument entered into or executed by the Trust or the Trustees. The Declaration of Trust provides for indemnification out of Trust property for all loss and expense of any shareholder held personally liable for the obligations of the Trust. Thus, the risk of a shareholder incurring financial loss on account of shareholder liability is limited to circumstances in which the Trust would be unable to meet its obligations.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Holders of Common Shares are entitled to one vote for each share held and will vote with the holders of any outstanding Preferred Shares or any other preferred shares on each matter submitted to a vote of holders of Common Shares, except as described under "Description of Capital Structure &#151; Preferred Shares."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Shareholders are entitled to one vote for each share held. The Common Shares, Preferred Shares and any other preferred shares do not have cumulative voting rights, which means that the holders of more than 50% of the shares of Common Shares, Preferred Shares and any other preferred shares voting for the election of Trustees can elect all of the Trustees standing for election by such holders, and, in such event, the holders of the remaining shares of Common Shares, Preferred </font></p>
<p><img src="j08110324_ca010.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Description of the Trust<br>27</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=30,FOLIO='27',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">DESCRIPTION OF THE TRUST</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Shares and any other preferred shares will not be able to elect any of such Trustees.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">So long as any Preferred Shares or any other Preferred Shares are outstanding, holders of Common Shares will not be entitled to receive any dividends of or other distributions from the Trust, unless at the time of such declaration, (1) all accrued dividends on preferred shares or accrued interest on borrowings has been paid and (2) the value of the Trust's total assets (determined after deducting the amount of such dividend or other distribution), less all liabilities and indebtedness of the Trust not represented by senior securities, is at least 300% of the aggregate amount of such securities representing indebtedness and at least 200% of the aggregate amount of securities representing indebtedness plus the aggregate liquidation value of the outstanding preferred shares (expected to equal the aggregate original purchase price of the outstanding preferred shares plus redemption premium, if any, together with any accrued and unpa
id dividends thereon, whether or not earned or declared and on a cumulative basis). In addition to the requirements of the 1940 Act, the Trust is required to comply with other asset coverage requirements as a condition of the Trust obtaining a rating of the Preferred Shares from a rating agency. These requirements include an asset coverage test more stringent than under the 1940 Act.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust will send unaudited reports at least semi-annually and audited financial statements annually to all of its shareholders.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Declaration of Trust further provides that obligations of the Trust are not binding upon Trustees individually but only upon the property of the Trust and that the Trustees will not be liable for errors of judgment or mistakes of fact or law, but nothing in the Declaration of Trust protects a Trustee against any liability to which he or she would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Conversion to Open-End Fund</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trustees may at any time propose conversion of the Trust to an open-end management investment company depending upon their judgment as to the advisability of such action in light of circumstances then prevailing. In considering whether to submit an open-ending proposal to shareholders, the Trustees might consider, among other factors, the differences in operating expenses between open-end and closed-end funds (due to the expenses of continuously selling shares and of standing ready to effect redemptions), the potentially adverse tax consequences to non-redeeming shareholders once a fund is open-ended, and the impact of open-ending on portfolio management policies. Such a conversion would require the approval of both a majority of the Trust's outstanding Common Shares and preferred shares voting together as a single class and a majority of the outstanding preferred shares voting as a separate class on such conversion. Convers
ion of the Trust to an open-end investment company would require the redemption of all outstanding preferred shares, including the Preferred Shares, which would eliminate the leveraged capital structure of the Trust with respect to the Common Shares. A delay in conversion could result following shareholder approval due to the Trust's inability to redeem the preferred shares. Shareholders of an open-end investment company may require the company to redeem their shares at any time (except in certain circumstances as authorized by or under the 1940 Act) at their next computed NAV less any redemption charge as might be in effect at the time of redemption. If the Trust is converted to an open-end management investment company, it could be required to liquidate portfolio securities to meet requests for redemption, and its shares would no longer be listed on the NYSE. If the Trust were to experience significant redemptions as an open-end fund, the decrease in total assets could result in a higher expense ratio and 
inefficiencies in portfolio management. In this regard, the Trust could reserve the right to effect redemptions in-kind with portfolio securities, which would subject redeeming shareholders to transaction costs in liquidating those securities. </font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Repurchase of Common Shares</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">In recognition of the possibility that the Trust's Common Shares may trade at a discount to their NAV, the Trust may from time to time take action to attempt to reduce or eliminate a market value discount from NAV by repurchasing its Common Shares in the open market or by tendering its Common Shares at NAV. So long as any Preferred Shares are outstanding, the Trust may not purchase, redeem or otherwise acquire any Common Shares unless (1) all accumulated dividends on the Preferred Shares have been paid or set aside for payment through the date of such purchase, redemption or other acquisition and (2) at the time of such purchase, redemption or acquisition asset coverage requirements set forth in the Declaration of Trust and the Trust's Certificate of Designation for Preferred Shares are met. Repurchases of Common Shares may result in the Trust being required to redeem preferred shares to satisfy asset coverage requirements.</fon
t></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Fundamental and Non-fundamental Policies of the Trust</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The investment objective of the Trust, certain policies of the Trust specified herein as fundamental and the investment restrictions of the Trust described in the SAI are fundamental policies of the Trust and may not be changed without a Majority Vote of the shareholders of the Trust. The term Majority Vote means the affirmative vote of (a) more than 50% of the outstanding shares of the Trust or (b) 67% or more of the shares present at a meeting if more than 50% of the outstanding shares of the Trust are represented at the meeting in person or by proxy, whichever is less. All other policies of the Trust may be modified by resolution of the Board.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Description of the Trust<br>28</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=31,FOLIO='28',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">DESCRIPTION OF CAPITAL STRUCTURE</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Common Shares</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's Declaration of Trust authorizes the issuance of an unlimited number of Common Shares of beneficial interest, without par value. All Common Shares have equal rights to the payment of dividends and the distribution of assets upon liquidation. Common Shares will, when issued, be fully paid and non-assessable, and will have no pre-emptive or conversion rights or rights to cumulative voting.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Whenever preferred shares are outstanding, holders of Common Shares will not be entitled to receive any distributions from the Trust, unless at the time of such declaration, (1) all accrued dividends on Preferred Shares or accrued interest on borrowings have been paid and (2) the value of the Trust's total assets (determined after deducting the amount of such dividend or other distribution), less all liabilities and indebtedness of the Trust not represented by senior securities, is at least 300% of the aggregate amount of such securities representing indebtedness and at least 200% of the aggregate amount of securities representing indebtedness plus the aggregate liquidation value of the outstanding preferred shares. In addition to the requirements of the 1940 Act, the Trust is required to comply with other asset coverage requirements as a condition of the Trust obtaining a rating of the preferred shares from a rating agency. The
se requirements include asset coverage tests more stringent than under the 1940 Act. See "Preferred Shares" below.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Borrowings</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's Declaration of Trust authorizes the Trust, without the prior approval of holders of Common Shares, to borrow money. In this connection, the Trust may issue notes or other evidence of indebtedness (including bank borrowings or commercial paper) and may secure any such borrowings by mortgaging, pledging or otherwise granting a security interest in the Trust's assets. See "Risk Factors and Special Considerations &#151; Leverage."</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Preferred Shares</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Under the 1940 Act, the Trust is permitted to have outstanding more than one series of preferred shares as long as no single series has priority over another series nor holders of preferred shares have pre-emptive rights to purchase any other preferred shares that might be issued.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust's Declaration of Trust authorizes the issuance of a class of preferred shares (which class may be divided into two or more series) as the Trustees may, without shareholder approval, authorize. The preferred shares have such preferences, voting powers, terms of redemption, if any, and special or relative rights or privileges (including conversion rights, if any) as the Trustee may determine and as are set forth in the Trust's Certificate of Designation establishing the terms of the preferred shares. The number of shares of the preferred class or series authorized is unlimited, and the shares authorized may be represented in part by fractional shares. Under the Trust's Certificate of Designation, the Trustees have authorized the creation of 18,000 Auction Rate Cumulative Preferred Shares, without par value, with a liquidation preference of $25,000 per share, classified as Series M, T, W, Th and F Auction Rate Cumulative 
Preferred Shares.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Any decision to offer preferred shares is subject to market conditions and to the Board and the Adviser's continuing belief that leveraging the Trust's capital structure through the issuance of preferred shares is likely to achieve the benefits to the Common Shares described in this Prospectus for long-term investors. The terms of the preferred shares will be determined by the Board in consultation with the Adviser (subject to applicable law and the Trust's Declaration of Trust) if and when it authorizes a preferred shares offering.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Preferred Shares have complete priority over the Common Shares as to distribution of assets. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Trust, holders of preferred shares will be entitled to receive a preferential liquidating distribution (expected to equal the original purchase price per share plus accumulated and unpaid dividends thereon, whether or not earned or declared) before any distribution of assets is made to holders of Common Shares.</font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Since early February 2008, the Trust has not received hold orders and purchase requests for its Preferred Shares during their weekly auctions that equaled the full amount of such shares. As a result, under the terms of the Preferred Shares, the amount sold by each selling shareholder was reduced pro rata or to zero. In addition, the dividend rate on such preferred shares, which is normally set by means of a Dutch auction procedure, automatically reset to the maximum rate permitted under the Preferred Shares program. That maximum rate is 150% of the applicable commercial paper base rate on the day of the auction. It is unclear whether the dividend rate for the Preferred Shares will be set by means of an auction again in the future. On June 9, 2008, the Trust announced the approval by the Board of Trustees of a partial redemption of its outstanding Preferred Shares. The Trust expects to redeem approximately $225 million of the $45
0 million of its outstanding Preferred Shares. The Preferred Shares are expected to be redeemed using proceeds available through the Trust's existing bank loan facility. Redemption costs and the on-going costs of obtaining leverage through a bank loan facility may reduce returns to Common Shares and may be higher than the costs of leverage obtained through the Preferred Shares. The Trust and the Board of Trustees will continue to closely monitor the situation and evaluate potential options to restore liquidity to and/or provide additional refinancing options for this market in the context of regulatory guidelines, as well as the economic and tax implications for both its Common and Preferred shareholders.</font></p>

<p><img src="j08110324_ca011.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Description of Capital Structure<br>29</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=32,FOLIO='29',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">TAX MATTERS</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The following information is meant as a general summary for U.S. shareholders. Please see the SAI for additional information. Investors should rely on their own tax adviser for advice about the particular federal, state and local tax consequences to them of investing in the Trust.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The federal income tax treatment of the Trust's Preferred Shares is not entirely clear, but the Trust believes, based on the advice of its counsel, that the Preferred Shares will constitute stock of the Trust. It is possible, however, that the IRS might take a contrary position, asserting, for example, that the Preferred Shares constitute debt of the Trust. The discussion below assumes that the Preferred Shares are stock.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust will distribute all or substantially all of its net investment income and net realized capital gains, if any, to its shareholders each year. Although the Trust will not be taxed on amounts it distributes, most shareholders will be taxed on amounts they receive. A particular distribution generally will be taxable as either ordinary income or long-term capital gain. The Trust will allocate a proportionate amount of each type of its income to the Common Shares and to the Preferred Shares. It generally does not matter how long a shareholder has held the Trust's Common Shares or Preferred Shares or whether the shareholder elects to receive distributions in cash or reinvest them in additional Trust's Common Shares or Preferred Shares. For example, if the Trust designates a particular distribution as a long-term capital gains distribution, it will be taxable to a shareholder at his or her long-term capital gains rate. Dividen
ds from the Trust are not expected to be eligible for the reduced rate of tax that may apply to certain qualifying dividends on corporate stock.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">&#149;&nbsp;&nbsp;Distributions of earnings from non-qualifying dividends interest income, other types of ordinary income and short-term capital gains will be taxed at the ordinary income tax rate applicable to the taxpayer.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Dividends declared by the Trust in October, November or December and paid during the following January may be treated as having been received by shareholders in the year the distributions were declared. </font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Each shareholder will receive an annual statement summarizing the shareholder's dividend and capital gains distributions.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">If a shareholder invests through a tax-deferred account, such as a retirement plan, the shareholder generally will not have to pay tax on dividends until they are distributed from the account. These accounts are subject to complex tax rules, and shareholders should consult a tax adviser about investment through a tax-deferred account.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">There may be tax consequences to a shareholder if the shareholder sells the Trust's Common Shares or Preferred Shares. A shareholder will generally have a capital gain or loss, which will be long-term or short-term, generally depending on how long the shareholder holds those Common Shares or Preferred Shares. If a shareholder exchanges shares, the shareholder may be treated as if he or she sold them. Shareholders are responsible for any tax liabilities generated by their own transactions.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">As with all investment companies, the Trust may be required to withhold U.S. federal income tax at the current rate of 28% of all taxable distributions payable to a shareholder if the shareholder fails to provide the Trust with his or her correct taxpayer identification number or to make required certifications, or if the shareholder has been notified by the IRS that he or she is subject to backup withholding. Backup withholding is not an additional tax; rather, it is a way in which the IRS ensures it will collect taxes otherwise due. Any amounts withheld may be credited against a shareholder's U.S. federal income tax liability.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Tax Matters<br>30</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=33,FOLIO='30',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman PS, Times New Roman, Times" size="3">MORE INFORMATION</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Distribution Arrangements</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">Pursuant to the terms of a distribution agreement ("Distribution Agreement"), ING Funds Distributor will act as the Trust's distributor for the optional cash investments under the Trust's Shareholder Investment Program and for privately negotiated transactions. The Distribution Agreement provides that ING Fund's Distributor does not receive compensation or commissions from the Trust for such services. In addition, no fees or commissions will be paid by the Trust or its shareholders in connection with the reinvestment of dividends and capital gains distributions. ING Funds Distributor's principal business address is 7337 East Doubletree Ranch Road, Scottsdale, Arizona 85258. ING Funds Distributor, ING Investments, the Trust's Adviser, and ING IM, the Trust's Sub-Adviser, are indirect, wholly-owned subsidiaries of ING Groep. See "Plans of Distribution" in the SAI.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust bears the expenses of issuing the Common Shares. These expenses include, but are not limited to, the expense of preparation and printing of the Prospectus and SAI, the expense of counsel and independent registered public accounting firm and others.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Legal Matters</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The validity of the Common Shares offered hereby will be passed upon for the Trust by Dechert LLP, 1775 I Street, NW, Washington, DC 20006, counsel to the Trust.</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Independent Registered Public Accounting Firm</b></font></p>


<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">KPMG LLP serves as the independent registered public accounting firm for the Trust. The principal address of KPMG is 99 High Street, Boston, Massachusetts 02110.</font></p>

<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>Registration Statement</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">The Trust has filed with the SEC a Registration Statement under the Securities Act of 1933, relating to the Common Shares offered hereby. For further information with respect to the Trust and its Common Shares, reference is made to such Registration Statement and the exhibits filed therein.</font></p>
<p><img src="j08110324_ca012.jpg">
<font face="Times New Roman PS, Times New Roman, Times" size="1"> &nbsp;If you have any questions, please call 1-800-992-0180.</font></p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">More Information<br>31</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=34,FOLIO='31',FILE='08-11032-4.ca',USER='dbaker',CD='Jun 27 11:05 2008' -->
<br clear="all" style="page-break-before:always;">


<br clear="all" style="page-break-before:always;">
<!-- Document name: 08-11032-4.ea-->
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="3">STATEMENT OF ADDITIONAL INFORMATION</font></p>
<p align="center"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>TABLE OF CONTENTS</b></font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" width="352" valign="bottom">


&nbsp;

</td>
<td colspan="1">&nbsp;</td>
<td colspan="3" width="53" align="center" valign="bottom" style="border:none; border-bottom:solid windowtext 1pt;padding:0pt .7pt 0pt 0pt;">


<font face="Times New Roman PS, Times New Roman, Times" size="1"><b>Page</b></font>

</td>
<td colspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Change of Name</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">3</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Investment Objective</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">3</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Investment Restrictions</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">3</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Additional Information About Investments and Investment Techniques</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">5</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Trustees and Officers</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">14</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Compensation Table</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">26</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Investment Management and Other Service Providers</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">29</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Distributor</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">35</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Proxy Voting Procedures</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">35</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Shareholder Investment Program</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">36</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Code of Ethics</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">37</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Portfolio Transactions</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">38</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Net Asset Value</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">42</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Federal Taxation</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">42</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Advertising and Performance Data</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">47</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">General Information</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">48</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Financial Statements</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">49</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
<tr>
<td colspan="3" width="352" align="left" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">Appendix A</font>

</td>
<td colspan="1">&nbsp;</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="37" align="right" valign="top">


<font face="Times New Roman PS, Times New Roman, Times" size="2">A-1</font>

</td>
<td colspan="1" width="8" valign="top">


&nbsp;

</td>
<td colspan="1" width="8">&nbsp;</td>
</tr>
<tr height="8"><td colspan="8" height="8"></td></tr>
</table>

<p>&nbsp;</p>
<p align="center"><font size="2" face="Times New Roman PS, Times New Roman, Times">Statement of Additional Information<br>32</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=35,FOLIO='32',FILE='08-11032-4.ea',USER='bforo',CD='Jun 27 04:09 2008' -->
<br clear="all" style="page-break-before:always;">


<br clear="all" style="page-break-before:always;">
<!-- Document name: 08-11032-4.za-->
<p align="center"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>ING PRIME RATE TRUST</b></font></p>
<p align="center"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>7337 East Doubletree Ranch Road<BR>Scottsdale, Arizona 85258<BR>(800) 992-0180</b></font></p>
<p align="center"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>25,000,000 Common Shares of Beneficial Interest</b></font></p>
<p align="center"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>TRUST ADVISORS AND AGENTS</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>ADVISER</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">ING Investments, LLC<BR>7337 East Doubletree Ranch Road<BR>Scottsdale, AZ 85258</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>SUB-ADVISER</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">ING Investment Management Co.<BR>230 Park Avenue<BR>New York, NY 10169</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>ADMINISTRATOR</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">ING Funds Services, LLC<BR>7337 East Doubletree Ranch Road<BR>Scottsdale, AZ 85258</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>CUSTODIAN</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">State Street Bank and Trust<BR>801 Pennsylvania Avenue<BR>Kansas City, MO 64105</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>INDEPENDENT REGISTERED PUBLIC<BR>ACCOUNTING FIRM</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">KPMG LLP<BR>99 High Street<BR>Boston, MA 02110</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>DISTRIBUTOR</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">ING Funds Distributor, LLC<BR>7337 East Doubletree Ranch Road<BR>Scottsdale, AZ 85258</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>TRANSFER AGENT</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">DST Systems, Inc.<BR>333 W. 11th Street<BR>Kansas City, MO 64105</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>LEGAL COUNSEL</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">Dechert LLP<BR>1775 I Street, NW<BR>Washington, DC 20006</font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2"><b>INSTITUTIONAL INVESTORS AND ANALYSTS</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="2">Call ING Prime Rate Trust<BR>(800) 336-3436</font></p>
<p><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>The Trust has not authorized any person to provide you with any information or to make any representations other than those contained in this Prospectus in connection with this offer. You should rely only on the information in this Prospectus or other information to which we have referred you. This Prospectus is not an offer to sell or the solicitation of any offer to buy any security other than the Common Shares offered by this Prospectus, nor does it constitute an offer to sell or a solicitation of any offer to buy the Common Shares by anyone in any jurisdiction in which such offer or solicitation is not authorized, or in which the person making such offer or solicitation is not qualified to do so, or to any person to whom it is unlawful to make such an offer or solicitation. The delivery of this Prospectus or any sale made pursuant to this Prospectus does not imply that the information contained in this Prospectus is correct as of any 
time after the date of this Prospectus. However, if any material change occurs while this Prospectus is required by law to be delivered, this Prospectus will be amended or supplemented.</b></font></p>
<p><font face="Times New Roman PS, Times New Roman, Times" size="1"><b>When contacting the SEC, you will want to refer to the Trust's SEC file number. The file number is as follows:</b></font></p>
<p align="left"><font face="Times New Roman PS, Times New Roman, Times" size="1">1940 Act File No. 811-05410</font></p>
<p><img src="j08110324_za046.jpg"></p>
<p><font face="Times New Roman PS, Times New Roman, Times" size="2">PRPRO-UPPR25M  (0608-063008)</font></p>
<hr size="3" width="100%" noshade color="gray" align="center">
<!-- SEQ.=36,FOLIO='',FILE='08-11032-4.za',USER='bliteck',CD='Jun 18 21:33 2008' -->
<br clear="all" style="page-break-before:always;">


<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">STATEMENT OF ADDITIONAL INFORMATION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">June&nbsp;30, 2008</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Prime Rate Trust</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7337 East Doubletree Ranch Road</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Scottsdale, Arizona 85258-2034</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(800) 992-0180</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Prime Rate Trust (&#147;Trust&#148;)
is a diversified, closed-end management investment company registered under the
Investment Company Act of 1940, as amended (&#147;1940 Act&#148;).&#160; The Trust&#146;s investment objective is to
provide investors with as high a level of current income as is consistent with
the preservation of capital.&#160; There is no
assurance that the Trust will achieve its investment objective.&#160; The Trust is managed by ING Investments, LLC
(&#147;ING Investments&#148; or &#147;Adviser&#148;) and sub-advised by ING Investment Management
Co. (&#147;ING IM&#148; or &#147;Sub-Adviser&#148;).</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Statement of Additional
Information (&#147;SAI&#148;) does not constitute a prospectus, but should be read in
conjunction with the Prospectus relating thereto dated June&nbsp;30, 2008.&#160; Capitalized terms not defined herein are used
as defined in the Prospectuses.&#160; This SAI
does not include all the information that a prospective investor should
consider before purchasing Common Shares in this offering, and investors should
obtain and read the Prospectus prior to purchasing such shares.&#160; In addition, the Trust&#146;s financial statements
and the independent registered public accounting firm&#146;s report thereon included
in the annual shareholder report dated February&nbsp;29, 2008, are incorporated
herein by reference.&#160; A copy of the
Prospectuses may be obtained without charge by contacting the Trust at the
address and phone number written above.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Prospectuses and SAI
omit certain information contained in the registration statement filed with the
U.S. Securities and Exchange Commission (&#147;SEC&#148;).&#160; The registration statement may be obtained
from the SEC upon payment of the fee prescribed, or inspected at the SEC&#146;s
office for no charge.&#160; The registration
statement is also available on the SEC&#146;s website (www.sec.gov).</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='1',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TABLE OF
CONTENTS</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CHANGE OF NAME</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">3</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">INVESTMENT
  OBJECTIVE</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">3</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">INVESTMENT
  RESTRICTIONS</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">3</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">ADDITIONAL
  INFORMATION ABOUT INVESTMENTS AND INVESTMENT TECHNIQUES</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">5</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">TRUSTESS AND
  OFFICERS</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">14</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">COMPENSATION OF
  TRUSTEES</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">26</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">INVESTMENT
  MANAGEMENT AND OTHER SERVICE PROVIDERS</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">29</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">DISTRIBUTOR</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">35</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">PROXY VOTING
  PROCEDURES</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">35</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">SHAREHOLDER
  INVESTMENT PROGRAM</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">36</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CODE OF ETHICS</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">37</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">PORTFOLIO
  TRANSACTIONS</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">38</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">NET
  ASSET VALUE</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">42</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">FEDERAL
  TAXATION</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">42</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">ADVERTISING
  AND PERFORMANCE DATA</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">47</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">GENERAL
  INFORMATION</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">48</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">FINANCIAL
  STATEMENTS</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">49</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.36%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">APPENDIX
  A</font></b></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.64%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">A-1</font></b></p>
  </td>
 </tr>
</table>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">CHANGE OF NAME</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust changed its name
from Pilgrim Prime Rate Trust to Pilgrim America Prime Rate Trust in April&nbsp;1996,
and then changed its name back to Pilgrim Prime Rate Trust on November&nbsp;16,
1998.&#160; Effective March&nbsp;1, 2002, the
Trust changed its name to ING Prime Rate Trust.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">INVESTMENT OBJECTIVE</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust&#146;s investment
objective is to obtain as high a level of current income as is consistent with
the preservation of capital.&#160; The Trust
seeks to achieve its investment objective by investing under normal
circumstances at least 80% of its net assets, plus the amount of any borrowings
for investment purposes, in U.S. dollar denominated floating rate secured
senior loans (&#147;Senior Loans&#148;). Under normal circumstances, the Trust invests at
least 80% of its assets in Senior Loans made to corporations or other business
entities organized under U.S. or Canadian law and that are domiciled in the
United States and U.S. territories and possessions or Canada.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Senior Loans in which
the Trust invests either hold the most senior position in the capital structure
of the borrower or hold an equal ranking with other senior debt or have
characteristics that the Adviser or Sub-Adviser believes justify treatment as
senior debt. These Senior Loans are typically below investment grade credit
quality.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust may also invest up
to 20% of its total assets, measured at the time of investment, in a
combination of one or more of the following types of investments: loans to
borrowers outside the United States and U.S. territories and possessions or
Canada, unsecured floating rate loans, notes and other debt securities,
floating rate subordinated loans, tranches of floating rate asset-backed
securities, including structured notes, short-term debt instruments equity
securities acquired in connection with investments in loans and other
instruments as described under &#147;Additional Information About Investments and
Investment Techniques.&#148;&#160; During periods
when, in the opinion of the Trust&#146;s Adviser or Sub-Adviser, a temporary
defensive posture in the market is appropriate, the Trust may hold up to 100%
of its assets in cash and/or in short-term debt instruments.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">INVESTMENT RESTRICTIONS</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust operates under a
number of investment policies and restrictions.&#160;
Certain investment restrictions of the Trust are designated as
fundamental policies and as such may not be changed without the approval of a
majority of the Trust&#146;s outstanding voting securities.&#160; In accordance with the 1940 Act, a majority
of the Trust&#146;s outstanding securities means the lesser of (i)&nbsp;67% or more
of the Trust&#146;s shares present at a meeting, if the holders of more than 50% of
the Trust&#146;s shares are present or represented by proxy, or (ii)&nbsp;more than
50% of the Trust&#146;s shares.&#160; The following
investment restrictions have been designated as fundamental policies.&#160; The Trust will not:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>issue senior securities,
except insofar as the Trust may be deemed to have issued a senior security by
reason of&#160; (i)&nbsp;entering into certain
interest rate hedging transactions,&#160; (ii)&nbsp;entering
into reverse repurchase agreements, (iii)&nbsp;borrowing money in an amount not
exceeding 33<font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font>/<font size="1" style="font-size:7.0pt;position:relative;top:2.0pt;">3</font>%, or such other percentage
permitted by law, of the Trust&#146;s total assets (including the borrowed amount)
less all liabilities other than borrowings, or (iv)&nbsp;issuing a class or
classes of preferred shares in an amount not exceeding 50%, or such other
percentage permitted by law, of the Trust&#146;s total assets less all liabilities
and indebtedness not represented by senior securities;</p>

<p style="margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>invest more than 25% of
its total assets in any industry;</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>invest in marketable
warrants other than those acquired in conjunction with Senior Loans and such
warrants will not constitute more than 5% of its assets;</p>

<p style="margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>make investments in any
one issuer other than U.S. government securities if, immediately after such
purchase or acquisition, more than 5% of the value of the Trust&#146;s total assets
would be invested in such issuer, or the Trust would own more than 25% of any
outstanding issue, except that up to 25% of the Trust&#146;s total assets may be
invested without regard to the foregoing restrictions.&#160; For the purpose of the foregoing restriction,
the Trust will consider the borrower of a Senior Loan to be the issuer of such
Senior Loan.&#160; In addition, with respect
to a Senior Loan under which the Trust does not have privity with the borrower
or would not have a direct cause of action against the borrower in the event of
the failure of the borrower to pay scheduled principal or interest, the Trust
will also separately meet the foregoing requirements and consider each
interpositioned bank (a lender from which the Trust acquires a Senior Loan) to
be an issuer of the Senior Loan;</p>

<p style="margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>act as an underwriter of
securities, except to the extent that it may be deemed to act as an underwriter
in certain cases when disposing of its portfolio investments or acting as an
agent or one of a group of co-agents in originating Senior Loans;</p>

<p style="margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>purchase or sell equity securities
(except that the Trust may, incidental to the purchase or ownership of an
interest in a Senior Loan, or as part of a borrower reorganization, acquire,
sell and exercise warrants and/or acquire or sell other equity securities),
real estate, real estate mortgage loans, commodities, commodity futures
contracts, or oil or gas exploration or development programs; or sell short,
purchase or sell straddles, spreads, or combinations thereof, or write put or
call options;</p>

<p style="margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>make loans of money or
property to any person, except that the Trust: (i)&nbsp;may make loans to
corporations or other business entities, or enter into leases or other
arrangements that have the characteristics of a loan; (ii)&nbsp;may lend
portfolio instruments; and (iii)&nbsp;may acquire securities subject to
repurchase agreements;</p>

<p style="margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>purchase shares of other
investment companies, except in connection with a merger, consolidation,
acquisition or reorganization; or</p>

<p style="margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>make investments on
margin or hypothecate, mortgage or pledge any of its assets except for the
purpose of securing borrowings as described above in connection with the
issuance of senior securities and then only in an amount up to 33<font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font>/<font size="1" style="font-size:7.0pt;position:relative;top:2.0pt;">3</font>%
(50% in the case of the issuance of a preferred class of shares), or such other
percentage permitted by law, of the value of the Trust&#146;s total assets
(including, with respect to borrowings, the amount borrowed) less all
liabilities other than borrowings (or, in the case of the issuance of senior
securities, less all liabilities and indebtedness not represented by senior
securities).</p>

<p style="margin:0in 0in .0001pt 49.5pt;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With regard
to paragraph number 2 above, the Fund
will consider the borrower on a loan, including a loan participation, to be the
issuer of that loan.&#160; In addition, with
respect to a loan under which the Fund does not have privity with the borrower
or would not have a direct cause of action against the borrower in the event of
the failure of the borrower to pay scheduled principal or interest, the Fund
will also consider each interpositioned bank (a lender from which the Fund
acquires a loan) to be an issuer of the loan.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If a percentage restriction
is adhered to at the time of investment, a later increase or decrease in
percentage resulting from a change in value of the Trust&#146;s investments or
amount of total assets will not be considered a violation of any of the
foregoing restrictions.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">There is no limitation on
the percentage of the Trust&#146;s total assets that may be invested in instruments
which are not readily marketable or subject to restrictions on resale, and to
the extent the Trust invests in such instruments, the Trust&#146;s portfolio should
be considered illiquid.&#160; The extent to
which the Trust invests in such instruments may affect its ability to realize
the net asset value (&#147;NAV&#148;) of the Trust in the event of the voluntary or
involuntary liquidation of its assets.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust has also adopted a
non-fundamental policy as required by Rule&nbsp;35d-1 under the 1940 Act to
invest, under normal circumstances, at least 80% of its net assets, plus the
amount of any borrowings for investment purposes, in floating rate secured
Senior Loans.&#160; The Trust has also adopted
a policy to provide its shareholders with at least 60 days&#146; prior notice of any
change in such investment policy.&#160; If, subsequent
to an investment, the 80% requirement is no longer met, the Trust&#146;s future
investments will be made in a manner that will bring the Trust into compliance
with this policy.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">ADDITIONAL INFORMATION ABOUT INVESTMENTS
AND</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">INVESTMENT TECHNIQUES</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Some of the different types
of securities in which the Trust may invest, subject to its investment
objective, policies and restrictions, are described in the Prospectus under &#147;Investment
Objective and Policies.&#148;&#160; Additional
information concerning certain of the Trust&#146;s investments and investment
techniques is set forth below.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Equity
Securities</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with its
purchase or holding of interests in loans, the Trust may acquire (and
subsequently sell) equity securities or exercise warrants that it
receives.&#160; The Trust will acquire such
interests only as an incident to the intended purchase or ownership of loans or
in connection with a reorganization of a borrower or its debt.&#160; The Trust normally will not hold more than 20%
of its total assets in equity securities.&#160;
Equity securities will not be treated as Senior Loans; therefore, an
investment in such securities will not count toward the 80% of the Trust&#146;s </font><font size="2" style="font-size:10.0pt;">net assets, plus
the amount of any borrowings for investment purposes,</font><font size="2" style="font-size:10.0pt;"> that normally
will be invested in Senior Loans.&#160; Equity
securities are subject to financial and market risks and can be expected to
fluctuate in value.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lease
Participations</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Loans that the Trust
may acquire include participation interests in lease financings (&#147;Lease
Participations&#148;) where the collateral quality, credit quality of the borrower
and the likelihood of payback are believed by the Adviser or Sub-Adviser to be
the same as those applied to conventional Senior Loans.&#160; A Lease Participation is also required to
have a floating interest rate that is indexed to a benchmark indicator of
prevailing interest rates, such as London Inter-Bank Offered Rate (&#147;LIBOR&#148;) or
the Prime Rate.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The credit quality standards
and general requirements that the Trust applies to Lease Participations including
collateral quality, the credit quality of the borrower and the likelihood of
payback are substantially the same as those applied to conventional Senior
Loans. A Lease Participation is also required to have a floating interest rate
that is indexed to the federal funds rate, LIBOR&#160; or Prime Rate in order to be eligible for
investment.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Office of the
Comptroller of the Currency has established regulations which set forth
circumstances under which national banks may engage in lease financings. Among
other things, the regulation requires that a lease be a net-full payout lease
representing the noncancelable obligation of the lessee, and that the bank make
certain determinations with respect to any estimated residual value of leased
property relied upon by the bank to yield a full return on the lease. The Trust
may invest in lease financings only if the Lease Participation meets these
banking law requirements.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest Rates
and Portfolio Maturity</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest rates on loans in
which the Trust invests adjust periodically.&#160;
The interest rates are adjusted based on a base rate plus a premium or
spread over the base rate.&#160; The base rate
usually is LIBOR, the Federal Reserve federal funds rate, the Prime Rate or
other base lending rates used by commercial lenders.&#160; LIBOR usually is an average of the interest
rates quoted by several designated banks as the rates at which they pay
interest to major depositors in the London interbank market on U.S. dollar
denominated deposits.&#160; The Adviser and
Sub-Adviser believe that changes in short-term LIBOR rates are closely related
to changes in the Federal Reserve federal funds rate, although the two are not
technically linked.&#160; The Prime Rate
quoted by a major U.S. bank is generally the interest rate at which that bank
is willing to lend U.S. dollars to its most creditworthy borrowers, although it
may not be the bank&#146;s lowest available rate.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Loans in which
the Trust invests typically have multiple reset periods at the same time, with
each reset period applicable to a designated portion of the loan. The maximum
duration of an interest rate reset on any loan in which the Trust can invest is
one year.&#160; The maximum maturity on any
loan in which the Trust can invest is ten years.&#160; The Trust&#146;s portfolio of loans will
ordinarily have a dollar-weighted average time until the next interest rate
adjustment of ninety (90) days or less, although the time may exceed 90
days.&#160; The Trust may find it possible and
appropriate to use interest rate swaps and other investment practices to
shorten the effective interest rate adjustment period of loans.&#160; If the Trust does so, it will consider the
shortened period to be the adjustment period of the loan.&#160; As short-term interest rates rise, interest
payable to the Trust should increase.&#160; As
short-term interest rates decline, interest payable to the Trust should
decrease.&#160; The amount of time that will
pass before the Trust experiences the effects of changing short-term interest
rates will depend on the dollar-weighted average time until the next interest
rate adjustment on the Trust&#146;s portfolio of loans. </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Loans usually have mandatory
and optional prepayment provisions.&#160;
Because of prepayments, the actual remaining maturity of a loan may be
considerably less than its stated maturity.&#160;
If a loan is prepaid, the Trust will have to reinvest the proceeds in
other loans or securities which may have a lower fixed spread over its base
rate.&#160; In such a case, the amount of
interest paid to the Trust would likely decrease.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the event of a change in
the benchmark interest rate on a loan, the rate payable to lenders under the
loan will, in turn, reset as the applicable reset period reach their next
scheduled reset date.&#160; If the benchmark
rate goes up, the Trust as lender would earn interest at a higher rate, but
only on and after such reset date.&#160; If
the benchmark rate goes down, the Trust as lender would earn interest at a
lower rate, but only on and after such reset date.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During normal market
conditions, changes in market interest rates will affect the Trust in certain
ways.&#160; The principal effect will be that
the yield on the Trust&#146;s Common Shares will tend to rise or fall as market
interest rates rise and fall.&#160; This is
because almost all of the assets in which the Trust invests pay interest at
rates which float in response to changes in market rates.&#160; However, because the interest rates on the
Trust&#146;s assets reset over time, there will be an imperfect correlation between
changes in market rates and changes to rates on the portfolio as a whole.&#160; This means that changes to the rate of
interest paid on the portfolio as a whole will tend to lag behind changes in
market rates.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='6',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Market interest rate changes
may also cause the Trust&#146;s NAV to experience moderate volatility.&#160; This is because the value of a loan asset in
the Trust is partially a function of whether it is paying what the market
perceives to be a market rate of interest for the particular loan, given its
individual credit and other characteristics.&#160;
If market interest rates change, a loan&#146;s value could be affected to the
extent the interest rate paid on that loan does not reset at the same
time.&#160; As discussed above, the rates of
interest paid on the loans in which the Trust invests have a weighted average
reset period that typically is less than 90 days.&#160; Therefore, the impact of the lag between a
change in market interest rates and the change in the overall rate on the portfolio
is expected to be minimal.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Finally, to the extent that
changes in market rates of interest are reflected not in a change to a base
rate such as LIBOR but in a change in the spread over the base rate which is
payable on loans of the type and quality in which the Trust invests, the Trust&#146;s
NAV could be adversely affected.&#160; Again,
this is because the value of a loan asset in the Trust is partially a function
of whether it is paying what the market perceives to be a market rate of
interest for the particular loan, given its individual credit and other
characteristics.&#160; However, unlike changes
in market rates of interest for which there is only a temporary lag before the
portfolio reflects those changes, changes in a loan&#146;s value based on changes in
the market spread on loans in the Trust&#146;s portfolio may be of longer duration.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other
Investments</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Assets not invested in
Senior Loans will generally consist of other instruments, including loans to
borrowers organized outside the United States and U.S. territories and
possessions or Canada, unsecured floating rate loans, notes and other debt
instruments, floating rate subordinated loans up to a maximum of 5% of the
Trust&#146;s total assets, tranches of floating rate asset-backed securities,
including structured notes, short-term debt securities, with remaining
maturities of 120 days or less (which may have yields tied to the Prime Rate,
commercial paper rates, the federal funds rate or LIBOR) and equity securities
acquired in connection with investments in loans.&#160; Short-term debt instruments may include (i)&nbsp;commercial
paper rated A-1 by Standard&nbsp;&amp; Poor&#146;s (&#147;S&amp;P&#148;) Ratings Services or
P-1 by Moody&#146;s Investors Service,&nbsp;Inc. (&#147;Moody&#146;s&#148;), or of comparable
quality as determined by the Adviser or Sub-Adviser, (ii)&nbsp;certificates of
deposit, bankers&#146; acceptances, and other bank deposits and obligations, and (iii)&nbsp;securities
issued or guaranteed by the U.S. government, its agencies or
instrumentalities.&#160; Under normal
circumstances, the Trust may invest in cash and/or short-term instruments.
During periods when, in the judgment of the Adviser or Sub-Adviser, a temporary
defensive posture in the market is appropriate, the Trust may hold up to 100%
of its assets in cash and/or in short-term debt instruments.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Repurchase Agreements</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust has the ability,
pursuant to its investment objective and policies, to enter into repurchase
agreements.&#160; A repurchase agreement is a
contract under which the Trust may sell and simultaneously obtain the
commitment of the purchaser to sell the security back to the Trust at an agreed
upon price on an agreed upon date.&#160;
Repurchase agreements will be considered borrowings by the Trust, and as
such are subject to the restrictions on borrowing.&#160; Borrowings by the Trust create an opportunity
for greater total return, but at the same time increase exposure to capital
risk.&#160; The Trust will maintain in a
segregated account with its custodian cash or liquid high grade portfolio
securities in an amount sufficient to cover its obligations with respect to the
repurchase agreements.&#160; The Trust will receive
payment for such securities only upon physical delivery or evidence of book
entry transfer by its custodian.&#160;
Regulations of the SEC require either that securities sold by the Trust
under a repurchase agreement be segregated pending repurchase or that the
proceeds be segregated on the Trust&#146;s books and records pending
repurchase.&#160; Repurchase agreements may
involve certain risks in the event of default or insolvency of the other party,
including possible loss from delays or restrictions upon the Trust&#146;s ability to
dispose of the underlying securities.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='7',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reverse
Repurchase Agreements</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust has the ability,
pursuant to its investment objective and policies, to enter into repurchase
agreements if the asset which is the subject of the repurchase is a loan.&#160; Such agreements may be considered to be loans
by the Trust for purposes of the 1940 Act.&#160;
Each reverse repurchase agreement must be collateralized fully, in
accordance with the provisions of Rule&nbsp;5b-3 under the 1940 Act, at all
times.&#160; Pursuant to such reverse
repurchase agreements, the Trust acquires securities from financial
institutions such as brokers, dealers and banks, subject to the seller&#146;s
agreement to repurchase and the Trust&#146;s agreement to resell such securities at
a mutually agreed upon date and price.&#160;
The term of such an agreement is generally quite short, possibly
overnight or for a few days, although it may extend over a number of months (up
to one year) from the date of delivery.&#160;
The repurchase price generally equals the price paid by the Trust plus
interest negotiated on the basis of current short-term rates (which may be more
or less than the rate on the underlying portfolio security).&#160; The securities underlying a reverse
repurchase agreement will be marked to market every business day so that the
value of the collateral is at least equal to the value of the loan, including
the accrued interest thereon, and the Adviser or Sub-Adviser will monitor the
value of the collateral.&#160; Securities
subject to reverse repurchase agreements will be held by the custodian or in
the Federal Reserve/Treasury Book-Entry System. If the seller defaults on its
repurchase obligation, the Trust will suffer a loss to the extent that the
proceeds from a sale of the underlying securities is less than the repurchase
price under the agreement.&#160; Bankruptcy or
insolvency of such a defaulting seller may cause the Trust&#146;s rights with
respect to such securities to be delayed or limited.&#160; To mitigate this risk, the Trust only enters
into reverse repurchase agreements with highly rated, large financial
institutions.&#160; The Trust may only enter
into reverse repurchase agreements that qualify for an exclusion from any
automatic stay of creditors&#146; rights against the counterparty under applicable
insolvency law in the event of the counterparty&#146;s insolvency.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lending Loan
Interests and Other Portfolio Instruments</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="font-size:9.0pt;margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To generate additional
income, the Trust may lend its portfolio securities, including interests
in&#160; Senior Loans, in an amount equal to
up to 33</font><font size="1" style="font-size:7.0pt;position:relative;top:-3.0pt;">1</font>/<font size="1" style="font-size:7.0pt;position:relative;top:2.0pt;">3</font><font size="2" style="font-size:10.0pt;">% of the Trust&#146;s total
assets to broker-dealers, major banks, or other recognized domestic
institutional borrowers of securities.&#160;
No lending may be made to any companies affiliated with the Adviser or
Sub-Adviser.&#160; During the time portfolio
securities are on loan, the borrower pays the Trust any dividends or interest
paid on such securities, and the Trust may invest the cash collateral and earn
additional income, or it may receive an agreed-upon amount of interest income
from the borrower who has delivered equivalent collateral or a letter of
credit.&#160; As with other extensions of
credit, there are risks of delay in recovery or even loss of rights in the
collateral should the borrower fail financially.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust may seek to increase
its income by lending financial instruments in its portfolio in accordance with
present regulatory policies, including those of the Board of Governors of the
Federal Reserve System and the SEC.&#160; The
lending of financial instruments is a common practice in the securities
industry.&#160; The loans are required to be
secured continuously by collateral, consistent with the requirements of the
1940 Act discussed below, maintained on a current basis at an amount at least
equal to the market value of the portfolio instruments loaned.&#160; The Trust has the right to call a loan and
obtain the portfolio instruments loaned at any time on such notice as specified
in the transaction documents.&#160; For the
duration of the loan, the Trust will continue to receive the equivalent of the
interest paid by the issuer on the portfolio instruments loaned and may also
receive compensation for the loan of the financial instrument.&#160; Any gain or loss in the market price of the
instruments loaned that may occur during the term of the loan will be for the
account of the Trust.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust may lend its portfolio instruments so long as the terms and
the structure of such loans are not inconsistent with the requirements of the
1940 Act, which currently require that (a)&nbsp;the borrower &#160;</font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='8',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">pledge
and maintain with the Trust collateral consisting of cash, a letter of credit
issued by a domestic U.S. bank, or securities issued or guaranteed by the
U.S.&#160; government having a value at all
times not less than 100% of the value of the instruments loaned, (b)&nbsp;the
borrowers add to such collateral whenever the price of the instruments loaned
rises (<i>i.e.</i>, the value of the
loan is marked to market on a daily basis), (c)&nbsp;the loan be made subject
to termination by the Trust at any time, and (d)&nbsp;the Trust receives
reasonable interest on the loan (which may include the Trust&#146;s investing any
cash collateral in interest bearing short-term investments), any distributions
on the loaned instruments and increase in their market value.&#160; The Trust may lend its portfolio instruments
to member banks of the Federal Reserve System, members of the New York Stock
Exchange (&#147;NYSE&#148;) or other entities determined by the Adviser or Sub-Adviser to
be creditworthy.&#160; All relevant facts and
circumstances, including the creditworthiness of the qualified institution,
will be monitored by the Adviser or Sub-Adviser, and will be considered in
making decisions with respect to the lending of portfolio instruments. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust may pay reasonable
negotiated fees in connection with loaned instruments.&#160; In addition, voting rights may pass with
loaned securities, but if a material event were to occur affecting such a loan,
the Trust will retain the right to call the loan and vote the securities.&#160; If a default occurs by the other party to
such transaction, the Trust will have contractual remedies pursuant to the
agreements related to the transaction, but such remedies may be subject to
bankruptcy and insolvency laws which could materially and adversely affect the
Trust&#146;s rights as a creditor.&#160; However,
the loans will be made only to firms deemed by the Adviser or Sub-Adviser to be
of good financial standing and when, in the judgment of the Adviser or
Sub-Adviser, the consideration which can be earned currently from loans of this
type justifies the attendant risk.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest Rate
Hedging Transactions</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust has the ability,
pursuant to its investment objectives and policies, to engage in certain
hedging transactions including interest rate swaps and the purchase or sale of
interest rate caps and floors. The Trust may undertake these transactions
primarily for the following reasons: to preserve a return on or value of a
particular investment or portion of the Trust&#146;s portfolio, to protect against
decreases in the anticipated rate of return on floating or variable rate
financial instruments which the Trust owns or anticipates purchasing at a later
date, or for other risk management strategies such as managing the effective
dollar-weighted average duration of the Trust&#146;s portfolio. Market conditions
will determine whether and in what circumstances the Trust would employ any of
the hedging techniques described below.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest rate swaps involve
the exchange by the Trust with another party of their respective commitments to
pay or receive interest, <i>e.g.</i>, an
exchange of an obligation to make floating rate payments on a specified dollar
amount, referred to as the &#147;notional&#148; principal amount, for an obligation to
make fixed rate payments. For example, the Trust may seek to shorten the
effective interest rate redetermination period of a Senior Loan in its
portfolio that has an interest rate redetermination period of one year. The
Trust could exchange its right to receive fixed-income payments for one year
from a borrower for the right to receive payments under an obligation that
readjusts monthly. In such an event, the Trust would consider the interest rate
redetermination period of such Senior Loan to be the shorter period.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The purchase of an interest
rate cap entitles the purchaser, to the extent that a specified index exceeds a
predetermined interest rate, to receive payments of interest on a notional
principal amount from the party selling such interest rate cap. The purchase of
an interest rate floor entitles the purchaser, to the extent that a specified
index falls below a predetermined interest rate, to receive payments of
interest on a notional principal amount from the party selling such interest
rate floor. The Trust will not enter into swaps, caps or floors if, on a net
basis, the aggregate notional principal amount with respect to such </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='9',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">agreements exceeds the net
assets of the Trust or to the extent the purchase of swaps, caps or floors
would be inconsistent with the Trust&#146;s other investment restrictions.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust will usually enter
into interest rate swaps on a net basis, <i>i.e</i>.,
where the two parties make net payments with the Trust receiving or paying, as
the case may be, only the net amount of the two payments. The net amount of the
excess, if any, of the Trust&#146;s obligations over its entitlement with respect to
each interest rate swap will be accrued and an amount of cash or liquid
securities having an aggregate NAV at least equal to the accrued excess will be
maintained in a segregated account. If the Trust enters into a swap on other
than a net basis, the Trust will maintain in the segregated account the full
amount of the Trust&#146;s obligations under each such swap. The Trust may enter
into swaps, caps and floors with member banks of the Federal Reserve System,
members of the NYSE or other entities determined by ING Investments. If a
default occurs by the other party to such transaction, the Trust will have
contractual remedies pursuant to the agreements related to the transaction but
such remedies may be subject to bankruptcy and insolvency laws which could
materially and adversely affect the Trust&#146;s rights as a creditor. The Trust
will not treat swaps covered in accordance with applicable regulatory guidance
as senior securities.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The swap, cap and floor
market has grown substantially in recent years with a large number of banks and
financial services firms acting both as principals and as agents utilizing
standardized swap documentation. As a result, this market has become relatively
liquid. There can be no assurance, however, that the Trust will be able to
enter into interest rate swaps or to purchase interest rate caps or floors at
prices or on terms the Adviser or Sub-Adviser believes are advantageous to the Trust.&#160; In addition, although the terms of interest
rate swaps, caps and floors may provide for termination, there can be no
assurance that the Trust will be able to terminate an interest rate swap or to
sell or offset interest rate caps or floors that it has purchased.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The successful utilization
of hedging and risk management transactions requires skills different from
those needed in the selection of the Trust&#146;s portfolio securities and depends
on the Adviser&#146;s or Sub-Adviser&#146;s ability to predict correctly the direction
and degree of movements in interest rates. Although the Trust believes that use
of the hedging and risk management techniques described above will benefit the
Trust, if the Adviser&#146;s or Sub-Adviser&#146;s judgment about the direction or extent
of the movement in interest rates is incorrect, the Trust&#146;s overall performance
would be worse than if it had not entered into any such transactions. The Trust
will incur brokerage and other costs in connection with its hedging
transactions.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Originating Senior
Loans &#150; Reliance on Agents</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust has the ability to
act as an agent in originating and administering a loan on behalf of all
lenders or as one of a group of co-agents in originating Senior Loans.&#160; However, the Trust has not acted as agent or
co-agent on any loans, and has no present intention of doing so in the
future.&#160; An agent for a loan is required
to administer and manage the Senior Loan and to service or monitor the
collateral.&#160; The agent is also
responsible for the collection of principal and interest and fee payments from
the borrower and the apportionment of these payments to the credit of all
lenders which are parties to the loan agreement.&#160; The agent is charged with the responsibility
of monitoring compliance by the borrower with the restrictive covenants in the
loan agreement and of notifying the lenders of any adverse change in the
borrower&#146;s financial condition.&#160; In
addition, the agent generally is responsible for determining that the lenders
have obtained a perfected security interest in the collateral securing the
Senior Loan.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lenders generally rely on
the agent to collect their portion of the payments on a Senior Loan and to use
the appropriate creditor remedies against the borrower.&#160; Typically under loan agreements, the agent is
given broad discretion in enforcing the loan agreement and is obligated to use
the same care it would </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='10',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">use in the management of its
own property.&#160; The borrower compensates
the agent for these services.&#160; Such
compensation may include special fees paid on structuring and funding the
Senior Loan and other fees on a continuing basis.&#160; The precise duties and rights of an agent are
defined in the loan agreement.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">When the Trust is an agent,
it has, as a party to the loan agreement, a direct contractual relationship
with the borrower and, prior to allocating portions of the loan to lenders, if
any, assumes all risks associated with the loan.&#160; The agent may enforce compliance by the
borrower with the terms of the loan agreement.&#160;
Agents also have voting and consent rights under the applicable loan
agreement.&#160; Action subject to agent vote
or consent generally requires the vote or consent of the holders of some
specified percentage of the outstanding principal amount of the Senior Loan,
which percentage varies depending on the relative loan agreement.&#160; Certain decisions, such as reducing the
amount or increasing the time for payment of interest on or repayment of
principal of a Senior Loan, or relating collateral therefor, frequently require
the unanimous vote or consent of all lenders affected.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the terms of a
loan agreement, the agent typically has sole responsibility for servicing and
administering a loan on behalf of the other lenders.&#160; Each lender in a Senior Loan is generally
responsible for performing its own credit analysis and its own investigation of
the financial condition of the borrower.&#160;
Generally, loan agreements will hold the agent liable for any action taken
or omitted that amounts to gross negligence or willful misconduct.&#160; In the event of a borrower&#146;s default on a
loan, the loan agreements provide that the lenders do not have recourse against
the Trust for its activities as agent.&#160;
Instead, lenders will be required to look to the borrower for recourse.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In a typical interest in a
Senior Loan, the agent administers the loan and has the right to monitor the
collateral.&#160; The agent is also required
to segregate the principal and interest payments received from the borrower and
to hold these payments for the benefit of the lenders.&#160; The Trust normally looks to the agent to
collect and distribute principal of and interest on a Senior Loan.&#160; Furthermore, the Trust looks to the agent to
use normal credit remedies, such as to foreclose on collateral, monitor credit
loan covenants, and notify the lenders of any adverse changes in the borrower&#146;s
financial condition or declarations of insolvency.&#160; At times the Trust may also negotiate with
the agent regarding the agent&#146;s exercise of credit remedies under a Senior
Loan.&#160; The agent is compensated for these
services by the borrower as set forth in the loan agreement.&#160; Such compensation may take the form of a fee
or other amount paid upon the making of the Senior Loan and/or an ongoing fee
or other amount.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The loan agreements in
connection with Senior Loans set forth the standard of care to be exercised by
the agents on behalf of the lenders and usually provide for the termination of
the agent&#146;s agency status in the event that it fails to act properly, becomes insolvent,
enters FDIC receivership, or if not FDIC insured, enters into bankruptcy or if
the agent resigns.&#160; In the event an agent
is unable to perform its obligations as agent, another lender would generally
serve in that capacity.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Additional
Information on Senior Loans</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Loans are direct
obligations of corporations or other business entities and are arranged by
banks or other commercial lending institutions and made generally to finance
internal growth, mergers, acquisitions, stock repurchases, and leveraged
buyouts.&#160; Senior Loans usually include
restrictive covenants which must be maintained by the borrower.&#160; Such covenants, in addition to the timely
payment of interest and principal, may include mandatory prepayment provisions
arising from free cash flow and restrictions on dividend payments, and usually
state that a borrower must maintain specific minimum financial ratios as well
as establishing limits on total debt.&#160; A
breach of covenant, which is not waived by the agent, is normally an event of acceleration,
<i>i.e.</i>, the agent has the right to
call the outstanding Senior Loan.&#160; In
addition, loan covenants may include mandatory prepayment provisions stemming
from free cash flow.&#160; Free cash flow is
cash that is in excess of capital expenditures plus debt service requirements </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='11',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of principal and
interest.&#160; The free cash flow shall be
applied to prepay the Senior Loan in an order of maturity described in the loan
documents.&#160; Under certain interests in Senior
Loans, the Trust may have an obligation to make additional loans upon demand by
the borrower.&#160; The Trust intends to
ensure its ability to satisfy such demands by segregating sufficient assets in
high quality short-term liquid investments or by sufficiently maintaining
unused borrowing capacity.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In a typical interest in a loan, the agent administers the loan and has
the right to monitor the collateral.&#160; The
agent is also required to segregate the principal and interest payments
received from the borrower and to hold these payments for the benefit of the
lenders.&#160; The Fund normally looks to the
agent to collect and distribute principal of and interest on a loan.&#160; Furthermore, the Fund looks to the agent to
use normal credit remedies, such as to foreclose on collateral, monitor loan
covenants, and notify the lenders of any adverse changes in the borrower&#146;s
financial condition or declarations of insolvency.&#160; At times the Fund may also negotiate with the
agent regarding the agent&#146;s exercise of credit remedies under a loan.&#160; The agent is compensated for these services
by the borrower as set forth in the loan agreement.&#160; Such compensation may take the form of a fee
or other amount paid upon the making of the loan and/or an ongoing fee or other
amount.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The loan agreements in connection with the loans set forth the standard
of care to be exercised by the agents on behalf of the lenders and usually
provide for the termination of the agent&#146;s agency status in the event that it
fails to act properly, becomes insolvent, enters FDIC receivership, or if not
FDIC insured, enters into bankruptcy or if the agent resigns.&#160; In the event an agent is unable to perform
its obligations as agent, another lender would generally serve in that capacity.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Fund believes that the principal credit risk associated with
acquiring loans from another lender is the credit risk associated with the
borrower of the underlying loan.&#160; The
Fund may incur additional credit risk, however, when the Fund acquires a
participation in a loan from another lender because the Fund must assume the
risk of insolvency or bankruptcy of the other lender from which the loan was
acquired.&#160; However, in acquiring loans,
the Fund conducts an analysis and evaluation of the financial condition of each
such lender.&#160; In this regard, if the
lenders have a long-term debt rating, the long-term debt of all such
participants is rated &#147;BBB&#148; or better by S&amp;P or &#147;Baa&#148; or better by Moody&#146;s,
or has received a comparable rating by another nationally recognized rating
service.&#160; In the absence of rated
long-term debt, the lenders or, with respect to a bank, the holding company of
such lenders have commercial paper outstanding which is rated at least &#147;A-1&#148; by
S&amp;P or &#147;P-1&#148; by Moody&#146;s.&#160; In the
absence of such rated long-term debt or rated commercial paper, the Fund may
acquire participations in loans from lenders whose long-term debt and
commercial paper is of comparable quality to the foregoing rating standards as
determined by the Adviser under the supervision of the Trustees.&#160; The Fund also diversifies its portfolio with
respect to lenders from which the Fund acquires loans.&#160; (See &#147;Investment Restrictions.&#148;) </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Loans, unlike certain
bonds, usually do not have call protection.&#160;
This means that investments comprising the Trust&#146;s portfolio, while
having a stated one to ten-year term, may be prepaid, often without
penalty.&#160; The Trust generally holds
Senior Loans to maturity unless it becomes necessary to sell them to adjust the
Trust&#146;s portfolio in accordance with the Adviser&#146;s or Sub-Adviser&#146;s view of
current or expected economic or specific industry or borrower conditions.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Loans frequently
require full or partial prepayment of a loan when there are asset sales or a
securities issuance.&#160; Prepayments on
Senior Loans may also be made by the borrower at its election.&#160; The rate of such prepayments may be affected
by, among other things, general business and economic conditions, as well as
the financial status of the borrower.&#160;
Prepayment would cause the actual duration of a Senior Loan to be
shorter than its stated maturity.&#160;
Prepayment may be deferred by the Trust.&#160;
This should, however, allow the Trust to reinvest in a new loan and
recognize as income any unamortized loan fees.&#160;
In many cases this will result in a new facility fee payable to the
Trust.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='12',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Because interest rates paid on these Senior Loans fluctuate
periodically with the market, it is expected that the prepayment and a
subsequent purchase of a new Senior Loan by the Trust will not have a material
adverse impact on the yield of the portfolio.&#160;
(See &#147;Portfolio Transactions.&#148;) </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under a Senior Loan, the
borrower generally must pledge as collateral assets which may include one or
more of the following: cash, accounts receivable, inventory, property, plant
and equipment, both common and preferred stock in its subsidiaries, trademarks,
copyrights, patent rights and franchise value.&#160;
The Trust may also receive guarantees as a form of collateral.&#160; In some instances, a Senior Loan may be
secured only by stock in a borrower or its affiliates.&#160; There is no assurance, however, that the
liquidation of the existing collateral would satisfy the borrower&#146;s obligation
in the event of nonpayment of scheduled interest or principal, or that such
collateral could be readily liquidated.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Loan Participation and Assignments</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust&#146;s investment in loan participations<b>  </b>typically will result in the Trust having a
contractual relationship only with the lender and not with the borrower.&#160; The Trust will have the right to receive
payments of principal, interest and any fees to which it is entitled only from
the lender selling the participation and only upon receipt by the lender of the
payments from the borrower.&#160; In
connection with purchasing participation, the Trust generally will have no
right to enforce compliance by the borrower with the terms of the loan
agreement relating to the loan, nor any right of set-off against the borrower,
and the Trust may not directly benefit from any collateral supporting the loan
in which it has purchased the participation.&#160;
As a result, the Trust may be subject to the credit risk of both the
borrower and the lender that is selling the participation.&#160; In the event of the insolvency of the lender
selling a participation, the Trust may be treated as a general creditor of the
lender and may not benefit from any set-off between the lender and the
borrower.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">When the Trust purchases a loan assignment from lenders, it will
acquire direct rights against the borrowers on the loan.&#160; Because assignments are arranged through
private negotiations between potential assignees and potential assignors,
however, the rights and obligations acquired by the Trust as the purchaser of
an assignment may differ from, and be more limited than, those held by the
assigning lender.&#160; Because there is no
liquid market for such securities, the Trust anticipates that such securities
could be sold only to a limited number of institutional investors.&#160; The lack of a liquid secondary market may
have an adverse impact on the value of such securities and the Trust&#146;s ability
to dispose of particular assignments or participation when necessary to meet
redemption of Trust shares, to meet the Trust&#146;s liquidity needs or when
necessary in response to a specific economic event, such as deterioration in
the creditworthiness of the borrower.&#160;
The lack of a liquid secondary market for assignments and participation
also may make it more difficult for the Trust to value these securities for
purposes of calculating its NAV.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">The Trust
may be required to pay and receive various fees and commissions in the process
of purchasing, selling and holding loans.&#160;
The fee component may include any, or a combination of, the following
elements:&#160; arrangement fees, assignment
fees, non-use fees, facility fees, letter of credit fees and ticking fees.&#160; Arrangement fees are paid at the commencement
of a loan as compensation for the initiation of the transaction.&#160; A non-use fee is paid based upon the amount
committed but not used under the loan.&#160;
Facility fees are on-going annual fees paid in connection with a
loan.&#160; Letter of credit fees are paid if
a loan involves a letter of credit.&#160;
Ticking fees are paid from the initial commitment indication until loan
closing if for an extended period.&#160; The
amount of fees is negotiated at the time of transaction.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='13',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-01.htm',USER='105546',CD='Jun 27 11:14 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">TRUSTESS AND OFFICERS</font></i></b></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Management of
the Trust</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust is governed by its
Board of Trustees (&#147;Board&#148;).&#160; A trustee
who is not an interested person of the Trust, as defined in the 1940 Act, as
amended, is an independent trustee (&#147;Independent Trustee&#148;).&#160; The Trustees of the Trust are listed below.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="20%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:20.0%;">
  <p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Name,&nbsp;Address&nbsp;and&nbsp;Age </font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Position(s)&nbsp;Held<br>
  With&nbsp;Trust</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Term&nbsp;of&nbsp;Office<br>
  and&nbsp;Length&nbsp;of<br>
  Time&nbsp;Served(1)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Principal&nbsp;Occupation(s)&nbsp;&#150;<br>
  During&nbsp;the&nbsp;Past&nbsp;5&nbsp;Years</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.76%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Number&nbsp;of<br>
  Funds&nbsp;in<br>
  Fund<br>
  Complex<br>
  Overseen&nbsp;by<br>
  Trustee(2)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="19%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Other&nbsp;Directorships/Trusteeships<br>
  Held&nbsp;by&nbsp;Trustee</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="9%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:7.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Independent Trustees</font></b></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Colleen D. Baldwin(3)</font></b><font size="1" face="Times New Roman" style="font-size:7.0pt;"><br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 48</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">August&nbsp;2007&#150;Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Consultant (January&nbsp;2005 to Present). Chief
  Operating Officer, Ivy Asset Management Group (April&nbsp;2002 &#150;
  October&nbsp;2004). </font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">None.</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">John V. Boyer</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 54</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee </font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">January&nbsp;2005 &#150; Present </font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">President, Bechtler Arts Foundation (March&nbsp;2008 &#150;
  Present) and Consultant (July&nbsp;2007 &#150; Present). Formerly, President and
  Chief Executive Officer, Franklin and Eleanor Roosevelt Institute
  (March&nbsp;2006 &#150; July&nbsp;2007), and Executive Director, The Mark Twain
  House&nbsp;&amp; Museum (4)&nbsp;(September&nbsp;1989 &#150; November&nbsp;2005).</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">None.</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Patricia W. Chadwick<br>
  </font></b><font size="1" style="font-size:7.0pt;">7337 East
  Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 59</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">January&nbsp;2006 &#150;&nbsp;
  Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Consultant and President of self-owned company,
  Ravengate Partners LLC (January&nbsp;2000 &#150; Present).</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Wisconsin Energy (June&nbsp;2006 &#150; Present).</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Peter S. Drotch(3)<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 66</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">August&nbsp;2007&#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Retired Partner, Pricewaterhouse Coopers LLP.</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">First Marblehead Corporation, ( October&nbsp;2003 &#150;
  Present); Tufts Health Plan, Director ( June&nbsp;2006 &#150; Present); and
  University of Connecticut, Trustee (November&nbsp;2004 &#150; Present).</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">J. Michael Earley</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 63</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">February&nbsp;2002 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">President, Chief Executive Officer and Director,
  Bankers Trust Company, N.A., Des Moines (June&nbsp;1992 &#150; Present).</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Midamerica Financial Corporation (December&nbsp;2002 &#150;
  Present).</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Patrick W. Kenny<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age:
  65</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">January&nbsp;2005 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">President and Chief Executive Officer, International
  Insurance Society (June&nbsp;2001 &#150; Present). </font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Assured Guaranty Ltd. (April&nbsp;2004 &#150; Present);
  and Odyssey Reinsurance Holdings (November&nbsp;2006 &#150; Present).</font></p>
  </td>
 </tr>
</table>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='14',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-03.htm',USER='105546',CD='Jun 27 11:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="20%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:20.0%;">
  <p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Name,&nbsp;Address&nbsp;and&nbsp;Age </font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Position(s)&nbsp;Held<br>
  With&nbsp;Trust</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Term&nbsp;of&nbsp;Office<br>
  and&nbsp;Length&nbsp;of<br>
  Time&nbsp;Served(1)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Principal&nbsp;Occupation(s)&nbsp;&#150;<br>
  During&nbsp;the&nbsp;Past&nbsp;5&nbsp;Years</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.76%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Number&nbsp;of<br>
  Funds&nbsp;in<br>
  Fund<br>
  Complex<br>
  Overseen&nbsp;by<br>
  Trustee(2)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="19%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Other&nbsp;Directorships/Trusteeships<br>
  Held&nbsp;by&nbsp;Trustee</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="9%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:7.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Sheryl K. Pressler</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 57</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">January&nbsp;2006 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Consultant (May&nbsp;2001 &#150; Present). </font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Global Alternative Asset Management,&nbsp;Inc.
  (October&nbsp;2007 &#150; Present); Stillwater Mining Company (May&nbsp;2002 &#150;
  Present); California HealthCare Foundation (June&nbsp;1999 &#150; Present); and
  Romanian &#150; American Enterprise Fund (February&nbsp;2004 &#150; Present).</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Roger B. Vincent</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 62</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">February&nbsp;2002 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">President, Springwell Corporation (March&nbsp;1989 &#150;
  Present).&nbsp; </font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">UGI Corporation (February&nbsp;2006 &#150; Present); and
  UGI Utilities,&nbsp;Inc. (February&nbsp;2006 &#150; Present).</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" colspan="3" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:31.52%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Trustees who are &#147;Interested Persons&#148;</font></b></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Robert W. Crispin(3)(5)<br>
  </font></b><font size="1" style="font-size:7.0pt;">7337 East
  Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br> Age: 61</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">August&nbsp;2007 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Retired Chairman and Chief Executive Officer, ING
  Investment Management Co (June&nbsp;2001 &#150; December, 2007).&nbsp; </font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">ING Life Insurance and Annuity Company (May&nbsp;2006
  &#150; Present); ING USA Annuity and Life Insurance Company (May&nbsp;2006 &#150;
  Present); Midwestern United Life Insurance Company (May&nbsp;2006 &#150; Present);
  Reliastar Life Insurance Company (May&nbsp;2006 &#150; Present); Security Life of
  Denver Insurance Company (May&nbsp;2006 &#150; Present); Belair Insurance Company
  Inc. (August&nbsp;2005 &#150; Present); The Nordic Insurance Company of Canada
  (February&nbsp;2005 &#150; Present); Trafalgar Insurance Company of Canada
  (February&nbsp;2005 &#150; Present); ING Novex Insurance Company of Canada
  (February&nbsp;2005 &#150; Present); Allianz Insurance Company of Canada&nbsp; (February&nbsp;2005 &#150; Present); ING Canada
  Inc. (December&nbsp;2004 &#150; Present); ING Bank fsb (June&nbsp;2001-Present); ING
  Investment Management,&nbsp;Inc. (June&nbsp;2001 &#150; December&nbsp;2007); ING
  Insurance Company of Canada (June&nbsp;2001 &#150; Present); Sul America S.A.
  (June&nbsp;2001 &#150; Present) and ING Foundation (March&nbsp;2004 &#150; Present).</font></p>
  </td>
 </tr>
</table>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='15',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-03.htm',USER='105546',CD='Jun 27 11:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="20%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:20.0%;">
  <p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Name,&nbsp;Address&nbsp;and&nbsp;Age </font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Position(s)&nbsp;Held<br>
  With&nbsp;Trust</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Term&nbsp;of&nbsp;Office<br>
  and&nbsp;Length&nbsp;of<br>
  Time&nbsp;Served(1)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Principal&nbsp;Occupation(s)&nbsp;&#150;<br>
  During&nbsp;the&nbsp;Past&nbsp;5&nbsp;Years</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.76%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Number&nbsp;of<br>
  Funds&nbsp;in<br>
  Fund<br>
  Complex<br>
  Overseen&nbsp;by<br>
  Trustee(2)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="19%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="color:black;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:7.0pt;">Other&nbsp;Directorships/Trusteeships<br>
  Held&nbsp;by&nbsp;Trustee</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="9%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="7%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:7.76%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Shaun P. Mathews (4)&nbsp;(5)(6)<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258</font><font size="1" style="font-size:7.0pt;"><br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age:&nbsp; 52</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.1%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Trustee </font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:9.72%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">June&nbsp;2006 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.86%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">President and Chief Executive Officer, ING
  Investments, LLC (December&nbsp;2006 &#150; Present); President ING Mutual Funds
  and Investment Products (November&nbsp;2004 &#150; November&nbsp;2006). Formerly,
  CMO, ING USFS (April&nbsp;2002 &#150; October&nbsp;2004); and&nbsp; Head of Rollover/Payout (October&nbsp;2001 &#150;
  December&nbsp;2003).</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.4%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">212</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.24%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Mark Twain House&nbsp;&amp; Museum
  (September&nbsp;2002 &#150; Present); Connecticut Forum (May&nbsp;2002 &#150; Present);
  Capital Community College Foundation (February&nbsp;2002 &#150; Present); ING
  Services Holding Company,&nbsp;Inc. (May&nbsp;2000 &#150; Present); Southland Life
  Insurance Company (June&nbsp;2002 &#150; Present); and ING Capital Corporation,
  LLC, ING Funds Distributor, LLC(7), ING Funds Services, LLC(8), ING
  Investments, LLC and ING Pilgrim Funding,&nbsp;Inc. (March&nbsp;2006 &#150;
  Present).</font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustees serve until their successors are duly elected and qualified,
  subject to the Board&#146;s retirement policy which states that each duly elected
  or appointed Trustee who is not an &#147;interested person&#148; of the Trusts, as
  defined in the 1940 Act, as amended (&#147;Independent Trustees&#148;), shall retire
  from service as a Trustee at the first regularly scheduled quarterly meeting
  of the Board that is held after: (a)&nbsp;the Trustee reaches the age 70, if
  that Trustee qualifies for a retirement benefit as discussed in the Board&#146;s
  retirement policy: or (b)&nbsp;the Trustee reaches the age of 72 or has
  served as a Trustee for 15 years, if that Trustee does not qualify for the
  retirement benefit. A unanimous vote of the Board may extend the retirement
  date of a Trustee for up to one year. An extension may be permitted if the
  retirement would trigger a requirement to hold a meeting of shareholders of
  the Trust under applicable law, whether for purposes of appointing a
  successor to the Trustee or if otherwise necessary under applicable law, in
  which case the extension would apply until such time as the shareholder
  meeting can be held or is no longer needed.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2) </font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">For the purposes of this
  table (except for Mr.&nbsp;Mathews), &#147;Fund Complex&#148; means the following
  investment companies:&nbsp; ING GET Fund; ING Series&nbsp;Fund,&nbsp;Inc.;
  ING Strategic Allocation Portfolios,&nbsp;Inc.; ING VP Balanced
  Portfolio,&nbsp;Inc.; ING VP Intermediate Bond Portfolio; ING VP Money Market
  Portfolio; ING Variable Funds; and ING Variable Portfolios,&nbsp;Inc.&nbsp;
  The number of Funds in the Fund Complex is as of May&nbsp;31, 2008.
  &nbsp;&nbsp;For Mr.&nbsp;Mathews, the Fund Complex also includes the
  following investment companies: ING Asia Pacific High Dividend Equity Income
  Fund; ING Equity Trust; ING Funds Trust; ING Global Advantage and Premium
  Opportunity Fund; ING Global Equity Dividend and Premium Opportunity Fund;
  ING Infrastructure Development Equity Fund; ING International High Dividend
  Equity Income Fund; ING Investment Funds,&nbsp;Inc.; ING Investors Trust; ING
  Mayflower Trust; ING Mutual Funds; ING Prime Rate Trust; ING Risk Managed
  Natural Resources Fund; ING Senior Income Fund; ING Separate Portfolios
  Trust; ING Variable Insurance Trust; ING Variable Products Trust; and ING
  Partners,&nbsp;Inc.</font> The number of Funds in the Fund Complex is as of
  May&nbsp;31, 2008.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3) </font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ms.&nbsp;Baldwin
  and Messrs.&nbsp;Crispin and Drotch each commenced services as a Trustee
  August&nbsp;23, 2007.</font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shaun
  Mathews, President and Chief Executive Officer, ING Investments, LLC, and
  Head of ING USFS Mutual Funds and Investment Products, has held a seat on the
  Board of Directors of The Mark Twain House&nbsp;&amp; Museum since
  September&nbsp;19, 2002. ING Groep N.V. makes non-material, charitable contributions
  to The Mark Twain House&nbsp;&amp; Museum.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5) </font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Messrs.&nbsp;Crispin
  and. Mathews are deemed to be &#147;interested persons&#148; of the Trust as defined in
  the 1940 Act because of their relationship with ING Groep., N.V., the parent
  corporation of the Adviser, ING Investments, LLC and the distributor, ING
  Funds Distributor, LLC.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Mathews is also a
  director of the following investment companies: ING VP Balanced
  Portfolio,&nbsp;Inc.; ING Strategic Allocation Portfolio,&nbsp;Inc.; ING GET
  Fund; ING VP Intermediate Bond Portfolio; ING VP Money Market Portfolio; ING
  Variable Funds; ING Variable Portfolios,&nbsp;Inc.; and ING
  Series&nbsp;Fund,&nbsp;Inc. Therefore, for the purposes of this table with
  reference to Mr.&nbsp;Mathews, &#147;Fund Complex&#148; includes these investment
  companies.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Funds
  Distributor, LLC is the successor in interest to ING Funds
  Distributor,&nbsp;Inc. which was previously known as ING Pilgrim
  Securities,&nbsp;Inc. and prior to that was known as Pilgrim America
  Securities,&nbsp;Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.58%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Funds
  Services, LLC was previously named ING Pilgrim Group, LLC. ING Pilgrim Group,
  LLC is the successor in interest to ING Pilgrim,&nbsp;Inc. which was
  previously known as Pilgrim Group,&nbsp;Inc. and prior to that was known as
  Pilgrim America Group,&nbsp;Inc.</font></p>
  </td>
 </tr>
</table>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='16',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-03.htm',USER='105546',CD='Jun 27 11:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;text-indent:-.25in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Officers</font></b></p>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;text-indent:-.25in;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Information about the ING
Funds&#146; Officers are set forth in the table below:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="18%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Name,
  Address and Age </font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Positions
  Held with the Trust</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Term of
  Office and Length of Time Served (1)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="33%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:33.16%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Principal
  Occupation(s)&nbsp;During the Last Five Years</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="33%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Shaun P. Mathews(4)<br>
  </font></b><font size="1" style="font-size:7.0pt;">7337 East
  Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 52</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">President
  and Chief Executive Officer</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">November&nbsp;2006 &#150; Present<br> &nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">President and Chief Executive Officer, ING
  Investments, LLC&nbsp; (November&nbsp;2006 &#150;
  Present), President ING Mutual Funds and Investment Products
  (November&nbsp;2004 &#150; November&nbsp;2006), and Chief Marketing Officer USFS
  (April&nbsp;2002 &#150; October&nbsp;2004), an Head of Rollover/Payout
  (October&nbsp;2001 &#150; December&nbsp;2003).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Stanley D. Vyner</font></b><font size="1" style="font-size:7.0pt;"><br>
  230 Park Avenue<br>
  New York, New York 10169<br>
  Age: 58</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Executive Vice President</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">August&nbsp;2003 &#150; Present<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Executive Vice President, ING Investments,
  LLC(2)&nbsp;(July&nbsp;2000 &#150; Present); and Chief Investment Risk Officer,
  ING Investments, LLC(2)&nbsp;(January&nbsp;2003 &#150; Present).&nbsp; Formerly, Chief Investment Officer of
  International Investments (August&nbsp;2000 &#150; January&nbsp;2003). </font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Michael J. Roland</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 50</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Executive
  Vice President<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">February&nbsp;2002
  &#150; Present<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Head of Mutual
  Fund Platform (February&nbsp;2007 &#150; Present); and Executive Vice President,
  ING Investments, LLC(2)&nbsp;and ING Funds Services, LLC(3).&nbsp; Formerly, Head of Product Management
  (January&nbsp;2005 &#150; January&nbsp;2007); Chief Compliance Officer, ING
  Investments, LLC(2)&nbsp;and Directed Services LLC(5)&nbsp;(October&nbsp;2004
  &#150; December&nbsp;2005); and Chief Financial Officer and Treasurer, ING
  Investments, LLC(2)&nbsp;(December&nbsp;2001 &#150; March&nbsp;2005).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.9%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Joseph M.
  O&#146;Donnell<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258</font><font size="1" style="font-size:7.0pt;"><br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age:
  53</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Executive Vice President</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Chief Compliance Officer</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">March&nbsp;2006 &#150; Present</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">November&nbsp;2004 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Chief Compliance Officer of the ING Funds
  (November&nbsp;2004 &#150; Present); ING Investments, LLC(2)&nbsp;and Directed
  Services LLC(5)&nbsp;(March&nbsp;2006 &#150; Present) and Executive Vice President
  of the ING Funds (March&nbsp;2006 &#150; Present). Formerly, Chief Compliance
  Officer of ING Life Insurance and Annuity Company (March&nbsp;2006 &#150;
  December&nbsp;2006); Vice President, Chief Legal Counsel, Chief Compliance
  Officer and Secretary of Atlas Securities,&nbsp;Inc., Atlas
  Advisers,&nbsp;Inc. and Atlas Funds (October&nbsp;2001 &#150; October&nbsp;2004).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.9%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Todd Modic</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 40</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President, Chief/Principal Financial
  Officer and Assistant Secretary<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">March&nbsp;2005 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President, ING Funds Services,
  LLC(3)&nbsp;(April&nbsp;2005 &#150; Present).&nbsp;
  Formerly, Vice President, ING Funds Services,
  LLC(3)&nbsp;(September&nbsp;2002 &#150; March&nbsp;2005).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.9%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.9%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Daniel A. Norman<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258</font><font size="1" style="font-size:7.0pt;"><br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age:
  50</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Treasurer<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">April&nbsp;1995 &#150; Present</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">June&nbsp;1997 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice
  President and Senior Portfolio Manager, ING Senior Debt Group, ING Investment
  Management Co. (November&nbsp;1999 &#150; Present).</font></p>
  </td>
 </tr>
</table>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='17',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-03.htm',USER='105546',CD='Jun 27 11:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="18%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Name,
  Address and Age </font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.42%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Positions
  Held with the Trust</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="26%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:26.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Term of
  Office and Length of Time Served (1)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="33%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:33.16%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Principal
  Occupation(s)&nbsp;During the Last Five Years</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="26%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="33%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric ideograph-other;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Curtis
  F. Lee<br>
  </font></b><font size="1" style="font-size:7.0pt;">7337 East
  Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 54</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt 12.0pt;page-break-after:avoid;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President and Chief Credit Officer</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt 12.0pt;page-break-after:avoid;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt 12.0pt;page-break-after:avoid;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">February&nbsp;2001
  &#150; Present<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President and Chief Credit Officer, ING
  Senior Loan Group, ING Investment Management Co. (January&nbsp;2001 &#150;
  Present).&nbsp; </font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric ideograph-other;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt 12.0pt;page-break-after:avoid;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt 12.0pt;page-break-after:avoid;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt 12.0pt;page-break-after:avoid;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt 12.0pt;page-break-after:avoid;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Jeffrey A.
  Bakalar<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age</font><font size="1" style="font-size:7.0pt;font-weight:normal;">: </font><font size="1" style="font-size:7.0pt;font-weight:normal;">48</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">November&nbsp;1999 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President and Group Head, ING Senior Loan
  Group, ING Investment Management Co. (January&nbsp;2000 &#150; Present). </font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Elliot A. Rosen<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age</font><font size="1" style="font-size:7.0pt;font-weight:normal;">: </font><font size="1" style="font-size:7.0pt;font-weight:normal;">55</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">May&nbsp;2002 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President, ING Senior Loan Group, ING
  Investment Management Co. (February&nbsp;1999 &#150; Present).<br><br></font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">William H. Rivoir
  III<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258</font><font size="1" style="font-size:7.0pt;"><br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age:
  57</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President and Assistant Secretary</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">February&nbsp;2001 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President, ING Senior Loan Group, ING
  Investment Management Co. (January&nbsp;2004 &#150; Present). Formerly, Counsel,
  ING USFS Law Department (January&nbsp;2003 &#150; December&nbsp;2003).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Kimberly A. Anderson</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 43</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">November&nbsp;2003 &#150; Present<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President, ING Investments,
  LLC(2)&nbsp;(October&nbsp;2003 &#150; Present). Formerly, Vice President and
  Assistant Secretary, ING Investments, LLC(2)&nbsp;(January&nbsp;2001 &#150;
  October&nbsp;2003).<br><br></font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Robert
  Terris<br>
  </font></b><font size="1" style="font-size:7.0pt;">7337 East
  Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age:&nbsp; 38<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice President</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">May&nbsp;2006 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Vice
  President, Head of Division Operations, ING Funds (May&nbsp;2006 &#150; Present);
  and Vice President, Head of Division Operations, ING Funds Services, LLC
  (3)&nbsp;(March&nbsp;2006 &#150; Present).&nbsp;
  Formerly, Vice President of Administration, ING Funds Services,
  LLC(3)&nbsp;(October&nbsp;2001 &#150;March&nbsp; 2006).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Robyn L. Ichilov<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258</font><font size="1" style="font-size:7.0pt;"><br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age:
  40</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">November&nbsp;1997 &#150; Present<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President and Treasurer, ING Funds Services,
  LLC(3)&nbsp;(October&nbsp;2001 &#150; Present) and ING Investments,
  LLC(2)&nbsp;(August&nbsp;1997 &#150; Present).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Lauren D. Bensinger</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 54</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">August&nbsp;2003 &#150; Present<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President and Chief Compliance Officer, ING
  Funds Distributor, LLC(6)&nbsp;(July&nbsp;1995 &#150; Present); and Vice
  President, ING Investment, LLC(2)&nbsp;(February&nbsp;1996 &#150; Present) and Director
  of Compliance, ING Investments, LLC(2)&nbsp;(October&nbsp;2004 &#150;
  Present).&nbsp; Formerly, Chief Compliance
  Officer, ING Investments, LLC(2)&nbsp;(October&nbsp;2001 &#150;
  October&nbsp;2004).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Maria M. Anderson<br>
  </font></b><font size="1" style="font-size:7.0pt;">7337 East
  Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 50</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">September&nbsp;2004 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President, ING Funds Services,
  LLC(3)&nbsp;(September&nbsp;2004 &#150; Present).&nbsp;
  Formerly, Assistant Vice President, ING Funds Services,
  LLC(3)&nbsp;(October&nbsp;2001 &#150; September&nbsp;2004).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Denise
  Lewis<br>
  </font></b><font size="1" style="font-size:7.0pt;">7337 East
  Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age:&nbsp; 44</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt -.55pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.42%;">
  <p style="margin:0in 0in .0001pt -.55pt;page-break-after:avoid;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.0%;">
  <p style="margin:0in 0in .0001pt 12.0pt;text-autospace:none;text-indent:-12.0pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">January&nbsp;2007 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.16%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President, ING Funds Services,
  LLC(3)&nbsp;(December&nbsp;2006 &#150; Present).&nbsp; Formerly, Senior Vice
  President, UMB Investment Services Group, LLC (November&nbsp;2003 &#150;
  December&nbsp;2006); and Vice President, Wells Fargo Funds Management, LLC
  (December&nbsp;2000 &#150; August&nbsp;2003).</font></p>
  </td>
 </tr>
</table>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='18',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-03.htm',USER='105546',CD='Jun 27 11:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="18%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Name,
  Address and Age </font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Positions
  Held with the Trust</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Term of
  Office and Length of Time Served (1)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="33%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:33.14%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Principal
  Occupation(s)&nbsp;During the Last Five Years</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="33%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">William Evans<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">10 State House Square<br>
  Hartford, Ct 06103<br>
  Age: 35</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">September&nbsp;2007 - Present<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President, Head of Mutual Fund Advisory Group
  (April&nbsp;2007 &#150; Present), Vice President, U.S. Mutual Funds and Investment
  Products (May&nbsp;2005 &#150; April&nbsp;2007), Senior Fund Analyst, U.S. Mutual
  Funds and Investment Products (May&nbsp;2002 &#150; May&nbsp;2005).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Kimberly K.
  Springer<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258</font><font size="1" style="font-size:7.0pt;"><br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age:
  51</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">March&nbsp;2006 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Vice President, ING Funds Services,
  LLC(3)&nbsp;(March&nbsp;2006 &#150; Present). Formerly, Assistant Vice President,
  ING Funds Services, LLC(3)&nbsp;(August&nbsp;2004 &#150; March&nbsp;2006),
  Manager, Registration Statements, ING Funds Services, LLC(3)&nbsp;(May&nbsp;2003
  &#150; August&nbsp;2004); Associate Partner, AMVESCAP PLC (October&nbsp;2000 &#150;
  May&nbsp;2003); and Director of Federal Filings and Blue Sky Filings, INVESCO
  Funds Group,&nbsp;Inc. (March&nbsp;1994 &#150; May&nbsp;2003).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Susan P.&nbsp; Kinens<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258<br>
  Age: 31</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Assistant Vice
  President </font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">February&nbsp;2003 &#150; Present<br><br></font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Assistant Vice President, ING Funds Services,
  LLC(3)&nbsp;(December&nbsp;2002 &#150; Present); and has held various other
  positions with ING Funds Services, LLC(3)&nbsp;for more than the last five
  years.</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Craig Wheeler<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258</font><font size="1" style="font-size:7.0pt;"><br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age: 39</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Assistant Vice
  President</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">May&nbsp;2008</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Assistant Vice President &#150; Director of Tax, ING Funds
  Services (March&nbsp;2008 &#150; Present). Formerly, Tax Manager, ING Funds
  Services (March&nbsp;2005 &#150; March&nbsp;2008); Tax Senior, ING Funds Services
  (January&nbsp;2004 &#150; March&nbsp;2005); and Tax Senior, KPMG LLP
  (August&nbsp;2002 &#150; December&nbsp;2003).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Huey P. Falgout,&nbsp;Jr.</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, AZ&nbsp; 85258<br>
  Age: 44</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Secretary</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">August&nbsp;2003 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Chief Counsel, ING Americas, U.S. Legal Services
  (September&nbsp;2003 &#150; Present).&nbsp;
  Formerly, Counsel, ING Americas, U.S. Legal Services
  (November&nbsp;2002 &#150; September&nbsp;2003).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">Theresa K. Kelety</font></b><font size="1" style="font-size:7.0pt;"><br>
  7337 East Doubletree Ranch Rd.<br>
  Scottsdale, AZ&nbsp; 85258<br>
  Age: 45</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Assistant
  Secretary</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">August&nbsp;2003 &#150; Present</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Senior Counsel, ING Americas, U.S. Legal Services
  (April&nbsp;2003 &#150; Present). Formerly, Senior Associate with
  Shearman&nbsp;&amp; Sterling (February&nbsp;2000 &#150; April&nbsp;2003).</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" style="padding:0in 0in 0in 0in;width:18.92%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:18.92%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="1" face="Times New Roman" style="font-size:7.0pt;">Kathleen Nichols<br>
  </font></b><font size="1" style="font-size:7.0pt;font-weight:normal;">7337 East Doubletree Ranch Rd.<br>
  Scottsdale, Arizona 85258</font><font size="1" style="font-size:7.0pt;"><br>
  </font><font size="1" style="font-size:7.0pt;font-weight:normal;">Age: 32</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.32%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:-.55pt;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Assistant
  Secretary</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.68%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">May&nbsp;2008</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.6%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.14%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">Counsel, ING Americas, U.S. Legal Services
  (February&nbsp;2008 &#150; Present). Formerly, Associate, Ropes&nbsp;&amp; Gray
  LLP (September&nbsp;2005 &#150; February&nbsp;2008).</font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  Officers hold office until the next annual meeting of the Trustees and until
  their successors shall have been elected and qualified.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Investments, LLC was previously named ING Pilgrim Investments, LLC. ING
  Pilgrim Investments, LLC is the sucessor in interest to ING Pilgrim
  Investments,&nbsp;Inc., which was previously known as Pilgrim
  Investments,&nbsp;Inc. and before that was known as Pilgrim America
  Investments,&nbsp;Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Funds Services, LLC was previously named ING Pilgrim Group, LLC. ING Pilgrim
  Group, LLC is the sucessor in interest to ING Pilgrim Group,&nbsp;Inc., which
  was previously known as Pilgrim Group,&nbsp;Inc. and before that was known as
  Pilgrim America Group,&nbsp;Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Mathews
  commenced service as the President and Chief Executive Officer on
  November&nbsp;9, 2006.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Directed
  Services LLC is the successor in interest to Directed Services,&nbsp;Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <h1 style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><i><font size="1" face="Times New Roman" style="font-size:9.0pt;font-style:normal;">(6)</font></i></h1>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <h1 style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><i><font size="1" face="Times New Roman" style="font-size:1.0pt;font-style:normal;">&nbsp;</font></i></h1>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.44%;">
  <h1 style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><i><font size="1" face="Times New Roman" style="font-size:9.0pt;font-style:normal;">ING Funds Distributor, LLC is the sucessor in
  interest to ING Funds Distributor,&nbsp;Inc., which was previously known as
  ING Pilgrim Securities,&nbsp;Inc., and before that was known as Pilgrim Securities,&nbsp;Inc.,
  and before that was known as Pilgrim America Securities,&nbsp;Inc.</font></i></h1>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='19',FILE='C:\JMS\105546\08-11032-6\task3008179\11032-6-bi-03.htm',USER='105546',CD='Jun 27 11:16 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Board</font></i></b></h1>

<h1 style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></i></b></h1>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Board governs the Trust
and is responsible for protecting the interests of shareholders.&#160; The Trustees are experienced executives who
oversee the Trust&#146;s activities, review contractual arrangements with companies
that provide services to the Trust, and review the Trust&#146;s performance.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Frequency
of Board Meetings</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Board currently conducts
regular meetings eight (8)&nbsp;times a year.&#160;
The Audit Committee and the Compliance Committee each meets regularly
four (4)&nbsp;times per year; the
Investment Review Committees meet six (6)&nbsp;times per year; the Contracts
Committee meets seven (7)&nbsp;times per year; and the remaining Committees
meet as needed.&#160; In addition, the Board
or the Committees may hold special meetings by telephone or in person to
discuss specific matters that may require action prior to the next regular
meeting.&#160;&#160; Each Committee listed below
operates pursuant to a Charter approved by the Board.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Recent
Committee Changes</font></i></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;</font></i></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effective March&nbsp;27,
2008, November&nbsp;28, 2007, and May&nbsp;10, 2007, changes were made to the
Board&#146;s Committee structure.&#160; In
particular, the Committee memberships changed on those dates, and these changes
are reflected in the discussion of the Committees that is set out below.&#160; Prior to May&nbsp;10, 2007, the Board had a
Valuation, Proxy and Brokerage Committee.&#160;
Effective May&nbsp;10, 2007, the functions of the Valuation, Proxy and
Brokerage Committee and the Compliance Committee were combined.&#160; The Compliance Committee was the surviving
Committee, and now oversees valuation, proxy and brokerage matters, as well as
compliance issues.&#160; We also note that
Roger Vincent became the Chairman of the Board effective May&nbsp;10,
2007.&#160; Prior to that date, Jock Patton
served as the Chairman of the Board.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Committees</font></i></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;</font></i></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Executive Committee.</font></i></b><font size="2" style="font-size:10.0pt;">&#160; The Board has established an Executive
Committee whose function is to act on behalf of the full Board between
meetings, when necessary.&#160; The Executive Committee currently consists of
three (3)&nbsp;Independent Trustees and two (2)&nbsp;Trustees who are &#147;interested
persons,&#148; as defined in the 1940 Act of the Trust.&#160; The following Trustees serve as members of
the Executive Committee:&#160; Ms.&nbsp;Pressler
and Messrs.&nbsp;Boyer, Crispin, Mathews and Vincent.&#160; Mr.&nbsp;Vincent, Chairman of the Board,
serves as the Chairperson of the Executive Committee. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">From May&nbsp;10, 2007 to November&nbsp;28,
2007, the Executive Committee consisted of the following Trustees: Ms.&nbsp;Pressler
and Messrs.&nbsp;Turner, Boyer and Vincent and Mr.&nbsp;Vincent served as the
Chairperson. Prior to May&nbsp;10, 2007 the following Trustees served as
members of the Executive Committee:&#160; Messrs.&nbsp;Turner,
Vincent and Patton.&#160; Mr.&nbsp;Patton
served as Chairperson of the Executive Committee.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Executive Committee held five (5)&nbsp;meetings during the fiscal
year ended February&nbsp;29, 2008. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Audit Committee.&#160; </font></i></b><font size="2" style="font-size:10.0pt;">The Board has
established an Audit Committee whose functions include, among others, meeting
with the independent registered public accounting firm of the Trust to review
the scope of the Trust&#146;s audit, its financial statements and interim accounting
controls, and meeting with management concerning these matters.&#160; The Audit Committee currently consists of
three (3)&nbsp;Independent Trustees.&#160; The
following Trustees serve as members of the Audit Committee:&#160; Ms.&nbsp;Chadwick and Messrs.&nbsp;Drotch and
Earley.&#160; Mr.&nbsp;Earley currently serves
as Chairperson of the Audit Committee, and also has been designated as the
Audit Committee&#146;s financial expert under the Sarbanes-Oxley Act.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='20',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">From May&nbsp;10, 2007 to November&nbsp;28, 2007 the Audit Committee
consisted of the following Trustees: Ms.&nbsp;Chadwick and Messrs.&nbsp;Earley
and Putnam. Mr.&nbsp;Early served as the Chairperson and the financial expert
under the Sarbanes-Oxley Act for the Committee. Prior to May&nbsp;10, 2007, the
following Trustees served as members of the Audit Committee:&#160; Messrs.&nbsp;Earley, Kenny, Vincent and
Putnam and Ms.&nbsp;Pressler.&#160; During the
period prior to May&nbsp;10, 2007, Mr.&nbsp;Earley served as Chairperson of the
Audit Committee, and Mr.&nbsp;Kenny was designated as the Audit Committee&#146;s
financial expert under the Sarbanes-Oxley Act. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Audit Committee held six
(6)&nbsp;meetings during the fiscal year ended February&nbsp;29, 2008.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Compliance
Committee.&#160; </font></i></b>The
Board has established a Compliance Committee for the purpose of, among others
things, coordinating activities between the Board and the Chief Compliance
Officer (&#147;CCO&#148;) of the Trust.&#160; The
Compliance Committee facilitates&nbsp;the information flow among Board members
and the CCO between Board meetings; works with the CCO and management to
identify the types of reports to be submitted by the CCO to the Compliance
Committee and the Board; coordinates CCO oversight activities with other ING
Fund boards; and makes recommendations regarding the role, performance and
oversight of the CCO.&#160; The Board also
oversees quarterly compliance reporting.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effective May&nbsp;10, 2007, the functions of the Board&#146;s Valuation,
Proxy and Brokerage Committee were combined with the functions of the
Compliance Committee.&#160; As a result of
this combination, the functions of the Compliance Committee now include
determining the value of securities held by the Trust for which market value
quotations are not readily available; overseeing management&#146;s administration of
proxy voting; and overseeing the effectiveness of the investment adviser&#146;s
usage of the Trust&#146;s brokerage and the adviser&#146;s compliance with changing
regulations regarding the allocation of brokerage for services (other than pure
trade executions).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Compliance
Committee consists of five (5)&nbsp;Independent Trustees: Messes. Baldwin and
Pressler and Messrs.&nbsp;Boyer, Kenny and Vincent. Mr.&nbsp;Kenny currently
serves as Chairperson of the Compliance Committee. </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">From May&nbsp;10, 2007 to November&nbsp;28, 2007, the Compliance
Committee consisted of the following Trustees: Ms.&nbsp;Pressler and Messrs.&nbsp;Boyer,
Kenny and Vincent. Mr.&nbsp;Kenny served as the Chairperson for the Committee.
Prior to May&nbsp;10, 2007, the Compliance Committee consisted of five (5)&nbsp;Independent
Trustees:&#160; Messrs.&nbsp;Boyer, Earley,
Putnam, Kenny and Patton.&#160; Mr.&nbsp;Kenny
served as Chairperson of the Compliance Committee during the period prior to May&nbsp;10,
2007.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Compliance Committee held four (4)&nbsp;<strong style="letter-spacing:0pt;"><b style="font-weight:normal;letter-spacing:-.1pt;">meetings</b></strong><b style="letter-spacing:-.1pt;">  </b>during the fiscal
year ended February&nbsp;29, 2008.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Valuation, Proxy and Brokerage Committee.&#160; </font></i></b><font size="2" style="font-size:10.0pt;">As is discussed above, prior
to May&nbsp;10, 2007 the Board had a Valuation, Proxy and Brokerage
Committee.&#160; On that date, the Board&#146;s
Committees were reconstituted and the functions of the Valuation, Proxy and
Brokerage Committee were combined with that of the Compliance Committee, and
the reconstituted Compliance Committee was the surviving Committee.&#160;&#160; The Compliance Committee now oversees
valuation, proxy voting and brokerage matters formerly overseen by the
Valuation, Proxy and Brokerage Committee.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to May&nbsp;10, 2007,
the Valuation, Proxy and Brokerage Committee functions included, among
others:&#160; reviewing the determination of
the value of securities held by the Trust for which market value quotations are
not readily available; overseeing management&#146;s administration of proxy voting;
and overseeing the effectiveness of the investment adviser&#146;s usage of the Trust&#146;s
brokerage; and overseeing the adviser&#146;s compliance with changing regulations
regarding the allocation of brokerage for services </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='21',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(other than pure trade
executions).&#160; The Valuation, Proxy and
Brokerage Committee consisted of four (4)&nbsp;Independent Trustees.&#160; The following Trustees served as members of
the Valuation, Proxy and Brokerage Committee: Dr.&nbsp;Gitenstein and Ms.&nbsp;Chadwick
and Messrs.&nbsp;Boyer and Patton.&#160; Ms.&nbsp;Chadwick
served as Chairperson of the Valuation, Proxy and Brokerage Committee.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Valuation, Proxy and Brokerage Committee held two (2)&nbsp;meetings
during the fiscal year ended February&nbsp;29, 2008. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Nominating and Governance Committee.&#160;
</font></i></b><font size="2" style="font-size:10.0pt;">The Board has established a Nominating and
Governance Committee for the purpose of, among other things:&#160; (1)&nbsp;identifying and recommending to the
Board candidates it proposes for nomination to fill Independent Trustees
vacancies on the Board; (2)&nbsp;reviewing workload and capabilities of
Independent Board members and recommending changes to size or composition of
the Board, as necessary; (3)&nbsp;monitoring regulatory developments and
recommending modifications to the Committee&#146;s responsibilities; (4)&nbsp;considering
and recommending the creation of additional committees or changes to Trustee
policies and procedures based on rule&nbsp;changes and &#147;best practices&#148; in
corporate governance; (5)&nbsp;reviewing compensation of Independent Board
members and making recommendations for any changes; and (6)&nbsp;overseeing the
Board&#146;s annual self evaluation process.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In evaluating candidates, the
Nominating and Governance Committee may consider a variety of factors, but it
has not at this time set any specific minimum qualifications that must be
met.&#160; Specific qualifications of
candidates for Board membership will be based on the needs of the Board at the
time of nomination.&#160; The Nominating and
Governance Committee will consider nominations received from shareholders and
shall assess shareholder nominees in the same manner as it reviews its own
nominees.&#160; A shareholder nominee for
Trustee should be submitted in writing to the Trust&#146;s Secretary at 7337 East
Doubletree Ranch Rd., Scottsdale, Arizona 85258.&#160; Any such shareholder nomination should
include, at a minimum, the following information as to each individual proposed
for nominations as Trustee:&#160; such
individual&#146;s written consent to be named in the proxy statement as a nominee
(if nominated) and to serve as a Trustee (if elected), and all information
relating to such individual that is required to be disclosed in the
solicitation of proxies for election of Trustees, or is otherwise required, in
each case under applicable federal securities laws, rules&nbsp;and regulations.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Secretary shall submit all nominations received in a timely manner
to the Nominating and Governance Committee.&#160;
To be timely, any such submission must be delivered to the Trust&#146;s
Secretary not earlier than the 90<sup>th</sup> day prior to such meeting and
not later than the close of business on the later of the 60<sup>th</sup> day
prior to such meeting or the 10<sup>th</sup> day following the day on which
public announcement of the date of the meeting is first made, by either the
disclosure in a press release or in a document publicly filed by the Trust with
the SEC.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">The Nominating and Governance Committee currently consists of four </font>(4)&nbsp;Independent Trustees.&#160; The following Trustees serve as members of
the Nominating and Governance Committee: Messes. Chadwick and Baldwin and Messrs.&nbsp;Kenny
and Vincent. Ms.&nbsp;Baldwin serves
as Chairperson of the Nominating and Governance Committee. </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">From&#160; May&nbsp;10, 2007 to March&nbsp;27,
2008 the Nominating and Governance Committee consisted of the following
Trustees: Ms.&nbsp;Chadwick and Messrs.&nbsp;Boyer, Kenny and Vincent. Mr.&nbsp;Boyer
served as Chairperson for the Committee. Prior to May&nbsp;10, 2007, the
membership of the Nominating and Governance Committee consisted of </font>four (4)&nbsp;Independent Trustees.&#160; The following Trustees served as members of
the Nominating and Governance Committee:&#160;
Dr.&nbsp;Gitenstein and Messrs.&nbsp;Kenny, Patton and Vincent.&#160; During the period prior to May&nbsp;10, 2007,
Dr.&nbsp;Gitenstein served as Chairperson of the Nominating and Governance
Committee. </font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='22',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Nominating and Governance Committee held
three (3)&nbsp;meetings during the fiscal year ended February&nbsp;29, 2008.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Investment Review Committees.</font></i></b> The Board has established two Investment Review
Committees to, among others things, monitor the investment performance of the
Trust and make recommendations to the Board with respect to the Trust.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Investment Review Committee for the Domestic Equity Funds currently
consists of three (3)&nbsp;Independent Trustees
and one (1)&nbsp;Trustee who is an &#147;interested person&#148; of the Trust, as defined
in the 1940 Act.&#160; The following Trustees
serve as members of the Investment Review Committee for the Domestic
Equity Funds:&#160; Ms.&nbsp;Chadwick and Messrs.&nbsp;Crispin, Drotch, and Earley. Ms.&nbsp;Chadwick
serves as Chairperson of the Investment Review Committee for the Domestic
Equity Funds.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to May&nbsp;10,
2007, the Investment Review Committee for the Domestic Equity Funds was
comprised of five (5)&nbsp;Independent Trustees and one (1)&nbsp;Trustee who
was an &#147;interested person,&#148; as defined in the 1940 Act, of the Trust.&#160; During the period prior to May&nbsp;10, 2007,
the following Trustees served as members of the
Investment Review Committee for the Domestic Equity Funds:&#160; Ms.&nbsp;Chadwick and Messrs.&nbsp;Patton,
Putnam, Earley, Turner and Vincent.&#160; Mr.&nbsp;Vincent
served as Chairperson of the Investment Review Committee for the Domestic
Equity Funds. </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Investment Review Committee for the Domestic Equity Funds held six (6)&nbsp;meetings
during the fiscal year ended February&nbsp;29, 2008.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Investment Review Committee for the
International/Balanced/Fixed Income Funds currently consists of of five (5)&nbsp;Independent
Trustees and one (1)&nbsp;Trustee who is an &#147;interested person&#148; as defined by
the 1940 Act of the Trust. The following Trustees serve as members of the
Investment Review Committee for the International/Balanced/Fixed Income Funds:
Messes. Baldwin and Pressler and&#160; Messrs.&nbsp;Boyer,
Kenny, Mathews and Vincent. Mr.&nbsp;Boyer serves as Chairperson of the
Investment Review Committee for the International/Balanced/Fixed Income Funds.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to May&nbsp;10, 2007, the Investment
Review Committee for the International/Balanced/Fixed Income Funds consisted of
four (4)&nbsp;Independent Trustees.&#160;
During the period prior to May&nbsp;10, 2007, the following Trustees
served as members of the Investment Review Committee for the
International/Balanced/Fixed Income Funds: Ms.&nbsp;Pressler and Dr.&nbsp;Gitenstein
and&#160; Messrs.&nbsp;Kenny and Boyer.&#160;&#160; Mr.&nbsp;Boyer served as Chairperson of the
Investment Review Committee for the International/Balanced/Fixed Income Funds.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Investment Review Committee for the International/Balanced/Fixed Income Funds
held six&#160; (6)&nbsp;meetings during the
fiscal year ended February&nbsp;29, 2008. </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Contracts
Committee.&#160; </font></i></b>The
Board has established a Contracts Committee for the purpose of overseeing the
annual renewal process relating to investment advisory and sub-advisory
agreements and, at the discretion of the Board, other agreements or plans
involving the ING Funds.&#160; The
responsibilities of the Contracts Committee include, among other things:&#160; (1)&nbsp;identifying the scope and format of
information to be provided by service providers in connection with contract
renewals; (2)&nbsp;providing guidance to independent legal counsel regarding
specific information requests to be made by such counsel on behalf of the
Trustees; (3)&nbsp;evaluating regulatory and other developments that might have
an impact on applicable review and renewal processes; (4)&nbsp;reporting to the
Trustees its recommendations and decisions regarding the foregoing matters; (5)&nbsp;assisting
in the preparation of a written record of the factors considered by Trustees
relating to the approval and renewal of advisory and sub-advisory agreements;
and (6)&nbsp;recommending to the Trustees specific steps to be taken by them
regarding the renewal process, </p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='23',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">including, for example, proposed
schedules of meetings by the Trustees.&#160;
The Contracts Committee is not responsible for making substantive
recommendations whether to approve, renew, reject or modify agreements or
plans.&#160; The Contracts Committee operates
pursuant to a Charter approved by the Board.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Contracts Committee currently consists of five (5)&nbsp;Independent
Trustees.&#160;&#160; The following Trustees serve as members of the Contracts Committee:&#160; Messes. Pressler and Chadwick and Messrs.&nbsp;Boyer,
Drotch, and Vincent. Ms.&nbsp;Pressler serves as Chairperson of the Contracts
Committee.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to May&nbsp;10, 2007, the Contracts Committee consisted of six (6)&nbsp;Independent
Trustees.&#160; The following Trustees served as members of the Contracts Committee:
Mses. Chadwick and Pressler and Messrs.&nbsp;Boyer, Patton, Vincent and
Kenny.&#160; During the period prior to May&nbsp;10,
2007, Ms.&nbsp;Pressler served as Chairperson of the Contracts Committee.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Contracts
Committee held seven (7)&nbsp;meetings during the fiscal year ended February&nbsp;29,
2008. </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee
Ownership of Securities</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:.5in;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:normal;">Share
Ownership Policy</font></i></b></p>

<p style="font-size:10.0pt;font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:.5in;"><i style="font-weight:normal;">&nbsp;</i></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In order to further align the
interests of the Independent Trustees with shareholders, it is the policy of
the Board that the Independent Trustees own shares of one or more funds managed
by ING entities at all times (&#147;Policy&#148;).&#160;
For this purpose, beneficial ownership of fund shares includes ownership
of a variable annuity contract or a variable life insurance policy whose
proceeds are invested in the funds.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Under this Policy,
the initial value of investments in one or more mutual funds in the ING Family
Funds Complex that are beneficially owned by a Trustee must equal at least
$100,000.&#160; Existing Trustees shall have a
reasonable amount of time, not to exceed three years, from the date upon which
the minimum ownership was set at $100,000 in order to satisfy the foregoing
requirements.&#160; A new Trustee must satisfy
the foregoing requirements within a reasonable amount, not to exceed three
years, of becoming a Trustee.&#160; A decline
in the value of any fund investments will not cause a Trustee to have to make
any additional investments under this Policy.</font></b></p>

<p style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:.5in;">&nbsp;</p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Investment
in mutual funds of the ING Funds Complex by the Trustees pursuant to this
Policy are subject to the market timing policies applied by the mutual funds of
the ING Funds Complex to other similar investors and any provisions of the ING
Funds&#146; Code of Ethics that otherwise applies to the Trustees.</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The following
table describes each Trustee&#146;s ownership of equity securities of the Trust and
the aggregate holdings of shares of equity securities of all Funds overseen by
the Trustee for the calendar year ended December&nbsp;31, 2007.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='24',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="34%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Name&nbsp;of&nbsp;Trustee
  </font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="30%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Dollar&nbsp;Range&nbsp;of&nbsp;Equity&nbsp;Securities<br>
  in&nbsp;the&nbsp;Trust&nbsp;as&nbsp;of&nbsp;December&nbsp;31,<br>
  2007</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="30%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Aggregate&nbsp;Dollar&nbsp;Range&nbsp;of&nbsp;Equity<br>
  Securities&nbsp;in&nbsp;all&nbsp;Registered&nbsp;Investment<br>
  Companies&nbsp;Overseen&nbsp;by&nbsp;Trustee&nbsp;in<br>
  Family&nbsp;of&nbsp;Investment&nbsp;Companies</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Independent
  Trustees</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Colleen D.
  Baldwin(1)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John V.
  Boyer</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$50,001 &#150; $100,000</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Patricia W.
  Chadwick</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Over $100,000</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter S.
  Drotch(1)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J. Michael
  Earley</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Over $100,000</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Patrick W.
  Kenny</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$10,001 &#150; $50,000</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Over $100,000 (2)</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sheryl K.
  Pressler</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Over $100,000 (2)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Roger B.
  Vincent</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Over $100,000</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Over $100,000(2)</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Trustees
  who are Interested Persons</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert W.
  Crispin(1)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Over $100,000(2)</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shaun P.
  Mathews</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Over $100,000</font></p>
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Over $100,000(2)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt .25in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt .25in;text-autospace:none;text-indent:-.25in;"><hr size="1" width="25%" noshade color="black" align="left"></div>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.18%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.82%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ms.&nbsp;Baldwin,
  Mr.&nbsp;Drotch and Mr.&nbsp;Crispin each commenced services as a Trustee on
  August&nbsp;23, 2007. </font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.18%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.82%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Held
  in a Deferred Compensation account and/or a 401K account.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Independent Trustee Ownership of Securities</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Set forth
in the table below is information regarding each Independent Trustee&#146;s (and his
or her immediate family members&#146;) share ownership in securities of the Trust&#146;s
investment adviser or principal underwriter, and the ownership of securities in
an entity controlling, controlled by or under common control with the
investment adviser or principal underwriter of the Trust (not including
registered investment companies) as of December&nbsp;31, 2007.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="25%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Name&nbsp;of&nbsp;Trustee</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Name&nbsp;of&nbsp;Owners<br>
  and&nbsp;Relationship<br>
  to&nbsp;Trustee</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Company</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Title&nbsp;of&nbsp;Class</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="12%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Value&nbsp;of<br>
  Securities</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Percentage&nbsp;of<br>
  Class</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:25.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Colleen D. Baldwin(1)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John V. Boyer</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Patricia W. Chadwick</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:13.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter S. Drotch(1)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J. Michael Earley</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:13.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Patrick W. Kenny</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sheryl K. Pressler</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:13.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Roger B. Vincent</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><hr size="1" width="25%" noshade color="black" align="left"></div>



<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-autospace:ideograph-numeric ideograph-other;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ms.&nbsp;Baldwin and Mr.&nbsp;Drotch each commenced services as a
Trustee on August&nbsp;23, 2007. </p>



<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">COMPENSATION OF TRUSTEES</font></i></b></h1>

<h1 style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">&nbsp;</font></i></b></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effective July&nbsp;1, 2007, each Trustee is reimbursed for expenses
incurred in connection with each meeting of the Board or any Committee
attended.&#160; Independent Trustee is
compensated for his or her services, on a quarterly basis, according to a fee
schedule adopted by the Board.&#160; The fee
schedule consists only of an annual retainer and does not include additional
compensation for attendance at regular or special Board and Committee
meetings.&#160; Further, Committee
Chairpersons receive an additional annual retainer for their services in that
capacity.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='25',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust pays
to each Trustee who is not an interested person of the Trust a <i>pro rata</i> share as described below, of: (i)&nbsp;an annual
retainer of $200,000.&#160; The Trust also
pays a<i> pro rata</i> portion of the following fees:
(i)&nbsp;Mr.&nbsp;Vincent, as Chairperson of the Board, receives an additional
annual retainer of $75,000; (ii)&nbsp;Messes. Baldwin, Chadwick and Pressler
and Messrs.&nbsp;Earley, Boyer and Kenny, as Chairpersons of Committees of the
Board, each receives an additional annual retainer of $10,000, $40,000,
$60,000, $30,000, $50,000 and $30,000, respectively; and (iii)&nbsp;the
Trustees&#146; out-of-pocket expenses for attendance at Board meeting.&#160; The <i>pro rata</i> share
paid by the Trust is based on the Trust&#146;s average net assets, computed as a
percentage of the average net assets of all the funds managed by the Adviser or
its affiliate, Directed Services LLC, for which the Trustees serve in common as
Trustees. </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to July&nbsp;1, 2007, each Trustee was reimbursed for expenses
incurred in connection with each meeting of the Board or any Committee meeting
attended.&#160; Each Independent Trustee was
compensated for his or her services according to a fee schedule adopted by the
Board, and received a fee that consists of an annual retainer component and a
meeting fee component.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust paid each Trustee
who was not an interested person a <i>pro rata </i>share,
as described below, of: (i)&nbsp;an annual retainer of $45,000 (Mses. Chadwick
and Pressler and Messrs.&nbsp;Earley, Boyer, Kenny, Vincent and Dr.&nbsp;Gitenstein,
as Chairpersons of Committees of the Board, each received an additional annual
retainer of $10,000, $15,000, $20,000, $20,000, $10,000, $20,000 and $10,000,
respectively. Mr.&nbsp;Patton, as Chairperson of the board received an
additional annual retainer of $30,000.); (ii)&nbsp;$7,000 for each in person
meeting of the Board (Mr.&nbsp;Patton, as Chairperson of the Board, received an
additional $1,000 for each Board meeting); (iii)&nbsp;$3,000 per attendance of
any Committee meeting (Chairpersons of Committees of the Board received an
additional $1,000 for each Committee meeting); (iv)&nbsp;$2,000 per special
telephonic meeting; and (v)&nbsp;out-of-pocket expenses. The <i>pro rata</i> share paid by the Trust was based
on the Trust&#146;s average net assets as a percentage of the average net assets of
all the funds managed by the Investment Adviser or its affiliate, Directed
Services LLC. for which the Trustees served in common as Trustees. </font></p>



<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The $2,500 retainer payable to Ms.&nbsp;Baldwin each quarter for her
services to the Nominating and Governance Committee is paid only if the
Committee has been active for that quarter. If the Nominating and Governance
Committee has been active during all four quarters in a given year, the
Chairperson will receive the full annual retainer of $10,000. Ms Baldwin was
named Chairperson of the Nominating and Governance Committee as of March&nbsp;27,
2008.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Boyer as the Chairperson of the Investment Review Committee &#151;International/Balanced
/Fixed Income receives an annual retainer of $40,000.&#160; The $10,000 retainer payable to Mr.&nbsp;Boyer
as the Chairperson for the Nominating and Governance Committee is paid only if
the Nominating and Governance Committee has been active for that quarter. The
compensation per quarter to the Chairperson is $2,500 which, if the Nominating
and Governance Committee has been active for all four quarters, will result in
the Chairperson receiving the full annual retainer of $10,000. Mr.&nbsp;Boyer
served as Chairperson of the Nominating and Governance Committee until March&nbsp;27,
2008.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">The
Chairperson for the Nominating and Governance Committee was paid on a quarterly
basis and only if the Nominating and Governance Committee had been active for
that quarter. The compensation per quarter to the Chairperson was $2,500 which,
if the Nominating and Governance Committee had been</font>  </font>active for all four quarters, would have
resulted in the Chairperson receiving the full annual retainer of $10,000.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following table sets forth information
provided by the Trust&#146;s Adviser regarding the compensation of Trustees by the
Trust and other funds managed by ING Investments and its affiliates for </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='26',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the fiscal year ended February&nbsp;29, 2008.
Officers of the Trust and Trustees who are interested persons of the Trust do
not receive any compensation from the Trust or any other funds managed by ING
Investments or its affiliates.</font></p>

<p style="font-size:10.0pt;line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">COMPENSATION TABLE</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="25%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Name&nbsp;of&nbsp;Trustee
  </font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Aggregate<br>
  Compensation<br>
  from&nbsp;Trust</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Pension&nbsp;or<br>
  Retirement<br>
  Benefits&nbsp;Accrued&nbsp;as<br>
  Part&nbsp;of&nbsp;Trust<br>
  Expenses</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Estimated&nbsp;Annual<br>
  Benefits&nbsp;Upon<br>
  Retirement(1)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Total<br>
  Compensation<br>
  from&nbsp;Trust&nbsp;and<br>
  Fund&nbsp;Complex<br>
  Paid&nbsp;to&nbsp;Trustees(2)(3)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Colleen D.
  Baldwin<br>
  Trustee(4)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,652</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">129,552</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John V.
  Boyer<br>
  Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,543</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">217,901</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Patricia W.
  Chadwick<br>
  Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,105</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">197,599</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert W.
  Crispin(4)(5)<br>
  Interested Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter S.
  Drotch(4)<br>
  Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,326</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">66,484</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J. Michael
  Earley<br>
  Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,302</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">206,500</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">R. Barbara
  Gitenstein(6)<br>
  Former Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,770</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">244,943</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Patrick W.
  Kenny(7)<br>
  Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,368</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">209,500</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shaun P.
  Mathews(5)<br>
  Interested Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jock
  Patton(8)<br>
  Former Trustee and<br>
  Former Chairman</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,203</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">344,500</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sheryl K.
  Pressler(7)<br>
  Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,625</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">222,000</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David W.C.
  Putnam(9)<br>
  Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,882</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">140,613</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John G.
  Turner(5)(10)<br>
  Former Interested<br>
  Trustee</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Roger B.
  Vincent(7)<br>
  Chairman andTrustee</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,941</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">189,125</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt .25in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt .25in;text-autospace:none;text-indent:-.25in;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  Trust has adopted a retirement policy under which a Trustee who has served as
  an Independent Trustee for five years or more will be paid by the Trust at
  the time of his or her retirement an amount equal to twice the compensation
  normally paid to the Independent Trustee for one year of service.</font></p>
  </td>
 </tr>
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee compensation includes compensation paid by Funds
  that are not discussed in the Prospectus or SAI.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Represents compensation from 182 funds paid by funds
  (total in complex as of February&nbsp;29, 2008). </font></p>
  </td>
 </tr>
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ms.&nbsp;Baldwin, Mr.&nbsp;Crispin and Mr.&nbsp;Drotch
  each commenced services as a Trustee on August&nbsp;23, 2007. </font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Crispin,
  Mr.&nbsp;Mathews and Mr.&nbsp;Turner are &#147;Interested Persons,&#148; as defined by
  the Investment Company Act of&nbsp; 1940 ,
  because of their affiliation with ING Groep N.V., the parent corporation of
  the Adviser, ING Investments, LLC and the Distributor, ING Funds Distributor,
  LLC.&nbsp; Officers and Trustees who are
  interested persons do not receive any compensation from the Trust.</font></p>
  </td>
 </tr>
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dr.&nbsp;Gitenstein
  retired as a Trustee effective September&nbsp;10, 2007.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During
  the fiscal year ended February&nbsp;29, 2008, Messers. Kenny, Vincent, and
  Ms.&nbsp;Pressler deferred $52,375, $55,875 and $122,500, respectively, of
  their compensation from the Portfolio Complex. </font></p>
  </td>
 </tr>
</table>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='27',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Patton
  retired as a Trustee effective June&nbsp;30, 2007.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(9)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Putnam
  resigned as Trustee on February&nbsp;23, 2008.</font></p>
  </td>
 </tr>
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(10)</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in 0in 0in 0in;width:95.66%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Turner
  resigned as a Trustee effective October&nbsp;25, 2007. </font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt .25in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As of June&nbsp;16, 2008, the Trustees and Officers
of the Trust as a group owned beneficially less than 1% of the Trust&#146;s Common
Shares. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As of June&nbsp;16, 2008, the Trustees and Officers
of the Trust as a group owned beneficially less than 1% of the Trust&#146;s
Preferred Shares. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As of June&nbsp;16, 2008, no person to the knowledge
of the Trust, owned beneficially or of record more than 5% of the outstanding
Common Shares or Preferred Shares of the Trust except as set forth below: </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.84%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Name&nbsp;of&nbsp;Trust
  </font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.28%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="30%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:30.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Name&nbsp;and&nbsp;Address</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:15.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Class&nbsp;and&nbsp;Type&nbsp;of<br>
  Ownership</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.74%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.28%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Percentage&nbsp;of<br>
  Class</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.74%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.28%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Percentage&nbsp;of<br>
  Trust</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:13.84%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.28%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:30.76%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:15.68%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.28%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.28%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:13.84%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Prime
  Rate Trust</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.28%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cede&nbsp;&amp; Co.<br>
  P.O.&nbsp;Box 20<br>
  Bowling Green Station<br>
  New York, NY 10274-0020</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.3%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:15.68%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Beneficial Owner</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.28%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">82.16</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.74%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.28%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">82.16</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.08%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
</table>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">INVESTMENT MANAGEMENT AND
OTHER SERVICE PROVIDERS</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">&nbsp;</font></i></b></h1>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Adviser</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The investment adviser for the Trust is ING Investments, which is
registered with the SEC as an investment adviser and serves as an investment
adviser to registered investment companies (or series thereof), as well as
structured finance vehicles.&#160; ING
Investments, subject to the authority of the Board, has the overall
responsibility for the management of the Trust&#146;s portfolio subject to
delegation of certain responsibilities to ING IM. ING Investments and ING IM
are indirect, wholly-owned subsidiaries of ING Groep N.V. (&#147;ING Groep&#148;) (NYSE:
ING).&#160; ING Groep is one of the largest
financial services organizations in the world with approximately 120,000
employees.&#160; Based in Amsterdam, ING Groep
offers an array of banking, insurance and asset management services to both
individual and institutional investors. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On February&nbsp;26, 2001,
the name of the Adviser changed from ING Pilgrim Investments,&nbsp;Inc. to ING
Pilgrim Investments, LLC.&#160; On March&nbsp;1,
2002, the name of the Adviser was changed from ING Pilgrim Investments, LLC to
ING Investments, LLC.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Investments serves
pursuant to an investment management agreement (&#147;Investment Advisory Agreement&#148;)
between ING Investments and the Trust.&#160;
The Investment Advisory Agreement requires ING Investments to oversee
the provisions of all investment advisory and portfolio management services of
the Trust.&#160; Pursuant to a sub-advisory
agreement (&#147;Sub-Advisory Agreement&#148;) ING Investments has delegated certain
management responsibilities to the Sub-Adviser of the Trust.&#160; ING Investments oversees the investment
management of the Sub-Adviser.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">28</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='28',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Investment Advisory Agreement requires ING Investments to provide,
subject to the supervision of the Board, investment advice and investment
services to the Trust and to furnish advice and recommendations with respect to
investment of the Trust&#146;s assets and the purchase or sale of its portfolio
securities.&#160; ING Investments also
provides investment research and analysis.&#160;
The Investment Advisory Agreement provides that ING Investments is not
subject to liability to the Trust for any act or omission in the course of, or
connected with, rendering services under the Agreement, except by reason of
willful misfeasance, bad faith, gross negligence or reckless disregard of its
obligations and duties under the Investment Advisory Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On August&nbsp;1,
2003, </font><font size="2" style="font-size:10.0pt;">ING underwent an internal reorganization plan that, among other things,
integrated certain of its portfolio management professionals across the United
States under a common management structure known as ING Investment Management
Americas, which includes ING IM.&#160; One of the primary purposes of the
integration plan was to promote consistently high levels of performance in
terms of investment standards, research, policies and procedures in the
portfolio management functions related to the Trust.&#160; As a result of this integration plan, the
operational and supervisory functions of the Trust&#146;s Investment Advisory
Agreement were separated from the portfolio management functions related to the
Trust, with the former continuing to be provided by ING Investments and the
latter provided by ING IM.&#160; The portfolio
management personnel currently employed by ING Investments became employees of
ING IM, which assumed primary responsibility for all portfolio management
issues, including the purchase, retention, or sale of portfolio securities.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">After an
initial term of two years, the Investment Advisory Agreement and Sub-Advisory
Agreement continue in effect from year to year so long as such continuance is
specifically approved at least annually by (a)&nbsp;the Board or (b)&nbsp;the
vote of a &#147;majority&#148; (as defined in the 1940 Act) of the Trust&#146;s outstanding
shares voting as a single class; provided that in either event the continuance
is also approved by at least a majority of the Board who are not &#147;interested
persons&#148; (as defined in the 1940 Act) of the Adviser or Sub-Adviser, as the
case may be, by vote cast in person at a meeting called for the purpose of
voting on such approval.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Investment Advisory
Agreement is terminable without penalty with not less than sixty (60) days&#146;
notice by the Board or by a vote of the holders of a majority of the Fund&#146;s
outstanding shares voting as a single class, or upon not less than sixty (60)
day&#146;s notice by the Investment Manager.&#160;
The Investment Advisory Agreement will terminate automatically in the
event of its assignment (as defined in the 1940 Act).</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Approval
of Advisory and Sub-Advisory Agreements</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For information regarding the basis for the Board&#146;s approval of the
Investment Advisory Agreement and Sub-Advisory Agreement for the Trust, please
refer to the quarterly shareholder report dated November&nbsp;30, 2007. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Advisory
Fee</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Investments receives an
annual fee, payable monthly, in an amount equal to 0.80% of the Managed Assets
of the Trust.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Total Advisory Fees Paid</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For the fiscal years ended February&nbsp;29, 2008, February&nbsp;28,
2007 and February&nbsp;28, 2006 ING Investments was paid $15,097,475,
$16,030,822 and $16,295,070 respectively, for services rendered to the Trust. </font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='29',FILE='C:\JMS\sethu\08-11032-6\task3009762\11032-6-bi-05.htm',USER='105167',CD='Jun 28 00:46 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SUB-ADVISER</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Investment Advisory Agreement for the
Trust provides that ING Investments, with the approval of the Trust&#146;s Board,
may select and employ an investment adviser to serve as a Sub-Adviser to the
Trust, shall monitor the Sub-Adviser&#146;s investment programs and results, and
shall coordinate the investment activities of the Sub-Adviser to ensure
compliance with regulatory restrictions.&#160;
ING Investments pays all of its expenses arising from the performance of
its obligations under the Investment Advisory Agreement, including all fees
payable to the Sub-Adviser, and executive salaries and expenses of the officers
of the Trust who are employees of ING Investments.&#160; The Sub-Adviser pays all of its expenses
arising from the performance of its obligations under the sub-advisory
agreement (&#147;Sub-Advisory Agreement&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING IM
serves as Sub-Adviser to the Trust pursuant to the Sub-Advisory Agreement
between ING Investments and ING IM.&#160; </font><font size="2" style="font-size:10.0pt;">The
Sub-Advisory Agreement requires ING IM to provide, subject to the supervision
of the Board and ING Investments, a
continuous investment program for the Trust and to determine the composition of
the assets of the Trust, including determination of the purchase, retention or
sale of the securities, cash and other investments for the Trust, in accordance
with the Trust&#146;s investment objectives, policies and restrictions and
applicable laws and regulations.&#160; The
Sub-Advisory Agreement also requires ING IM to use reasonable compliance
techniques as the Sub-Adviser or the Board may reasonably adopt, including any
written compliance procedures.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Sub-Advisory Agreement may be terminated at any time by the Trust by a vote of
the majority of the Board or by a vote of a majority of the outstanding
securities.&#160; The Sub-Advisory Agreement
also may be terminated by: (i)&nbsp;ING
Investments at any time, upon sixty (60) days&#146; written notice to the
Trust and the Sub-Adviser; (ii)&nbsp;at any time, without payment of any
penalty by the Trust, by the Trust&#146;s Board or a majority of the outstanding
voting securities of the Trust upon sixty (60) days&#146; written notice to ING Investments and the Sub-Adviser; or (iii)&nbsp;by
the Sub-Adviser upon three (3)&nbsp;months&#146; written notice unless the Trust or ING Investments requests additional time to
find a replacement for the Sub-Adviser, in which case, the Sub-Adviser shall
allow the additional time, requested by the Trust or ING Investments, not to exceed three (3)&nbsp;additional months
beyond the initial three (3)&nbsp;month notice period; provided, however, that
the Sub-Adviser may terminate the Sub-Advisory Agreement at any time without
penalty, effective upon written notice to ING
Investments and the Trust, in the event either the Sub-Adviser (acting
in good faith) or ING Investments ceases
to be registered as an investment adviser under the Investment Advisers Act of
1940 Act, as amended or otherwise becomes legally incapable of providing
investment management services pursuant to its respective contract with the
Trust, or in the event ING Investments becomes
bankrupt or otherwise incapable of carrying out its obligations under the
Sub-Advisory Agreement, or in the event that the Sub-Adviser does not receive
compensation for its services from ING
Investments or the Trust as required by the terms of the Sub-Advisory
Agreement.&#160; Otherwise, the Sub-Advisory Agreement will remain in effect for two years
and will, thereafter, continue in effect from year to year, subject to the
annual approval of the Board, on behalf of the Trust, or the vote of a majority
of the outstanding voting securities, and the vote, cast in person at a meeting
duly called and held, of a majority of the Trustees, on behalf of the Trust,
who are not parties to the Sub-Advisory Agreement or interested persons (as
defined in the 1940 Act) of any such party.&#160;
The Sub-Advisory Agreement will terminate automatically in the
event of an assignment (as defined in the 1940 Act). </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In this capacity, ING IM, subject to the
supervision and control of ING Investments and the Trustees of the Trust, will
manage the Trust&#146;s portfolio investments, consistently with its investment
objective, and execute any of the Trust&#146;s investment policies that it deems
appropriate to utilize from time to time.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='30',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Sub-Advisory Fee </font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For its services, ING IM is entitled to
receive a sub-advisory fee of 0.36%, expressed as an annual rate based on the
average daily Managed Assets of the Trust, and paid by ING Investments.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Total Sub-Advisory Fees Paid</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For the fiscal
year ended February&nbsp;29, 2008, February&nbsp;28, 2007 and February&nbsp;28
2006, ING Investments paid ING IM, in its capacity as Sub-Adviser, $6,812,477,
$7,213,870, and $7,332,781, respectively, in sub-advisory fees. </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PORTFOLIO MANAGERS</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Other Accounts Managed</font></i></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following table shows the number of accounts and total assets in
the accounts managed by each Portfolio Manager as of February&nbsp;29, 2008:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="26%" colspan="4" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:26.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Registered&nbsp;Investment<br>
  Companies</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="25%" colspan="4" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Other&nbsp;Pooled&nbsp;Investment<br>
  Vehicles</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="22%" colspan="4" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:22.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Other&nbsp;Accounts*</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Portfolio<br>
  Manager</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number&nbsp;of<br>
  Accounts</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Total&nbsp;Assets<br>
  (in&nbsp;billions)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number&nbsp;of<br>
  Accounts</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Total&nbsp;Assets<br>
  (in&nbsp;billions)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number&nbsp;of<br>
  Accounts</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Total&nbsp;Assets<br>
  (in&nbsp;billions)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Daniel A. Norman</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,566,526,182</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,511,029,330</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jeffrey A. Bakalar</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,566,526,182</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0in 0in 0in 0in;width:11.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,511,029,330</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Curtis F. Lee</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,566,526,182</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:11.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,511,029,330</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="1" width="25%" noshade color="black" align="left"></div>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">* None of these accounts have an advisory fee based on the performance
of the account. </font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Potential Material Conflicts of Interest</font></i></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A
portfolio manager may be subject to potential conflicts of interest because the
portfolio manager is responsible for other accounts in addition to the
Trust.&#160; These other accounts may include,
among others, other mutual funds, separately managed advisory accounts, commingled
trust accounts, insurance separate accounts, wrap fee programs and hedge
funds.&#160; Potential conflicts may arise out
of the implementation of differing investment strategies for the portfolio
manager&#146;s various accounts, the allocation of investment opportunities among
those accounts or differences in the advisory fees paid by the portfolio
manager&#146;s accounts.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A
potential conflict of interest may arise as a result of the portfolio manager&#146;s
responsibility for multiple accounts with similar investment guidelines.&#160; Under these circumstances, a potential
investment may be suitable for more than one of the portfolio manager&#146;s
accounts, but the quantity of the investment available for purchase is less
than the aggregate amount the accounts would ideally devote to the
opportunity.&#160; Similar conflicts may arise
when multiple accounts seek to dispose of the same investment.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A
portfolio manager may also manage accounts whose objectives and policies differ
from those of the Trust.&#160; These
differences may be such that under certain circumstances, trading activity
appropriate for one account managed by the portfolio manager may have adverse
consequences for another account </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='31',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">managed by the portfolio
manager.&#160; For example, if an account were
to sell a significant position in a security, which could cause the market
price of that security to decrease, while the Trust maintained its position in
that security.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A
potential conflict may arise when a portfolio manager is responsible for
accounts that have different advisory fees &#151; the difference in the fees may
create an incentive for the portfolio manager to favor one account over
another, for example, in terms of access to particularly appealing investment
opportunities.&#160; This conflict may be
heightened where an account is subject to a performance-based fee.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As
part of its compliance program, ING IM has adopted policies and procedures
reasonably designed to address the potential conflicts of interest described
above.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Finally, a potential conflict of interest may arise because the
investment mandates for certain other accounts, such as hedge funds, may allow
extensive use of short sales, which, in theory, could allow them to enter into
short positions in securities where other accounts hold long positions. ING IM
has policies and procedures reasonably designed to limit and monitor short
sales by the other accounts to avoid harm to the Trust.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Compensation</font></i></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Compensation consists of: (a)&nbsp;fixed base salary; (b)&nbsp;bonus
which is based on ING IM&#146;s performance, one- and three-year pre-tax performance
of the accounts the portfolio managers are primarily and jointly responsible
for relative to account benchmarks and peer universe performance, and revenue
growth of the accounts they are responsible for; and (c)&nbsp;long-term equity
awards tied to the performance of our parent company, ING Groep.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Portfolio managers are also
eligible to participate in an annual cash incentive plan.&#160; The overall design of the ING IM annual
incentive plan was developed to closely tie pay to performance, structured in
such a way as to drive performance and promote retention of top talent.&#160; As with base salary compensation, individual
target awards are determined and set based on external market data and internal
comparators.&#160; Investment performance is
measured on both relative and absolute performance in all areas.&#160; ING IM has a defined index, the S&amp;P&#146;s
LSTA Leveraged Loan Index and, where applicable, peer groups including but not
limited to Russell, Morningstar,&nbsp;Inc. (&#147;Morningstar&#148;), Lipper Analytical
Services,&nbsp;Inc. (&#147;Lipper&#148;) and Lehman and set performance goals to
appropriately reflect requirements for each investment team.&#160; The measures for each team are outlined on a &#147;scorecard&#148;
that is reviewed on an annual basis.&#160;
These scorecards reflect a comprehensive approach to measuring
investment performance versus both benchmarks and peer groups over one- and
three-year periods and year-to-date net cash flow (changes in the accounts&#146; net
assets not attributable to changes in the value of the accounts&#146; investments)
for all accounts managed by the team.&#160;
The results for overall IIM scorecards are calculated on an asset
weighted performance basis of the individual team scorecards.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment professionals&#146;
performance measures for bonus determinations are weighted by 25% being
attributable to the overall ING IM performance and 75% attributable to their
specific team results (60% investment performance and 15% net cash revenue).</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Based on job function, internal comparators and external market data,
portfolio managers participate in the ING Long-Term Incentive Plan.&#160; Plan awards are based on the current year&#146;s
performance as defined by the ING IM component of the annual incentive
plan.&#160; The awards vest in three years and
are paid in a combination of ING restricted stock, stock options and restricted
performance units.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='32',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Portfolio managers whose base salary compensation exceeds a particular
threshold may participate in ING&#146;s deferred compensation plan.&#160; The plan provides an opportunity to invest
deferred amounts of compensation in mutual funds, ING stock or at an annual
fixed interest rate.&#160; Deferral elections
are done on an annual basis and the amount of compensation deferred is
irrevocable.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Ownership of Securities</font></i></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following table shows the dollar range of
shares of the Trust owned by portfolio manager member as of February&nbsp;29,
2008, including investments by their immediate family members and amounts
invested through retirement and deferred compensation plans.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="66%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:66.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Portfolio&nbsp;Manager </font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="30%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Dollar&nbsp;Range&nbsp;of&nbsp;Trust&nbsp;Shares&nbsp;Owned</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:66.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Daniel A.
  Norman</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:30.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0in 0in 0in 0in;width:66.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jeffrey A. Bakalar</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:66.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Curtis F. Lee</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ADMINISTRATOR</font></b></p>

<p align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Funds
Services, LLC (&#147;Administrator&#148; or &#147;ING Funds Services&#148;), an affiliate of the
Adviser, serves as Administrator for the Trust pursuant to an administration
agreement (&#147;Administration Agreement&#148;).&#160;
In connection with its administration of the corporate affairs of the
Trust, the Administrator bears the following expenses:&#160; the salaries and expenses of all personnel of
the Trust and the Administrator except for the fees and expenses of Trustees
not affiliated with the Administrator or ING Investments; costs to prepare
information; determination of daily NAV by the recordkeeping and accounting
agent; expenses to maintain certain of the Trust&#146;s books and records that are
not maintained by ING Investments, the custodian, or transfer agent; costs
incurred to assist in the preparation of financial information for the Trust&#146;s
income tax returns, proxy statements, quarterly, semi-annual, and annual
shareholder reports; costs of providing shareholder services in connection with
any tender offers or to shareholders proposing to transfer their shares to a
third party; providing shareholder services in connection with the dividend
reinvestment plan; and all expenses incurred by the Administrator or by the
Trust in connection with administering the ordinary course of the Trust&#146;s
business other than those assumed by the Trust, as described below.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as
indicated immediately above and under the section entitled &#147;Adviser,&#148; the Trust
is responsible for the payment of its expenses including:&#160; the fees payable to ING Investments; the fees
payable to the Administrator; the fees and certain expenses of the Trust&#146;s
custodian and transfer agent, including the cost of providing records to the
Administrator in connection with its obligation of maintaining required records
of the Trust; the charges and expenses of the Trust&#146;s legal counsel, legal
counsel to the Trustees who are not &#147;interested persons&#148; as defined in the 1940
Act and independent accountants; commissions and any issue or transfer taxes
chargeable to the Trust in connection with its transactions; all taxes and
corporate fees payable by the Trust to governmental agencies; the fees of any
trade association of which the Trust is a member; the costs of share
certificates representing Common Shares of the Trust; organizational and
offering expenses of the Trust and the fees and expenses involved in
registering and maintaining registration of the Trust and its Common Shares
with SEC, including the preparation and printing of the Trust&#146;s registration
statement and prospectuses for such purposes; allocable communications expenses
with respect to investor services, and all expenses of shareholders&#146; and
Trustees&#146; meetings and of preparing, printing and mailing reports, proxy
statements and prospectuses to shareholders; the cost of insurance; and
litigation and indemnification expenses and extraordinary expenses not incurred
in the ordinary course of the Trust&#146;s business.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='33',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For its services, the
Administrator is entitled to receive from the Trust a fee at an annual rate of
0.25% of the Trust&#146;s average daily net assets plus the proceeds of any
outstanding borrowings.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Administrative fees paid by the Trust</font><font size="2" style="font-size:10.0pt;"> for the
fiscal years ended February&nbsp;29, 2008, February&nbsp;28, 2007 and February&nbsp;28,
2006, were $4,717,961, $5,009,632 and $5,092,209, respectively, for services
rendered to the Trust. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">DISTRIBUTOR</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shares of the Trust are distributed by ING
Funds Distributor, LLC (&#147;ING Funds Distributor&#148; or &#147;Distributor&#148;).&#160; Pursuant to an Amended and Restated
Distribution Agreement (&#147;Distribution Agreement&#148;), the Distributor, an
affiliate of ING Investments and ING Funds Services, is the principal
underwriter and distributor for the shares of the Trust and acts as agent of
the Trust in the continuous offering of its shares.&#160; The Distributor bears all of its expenses of
providing services pursuant to the Distribution Agreement.&#160; The Trust pays the cost for the prospectus
and shareholder reports to be set in type and printed for existing
shareholders, and the Trust pays for the printing and distribution of copies thereof
used in connection with the offering of shares to prospective investors.&#160; The Trust also pays for supplementary sales
literature and advertising costs.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Distribution Agreement continues in
effect from year to year so long as such continuance is approved at least
annually by a vote of the Board, including the Trustees who are not interested
persons of the Trust and who have no direct or indirect financial interest in
the Distribution Agreement.&#160; The
Distribution Agreement automatically terminates in the event of its assignment
and may be terminated at any time without penalty by the Trust or by the
Distributor upon sixty (60) days written notice. Termination by the Trust may
be by vote of a majority of the Board, and a majority of the Trustees who are
not interested persons of the Trust and who have no direct or indirect
financial interest in the Distribution Agreement, or a majority of the
outstanding voting securities of the Trust, as defined under the 1940 Act.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Common
Shares will only be sold on such days as shall be agreed to by the Trust and
ING Funds Distributor.&#160; The Common Shares
will be sold at market prices, which shall be determined with reference to
trades on the NYSE, subject to a minimum price to be established each day by
the Trust.&#160;&#160;&#160; The minimum price on any
day will not be less than the current NAV per Common Share.&#160; The Trust and ING Funds Distributor will
suspend the sale of Common Shares if the per share price of the Common Shares
is less than the minimum price.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Settlements
of sales of Common Shares will occur on the third business day following the
date on which any such sales are made.&#160;
Unless otherwise indicated in a further prospectus supplement, ING Funds
Distributor as underwriter will act as underwriter on a reasonable efforts
basis.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with
the sale of the Common Shares on behalf of the Trust, ING Funds Distributor may
be deemed to be an underwriter within the meaning of the 1940 Act.&#160; As described below, ING Funds Distributor
also serves as distributor for the Trust in connection with the sale of Common
Shares of the Trust pursuant to privately negotiated transactions and pursuant
to optional cash investments. In addition, ING Funds Distributor provides
administrative services in connection with a separate at-the-market offering of
Common Shares of the Trust.&#160; The offering
of Common Shares pursuant to the Distribution Agreement will terminate upon the
earlier of (i)&nbsp;the sale of all Common Shares subject thereto or (ii)&nbsp;termination
of the Distribution Agreement.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='34',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">PROXY VOTING PROCEDURES</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Board has adopted proxy
voting procedures and guidelines to govern the voting of proxies relating to
the Trust&#146;s portfolio securities.&#160; The
Trust&#146;s procedures and guidelines delegate to ING Investments the authority to
vote proxies relating to portfolio securities, and provide a method for
responding to potential conflicts of interest.&#160;
In delegating voting authority to ING Investments, the Board has also
approved ING Investments&#146; proxy voting procedures, which require ING
Investments to vote proxies in accordance with the Trust&#146;s proxy voting
procedures and guidelines.&#160; An independent proxy voting service has been
retained to assist in the voting of Trust proxies through the provision of vote
analysis, implementation and recordkeeping and disclosure services. In
addition, the Board established the Compliance Committee, to oversee the
implementation of the Fund&#146;s proxy voting procedures. A copy of the proxy
voting procedures and guidelines of the Trust, including the proxy voting
procedures of ING Investments, is attached hereto as Appendix A.&#160; Information regarding how the Trust voted
proxies relating to portfolio securities for the one-year period ending June&nbsp;30<sup>th</sup>
is available no later than August&nbsp;31<sup>st</sup> of each year through the
ING Funds&#146; website at http://www.ingfunds.com or by accessing the SEC&#146;s EDGAR
database at http:// www.sec.gov.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">SHAREHOLDER INVESTMENT PROGRAM</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust
maintains a Shareholder Investment Program (&#147;Program&#148;), which allows
participating shareholders to reinvest all dividends and capital gain
distributions (&#147;Dividends&#148;) in additional Common Shares of the Trust.&#160; The Program also allows participants to
purchase additional Common Shares through optional cash investments in amounts
ranging from a minimum of $100 to a maximum of $100,000 per month.&#160;&#160;&#160; Common Shares may be issued by the Trust
under the Program only if the Trust&#146;s Common Shares are trading at a premium to
NAV.&#160; If the Trust&#146;s Common Shares are
trading at a discount to NAV, Common Shares purchased under the Program will be
purchased on the open market.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the
market price (the volume-weighted average sales price, per share, as reported
on the New York Stock Exchange Composite Transaction Tape as shown daily on
Bloomberg&#146;s AQR screen) plus estimated commissions for Common Shares of the
Trust is less than the NAV on the Valuation Date (defined below), DST will
purchase Common Shares on the open market through a bank or securities broker
as provided herein.&#160; Open market
purchases may be effected on any securities exchange on which Common Shares of
the Trust trade or in the over-the-counter market.&#160; If the Market Price, plus estimated
commissions, exceeds the NAV before DST has completed its purchases, DST will
use reasonable efforts to cease purchasing Common Shares, and the Trust shall
issue the remaining Common Shares.&#160; If
the Market Price, plus estimated commissions, is equal to or exceeds the NAV on
the Valuation Date, the Trust will issue the Common Shares to be acquired by
the Program.&#160; The Valuation Date is a
date preceding the DRIP Investment Date and OCI Investment Date, on which it is
determined, based on the Market Price and NAV of Common Shares of the Trust,
whether DST will purchase Common Shares on the open market or the Trust will
issue the Common Shares for the Program.&#160;
The Trust may, without prior notice to participants, determine that it
will not issue new Common Shares for purchase pursuant to the Program, even
when the Market Price plus estimated commissions equals or exceeds NAV, in
which case DST will purchase Common Shares on the open market.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common
Shares issued by the Trust under the Program will be issued without incurring a
fee.&#160; Common Shares purchased for the
Program directly from the Trust in connection with the reinvestment of
Dividends will be acquired on the DRIP Investment Date at the greater of (i)&nbsp;NAV
at the close of business on the Valuation Date or (ii)&nbsp;the average of the
daily Market Price of the shares during the DRIP Pricing Period, minus a
discount of 5%.&#160; The DRIP Pricing Period
for a dividend reinvestment is the Valuation Date and the prior Trading
Day.&#160; A &#147;Trading Day&#148; means any day on
which trades of the Common Shares of the Trust are reported on the NYSE.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='35',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common
Shares purchased directly from the Trust pursuant to optional cash investments
will be acquired on an OCI Investment Date at the greater of (i)&nbsp;NAV at
the close of business on the Valuation Date or (ii)&nbsp;the average of the
daily Market Price of the shares during the OCI Pricing Period minus a
discount, determined at the sole discretion of the Trust and announced in
advance, ranging from 0% to 5%.&#160; The OCI
Pricing Period for an OCI Investment Date means the period beginning four
Trading Days prior to the Valuation Date through and including the Valuation
Date.&#160; The discount for optional cash
investments is set by the Trust and may be changed or eliminated by the Trust
without prior notice to participants at any time.&#160; The discount for optional cash investments is
determined on the last business day of each month.&#160; In all instances, however, the discount on
Common Shares issued directly by the Trust shall not exceed 5% of the market
price, and Common Shares may not be issued at a price less than NAV without
prior specific approval of shareholders or of the Commission.&#160; Optional cash investments received by DST no
later than 4:00&nbsp;p.m. Eastern time on the OCI payment Due Date to be
invested on the relevant OCI Investment Date.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to
the availability of Common Shares registered for issuance under the Program,
there is no total maximum number of Common Shares that can be issued pursuant
to the Program.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">See &#147;Federal
Taxation - Distributions&#148; for a discussion of the federal income tax
ramifications of obtaining Common Shares under the Program.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Privately Negotiated Transactions</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Common
Shares may also be offered pursuant to privately negotiated transactions
between the Trust and specific investors.&#160;
The terms of such privately negotiated transactions will be subject to
the discretion of the management of the Trust.&#160;
In determining whether to sell Common Shares pursuant to a privately
negotiated transaction, the Trust will consider relevant factors including, but
not limited to, the attractiveness of obtaining additional funds through the
sale of Common Shares, the purchase price to apply to any such sale of Common
Shares and the person seeking to purchase the Common Shares.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common
Shares issued by the Trust in connection with privately negotiated transactions
will be issued at the greater of (1)&nbsp;NAV per Common Share of the Trust&#146;s
Common Shares or (ii)&nbsp;at a discount ranging from 0.00% to 5.00% of the
average of the daily market price of the Trust&#146;s Common Shares at the close of
business on the two business days preceding the date upon which Common Shares
are sold pursuant to the privately negotiated transaction.&#160; The discount to apply to such privately
negotiated transactions will be determined by the Trust with regard to each
specific transaction.&#160; The Trust will not
pay any commissions with regard to privately negotiated transactions, but an
investor may be subject to a front end sales load of up to 3.00% paid to or
retained by a third party broker-dealer through which such transaction may be
effected.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">CODE OF ETHICS</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Distributor, </font><font size="2" style="font-size:10.0pt;">the Adviser, the Sub-Adviser </font><font size="2" style="font-size:10.0pt;">and the Trust have each
adopted a code of ethics (&#147;Code of Ethics&#148; or written supervisory procedures)
governing personal trading activities of all Trustees, officers of the Trust
and the Distributor and persons who, in connection with their regular
functions, play a role in the recommendation of any purchase or sale of a
security by the Trust or obtain information pertaining to such purchase or
sale.&#160; The Code of Ethics is intended to
prohibit fraud against the Trust that may arise from personal trading of
securities that may be purchased or held by the Trust or of Trust shares.&#160; The Code of Ethics also prohibits short-term
trading of the Trust by persons subject to the Code of Ethics.&#160; Personal trading is permitted by such persons
subject to certain restrictions; however such persons are generally required to
pre-clear all security transactions with the Trust&#146;s Compliance </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='36',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Department and to report all
transactions on a regular basis.&#160; The
Sub-Adviser has adopted its own Code of Ethics to govern the personal trading
activities of its personnel.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Code
of Ethics can be reviewed and copied at the SEC&#146;s Public Reference Room&nbsp;located
at 100 F Street, NE, Washington, DC&#160;
20549.&#160; Information on the
operation of the Public Reference Room&nbsp;may be obtained by calling the SEC
at (202) 551-8090.&#160; The Code of Ethics is
available on the SEC&#146;s website (http://www.sec.gov) and copies may also be
obtained at prescribed rates by electronic request at publicinfo@sec.gov, or by
writing the SEC&#146;s Public Reference Section&nbsp;at the address listed above.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">PORTFOLIO TRANSACTIONS</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust
will generally have at least 80% of its net assets, plus the amount of any borrowings
for investment purposes, invested in Senior Loans.&#160; The remaining assets of the Trust will
generally consist of loans to borrowers organized outside the United States and
U.S. territories and possessions or Canada, loans denominated in currencies
other than the U.S. dollar, short-term debt instruments with remaining
maturities of 120 days or less, longer-term debt securities, certain other
instruments such as unsecured loans, subordinated loans up to a maximum of 5%
of the Trust&#146;s net assets, interest rate swaps, caps and floors, repurchase
agreements, reverse repurchase agreements and equity securities acquired in
connection with investments in loans.&#160;
The Trust will acquire Senior Loans from and sell Senior Loans to
commercial and investment banks, insurance companies, finance companies, and
other investment companies and private investment funds. The Trust&#146;s interest
in a particular Senior Loan will terminate when the Trust receives full payment
on the loan or sells a Senior Loan in the secondary market.&#160; Costs associated with purchasing or selling
investments in the secondary market include processing fees paid to
agents.&#160; These costs are allocated
between the purchaser and seller as agreed between the parties.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Sub-Adviser for the
Trust places orders for the purchase and sale of investment securities for the
Trust, pursuant to authority granted in the Sub-Advisory Agreement.&#160; Subject to policies and procedures approved
by the Trust&#146;s Board, the Sub-Adviser has discretion to make decisions relating
to placing these orders, including, where applicable, selecting the brokers or
dealers that will execute the purchase and sale of investment securities,
negotiating the commission or other compensation paid to the broker or dealer
executing the trade, or using an electronic trading network (&#147;ECN&#148;) or
alternative trading system (&#147;ATS&#148;).</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In a situation where the
Sub-Adviser resigns or ING Investments otherwise assumes day to day management
of the Trust pursuant to its Investment Advisory Agreement with the Trust, ING
Investments will perform the services described herein as being performed by
the Sub-Adviser.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">How
Securities Transactions are Effected</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purchases and sales of securities on a securities exchange (which
include most equity securities) are effected through brokers who charge a
commission for their services.&#160; In
transactions on securities exchanges in the United States, these commissions
are negotiated, while on many foreign securities exchanges commissions are
fixed.&#160; Securities traded in the
over-the-counter markets (such as fixed- income securities and some equity
securities) are generally traded on a &#147;net&#148; basis with market makers acting as
dealers; in these transactions, the dealers act as principal for their own
accounts without a stated commission, although the price of the security
usually includes a profit to the dealer.&#160;
Transactions in certain over-the counter securities also may be effected
on an agency basis, when, in the Sub-Adviser&#146;s opinion, the total price paid
(including commission) is equal to or better than the best total price
available from a market maker.&#160; In
underwritten offerings, securities are usually purchased at a fixed price,
which includes an amount of compensation to the underwriter, generally referred
to as the underwriter&#146;s concession or discount.&#160;
On occasion, certain money market instruments may be purchased directly
from &#160;</font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='37',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">an issuer, in which case no
commissions or discounts are paid.&#160; The
Sub-Adviser may also place trades using an ECN or ATS.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">How the Sub-Adviser
Selects Broker-Dealers </font></b></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Sub-Adviser has a duty to seek to obtain best execution of the
Trust&#146;s orders, taking into consideration a full range of factors designed to
produce the most favorable overall terms reasonably available under the
circumstances.&#160; In selecting brokers and
dealers to execute trades, the Sub-Adviser may consider both the
characteristics of the trade and the full range and quality of the brokerage
services available from eligible broker-dealers. This consideration often
involves qualitative as well as quantitative judgments. Factors relevant to the
nature of the trade may include, among others, price&#160; (including the applicable brokerage commission
or dollar spread), the size of the order, the nature and characteristics
(including liquidity) of the market for the security, the difficulty of
execution, the timing of the order, potential market impact, and the need for
confidentiality, speed, and certainty of execution.&#160; Factors relevant to the&#160; range and quality of brokerage services
available from eligible brokers and dealers may include, among others, the
firms&#146; execution, clearance, settlement, and other operational facilities;
willingness and ability to commit&#160;
capital or take risk in positioning a block of securities, where
necessary; special expertise in particular securities or markets; ability to
provide liquidity, speed and anonymity; the nature and quality of other
brokerage and research services provided to the Sub-Adviser (consistent with
the &#147;safe harbor&#148; described below); and the firms&#146; general reputation,
financial condition and responsiveness to the Sub-Adviser, as demonstrated in
the particular transaction or other transactions.&#160;&#160; Subject to its duty to seek best execution
of the Trust&#146;s orders, the Sub-Adviser may select broker-dealers that
participate in commission recapture programs that have been established for the
benefit of the Trust. Under these programs, the participating broker-dealers
will return to the Trust (in the form of a credit to the Trust) a portion of
the brokerage commissions paid to the broker-dealers by the Trust.&#160; Theses credits are used to pay certain
expenses of the Trust. These commission recapture payments benefit the Trust,
and not the Sub-Adviser. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">The
Safe Harbor for Soft Dollar Practices</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In selecting broker-dealers to execute a trade for the Trust, the
Sub-Adviser may consider the nature and quality of brokerage and research
services provided to the Sub-Adviser as a factor in evaluating the most
favorable overall terms reasonably available under the circumstances<b>.&#160; </b>As permitted by Section&nbsp;28(e)&nbsp;of
the Securities Exchange Act 1934 (&#147;1934 Act&#148;), the Sub-Adviser may cause the
Trust to pay a broker-dealer a commission for effecting a securities
transaction for the Trust that is in excess of the commission which another
broker-dealer would have charged for effecting the transaction, if the
Sub-Adviser makes a good faith determination that the broker&#146;s commission paid
by the Trust is reasonable in relation to the value of the brokerage and
research services provided by the broker-dealer, viewed in terms of either the
particular transaction or the Sub-Adviser&#146;s overall responsibilities to the
Trust and its other investment advisory clients. The practice of using a
portion of the Trust&#146;s commission dollars to pay for brokerage and research
services provided to the Sub-Adviser is sometimes referred to as &#147;soft dollars.&#148;&#160; Section&nbsp;28(e)&nbsp;is sometimes referred
to as a &#147;safe harbor,&#148; because it permits this practice, subject to a number of
restrictions, including the Sub-Adviser&#146;s compliance with certain procedural
requirements and limitations on the type of brokerage and research services
that qualify for the safe harbor. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Brokerage and Research
Products and Services Under the Safe Harbor </font></b><font size="2" style="font-size:10.0pt;">&#150; Research products and
services may include, but are not limited to, general economic, political,
business&#160; and market information and
reviews, industry and company information and reviews, evaluations of
securities and </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='38',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">recommendations as to the
purchase and sale of securities, financial data on a company or companies,
performance and risk measuring services and analysis, stock price quotation
services, computerized historical financial databases and related software,
credit rating services, analysis of corporate responsibility issues, brokerage
analysts&#146; earning estimates, computerized links to current market data,
software dedicated to research, and portfolio modeling. Research services may
be provided in the form of reports, computer-generated data feeds and other
services, telephone contacts, and personal meetings with securities analysts,
as well as in the form of meetings arranged with corporate officers and industry
spokespersons, economists, academics and governmental representatives.
Brokerage products and services assist in the execution, clearance and
settlement of securities transactions, as well as functions incidental thereto,
including but not limited to related communication and connectivity services
and equipment, and software related to order routing, market access,
algorithmic trading, and other trading activities.&#160;&#160; On occasion, a broker-dealer may furnish the
Sub-Adviser with a service that has a mixed use (that is, the service is used
both for brokerage and research activities that are within the safe harbor and
for other activities).&#160; In this case, the
Sub-Adviser is required to reasonably allocate the cost of the service, so that
any portion of the service that does not qualify for the safe harbor is paid
for by the Sub-Adviser from its own funds, and not by portfolio commissions
paid by the Trust.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Benefits to the Sub-Adviser </font></b><font size="2" style="font-size:10.0pt;">- Research products and
services provided to the Sub-Adviser by broker-dealers that effect securities
transactions for the Trust may be used by the Sub-Adviser in servicing all of
its accounts.&#160; Accordingly, not all of
these services may be used by the Sub-Adviser in connection with the Trust.
Some of these products and services are also available to the Sub-Adviser for
cash, and some do not have an explicit cost or determinable value.&#160; The research received does not reduce the
sub-advisory fees payable to the Sub-Adviser for services provided to the
Trust.&#160; The Sub-Adviser&#146;s expenses would
likely increase if the Sub-Adviser had to generate these research products and
services through its own efforts, or if it paid for these products or services
itself. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Broker-Dealers that are
Affiliated with ING Investments or the Sub-Adviser </font></b></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Portfolio transactions may
be executed by brokers affiliated with the ING Groep or ING Investments or the
Sub-Adviser, so long as the commission paid to the affiliated broker is
reasonable and fair compared to the commission that would be charged by an unaffiliated
broker in a comparable transaction.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Prohibition
on Use of Brokerage Commissions for Sales or Promotional Activities</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The placement of portfolio brokerage with broker-dealers who have sold
shares of the Trust is subject to rules&nbsp;adopted by the SEC and the
Financial Industry Regulatory Authority (&#147;FINRA&#148;).&#160; Under these rules, the Sub-Adviser may not
consider a broker&#146;s promotional or sales efforts on behalf of the Trust when
selecting a broker dealer for Trust portfolio transactions, and neither the
Trust nor the Sub-Adviser may enter into an agreement under which the Trust
directs brokerage transactions (or revenue generated from such transactions) to
a broker-dealer to pay for distribution of Trust shares. The Trust has adopted
policies and procedures, approved by the Board, that are designed to attain
compliance with these prohibitions. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Principal
Trades and Research</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purchases of securities for
the Trust also may be made directly from issuers or from underwriters. Purchase
and sale transactions may be effected through dealers which specialize in the
types of securities which the Trust will be holding. Dealers and underwriters
usually act as principals for their own account. Purchases from underwriters
will include a concession paid by the issuer to the underwriter and purchases
from dealers will include the spread between the bid and the asked price. If
the execution and price </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='39',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">offered by more than one
dealer or underwriter are comparable, the order may be allocated to a dealer or
underwriter which has provided such research or other services as mentioned
above.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">More Information about
trading in Fixed-Income Securities </font></b></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purchases and sales of fixed-income securities will usually be
principal transactions. Such securities often will be purchased or sold from or
to dealers serving as market makers for the securities at a net price. Each
Trust may also purchase such securities in underwritten offerings and will, on
occasion, purchase securities directly from the issuer. Generally, fixed-income
securities are traded on a net basis and do not involve brokerage commissions.
The cost of executing fixed-income securities transactions consists primarily
of dealer spreads and underwriting commissions. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In purchasing and selling
fixed-income securities, it is the policy of the Fund to obtain the best
results, while taking into account the dealer&#146;s general execution and
operational facilities, the type of transaction involved and other factors,
such as the dealer&#146;s risk in positioning the securities involved. While the
Sub-Adviser generally seeks reasonably competitive spreads or commissions, the
Trust will not necessarily pay the lowest spread or commission available.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Transition
Management</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Changes in the Sub-Adviser,
investment personnel, reorganizations or a merger of the Trust may result in
the sale of a significant portion or even all of the Trust&#146;s portfolio
securities.&#160; This type of change
generally will increase trading costs and the portfolio turnover for the Trust.
The Trust, ING Investments, or the Sub-Adviser may engage a broker-dealer to
provide transition management services in connection with a change in the
Sub-Adviser or a reorganization or other changes.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Allocation
of Trades</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Some securities considered
for investment by the Trust may also be appropriate for other clients served by
the Trust&#146;s Sub-Adviser. If the purchase or sale of securities consistent with
the investment policies of the Trust and one or more of these other clients is
considered at or about the same time, transactions in such securities will be
placed on an aggregate basis and allocated among the Trust and such other
clients in a manner deemed fair and equitable, over time, by the Sub-Adviser
and consistent with the Sub-Adviser&#146;s written policies and procedures. The
Sub-Adviser may use different methods of allocating the results aggregated
trades. The Sub-Adviser&#146;s relevant policies and procedures and the results of
aggregated trades in which the Trust participated are subject to periodic
review by the Board.&#160; To the extent the
Trust seeks to acquire (or dispose of) the same security at the same time, the
Trust may not be able to acquire (or dispose of) as large a position in such
security as it desires, or it may have to pay a higher (or receive a lower)
price for such security. It is recognized that in some cases, this system could
have a detrimental effect on the price or value of the security insofar as the
Trust is concerned.&#160; However, over time,
the Trust&#146;s ability to participate in aggregate trades is expected to provide
better execution for the Trust.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cross-Transactions</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Board has adopted a
policy allowing trades to be made between affiliated registered investment
companies or series thereof provided they meet the condition of Rule&nbsp;17a-7
under the 1940 Act and conditions of the policy.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='40',FILE='C:\JMS\105566\08-11032-6\task3006068\11032-6-bi-07.htm',USER='105566',CD='Jun 26 15:43 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Portfolio Turnover Rate</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A change in securities held
in the portfolio of the Trust is known as &#147;portfolio turnover&#148; and may involve
the payment by the Fund of dealer mark-ups or brokerage or underwriting
commissions and other transaction costs on the sale of securities, as well as
on the reinvestment of the proceeds in other securities.&#160; Portfolio turnover rate for a fiscal year is
the percentage determined by dividing the lesser of the cost of purchases or
proceeds from sales of portfolio securities by average of the value of
portfolio securities during such year, all excluding securities whose
maturities at acquisition were one year or less.&#160; The Trust cannot accurately predict its
turnover rate, however the rate will be higher when the Trust finds it necessary
to significantly change its portfolio to adopt a temporary defensive position
or respond to economic or market events.&#160;
A high turnover rate would increase expenses and may involve realization
of capital gains by the Trust. The Trust&#146;s historical turnover rates are
included in the Financial Highlights table in the Prospectus.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The annual
rate of the Trust&#146;s total portfolio turnover for the years ended February&nbsp;28,
2007, 2006 and 2005 was 60%, 81%and 93%, respectively.&#160; The annual turnover rate of the Trust is
generally expected to be between 50% and 100%, although as part of its
investment policies, the Trust places no restrictions on portfolio turnover and
the Trust may sell any portfolio security without regard to the period of time
it has been held.&#160; The annual turnover
rate of the Trust also includes Senior Loans on which the Trust has received
full or partial payment.&#160; The Adviser
believes that full and partial payments on loans generally comprise
approximately 25% to 75% of the Trust&#146;s total portfolio turnover each year.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">NET ASSET VALUE</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The NAV per Common Share of the Trust is determined
each business day as of the close of regular trading on the NYSE (usually 4:00&nbsp;p.m.
Eastern time unless otherwise designated by the NYSE). The Trust is open for
business every day the NYSE is open. </font><font size="2" style="font-size:10.0pt;">As of the date of this SAI,
the NYSE is closed on the following holidays: New Year&#146;s Day, Martin Luther
King,&nbsp;Jr. Day, Presidents&#146; Day, Good Friday, Memorial Day, Independence
Day, Labor Day, Thanksgiving Day and Christmas Day. </font><font size="2" style="font-size:10.0pt;">&#160;The NAV per Common Share is determined by
dividing the value of the Trust&#146;s loan assets plus all cash and other assets
(including interest accrued but not collected) less all liabilities (including
accrued expenses but excluding capital and surplus) by the number of Common
Shares outstanding.&#160; The NAV per Common
Share is made available for publication. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">FEDERAL TAXATION</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
following is only a summary of certain U.S. federal income tax considerations
generally affecting the Trust and its shareholders.&#160; No attempt is made to present a detailed
explanation of the tax treatment of the Trust or its shareholders, and the
following discussion is not intended as a substitute for careful tax planning.&#160; Shareholders should consult with their own
tax advisers regarding the specific federal, state, local, foreign and other
tax consequences of investing in the Trust.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Qualification as a
Regulated Investment Company</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust will elect each year to be taxed as a
regulated investment company (&#147;RIC&#148;) under Subchapter M of the Internal Revenue
Code of 1986 (&#147;Code&#148;).&#160; As a RIC, the
Trust generally will not be subject to federal income tax on the portion of its
investment company taxable income (<i>i.e.</i>,
taxable interest, dividends and other taxable ordinary income, net of expenses,
and net short-term capital gains in excess of long-term capital losses) and net
capital gain (<i>i.e.</i>, the excess of
net long-term capital gains over the sum of net short-term capital losses and
capital loss carryovers from prior years) that it distributes to &#160;</font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='41',FILE='C:\JMS\105692\08-11032-6\task3005976\11032-6-bi-09.htm',USER='105692',CD='Jun 26 14:51 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">shareholders, provided that it distributes at least 90% of
its investment company taxable income for the taxable year (&#147;Distribution
Requirement&#148;), and satisfies certain other requirements of the Code that are
described below. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
addition to satisfying the Distribution Requirement and an asset
diversification requirement discussed below, a RIC must derive at least 90% of
its gross income for each taxable year from dividends, interest, certain
payments with respect to securities loans, gains from the sale or other
disposition of stock or securities or foreign currencies, net income derived
from an interest in a qualified publicly traded partnership and other income
(including, but not limited to, gains from options, futures or forward
contracts) derived with respect to its business of investing in such stock,
securities or currencies.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
addition to satisfying the requirements described above, the Trust must satisfy
an asset diversification test in order to qualify as a RIC.&#160; Under this test, at the close of each quarter
of the Trust&#146;s taxable year, at least 50% of the value of the Trust&#146;s assets
must consist of cash and cash items (including receivables), U.S. government
securities, securities of other regulated investment companies, and securities
of other issuers (as to which the Trust has not invested more than 5% of the
value of the Trust&#146;s total assets in securities of any such issuer and as to
which the Trust does not hold more than 10% of the outstanding voting
securities of any such issuer), and no more than 25% of the value of its total
assets may be invested in the securities of any one issuer (other than
U.S.&#160; government securities and
securities of other regulated investment companies), in two or more issuers
which the Trust controls and which are engaged in the same or similar trades or
businesses, or of one or more qualified publicly traded partnerships.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
general, gain or loss recognized by the Trust on the disposition of an asset
will be a capital gain or loss.&#160; However,
gain recognized on the disposition of a debt obligation purchased by the Trust
at a market discount (generally at a price less than its principal amount)
other than at the original issue will be treated as ordinary income to the
extent of the portion of the market discount which accrued during the period of
time the Trust held the debt obligation.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In general, investments by the Trust in zero-coupon
or other original issue discount securities will result in income to the Trust
equal to a portion of the excess of the face value of the securities over their
issue price (&#147;original issue discount&#148;) each year that the Trust holds the
securities, even though the Trust receives no cash interest payments.&#160; This income is included in determining the
amount of income which the Trust must distribute to maintain its status as a
RIC and to avoid federal income and excise taxes. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If for any
taxable year the Trust does not qualify as a RIC, all of its taxable income (including
its net capital gain) will be subject to tax at regular corporate rates without
any deduction for distributions to shareholders, and such distributions will be
taxable as ordinary dividends to the extent of the Trust&#146;s current and
accumulated earnings and profits.&#160; Such
distributions generally would be eligible for the dividends-received deduction
in the case of corporate shareholders.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Trust fails to qualify as a RIC in any
year, it must pay out its earnings and profits accumulated in that year in
order to qualify again as a RIC.&#160;
Moreover, if the Trust failed to qualify as a RIC for a period greater
than one taxable year, the Trust may be required to recognize any net built-in
gains with respect to certain of its assets (the excess of the aggregate gains,
including items of income, over aggregate losses that would have been realized
if the Trust had been liquidated) in order to qualify as a RIC in a subsequent
year.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">42</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='42',FILE='C:\JMS\105692\08-11032-6\task3005976\11032-6-bi-09.htm',USER='105692',CD='Jun 26 14:51 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Excise Tax On
Regulated Investment Companies</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A 4%
non-deductible excise tax is imposed on a RIC that fails to distribute in each
calendar year an amount equal to the sum of (1)&nbsp;98% of its ordinary
taxable income for the calendar year, (2)&nbsp;98% of its capital gain net
income (<i>i.e.</i>, capital gains in
excess of capital losses) for the one-year period ended on October&nbsp;31 of
such calendar year, and (3)&nbsp;any ordinary taxable income and capital gain
net income for previous years that was not distributed or taxed to the RIC
during those years.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust
intends to make sufficient distributions or deemed distributions (discussed
below) of its ordinary taxable income and capital gain net income to avoid
liability for the excise tax.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hedging Transactions</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust
has the ability, pursuant to its investment objectives and policies, to hedge
its investments in a variety of transactions, including interest rate swaps and
the purchase or sale of interest rate caps and floors. The treatment of these
transactions for federal income tax purposes may in some instances be unclear,
and the RIC qualification requirements may limit the extent to which the Trust
can engage in hedging transactions.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under
certain circumstances, the Trust may recognize gain from a constructive sale of
an appreciated financial position. If the Trust enters into certain
transactions in property while holding substantially identical property, the
Trust would be treated as if it had sold and immediately repurchased the
property and would be taxed on any gain (but not loss) from the constructive
sale. The character of gain from a constructive sale would depend upon the
Trust&#146;s holding period in the property. Loss from a constructive sale would be
recognized when the property was subsequently disposed of, and its character
would depend on the Trust&#146;s holding period and the application of various loss
deferral provisions in the Code. Constructive sale treatment does not apply to
transactions closed in the 90-day period ending with the 30th day after the
close of the taxable year, if certain conditions are met.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Distributions</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust
anticipates distributing all or substantially all of its investment company
taxable income for the taxable year.&#160;
Such distributions will be taxable to shareholders as ordinary income.&#160; If a portion of the Trust&#146;s income consists
of dividends paid by U.S. corporations, a portion of the dividends paid by the
Trust may be eligible for the corporate dividends received deduction.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust
may either retain or distribute to shareholders its net capital gain for each
taxable year.&#160; The Trust currently
intends to distribute any such amounts.&#160;
If net capital gain is distributed and designated as a capital gain
dividend, it will generally be taxable to shareholders at a maximum federal tax
rate of 15%.&#160; Distributions are subject
to these capital gains rates regardless of the length of time the shareholder
has held his shares.&#160; Conversely, if the
Trust elects to retain its net capital gain, the Trust will be taxed thereon
(except to the extent of any available capital loss carryovers) at the
applicable corporate tax rate.&#160; In such
event, it is expected that the Trust also will elect to treat such gain as
having been distributed to shareholders.&#160;
As a result, each shareholder will be required to report his pro rata
share of such gain on his tax return as long-term capital gain, will be
entitled to claim a tax credit for his pro rata share of tax paid by the Trust
on the gain, and will increase the tax basis for his shares by an amount equal
to the deemed distribution less the tax credit.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recently
enacted tax legislation generally provides for a maximum tax rate for
individual taxpayers of 15% on long-term capital gains from sales and on
certain qualifying dividend income.&#160; The
rate reductions do not apply to corporate taxpayers.&#160; The Trust will be able to separately
designate </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">43</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='43',FILE='C:\JMS\105692\08-11032-6\task3005976\11032-6-bi-09.htm',USER='105692',CD='Jun 26 14:51 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">distributions
of any qualifying long-term capital gains or qualifying dividends earned by the
Trust that would be eligible for the lower maximum rate, although it does not
expect to distribute a material amount of qualifying dividends.&#160; A shareholder would also have to qualify a
60-day holding period with respect to any distributions of qualifying dividend
in order to obtain the benefit of the lower rate.&#160; Distributions from funds, such as the Trust,
investing in debt instruments will not generally qualify for the lower rate.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Distributions
by the Trust in excess of the Trust&#146;s earnings and profits will be treated as a
return of capital to the extent of (and in reduction of) the shareholder&#146;s tax
basis in his shares; any such return of capital distributions in excess of the
shareholder&#146;s tax basis will be treated as gain from the sale of his shares, as
discussed below.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Distributions
by the Trust will be treated in the manner described above regardless of
whether such distributions are paid in cash or reinvested in additional shares
of the Trust.&#160; If the NAV at the time a
shareholder purchases shares of the Trust reflects undistributed income or
gain, distributions of such amounts will be taxable to the shareholder in the
manner described above, even though such distributions economically constitute
a return of capital to the shareholder.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A
distribution will be treated as paid on December&nbsp;31 of the current
calendar year if it is declared by the Trust in October, November&nbsp;or December&nbsp;with
a record date in such a month and paid by the Trust during January&nbsp;of the
following calendar year.&#160; Such
distributions will be taxed to shareholders in the calendar year in which the
distributions are declared, rather than the calendar year in which the
distributions are received.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust will be required in certain cases to
withhold and remit to the U.S. Treasury at the current rate of 28% of all
dividends and redemption proceeds payable to any shareholder (1)&nbsp;who fails
to provide the Trust with a certified, correct identification number or other
required certifications, or (2)&nbsp;if the IRS notifies the Trust that the
shareholder is subject to backup withholding.&#160;
Corporate shareholders and other shareholders specified in the Code are
exempt from such backup withholding. Backup withholding is not an additional
tax.&#160; Any amounts withheld may be
credited against the shareholder&#146;s U.S. federal income tax liability if the
appropriate information is provided to the IRS. </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sale of Common
Shares</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A
shareholder will recognize gain or loss on the sale or exchange of shares of
the Trust in an amount generally equal to the difference between the proceeds
of the sale and the shareholder&#146;s adjusted tax basis in the shares. In general,
any such gain or loss will be considered capital gain or loss if the shares are
held as capital assets, and gain or loss will be long-term or short-term,
depending upon the shareholder&#146;s holding period for the shares. However, any
capital loss arising from the sale of shares held for six months or less will
be treated as a long-term capital loss to the extent of any long-term capital
gains distributed (or deemed distributed) with respect to such shares. Also,
any loss realized on a sale or exchange of shares will be disallowed to the
extent the shares disposed of are replaced (including shares acquired through
the Shareholder Investment Program) within a period of 61 days beginning 30
days before and ending 30 days after the shares are disposed of. In such case,
the tax basis of the acquired shares will be adjusted to reflect the disallowed
loss. </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">44</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='44',FILE='C:\JMS\105692\08-11032-6\task3005976\11032-6-bi-09.htm',USER='105692',CD='Jun 26 14:51 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Repurchases
of Shares</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As
noted above, the Fund may take action to repurchase its shares.&#160; If a shareholder tenders all shares of the
Fund that he or she owns or is considered to own, the shareholder will realize
a taxable sale or exchange (see &#147;Sale of Common Shares&#148; above).&#160; If a shareholder tenders less than all of the
shares of the Fund that he or she owns or is considered to own, the repurchase
may not qualify as an exchange, and the proceeds received may be treated as a
dividend, return of capital or capital gain, depending on the Fund&#146;s earnings
and profits and the shareholder&#146;s basis in the tendered shares.&#160; If that occurs, there is a risk that
non-tendering shareholders may be considered to have received a deemed
distribution as a result of the Fund&#146;s purchase of tendered shares, and all or
a portion of that deemed distribution may be taxable as a dividend.</font></p>

<p align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Foreign Shareholders</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">U.S.
taxation of a shareholder who, as to the United States, is a nonresident alien
individual, foreign trust or estate, foreign corporation, or foreign
partnership (&#147;foreign shareholder&#148;) depends, in part, on whether the
shareholder&#146;s income from the Trust is effectively connected with a U.S.&#160; trade or business carried on by such
shareholder.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">If the income from the Trust is not
effectively connected with a U.S. trade or business carried on by a foreign
shareholder, distributions of investment company taxable income will be subject
to U.S.&#160; withholding tax at the rate of
30% (or lower treaty rate).&#160; Such a
foreign shareholder would generally be exempt from U.S. federal income tax on
gains realized on the sale or exchange of shares of the Trust, capital gain
dividends, and amounts retained by the Trust that are designated as
undistributed capital gains.&#160; </font>However,
subject to certain limitations and the receipt of further guidance form the
U.S. Treasury, dividends paid to certain foreign shareholders may be exempt
from U.S. tax through 2007 to the extent such dividends are attributable to
qualified interest and/or net short-term capital gains, provided that the Trust
elects to follow certain procedures.&#160; The
Trust may choose to not follow such procedures and there can be no assurance as
to the amount, if any, of dividends that would not be subject to withholding.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the
income from the Trust is effectively connected with a U.S. trade or business
carried on by a foreign shareholder, then distributions of investment company
taxable income, capital gain dividends, amounts retained by the Trust that are
designated as undistributed capital gains and any gains realized upon the sale
or exchange of shares of the Trust will be subject to U.S. federal income tax
at the rates applicable to U.S. citizens or domestic corporations.&#160; Such shareholders that are classified as
corporations for U.S.&#160; tax purposes also
may be subject to a branch profits tax.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the case of foreign noncorporate shareholders, the
Trust may be required to withhold U.S.&#160;
federal income tax at a rate of 30% on distributions that are otherwise
exempt from withholding tax (or taxable at a reduced treaty rate) unless such
shareholders furnish the Trust with proper notification of their foreign
status.&#160; (See &#147;Distributions.&#148;) </font></p>



<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The tax
consequences to a foreign shareholder entitled to claim the benefits of an
applicable tax treaty may be different from those described herein.&#160; Foreign shareholders are urged to consult
their own tax advisers with respect to the particular tax consequences to them
of an investment in the Trust, including the applicability of foreign taxes.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effect of Future
Legislation; Other Tax Considerations</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
foregoing general discussion of U.S. federal income tax consequences is based
on the Code and the Treasury Regulations issued thereunder as in effect on the
date of this SAI.&#160; Future legislative or </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='45',FILE='C:\JMS\105692\08-11032-6\task3005976\11032-6-bi-09.htm',USER='105692',CD='Jun 26 14:51 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">administrative
changes or court decisions may significantly change the conclusions expressed
herein, and any such changes or decisions may have a retroactive effect with
respect to the transactions contemplated herein.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income received by the Trust from foreign
sources may be subject to withholding and other taxes imposed by such foreign
jurisdictions, absent treaty relief.&#160;
Distributions to shareholders also may be subject to state, local and
foreign taxes, depending upon each shareholder&#146;s particular situation.&#160; Shareholders are urged to consult their tax
advisers as to the particular consequences to them of an investment in the
Trust.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">ADVERTISING AND
PERFORMANCE DATA</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Advertising</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">From time
to time, advertisements and other sales materials for the Trust may include
information concerning the historical performance of the Trust.&#160; Any such information may include trading
volume of the Trust&#146;s Common Shares, the number of Senior Loan investments,
annual total return, aggregate total return, distribution rate, average
compounded distribution rates and yields of the Trust for specified periods of
time, and diversification statistics.&#160;
Such information may also include rankings, ratings and other
information from independent organizations such as Lipper, Morningstar, Value
Line,&nbsp;Inc., CDA Technology,&nbsp;Inc., S&amp;P&#146;s, Portfolio Management
Data (a division of S&amp;P&#146;s), Moody&#146;s, Bloomberg or other industry
publications.&#160; These rankings will
typically compare the Trust to all closed-end Funds, to other Senior Loan
funds, and/or also to taxable closed-end fixed income funds.&#160; Any such use of rankings and ratings in
advertisements and sales literature will conform with the guidelines of FINRA
approved by the SEC.&#160; Ranking comparisons
and ratings should not be considered representative of the Trust&#146;s relative
performance for any future period.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reports
and promotional literature may also contain the following information:&#160; (i)&nbsp;number of shareholders; (ii)&nbsp;average
account size; (iii)&nbsp;identification of street and registered account
holdings; (iv)&nbsp;lists or statistics of certain of the Trust&#146;s holdings
including, but not limited to, portfolio composition, sector weightings,
portfolio turnover rates, number of holdings, average market capitalization and
modern portfolio theory statistics alone or in comparison with itself (over
time) and with its peers and industry group; (v)&nbsp;public information about
the assets class; and (vi)&nbsp;discussions concerning coverage of the Trust by
analysts.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
addition, reports and promotional literature may contain information concerning
the Adviser, the Sub-Adviser, ING Groep, the portfolio managers, the
Administrator or affiliates of the Trust including (i)&nbsp;performance
rankings of other funds managed by the Adviser or Sub-Adviser, or the
individuals employed by the Adviser or Sub-Adviser who exercise responsibility
for the day-to-day management of the Trust, including rankings and ratings of
investment companies published by Lipper, Morningstar, Value Line,&nbsp;Inc.,
CDA Technologies,&nbsp;Inc., or other rating services, companies, publications
or other persons who rank or rate investment companies or other investment
products on overall performance or other criteria; (ii)&nbsp;lists of clients,
the number of clients, or assets under management; (iii)&nbsp;information
regarding the acquisition of the ING Funds by ING Capital; (iv)&nbsp;the past
performance of ING Capital and ING Funds Services; (v)&nbsp;the past
performance of other funds managed by the Adviser or Sub-Adviser; (vi)&nbsp;quotes
from a portfolio manager of the Trust or industry specialists; and (vii)&nbsp;information
regarding rights offerings conducted by closed-end funds managed by the Adviser
or Sub-Adviser.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust
may compare the frequency of its reset period to the frequency which LIBOR
changes.&#160; Further, the Trust may compare
its yield to (i)&nbsp;LIBOR, (ii)&nbsp;the federal funds rate, (iii)&nbsp;the
Prime Rate, quoted daily in the Wall Street Journal as the base rate on
corporate loans at large U.S. money center </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='46',FILE='C:\JMS\105692\08-11032-6\task3005976\11032-6-bi-09.htm',USER='105692',CD='Jun 26 14:51 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">commercial
banks, (iv)&nbsp;the average yield reported by the Bank Rate Monitor National
Index for money market deposit accounts offered by the 100 leading banks and
thrift institutions in the ten largest standard metropolitan statistical areas,
(v)&nbsp;yield data published by Lipper, Bloomberg or other industry sources,
or (vi)&nbsp;the yield on an investment in 90-day Treasury bills on a rolling
basis, assuming quarterly compounding.&#160;
Further, the Trust may compare such other yield data described above to
each other.&#160; The Trust may also compare
its total return, NAV stability and yield to fixed-income investments.&#160; As with yield and total return calculations,
yield comparisons should not be considered representative of the Trust&#146;s yield
or relative performance for any future period.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust
may provide information designed to help individuals understand their
investment goals and explore various financial strategies.&#160; Such information may include information
about current economic, market and political conditions; materials that
describe general principles of investing, such as asset allocation,
diversification, risk tolerance, and goal setting; worksheets used to project
savings needs based on assumed rates of inflation and hypothetical rates of
return; and action plans offering investment alternatives.&#160; Materials may also include discussion of
other investment companies in the ING Funds, products and services, and
descriptions of the benefits of working with investment professionals in
selecting investments.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Performance Data</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust
may quote annual total return and aggregate total return performance data.&#160; Total return quotations for the specified
periods will be computed by finding the rate of return (based on net investment
income and any capital gains or losses on portfolio investments over such
periods) that would equate the initial amount invested to the value of such
investment at the end of the period.&#160; On
occasion, the Trust may quote total return calculations published by Lipper, a
widely recognized independent publication that monitors the performance of both
open-end and closed-end investment companies.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust&#146;s
distribution rate is calculated on a monthly basis by annualizing the dividend
declared in the month and dividing the resulting annualized dividend amount by
the Trust&#146;s corresponding month-end NAV (in the case of NAV) or the last
reported market price (in the case of Market).&#160;
The distribution rate is based solely on the actual dividends and
distributions, which are made at the discretion of management.&#160; The distribution rate may or may not include
all investment income, and ordinarily will not include capital gains or losses,
if any.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total
return and distribution rate and compounded distribution rate figures utilized
by the Trust are based on historical performance and are not intended to
indicate future performance.&#160;
Distribution rate, compounded distribution rate and NAV per share can be
expected to fluctuate over time.&#160; Total
return will vary depending on market conditions, the Senior Loans, and other
securities comprising the Trust&#146;s portfolio, the Trust&#146;s operating expenses and
the amount of net realized and unrealized capital gains or losses during the
period.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">GENERAL INFORMATION</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Custodian</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">State
Street Bank and Trust Company, 801 Pennsylvania Avenue, Kansas City, Missouri
64105 has been retained to act as the custodian for the Trust.&#160; State Street Bank and Trust Company does not
have any part in determining the investment policies of the Trust or in
determining which portfolio securities are to be purchased or sold by the Trust
or in the declaration of dividends and distributions.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">47</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='47',FILE='C:\JMS\105692\08-11032-6\task3005976\11032-6-bi-09.htm',USER='105692',CD='Jun 26 14:51 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Legal Counsel</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Legal
matters for the Trust are passed upon by Dechert LLP, 1775 I Street, NW,
Washington, DC 20006.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Independent
Registered Public Accounting Firm</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">KPMG LLP, serves as the independent
registered public accounting firm for the Trust.&#160; </font>KPMG LLP provides audit
services, tax return preparation and assistance and consultation in connection
with review of SEC filings. KPMG LLP is located at 99 High Street, Boston,
Massachusetts 02110.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;font-weight:bold;">FINANCIAL STATEMENTS</font></i></b></h1>

<h1 align="center" style="font-style:italic;font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></h1>



<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Financial Statements and the independent registered public
accounting firms report thereon, appearing in the Trust&#146;s annual shareholder
report for the period ended February&nbsp;29, 2008 are incorporated by
reference in this SAI.&#160; The Trust&#146;s
annual and semi-annual (unaudited) shareholder reports are available at 7337
East Doubletree Ranch Road, Scottsdale, Arizona 85258, upon request and without
charge by calling (800) 992-0180. </font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">48</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='48',FILE='C:\JMS\105692\08-11032-6\task3005976\11032-6-bi-09.htm',USER='105692',CD='Jun 26 14:51 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h6 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:none;">ING FUNDS</font></b></h6>

<h6 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h6>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROXY VOTING PROCEDURES AND GUIDELINES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:gray;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-weight:bold;">Effective Date:&#160; July&nbsp;10, 2003</font></b></p>

<p align="center" style="color:gray;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-weight:bold;">Revision Date:&#160; March&nbsp;27, 2008</font></b></p>

<p align="center" style="color:gray;margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="color:gray;margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="color:gray;margin:0in 0in .0001pt;text-align:center;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">I.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">INTRODUCTION</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following are the
Proxy Voting Procedures and Guidelines (the &#147;Procedures and Guidelines&#148;) of the
ING Funds set forth on <b><i style="font-weight:bold;">Exhibit&nbsp;1
</i></b>attached hereto and each portfolio or series thereof, except for
any &#147;Sub-Adviser-Voted Series&#148; identified on <b><i style="font-weight:bold;">Exhibit&nbsp;1</i></b>
and further described in Section&nbsp;III below (each non-Sub-Adviser-Voted Series&nbsp;hereinafter
referred to as a &#147;Fund&#148; and collectively, the &#147;Funds&#148;).&#160; The purpose of these Procedures and
Guidelines is to set forth the process by which each Fund subject to these
Procedures and Guidelines will vote proxies related to the equity assets in its
investment portfolio (the &#147;portfolio securities&#148;).&#160; The Procedures and Guidelines have been
approved by the Funds&#146; Boards of Trustees/Directors(1)&nbsp;(each a &#147;Board&#148; and
collectively, the &#147;Boards&#148;), including a majority of the independent
Trustees/Directors(2)&nbsp;of the Board.&#160;
These Procedures and Guidelines may be amended only by the Board.&#160; The Board shall review these Procedures and
Guidelines at its discretion, and make any revisions thereto as deemed
appropriate by the Board.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">II.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">COMPLIANCE COMMITTEE</font></b></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Boards hereby
delegate to the Compliance Committee of each Board (each a &#147;Committee&#148; and
collectively, the &#147;Committees&#148;) the authority and responsibility to oversee the
implementation of these Procedures and Guidelines, and where applicable, to
make determinations on behalf of the Board with respect to the voting of
proxies on behalf of each Fund.&#160;
Furthermore, the Boards hereby delegate to each Committee the authority
to review and approve material changes to proxy voting procedures of any Fund&#146;s
investment adviser (the &#147;Adviser&#148;).&#160; The
Proxy Voting Procedures of the Adviser (the &#147;Adviser Procedures&#148;) are attached
hereto as <b><i style="font-weight:bold;">Exhibit&nbsp;2</i></b>.&#160; Any determination regarding the voting of
proxies of each Fund that is made by a Committee, or any member thereof, as
permitted herein, shall be deemed to be a good faith determination regarding
the voting of proxies by the full Board.&#160;
Each Committee</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">(1)</font><font size="1" style="font-size:8.5pt;letter-spacing:-.15pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;letter-spacing:-.15pt;">Reference in these
Procedures to one or more Funds shall, as applicable, mean those Funds that are
under the jurisdiction of the particular Board or Compliance Committee at
issue.&#160; No provision in these Procedures
is intended to impose any duty upon the particular Board or Compliance&#160; Committee with respect to any other Fund.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">(2)</font><font size="1" style="font-size:8.5pt;letter-spacing:-.15pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;letter-spacing:-.15pt;">The independent
Trustees/Directors are those Board members who are not &#147;interested persons&#148; of
the Funds within the meaning of Section&nbsp;2(a)(19) of the Investment Company
Act of 1940.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-1',FILE='C:\JMS\C900115\08-8256-2\task3008260\8256-2-be-01.htm',USER='105691',CD='Jun 27 11:23 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">may rely on the Adviser
through the Agent, Proxy Coordinator and/or Proxy Group (as such terms are
defined for purposes of the Adviser Procedures) to deal in the first instance
with the application of these Procedures and Guidelines.&#160; Each Committee shall conduct itself in
accordance with its charter.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">III.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">DELEGATION OF VOTING AUTHORITY</font></b></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as otherwise
provided for herein, the Board hereby delegates to the Adviser to each Fund the
authority and responsibility to vote all proxies with respect to all portfolio
securities of the Fund in accordance with then current proxy voting procedures
and guidelines that have been approved by the Board.&#160; The Board may revoke such delegation with
respect to any proxy or proposal, and assume the responsibility of voting any
Fund proxy or proxies as it deems appropriate.&#160;
Non-material amendments to the Procedures and Guidelines may be approved
for immediate implementation by the President or Chief Financial Officer of a
Fund, subject to ratification at the next regularly scheduled meeting of the
Compliance Committee.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A Board may elect to
delegate the voting of proxies to the Sub-Adviser of a portfolio or series of
the ING Funds.&#160; In so doing, the Board
shall also approve the Sub-Adviser&#146;s proxy policies for implementation on
behalf of such portfolio or series (a &#147;Sub-Adviser-Voted Series&#148;).&#160; Sub-Adviser-Voted Series&nbsp;shall not be
covered under these Procedures and Guidelines but rather shall be covered by
such Sub-Adviser&#146;s proxy policies, provided that the Board, including a
majority of the independent Trustees/Directors(1), has approved them on behalf
of such Sub-Adviser-Voted Series.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">When a Fund participates in the lending of its
securities and the securities are on loan at record date, proxies related to
such securities will not be forwarded to the Adviser by the <font style="letter-spacing:-.15pt;">Fund&#146;s </font></font><font size="2" style="font-size:10.0pt;letter-spacing:-.15pt;">custodian
and therefore will not be voted.&#160; </font><font size="2" style="font-size:10.0pt;">However, the
Adviser shall use best efforts to&#160; recall
or restrict specific securities from loan for the purpose of facilitating a &#147;material&#148;
vote as described in the Adviser Procedures.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">Funds that are &#147;funds-of-funds&#148;
will &#147;echo&#148; vote their interests in underlying mutual funds, which may include
ING Funds (or portfolios or series thereof) other than those set forth on <b><i style="font-weight:bold;">Exhibit&nbsp;1</i></b>
attached hereto.&#160; This means that, if the
fund-of-funds must vote on a proposal with respect to an underlying investment
company, the fund-of-funds will vote its interest in that underlying fund in
the same proportion all other shareholders in the investment company voted
their interests.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">A fund that is a &#147;feeder&#148; fund
in a master-feeder structure does not echo vote.&#160; Rather, it passes votes requested by the
underlying master fund to its shareholders.&#160;
This means that, if the feeder fund is solicited by the master fund, it
will request instructions from its own shareholders, either directly or, in the
case of an insurance-dedicated Fund, through an insurance product or retirement
plan, as to the manner in which to vote its interest in an underlying master
fund.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The independent Trustees/Directors are
those Board members who are not &#147;interested persons&#148; of the Funds within the meaning
of Section&nbsp;2(a)(19) of the Investment Company Act of 1940.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-2',FILE='C:\JMS\C900115\08-8256-2\task3008260\8256-2-be-01.htm',USER='105691',CD='Jun 27 11:23 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">When
a Fund is a feeder in a master-feeder structure, proxies for the portfolio
securities</font><font size="2" style="font-size:10.0pt;"> owned by
the master fund will be voted pursuant to the master fund&#146;s proxy voting
policies and procedures.&#160; As such, and
except as otherwise noted herein with respect to vote reporting requirements,
feeder Funds shall not be subject to these Procedures and Guidelines.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">IV.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">APPROVAL AND REVIEW OF PROCEDURES</font></b></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">Each Fund&#146;s Adviser has adopted proxy voting
procedures in connection with the voting of portfolio securities for the Funds
as attached hereto in <b><i style="font-weight:bold;">Exhibit&nbsp;2</i></b>.&#160; The Board hereby approves such
procedures.&#160; All material changes to the </font><font size="2" style="font-size:10.0pt;">Adviser Procedures </font><font size="2" style="font-size:10.0pt;letter-spacing:0pt;">must be approved by
the Board or the </font><font size="2" style="font-size:10.0pt;">Compliance</font><font size="2" style="font-size:10.0pt;letter-spacing:0pt;"> Committee prior to
implementation; however, the President or Chief Financial Officer of a Fund may
make such non-material changes as they deem appropriate, subject to
ratification by the Board or the </font><font size="2" style="font-size:10.0pt;">Compliance </font><font size="2" style="font-size:10.0pt;letter-spacing:0pt;">Committee at its next regularly
scheduled meeting.</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">V.</font></b><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">VOTING PROCEDURES AND GUIDELINES</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">The
Guidelines that are set forth in </font></b><i><font size="2" style="font-size:10.0pt;font-style:italic;">Exhibit&nbsp;3
</font></i><font size="2" style="font-size:10.0pt;font-weight:normal;">hereto
specify the manner in which the Funds generally will vote with respect to the
proposals discussed therein.</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise noted,
the defined terms used hereafter shall have the same meaning as defined in the
Adviser Procedures</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h5 style="font-weight:normal;line-height:normal;margin:0in 0in .0001pt 1.0in;page-break-after:avoid;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Routine Matters</font></h5>

<h5 style="font-weight:normal;line-height:normal;margin:0in 0in .0001pt 1.0in;page-break-after:avoid;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h5>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Agent shall be instructed to submit a vote in accordance with the
Guidelines where such Guidelines provide a clear &#147;For,&#148; &#147;Against,&#148; &#147;Withhold&#148;
or &#147;Abstain&#148; on a proposal.&#160; However, the
Agent shall be directed to refer any proxy proposal to the Proxy Coordinator
for instructions as if it were a matter requiring case-by-case consideration
under circumstances where the application of the Guidelines is unclear, it
appears to involve unusual or controversial issues, or an Investment
Professional (as such term is defined for purposes of the Adviser Procedures)
recommends a vote contrary to the Guidelines.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;text-indent:-31.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Matters Requiring Case-by-Case
Consideration</font></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Agent shall be directed to refer proxy proposals accompanied by its
written analysis and voting recommendation to the Proxy Coordinator where the
Guidelines have noted &#147;case-by-case&#148; consideration.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Upon receipt of a referral from the Agent, the Proxy
Coordinator may solicit additional research from the Agent, Investment
Professional(s), as well as from any other source or service.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except in cases in which the Proxy Group has
previously provided the Proxy Coordinator with standing instructions to vote in
accordance with the Agent&#146;s recommendation, the Proxy Coordinator will forward
the Agent&#146;s analysis and recommendation and/or any </font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-3</font></p>

<div style="line-height:normal;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-3',FILE='C:\JMS\C900115\08-8256-2\task3008260\8256-2-be-01.htm',USER='105691',CD='Jun 27 11:23 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">research obtained from the Investment Professional(s),
the Agent or any other source to the Proxy Group.&#160; The Proxy Group may consult with the Agent
and/or Investment Professional(s), as it deems necessary.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Proxy Coordinator shall use best efforts to convene the Proxy Group with respect to all matters requiring its
consideration.&#160; In the event quorum
requirements cannot be timely met in connection with a voting deadline, it
shall be the policy of the Funds to vote in accordance with the Agent&#146;s
recommendation, unless the Agent&#146;s recommendation is deemed to be conflicted as
provided for under the Adviser Procedures, in which case no action shall be
taken on such matter (<i>i.e.</i>, a &#147;Non-Vote&#148;).</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Within-Guidelines Votes:</font></b><font size="2" style="font-size:10.0pt;">&#160;
Votes in Accordance with a Fund&#146;s Guidelines and/or, where applicable,
Agent Recommendation</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-49.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the event the Proxy
Group, and where applicable, any Investment Professional participating in the
voting process, recommend a vote Within Guidelines, the Proxy Group will
instruct the Agent, through the Proxy Coordinator, to vote in this manner.&#160; Except as provided for herein, no Conflicts
Report (as such term is defined for purposes of the Adviser Procedures) is
required in connection with Within-Guidelines Votes.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Non-Votes:</font></b><font size="2" style="font-size:10.0pt;">&#160;
Votes in Which No Action is Taken</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Proxy Group may recommend that a Fund refrain from
voting under circumstances including, but not limited to, the following:&#160; (1)&nbsp;if the economic effect on
shareholders&#146; interests or the value of the portfolio holding is indeterminable
or insignificant, <i>e.g.</i>, proxies
in connection with fractional shares, securities no longer held in the
portfolio of an ING Fund or proxies being considered on behalf of a Fund that
is no longer in existence; or (2)&nbsp;if the cost of voting a proxy outweighs
the benefits, <i>e.g.</i>, certain international
proxies, particularly in cases in which share blocking practices may impose
trading restrictions on the relevant portfolio security.&#160; In such instances, the Proxy Group may
instruct the Agent, through the Proxy Coordinator, not to vote such proxy.&#160; The Proxy Group may provide the Proxy
Coordinator with standing instructions on parameters that would dictate a
Non-Vote without the Proxy Group&#146;s review of a specific proxy.&#160; It is noted a Non-Vote determination would
generally not be made in connection with voting rights received pursuant to
class action participation; while a Fund may no longer hold the security, a
continuing economic effect on shareholders&#146; interests is likely.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reasonable efforts shall be made to secure and vote
all other proxies for the Funds, but, particularly in markets in which
shareholders&#146; rights are limited, Non-Votes may also occur in connection with a
Fund&#146;s related inability to timely access ballots or other proxy information in
connection with its portfolio securities.</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-4</font></p>

<div style="line-height:normal;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-4',FILE='C:\JMS\C900115\08-8256-2\task3008260\8256-2-be-01.htm',USER='105691',CD='Jun 27 11:23 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-Votes may also result in certain cases in which
the Agent&#146;s recommendation has been deemed to be conflicted, as described in
V.B. above and V.B.4. below.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Out-of-Guidelines Votes:</font></b><font size="2" style="font-size:10.0pt;">&#160;
Votes Contrary to Procedures and Guidelines, or Agent Recommendation,
where applicable, Where No Recommendation is Provided by Agent, or Where Agent&#146;s Recommendation is Conflicted</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Proxy Group recommends that a Fund vote
contrary to the Procedures and Guidelines, or the recommendation of the Agent,
where applicable, if the Agent has made no recommendation on a matter requiring
case-by-case consideration and the Procedures and Guidelines are silent, or the Agent&#146;s recommendation on a matter
requiring case-by-case consideration is
deemed to be conflicted as provided for under the Adviser Procedures,
the Proxy Coordinator will then request that all members of the Proxy Group,
including any members not in attendance at the meeting at which the relevant
proxy is being considered, and each Investment Professional participating in
the voting process complete a Conflicts Report (as such term is defined for
purposes of the Adviser Procedures).&#160; As
provided for in the Adviser Procedures, the Proxy Coordinator shall be responsible
for identifying to Counsel potential conflicts of interest with respect to the
Agent.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If Counsel determines that a conflict of interest
appears to exist with respect to the Agent, any member of the Proxy Group or
the participating Investment Professional(s), the Proxy Coordinator will then
contact the Compliance Committee(s)&nbsp;and forward to such Committee(s)&nbsp;all
information relevant to their review, including the following materials or a
summary thereof:&#160; the applicable
Procedures and Guidelines, the recommendation of the Agent, where applicable,
the recommendation of the Investment Professional(s), where applicable, any
resources used by the Proxy Group in arriving at its recommendation, the
Conflicts Report and any other written materials establishing whether a
conflict of interest exists, and findings of Counsel (as such term is defined
for purposes of the Adviser Procedures).&#160;
Upon Counsel&#146;s finding that a conflict of interest exists with respect
to one or more members of the Proxy Group or the Advisers generally, the
remaining members of the Proxy Group shall not be required to complete a
Conflicts Report in connection with the proxy.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If Counsel determines that there does not appear to be
a conflict of interest with respect to the Agent, any member of the Proxy Group
or the participating Investment Professional(s), the Proxy Coordinator will
instruct the Agent to vote the proxy as recommended by the Proxy Group.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Referrals to a Fund&#146;s Compliance Committee</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;page-break-after:avoid;text-indent:-.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A Fund&#146;s Compliance Committee may consider all
recommendations, analysis, research and Conflicts Reports provided to it by the
Agent, Proxy Group and/or Investment Professional(s), and any other written
materials used to establish </font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-5</font></p>

<div style="line-height:normal;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-5',FILE='C:\JMS\C900115\08-8256-2\task3008260\8256-2-be-01.htm',USER='105691',CD='Jun 27 11:23 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">whether a conflict of interest exists, in determining
how to vote the proxies referred to the Committee.&#160; The Committee will instruct the Agent through
the Proxy Coordinator how to vote such referred proposals.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Proxy Coordinator shall use best efforts to timely
refer matters to a Fund&#146;s Committee for its
consideration.&#160; In the event any such
matter cannot be timely referred to or considered by the Committee, it shall be the policy of the Funds to vote in
accordance with the Agent&#146;s recommendation, unless the Agent&#146;s recommendation
is conflicted on a matter requiring case-by-case consideration, in which case no action shall be taken on such
matter (<i>i.e.</i>, a &#147;Non-Vote&#148;).</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Proxy Coordinator will maintain a record of all
proxy questions that have been referred to a Fund&#146;s Committee, all applicable
recommendations, analysis, research and Conflicts Reports.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">VI.</font></b><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">CONFLICTS OF INTEREST</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">In all cases in which a vote has not been clearly determined in advance by
the Procedures and Guidelines or for which the Proxy Group recommends an
Out-of-Guidelines Vote, and </font><font size="2" style="font-size:10.0pt;">Counsel has determined that a conflict of interest appears to exist
with respect to the Agent, any member of the Proxy Group, or any Investment
Professional participating in the voting process, </font><font size="2" style="font-size:10.0pt;letter-spacing:0pt;">the proposal shall be referred to
the Fund&#146;s Committee for determination so that the Adviser shall have no
opportunity to vote a Fund&#146;s proxy in a situation in which it or the Agent may
be deemed to have a conflict of interest.&#160;
In the event a member of a Fund&#146;s Committee believes he/she has a
conflict of interest that would preclude him/her from making a voting
determination in the best interests of the beneficial owners of the applicable
Fund, such Committee member shall so advise the Proxy Coordinator and recuse
himself/herself with respect to determinations regarding the relevant proxy.</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">VII.</font></b><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">REPORTING AND RECORD RETENTION</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Annually in August, each
Fund will post its proxy voting record or a link thereto, for the prior
one-year period ending on June&nbsp;30<sup>th</sup> on the ING Funds website.&#160; No proxy voting record will be posted on the
ING Funds website for any Fund that is a feeder in a master/feeder structure;
however, a cross-reference to that of the master fund&#146;s proxy voting record as
filed in the SEC&#146;s EDGAR database will be posted on the ING Funds website.&#160; The proxy voting record for each Fund will
also be available in the EDGAR database on the SEC&#146;s website.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-6</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-6',FILE='C:\JMS\C900115\08-8256-2\task3008260\8256-2-be-01.htm',USER='105691',CD='Jun 27 11:23 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT 1</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">to the</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Funds</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Proxy
Voting Procedures</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING ASIA PACIFIC
HIGH DIVIDEND EQUITY INCOME FUND</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING EQUITY TRUST</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING FUNDS TRUST</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GLOBAL
ADVANTAGE AND PREMIUM OPPORTUNITY FUND</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GLOBAL EQUITY
DIVIDEND AND PREMIUM OPPORTUNITY FUND</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING INFRASTRUCTURE DEVELOPMENT EQUITY FUND</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING INTERNATIONAL
HIGH DIVIDEND EQUITY INCOME FUND</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING INVESTMENT
FUNDS, INC.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING INVESTORS
TRUST</font><font size="2" style="font-size:10.0pt;">(1)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING MAYFLOWER
TRUST</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING MUTUAL FUNDS</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PARTNERS, INC.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PRIME RATE
TRUST</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING RISK MANAGED
NATURAL RESOURCES FUND</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SENIOR INCOME
FUND</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SEPARATE
PORTFOLIOS TRUST</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING VARIABLE
INSURANCE TRUST</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING VARIABLE
PRODUCTS TRUST</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING VP NATURAL
RESOURCES TRUST</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Sub-Adviser-Voted Series:</font></i><font size="2" style="font-size:10.0pt;">&#160;
ING Franklin Mutual Shares Portfolio</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT 2</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">to the</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Funds</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proxy Voting Procedures</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING INVESTMENTS, LLC,</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING INVESTMENT
MANAGEMENT CO.</font></b></h1>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">AND</font></b></h2>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">DIRECTED SERVICES, LLC</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROXY VOTING PROCEDURES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">I.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">INTRODUCTION</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Investments, LLC, ING Investment Management Co. and Directed
Services, LLC (each an &#147;Adviser&#148; and collectively, the &#147;Advisers&#148;) are the
investment advisers for the registered investment companies and each series or
portfolio thereof (each a &#147;Fund&#148; and collectively, the &#147;Funds&#148;) comprising the
ING family of funds.&#160; As such, the
Advisers have been delegated the authority to vote proxies with respect to
securities for certain Funds over which they have day-to-day portfolio
management responsibility.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Advisers will abide by the proxy voting guidelines adopted by a
Fund&#146;s respective Board of Directors or Trustees (each a &#147;Board&#148; and
collectively, the &#147;Boards&#148;) with regard to the voting of proxies unless
otherwise provided in the proxy voting procedures adopted by a Fund&#146;s Board.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In voting proxies, the
Advisers are guided by general fiduciary principles.&#160; Each must act prudently, solely in the
interest of the beneficial owners of the Funds it manages.&#160; The Advisers will not subordinate the
interest of beneficial owners to unrelated objectives.&#160; Each Adviser will vote proxies in the manner
that it believes will do the most to maximize shareholder value.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following are the Proxy Voting Procedures of ING
Investments, LLC, ING Investment Management Co. and Directed Services, LLC (the
&#147;Adviser Procedures&#148;) with respect to the voting of proxies on behalf of their
client Funds as approved by the respective Board of each Fund.</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise noted,
best efforts shall be used to vote proxies in all instances.</font></p>

<p align="center" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">II.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">ROLES AND RESPONSIBILITIES</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Proxy Coordinator</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Proxy Coordinator identified in <i>Appendix 1</i> will assist in the coordination of the voting of
each Fund&#146;s proxies in accordance with the ING Funds Proxy Voting Procedures
and Guidelines (the &#147;Procedures&#148; or &#147;Guidelines&#148; and collectively the &#147;Procedures
and Guidelines&#148;).&#160; The Proxy Coordinator
is authorized to direct the Agent to vote a Fund&#146;s proxy in accordance with the
Procedures and Guidelines unless the Proxy Coordinator receives a
recommendation from an Investment Professional (as described below) to vote
contrary to the Procedures and Guidelines.&#160;
In such event, and in connection with proxy proposals requiring
case-by-case consideration (except in cases in which the Proxy Group has
previously provided the Proxy Coordinator with standing instructions to vote in
accordance with the Agent&#146;s recommendation), the Proxy Coordinator will call a
meeting of the Proxy Group (as described below).</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Responsibilities assigned herein to the Proxy
Coordinator, or activities in support thereof, may be performed by such members
of the Proxy Group or employees of the Advisers&#146; affiliates as are deemed
appropriate by the Proxy Group.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless specified otherwise, information provided to
the Proxy Coordinator in connection with duties of the parties described herein
shall be deemed delivered to the Advisers.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Agent</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">An independent proxy voting service (the &#147;Agent&#148;), as
approved by the Board of each Fund, shall be engaged to assist in the voting of
Fund proxies for publicly traded securities through the provision of vote
analysis, implementation, recordkeeping and disclosure services.&#160; The Agent is ISS Governance Services, a unit
of RiskMetrics Group,&nbsp;Inc.&#160; The
Agent is responsible for coordinating with the Funds&#146; custodians to ensure that
all proxy materials received by the custodians relating to the portfolio
securities are processed in a timely fashion.&#160;
To the extent applicable, the Agent is required to vote and/or refer all
proxies in accordance with these Adviser Procedures.&#160; The Agent will retain a record of all proxy
votes handled by the Agent.&#160; Such record
must reflect all the information required to be disclosed in a Fund&#146;s Form&nbsp;N-PX
pursuant to Rule&nbsp;30b1-4 under the Investment Company Act.&#160; In addition, the Agent is responsible for
maintaining copies of all proxy statements received by issuers and to promptly
provide such materials to the Adviser upon request.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Agent shall be instructed to vote all proxies in
accordance with a Fund&#146;s Guidelines, except as otherwise instructed through the
Proxy Coordinator by the Adviser&#146;s Proxy Group or a Fund&#146;s Compliance Committee
(&#147;Committee&#148;).</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Agent shall be
instructed to obtain all proxies from the Funds&#146; custodians and to review each
proxy proposal against the Guidelines.&#160;
The Agent also shall be requested to </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-9</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-9',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">call the Proxy Coordinator&#146;s
attention to specific proxy proposals that although governed by the Guidelines
appear to involve unusual or controversial issues.</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to the
oversight of the Advisers, the Agent shall establish and maintain adequate
internal controls and policies in connection with the provision of proxy voting
services voting to the Advisers, including methods to reasonably ensure that
its analysis and recommendations are not influenced by conflict of interest,
and shall disclose such controls and policies to the Advisers when and as
provided for herein.&#160; Unless otherwise
specified, references herein to recommendations of the Agent shall refer to
those in which no conflict of interest has been identified.</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;page-break-after:avoid;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Proxy Group</font></p>

<p style="margin:0in 0in .0001pt 1.0in;page-break-after:avoid;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Adviser shall establish a Proxy Group (the &#147;Group&#148; or &#147;Proxy Group&#148;)
which shall assist in the review of the Agent&#146;s recommendations when a proxy
voting issue is referred to the Group through the Proxy Coordinator.&#160; The members of the Proxy Group, which may
include employees of the Advisers&#146; affiliates, are identified in <i>Appendix 1</i>, as may be amended from time at the Advisers&#146;
discretion.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A minimum of four (4)&nbsp;members of the Proxy Group (or three (3)&nbsp;if
one member of the quorum is either the Fund&#146;s Chief Investment Risk Officer or
Chief Financial Officer) shall constitute a quorum for purposes of taking
action at any meeting of the Group.&#160; The
vote of a simple majority of the members present and voting shall determine any
matter submitted to a vote.&#160; Tie votes
shall be broken by securing the vote of members not present at the meeting;
provided, however, that the Proxy Coordinator shall ensure compliance with all
applicable voting and conflict of interest procedures and shall use best
efforts to secure votes from all or as many absent members as may reasonably be
accomplished.&#160; The Proxy Group may meet
in person or by telephone.&#160; The Proxy
Group also may take action via electronic mail in lieu of a meeting, provided
that each Group member has received a copy of any relevant electronic mail transmissions
circulated by each other participating Group member prior to voting and
provided that the Proxy Coordinator follows the directions of a majority of a
quorum (as defined above) responding via electronic mail.&#160; For all votes taken in person or by telephone
or teleconference, the vote shall be taken outside the presence of any person
other than the members of the Proxy Group and such other persons whose
attendance may be deemed appropriate by the Proxy Group from time to time in
furtherance of its duties or the day-to-day administration of the Funds.&#160; In its discretion, the Proxy Group may
provide the Proxy Coordinator with standing instructions to perform
responsibilities assigned herein to the Proxy Group, or activities in support
thereof, on its behalf, provided that such instructions do not contravene any
requirements of these Adviser Procedures
or a Fund&#146;s Procedures and
Guidelines.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A meeting of the Proxy Group will be held whenever (1)&nbsp;the Proxy
Coordinator receives a recommendation from an Investment Professional to vote a
Fund&#146;s proxy contrary to the Procedures and Guidelines, or the recommendation
of the Agent, where applicable, </font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-10</font></p>

<div style="line-height:normal;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-10',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&nbsp;the Agent has made no recommendation with respect to a vote on
a proposal, or (3)&nbsp;a matter requires
case-by-case consideration, including those in which the Agent&#146;s recommendation
is deemed to be conflicted as provided for under these Adviser Procedures,
provided that, if the Proxy Group has previously provided the Proxy Coordinator
with standing instructions to vote in accordance with the Agent&#146;s
recommendation and no issue of conflict must be considered, the Proxy
Coordinator may implement the instructions without calling a meeting of the
Proxy Group.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For each proposal referred to the Proxy Group, it will review (1)&nbsp;the
relevant Procedures and Guidelines, (2)&nbsp;the recommendation of the Agent,
if any, (3)&nbsp;the recommendation of the Investment Professional(s), if any,
and (4)&nbsp;any other resources that any member of the Proxy Group deems
appropriate to aid in a determination of a recommendation.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Proxy Group recommends that a Fund vote in accordance with the
Procedures and Guidelines, or the recommendation of the Agent, where
applicable, it shall instruct the Proxy Coordinator to so advise the Agent.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Proxy Group recommends that a Fund vote contrary to the
Procedures and Guidelines, or the recommendation of the Agent, where
applicable, or if the Agent&#146;s
recommendation on a matter requiring case-by-case consideration is deemed to be
conflicted, it shall follow the procedures for such voting as
established by a Fund&#146;s Board.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Proxy Coordinator shall use best efforts to convene the Proxy Group with respect to all matters requiring its
consideration.&#160; In the event quorum
requirements cannot be timely met in connection with to a voting deadline, the
Proxy Coordinator shall follow the procedures for such voting as established by
a Fund&#146;s Board.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Investment Professionals</font></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Funds&#146; Advisers, sub-advisers and/or portfolio
managers (each referred to herein as an &#147;Investment Professional&#148; and
collectively, &#147;Investment Professionals&#148;) may submit, or be asked to submit, a
recommendation to the Proxy Group regarding the voting of proxies related to
the portfolio securities over which they have day-to-day portfolio management
responsibility.&#160; The Investment
Professionals may accompany their recommendation with any other research
materials that they deem appropriate or with a request that </font><font size="2" style="font-size:10.0pt;">the vote be
deemed &#147;material&#148; in the context of the portfolio(s)&nbsp;they manage, such
that </font><font size="2" style="font-size:10.0pt;">lending activity
on behalf of such portfolio(s)&nbsp;with respect to the relevant security
should be reviewed by the Proxy Group and considered for recall and/or
restriction.&#160; </font><font size="2" style="font-size:10.0pt;">Input
from the relevant sub-advisers and/or portfolio managers shall be given primary
consideration</font><font size="2" style="font-size:10.0pt;"> in the Proxy Group&#146;s determination of whether a
given proxy vote is to be deemed
material and the associated security accordingly restricted from lending.&#160; The determination that a vote is material in
the context of a Fund&#146;s portfolio shall not mean that such vote is considered
material across all Funds voting that meeting.&#160;
In order to recall or restrict shares timely for material voting
purposes, t</font><font size="2" style="font-size:10.0pt;">he
Proxy Group shall use </font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-11</font></p>

<div style="line-height:normal;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-11',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">best efforts to consider, and when deemed appropriate,
to act upon, such requests timely, and </font><font size="2" style="font-size:10.0pt;">requests
to review lending activity in connection with a potentially material vote may
be initiated by any relevant Investment Professional and submitted for the
Proxy Group&#146;s consideration at any time.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">III.</font></b><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">VOTING PROCEDURES</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt 1.0in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">A.</font></b><font size="1" style="font-size:8.5pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;font-weight:normal;">In all cases, the
Adviser shall follow the voting procedures as set forth in the Procedures and
Guidelines of the Fund on whose behalf the Adviser is exercising delegated
authority to vote.</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt 1.0in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<h5 style="font-weight:normal;line-height:normal;margin:0in 0in .0001pt 1.0in;page-break-after:avoid;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Routine Matters</font></h5>

<h5 style="font-weight:normal;line-height:normal;margin:0in 0in .0001pt 1.0in;page-break-after:avoid;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h5>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Agent shall be instructed to submit a vote in accordance with the
Guidelines where such Guidelines provide a clear &#147;For&#148;, &#147;Against,&#148; &#147;Withhold&#148;
or &#147;Abstain&#148; on a proposal.&#160; However, the
Agent shall be directed to refer any proxy proposal to the Proxy Coordinator
for instructions as if it were a matter requiring case-by-case consideration
under circumstances where the application of the Guidelines is unclear, it
appears to involve unusual or controversial issues, or an Investment
Professional recommends a vote contrary to the Guidelines.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;text-indent:-31.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Matters Requiring Case-by-Case
Consideration</font></p>

<p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Agent shall be directed to refer proxy proposals accompanied by its
written analysis and voting recommendation to the Proxy Coordinator where the
Guidelines have noted &#147;case-by-case&#148; consideration.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Upon receipt of a referral from the Agent, the Proxy
Coordinator may solicit additional research from the Agent, Investment
Professional(s), as well as from any other source or service.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except in cases in which the Proxy Group has
previously provided the Proxy Coordinator with standing instructions to vote in
accordance with the Agent&#146;s recommendation, the Proxy Coordinator will forward
the Agent&#146;s analysis and recommendation and/or any research obtained from the
Investment Professional(s), the Agent or any other source to the Proxy
Group.&#160; The Proxy Group may consult with
the Agent and/or Investment Professional(s), as it deems necessary.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Within-Guidelines Votes:</font></b><font size="2" style="font-size:10.0pt;">&#160;
Votes in Accordance with a Fund&#146;s Guidelines and/or, where applicable,
Agent Recommendation</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the event the Proxy
Group, and where applicable, any Investment Professional participating in the
voting process, recommend a vote Within Guidelines, the Proxy Group will
instruct the Agent, through the Proxy Coordinator, to vote in </font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-12</font></p>

<div style="line-height:normal;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-12',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">this manner.&#160; Except as provided for herein, no Conflicts
Report (as such term is defined herein) is required in connection with
Within-Guidelines Votes.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Non-Votes:</font></b><font size="2" style="font-size:10.0pt;">&#160;
Votes in Which No Action is Taken</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Proxy Group may recommend that a Fund refrain from
voting under circumstances including, but not limited to, the following:&#160; (1)&nbsp;if the economic effect on shareholders&#146;
interests or the value of the portfolio holding is indeterminable or
insignificant, <i>e.g.</i>, proxies in
connection with fractional shares, securities no longer held in the portfolio
of an ING Fund or proxies being considered on behalf of a Fund that is no
longer in existence; or (2)&nbsp;if the cost of voting a proxy outweighs the
benefits, <i>e.g.</i>, certain international proxies,
particularly in cases in which share blocking practices may impose trading
restrictions on the relevant portfolio security.&#160; In such instances, the Proxy Group may
instruct the Agent, through the Proxy Coordinator, not to vote such proxy.&#160; The Proxy Group may provide the Proxy
Coordinator with standing instructions on parameters that would dictate a
Non-Vote without the Proxy Group&#146;s review of a specific proxy.&#160; It is noted a Non-Vote determination would
generally not be made in connection with voting rights received pursuant to
class action participation; while a Fund may no longer hold the security, a
continuing economic effect on shareholders&#146; interests is likely.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reasonable efforts shall be made to secure and vote
all other proxies for the Funds, but, particularly in markets in which
shareholders&#146; rights are limited, Non-Votes may also occur in connection with a
Fund&#146;s related inability to timely access ballots or other proxy information in
connection with its portfolio securities.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-Votes may also result in certain cases in which
the Agent&#146;s recommendation has been deemed to be conflicted, as provided for in
the Funds&#146; Procedures.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Out-of-Guidelines Votes:</font></b><font size="2" style="font-size:10.0pt;">&#160;
Votes Contrary to Procedures and Guidelines, or Agent Recommendation,
where applicable, Where No Recommendation is Provided by Agent, or Where Agent&#146;s Recommendation is Conflicted</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Proxy Group recommends that a Fund vote
contrary to the Procedures and Guidelines, or the recommendation of the Agent,
where applicable, if the Agent has made no recommendation on a matter requiring
case-by-case consideration and the Procedures and Guidelines are silent, or the Agent&#146;s recommendation on a matter
requiring case-by-case consideration is
deemed to be conflicted as provided for under these Adviser Procedures,
the Proxy Coordinator will then implement the procedures for handling such
votes as adopted by the Fund&#146;s Board.</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-13</font></p>

<div style="line-height:normal;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-13',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Proxy Coordinator will maintain a
record of all proxy questions that have been referred to a Fund&#146;s Compliance
Committee, all applicable recommendations, analysis, research and Conflicts
Reports.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">IV.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">ASSESSMENT </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">OF THE AGENT AND CONFLICTS OF
INTEREST</font></b></p>

<p style="line-height:normal;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In furtherance of the Advisers&#146; fiduciary duty to the
Funds and their beneficial owners, the Advisers shall establish the following:</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">A.</font><font size="1" style="font-size:8.5pt;letter-spacing:0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Assessment<b>  </b></font><font size="2" style="font-size:10.0pt;letter-spacing:0pt;">of the Agent</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">The Advisers shall establish that the Agent (1)&nbsp;is
independent from the Advisers, (2)&nbsp;</font><font size="2" style="font-size:10.0pt;">has resources that indicate it </font><font size="2" style="font-size:10.0pt;letter-spacing:0pt;">can competently
provide analysis of proxy issues and (3)&nbsp;can make recommendations in an
impartial manner and in the best interests of the Funds and their beneficial
owners.&#160; The Advisers shall utilize, and
the Agent shall comply with, such methods for establishing the foregoing as the
Advisers may deem reasonably appropriate and shall do not less than annually as
well as prior to engaging the services of any new proxy service.&#160; The Agent shall also notify the Advisers in
writing within fifteen (15) calendar days of any material change to information
previously provided to an Adviser in connection with establishing the Agent&#146;s
independence, competence or impartiality.</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Information provided in connection with assessment of the Agent shall
be forwarded to a member of the mutual funds practice group of ING US Legal
Services (&#147;Counsel&#148;) for review.&#160; Counsel
shall review such information and advise the Proxy Coordinator as to whether a
material concern exists and if so, determine the most appropriate course of
action to eliminate such concern.</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">B.</font><font size="1" style="font-size:8.5pt;letter-spacing:0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;letter-spacing:0pt;">Conflicts of Interest</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">The Advisers shall establish and maintain procedures
to identify and address conflicts that may arise from time to time concerning
the Agent.&#160; Upon the Advisers&#146; request,
which shall be not less than annually, and within fifteen (15) calendar days of
any material change to such information previously provided to an Adviser, the
Agent shall provide the Advisers with such information as the Advisers deem
reasonable and appropriate for use in determining material relationships of the
Agent that may pose a conflict of interest with respect to the Agent&#146;s proxy
analysis or recommendations.&#160; </font><font size="2" style="font-size:10.0pt;">The Proxy Coordinator shall forward all such
information to Counsel for review.&#160;
Counsel shall review such information and provide the Proxy Coordinator
with a brief statement regarding whether or not a material conflict of interest
is present.&#160; Matters as to which a
material conflict of interest is deemed to be present shall be handled as
provided in the Fund&#146;s Procedures and Guidelines.</font></p>

<p align="center" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-14</font></p>

<div align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-14',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">In connection with their participation in the voting
process for portfolio securities, each member of the Proxy Group, and each
Investment Professional participating in the voting process, must act solely in
the best interests of the beneficial owners of the applicable Fund.&#160; The members of the Proxy Group may not subordinate
the interests of the Fund&#146;s beneficial owners to unrelated objectives,
including taking steps to reasonably insulate the voting process from any
conflict of interest that may exist in connection with the Agent&#146;s services or
utilization thereof.</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For all matters for which the Proxy Group recommends
an Out-of-Guidelines Vote, or for which a </font><font size="2" style="font-size:10.0pt;">recommendation contrary to
that of the Agent or the Guidelines has been received from an Investment
Professional and is to be utilized, the Proxy Coordinator will</font><font size="2" style="font-size:10.0pt;"> implement the procedures for handling
such votes as adopted by the Fund&#146;s Board, including completion of such
Conflicts Reports as may be required under the Fund&#146;s Procedures.&#160; Completed Conflicts Reports shall be provided
to the Proxy Coordinator within two (2)&nbsp;business days.&#160; Such Conflicts Report should describe any
known conflicts of either a business or personal nature, and set forth any
contacts with respect to the referral item with non-investment personnel in its
organization or with outside parties (except for routine communications from proxy
solicitors).&#160; The Conflicts Report should
also include written confirmation that any recommendation from an Investment
Professional provided in connection with an Out-of-Guidelines Vote or under
circumstances where a conflict of interest exists was made solely on the
investment merits and without regard to any other consideration.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Proxy Coordinator shall forward all Conflicts
Reports to Counsel for review.&#160; Counsel
shall review each report and provide the Proxy Coordinator with a brief
statement regarding whether or not a material conflict of interest is
present.&#160; Matters as to which a material
conflict of interest is deemed to be present shall be handled as provided in
the Fund&#146;s Procedures and Guidelines.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">V.</font></b><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">REPORTING AND RECORD RETENTION</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Adviser shall
maintain the records required by Rule&nbsp;204-2(c)(2), as may be amended from
time to time, including the following: (1)&nbsp;A copy of each proxy statement
received regarding a Fund&#146;s portfolio securities.&#160; Such proxy statements received from issuers
are available either in the SEC&#146;s EDGAR database or are kept by the Agent and
are available upon request. (2)&nbsp;A record of each vote cast on behalf of a
Fund. (3)&nbsp;A copy of any document created by the Adviser that was material
to making a decision how to vote a proxy, or that memorializes the basis for
that decision. (4)&nbsp;A copy of written requests for Fund proxy voting
information and any written response thereto or to any oral request for
information on how the Adviser voted proxies on behalf of a Fund.&#160; All proxy voting materials and supporting
documentation will be retained for a minimum of six (6)&nbsp;years.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-15</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-15',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">APPENDIX 1</font></b></h2>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">to the</font></b></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Advisers&#146;
Proxy Voting Procedures</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Proxy
Group for registered investment company clients of ING Investments, LLC, ING
Investment Management Co. and Directed Services, LLC:</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="20%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Name</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="77%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:77.62%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Title or Affiliation</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stanley D. Vyner</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Investment
  Risk Officer and Executive Vice President, ING Investments, LLC</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Todd Modic</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior
  Vice President, ING Funds Services, LLC and ING Investments, LLC; and Chief
  Financial Officer of the ING Funds</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maria Anderson</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President
  of Fund Compliance, ING Funds Services, LLC</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Karla J. Bos</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proxy
  Coordinator for the ING Funds and Assistant Vice President &#150; Special
  Projects, ING Funds Services, LLC</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Julius A.
  Drelick III, CFA</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President, Platform Product Management and Project Management,
  ING Funds Services, LLC</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Harley Eisner</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President of Financial Analysis, ING Funds Services, LLC</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" style="padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="20%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:20.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Theresa K.
  Kelety,&nbsp;Esq.</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Counsel, ING
  Americas US Legal Services</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effective as of January&nbsp;1, 2008</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-16</font></p>

<div style="line-height:normal;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-16',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-03.htm',USER='105348',CD='Apr 11 12:08 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT 3</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">to the</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Funds</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proxy Voting Procedures</font></b></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<div style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="center">

</font></b></div>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PROXY VOTING GUIDELINES OF THE ING FUNDS</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h4 style="font-weight:bold;margin:0in 0in .0001pt 1.15pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">I.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; INTRODUCTION</font></b></h4>

<h4 style="font-weight:bold;margin:0in 0in .0001pt 1.15pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h4>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following is a
statement of the Proxy Voting Guidelines (&#147;Guidelines&#148;) that have been adopted
by the respective Boards of Directors or Trustees of each Fund.&#160; Unless otherwise provided for herein, any
defined term used herein shall have the meaning assigned to it in the Funds&#146;
and Advisers&#146; Proxy Voting Procedures (the &#147;Procedures&#148;).</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proxies must be voted in
the best interest of the Fund(s).&#160; The
Guidelines summarize the Funds&#146; positions on various issues of concern to
investors, and give a general indication of how Fund portfolio securities will
be voted on proposals dealing with particular issues.&#160; The Guidelines are not exhaustive and do not
include all potential voting issues.</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Advisers, in
exercising their delegated authority, will abide by the Guidelines as outlined
below with regard to the voting of proxies except as otherwise provided in the
Procedures.&#160; In voting proxies, the
Advisers are guided by general fiduciary principles.&#160; Each must act prudently, solely in the
interest of the beneficial owners of the Funds it manages.&#160; The Advisers will not subordinate the
interest of beneficial owners to unrelated objectives.&#160; Each Adviser will vote proxies in the manner
that it believes will do the most to maximize shareholder value.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt 50.75pt;page-break-after:avoid;text-indent:-50.75pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">II.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">GUIDELINES</font></p>

<p style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt 50.75pt;page-break-after:avoid;text-indent:-50.75pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following Guidelines are grouped according to
the types of proposals generally presented to shareholders of U.S.
issuers:&#160; Board of Directors, Proxy
Contests, Auditors, Proxy Contest Defenses, Tender Offer Defenses,
Miscellaneous, Capital Structure, Executive and Director Compensation, State of
Incorporation, Mergers and Corporate Restructurings, Mutual Fund Proxies, and
Social and Environmental Issues.&#160; A</font><font size="2" style="font-size:10.0pt;">n additional section addresses proposals most frequently found in global proxies.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">General Policies</font></u></b></h2>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These Guidelines apply to securities of
publicly traded companies and to those of privately held companies if publicly
available disclosure permits such application.&#160;
All matters for which such disclosure is not available shall be
considered CASE-BY-CASE.</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="line-height:normal;margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It shall generally be the policy of the Funds to take no action on a
proxy for which no Fund holds a position or otherwise maintains an economic
interest in the relevant security at the time the vote is to be cast.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In all cases receiving CASE-BY-CASE
consideration, including cases not specifically provided for under these
Guidelines, unless otherwise provided for under these Guidelines, it shall
generally be the policy of the Funds to vote in accordance with the
recommendation provided by the Funds&#146; Agent, Institutional Shareholder Services,&nbsp;Inc.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise provided for herein, it shall
generally be the policy of the Funds to vote in accordance with the Agent&#146;s
recommendation in cases in which such recommendation aligns with </font><font size="2" style="font-size:10.0pt;">the recommendation of the relevant issuer&#146;s
management or management has made no recommendation.&#160; However, this policy shall not apply to CASE-BY-CASE
proposals for which a contrary recommendation from the Investment Professional for the relevant Fund has been received and is
to be utilized, provided that incorporation of any such recommendation shall be
subject to the conflict of interest review process required under the Procedures.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recommendations from the Investment
Professionals, while not required under the Procedures, are likely to be
considered with respect to proxies for private equity securities and/or
proposals related to merger transactions/corporate restructurings, proxy
contests, or unusual or controversial issues.&#160;
Such input shall be given primary consideration with respect to </font><font size="2" style="font-size:10.0pt;">CASE-BY-CASE proposals being considered on behalf of the relevant Fund.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as otherwise provided for herein, it shall generally be the policy of the Funds not to support
proposals that would impose a negative impact on existing rights of the Funds
to the extent that any positive impact would not be deemed sufficient to
outweigh removal or diminution of such rights.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing policies may be overridden in any
case as provided for in the Procedures.&#160;
Similarly, the Procedures provide that p</font><font size="2" style="font-size:10.0pt;">roposals whose Guidelines prescribe a firm voting
position may instead be considered on a CASE-BY-CASE basis in cases in which unusual
or controversial circumstances
so dictate.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interpretation and application of these Guidelines is not intended to
supersede any law, regulation, binding agreement or other legal requirement to
which an issuer may be or become subject.&#160;
No proposal shall be supported whose implementation would contravene
such requirements.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>The
Board of Directors</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Voting on Director Nominees in Uncontested Elections</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise provided for herein, the Agent&#146;s
standards with respect to determining director independence shall apply.&#160; These standards generally provide that, to be
considered completely </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-18</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-18',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">independent, a director shall have no material
connection to the company other than the board seat.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement with the Agent&#146;s independence standards
shall not dictate that a Fund&#146;s vote shall be cast according to the Agent&#146;s
corresponding recommendation.&#160; Votes on
director nominees not subject to specific policies described herein should be
made on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where applicable and except as otherwise provided for
herein, it shall be the policy of the Funds to lodge disagreement with an
issuer&#146;s policies or practices by withholding support from a proposal for the
relevant policy or practice rather than the director nominee(s)&nbsp;to which
the Agent assigns a correlation.&#160; Support
shall be withheld from culpable nominees as appropriate, but if they are not
standing for election (<i>e.g.</i>, the board
is classified), support shall generally not be withheld from others in their
stead.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If application of the policies described herein would
result in withholding votes from the majority of independent outside directors
sitting on a board, or removal of such directors is likely to negatively impact
majority board independence, primary consideration shall be given to retention
of such independent outside director nominees unless the concerns identified
are of such grave nature as to merit removal of the independent directors.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where applicable and except as otherwise provided for
herein, generally DO NOT WITHHOLD support (or DO NOT VOTE AGAINST, pursuant to
the applicable election standard) in connection with issues raised by the Agent
if the nominee </font><font size="2" style="font-size:10.0pt;">did not </font><font size="2" style="font-size:10.0pt;">serve on the </font><font size="2" style="font-size:10.0pt;">board or
relevant </font><font size="2" style="font-size:10.0pt;">committee
during the majority of the time period relevant to the concerns cited by the
Agent.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WITHHOLD
support from a nominee who, d</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">uring
both of the most recent two years, attended less than 75 percent of the board
and committee meetings without a valid reason for the absences.&#160; DO NOT </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">WITHHOLD
support in connection with attendance issues for nominees who have served on
the board for less than the two most recent years.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WITHHOLD
support from a nominee in connection with poison pill or </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">anti-takeover </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">considerations
(<i>e.g.</i>, furtherance of measures
serving to disenfranchise shareholders or failure to remove restrictive pill
features or ensure pill expiration or submission to shareholders for vote) in
cases for which culpability for implementation or renewal of the pill in such
form can be specifically attributed to the nominee.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Provided
that a nominee served on the board during the relevant time period, WITHHOLD
support from a nominee who has </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">failed
to implement a shareholder proposal that was approved by (1)&nbsp;a majority of
the issuer&#146;s shares outstanding (most recent annual meeting) or (2)&nbsp;a
majority of the votes cast for two consecutive years.&#160; However, in the case of shareholder proposals
seeking shareholder ratification of a poison pill, </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">generally
DO NOT WITHHOLD support from a nominee </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">in such cases if the company has already </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">implemented
a policy that should reasonably prevent abusive use of the pill.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-19</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-19',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If a nominee has not acted upon negative votes
(WITHHOLD or AGAINST, as applicable based on the issuer&#146;s election standard)
representing a majority of the votes cast at the previous annual meeting,
consider such nominee on a CASE-BY-CASE basis.&#160;
Generally, vote FOR nominees when (1)&nbsp;the </font><font size="2" style="font-size:10.0pt;">issue
relevant to the majority </font><font size="2" style="font-size:10.0pt;">negative vote has been
adequately addressed or cured or (2)&nbsp;</font><font size="2" style="font-size:10.0pt;">the Funds&#146;
Guidelines or voting record do not support the relevant issue.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WITHHOLD
support from inside directors or affiliated outside directors who sit on the
audit committee.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DO
NOT WITHHOLD support from inside directors or affiliated outside directors who
sit on the nominating or compensation committee, provided that such committee
meets the applicable independence requirements of the relevant listing
exchange.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DO
NOT WITHHOLD support from inside directors or affiliated outside directors if </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">the full board serves as the compensation
or nominating committee OR has not created one or both committees</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">,
provided that </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">the
issuer is in compliance with all provisions of the listing exchange in
connection with performance of relevant functions (<i>e.g.</i>, performance of relevant functions by a majority of
independent directors in lieu of the formation of a separate committee).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Compensation
Practices:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It shall generally be the policy of the Funds that
matters of compensation are best determined by an independent board and
compensation committee.&#160; Generally:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where applicable and except as otherwise provided
  for herein,</font><font size="2" style="font-size:10.0pt;"> DO NOT WITHHOLD support from
  nominees who did not </font><font size="2" style="font-size:10.0pt;">serve
  on the </font><font size="2" style="font-size:10.0pt;">compensation </font><font size="2" style="font-size:10.0pt;">committee, or board, as applicable based on the
  Agent&#146;s analysis, during the majority of the time period relevant to the
  concerns cited by the Agent.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In cases
  in which the Agent has identified a </font><font size="2" style="font-size:10.0pt;">&#147;pay for performance&#148; disconnect, or internal pay
  disparity, as such issues are defined by the Agent, DO NOT WITHHOLD support
  from director nominees.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the
  Agent recommends withholding support from nominees in connection with </font><font size="2" style="font-size:10.0pt;">executive compensation or perquisites
  related to retention or recruitment, including severance or termination
  arrangements, vote FOR such nominees if the issuer has provided adequate
  rationale and/or disclosure.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If </font><font size="2" style="font-size:10.0pt;">the Agent
  has raised issues of options backdating</font><font size="2" style="font-size:10.0pt;">, consider members of the </font><font size="2" style="font-size:10.0pt;">compensation
  </font><font size="2" style="font-size:10.0pt;">committee, or
  board, as applicable, as well as</font><font size="2" style="font-size:10.0pt;"> company
  executives nominated as directors, on a CASE-BY-CASE basis.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the
  Agent has raised other considerations regarding poor </font><font size="2" style="font-size:10.0pt;">compensation practices, consider
  nominees on a CASE-BY-CASE basis.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 45.0pt;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accounting
Practices:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR </font><font size="2" style="font-size:10.0pt;">independent
  outside director nominees serving on the audit committee.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where applicable and except as otherwise provided
  for herein,</font><font size="2" style="font-size:10.0pt;"> generally DO NOT WITHHOLD
  support from nominees serving on the audit committee who did not </font><font size="2" style="font-size:10.0pt;">serve </font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-20</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-20',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt 45.0pt;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">on that committee during the majority of the time
  period relevant to the concerns cited by the Agent.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If </font><font size="2" style="font-size:10.0pt;">the Agent
  has raised concerns regarding poor </font><font size="2" style="font-size:10.0pt;">accounting practices, consider </font><font size="2" style="font-size:10.0pt;">the
  company&#146;s CEO and CFO, if nominated as directors, and nominees serving on the
  audit committee on a CASE-BY-CASE basis.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If total non-audit fees exceed the total of audit
  fees, audit-related fees and tax compliance and preparation fees, the
  provisions under Section&nbsp;3., Auditor Ratification, shall apply.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 45.0pt;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Board Independence:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It shall generally be the policy of the Funds that a
board should be majority independent and therefore to consider inside director
or affiliated outside director nominees in cases in which the full board is </font><font size="2" style="font-size:10.0pt;">not
majority independent on a CASE-BY-CASE basis.&#160;
Generally:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WITHHOLD
  support from the fewest directors whose removal would achieve majority
  independence across the remaining board,</font><font size="2" style="font-size:10.0pt;">  </font><font size="2" style="font-size:10.0pt;">except that support may be
  withheld from additional nominees whose relative level of independence cannot
  be differentiated.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WITHHOLD
  support from all non-independent nominees, including the founder, chairman or
  CEO, if the number required to achieve majority independence is equal to or
  greater than the number of non-independent nominees.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as
  provided above, vote FOR non-independent nominees in the role of CEO, and
  when appropriate, founder or chairman, and determine support for other
  non-independent nominees based on the qualifications and contributions of the
  nominee as well as the Funds&#146; voting precedent for assessing relative
  independence to management, <i>e.g.</i>,
  insiders holding senior executive positions are deemed less independent than
  affiliated outsiders with a transactional or advisory relationship to the
  company, and affiliated outsiders with a material transactional or advisory
  relationship are deemed less independent than those with lesser
  relationships.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-voting
  directors (<i>e.g.</i>, director
  emeritus or advisory director) shall be excluded from calculations with
  respect to majority board independence.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.54%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.06%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" valign="top" style="padding:0in .7pt 0in .7pt;width:91.4%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">When
  conditions contributing to a lack of majority independence remain
  substantially similar to those in the previous year, it shall generally be
  the policy of the Funds to vote on nominees in a manner consistent with votes
  cast by the Fund(s)&nbsp;in the previous year.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally vote FOR </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">nominees</font><font size="2" face="Times New Roman" style="font-size:10.0pt;"> without regard to &#147;over-boarding&#148; issues
raised by the Agent unless other concerns requiring CASE-BY-CASE consideration
have been raised.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, when the Agent recommends withholding
support due to assessment that a nominee acted in bad faith or against
shareholder interests in connection with a major transaction, such as a merger
or acquisition, consider on a CASE-BY-CASE basis, factoring in the merits of
the nominee&#146;s performance and rationale and disclosure provided.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Performance Test for Directors</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consider nominees failing the Agent&#146;s
performance test, which includes market-based and operating performance measures,
on a CASE-BY-CASE basis.&#160; Input from the
Investment </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-21</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-21',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Professional(s)&nbsp;for a given Fund shall be
given primary consideration with respect to such proposals.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Proposals Regarding Board Composition or Board
Service</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, except as otherwise provided for herein,
vote AGAINST shareholder proposals to impose new board structures or policies,
including those requiring that the positions of chairman and CEO be held
separately, except support proposals in connection with a binding agreement or
other legal requirement to which an issuer has or reasonably may expect to
become subject, and consider such proposals on a CASE-BY-CASE basis if the
board is not majority independent or pervasive corporate governance concerns
have been identified.&#160; Generally, except as otherwise provided for
herein, vote FOR management proposals to adopt or amend board structures or
policies, except consider such proposals on a CASE-BY-CASE basis if the board
is not majority independent, pervasive corporate governance concerns have been
identified, or the proposal may result in a material reduction in shareholders&#146;
rights.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder proposals asking
that more than a simple majority of directors be independent.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder proposals asking
that board compensation and/or nominating committees be composed exclusively of
independent directors.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder proposals to limit
the number of public company boards on which a director may serve.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder proposals that
seek to redefine director independence or directors&#146; specific roles (<i>e.g.</i>, responsibilities of the lead
director).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder proposals
requesting creation of additional board committees or offices, except as
otherwise provided for herein.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR shareholder proposals that seek
creation of an audit, compensation or nominating committee of the board, unless
the committee in question is already in existence or the issuer has availed
itself of an applicable exemption of the listing exchange (<i>e.g.</i>, performance of relevant functions by
a majority of independent directors in lieu of the formation of a separate
committee).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder
proposals to limit the tenure of outside directors.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder proposals to
impose a mandatory retirement age for outside </font><font size="2" style="font-size:10.0pt;">directors unless the proposal seeks to relax existing
standards</font><font size="2" style="font-size:10.0pt;">, but
generally DO NOT VOTE AGAINST management proposals seeking to establish a
retirement age for directors.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock Ownership Requirements</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder proposals
requiring directors to own a minimum amount of company stock in order to
qualify as a director or to remain on the board.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director and Officer Indemnification and Liability
Protection</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proposals on director and officer indemnification and
liability protection should be evaluated on a CASE-BY-CASE basis, using
Delaware law as the standard.&#160; Vote AGAINST
proposals to limit or eliminate entirely directors&#146; and officers&#146; liability for
monetary damages for violating the duty of care.&#160; Vote AGAINST indemnification proposals that
would expand coverage beyond just legal expenses to acts, such as negligence,
that are more serious violations of fiduciary </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-22</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-22',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">obligation than mere carelessness.&#160; Vote FOR only those proposals providing such
expanded coverage in cases when a director&#146;s or officer&#146;s legal defense was
unsuccessful if:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 45.0pt;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The director was found to have acted in
good faith and in a manner that he reasonably believed was in the best
interests of the company, and</font></p>

<p style="margin:0in 0in .0001pt 45.0pt;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 45.0pt;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Only if the director&#146;s legal expenses
would be covered.</font></p>

<p style="margin:0in 0in .0001pt 45.0pt;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Proxy
Contests</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These proposals should generally be analyzed on a CASE-BY-CASE
basis.&#160; Input from the Investment Professional(s)&nbsp;for a given Fund shall be
given primary consideration with respect to proposals in connection with proxy
contests being considered on behalf of that Fund.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Voting for Director Nominees in Contested Elections</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Votes in a contested election of directors must be
evaluated on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Reimburse Proxy Solicitation Expenses</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Voting to reimburse proxy solicitation expenses should
be analyzed on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Auditors</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Ratifying Auditors</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, except in cases of poor accounting
practices or high non-audit fees, vote FOR management proposals to ratify
auditors.&#160; Consider management proposals
to ratify auditors on a CASE-BY-CASE basis if the Agent cites poor accounting
practices.&#160; If fees for non-audit
services exceed 50 percent of total auditor fees as described below, consider
on a CASE-BY-CASE basis, voting AGAINST management proposals to ratify auditors
only if concerns exist that remuneration for the non-audit work is so lucrative
as to taint the auditor&#146;s independence.&#160;
For purposes of this review, fees deemed to be reasonable, generally
non-recurring, exceptions to the non-audit fee category (<i>e.g.</i>,
those related to an IPO) shall be excluded.&#160;
If independence concerns exist or an issuer has a history of
questionable accounting practices, also vote FOR shareholder proposals asking
the issuer to present its auditor annually for ratification, but in other cases
generally vote AGAINST.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Auditor Independence</font></b></p>

<p align="left" style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Generally, consider shareholder
proposals asking companies to prohibit their auditors from engaging in
non-audit services (or capping the level of non-audit services) on a
CASE-BY-CASE basis.</font></b></p>

<p align="left" style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Audit Firm Rotation:</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder proposals asking
for mandatory audit firm rotation.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-23</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-23',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Proxy
Contest Defenses</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Board Structure: Staggered vs. Annual Elections</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals to classify the
board or otherwise restrict shareholders&#146; ability to vote upon directors.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals to repeal classified
boards and to elect all directors annually.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shareholder Ability to Remove Directors</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals that provide that
directors may be removed only for cause.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals to restore shareholder
ability to remove directors with or without cause.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals that provide that
only continuing directors may elect replacements to fill board vacancies.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals that permit shareholders
to elect directors to fill board vacancies.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cumulative Voting</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the company maintains a classified board of
directors, generally, vote AGAINST management proposals to eliminate cumulative
voting, except that such proposals may be supported irrespective of
classification in furtherance of an issuer&#146;s plan to adopt a majority voting
standard.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In cases in which the company maintains a classified
board of directors, generally vote FOR shareholder proposals to restore or
permit cumulative voting.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Time-Phased Voting</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals to implement, and
FOR proposals to eliminate, time-phased or other forms of voting that do not
promote a one share, one vote standard.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shareholder Ability to Call Special Meetings</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals to restrict or
prohibit shareholder ability to call special meetings.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals that remove restrictions
on the right of shareholders to act independently of management.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Shareholder Ability to Act by Written Consent</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals to restrict or
prohibit shareholder ability to take action by written consent.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals to allow or make easier
shareholder action by written consent.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shareholder Ability to Alter the Size of the Board</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals that seek to fix the
size of the board or designate a range for its size.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals that give management
the ability to alter the size of the board outside of a specified range without
shareholder approval.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-24</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-24',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Tender
Offer Defenses</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Poison Pills</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR shareholder proposals that ask a
company to submit its poison pill for shareholder ratification, or to redeem
its pill in lieu thereof, unless (1)&nbsp;s</font><font size="2" style="font-size:10.0pt;">hareholders have approved
adoption of the plan,</font><font size="2" style="font-size:10.0pt;">
(2)&nbsp;a policy has already been implemented by the company that should
reasonably prevent abusive use of the pill, or</font><font size="2" style="font-size:10.0pt;"> (3)&nbsp;the board had
determined that it was in the best interest of shareholders to adopt a pill
without delay, provided that such plan would be put to shareholder vote within
twelve months of adoption or expire, and if not approved by a majority of the
votes cast, would immediately terminate</font><font size="2" style="font-size:10.0pt;">.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis shareholder proposals
to redeem a company&#146;s poison pill.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis management proposals to
approve or ratify a poison pill or any plan that can reasonably be construed as
an anti-takeover measure, with
voting decisions generally based on the Agent&#146;s approach to evaluating such
proposals, considering factors such as rationale, trigger level and sunset
provisions.&#160; Votes will generally be cast in a manner that seeks to
preserve shareholder value and the right to consider a valid offer, voting
AGAINST management proposals in connection with poison pills or anti-takeover
activities that do not meet the Agent&#146;s standards.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Fair Price Provisions</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote proposals to adopt fair price provisions on a
CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST fair price provisions with
shareholder vote requirements greater than a majority of disinterested shares.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Greenmail</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals to adopt antigreenmail
charter or bylaw amendments or otherwise restrict a company&#146;s ability to make
greenmail payments.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis antigreenmail proposals
when they are bundled with other charter or bylaw amendments.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pale Greenmail</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis restructuring plans
that involve the payment of pale greenmail.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unequal Voting Rights</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST dual-class exchange offers.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST
dual-class recapitalizations.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Supermajority Shareholder Vote Requirement to Amend
the Charter or Bylaws</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST management proposals to
require a supermajority shareholder vote to approve charter and bylaw
amendments or other key proposals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR shareholder proposals to lower
supermajority shareholder vote requirements for charter and bylaw amendments,
unless the proposal also asks the issuer to mount a solicitation campaign or
similar form of comprehensive commitment to obtain passage of the proposal.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-25</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-25',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Supermajority Shareholder Vote Requirement to
Approve Mergers</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST management proposals to
require a supermajority shareholder vote to approve mergers and other
significant business combinations.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR shareholder proposals to lower
supermajority shareholder vote requirements for mergers and other significant
business combinations.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">White Squire Placements</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR shareholder proposals to require
approval of blank check preferred stock issues for other than general corporate
purposes.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Miscellaneous</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendments to Corporate Documents</font></b></h1>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except to align with
legislative or regulatory changes or when support is recommended by the Agent
or Investment Professional (including, for example, as a condition to a major
transaction such as a merger), generally, vote AGAINST proposals seeking to
remove shareholder approval requirements or otherwise remove or diminish
shareholder rights, <i>e.g.</i>, by (1)&nbsp;adding
restrictive provisions, (2)&nbsp;removing provisions or moving them to portions
of the charter not requiring shareholder approval, or (3)&nbsp;in corporate
structures such as holding companies, removing provisions in an active
subsidiary&#146;s charter that provide voting rights to parent company
shareholders.&#160; This policy would also
generally apply to proposals seeking approval of corporate agreements or
amendments to such agreements that the Agent recommends AGAINST because a
similar reduction in shareholder rights is requested.</font></p>

<p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST
proposals for charter amendments that may support board entrenchment or may be
used as an anti-takeover device, particularly if the proposal is bundled or the
board is classified.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals seeking charter or bylaw
amendments to remove anti-takeover provisions.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consider proposals seeking charter or bylaw amendments
not addressed under these Guidelines on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Confidential Voting</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR shareholder proposals that request
companies to adopt confidential voting, use independent tabulators, and use
independent inspectors of election as long as the proposals include clauses for
proxy contests as follows:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the case of a contested election, management should
be permitted to request that the dissident group honor its confidential voting
policy.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If the dissidents agree, the policy remains in place.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If the dissidents do not agree, the confidential voting
policy is waived.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR
management proposals to adopt confidential voting.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proxy Access</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consider on a CASE-BY-CASE basis shareholder proposals
seeking access to management&#146;s proxy material in order to nominate their own
candidates to the board.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-26</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-26',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-05.htm',USER='105348',CD='Apr 11 12:08 2008' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Majority Voting Standard</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Except as otherwise provided
for herein, it shall generally be the policy of the Funds to extend discretion
to issuers to determine when it may be appropriate to adopt a majority voting
standard</font>.&#160; Generally, vote FOR
management proposals, irrespective of whether the proposal contains a plurality
carve-out for contested elections, but AGAINST shareholder proposals unless
also supported by management, seeking election of directors by the affirmative
vote of the majority of votes cast in connection with a meeting of
shareholders, including amendments to corporate documents or other actions in
furtherance of such standard, and provided such standard when supported does
not conflict with state law in which the company is incorporated.&#160; For issuers with a history of board
malfeasance or pervasive corporate governance concerns, consider such proposals
on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bundled Proposals</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as otherwise provided for herein, review on a
CASE-BY-CASE basis bundled or &#147;conditioned&#148; proxy proposals, generally voting
AGAINST bundled proposals containing one or more items not supported under
these Guidelines if the Agent or an Investment Professional deems the negative
impact, on balance, to outweigh any positive impact.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shareholder Advisory Committees</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis proposals to establish
a shareholder advisory committee.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Reimburse Shareholder for Expenses Incurred</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Voting to reimburse expenses incurred in connection
with shareholder proposals should be analyzed on a CASE-BY-CASE basis, with
voting decisions determined based on the Agent&#146;s criteria, considering whether
the related proposal received the requisite support for approval and was
adopted for the benefit of the company and its shareholders.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other Business</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with
proxies of U.S. issuers, generally vote FOR management proposals for Other
Business, except in connection with a proxy contest in which a Fund is not
voting in support of management.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Quorum Requirements</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis proposals to lower
quorum requirements for shareholder meetings below a majority of the shares
outstanding.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Advance Notice for Shareholder Proposals</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Generally, vote FOR
management proposals related to advance notice period requirements, provided
that the period requested is in accordance with applicable law and </font>no
material governance concerns have been identified in connection with the
issuer.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Capital
Structure</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Analyze on a CASE-BY-CASE basis.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-27</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-27',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-07.htm',USER='105348',CD='Apr 11 12:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock Authorization</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review proposals to increase the number of shares of
common stock authorized for issue on a CASE-BY-CASE basis.&#160; Except where otherwise indicated, the Agent&#146;s
proprietary approach, utilizing quantitative criteria (<i>e.g.</i>, dilution, peer group comparison,
company performance and history) to determine appropriate thresholds and, for
requests marginally above such allowable threshold, a qualitative review (<i>e.g.</i>, rationale and prudent historical usage), will
generally be utilized in evaluating such proposals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Generally vote
FOR proposals to authorize capital increases within the Agent&#146;s allowable
thresholds or those in excess but meeting Agent&#146;s qualitative standards, but
consider on a CASE-BY-CASE basis those requests failing the Agent&#146;s review for
proposals in connection with which a contrary recommendation from the
Investment Professional(s)&nbsp;has been received and is to be utilized (<i>e.g., </i>in support of a merger or acquisition proposal).</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Generally vote
FOR proposals to authorize capital increases within the Agent&#146;s allowable
thresholds or those in excess but meeting Agent&#146;s qualitative standards, unless
the company states that the stock may be used as a takeover defense.&#160; In those cases, consider on a CASE-BY-CASE
basis if a contrary recommendation from the Investment Professional(s)&nbsp;has
been received and is to be utilized.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Generally vote
FOR proposals to authorize capital increases exceeding the Agent&#146;s thresholds
when a company&#146;s shares are in danger of being delisted or if a company&#146;s
ability to continue to operate as a going concern is uncertain.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Generally, vote
AGAINST proposals to increase the number of authorized shares of a class of
stock if the issuance which the increase is intended to service is not
supported under these Guidelines.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dual Class&nbsp;Capital Structures</font></b></h2>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals to increase the
number of authorized shares of the class of stock that has superior voting
rights in companies that have dual class </font>capital structures, but
consider CASE-BY-CASE if (1)&nbsp;bundled with favorable proposal(s), (2)&nbsp;approval
of such proposal(s)&nbsp;is a condition of such favorable proposal(s), or (3)&nbsp;part
of a recapitalization for which support is recommended by the Agent or an
Investment Professional.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST management proposals to create
or perpetuate dual class capital structures with unequal voting rights, and
vote FOR shareholder proposals to eliminate them, in cases in which the
relevant Fund owns the class with inferior voting rights, but generally vote
FOR management proposals and AGAINST shareholder proposals in cases in which
the relevant </font>Fund owns
the class with superior voting rights.&#160; Consider CASE-BY-CASE if bundled with
favorable proposal(s), (2)&nbsp;approval of such proposal(s)&nbsp;is a
condition of such favorable proposal(s), or (3)&nbsp;part of a recapitalization
for which support is recommended by the Agent or an Investment Professional.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Consider </font>management </font>proposals to eliminate dual class capital
structures CASE-BY-CASE, generally voting with the Agent&#146;s recommendation
unless a contrary recommendation has been received from the Investment Professional
for the relevant Fund and is to be utilized.</p>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-28</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-28',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-07.htm',USER='105348',CD='Apr 11 12:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock Distributions: Splits and Dividends</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR management proposals to increase
common share authorization for a stock split, provided that the increase in
authorized shares falls within the Agent&#146;s allowable thresholds, but consider
on a CASE-BY-CASE basis those proposals exceeding the Agent&#146;s threshold for
proposals in connection with which a contrary recommendation from the Investment
Professional(s)&nbsp;has been received and is to be utilized.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reverse Stock Splits</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consider on a CASE-BY-CASE basis management proposals
to implement a reverse stock split.&#160; In
the event the split constitutes a capital increase effectively exceeding the Agent&#146;s
allowable threshold because the request does not proportionately reduce the
number of shares authorized, vote FOR the split if the Agent otherwise supports
management&#146;s rationale.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Preferred Stock</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals authorizing the issuance
of preferred stock or creation of new classes of preferred stock with
unspecified voting, conversion, dividend distribution, and other rights (&#147;blank
check&#148; preferred stock), but vote FOR if the Agent or an Investment
Professional so recommends because the issuance is required to effect a merger
or acquisition proposal.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals to issue or create blank
check preferred stock in cases when the company expressly states that the stock
will not be used as a takeover defense.&#160;
Generally vote AGAINST in cases where the company expressly states that,
or fails to disclose whether, the stock may be used as a takeover defense, but
vote FOR if the Agent or an Investment Professional so recommends because the
issuance is required to effect a merger or acquisition proposal.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals to authorize or issue
preferred stock in cases where the company specifies the voting, dividend,
conversion, and other rights of such stock and the terms of the preferred stock
appear reasonable.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote CASE-BY-CASE on proposals to increase the number
of blank check preferred shares after analyzing the number of preferred shares
available for issue given a company&#146;s industry and performance in terms of
shareholder returns.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shareholder Proposals Regarding Blank Check Preferred
Stock</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR shareholder proposals to have
blank check preferred stock placements, other than those shares issued for the
purpose of raising capital or making acquisitions in the normal course of
business, submitted for shareholder ratification.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Adjustments to Par Value of Common Stock</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR management proposals to reduce the
par value of common stock.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preemptive Rights</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis shareholder proposals
that seek preemptive rights or management proposals that seek to eliminate
them.&#160; In evaluating proposals on
preemptive rights, consider the size of a company and the characteristics of
its shareholder base.</font></p>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-29</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-29',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-07.htm',USER='105348',CD='Apr 11 12:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Debt Restructurings</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis proposals to increase
common and/or preferred shares and to issue shares as part of a debt
restructuring plan.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Share Repurchase Programs</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR management proposals to institute
open-market share repurchase plans in which all shareholders may participate on
equal terms, but vote AGAINST plans with terms favoring selected, non-Fund
parties.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR management proposals to cancel
repurchased shares.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals for share repurchase
methods lacking adequate risk mitigation as assessed by the Agent.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tracking Stock</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Votes on the creation of tracking stock are determined
on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Executive
and Director Compensation</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as otherwise provided for herein, votes with
respect to compensation and employee benefit plans should be determined on a
CASE-BY-CASE basis, with voting decisions generally based on the Agent&#146;s
approach to evaluating such plans, which includes determination of costs and
comparison to an allowable cap.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Generally, vote
in accordance with the Agent&#146;s recommendations FOR equity-based plans with
costs within such cap and AGAINST those with costs in excess of it, except that
plans above the cap may be supported if so recommended by the Agent or Investment
Professional as a condition to a major transaction such as a merger.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Generally, vote
AGAINST plans if the Agent suggests cost or dilution assessment may not be
possible due to the method of disclosing shares allocated to the plan(s),
except that such concerns arising in connection with evergreen provisions shall
be considered CASE-BY-CASE.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Generally, vote
FOR plans with costs within the cap if the primary considerations raised by the
Agent pertain to matters that would not result in a negative vote under these
Guidelines on the relevant board or committee member(s), or equity compensation
burn rate or pay for performance as defined by Agent.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Generally, vote
AGAINST plans administered by potential grant recipients.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Generally, vote
AGAINST proposals to eliminate existing shareholder approval requirements for
plan changes assessed as material by the Agent, unless the company has provided
a reasonable rationale and/or adequate disclosure regarding the requested
changes.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Consider plans
CASE-BY-CASE if the Agent raises other considerations not otherwise provided
for herein.</p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Restricted Stock or Stock Option
Plans</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consider proposals for restricted stock or stock
option plans, or the issuance of shares in connection with such plans, on a
CASE-BY-CASE basis, considering factors such as level of disclosure and
adequacy of vesting or performance requirements.&#160; Plans that do not meet the </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-30</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-30',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-07.htm',USER='105348',CD='Apr 11 12:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agent&#146;s criteria in this regard may be supported, but
vote AGAINST if no disclosure is provided regarding either vesting or
performance requirements.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Management Proposals Seeking Approval to Reprice
Options</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis management proposals
seeking approval to reprice, replace or exchange options, considering factors
such as rationale, historic trading patterns, value-for-value exchange, vesting
periods and replacement option terms.&#160;
Generally, vote FOR proposals that meet the Agent&#146;s criteria for
acceptable repricing, replacement or exchange transactions, except that
considerations raised by the Agent regarding burn rate or executive
participation shall not be grounds for withholding support.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote AGAINST compensation plans that (1)&nbsp;permit
or may permit (<i>e.g.</i>, history of
repricing and no express prohibition against future repricing) repricing of
stock options, or any form or alternative to repricing, without shareholder
approval, (2)&nbsp;include provisions that permit repricing, replacement or
exchange transactions that do not meet the Agent&#146;s criteria (except regarding
burn rate or executive participation as noted above), or (3)&nbsp;give the
board sole discretion to approve option repricing, replacement or exchange
programs.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Director Compensation</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Votes on stock-based plans for directors are made on a
CASE-BY-CASE basis, with voting decisions generally based on the Agent&#146;s
quantitative approach described above as well as a review of qualitative
features of the plan in cases in which costs exceed the Agent&#146;s threshold.&#160; DO NOT VOTE AGAINST plans for which burn rate
is the sole consideration raised by the Agent.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employee Stock Purchase Plans</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Votes on employee stock purchase plans, and capital
issuances in support of such plans, should be made on a CASE-BY-CASE basis,
with voting decisions generally based on the Agent&#146;s approach to evaluating
such plans, except that negative recommendations by the Agent due to evergreen
provisions will be reviewed CASE-BY-CASE.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">OBRA-Related Compensation Proposals</font></b></h2>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Votes on plans intended
to qualify for favorable tax treatment under the provisions of Section&nbsp;162(m)&nbsp;of
OBRA should be evaluated irrespective of the Agent&#146;s assessment of board </font>independence, provided that the board meets
the independence requirements of the relevant listing exchange.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Amendments that Place a Cap on Annual Grants or
Amend Administrative Features</font></b></p>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR plans
that simply amend shareholder-approved plans to include administrative features
or place a cap on the annual grants any one participant may receive to comply
with the provisions of Section&nbsp;162(m)&nbsp;of OBRA.</font></p>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Amendments to Add Performance-Based Goals</font></b></p>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR
amendments to add performance goals to existing compensation plans to comply
with the provisions of Section&nbsp;162(m)&nbsp;of OBRA.</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-31</font></p>

<div style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-31',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-07.htm',USER='105348',CD='Apr 11 12:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Amendments to Increase Shares and Retain Tax
Deductions Under OBRA</font></b></p>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Votes on amendments to
existing plans to increase shares reserved and to qualify the plan for
favorable tax treatment under the provisions of Section&nbsp;162(m)&nbsp;should
be evaluated on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Approval of Cash or Cash-and-Stock Bonus Plans</font></b></p>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR cash
or cash-and-stock bonus plans to exempt the compensation from taxes under the
provisions of Section&nbsp;162(m)&nbsp;of OBRA, with primary consideration
given to management&#146;s assessment that such plan meets the requirements for
exemption of performance-based compensation.</font></p>

<p style="margin:0in 0in .0001pt .25in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Shareholder Proposals Regarding Executive and
Director Pay</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regarding the remuneration of individuals other than
senior executives and directors, generally, vote AGAINST shareholder proposals
that seek to expand or restrict disclosure or require shareholder approval
beyond regulatory requirements and market practice.&#160; Vote AGAINST shareholder proposals that seek
disclosure of executive or director compensation if providing it would be out
of step with market practice and potentially disruptive to the business.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless evidence exists of abuse in historical
compensation practices, and except as otherwise provided for herein, generally
vote AGAINST shareholder proposals that seek to impose new compensation
structures or policies, such as &#147;claw back&#148; recoupments<b>  </b>or
advisory votes.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Severance and Termination Payments</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR shareholder proposals to have
parachute arrangements submitted for shareholder ratification (with &#147;parachutes&#148;
defined as compensation arrangements related to termination that specify
change-in-control events) and provided that the proposal does not include
unduly restrictive or arbitrary provisions such as advance approval requirements.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally vote AGAINST shareholder proposals to submit
executive severance agreements for shareholder ratification, unless such
proposals specify change-in-control events, Supplemental Executive Retirement
Plans or deferred executive compensation plans, or ratification is required by
the listing exchange.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis all proposals to
approve, ratify or cancel executive severance or termination arrangements,
including those related to executive recruitment or retention, generally voting
FOR such compensation arrangements if the issuer has provided adequate
rationale and/or disclosure or support is recommended by the Agent or
Investment Professional (<i>e.g.</i>, as a
condition to a major transaction such as a merger).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Employee Stock Ownership Plans (ESOPs)</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals that request shareholder
approval in order to implement an ESOP or to increase authorized shares for
existing ESOPs, except in cases when the number of shares allocated to the ESOP
is &#147;excessive&#148; (<i>i.e.</i>, generally
greater than five percent of outstanding shares).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">401(k)&nbsp;Employee Benefit Plans</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals to implement a 401(k)&nbsp;savings
plan for employees.</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-32</font></p>

<div style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-32',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-07.htm',USER='105348',CD='Apr 11 12:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Holding Periods</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST proposals requiring mandatory
periods for officers and directors to hold company stock.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Advisory Votes on Executive
Compensation</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, management
proposals seeking ratification of the company&#146;s compensation program will be
voted FOR unless the program includes practices or features not supported under
these Guidelines and the proposal receives a negative recommendation from the
Agent.&#160; Unless otherwise provided for
herein, reports not receiving the Agent&#146;s support due to concerns regarding
severance/termination payments, incentive structures or vesting or performance
criteria not otherwise supported by these Guidelines will be considered on a
CASE-BY-CASE basis, generally voted FOR if the company has provided a
reasonable rationale and/or adequate disclosure regarding the matter(s)&nbsp;under
consideration.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font></b><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">State
of Incorporation</font></u></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Voting on State Takeover Statutes</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE basis proposals to opt in or
out of state takeover statutes (including control share acquisition statutes,
control share cash-out statutes, freezeout provisions, fair price provisions,
stakeholder laws, poison pill endorsements, severance pay and labor contract
provisions, antigreenmail provisions, and disgorgement provisions).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Voting on Reincorporation Proposals</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proposals to change a company&#146;s state of incorporation
should be examined on a CASE-BY-CASE basis, generally supporting management
proposals not assessed by the Agent as a potential takeover defense, but if so
assessed, weighing management&#146;s rationale for the change.&#160; Generally, vote FOR management
reincorporation proposals upon which another key proposal, such as a merger
transaction, is contingent if the other key proposal is also supported.&#160; Generally, vote AGAINST shareholder
reincorporation proposals not also supported by the company.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Mergers
and Corporate Restructurings</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Input from the Investment
Professional(s)&nbsp;for a given Fund shall be given primary consideration with
respect to proposals regarding business combinations, particularly those between
otherwise unaffiliated parties, or other corporate restructurings being
considered on behalf of that Fund.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR a proposal not typically supported
under these Guidelines if a key proposal, such as a merger transaction, is
contingent upon its support and a vote FOR is accordingly recommended by the
Agent or an Investment Professional.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Mergers and Acquisitions</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Votes on mergers and acquisitions should be considered
on a CASE-BY-CASE basis.</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-33</font></p>

<div style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-33',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-07.htm',USER='105348',CD='Apr 11 12:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Corporate Restructuring</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Votes on corporate restructuring proposals, including
demergers, minority squeezeouts, leveraged buyouts, spinoffs, liquidations,
dispositions, divestitures and asset sales, should be considered on a
CASE-BY-CASE basis, with voting decisions generally based on the Agent&#146;s
approach to evaluating such proposals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Adjournment</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals to adjourn a meeting to
provide additional time for vote solicitation when the primary proposal is also
voted FOR.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Appraisal Rights</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR proposals to restore, or provide
shareholders with, rights of appraisal.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Changing Corporate Name</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR changing the corporate name.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Mutual
Fund Proxies</u></font></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Election of Directors</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote the election of directors on a CASE-BY-CASE
basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Converting Closed-end Fund to Open-end Fund</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote conversion proposals on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Proxy Contests</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote proxy contests on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Investment Advisory Agreements</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote the investment advisory agreements on a
CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Approving New Classes or Series&nbsp;of Shares</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR the establishment of new classes
or series of shares.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Preferred Stock Proposals</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote the authorization for or increase in preferred
shares on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1940 Act Policies</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote these proposals on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Changing a Fundamental Restriction to a
Nonfundamental Restriction</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote these proposals on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Change Fundamental Investment Objective to
Nonfundamental</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, consider proposals to change a fund&#146;s
fundamental investment objective to nonfundamental on a CASE-BY-CASE basis.</font></p>

<p align="center" style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-34</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-34',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-07.htm',USER='105348',CD='Apr 11 12:09 2008' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Name Rule&nbsp;Proposals</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote these proposals on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Disposition of Assets/Termination/Liquidation</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote these proposals on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Changes to the Charter Document</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote changes to the charter document on a CASE-BY-CASE
basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Changing the Domicile of a Fund</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote reincorporations on
a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Change in Fund&#146;s Subclassification</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote these proposals on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Authorizing the Board to Hire and Terminate
Subadvisors Without Shareholder Approval</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR these proposals.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Distribution Agreements</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote these proposals on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Master-Feeder Structure</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR the establishment of a
master-feeder structure.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Mergers</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote merger proposals on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Establish Director Ownership Requirement</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST shareholder proposals<b>  </b>for the establishment of a director ownership requirement.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Reimburse Shareholder for Expenses Incurred</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Voting to reimburse proxy solicitation expenses should
be analyzed on a CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Terminate the Investment Advisor</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote to terminate the investment advisor on a
CASE-BY-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.</font></b><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Social
and Environmental Issues</font></u></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These issues cover a wide
range of topics.&#160; In general, unless
otherwise specified herein, vote CASE-BY-CASE.&#160;
While a wide variety of factors may go into each analysis, the overall
principle guiding all vote recommendations focuses on how or whether the
proposal will enhance the economic value of the company.&#160; Because a company&#146;s board is likely to have
access to relevant, non-public information regarding a company&#146;s business, such
proposals will generally </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-35</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-35',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">be voted in a manner
intended to give the board (rather than shareholders) latitude to set corporate
policy and oversee management.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Absent concurring support
from the issuer, compelling evidence of abuse, significant public controversy
or litigation, the issuer&#146;s significant history of relevant violations; or
activities not in step with market practice or regulatory requirements, or
unless provided for otherwise herein, generally vote AGAINST shareholder
proposals seeking to dictate corporate conduct, apply existing law, duplicate
policies already substantially in place and/or addressed by the issuer, or
release information that would not help a shareholder evaluate an investment in
the corporation as an economic matter.&#160;
Such proposals would generally include those seeking preparation of
reports and/or implementation or additional disclosure of corporate policies
related to issues such as consumer and public safety, environment and energy,
labor standards and human rights, military business and political concerns,
workplace diversity and non-discrimination, sustainability, social issues, vendor
activities, economic risk or matters of science and engineering.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-align:left;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Global Proxies</font></u></h2>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:avoid;text-align:left;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing Guidelines
provided in connection with proxies of U.S. issuers shall also be applied to
global proxies where applicable and not provided for otherwise herein.&#160; The following provide for differing
regulatory and legal requirements, market practices and political and economic
systems existing in various global markets.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise provided
for herein, it shall generally be the policy of the Funds to vote AGAINST
global proxy proposals in cases in which the Agent recommends voting AGAINST
such proposal because relevant disclosure by the issuer, or the time provided
for consideration of such disclosure, is inadequate.&#160; For purposes of these global Guidelines, &#147;AGAINST&#148;
shall mean withholding of support for a proposal, resulting in submission of a
vote of AGAINST or ABSTAIN, as appropriate for the given market and level of
concern raised by the Agent regarding the issue or lack of disclosure or time
provided.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with
practices described herein that are associated with a firm AGAINST vote, it
shall generally be the policy of the Funds to consider them on a CASE-BY-CASE
basis if the Agent recommends their support (1)&nbsp;as the issuer or market
transitions to better practices (<i>e.g.</i>,
having committed to new regulations or governance codes) or (2)&nbsp;as the
more favorable choice in cases in which shareholders must choose between
alternate proposals.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Routine Management Proposals</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR the
following and other similar routine management proposals:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the opening of the shareholder meeting</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">that the meeting has been convened under local
regulatory requirements</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the presence of quorum</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the agenda for the shareholder meeting</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the election of the chair of the meeting</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the appointment of shareholders to co-sign the minutes
of the meeting</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-36</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-36',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">regulatory filings (<i>e.g.</i>,
to effect approved share issuances)</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the designation of inspector or shareholder
representative(s)&nbsp;of minutes of meeting</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the designation of two shareholders to approve and
sign minutes of meeting</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the allowance of questions</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the publication of minutes</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the closing of the shareholder meeting</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Discharge of Management/Supervisory Board Members</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR
management proposals seeking the discharge of management and supervisory board
members, unless the Agent recommends AGAINST due to concern about the past
actions of the company&#146;s auditors or directors or legal action is being taken
against the board by other shareholders, including when the proposal is
bundled.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Director
Elections</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise provided for herein, the Agent&#146;s
standards with respect to determining director independence shall apply.&#160; These standards generally provide that, to be
considered completely independent, a director shall have no material connection
to the company other than the board seat.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement with the Agent&#146;s independence standards
shall not dictate that a Fund&#146;s vote shall be cast according to the Agent&#146;s
corresponding recommendation.&#160; Further,
unless otherwise provided for herein, the application of Guidelines in
connection with such standards shall apply only in cases in which the nominee&#146;s
level of independence can be ascertained based on available disclosure.&#160; These policies generally apply to director
nominees in uncontested elections; votes in contested elections, and votes on
director nominees not subject to policies described herein, should be made on a
CASE-BY-CASE basis, with primary
consideration in contested elections given to input from the Investment Professional(s)&nbsp;for a given Fund.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For
issuers domiciled in Canada, Finland, France, Ireland, the Netherlands, Sweden
or tax haven markets, generally vote AGAINST non-independent directors in cases
in which </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">the
full board serves as the audit committee, or the company does not have an audit
committee</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For
issuers in all markets, including those in tax haven markets and those in Japan
that have adopted </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">the
U.S.-style board-with-committees structure</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">,
vote AGAINST non-independent nominees to the audit committee, or, if the slate
of nominees is bundled, vote AGAINST the slate.&#160;
If the slate is bundled and audit committee membership is unclear or
proposed as a separate agenda item, vote FOR if the Agent otherwise recommends
support.&#160; For Canadian issuers, the Funds&#146;
U.S. Guidelines with respect to audit committees shall apply.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
tax haven markets, DO NOT VOTE AGAINST non-independent directors in cases in
which </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">the full board
serves as the compensation committee, or the company does not have a
compensation committee</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-37</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-37',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DO
NOT VOTE AGAINST non-independent directors who sit on the compensation or
nominating committees, provided that such committees meet the applicable
independence requirements of the relevant listing exchange.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In cases in which
committee membership is unclear, consider non-independent director nominees on
a CASE-BY-CASE basis if no other issues have been raised in connection with
his/her nomination.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Generally follow Agent&#146;s
recommendations to vote AGAINST individuals nominated as outside/non-executive
directors who do not meet the Agent&#146;s standard for independence, unless the
slate of nominees is bundled, in which case the proposal(s)&nbsp;to elect board
members shall be considered on a CASE-BY-CASE basis.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For
issuers in tax haven markets, generally withhold support (AGAINST or ABSTAIN,
as appropriate) from bundled slates of nominees if the board is non-majority
independent.&#160; For issuers in Canada and
other global markets, generally follow the Agent&#146;s standards for withholding
support from bundled slates or non-independent directors (typically excluding
the CEO), as applicable, if the board does not meet the Agent&#146;s independence
standards or the board&#146;s independence cannot be ascertained due to inadequate
disclosure.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Generally,
withhold support (AGAINST or ABSTAIN, as appropriate) from nominees or slates
of nominees presented in a manner not aligned with market practice and/or
legislation, including:</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Symbol" style="color:windowtext;font-size:10.0pt;">&#183;</font><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">bundled
slates of nominees (<i>e.g.</i>, France,
Hong Kong or Spain);</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Symbol" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Symbol" style="color:windowtext;font-size:10.0pt;">&#183;</font><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">simultaneous
reappointment of retiring directors (<i>e.g.</i>, South
Africa);</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Symbol" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Symbol" style="color:windowtext;font-size:10.0pt;">&#183;</font><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">in
markets with term lengths capped by legislation or market practice, nominees
whose terms exceed the caps or are not disclosed (except that bundled slates
with such lack of disclosure shall be considered </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">on a CASE-BY-CASE basis); or</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Symbol" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Symbol" style="color:windowtext;font-size:10.0pt;">&#183;</font><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">nominees
whose names are not disclosed in advance of the meeting (<i>e.g.</i>,
Austria, Philippines, Hong Kong or South Africa) or far enough in advance
relative to voting deadlines (<i>e.g.</i>, Italy) to
make an informed voting decision.</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Such
criteria will not generally provide grounds for withholding support in
countries in which they may be identified as best practice but such legislation
or market practice is not yet applicable, unless specific governance shortfalls
identified by the Agent dictate that less latitude should be extended to the
issuer.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally vote FOR </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">nominees</font><font size="2" face="Times New Roman" style="font-size:10.0pt;"> without regard to recommendations that
the position of chairman should be
separate from that of CEO or otherwise required to be independent,
unless other concerns requiring CASE-BY-CASE consideration have been raised.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">In
cases in which cumulative or net voting applies, generally vote with Agent&#146;s
recommendation to support nominees asserted by the issuer to be independent,
even if independence disclosure or criteria fall short of Agent&#146;s standards.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-38</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-38',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consider nominees for
whom the Agent has raised concerns regarding scandals or internal controls on a
CASE-BY-CASE basis, generally withholding support (AGAINST or ABSTAIN, as
appropriate) from nominees or slates of nominees when:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">the scandal or
shortfall in controls took place at the company, or an affiliate, for which the
nominee is being considered;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">culpability can
be attributed to the nominee (<i>e.g.</i>,
nominee manages or audits relevant function), and</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">the nominee has been
directly implicated, with resulting arrest and criminal charge or regulatory
sanction.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">For markets such as the tax havens,
Australia, Canada, Hong Kong, Japan, Malaysia, Singapore and South Africa (and
for outside directors in South Korea) in which nominees&#146; attendance records are
adequately disclosed, the Funds&#146; U.S. Guidelines with respect to director
attendance shall apply.&#160; The same policy
shall be applied regarding attendance by statutory auditors of Japanese
companies.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Consider
self-nominated director candidates on a
CASE-BY-CASE basis, with voting decisions generally based on the Agent&#146;s
approach to evaluating such candidates.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally vote FOR </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">nominees</font><font size="2" face="Times New Roman" style="font-size:10.0pt;"> without regard to &#147;over-boarding&#148; issues
raised by the Agent unless other concerns requiring CASE-BY-CASE consideration
have been raised.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">For companies incorporated in
tax haven markets but which trade exclusively in the U.S., the Funds&#146; U.S.
Guidelines with respect to director elections shall apply.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-weight:bold;">Board
Structure</font></b></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Generally, vote FOR proposals
to fix board size, but also support proposals seeking a board range if the
range is reasonable in the context of market practice and anti-takeover
considerations.&#160; Proposed article
amendments in this regard shall be considered on a CASE-BY-CASE basis, with
voting decisions generally based on the Agent&#146;s approach to evaluating such
proposals.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director and Officer Indemnification and Liability
Protection</font></b></h2>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Generally, vote in accordance with the Agent&#146;s standards for
indemnification and liability protection for officers and directors, voting
AGAINST overly broad provisions.</font></p>

<p style="color:black;margin:0in 0in .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Independent Statutory Auditors</font></b></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With respect to Japanese
companies that have not adopted the U.S.-style board-with-committees structure,
vote AGAINST any nominee to the position of &#147;independent statutory auditor&#148;
whom the Agent considers affiliated, <i>e.g.</i>,
if the nominee has worked a significant portion of his career for the company,
its main bank or one of its top shareholders.&#160;
Where shareholders are forced to vote on multiple nominees in a single
resolution, vote AGAINST all nominees.&#160;
In cases in which multiple slates of statutory auditors are presented, generally
vote with the Agent&#146;s recommendation, typically to support nominees deemed to
be more independent and/or aligned with interests of minority shareholders.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-39</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-39',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST
incumbent nominees at companies implicated in scandals or exhibiting poor
internal controls.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Key
Committees</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST
proposals that permit non-board members to serve on the audit, compensation or
nominating committee, provided that bundled slates may be supported if no slate
nominee serves on the relevant committee(s).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director and Statutory Auditor Remuneration</font></b></h2>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Consider
director compensation plans on a CASE-BY-CASE basis, with voting decisions
generally based on the Agent&#146;s approach to evaluating such proposals, while
also factoring in the merits of the rationale and disclosure provided.&#160; Generally, vote FOR proposals to approve the
remuneration of directors and auditors as long as the amount is not excessive (<i>e.g.</i>, significant increases should be supported by adequate
rationale and disclosure) and there is no evidence of abuse.&#160; For </font></b><font size="2" style="font-size:10.0pt;font-weight:normal;">Toronto Stock Exchange (TSX) </font><font size="2" style="font-size:10.0pt;font-weight:normal;">issuers, the Agent&#146;s limits with respect to equity awards to non-employee
directors shall apply.</font></h2>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bonus Payments</font></b></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With respect to Japanese
companies, generally vote FOR retirement bonus proposals if all payments are
for directors and auditors who have served as executives of the company.&#160; Generally vote AGAINST such proposals if one
or more payments are for non-executive, affiliated directors or statutory
auditors when one or more of the individuals to whom the grants are being
proposed (1)&nbsp;has not served in an executive capacity for the company for
at least three years or (2)&nbsp;has been designated by the company as an
independent statutory auditor, regardless of the length of time he/she has
served.&#160; In all markets, if issues have
been raised regarding a scandal or internal controls, generally vote AGAINST
bonus proposals for retiring directors or continuing directors or auditors when culpability can be attributed to the
nominee (<i>e.g.</i>, if a Fund is also voting </font><font size="2" style="font-size:10.0pt;">AGAINST the
nominee under criteria herein regarding issues of scandal or internal
controls), unless bundled with bonuses for a majority of </font><font size="2" style="font-size:10.0pt;">directors or auditors </font><font size="2" style="font-size:10.0pt;">a Fund is
voting FOR.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock Option Plans for Independent Internal
Statutory Auditors</font></b></h1>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With respect to Japanese
companies, follow the Agent&#146;s guidelines with respect to proposals regarding
option grants to independent internal statutory auditors, generally voting
AGAINST such plans.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Compensation Plans</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise provided
for herein, votes with respect to compensation plans, and awards thereunder or
capital issuances in support thereof, should be determined on a CASE-BY-CASE
basis, with voting decisions generally based on the Agent&#146;s approach to
evaluating such plans, considering quantitative or qualitative factors as
appropriate for the market.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Amendment
Procedures for Equity Compensation Plans and ESPPs</font></b></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For TSX issuers, votes
with respect to amendment procedures for security-based compensation
arrangements and employee share purchase plans shall generally be cast in a
manner designed to </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-40</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-40',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">preserve shareholder
approval rights, with voting decisions generally based on the Agent&#146;s recommendation.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shares Reserved for Equity Compensation Plans</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise provided
for herein, voting decisions shall generally be based on the Agent&#146;s
methodology, including classification of a company&#146;s stage of development as
growth or mature and the corresponding determination as to reasonability of the
share requests.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST
equity compensation plans (<i>e.g.</i>, option,
warrant, restricted stock or employee share purchase plans or participation in
company offerings such as IPOs or private placements), the issuance of shares
in connection with such plans, or related management proposals (<i>e.g.</i>, article amendments) that:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">exceed Agent&#146;s recommended dilution limits, including cases in which
the Agent suggests dilution cannot be fully assessed (<i>e.g.</i>,
due to inadequate disclosure);</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">provide deep or near-term discounts to executives or directors, unless </font><font size="2" style="font-size:10.0pt;">discounts to executives are deemed by the Agent to be adequately
mitigated by other requirements such as long-term vesting (<i>e.g.</i>, Japan) or broad-based employee
participation otherwise meeting Agent&#146;s standards (<i>e.g.</i>,
France);</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">are administered with discretion by potential grant recipients;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">provide for retirement benefits or equity incentive awards to outside
directors if not in line with market practice (<i>e.g.</i>,
Australia, Belgium, The Netherlands);</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">permit financial assistance in the form
of non-recourse (or essentially non-recourse) loans in connection with
executive&#146;s participation;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">for matching share plans, do not meet the
Agent&#146;s standards, considering holding period, discounts, dilution,
participation, purchase price and performance criteria;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">provide for vesting upon change in
control if deemed by the Agent to evidence a conflict of interest or
anti-takeover device;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">provide no disclosure regarding vesting
or performance criteria (provided that proposals providing disclosure in one or
both areas, without regard to Agent&#146;s criteria for such disclosure, shall be
supported provided they otherwise satisfy these Guidelines);</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">permit post-employment vesting if deemed inappropriate by the Agent;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">allow plan administrators to make
material amendments without shareholder approval unless adequate prior
disclosure has been provided, with such voting decisions generally based on the
Agent&#146;s approach to evaluating such plans; or</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">provide for retesting in connection with
achievement of performance hurdles unless the Agent&#146;s analysis indicates that (1)&nbsp;performance
targets are adequately increased in proportion to the additional time
available, (2)&nbsp;the retesting is <i>de
minimis</i> as a percentage of overall compensation or is acceptable
relative to market practice, or (3)&nbsp;the issuer has committed to cease
retesting within a reasonable period of time.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR such
plans/awards or the related issuance of shares that (1)&nbsp;do not suffer from
the defects noted above, or (2)&nbsp;otherwise meet the Agent&#146;s tests if the
considerations raised by the Agent pertain primarily to performance hurdles,
contract or notice periods, discretionary bonuses, recruitment awards,
retention incentives, non-compete payments or vesting upon change in control
(other than addressed above), if the company has provided adequate disclosure
and/or a reasonable rationale regarding the relevant plan/award, practice or
participation.&#160; Unless otherwise provided
for herein, market practice of the primary country in which a company does </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-41</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-41',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">business, or in which an
employee is serving, as applicable, shall supersede that of the issuer&#146;s
domicile.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consider
proposals in connection with such plans or the related issuance of shares in
other instances on a CASE-BY</font><font size="2" style="font-size:10.0pt;">-CASE basis.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Remuneration Reports</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, withhold
support (AGAINST or ABSTAIN as appropriate for specific market and level of
concerns identified by the Agent) from remuneration reports that include
compensation plans permitting:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">practices or features not supported under
these Guidelines, including financial assistance under the conditions described
above;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">retesting deemed by the Agent to be
excessive relative to market practice (irrespective of the Agent&#146;s support for
the report as a whole);</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">equity award valuation triggering a
negative recommendation from the Agent; or</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">provisions for retirement benefits or
equity incentive awards to outside directors if not in line with market
practice, except that reports will generally be voted FOR if contractual
components are reasonably aligned with market practices on a going-forward
basis (<i>e.g.</i>, existing obligations
related to retirement benefits or terms contrary to evolving standards would
not preclude support for the report).</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reports receiving the
Agent&#146;s support and not triggering the concerns cited above will generally be
voted FOR.&#160; Unless otherwise provided for
herein, reports not receiving the Agent&#146;s support due to concerns regarding
severance/termination payments, &#147;leaver&#148; status, incentive structures and
vesting or performance criteria not otherwise supported by these Guidelines
shall be considered on a CASE-BY-CASE basis, generally voted FOR if the company
has provided a reasonable rationale and/or adequate disclosure regarding the matter(s)&nbsp;under
consideration.&#160; Reports with typically
unsupported features may be voted FOR in cases in which the Agent recommends
their initial support as the issuer or market transitions to better practices (<i>e.g.</i>, having committed to new regulations
or governance codes).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shareholder Proposals Regarding Executive and
Director Pay</font></b></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Funds&#146; U.S.
Guidelines with respect to such shareholder proposals shall apply.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">General Share Issuances</font></b></h2>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise provided
for herein, voting decisions shall generally be based on the Agent&#146;s practice
to determine support for general issuance requests (with or without preemptive
rights), or related requests to repurchase and reissue shares, based on their
amount relative to currently issued capital as well as market-specific
considerations (<i>e.g.</i>, priority right protections
in France, reasonable levels of dilution and discount in Hong Kong).&#160; Requests to reissue repurchased shares will
not be supported unless a related general issuance request is also supported.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consider specific
issuance requests on a CASE-BY-CASE basis based on the proposed use and the
company&#146;s rationale.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST
proposals to issue shares (with or without preemptive rights), convertible
bonds or warrants, to grant rights to acquire shares, or to amend the corporate
charter </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-42</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-42',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">relative to such
issuances or grants in cases in which concerns have been identified by the
Agent with respect to inadequate disclosure, inadequate restrictions on
discounts, failure to meet the Agent&#146;s standards for general issuance requests,
or authority to refresh share issuance amounts without prior shareholder
approval.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Increases in Authorized Capital</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise provided for herein, voting
decisions should generally be based on the Agent&#146;s approach, as follows:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR nonspecific
proposals, including bundled proposals, to increase authorized capital up to
100 percent over the current authorization unless the increase would leave the
company with less than 30 percent of its new authorization outstanding.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote FOR specific proposals to increase
authorized capital, unless:</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">the specific purpose of the increase
(such as a share-based acquisition or merger) does not meet these Guidelines
for the purpose being proposed; or</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">the increase would leave the company with
less than 30 percent of its new authorization outstanding after adjusting for
all proposed issuances.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote AGAINST proposals to adopt unlimited
capital authorizations.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Agent&#146;s market-specific exceptions to
the above parameters (<i>e.g.</i>, The
Netherlands, due to hybrid market controls) shall be applied.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preferred Stock</font></b></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless otherwise provided for herein, voting
decisions should generally be based on the Agent&#146;s approach, including:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote FOR the creation of a new class of
preferred stock or issuances of preferred stock up to 50 percent of issued
capital unless the terms of the preferred stock would adversely affect the
rights of existing shareholders.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote FOR the creation/issuance of
convertible preferred stock as long as the maximum number of common shares that
could be issued upon conversion meets the Agent&#146;s guidelines on equity issuance
requests.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vote AGAINST the creation of (1)&nbsp;a
new class of preference shares that would carry superior voting rights to the
common shares or (2)&nbsp;blank check preferred stock unless the board states
that the authorization will not be used to thwart a takeover bid.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Poison
Pills/Protective Preference Shares</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST management proposals in connection with poison
pills or anti-takeover activities (<i>e.g.</i>,
disclosure requirements or issuances, transfers or repurchases) that do not
meet the Agent&#146;s standards.&#160; Generally
vote in accordance with Agent&#146;s recommendation to withhold support from a
nominee in connection with poison pill or anti-takeover considerations when
culpability for the actions can be specifically attributed to the nominee.&#160; Generally DO NOT VOTE AGAINST director
remuneration in connection with poison pill considerations raised by the Agent.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Approval of Financial Statements and Director and
Auditor Reports</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR<b>  </b>management
proposals seeking approval of financial accounts and reports, unless there is
concern about the company&#146;s financial accounts and reporting, which, in the
case </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-43</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-43',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of related party
transactions, would include concerns raised by the Agent regarding consulting
agreements with non-executive directors.&#160;
Unless otherwise provided for herein, reports not receiving the Agent&#146;s
support due to concerns regarding severance/termination payments not otherwise
supported by these Guidelines shall be considered on a CASE-BY-CASE basis,
factoring in the merits of the rationale and disclosure provided.&#160; Generally, vote AGAINST board-issued reports
receiving a negative recommendation from the Agent due to concerns regarding
independence of the board or the presence of non-independent directors on the
audit committee.&#160; However, generally do
not withhold support from such proposals in connection with remuneration
practices otherwise supported under these Guidelines or as a means of
expressing disapproval of broader practices of the issuer or its board.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Remuneration of Auditors</font></b></h2>

<p align="left" style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Generally, vote FOR proposals to authorize the board
to determine the remuneration of auditors, unless there is evidence of
excessive compensation relative to the size and nature of the company.</font></b></p>

<p align="left" style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indemnification of Auditors</font></b></h2>

<p align="left" style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Generally, vote AGAINST proposals to indemnify
auditors.</font></b></p>

<p align="left" style="font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Ratification of Auditors and Approval of Auditors&#146; Fees</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For Canadian issuers, the
Funds&#146; U.S. Guidelines with respect to auditors and auditor fees shall
apply.&#160; For other markets, generally, follow the Agent&#146;s standards for
proposals seeking auditor ratification or approval of auditors&#146; fees, which
indicate a vote FOR such proposals for companies in the MSCI EAFE index,
provided the level of audit fee disclosure meets the Agent&#146;s standards.&#160; In other cases, generally vote FOR such
proposals unless there are material concerns raised by the Agent about the
auditor&#146;s practices or independence.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Allocation of Income and Dividends</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR
management proposals concerning allocation of income and the distribution of
dividends, including adjustments to reserves to make capital available for such
purposes.&#160; In the event management offers
multiple dividend proposals on the same agenda, primary consideration shall be
given to input from the relevant Investment Professional(s).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stock (Scrip) Dividend Alternatives</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR most
stock (scrip) dividend proposals, but vote AGAINST proposals that do not allow
for a cash option unless management demonstrates that the cash option is
harmful to shareholder value.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Debt Instruments</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST
proposals authorizing excessive discretion, as assessed by the Agent, to a
board to issue or set terms for debt instruments (<i>e.g.</i>, commercial paper).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Debt Issuance Requests</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">When evaluating a debt
issuance request, the issuing company&#146;s present financial situation is
examined.&#160; The main factor for analysis
is the company&#146;s current debt-to-equity ratio, or gearing </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-44</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-44',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">level.&#160; A high gearing level may incline markets and
financial analysts to downgrade the company&#146;s bond rating, increasing its
investment risk factor in the process.&#160; A
gearing level up to 100 percent is considered acceptable.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR debt
issuances for companies when the gearing level is between zero and 100
percent.&#160; Review on a CASE-BY-CASE basis
proposals where the issuance of debt will result in the gearing level being greater
than 100 percent, or for which inadequate disclosure precludes calculation of
the gearing level, comparing any such proposed debt issuance to industry and
market standards, and with voting decisions generally based on the Agent&#146;s
approach to evaluating such requests.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Financing Plans</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR<b>  </b>the
adoption of financing plans if they are in the best economic interests of
shareholders.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Related Party Transactions</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consider related party transactions on a
CASE-BY-CASE basis.&#160; Generally, vote FOR
approval of such transactions unless the agreement requests a strategic move
outside the company&#146;s charter or contains unfavorable or high-risk terms (<i>e.g.</i>, deposits without security interest or guaranty).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Approval
of Donations</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote
AGAINST such proposals unless adequate, prior disclosure of amounts is
provided; if so, single- or multi-year authorities may be supported.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Capitalization of Reserves</font></b></h2>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote
FOR proposals to capitalize the company&#146;s reserves for bonus issues of shares
or to increase the par value of shares.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment of Company Reserves</font></b></h2>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These proposals should generally be analyzed on a CASE-BY-CASE
basis, with primary consideration given
to input from the Investment
Professional(s)&nbsp;for a given Fund.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Article&nbsp;Amendments</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Review on a CASE-BY-CASE
basis all proposals seeking amendments to the articles of association.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote FOR an
article amendment if:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">it is editorial in nature;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shareholder rights are protected;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">there is negligible or positive impact on shareholder
value;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">management provides adequate reasons for the
amendments or the Agent otherwise supports management&#146;s position;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">it seeks to discontinue and/or delist a form of the
issuer&#146;s securities in cases in which the relevant Fund does not hold the
affected security type; or</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-45</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-45',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the company is required to do so by law (if
applicable).</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally, vote AGAINST
an article amendment if:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">it removes or lowers quorum requirements for board or
shareholder meetings below levels recommended by the Agent;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">it reduces relevant disclosure to shareholders;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">it seeks to align the articles with provisions of
another proposal not supported by these Guidelines;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">it is not supported under these Guidelines, is
presented within a bundled proposal, and the Agent deems the negative impact,
on balance, to outweigh any positive impact; or</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">it imposes a negative impact on existing shareholder
rights, including rights of the Funds, to the extent that any positive impact
would not be deemed by the Agent to be sufficient to outweigh removal or
diminution of such rights.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With respect to article
amendments for Japanese companies:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Generally vote FOR management proposals to amend a
company&#146;s articles to expand its business lines.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Generally vote FOR management proposals to amend a
company&#146;s articles to provide for an expansion or reduction in the size of the
board, unless the expansion/reduction is clearly disproportionate to the
growth/decrease in the scale of the business<b>  </b>or
raises anti-takeover concerns.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If anti-takeover concerns exist, generally vote
AGAINST management proposals, including bundled proposals, to amend a company&#146;s
articles to authorize the Board to vary the annual meeting record date or to
otherwise align them with provisions of a takeover defense.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Generally follow the Agent&#146;s guidelines with respect
to management proposals regarding amendments to authorize share repurchases at
the board&#146;s discretion, voting AGAINST proposals unless there is little to no
likelihood of a &#147;creeping takeover&#148; (major shareholder owns nearly enough
shares to reach a critical control threshold) or constraints on liquidity (free
float of shares is low), and where the company is trading at below book value
or is facing a real likelihood of substantial share sales; or where this
amendment is bundled with other amendments which are clearly in shareholders&#146;
interest.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other Business</font></b></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with global proxies, vote in accordance with the Agent&#146;s
market-specific recommendations on management proposals for Other Business,
generally AGAINST.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-46</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-46',FILE='C:\JMS\kgiri\08-8256-2\task2856156\8256-2-be-09.htm',USER='105348',CD='Apr 11 12:10 2008' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PART&nbsp;C</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">OTHER INFORMATION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Prime Rate Trust</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(25,000,000 Common Shares)</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="12%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:12.76%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 24.</font></b></p>
  </td>
  <td width="87%" colspan="4" valign="bottom" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Financial Statements and
  Exhibits</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" colspan="4" valign="bottom" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Financial Statements</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contained in
  Part&nbsp;A:</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Financial Highlights
  for the years ended February&nbsp;29, 2008, February&nbsp;28, 2007, 2006 and
  2005, February&nbsp;29, 2004, February&nbsp;28, 2003, 2002 and 2001;
  February&nbsp;29, 2000; February&nbsp;28, 1999 and 1998.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Financial Statements
  are incorporated in Part&nbsp;B by reference to Registrant&#146;s
  February&nbsp;29, 2008 annual shareholder report (audited).</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibits</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:87.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement and
  Declaration of Trust, dated December&nbsp;2, 1987.(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment to the
  Agreement and Declaration of Trust dated March&nbsp;26, 1996 and effective April&nbsp;12,
  1996.(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment to the Agreement
  and Declaration of Trust dated October&nbsp;23, 1998 and effective November&nbsp;16,
  1998.(7)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment to the
  Agreement and Declaration of Trust dated October&nbsp;20, 2000 and effective October&nbsp;20,
  2000.(9)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment to the Agreement
  and Declaration of Trust dated February&nbsp;20, 2002 and effective March&nbsp;1,
  2002.(10)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By-Laws adopted at a
  meeting of the Board of Trustees on December&nbsp;2, 1987.(15)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment dated June&nbsp;18,
  1997 to By-Laws, amends paragraph 3.5 and 3.6 of Article&nbsp;3.(2)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment adopted on August&nbsp;2,
  1999 to By-Laws amends Section&nbsp;11.5 of Article&nbsp;11.(8)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment adopted on July&nbsp;26,
  2000 to By-Laws, amends Section&nbsp;11.1 and 11.3 of Article&nbsp;11.(9)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-ga.htm',USER='105432',CD='Jun 26 16:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment adopted on November&nbsp;10,
  2005 to By-Laws, amends Section&nbsp;11.5 of Article&nbsp;11.(15)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of
  Certificate of Designation for Preferred Shares.(9)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of Share
  Certificate.(9)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shareholder Investment
  Program. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment Management
  Agreement between ING Investment&nbsp; Management,
  LLC and ING Prime Rate Trust, dated September&nbsp;1, 2000.(9)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended Schedule of
  Approvals with respect to the Investment Management Agreement between ING
  Investments, LLC and ING Prime Rate Trust. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">First Amendment dated September&nbsp;2,
  2004 to the Investment Management Agreement between ING Investment
  Management, LLC and ING Prime Rate Trust. (13)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sub-Advisory Agreement
  between ING Investments, LLC and Aeltus Investment Management,&nbsp;Inc.,
  dated August&nbsp;19, 2003.(11)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">First Amendment to
  Sub-Advisory Agreement, effective as of September&nbsp;1, 2003, between ING
  Investments, LLC and Aeltus Investment Management,&nbsp;Inc. with regards to
  ING Prime Rate Trust. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Second Amendment to
  Sub-Advisory Agreement, effective as of September&nbsp;15, 2007, between ING
  Investments, LLC and ING Investment Management Co. (formerly Aeltus
  Investment Management,&nbsp;Inc.), with regards to ING Prime Rate Trust &#150;
  Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule A to the
  Sub-Advisory Agreement dated September&nbsp;3, 2003 &#150; Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended and Restated
  Distribution Agreement, dated June&nbsp;15, 2004, between ING Prime Rate
  Trust and ING Funds Distributor, LLC (25 Million). (13)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-ga.htm',USER='105432',CD='Jun 26 16:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Underwriting Agreement
  for the Preferred Shares, dated November&nbsp;13, 2000. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Underwriting Agreement
  for the Preferred Shares, dated October&nbsp;30, 2000. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Prime Rate Trust
  Shareholder Reinvestment Program dated April&nbsp;2006.(15)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Custodian and
  Investment Accounting Agreement between Registrant and State Street Bank and
  Trust Company, effective November&nbsp;1, 2001. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">First Amendment to the
  Custodian and Investment Accounting Agreement dated March&nbsp;1, 2002. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Second Amendment to the
  Custodian and Investment Accounting Agreement dated October&nbsp;1, 2007 &#150;
  Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended and Restated Exhibit&nbsp;A,
  effective November&nbsp;22, 2002 with respect to the Custodian and Investment
  Accounting Agreement. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Draft Fee Schedule
  dated December&nbsp;17, 2007 &#150; Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fee Allocation
  Agreement (FT Interactive), dated August&nbsp;21, 2003. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended Schedule A
  dated March&nbsp;2008 to the FT Fee Allocation Agreement &#150; Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended and Restated
  Proxy Agent Fee Allocation Agreement, dated January&nbsp;1, 2007 amends and
  restates the Proxy Agent Allocation Agreement dated August&nbsp;21, 2003.(15)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended Schedule A
  dated March&nbsp;2008 to the Amended and Restated ISS Proxy Agent Fee
  Allocation Agreement &#150; Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule B as of June&nbsp;30,
  2003 to Amended and Restated ISS Proxy Agent Fee Allocation Agreement.(15)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Allocation Agreement
  Fidelity Bond, made May&nbsp;24, 2002. (12)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-ga.htm',USER='105432',CD='Jun 26 16:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended Schedule A
  dated May&nbsp;2007 with respect to the Allocation Agreement (Blanket Bond)
  dated January&nbsp;2005.(15)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Allocation Agreement
  Directors&nbsp;&amp; Officers Liability, made May&nbsp;24, 2002. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended Schedule A
  dated May&nbsp;2007 with respect to the Allocation Agreement Directors&nbsp;&amp;
  Officers Liability.(15)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agency Agreement, made November&nbsp;30,
  2000 by and between Registrant and DST Systems,&nbsp;Inc. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended and Restated Exhibit&nbsp;A
  dated April&nbsp;28, 2008 with respect to the Agency Agreement between The
  Registrant and DST Systems,&nbsp;Inc. &#150; Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended and Restated
  Administration Agreement, amended and restated on April&nbsp;27, 2000. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment, dated November&nbsp;2,
  2001 to the Amended and Restated Administration Agreement.(10)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule of Approvals
  dated August&nbsp;2003 with respect to the Amended and Restated
  Administration Agreement between ING Prime Rate Trust and ING Funds Services,
  LLC (formerly Pilgrim Group,&nbsp;Inc.).(15)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Revolving Credit and Security
  Agreement between ING Prime Rate Trust and Citibank, dated as of July&nbsp;16,
  2003. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;1 to
  the Revolving Credit and Security Agreement, dated February&nbsp;3, 2004.
  (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;2
  dated July&nbsp;13, 2004 to the Revolving Credit and Security Agreement. (13)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment No.&nbsp;3
  dated October&nbsp;15, 2004 to the Revolving Credit and Security Agreement.
  (13)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Second Amended and
  Restated Credit Agreement with Bank of America. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Auction Agency
  Agreement, dated as of November&nbsp;16, 2000. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Auction Agency
  Agreement, dated as of November&nbsp;2, 2000.(12)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 71.3pt;text-indent:-71.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-ga.htm',USER='105432',CD='Jun 26 16:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-Dealer
  Agreement, dated as of November&nbsp;16, 2000 (UBS).&nbsp; (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-Dealer Agreement,
  dated as of November&nbsp;16, 2000 (Salomon Smith Barney). (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-Dealer
  Agreement, dated as of November&nbsp;16, 2000 (Lehman Brothers). (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-Dealer
  Agreement, dated as of November&nbsp;16, 2000 (Gruntal&nbsp;&amp; Co.). (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-Dealer
  Agreement, dated as of November&nbsp;2, 2000 (PaineWebber). (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-Dealer
  Agreement, dated as of November&nbsp;2, 2000 (Gruntal&nbsp;&amp; Co.). (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-Dealer
  Agreement, dated as of November&nbsp;2, 2000 (Salomon Smith Barney). (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-Dealer
  Agreement, dated as of October&nbsp;31, 2000 (Lehman Brothers). (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font></p>
  </td>
  <td width="76%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DTC Letter of
  Representations as to Preferred Shares, dated November&nbsp;15, 2000. (12)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DTC Letter of
  Representation as to Preferred Shares, dated November&nbsp;1, 2000. (12)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Dechert
  Price&nbsp;&amp; Rhoads.(7)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1. &nbsp;Consent of Dechert LLP &#150; Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2. &nbsp;Consent of KPMG LLP &#150; Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certificate of Initial
  Capital.(4)</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1. &nbsp;ING Funds Code of Ethics, effective
  June&nbsp;1, 2004 as amended on October&nbsp;1, 2004, February&nbsp;1, 2005,
  January&nbsp;3, 2006 and May&nbsp;5, 2008 &#150; Filed herein.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="82%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:82.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&nbsp; ING Investment Management (US) Code of
  Ethics, dated August&nbsp;2006.(15)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-ga.htm',USER='105432',CD='Jun 26 16:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;20 to Registrant&#146;s Registration Statement
  under the Investment Company Act of 1940 (the &#147;1940 Act&#148;) on Form&nbsp;N-2
  (File No.&nbsp;811-5410), filed on September&nbsp;16, 1996.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;24 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  November&nbsp;7, 1997.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;22 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  June&nbsp;23, 1997.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Pre-Effective Amendment No.&nbsp;1 to Registrant&#146;s initial
  registration statement on form N-2 (File No.&nbsp;33-18886), filed on
  January&nbsp;22, 1988.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;27 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  May&nbsp;15, 1998.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;28 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  August&nbsp;19, 1998.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;29 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  December&nbsp;2, 1998.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;33 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  May&nbsp;9, 2000.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(9)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;38 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  October&nbsp;23, 2000.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(10)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;45 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  April&nbsp;30, 2002.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(11)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;53 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  June&nbsp;26, 2003.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(12)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;58 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  June&nbsp;28, 2004.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(13)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;61 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  June&nbsp;30, 2005.</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-ga.htm',USER='105432',CD='Jun 26 16:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(14)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;65 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (File No.&nbsp;811-5410), filed on
  June&nbsp;30, 2006.</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(15)</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in .7pt 0in .7pt;width:94.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Incorporated herein by
  reference to Amendment No.&nbsp;69 to Registrant&#146;s Registration Statement
  under the 1940 Act on Form&nbsp;N-2 (file No.&nbsp;811-5410), filed on
  June&nbsp;29, 2007.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 25.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Marketing Agreements</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.76%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:94.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 26.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Other Expenses of Issuance and
  Distribution</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.76%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:94.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 27.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Persons Controlled by or Under
  Common Control</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.76%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:94.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 28.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Number of Holders of Securities</font></b></p>
  </td>
 </tr>
 <tr height="0">
  <td width="43" style="border:none;"></td>
  <td width="43" style="border:none;"></td>
  <td width="662" style="border:none;"></td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="93%" style="border-collapse:collapse;width:93.34%;">
 <tr>
  <td width="51%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:51.16%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(1)&nbsp;Title&nbsp;of&nbsp;Class</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.86%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="44%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.96%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(2)&nbsp;Number&nbsp;of&nbsp;Record&nbsp;Holders<br>
  as&nbsp;of&nbsp;June&nbsp;16,&nbsp;2008</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.02%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:51.16%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Auction&nbsp;Rate&nbsp;Cumulative&nbsp;Preferred&nbsp;Shares&nbsp;<br>
  of&nbsp;beneficial&nbsp;interest,&nbsp;par&nbsp;value&nbsp;$&nbsp;0.01&nbsp;per&nbsp;share:</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.86%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="44%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:44.96%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.02%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.16%;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Series&nbsp;M</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" valign="bottom" style="padding:0in 0in 0in 0in;width:44.96%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,600</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:51.16%;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Series&nbsp;T</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:44.96%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,600</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.16%;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Series&nbsp;W</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" valign="bottom" style="padding:0in 0in 0in 0in;width:44.96%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,600</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:51.16%;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Series&nbsp;Th</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:44.96%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,600</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.16%;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Series&nbsp;F</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" valign="bottom" style="padding:0in 0in 0in 0in;width:44.96%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,600</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="51%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:51.16%;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Shares of beneficial interest, par value
  $0.01 per share</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:44.96%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">145,094,493</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 29.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Indemnification</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s
Agreement and Declaration of Trust generally provides that the Trust shall
indemnify each of its Trustees and officers (including persons who serve at the
Trust&#146;s request as directors, officers or trustees of another organization in
which the Trust has any interest as a shareholder, creditor or otherwise) (&#147;Covered
Persons&#148;) against all liabilities and expenses, including amounts paid in
satisfaction of judgments, in compromise or as fines and penalties, and counsel
fees reasonably incurred in connection with the defense or disposition of any
action, suit or other proceeding, whether civil or criminal, by reason of being
or having been such a Covered Person except with respect to any matter as to which
such Covered Person shall have been finally adjudicated (a)&nbsp;not to have
acted in good faith in the reasonable belief that such Covered Person&#146;s </font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-ga.htm',USER='105432',CD='Jun 26 16:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">action was in the best
interest of the Trust or (b)&nbsp;to be liable to the Trust or its shareholders
by reason of willful misfeasance, bad faith, gross negligence or reckless
disregard of duties involved in the conduct of such Covered Person&#146;s office.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Insofar as
indemnification for liabilities arising under the Securities Act may be
permitted to Trustees, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been
advised that in the opinion of the Commission, such indemnification is against
public policy as expressed in the Securities Act and is, therefore,
unenforceable.&#160; In the event that a claim
for indemnification against such liabilities (other than the payment of the
Registrant of expenses incurred or paid by a Trustee, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such Trustee, officer or controlling person in
connection with the securities being registered, the Registrant will submit,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 71.3pt;text-indent:-71.3pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 30.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Business
and Other Connections of Investment Adviser</b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Information as to the
Trustees and officers of the Adviser, together with information as to any other
business, profession, vocation or employment of a substantial nature engaged in
by the directors and officers of the Adviser in the last two years, is included
in its application for registration as an investment adviser on Form&nbsp;ADV
(File No.&nbsp;801-48282) filed under the Investment Advisers Act of 1940, as
amended (&#147;Advisers Act&#148;), and is incorporated herein by reference thereto.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Information as to the
directors and officers of the sub-adviser, together with information as to any
other business, profession, vocation or employment of a substantial nature
engaged in by the directors and officers of the sub-adviser in the last two years,
is included in its application for registration as an investment adviser on Form&nbsp;ADV
for ING Investment Management Co. (File No.&nbsp;801-9046) filed under the
Investment Adviser Act of 1940, as amended, and is incorporated by reference
thereto.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 71.3pt;text-indent:-71.3pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 31.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Location
of Accounts and Records</b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The amounts and
records of the Registrant will be maintained at its office at 7337 E.
Doubletree Ranch Road, Scottsdale, Arizona 85258, at the office of its
sub-adviser, ING Investment Management Co., 230 Park Avenue, New York, NY 10169
and at the office of its custodian, State Street Bank&nbsp;&amp; Trust - Kansas
City, 801 Pennsylvania, Kansas City, Missouri 64105.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 71.3pt;text-indent:-71.3pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 32.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Management
Services</b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-ga.htm',USER='105432',CD='Jun 26 16:46 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="13%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:13.18%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 33.</font></b></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Undertakings</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="13%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:13.18%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Registrant
  undertakes to suspend the Offer until the prospectus is amended if
  (1)&nbsp;subsequent to the effective </font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="4" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">date of this
  registration statement, the net asset value declines more than ten percent
  from its net asset value as of the effective date of this registration
  statement or (2)&nbsp;the net asset value increases to an amount greater than
  the net proceeds as stated in the prospectus included in this registration
  statement.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.06%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="79%" valign="top" style="padding:0in .7pt 0in .7pt;width:79.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.06%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">a.</font></p>
  </td>
  <td width="79%" valign="top" style="padding:0in .7pt 0in .7pt;width:79.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Registrant undertakes
  that for the purpose of determining any liability under the 1933 Act, the
  information omitted from the form of prospectus filed as part of this
  Registration Statement in reliance upon Rule&nbsp;430A and contained in a
  form of prospectus filed by the Registrant under Rule497(h)&nbsp;under the
  1933 Act [17 CFR 30.497(h)] shall be deemed to be part of this Registration
  Statement as of the time it was declared effective; and</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.06%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="79%" valign="top" style="padding:0in .7pt 0in .7pt;width:79.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.06%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">b.</font></p>
  </td>
  <td width="79%" valign="top" style="padding:0in .7pt 0in .7pt;width:79.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">that for the purpose of
  determining any liability under the 1933 Act, each post-effective amendment
  that contains a form of prospectus shall be deemed to be a new registration
  statement relating to the securities offered therein, and the offering of the
  securities at that time shall be deemed to be the initial bona fide offering
  thereof.</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.06%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="79%" valign="top" style="padding:0in .7pt 0in .7pt;width:79.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.58%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font></p>
  </td>
  <td width="86%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:86.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Registrant
  undertakes to send by first class mail or other means designed to ensure
  equally prompt delivery, within two business days of receipt of a written or
  oral request, any Statement of Additional Information.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-ga.htm',USER='105432',CD='Jun 26 16:46 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
requirements of the Securities Act of 1933, as amended (the &#147;1933 Act&#148;), and
the Investment Company Act of 1940, as amended, the Registrant has duly caused
this Registration Statement to be signed on its behalf by the undersigned,
thereto duly authorized, in the City of Scottsdale in the State of Arizona this
27<sup>th</sup> day of June, 2008</font><font size="2" style="font-size:10.0pt;">.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING
  PRIME RATE TRUST</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Huey P.
  Falgout,&nbsp;Jr.</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Huey P. Falgout,&nbsp;Jr.
  </font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Secretary</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 2.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
requirements of the Securities Act of 1933, this Registration Statement has
been signed below by the following persons in the capacities and on the date
indicated:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Signature</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="31%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:31.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Title</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Date</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John V. Boyer*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Colleen D. Baldwin*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interested Trustee and </font></p>
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and Chief </font></p>
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive Officer</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shaun P.
  Mathews*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Vice President, </font></p>
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief/Principal
  Financial </font></p>
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Officer</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Todd Modic*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Patricia W.
  Chadwick*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J. Michael
  Earley*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter S. Drotch*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Patrick W.
  Kenny*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105455\08-11032-2\task3006227\11032-2-jc-01.htm',USER='105455',CD='Jun 26 17:41 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sheryl K.
  Pressler*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interested Trustee</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert W.
  Crispin*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trustee</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27,
  2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Roger B.
  Vincent*</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">* </font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Huey P.
  Falgout,&nbsp;Jr.</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Huey
  P. Falgout,&nbsp;Jr.</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attorney-in-Fact**</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">* Powers of Attorney for
Todd Modic and each Trustee &#150; were attached to Post-Effective Amendment No.&nbsp;19
to the Registrant&#146;s Form&nbsp;N-2 Registration Statement on April&nbsp;29, 2008
and are incorporated herein by reference.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105455\08-11032-2\task3006227\11032-2-jc-01.htm',USER='105455',CD='Jun 26 17:41 2008' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT INDEX</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:none;">ING PRIME RATE
TRUST</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(25,000,000 Common Shares)</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;text-transform:none;">&nbsp;</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;text-transform:none;">EXHIBIT&nbsp;NUMBER</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-transform:uppercase;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="83%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:83.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-transform:uppercase;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;text-transform:none;">EXHIBIT&nbsp;NAME</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(g)(2)(ii)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Second Amendment to
  Sub-Advisory Agreement, effective as of September&nbsp;15, 2007, between ING
  Investments, LLC and ING Investment Management Co. (formerly Aeltus
  Investment Management,&nbsp;Inc.), with regards to ING Prime Rate Trust</font></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(g)(2)(iii)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule A to the
  Sub-Advisory Agreement dated September&nbsp;3, 2003</font></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(j)(1)(ii)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Second Amendment to the
  Custodian and Investment Accounting Agreement dated October&nbsp;1, 2007</font></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(j)(1)(iv)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Draft Fee Schedule
  dated December&nbsp;17, 2007</font></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(j)(2)(i)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended Schedule A
  dated March&nbsp;2008 to the FT Fee Allocation Agreement</font></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(j)(3)(i)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended Schedule A
  dated March&nbsp;2008 to the Amended and Restated ISS Proxy Agent Fee
  Allocation Agreement</font></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(j)(6)(i)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended and Restated
  Exhibit&nbsp;A dated April&nbsp;28, 2008 with respect to the Agency Agreement
  between The Registrant and DST Systems,&nbsp;Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(n)(1)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent
  of Dechert LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(n)(2)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of KPMG LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.44%;">
  <p style="margin:0in 0in .0001pt;text-transform:uppercase;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">(r)(1)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="83%" valign="top" style="padding:0in 0in 0in 0in;width:83.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Funds Code of
  Ethics, effective June&nbsp;1, 2004 as amended on October&nbsp;1, 2004,
  February&nbsp;1, 2005, January&nbsp;3, 2006 and May&nbsp;5, 2008</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\apadma\08-11032-2\task3006152\11032-2-je-01.htm',USER='105432',CD='Jun 26 16:49 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(G)(2)(II)
<SEQUENCE>2
<FILENAME>a08-11032_2ex99dbg2ii.htm
<DESCRIPTION>EX-99.B(G)(2)(II)
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;99.B(g)(2)(ii)</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECOND
AMENDMENT TO SUB-ADVISORY AGREEMENT</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING PRIME
RATE TRUST</font></b></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Second Amendment,
effective as of September&nbsp;15, 2007, amends the Sub-Advisory Agreement (the
&#147;Agreement&#148;) dated the 19th day of August, 2003 between ING Investments, LLC,
an Arizona limited liability company (the &#147;Manager&#148;), and ING Investment
Management Co. (formerly Aeltus Investment Management,&nbsp;Inc.), a
Connecticut corporation (the &#147;Sub-Adviser&#148;) with regards to ING Prime Rate
Trust, a Series&nbsp;of ING Prime Rate Trust.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">W I T N E S S E T
H</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the parties
desire to amend the Agreement and agree that the amendment will be effective as
of September&nbsp;15, 2007.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The following information will be
inserted as Section&nbsp;2 (f):</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With respect to any investments, including, but not
limited to, repurchase and reverse repurchase agreements, derivatives
contracts, futures contracts,</font> International Swaps and Derivatives Association,&nbsp;Inc. Master
Agreements, and options on futures contracts (&#147;futures&#148;), which are permitted to be
made by the Sub-Adviser in accordance with this Agreement and the investment
objectives and strategies of the Series, as outlined in the Registration
Statement of the Fund, the Manager hereby authorizes and directs the Sub-Adviser
to do and perform every act and thing whatsoever necessary or incidental in
performing its duties and obligations under this Agreement including, but not
limited to, executing as agent, on behalf of each Series, brokerage agreements
and other documents to establish, operate and conduct all brokerage or other
trading accounts, and executing as agent, on behalf of each Series, such
agreements and other documentation as may be required for the purchase or sale,
assignment, transfer and ownership of any permitted investment, including
limited partnership agreements, repurchase and derivative master agreements,
including any schedules and annexes to such agreements, releases, consents,
elections and confirmations.&#160; The Manager
acknowledges and understands that it will be bound by any such trading accounts
established, and agreements and other documentation executed, by the Sub-Adviser
for such investment purposes.</p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Capitalized terms used in this Amendment and not
otherwise defined shall have the meanings ascribed to them in the Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In all other respects, the Agreement is hereby confirmed
and remains in full force and effect.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='1',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-aa.htm',USER='105325',CD='Jun 26 18:13 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the parties hereto have caused
this instrument to be executed as of the day and year first above written.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="57%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:57.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING INVESTMENTS, LLC</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="57%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:57.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="57%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:57.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="51%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:51.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Todd Modic</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:51.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Todd Modic</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:51.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Vice President</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:51.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:51.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="57%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:57.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">INVESTMENT MANAGEMENT,
  CO.</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="57%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:57.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="57%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:57.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="51%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:51.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Jeffrey Becker</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jeffrey Becker</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.82%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EVP, Chief Financial
  Officer</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-aa.htm',USER='105325',CD='Jun 26 18:13 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(G)(2)(III)
<SEQUENCE>3
<FILENAME>a08-11032_2ex99dbg2iii.htm
<DESCRIPTION>EX-99.B(G)(2)(III)
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div>

<h3 align="right" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;99.B(g)(2)(iii)</font></b></h3>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h3 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SCHEDULE A</font></b></h3>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">with respect to the</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SUB-ADVISORY AGREEMENT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">between</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING INVESTMENTS, LLC</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">and</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AELTUS INVESTMENT MANAGEMENT, INC.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="95%" style="border-collapse:collapse;width:95.0%;">
 <tr>
  <td width="65%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:65.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Series</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="30%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Annual<br>
  Sub-Adviser&nbsp;Fee</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="bottom" style="padding:0in 0in 0in 0in;width:65.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="30%" valign="bottom" style="padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(as&nbsp;a&nbsp;percentage&nbsp;of&nbsp;managed&nbsp;assets*)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Prime Rate Trust</font></p>
  </td>
  <td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">.3600</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">* Managed Assets means average daily gross assets, minus the sum of the
Trust&#146;s accrued and unpaid dividends on any outstanding preferred shares and
accrued liabilities (other than liabilities for the principal amount of any
borrowings incurred, commercial paper or notes issued by the Trust, and the
liquidation preference of any outstanding preferred shares).</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ac.htm',USER='105540',CD='Jun 26 16:02 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(J)(1)(II)
<SEQUENCE>4
<FILENAME>a08-11032_2ex99dbj1ii.htm
<DESCRIPTION>EX-99.B(J)(1)(II)
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;99.B(j)(1)(ii)</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECOND AMENDMENT TO CUSTODIAN AND</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INVESTMENT ACCOUNTING AGREEMENT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS SECOND AMENDMENT TO CUSTODIAN AND INVESTMENT ACCOUNTING AGREEMENT </font></b>(the
&#147;Amendment&#148;) is made and entered into as of October&nbsp;1, 2007 by and between
<b>EACH OF THE FUNDS SET FORTH ON EXHIBIT A DATED
NOVEMBER 1, 2001,</b> attached to the Agreement and attached hereto for
reference (each a &#147;Client&#148;) and <b>STATE STREET BANK AND
TRUST COMPANY,</b> a Massachusetts trust company (&#147;State Street&#148;).</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WITNESSETH:</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS, </font></b>Client and
State Street are parties to that certain Custodian and Investment Accounting
Agreement dated as of November&nbsp;1, 2001 (the &#147;Agreement&#148;); and</p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS, </font></b>Client and
State Street desire to amend and supplement the Agreement upon the following
terms and conditions.</p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW THEREFORE,</font></b> for
and in consideration of the mutual promises contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Client and State Street hereby agree that the Agreement is
amended and supplemented as follows:</p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font>Exhibit&nbsp;A
shall be replaced in its entirety by the Exhibit&nbsp;A dated October&nbsp;1,
2007 attached hereto and incorporated herein by this reference.</p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font>General
Provisions.&#160; This Amendment will at all
times and in all respects be construed, interpreted, and governed by the laws
of The Commonwealth of Massachusetts, without giving effect to the conflict of
laws provisions thereof.&#160; This Amendment
may be executed in any number of counterparts, each constituting an original
and all considered one and the same agreement.&#160;
This Amendment is intended to modify and amend the Agreement and the
terms of this Amendment and the Agreement are to be construed to be cumulative
and not exclusive of each other.&#160; Except
as provided herein, the Agreement is hereby ratified and confirmed and remains
in full force and effect.</p>

<p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:.25in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">IN WITNESS WHEREOF, </font></b>the
parties have caused this Amendment to be executed by their duly authorized
officers to be effective as of the date first above written.</p>

<p style="margin:0in 0in .0001pt .5in;text-indent:.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="90%" style="border-collapse:collapse;margin-left:.45in;width:90.0%;">
 <tr>
  <td width="47%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:47.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">STATE STREET BANK AND TRUST<br>
  COMPANY</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.6%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:49.88%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">On Behalf of Each of the Funds Set Forth on<br>
  Exhibit&nbsp;A attached hereto</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="47%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:47.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.6%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:49.88%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="43%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Mark Nicholson</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="45%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Todd Modic</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:6.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="40%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:40.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mark Nicholson</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:6.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.42%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Todd Modie</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:5.2%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="42%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:42.32%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Vice President</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Vice President</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="29" style="border:none;"></td>
  <td width="6" style="border:none;"></td>
  <td width="9" style="border:none;"></td>
  <td width="275" style="border:none;"></td>
  <td width="18" style="border:none;"></td>
  <td width="29" style="border:none;"></td>
  <td width="7" style="border:none;"></td>
  <td width="8" style="border:none;"></td>
  <td width="292" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ae.htm',USER='105540',CD='Jun 26 16:09 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">LIST OF FUNDS</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Amended as of October&nbsp;1, 2007</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="55%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:55.98%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">ENTITY NAME</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="40%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:40.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">JURISDICTION</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:55.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SENIOR INCOME FUND</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="40%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:40.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Delaware Business Trust</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PRIME RATE TRUST</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="40%" valign="top" style="padding:0in 0in 0in 0in;width:40.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Massachusetts Business Trust</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ae.htm',USER='105540',CD='Jun 26 16:09 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(J)(1)(IV)
<SEQUENCE>5
<FILENAME>a08-11032_2ex99dbj1iv.htm
<DESCRIPTION>EX-99.B(J)(1)(IV)
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<h1 align="right" style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:right;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;">Exhibit&nbsp;99.B(j)(1)(iv)</font></i></b></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">STATE STREET BANK&nbsp;&amp; TRUST COMPANY</font></i></b></h1>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">DRAFT FEE SCHEDULE</font></i></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">For</font></i></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PRIME RATE TRUST</font></i></b></h1>

<h1 style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">And</font></i></b></h1>

<h1 style="font-style:italic;font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">SENIOR INCOME FUNDS</font></i></b></h1>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">March&nbsp;1,
2008 to February&nbsp;28, 2010</font></i></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;font-weight:bold;">I</font>.</font></i></b><b><i><font size="1" style="font-size:3.0pt;font-style:italic;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>INVESTMENT
ACCOUNTING</i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">A</font>.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Asset
Based Fee on a Total Relationship Basis</u></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.00/100 of 1% (2.00
basis points) on the first $3.5 billion in assets.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.00/100 of 1%
(1.00 basis points) on the next $26.5 billion in assets.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0.75/100 of 1%
(0.75 basis points) on all assets in excess of $30.0 billion in assets.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">There
is a monthly minimum fee of $5,000 per portfolio.&#160; The monthly minimum fee does not apply to any
portfolio if the asset based fee discussed in I.A. above produces greater
revenue than the per portfolio minimum would produce on an aggregate basis.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">B</font>.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Monthly
Fee Per Additional Class</u></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>There
will be no charge for the first 5 (five) retail classes and 2 (two) variable
product classes.&#160; Any class over this
limit will be charged at $250.00.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Pricing</u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="60%" style="border-collapse:collapse;margin-left:1.0in;width:60.0%;">
 <tr>
  <td width="64%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:64.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Security&nbsp;Type</font></b></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="30%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:30.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Price&nbsp;Per&nbsp;Month&nbsp;Per<br>
  Position</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="64%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:64.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Domestic
  Equities</font></p>
  </td>
  <td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.14%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.00</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">International Equities</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.14%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.00</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="64%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:64.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Domestic
  Corp.&nbsp;&amp; Govt. Bonds</font></p>
  </td>
  <td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:28.14%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.00</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">International
  Bonds/Foreign Loans</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.14%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.00</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="64%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:64.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Domestic
  Mortgages</font></p>
  </td>
  <td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="28%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:28.14%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.00</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="64%" valign="top" style="padding:0in 0in 0in 0in;width:64.0%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CMO&#146;s</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="28%" valign="bottom" style="padding:0in 0in 0in 0in;width:28.14%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.00</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;font-weight:bold;">II</font>.</font></i></b><b><i><font size="1" style="font-size:3.0pt;font-style:italic;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>SECURITY
CUSTODY</i></b></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">A</font>.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Domestic
Custody</u></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transaction Fee,
per transaction:</font></p>

<p style="margin:0in 0in .0001pt 87.35pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Physical Delivery
- - $20.00</font></p>

<p style="margin:0in 0in .0001pt 87.35pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Depository
Eligible - $7.00</font></p>

<p style="margin:0in 0in .0001pt 87.35pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mortgage-backed
Principal&nbsp;&amp; Interest Paydown - $10.00</font></p>

<p style="margin:0in 0in .0001pt 87.35pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">State Street Bank
REPO - $50.00 per month, per Fund</font></p>

<p style="margin:0in 0in .0001pt;text-indent:87.35pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Federal Funds Wire
Received or Delivered - $6.00 per wire</font></p>

<p style="margin:0in 0in .0001pt;text-indent:87.35pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Futures and
Options - $25.00</font></p>

<p style="margin:0in 0in .0001pt;text-indent:87.35pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Third Party
Foreign Exchange Trades - $25.00</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='1',FILE='C:\JMS\zaria\08-11032-5\task3005705\11032-5-ag.htm',USER='105281',CD='Jun 26 13:56 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">B</font>.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Prime
Rate Trust and Senior Bond Fund Loan Servicing Fees:</u></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following
asset-based fees cover the loan accounting and asset custodial functions.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Asset-Based Fee</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 87.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.5/100 of 1% (2.5 basis
points) on the first $250 million in portfolio assets</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 87.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.25/100 of 1% (2.25
basis points) on the next $500 million in portfolio assets</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 87.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.00/100 of 1% (2.00
basis points) on the next $250 million in portfolio assets</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 87.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.75/100 of 1% (1.75
basis points) on all assets in excess of $1 billion</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">C</font>.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Foreign
Securities</u></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="65%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">MARKET/<br>
  COUNTRY</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">ASSET<br>
  CHARGE</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">TRANSACTION<br>
  CHARGE</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Argentina</font></i></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Australia</font></i></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Austria</font></i></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Bangladesh</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">200</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Belgium</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Belize</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">60</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">125</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Bermuda</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">110</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Botswana</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">120</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Brazil</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Canada</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cedel/Euroclear</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Chile</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Colombia</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">160</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Czech
  Republic</font></i></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Denmark</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Egypt</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">150</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Estonia</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Finland</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">France</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Germany</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Ghana
  (GBP)</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Greece</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Hong
  Kong</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Hungary</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">India</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">200</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Indonesia</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Ireland</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Israel</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Italy</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Japan</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Jordan</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">170</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Kenya</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Luxembourg</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Malaysia</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Mauritius</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">125</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Mexico</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Morocco</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Namibia</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">125</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Netherlands</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">New
  Zealand</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Norway</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Pakistan</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">110</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Peru</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">150</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Philippines</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Poland</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Portugal</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Romania</font></i></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Shanghai
  (China)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">160</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Shenzhen
  (China)</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">160</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Singapore</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Slovenia</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">125</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">South
  Africa</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">South
  Korea</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Spain</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Sri
  Lanka</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Sweden</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Switzerland</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Taiwan</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Thailand</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Turkey</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">United
  Kingdom</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">United
  States</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">.25</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">See fees above</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Uruguay</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">125</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Venezuela</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">150</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:65.5%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Zimbabwe</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:14.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">125</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOTE: Any country not listed
above will be negotiated at time of investment.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\zaria\08-11032-5\task3005705\11032-5-ag.htm',USER='105281',CD='Jun 26 13:56 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Out of Pocket Expenses will be billed as incurred (e.g. stamp taxes,</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">registration costs, script fees, special transportation costs, etc.).</font></b></p>

<p style="margin:0in 0in .0001pt 1.5in;text-indent:-1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Balance
Credits</u></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">State Street will
offset fees with balance credits calculated at 75% of the bank credit rate (see
below) applied to average custody collected cash balances for the month.&#160; Balance credits can be used to offset
fees.&#160; Any credits in excess of fees will
be carried forward from month to month through the end of the calendar
year.&#160; For calculation purposes, State
Street uses an actual/actual basis.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note:&#160; The bank credit rate is the equivalent to the
lesser of:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The average 91-day
Treasury Bill discount rate for the month</p>

<p style="margin:0in 0in .0001pt 87.35pt;text-indent:20.65pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The average Federal
Funds rate for the month less 50 basis points.</p>

<p style="margin:0in 0in .0001pt 1.25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;font-weight:bold;">III</font>.</font></i></b><b><i><font size="1" style="font-size:3.0pt;font-style:italic;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>NOTES TO THE ABOVE FEE
SCHEDULE</i></b></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">A</font>.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Asset based fees will
be billed and payable monthly at 1/12th of the annual stated rate based on
monthly net assets.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">B</font>.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The above schedule
does not include out-of-pocket expenses that would be incurred by State Street
on the client&#146;s behalf.&#160; Examples of
out-of-pocket expenses include but are not limited to record retention, microfiche,
disaster recovery, pricing research services, overnight mailing services,
foreign registration and script fees, etc.&#160;
State Street bills out-of-pocket expenses separately from service fees.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">C</font>.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The fees stated above
are exclusive of terminal equipment required in the client&#146;s location(s)&nbsp;and
communication line costs.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">D</font>.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Any fees or
out-of-pocket expenses not paid within 30 days of the date of the original
invoice will be charged a late payment fee of 1% per month until payment of the
fees are received by State Street.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">E</font>.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The fees are
guaranteed for at least a two-year period commencing on the effective date
listed above between State Street and ING Funds.&#160; All changes to the fee schedule will be
communicated in writing at least 60 days prior to their effective date.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">F</font>.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Overdrafts will be
calculated at the monthly average Prime rate (as published in the <i>Wall Street Journal</i>) and charged on the monthly average
overdraft balance.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\zaria\08-11032-5\task3005705\11032-5-ag.htm',USER='105281',CD='Jun 26 13:56 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">G.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Any additional requests
outside of normal accounting and custody service activities will be assessed on
an individual basis.<font style="layout-grid-mode:both;">&#160; State Street will provide ING Funds
or their designees with standard reports or information via hardcopy, fax, or
through the In-Sight product.&#160; This will
include Auditors and Sub-Advisors as authorized and communicated by ING Funds.&#160; Any additional service requests outside of
normal accounting and custody service activities will be assessed on an
individual basis.&#160; </font><font style="layout-grid-mode:both;">State Street and ING Funds agree to review future
service or technology requests as they surface and </font><font style="layout-grid-mode:both;">work with each other to
review the business needs and determine if any existing standard reports will
satisfy the requirements.&#160; In the event
customization of services or technology is required the following will apply:</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;layout-grid-mode:both;">Customized: </font></i><font style="layout-grid-mode:both;">State Street will work
with ING Funds to design and develop ad hoc reports as necessary.&#160; The costs for designing and developing such
ad hoc reports will be assessed on an individual basis.&#160; </font><font style="layout-grid-mode:both;">Customized reporting for desktop
applications are typically billed at a rate of $150.00 per hour.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:48.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;Mark
  Nicholson</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:48.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;/s/ Todd
  Modic</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:48.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;State
  Street Bank&nbsp;&amp; Trust Company</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:48.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;ING Prime
  Rate Trust Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;ING Senior
  Income Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:48.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;12/17/07</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:48.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;12/13/07</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:48.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;Date</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:48.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;Date</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\zaria\08-11032-5\task3005705\11032-5-ag.htm',USER='105281',CD='Jun 26 13:56 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(J)(2)(I)
<SEQUENCE>6
<FILENAME>a08-11032_2ex99dbj2i.htm
<DESCRIPTION>EX-99.B(J)(2)(I)
<TEXT>

<html>

<head>







</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;99.B(j)(2)(i)</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">AMENDED
SCHEDULE A</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">with
respect to the</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h6 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">FT FEE ALLOCATION AGREEMENT</font></b></h6>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING ASIA PACIFIC HIGH DIVIDEND</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING GLOBAL EQUITY DIVIDEND AND</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EQUITY INCOME FUND</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PREMIUM OPPORTUNITY FUND</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING EQUITY TRUST</font></u></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING INFRASTRUCTURE DEVELOPMENT</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Equity Dividend Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EQUITY FUND</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Financial Services Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Fundamental Research Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING INTERNATIONAL HIGH DIVIDEND</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Plus LargeCap Equity Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EQUITY INCOME FUND</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Plus LargeCap Equity Fund II</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Plus LargeCap Equity Fund III</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING INVESTORS TRUST</font></u></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Plus LargeCap Equity Fund IV</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING AllianceBernstein Mid Cap Growth Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Plus LargeCap Equity Fund V</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American Funds Asset Allocation Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Plus LargeCap Equity Fund VI</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American Funds Bond Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LargeCap Growth Fund </font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American Funds Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LargeCap Value Fund </font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American Funds Growth-Income Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING MidCap Opportunities Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American Funds International Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund VII</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING BlackRock Inflation Protected Bond Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund VIII</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING BlackRock Large Cap Growth Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund IX</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING BlackRock Large Cap Value Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund X</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Capital Guardian Small/Mid Cap Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund XI</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Capital Guardian U.S. Equities Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund XII</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Disciplined Small Cap Value Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Real Estate Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING EquitiesPlus Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SmallCap Opportunities Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Evergreen Health Sciences Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SmallCap Value Multi-Manager Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Evergreen Omega Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Value Choice Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING FMR<sup>SM</sup> Diversified Mid Cap Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Franklin Income Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING FUNDS TRUST</font></u></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Franklin Mutual Shares Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Classic Money Market Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Focus 5 Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GNMA Income Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Franklin Templeton Founding Strategy Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING High Yield Bond Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Real Estate Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Institutional Prime Money Market Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Resources Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Intermediate Bond Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Technology Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING National Tax-Exempt Bond Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Goldman Sachs Commodity Strategy Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International Growth Opportunities Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING GLOBAL ADVANTAGE AND PREMIUM</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Janus Contrarian Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">OPPORTUNITY FUND</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan Emerging Markets Equity Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan Small Cap Core Equity Portfolio(1)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Under the terms of the
Management Agreement between ING Investors Trust and Directed Services, LLC.,
the Fund is subject to a unified fee arrangement.&#160; Accordingly, the portion of SCAS Fees
allocated to the Fund under the Agreement will be borne directly by Directed
Services, LLC as provided in the Management Agreement.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='1',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ai.htm',USER='105540',CD='Jun 26 16:20 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan Value Opportunities Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Diversified International Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Julius Baer Foreign Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Emerging Countries Fund </font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Legg Mason Value Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Emerging Markets Fixed Income Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle Aggressive Growth Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING European Real Estate Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle Conservative Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Foreign Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle Growth Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Bond Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle Moderate Growth Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Equity Dividend Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle Moderate Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Natural Resources Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Limited Maturity Bond Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Real Estate Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Liquid Assets Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Value Choice Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Lord Abbett Affiliated Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Greater China Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Marsico Growth Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Plus International Equity Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Marsico International Opportunities Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International Capital Appreciation Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING MFS Total Return Portfolio1</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International Equity Dividend Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING MFS Utilities Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International Growth Opportunities Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Mid Cap Growth Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International Real Estate Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Multi-Manager International Small Cap Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International SmallCap Multi-Manager Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Oppenheimer Main Street Portfolio<sup>&#174;</sup>(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International Value Choice Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PIMCO Core Bond Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International Opportunities Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PIMCO High Yield Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Russia Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Pioneer Equity Income Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Pioneer Fund Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING PARTNERS, INC.</font></u></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Pioneer Mid Cap Value Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American Century Large Company Value Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Stock Index Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American Century Small-Mid Cap Value Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING T. Rowe Price Capital Appreciation Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Baron Asset Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING T. Rowe Price Equity Income Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Baron Small Cap Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Templeton Global Growth Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Columbia Small Cap Value II Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING UBS U.S. Allocation Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Davis New York Venture Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen Capital Growth Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Fidelity<sup>&#174;</sup> VIP Contrafund<sup>&#174;</sup> Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen Global Franchise Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Fidelity<sup>&#174;</sup> VIP Equity-Income Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen Growth and Income Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Fidelity<sup>&#174;</sup> VIP Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen Large Cap Growth Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Fidelity<sup>&#174;</sup> VIP Mid Cap Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen Real Estate Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Solution 2015 Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING VP Index Plus International Equity Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Solution 2025 Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Wells Fargo Disciplined Value Portfolio(1)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Solution 2035 Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Wells Fargo Small Cap Disciplined Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Solution 2045 Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Solution Income Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING MAYFLOWER TRUST</font></u></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan International Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International Value Fund </font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan Mid Cap Value Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Legg Mason Partners Aggressive Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING MUTUAL FUNDS</font></u></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Asia-Pacific Real Estate Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Disciplined International SmallCap Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Under the terms of the
Management Agreement between ING Investors Trust and Directed Services, LLC,
the Fund is subject to a unified fee arrangement.&#160; Accordingly, the portion of SCAS Fees
allocated to the Fund under the Agreement will be borne directly by Directed
Services, LLC as provided in the Management Agreement.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ai.htm',USER='105540',CD='Jun 26 16:20 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Legg Mason Partners Large Cap Growth Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;4</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Lord Abbett U.S. Government Securities Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;5</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Neuberger Berman Partners Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;6</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Neuberger Berman Regency Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;7</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING OpCap Balanced Value Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;8</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Oppenheimer Global Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;9</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Oppenheimer Strategic Income Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;10</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PIMCO Total Return Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;11</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Pioneer High Yield Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;12</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution 2015 Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;13</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution 2025 Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="top" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;14</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution 2035 Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING VP Global Equity Dividend
  Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution 2045 Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution Growth and Income Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <h1 align="left" style="font-weight:bold;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET FUND</font></u></b></h1>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution Growth Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET Fund &#150; Series&nbsp;V</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution Income Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <h1 align="left" style="font-weight:bold;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING T. Rowe Price Diversified Mid Cap Growth Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <h1 align="left" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><u><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">ING
  SERIES FUND, </font>INC</font></u></b><u>.</u></h1>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING T. Rowe Price Growth Equity Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Brokerage
  Cash Reserves</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Templeton Foreign Equity Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  130/30 Fundamental Research Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Thornburg Value Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Balanced Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING UBS U.S. Large Cap Equity Portfolio </font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Disciplined Core Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING UBS U.S. Small Cap Growth Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Income Builder Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen Comstock Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Science and Technology Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen Equity and Income Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Growth and Income Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING PRIME RATE TRUST</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus MidCap Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus SmallCap Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING RISK MANAGED NATURAL RESOURCES FUND</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Money Market Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Small Company Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING SENIOR INCOME FUND</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Strategic Allocation Conservative Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Strategic Allocation Growth Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING SEPARATE PORTFOLIOS TRUST</font></u></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Strategic Allocation Moderate Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SPorts Core Fixed Income Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Tactical Asset Allocation Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SPorts Core Plus Fixed Income Fund</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <h1 align="left" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><u><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">ING
  STRATEGIC ALLOCATION </font>PORTFOLIOS</font></u></b><u>, INC.</u></h1>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING VARIABLE INSURANCE TRUST</font></u></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Strategic Allocation Conservative Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;1</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Strategic Allocation Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;2</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Strategic Allocation Moderate Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S. Core Portfolio - Series&nbsp;3</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <h1 align="left" style="font-weight:bold;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING VARIABLE FUNDS</font></u></b></h1>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Growth and Income Portfolio</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Under the terms of the
Management Agreement between ING Investors Trust and Directed Services, LLC,
the Fund is subject to a unified fee arrangement.&#160; Accordingly, the portion of SCAS Fees
allocated to the Fund under the Agreement will be borne directly by Directed
Services, LLC as provided in the Management Agreement.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ai.htm',USER='105540',CD='Jun 26 16:20 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <h1 align="left" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><u><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">ING
  </font>VARIABLE</font></u></b><u>
  PORTFOLIOS, INC.</u></h1>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <h1 align="left" style="font-weight:bold;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></h1>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Index Plus LargeCap Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Index Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Index Plus MidCap Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  BlackRock Global Science and Technology Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Index Plus SmallCap Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Lehman Brothers U.S. Aggregate Bond Index Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Small Company Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Morningstar U.S. Growth Index Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  WisdomTree<sup>sm</sup> Global High-Yielding Equity Index Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Russell&#153; Global Large Cap Index&nbsp; 85% Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Russell&#153; Large Cap Index Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP BALANCED PORTFOLIO, INC.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Russell&#153; Mid Cap Index Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Russell&#153; Small Cap Index Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP INTERMEDIATE BOND PORTFOLIO</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  &#150;Opportunistic LargeCap Growth Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="345" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:258.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Opportunistic LargeCap Value Portfolio</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="359" valign="bottom" style="padding:0in 0in 0in 0in;width:269.1pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP MONEY MARKET PORTFOLIO</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Under the terms of the
Management Agreement between ING Investors Trust and Directed Services, LLC,
the Fund is subject to a unified fee arrangement.&#160; Accordingly, the portion of SCAS Fees
allocated to the Fund under the Agreement will be borne directly by Directed
Services, LLC as provided in the Management Agreement.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ai.htm',USER='105540',CD='Jun 26 16:20 2008' -->




</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(J)(3)(I)
<SEQUENCE>7
<FILENAME>a08-11032_2ex99dbj3i.htm
<DESCRIPTION>EX-99.B(J)(3)(I)
<TEXT>

<html>

<head>







</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;99.B(j)(3)(i)</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">AMENDED
SCHEDULE A</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">with respect to the</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h6 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">AMENDED AND RESTATED</font></b></h6>

<h6 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ISS PROXY VOTING FEE
ALLOCATION AGREEMENT</font></b></h6>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="99%" style="border-collapse:collapse;width:99.42%;">
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING ASIA PACIFIC HIGH
  DIVIDEND</font></b></h1>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING GLOBAL ADVANTAGE AND</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EQUITY INCOME FUND</font></b></h1>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PREMIUM OPPORTUNITY FUND</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:uppercase;">&nbsp;</font></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING EQUITY TRUST</font></u></b></h1>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING GLOBAL EQUITY
  DIVIDEND AND</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Equity Dividend Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PREMIUM OPPORTUNITY FUND</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Financial Services Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Fundamental Research Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING INFRASTRUCTURE
  DEVELOPMENT</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Equity Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EQUITY FUND</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Equity Fund II</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Equity Fund III</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING INTERNATIONAL HIGH
  DIVIDEND</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Equity Fund IV</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EQUITY INCOME FUND</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Equity Fund V</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Equity Fund VI</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING INVESTORS TRUST</font></u></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  LargeCap Growth Fund </font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  AllianceBernstein Mid Cap Growth Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  LargeCap Value Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  American Funds Asset Allocation Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  MidCap Opportunities Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  American Funds Bond Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Opportunistic LargeCap Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  American Funds Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Principal Protection Fund VII</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  American Funds Growth-Income Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Principal Protection Fund VIII</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  American Funds International Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Principal Protection Fund IX</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  BlackRock Inflation Protected Bond Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Principal Protection Fund X</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  BlackRock Large Cap Growth Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Principal Protection Fund XI</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  BlackRock Large Cap Value Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Principal Protection Fund XII</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Capital Guardian U.S. Equities Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Real Estate Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Disciplined Small Cap Value Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  SmallCap Opportunities Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  EquitiesPlus Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  SmallCap Value Multi-Manager Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Evergreen Health Sciences Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Value Choice Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Evergreen Omega Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  FMR<sup>SM</sup> Diversified Mid Cap Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING FUNDS TRUST</font></u></b></h1>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Franklin Income Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Classic Money Market Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Franklin Mutual Shares Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GNMA Income Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Focus 5 Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  High Yield Bond Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Real Estate Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Institutional Prime Money Market Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Resources Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Intermediate Bond Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Technology Portfolio(1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  National Tax-Exempt Bond Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Under
the terms of the Management Agreement between ING Investors Trust and Directed
Services, LLC, the Fund is subject to a unified fee arrangement.&#160; Accordingly, the portion of SCAS Fees
allocated to the Fund under the Agreement will be borne directly by Directed Services,
LLC as provided in the Management Agreement.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='1',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ak.htm',USER='105540',CD='Jun 26 16:36 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="99%" style="border-collapse:collapse;width:99.42%;">
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Goldman Sachs Commodity Strategy Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING
  MUTUAL FUNDS</font></u></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Growth Opportunities Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Asia-Pacific Real Estate Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Janus Contrarian Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Disciplined International SmallCap Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  JPMorgan Emerging Markets Equity Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING<b>  </b>Emerging Countries Fund </font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  JPMorgan Small Cap Core Equity Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Emerging Markets Fixed Income Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  JPMorgan Value Opportunities Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  European Real Estate Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Julius Baer Foreign Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Foreign Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Legg Mason Value Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Bond Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Limited Maturity Bond Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Equity Dividend Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Liquid Assets Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Natural Resources Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Lord Abbett Affiliated Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Real Estate Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Marsico Growth Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Value Choice Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Marsico International Opportunities Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Greater China Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  MFS Total Return Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus International Equity Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  MFS Utilities Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Capital Appreciation Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Mid Cap Growth Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Equity Dividend Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Multi-Manager International Small Cap Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Growth Opportunities Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Oppenheimer Main Street Portfolio&#174;(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Real Estate Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  PIMCO Core Bond Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING<b>  </b>International SmallCap Multi-Manager Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  PIMCO High Yield Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Value Choice Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Pioneer Equity Income Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Value Opportunities Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Pioneer Fund Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Russia Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Pioneer Mid Cap Value Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Stock Index Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING
  PARTNERS, INC.</font></u></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  T. Rowe Price Capital Appreciation Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  American Century Large Company Value Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  T. Rowe Price Equity Income Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  American Century Small-Mid Cap Value Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Templeton Global Growth Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Baron Asset Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  UBS U.S. Allocation Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Baron Small Cap Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Van Kampen Capital Growth Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Columbia Small Cap Value II Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Van Kampen Global Franchise Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Davis New York Venture Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Van Kampen Growth and Income Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Fidelity<sup>&#174;</sup> VIP Contrafund<sup>&#174;</sup> Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Van Kampen Large Cap Growth Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Fidelity<sup>&#174;</sup> VIP Equity-Income Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Van Kampen Real Estate Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Fidelity<sup>&#174;</sup> VIP Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Index Plus International Equity Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Fidelity<sup>&#174;</sup> VIP Mid Cap Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Wells Fargo Disciplined Value Portfolio(1)</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  JPMorgan International Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Wells Fargo Small Cap Disciplined</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  JPMorgan Mid Cap Value Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Legg Mason Partners Aggressive Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Legg Mason Partners Large Cap Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING MAYFLOWER TRUST</font></u></b></h1>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Lord Abbett U.S. Government Securities Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Value Fund </font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Neuberger Berman Partners Portfolio</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ak.htm',USER='105540',CD='Jun 26 16:36 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="99%" style="border-collapse:collapse;width:99.42%;">
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Neuberger Berman Regency Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP International Value Portfolio </font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  OpCap Balanced Value Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP MidCap Opportunities Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Oppenheimer Global Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Real Estate Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Oppenheimer Strategic Income Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP SmallCap Opportunities Portfolio </font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  PIMCO Total Return Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Pioneer High Yield Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING GET FUND</font></u></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  T. Rowe Price Diversified Mid Cap Growth Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET Fund &#150; Series&nbsp;V</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  T. Rowe Price Growth Equity Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Templeton Foreign Equity Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING SERIES FUND, INC.</font></u></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Thornburg Value Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Brokerage
  Cash Reserves</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  UBS U.S. Large Cap Equity Portfolio </font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  130/30 Fundamental Research Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  UBS U.S. Small Cap Growth Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Balanced Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Van Kampen Comstock Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Disciplined Core Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Van Kampen Equity and Income Portfolio </font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Income Builder Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Global Science and Technology Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING PRIME RATE TRUST</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Growth and Income Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING RISK MANAGED NATURAL</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus MidCap Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOURCES FUND</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus SmallCap Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Money Market Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING SENIOR INCOME FUND</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Small Company Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Strategic Allocation Conservative Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING SEPARATE PORTFOLIOS TRUST</font></u></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Strategic Allocation Growth Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SPorts Core Fixed Income Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Strategic Allocation Moderate Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SPorts Core Plus Fixed Income Fund</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Tactical Asset Allocation Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING VARIABLE INSURANCE
  TRUST</font></u></b></h1>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING STRATEGIC ALLOCATION
  PORTFOLIOS, INC.</font></u></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio - Series&nbsp;1</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Strategic Allocation Conservative Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio - Series&nbsp;2</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Strategic Allocation Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio - Series&nbsp;3</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Strategic Allocation Moderate Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio - Series&nbsp;4</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio - Series&nbsp;5</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING VARIABLE FUNDS</font></u></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio - Series&nbsp;6</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Growth and Income Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio - Series&nbsp;7</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio - Series&nbsp;8</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING VARIABLE PORTFOLIOS,
  INC.</font></u></b></h1>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio - Series&nbsp;9</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  BlackRock Global Science and Technology Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio &#150; Series&nbsp;10</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Opportunistic LargeCap Growth Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio &#150; Series&nbsp;11</font></p>
  </td>
  <td width="19" valign="top" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Opportunistic LargeCap Value Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio &#150; Series&nbsp;12</font></p>
  </td>
  <td width="19" valign="top" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Index Plus LargeCap Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio &#150; Series&nbsp;13</font></p>
  </td>
  <td width="19" valign="top" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Index Plus MidCap Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="top" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GET U.S. Core Portfolio &#150; Series&nbsp;14</font></p>
  </td>
  <td width="19" valign="top" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Index Plus SmallCap Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Global Equity Dividend Portfolio</font></p>
  </td>
  <td width="19" valign="top" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Small Company Portfolio</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING WisdomTree<sup>SM</sup> Global High-Yielding</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING VARIABLE PRODUCTS
  TRUST</font></u></b></h1>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP Financial Services Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP High Yield Bond Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ak.htm',USER='105540',CD='Jun 26 16:36 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="99%" style="border-collapse:collapse;width:99.42%;">
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Equity Index Portfolio</font></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP BALANCED PORTFOLIO, INC.</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP INTERMEDIATE BOND</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">PORTFOLIO</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:uppercase;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="343" nowrap valign="bottom" style="padding:.95pt .95pt 0in .95pt;width:257.05pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  VP MONEY MARKET PORTFOLIO</font></b></p>
  </td>
  <td width="19" valign="bottom" style="padding:0in 0in 0in 0in;width:13.9pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="356" valign="bottom" style="padding:0in 0in 0in 0in;width:266.85pt;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ak.htm',USER='105540',CD='Jun 26 16:36 2008' -->




</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(J)(6)(I)
<SEQUENCE>8
<FILENAME>a08-11032_2ex99dbj6i.htm
<DESCRIPTION>EX-99.B(J)(6)(I)
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;99.B(j)(6)(i)</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-style:italic;"><img width="103" height="48" src="g110325ami001.jpg"></font></i></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">April&nbsp;28,
2008</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nick
Horvath</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DST
Systems,&nbsp;Inc.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">333
West 11th St., 5th Floor</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Kansas
City, Missouri 64105</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear
Mr.&nbsp;Horvath:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the Agency Agreement dated November&nbsp;30,
2000, as amended, between the Funds (as defined in the Agreement) and DST
Systems,&nbsp;Inc. (the &#147;Agreement&#148;), we hereby notify you of our intention to
retain you as Transfer Agent and Dividend Disbursing Agent to render such
services to </font><font size="2" style="font-size:10.0pt;">ING
Goldman Sachs Commodity Strategy Portfolio and ING Multi-Manager International
Small Cap Portfolio</font><font size="2" style="font-size:10.0pt;">, each a newly established series of ING Investors Trust,
effective April&nbsp;28, 2008 (the &#147;Portfolios&#148;) upon all of the terms and
conditions set forth in the Agreement.&#160;
Upon your acceptance, the Agreement will be modified to give effect to
the foregoing by adding the above-mentioned Portfolios to the <b><i><u style="font-style:italic;font-weight:bold;">Amended and Restated</u></i></b><u>
<b><i style="font-weight:bold;">Exhibit&nbsp;A</i></b></u>
of the Agreement. &#160;This <b><i><u style="font-style:italic;font-weight:bold;">Amended and Restated Exhibit&nbsp;A</u></i></b>
supersedes the previous <b><i><u style="font-style:italic;font-weight:bold;">Amended
and Restated Exhibit&nbsp;A</u></i></b> dated January&nbsp;31, 2008 and
is attached hereto.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The <b><i><u style="font-style:italic;font-weight:bold;">Amended and Restated Exhibit&nbsp;A</u></i></b> has </font><font size="2" style="font-size:10.0pt;">also been updated to reflect: 1) the name
changes of ING SmallCap Value Choice Fund to ING SmallCap Value Multi-Manager
Fund, ING Wells Fargo Mid Cap
Disciplined Portfolio to ING Wells Fargo Disciplined Value Portfolio, </font><font size="2" style="font-size:10.0pt;">ING FMR<sup>SM</sup>
Large Cap Growth Portfolio to ING Van Kampen Large Cap Growth Portfolio, ING
FMR<sup>SM</sup> Mid Cap Growth Portfolio to ING Mid Cap Growth Portfolio,</font><font size="2" style="font-size:10.0pt;"> and ING
International SmallCap Fund to ING International SmallCap Multi-Manager Fund; </font><font size="2" style="font-size:10.0pt;">2) by the removal of ING Investment Funds,&nbsp;Inc.
because ING MagnaCap Fund, the only series of this Corporation was recently
dissolved; 3) by the removal of ING MarketPro Portfolio, ING MarketStyle Growth Portfolio, ING
MarketStyle Moderate Growth Portfolio and ING MarketStyle Moderate Portfolio as
these portfolios recently liquidated and dissolved; 4) by the removal of ING Fundamental
Research Portfolio as this portfolio recently merged into ING VP Growth and
Income Portfolio.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please
signify your acceptance to act as Transfer Agent and Dividend Disbursing Agent
under the Agreement with respect to the Portfolios by signing below.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">Very sincerely,</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p align="left" style="letter-spacing:-.15pt;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:43.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Todd Modic</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in .7pt 0in .7pt;width:43.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Todd Modic</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in .7pt 0in .7pt;width:43.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Vice President</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0in .7pt 0in .7pt;width:43.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Investors Trust</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 3.5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ACCEPTED
AND AGREED TO:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DST Systems,&nbsp;Inc.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.2%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:43.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/
  Nick Horvath</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.2%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:43.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nick
  Horvath</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.2%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:43.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operations Officer</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="35%" valign="top" style="padding:0in .7pt 0in .7pt;width:35.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7337 E. Doubletree
  Ranch Rd.</font></p>
  </td>
  <td width="5%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:5.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tel: 480-477-3000</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:8.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in .7pt 0in .7pt;width:22.74%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Investors
  Trust</font></p>
  </td>
 </tr>
 <tr>
  <td width="35%" valign="top" style="padding:0in .7pt 0in .7pt;width:35.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Scottsdale, AZ
  85258-2034</font></p>
  </td>
  <td width="5%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:5.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fax: 480-477-2700</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:8.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in .7pt 0in .7pt;width:22.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="35%" valign="top" style="padding:0in .7pt 0in .7pt;width:35.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:5.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0in .7pt 0in .7pt;width:27.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">www.ingfunds.com</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:8.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in .7pt 0in .7pt;width:22.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-am.htm',USER='105325',CD='Jun 26 18:34 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">AMENDED
AND RESTATED EXHIBIT A</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<h3 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">with
respect to the</font></b></h3>

<h3 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h3>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">AGENCY AGREEMENT</font></b></h2>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">between</font></b></h2>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">THE FUNDS</font></b></h2>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">and</font></b></h2>

<h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DST
SYSTEMS, INC.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer/Fund&nbsp;Name</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:14.26%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Type&nbsp;of<br>
  Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:15.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">State&nbsp;of</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:13.76%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">I.D.&nbsp;No.</font></b></h4>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="15%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Corporate Leaders Trust
  Fund</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trust</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13-6061925</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Equity Trust</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Business Trust</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Massachusetts</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Equity Dividend Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1430152</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Financial Services Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">95-4020286</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Fundamental Research Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3735519</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Equity Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">86-1033467</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Equity Fund II</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">86-1039030</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Index Plus LargeCap Equity Fund III</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">86-1049217</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Plus
  LargeCap Equity Fund IV</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">82-0540557</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  LargeCap Growth Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33-0733557</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  LargeCap Value Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0437128</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING MidCap
  Opportunities Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-1522344</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Opportunistic LargeCap Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3736397</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal
  Protection Fund V</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27-0019774</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund VI</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">48-1284684</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund VII</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">72-1553495</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund VIII</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">47-0919259</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund IX</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0453800</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund X</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0584080</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund XI</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0639761</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund XII</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1420367</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund XIII</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1420401</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Principal Protection Fund XIV</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1420432</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;page-break-after:auto;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Real Estate Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-2867180</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  SmallCap Opportunities Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">04-2886856</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  SmallCap Value Multi-Manger Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2024826</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Value Choice Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2024800</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING
  Funds Trust</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Statutory Trust</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Delaware</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Classic Money Market Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-2978935</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  GNMA Income Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22-2013958</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='1',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-am.htm',USER='105325',CD='Jun 26 18:34 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer/Fund&nbsp;Name</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:14.26%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Type&nbsp;of<br>
  Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:15.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">State&nbsp;of</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:13.76%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">I.D.&nbsp;No.</font></b></h4>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  High Yield Bond Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-2978938</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Institutional Prime Money Market Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2990793</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  Intermediate Bond Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52-2125227</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  National Tax-Exempt Bond Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-2978941</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Investors Trust</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Business Trust</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Massachusetts</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  AllianceBernstein Mid Cap Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51-0380290</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American
  Funds Asset Allocation Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TBD</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American
  Funds Bond Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1124964</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American
  Funds Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55-0839555</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American
  Funds Growth-Income Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55-0839542</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American
  Funds International Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55-0839552</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING BlackRock
  Large Cap Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">02-0558346</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING BlackRock
  Large Cap Value Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">02-0558367</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING BlackRock
  Inflation Protected Bond Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-8798165</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Capital
  Guardian U.S. Equities Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-3027332</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Disciplined
  Small Cap Value Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-4411788</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING EquitiesPlus
  Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3606554</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Evergreen
  Health Sciences Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0573913</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Evergreen
  Omega Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0573935</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING FMR<sup>SM</sup>
  Diversified Mid Cap Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25-6725709</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen
  Large Cap Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1794099</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Mid Cap
  Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51-0380288</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Focus 5
  Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-0474637</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Franklin
  Income Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-4411383</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Franklin
  Mutual Shares Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-8798204</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Franklin
  Templeton Founding Strategy Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-8798288</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Real
  Estate Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3602480</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global
  Resources Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">95-6895627</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global
  Technology Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-3074142</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Goldman
  Sachs Commodity Strategy Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1780982</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Growth Opportunities Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-3074140</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Janus
  Contrarian Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-3054937</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan
  Emerging Markets Equity Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52-2059121</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan
  Small Cap Core Equity Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">02-0558352</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan
  Value Opportunities Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1794128</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Julius Baer
  Foreign Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">02-0558388</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Legg Mason
  Value Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-3054962</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-am.htm',USER='105325',CD='Jun 26 18:34 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer/Fund&nbsp;Name</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:14.26%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Type&nbsp;of<br>
  Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:15.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">State&nbsp;of</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:13.76%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">I.D.&nbsp;No.</font></b></h4>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle
  Conservative Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-0475378</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle
  Aggressive Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0573999</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle
  Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0573986</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle
  Moderate Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0573968</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING LifeStyle
  Moderate Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0573946</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Limited
  Maturity Bond Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">95-6895624</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Liquid
  Assets Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">95-6891032</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Lord Abbett
  Affiliated Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-3027331</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Marsico
  Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51-0380299</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Marsico
  International Opportunities Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1794156</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING MFS Total
  Return Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51-0380289</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING MFS
  Utilities Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2455961</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Multi-Manager
  International Small Cap Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-2151873</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Oppenheimer
  Main Street Portfolio&#174;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51-0380300</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PIMCO Core
  Bond Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51-0380301</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PIMCO High
  Yield Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">02-0558398</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Pioneer
  Equity Income Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-8642546</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Pioneer Fund
  Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1487161</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Pioneer Mid
  Cap Value Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1487187</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Stock Index
  Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55-0839540</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING T. Rowe
  Price Capital Appreciation Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">95-6895626</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING T. Rowe
  Price Equity Income Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">95-6895630</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Templeton
  Global Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51-0377646</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING UBS U.S.
  Allocation Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23-3054961</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen
  Capital Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">02-0558376</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen
  Global Franchise Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">02-0558382</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen
  Growth and Income Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13-3729210</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen
  Real Estate Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">95-6895628</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING VP Index
  Plus International Equity Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2990679</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Wells Fargo
  Disciplined Value Portfolio</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13-6990661</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Wells Fargo
  Small Cap Disciplined Portfolio</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3602389</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Mayflower Trust</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Business Trust</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Massachusetts</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Value Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-1472910</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING</font></b>  <b>Mutual Funds</b></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Statutory Trust</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Delaware</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Asia-Pacific
  Real Estate Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1095016</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Disciplined
  International SmallCap Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-5929531</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Diversified
  International Fund </font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3616995</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-am.htm',USER='105325',CD='Jun 26 18:34 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer/Fund&nbsp;Name</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:14.26%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Type&nbsp;of<br>
  Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:15.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">State&nbsp;of</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:13.76%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">I.D.&nbsp;No.</font></b></h4>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Emerging
  Countries Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33-0635177</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Emerging Markets Fixed Income Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3617319</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING European Real Estate Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1095315</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Foreign Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">72-1563685</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Bond
  Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-4966196</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global
  Equity Dividend Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55-0839557</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global
  Natural Resources Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13-2855309</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Real
  Estate Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">86-1028620</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Global Value
  Choice Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33-0552475</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Greater
  China Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3617281</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index Plus
  International Equity Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3617246</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Capital Appreciation Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3617270</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Equity Dividend Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-8798239</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Growth Opportunities Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22-3278095</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Real Estate Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3616901</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International SmallCap Multi-Manager Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33-0591838</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
  International Value Choice Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2024764</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING International
  Value Opportunities Fund</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-8279164</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Russia Fund</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22-3430284</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Partners,&nbsp;Inc.</font></b></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporation</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maryland</font></p>
  </td>
  <td width="2%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American
  Century Large Company Value</font> Portfolio</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52-2354157</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING American
  Century Small-Mid Cap Value</font> Portfolio</p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45-0467862</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Baron Asset
  Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3606546</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Baron Small
  Cap Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75-3023525</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Columbia
  Small Cap Value II Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3606562</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Davis New
  York Venture Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52-2354160</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Fidelity<sup>&#174;</sup>
  VIP Contrafund<sup>&#174;</sup> Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1351800</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Fidelity<sup>&#174;</sup>
  VIP Equity-Income Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1352142</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Fidelity<sup>&#174;</sup>
  VIP Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1352125</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Fidelity<sup>&#174;</sup>
  VIP Mid Cap Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1352148</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index
  Solution 2015 Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1752056</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index
  Solution 2025 Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1752116</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index
  Solution 2035 Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1752193</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index
  Solution 2045 Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1752971</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Index
  Solution Income Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-1753031</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan
  International Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-1496079</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING JPMorgan Mid
  Cap Value Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75-3023510</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Legg Mason
  Partners Aggressive Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-1496052</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-am.htm',USER='105325',CD='Jun 26 18:34 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer/Fund&nbsp;Name</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:14.26%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Type&nbsp;of<br>
  Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:15.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">State&nbsp;of</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:13.76%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">I.D.&nbsp;No.</font></b></h4>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Legg Mason
  Partners Large Cap Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51-0457738</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Lord Abbett
  U.S. Government Securities Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3606442</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Neuberger
  Berman Partners Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3606413</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Neuberger Berman
  Regency Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3606426</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING OpCap
  Balanced Value Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52-2354147</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Oppenheimer
  Global Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75-3023503</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Oppenheimer
  Strategic Income Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1544721</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING PIMCO Total
  Return Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75-3023517</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Pioneer High
  Yield Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3606502</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution
  2015 Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2456044</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution
  2025 Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">47-0951928</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution
  2035 Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2456104</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution
  2045 Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2456138</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution Growth and Income Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-0239049</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26-0239133</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Solution
  Income Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2456008</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING T. Rowe Price
  Diversified Mid Cap Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52-2354156</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING T. Rowe
  Price Growth Equity Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-1496081</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Templeton
  Foreign Equity Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3606522</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Thornburg
  Value Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-1496058</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING UBS U.S.
  Large Cap Equity Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-1496055</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING UBS U.S.
  Small Cap Growth Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-3736472</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen
  Comstock Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75-3023521</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Van Kampen
  Equity and Income Portfolio</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52-2354153</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Prime Rate Trust</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Business Trust</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Massachusetts</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">95-6874587</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING</font></b>  <b>Senior Income Fund</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Statutory Trust</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Delaware</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">86-1011668</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Separate Portfolios Trust</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Statutory Trust</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Delaware</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 8.2pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SPorts Core Fixed
  Income Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-8949559</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 8.2pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING SPorts Core Plus
  Fixed Income Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-8949653</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING</font></b><b> Variable Insurance Trust</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Statutory Trust</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Delaware</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S.
  Core Portfolio &#150; Series&nbsp;1</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">43-2007006</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S.
  Core Portfolio &#150; Series&nbsp;2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41-2107140</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S.
  Core Portfolio &#150; Series&nbsp;3</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32-0090501</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING GET U.S.
  Core Portfolio &#150; Series&nbsp;4</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32-0090502</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-am.htm',USER='105325',CD='Jun 26 18:34 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer/Fund&nbsp;Name</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:14.26%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Type&nbsp;of<br>
  Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:15.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">State&nbsp;of</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Organization</font></b></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
  <td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:13.76%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">Taxpayer</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;"><br>
  </font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:0pt;">I.D.&nbsp;No.</font></b></h4>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <h4 align="center" style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:0pt;">&nbsp;</font></b></h4>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;5</font></h4>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32-0090504</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;6</font></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32-0090505</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;7</font></h4>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">83-0403223</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;8</font></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1420513</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;9</font></h4>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-1420578</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;10</font></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2936139</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;11</font></h4>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2936166</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;12</font></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-2936189</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;13</font></h4>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-4949294</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING GET U.S. Core Portfolio &#150; Series&nbsp;14</font></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-5929257</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING VP Global Equity Dividend Portfolio</font></h4>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25-6705433</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">&nbsp;</font></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING Variable Products Trust</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Business Trust</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Massachusetts</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING VP Financial Services Portfolio</font></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">86-1028316</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING VP High Yield Bond Portfolio</font></h4>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-6396995</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING VP International Value Portfolio </font></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-6453493</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING VP MidCap Opportunities Portfolio</font></h4>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-6493760</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING VP Real Estate Portfolio</font></h4>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" style="padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20-0453833</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:49.48%;">
  <h4 style="font-weight:normal;letter-spacing:-.15pt;margin:0in 0in .0001pt 9.35pt;page-break-after:auto;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">ING VP SmallCap Opportunities Portfolio</font></h4>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:13.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">06-6397002</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='6',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-am.htm',USER='105325',CD='Jun 26 18:34 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(N)(1)
<SEQUENCE>9
<FILENAME>a08-11032_2ex99dbn1.htm
<DESCRIPTION>EX-99.B-(N)(1)
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;99.B(n)(1)</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[DECHERT LLP LETTERHEAD]</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;27, 2008</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Prime Rate Trust</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7337 East Doubletree
Ranch Road</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Scottsdale, Arizona&#160; 85258-2034</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.7%;">
  <p style="margin:0in 5.65pt .0001pt 0in;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in .7pt 0in .7pt;width:95.3%;">
  <p style="margin:0in 5.65pt .0001pt 0in;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Prime Rate
  Trust</font></p>
  </td>
 </tr>
 <tr>
  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.7%;">
  <p style="margin:0in 5.65pt .0001pt 0in;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="95%" valign="top" style="padding:0in .7pt 0in .7pt;width:95.3%;">
  <p style="margin:0in 5.65pt .0001pt 0in;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEC File Nos.
  333-61831, 811-05410</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 5.65pt .0001pt .3in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear
Ladies and Gentleman:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
hereby consent to all references to our firm in Post-Effective Amendment No.&nbsp;20
to the Registration Statement of ING Prime Rate Trust.&#160; In giving such consent, however, we do not
admit that we are within the category of persons whose consent is required by Section&nbsp;7
of the Securities Act of 1933, as amended, and the rules&nbsp;and regulations
thereunder.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Dechert LLP</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105546\08-11032-2\task3008067\11032-2-me.htm',USER='105546',CD='Jun 27 08:58 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(N)(2)
<SEQUENCE>10
<FILENAME>a08-11032_2ex99dbn2.htm
<DESCRIPTION>EX-99.B-(N)(2)
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;99.B(n)(2)</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Consent of Independent Registered Public Accounting Firm</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Board of Trustees </font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Prime Rate Trust</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We consent to the use of our
report dated February 29, 2008, incorporated herein by reference, and to the
references to our firm under the headings &#147;Financial Highlights&#148; in the
Prospectuses and &#147;Independent Registered Public Accounting Firm&#148; in the
Statement of Additional Information.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ KPMG LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Boston,
  Massachusetts</font></p>
  </td>
  <td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 26,
  2008</font></p>
  </td>
  <td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105577\08-11032-2\task3009513\11032-2-mg.htm',USER='105577',CD='Jun 27 23:08 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.B(R)(1)
<SEQUENCE>11
<FILENAME>a08-11032_2ex99dbr1.htm
<DESCRIPTION>EX-99.B(R)(1)
<TEXT>

<html>

<head>





</head>

<body lang="EN-US" style="text-justify-trim:punctuation">

<div>

<p align="right" style="color:blue;font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Exhibit&nbsp;99.B(r)(1)</font></b></p>

<p align="right" style="color:blue;font-weight:bold;line-height:normal;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CODE OF
ETHICS</font></b></p>

<p align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effective June 1, 2004 as amended on October 1, 2004, February 1, 2005
and January 3, 2006 </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">I.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">STATEMENT OF GENERAL PRINCIPLES</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">1</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">II.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">DEFINITIONS</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">2</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">III.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">GOVERNING LAWS, REGULATIONS AND PROCEDURES</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">8</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">IV.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CONFIDENTIALITY OF TRANSACTIONS</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">8</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">V.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">ETHICAL STANDARDS</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">9</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">A.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">INVESTMENT ACTIVITIES RELATED TO THE ING FUNDS OR MANAGED
  ACCOUNTS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">9</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">B.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">CONFLICTS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">9</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">C.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">OBLIGATION TO COMPLY WITH LAWS AND REGULATIONS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">10</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">D.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">SELECTION OF BROKER-DEALERS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">10</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">E.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">SUPERVISORY RESPONSIBILITY</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">10</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">F.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">ACCOUNTABILITY</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">10</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">VI.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXEMPTED TRANSACTIONS</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">11</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">VII.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">RESTRICTIONS ON PERSONAL INVESTING ACTIVITIES</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">12</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">A.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">GENERAL</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">12</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">B.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">RESTRICTIONS ON PURCHASE OF
  LIMITED OFFERINGS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">12</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">C.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">PRE-CLEARANCE</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">12</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">D.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">RESTRICTIONS ON PURCHASE OF INITIAL PUBLIC OFFERINGS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">13</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">E.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">BLACKOUT PERIODS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">13</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">F.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">BAN ON
  SHORT-TERM TRADING PROFITS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">G.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">GIFTS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">H.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">SERVICES
  AS A DIRECTOR</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">I.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">NAKED
  OPTIONS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">J.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">SHORT
  SALES</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">K.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">PERMITTED
  EXCEPTION</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">14</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">VIII.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">COMPLIANCE
  PROCEDURES</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">15</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">A.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">DISCLOSURE
  OF PERSONAL HOLDINGS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">15</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">B.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">DUPLICATE
  TRADE CONFIRMATION STATEMENTS AND ACCOUNT STATEMENTS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">15</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">C.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">QUARTERLY
  REPORTING</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">16</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">1)</font></i></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-style:italic;margin:0in 0in .0001pt 25.0pt;text-autospace:none;text-indent:-10.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Disinterested
  Directors</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">2)</font></i></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-style:italic;margin:0in 0in .0001pt 25.0pt;text-autospace:none;text-indent:-10.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">All Directors
  (both Disinterested and Interested)</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">3)</font></i></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-style:italic;margin:0in 0in .0001pt 25.0pt;text-autospace:none;text-indent:-10.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Access Persons</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">4)</font></i></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-style:italic;margin:0in 0in .0001pt 25.0pt;text-autospace:none;text-indent:-10.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exclusions</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">D.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">CERTIFICATION
  OF COMPLIANCE WITH CODE OF ETHICS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">17</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">IX.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">TRANSACTIONS IN ING
  FUND SHARES</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">18</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">A.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">APPLICABILITY
  OF ARTICLE IX</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">18</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">B.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">COMPLIANCE
  WITH PROSPECTUS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">18</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">C.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">DISINTERESTED
  DIRECTORS /TRUSTEES/CONSULTANTS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">18</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">D.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">ALL
  TRANSACTIONS REQUIRED TO BE THROUGH AN APPROVED PLAN OR CONTRACT</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">18</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">E.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">30-DAY
  HOLDING PERIOD FOR ING FUND SHARES.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">19</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">F.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">REPORTING
  OF TRANSACTIONS IN ING FUND SHARES</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">19</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">G.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">REPORTING OF HOLDINGS AND TRANSACTIONS IN SHARES OF FUNDS
  MANAGED BY AFFILIATED ADVISERS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">20</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">H.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">QUESTIONS TO ING INVESTMENTS COMPLIANCE DIRECTOR</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">20</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">I.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">REVIEW BY ING INVESTMENTS COMPLIANCE DIRECTOR</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">20</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">J.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">MINIMUM SANCTIONS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">20</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='i',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">X.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">SANCTIONS</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">20</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">A.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">GENERALLY</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">20</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">B.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">PROCEDURES</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">21</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">XI.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">MISCELLANEOUS PROVISIONS</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">21</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">A.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">RECORDS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">21</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">B.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">CONFIDENTIALITY</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">22</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">C.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">INTERPRETATION OF PROVISIONS</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">23</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">D.</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">EFFECT OF VIOLATION OF THIS CODE</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">23</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;font-variant:normal !important;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">XII.</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBITS</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">1</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT A</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">1</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Procedures
  to Control the Flow and Use of Material Non-Public Information in Connection
  With Securities Activities</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT B</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">3</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Designated
  Persons of ING Investments Able to Provide Pre-clearance</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT C-1</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">4</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sample
  Letter to Brokerage Firm</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT C-2</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">5</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sample
  Letter to Brokerage Firm</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT D</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">6</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Annual
  Certification by All Covered Persons and Directors</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT E</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">7</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certification
  Regarding Exemption From Certain Reporting Requirements Of The Code Of Ethics</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT F</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">9</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="95%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-weight:bold;margin:0in 0in .0001pt;text-align:right;text-autospace:none;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></i></p>
  </td>
  <td width="89%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:89.5%;">
  <p style="font-style:italic;margin:0in 0in .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">Initial
  Certification of Code Of Ethics Compliance</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.66%;">
  <p align="right" style="font-style:italic;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></i></p>
  </td>
 </tr>
 <tr height="0">
  <td width="44" style="border:none;"></td>
  <td width="11" style="border:none;"></td>
  <td width="658" style="border:none;"></td>
  <td width="35" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='ii',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="color:black;font-size:10.0pt;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">I.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:windowtext;text-transform:none;">STATEMENT OF GENERAL PRINCIPLES</font></p>

<p align="left" style="color:black;font-size:10.0pt;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><font color="black" style="color:windowtext;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of (i)&nbsp;the
ING Funds (as defined in Section&nbsp;II and this Code, and which includes ING
Partners,&nbsp;Inc. (&#147;IPI Fund&#148;)), (ii)&nbsp;ING Life Insurance and Annuity
Company (&#147;ILIAC&#148;), a registered investment adviser under the Investment
Advisers Act of 1940, as amended (&#147;Advisers Act&#148;), which serves as the
investment adviser for the IPI Fund, (iii)&nbsp;ING Financial Advisers (&#147;IFA&#148;),
a registered broker-dealer under the Securities Exchange Act of 1934, as
amended (&#147;the Exchange Act&#148;), which serves as the principal underwriter for the
IPI Fund, (iv)&nbsp;ING Investments, LLC (&#147;ING Investments&#148;), a registered
investment adviser under the Advisers Act, which serves as the investment
adviser for the ING Funds other than the IPI Fund, and (v)&nbsp;ING Funds
Distributor, LLC. (&#147;IFD&#148;), a registered broker-dealer under the Exchange Act,
which serves as the principal underwriter for the ING Funds other than the IPI
Fund (hereinafter, ILIAC, ING Investments, IFA and IFD, are collectively
referred to as &#147;Fund Affiliates&#148;) hereby adopt this Code of Ethics
(hereinafter, &#147;Code&#148;), pursuant to Section&nbsp;17(j)&nbsp;of the Investment
Company Act of 1940, as amended (the &#147;1940 Act&#148;) and Rule&nbsp;17j-1
promulgated thereunder by the Securities and Exchange Commission (&#147;SEC&#148;) and Rule&nbsp;204A-1
under the Advisers Act.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In general, Rule&nbsp;204A-1 requires all
registered investment advisers to establish a written code of ethics. The code
must include, among other things, a standard of business conduct that reflects
the adviser&#146;s fiduciary obligations as well as provisions requiring the adviser&#146;s
Supervised Persons to comply with applicable Federal Securities Laws. Rule&nbsp;17j-1
imposes an obligation on registered investment companies, investment advisers
and principal underwriters to adopt written codes of ethics covering the
securities activities of certain directors, trustees, officers, Access Persons
and Employees. This Code is designed to ensure that: (i)&nbsp;Access Persons
and Employees do not use information concerning clients&#146; portfolio securities
activities for their personal benefit or to the detriment of such clients and (ii)&nbsp;Access
Persons and Employees of the ING Funds and the Fund Affiliates do not engage in
improper trading of shares of the ING Funds or of other funds for which an
Affiliated Adviser serves as adviser or sub-adviser . A sub-adviser of any ING
Fund (and the sub-adviser&#146;s Access Persons and Employees) shall be subject to
this Code unless the board of directors/trustees of that ING Fund (each a &#147;Board&#148;)
has approved a separate code of ethics for that sub-adviser (a &#147;Sub-Adviser
Code&#148;). In that case, such sub-adviser and all Access Persons of such ING Fund
that are officers, directors or Employees of such sub-adviser shall be subject
to the terms of the relevant Sub-Adviser&#146;s Code in lieu of the terms of this
Code. In reviewing and approving a Sub-Adviser Code, a Board shall, in addition
to making the findings required by Rule&nbsp;17j-1, consider whether the
Sub-Adviser Code has provisions reasonably designed to detect and deter
improper trading by the Sub-Adviser&#146;s Employees in shares of the portfolio of
the relevant ING Fund(s). It is not the intention of this Code to prohibit
personal securities activities by Access Persons and Employees, but rather to
prescribe rules&nbsp;designed to prevent actual and apparent conflicts of
interest. While it is not possible to define and prescribe all-inclusive rules&nbsp;addressing
all possible situations in which conflicts may arise, this Code sets forth the
policies of the ING Funds and Fund Affiliates regarding conduct in those
situations in which conflicts are most likely to develop.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='1',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rule&nbsp;17j-1(b)(1)-(4)&nbsp; specifically
states<i>:</i></font></u></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is unlawful for any affiliated person of
or principal underwriter for a Fund, or any affiliated person of an investment
adviser of or principal underwriter for a Fund, in connection with the purchase
or sale, directly or indirectly, by the person of a Security Held or to be
Acquired by the Fund:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
employ any device, scheme or artifice to defraud the Fund;</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
make any untrue statement of a material fact to the Fund or omit to state a
material fact necessary in order to make the statements made to the Fund, in light
of the circumstances under which they are made, not misleading;</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
engage in any act, practice or course of business that operates or would
operate as a fraud or deceit on the Fund; or</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
engage in any manipulative practice with respect to the Fund.</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In discharging
his or her obligations under the Code, every Supervised Person, Access Person
and Employee should adhere to the following general fiduciary principles
governing personal investment activities:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Every
Supervised Person, Access Person or Employee shall at all times scrupulously
place the interests of the Funds&#146; shareholders and advisory clients ahead of
his or her own interests with respect to any decision relating to personal
investments.</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No
Supervised Person, Access Person or Employee shall take inappropriate advantage
of his or her position with a Fund, or with the Fund Affiliates as the case may
be, by using knowledge of any Fund&#146;s or Managed Account&#146;s transactions to his
or her personal profit or advantage.</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Every
Supervised Person, Access Person and Employee shall at all times conform to the
&#147;Policies and Procedures to Control the Flow and Use of Material Non-Public
Information In Connection With Securities Activities&#148;, a copy of which is
attached and is incorporated by reference into this Code.</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Code does not attempt to identify all
possible conflicts of interest, and literal compliance with each of its
specific provisions will not shield Supervised Persons, Access Persons or
Employees from liability for personal trading or other conduct that violates a
fiduciary duty to advisory clients.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="color:black;font-size:10.0pt;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">II.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:windowtext;text-transform:none;">DEFINITIONS</font></p>

<p align="left" style="color:black;font-size:10.0pt;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><font color="black" style="color:windowtext;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Code defines directors, officers and
Employees of the ING Funds and Fund Affiliates into several categories, and
imposes varying requirements by category appropriate to the sensitivity of the
positions included in the category. As used herein and unless otherwise
indicated, the following terms shall have the meanings set forth below.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:27.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Access
Persons&#148;:</font></b>&#160;
includes:</p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:27.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any
Advisory Person of the ING Funds or the Advisers;</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>all
of the&#160; directors, trustees, officers and
general partners of ING Investments or the ING Funds are presumed to be Access,
unless otherwise determined by&#160; the
Compliance Director,</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any
of the Advisers&#146; Supervised Persons (as defined below):</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">a.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>who
has access to nonpublic information regarding any clients&#146; purchase or sale of
securities, or non-public information regarding the portfolio holdings of any
fund advised by the Advisers or any Affiliated Adviser, or</p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">b.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>who
is involved in making securities recommendations to clients, or who has access
to such recommendations that are non-public; and</p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any
director or officer of IFD or IFA who, in the ordinary course of business,
makes, participates in or obtains information regarding the purchase or sale of
Securities by the ING Funds or Managed Accounts, or whose functions or duties
in the ordinary course of business relate to the making of any recommendation
to the Funds or Managed Accounts regarding the purchase or sale of Securities.</p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
definition includes, but is not limited to, the following individuals:&#160; Portfolio Managers, Investment Personnel,
certain Employees in Operations, all Employees in Marketing, the Finance
department, Information Systems, Accounting/Compliance Department, Legal
Counsel, Legal Administration and Executive Management and their support staff
members, as such individuals are defined by the Company&#146;s Human Resource
Department.</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Advisers&#148;:</font></b>&#160; ING Investments, ILIAC and any sub-advisers
subject to this Code.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Advisory
Person&#148;:</font></b>&#160;
includes any director, trustee, officer, general partner, or Employee of
the ING Funds or the Advisers (or of any company in a Control relationship to
the Fund or the Advisers) who, in connection with his or her regular functions
or duties, makes, participates in or obtains information regarding the purchase
or sale of Securities by the Funds or Managed Accounts, or whose functions
relate to the making of any recommendations with respect to such purchases or
sales. This term also includes any natural persons in a Control relationship
with the Fund or investment adviser who obtains information concerning
recommendations made to the Fund regarding the purchase or sale of Securities.<b>  </b>This definition also includes Shared
Employees.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Affiliated
Advisers&#148;:&#160; </font></b>means any adviser who is an affiliated
person, as defined under section 2(a)(3)&nbsp;of the 1940 Act, with ING
Investments or ILIAC.<b>  </b>A list of
current ING Affiliated Advisers may be found at P:/Everyone/Compliance/Affiliated
Advisers.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Automatic
Disgorgement&#148;:</font></b>&#160;
where a violation results from a transaction which can be reversed prior
to settlement such transaction should be reversed, with the cost of the
reversal being borne by the Covered Person; or if reversal is impractical or
impossible, then any profit realized on such short-term investment, net of
brokerage commissions but before tax effect, shall be disgorged to the
appropriate ING Fund or Managed Account, or if no ING Fund or Managed Account
is involved then to a charity designated by the relevant Advisers. Exceptions
may be granted on a case by case basis by the Compliance Director when no abuse
is involved and the equities of the situation strongly support an exception.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Automatic
Investment Plan&#148;:</font></b>&#160;
means a program in which regular periodic purchases (or withdrawals) are
made automatically in (or from) investment accounts in accordance with a
predetermined schedule and allocation. An Automatic Investment Plan includes a
dividend reinvestment plan.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Being
Considered for Purchase or Sale&#148;:</font></b>&#160; means, with respect to any Security, that a
recommendation to purchase or sell such Security has been made and communicated
or, with respect to the person making the recommendation, such person seriously
considers making such recommendation.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Beneficial
Ownership&#148;:</font></b>&#160;
generally has the same meaning as under Section&nbsp;16 of the Exchange
Act and Rule&nbsp;16a-1(a)(2)&nbsp;under the Act, as having or sharing,
directly or indirectly, through any contract arrangement, understanding, legal,
marital or co-habitation relationship, or otherwise, a direct or indirect &#147;pecuniary
interest&#148; in the security.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Pecuniary
interest&#148; means the opportunity, directly or indirectly, to profit or share in
any profit derived from a transaction in securities.</p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Indirect
pecuniary interest&#148; includes, but is not limited to: (a)&nbsp;a general partner&#146;s
proportionate interest in portfolio securities held by a general or limited
partnership; (b)&nbsp;a person&#146;s right to dividends that is separated or
separable from the underlying securities (otherwise, a right to dividends alone
will not constitute a pecuniary interest in securities); (c)&nbsp;a person&#146;s
interest in securities held by a trust; (d)&nbsp;a person&#146;s right to acquire
securities through the exercise or conversion of any derivative security,
whether or not presently exercisable; and (e)&nbsp;a performance-related fee,
other than an asset based fee, received by any broker, dealer, bank, insurance
company, investment company, investment manager, trustee, or person or entity
performing a similar function, with certain exceptions.</p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>A
person&#146;s Beneficial Ownership interest ordinarily extends to securities held in
the name or for the benefit of (a)&nbsp;a spouse, minor children, or
significant other, (b)&nbsp;another relative resident in the Covered Person&#146;s
home, or (c)&nbsp;an unrelated person in circumstances that suggest a sharing
of financial interests, such as when the Covered Person makes a significant
contribution to the financial support of the unrelated person (or vice versa)
or they share in the profits of each other&#146;s securities transactions. &#147;Significant
others&#148; are two people who share the same primary residence, share living
expenses, and are in a committed </p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">relationship
in which they intend to remain indefinitely. For interpretive purposes, a
person who resides with the Covered Person and is referred to as the &#147;boyfriend&#148;
or &#147;girlfriend&#148; of the Covered Person would be presumed to be a significant
other, while a person referred to as the Covered Person&#146;s &#147;roommate&#148; would not,
absent a demonstration to the contrary. Any questions about whether a
particular person is covered in the definition of Beneficial Ownership should
be directed to the Compliance Director.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Important Note</font></u>:</i>&#160; Covered Persons are reminded that all
information about the ING Funds&#146; research on companies or their securities
prepared by the Advisers or Fund Affiliates which they acquire in their capacity
as Employees or Access Persons is proprietary and confidential to the Funds and
the Fund affiliates, and communication of this information to friends, family,
or any other individual is strictly prohibited, regardless of any determination
of Beneficial Ownership under this provision.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Control&#148;:</font></b>&#160; shall have the same meaning as that set forth
in Section&nbsp;2(a)(9)&nbsp;of the 1940 Act. Under Section&nbsp;2(a)(9), &#147;Control&#148;
means the power to exercise a controlling influence over the management or
policies of a company, unless such power is solely the result of an official
position with such company.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2(a)(9)&nbsp;includes
a rebuttable presumption that a person who owns beneficially, either directly
or through one or more Controlled companies, more than 25% of the voting
securities of a company Controls that company and any person who does not so
own more than 25% of the company&#146;s voting securities does not Control the
company. Natural persons are presumed not to be Controlled persons.</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Covered
Person&#148;:&#160; </font></b>means<b>  </b>any
person subject to the Code, which includes those persons defined as an Access
Person or Employee and their Related Persons. This does not include Employees
of ILIAC who are not Access Persons as defined above.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Designated
Person&#148;:</font></b>&#160; means
the relevant entity&#146;s Chief Compliance Officer (&#147;CCO&#148;) or a member of the CCO&#146;s
staff (or other appropriate individual) appointed as such.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Disinterested
Director&#148;:</font></b>&#160;
means a director/trustee of the ING Funds who is not an &#147;interested
person&#148; of the ING Funds within the meaning of Section&nbsp;2(a)(19) of the
1940 Act.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Employee&#148;:
</font></b>&#160;means any
employee of the ING Funds or a Fund Affiliate as defined in the first paragraph
of Article&nbsp;I &#150; Statement of General Purpose, including any Supervised
Persons of the Advisers. However, notwithstanding the foregoing, the term
Employee (for purposes of this Code) shall not include any employee of ILIAC
who (i)&nbsp;is not involved, directly or indirectly, with ILIAC&#146;s investment
advisory activities and (ii)&nbsp;does not have access to non-public information
about such activities.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#160;&#147;Federal Securities Laws&#148;</font></b><b>:</b>&#160; means (i)&nbsp;the
Securities Act of 1933, as amended; (ii)&nbsp;the Securities Exchange Act of
1934, as amended; (iii)&nbsp;the Sarbanes-Oxley Act of 2002; (iv)&nbsp;the
Investment Company Act of 1940, as amended, (v)&nbsp;the Investment Advisers
Act of 1940, as amended; (vi)&nbsp;title V of the Gramm-Leach-Bliley Act; (vii)&nbsp;any
rules&nbsp;adopted by the SEC </p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">under the
foregoing statutes; (viii)&nbsp;the Bank Secrecy Act, as it applies to funds
and investment advisers; and (ix)&nbsp;any rules&nbsp;adopted under relevant
provisions of the Bank Secrecy Act by the SEC or the Department of the
Treasury.</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Fund
Affiliates&#148;</font></b>:&#160;
means ILIAC, ING Investments, IFA and IFD.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;ING
Funds&#148;</font></b><b>:</b>&#160; means investment companies registered under
the 1940 Act for which ING Investments, ILIAC or Directed Services,&nbsp;Inc.
serve as the investment adviser (not including service only in the capacity of
sub-adviser). It encompasses both the ING retail funds and the variable portfolios.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;<b>&#147;ING
Insurance Company&#148;</b><b>:</b>&#160; means any US domiciled insurance company that
is part of the business unit known as ING USFS.</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Investment
Personnel&#148;:</font></b>&#160;
includes any Advisory Person who makes, participates in or obtains
information concerning recommendations regarding the purchase or sale of
Securities by the ING Funds or Managed Accounts or any natural person in a
Control relationship to the ING Fund or Advisers who obtains information
regarding the purchase or sale of Securities by the ING Funds or Managed
Accounts and includes the following individuals: all Portfolio Managers of the
ING Funds and Managed Accounts, the Portfolio support staff and traders who
provide information and advice to any such Portfolio Managers or who assist in
the execution of such Portfolio Managers&#146; decisions and all Finance Department
staff of the Advisers.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Managed
Accounts&#148;:&#160; </font></b>means any account advised by ING
Investments or ILIAC other than a registered investment company.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Personal
Securities Holdings&#148; or &#147;Personal Securities Transactions&#148;:</font></b>&#160; means, with respect to any person, any
Security Beneficially Owned, or any Security purchased or otherwise acquired,
or sold or otherwise disposed of by such person, including any Security in
which such person has, or by reason of such transaction acquires or disposes
of, any direct or indirect Beneficial Ownership in such Security, and any
account over which such person has discretion; provided, however, that such
terms shall not include any holding or transaction in a Security held in or
effectuated for an account over which such person does not have any direct or
indirect influence and has certified <strong style="letter-spacing:0pt;"><b style="font-weight:normal;">these
facts</b></strong> to the&#160;
Compliance Director, in a manner satisfactory to the Compliance
Director, and updates this certification annually<strong style="letter-spacing:0pt;"><b>  </b></strong><strong style="letter-spacing:0pt;"><b style="font-weight:normal;">and as long as all holdings and
transactions in the account are reported in accordance with the provisions of Article&nbsp;VII.A.
(Disclosure of Personal Holdings) and Article&nbsp;VIII.B (Duplicate Trade
Confirmation Statements and Account Statements). </b></strong>Personal
Securities Transactions shall include all Securities or commodity interests
regardless of the dollar amount of the transaction or whether the sale is in
response to a tender offer.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Portfolio
Manager&#148;:</font></b>&#160; means
any Employee of an ING Fund or the Advisers who is entrusted with the direct
responsibility and authority to make investment decisions affecting an ING Fund
or Managed Account, and who, therefore, may be best informed about such ING
Fund&#146;s or Managed Account&#146;s investment plans and interests.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='6',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Related
Persons&#148;:</font></b>&#160;
persons in whose holdings or transactions an Access Person or Employee
has a Beneficial Ownership interest.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Security&#148;:</font></b>&#160; includes any note, stock, treasury stock,
bond, debenture, evidence of indebtedness, certificate of interest or
participation in any profit-sharing agreement, collateral-trust certificate,
pre-organization certificate or subscription, transferable share, investment
contract, voting-trust certificate, certificate of deposit for a security,
fractional undivided interest in oil, gas or other mineral rights, any put,
call, straddle, option, or privilege on any security (including a certificate
of deposit) or on any group or index of securities, or any put, call, straddle,
option or privilege entered into on a national securities exchange relating to
foreign currency. Securities also includes shares of closed-end investment
companies, various derivative instruments such as ELKs<font face="Symbol">&#228;</font>,
LEAPs<font face="Symbol">&#228;</font> and PERCs<font face="Symbol">&#228;</font>,
exchange traded funds such as SPDR&#146;s<font face="Symbol">&#228;</font>, CUBE&#146;s<font face="Symbol">&#228;</font>,
WEB&#146;s<font face="Symbol">&#228;</font>, HOLDR&#146;s<font face="Symbol">&#228;</font>,
iShare&#146;s<font face="Symbol">&#228;</font>, Viper&#146;s<font face="Symbol">&#228;</font>
and Diamonds<font face="Symbol">&#228;</font>, limited partnership interests and private
placement common or preferred stocks or debt instruments. Commodity interests<b>, </b>which includes futures contracts, and
options on futures, or any other type of commodity interest which trades on any
exchange, shall also be included in this Code&#146;s definition of Security. Commodity
interests in agricultural or industrial commodities, such as agricultural
products or precious metals, are not covered under this Code. Security includes
any certificate or interest, participation in, temporary or interim certificate
for, receipt for, guarantee of or warrant or right to subscribe to or
purchase,&#160; any of the foregoing.</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Security does
not include shares of U.S. registered open-end investment companies that are
not managed by an Affiliated Adviser, direct obligations of the U.S.
government, bankers&#146; acceptances, bank certificates of deposit and time
deposits, commercial paper and high quality short-term debt instruments including
repurchase agreements, shares issued by money market funds (including those
which are managed by an Affiliated Adviser), and such other money market
instruments as designated by the board of directors/trustees of such Fund, and
shares issued by unit investment trusts that are invested exclusively in one or
more open-end funds, none of which are managed by an Affiliated Adviser.</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Security
held or to be acquired&#148;</font></b> by an ING Fund or for a
Managed Account means:</p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any
Security which, within the most recent fifteen (15) days,</p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 113.75pt;text-align:left;text-autospace:none;text-indent:-.2in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>is or has been held
by such ING Fund or Managed Account, or</p>

<p align="left" style="margin:0in 0in .0001pt 1.5in;text-align:left;text-autospace:none;text-indent:-9.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 113.75pt;text-align:left;text-autospace:none;text-indent:-.2in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>is being or has been
considered by such ING Fund or&#160; Managed
Account for purchase for such ING Fund or Managed Account</p>

<p align="left" style="margin:0in 0in .0001pt 1.5in;text-align:left;text-autospace:none;text-indent:-9.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any
option to purchase or sell, and any security convertible into or exchangeable
for a Security described in paragraph (A)&nbsp;above.</p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Shared
Employee&#148;:&#160; </font></b>means<b>  </b>any
Employee who is an Employee of a Fund Affiliate and is also an Employee of
another ING Funds&#146; sub-adviser, by virtue of a Shared Employee arrangement or
other writing and is subject to a Sub-Adviser Code approved by the Board of the
relevant ING Funds.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='7',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-01.htm',USER='105325',CD='Jun 26 18:16 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#147;Supervised
Persons&#148;:</font></b><font size="2" style="font-size:10.0pt;">&#160; means any
partner, officer, director (or other person occupying a similar status or
performing similar functions), or Employee of the Adviser, or other person who
provides investment advice on behalf of the Adviser and is subject to the
supervision and Control of the Adviser. However, notwithstanding the foregoing,
the term Supervised Person (for purposes of this Code) shall not include any
supervised person, as that term is defined by Section&nbsp;202(a)(25) of the
Advisers Act, of ILIAC who (i)&nbsp;is not involved, directly or indirectly,
with ILIAC&#146;s investment advisory activities and (ii)&nbsp;does not have access
to non-public information about such activities.</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">III.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">GOVERNING LAWS,
REGULATIONS AND PROCEDURES</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All
Employees shall have and maintain reasonable and appropriate knowledge of and
shall comply strictly with the Federal Securities Laws and any other<b>  </b>applicable federal and state laws, and rules&nbsp;and
regulations of any governmental agency or self-regulatory organization
governing his or her activities such as discussed in the policies and
procedures manuals of ING Investments, ING Fund Distributor, ILIAC or IFA.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Every
Employee will be given a copy of the Code of Ethics at the time of his or her
employment and is required to submit a statement, at least annually, that he or
she has reviewed the Code and is familiar with its content.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each
Employee shall comply with all laws and regulations relating to the use of
material non-public information. Trading on &#147;inside information&#148; of any sort, whether
obtained in the course of research activities, through a client relationship or
otherwise, is strictly prohibited. All Employees shall comply strictly with
procedures established by the ING Funds and the Advisers to ensure compliance
with applicable federal and state laws and regulations of governmental agencies
and self-regulatory organizations. Employees shall not knowingly participate
in, assist, or condone any acts in violation of any statute or regulation
governing securities matters or any act in violation of any provision of this
Code or any rules&nbsp;adopted thereunder.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each
Employee having supervisory responsibility shall exercise reasonable
supervision over Employees subject to his or her Control with a view to
preventing any violation by such of the provisions of the Code.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any
Employee encountering evidence that acts in violation of applicable statutes or
regulations or provisions of the Code of Ethics have occurred shall report such
evidence to the Compliance Director or a Designated Person or the Board of each
ING Fund.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employees
must inform the Compliance Director if they ever become the subject of external
investigations.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">IV.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">CONFIDENTIALITY OF
TRANSACTIONS</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All
information relating to any ING Fund or Managed Account portfolio or pertaining
to any studies or research activity is confidential until publicly available. Whenever
statistical </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='8',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-03.htm',USER='105540',CD='Jun 26 16:54 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">information
or research is supplied to or requested by the ING Funds or Managed Accounts,
such information must not be disclosed to any persons other than persons
designated by the Designated Person or the Board of the ING Fund or the
Advisers. If an ING Fund or Managed Account is considering a particular
purchase or sale of a Security, this must not be disclosed except to such duly
authorized persons.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any
Employee authorized to place orders for the purchase or sale of Securities on
behalf of an ING Fund or Managed Account shall take all steps reasonably
necessary to provide that all brokerage orders for the purchase and sale of
Securities for the account of the ING Fund or Managed Account, will be so
executed as to ensure that the nature of the transactions shall be kept
confidential until the information is reported to the SEC or each ING Fund&#146;s
shareholders or the holders of the Managed Account in the normal course of
business.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If
any Employee or Access Person should obtain information concerning the ING Fund&#146;s
or Managed Account&#146;s portfolio (including consideration of acquiring or
recommending any Security for such portfolios), whether in the course of such
person&#146;s duties or otherwise, such person shall respect the confidential nature
of this information and shall not divulge it to anyone unless it is properly
part of such person&#146;s services to the ING Fund or Managed Accounts to do so or
such person is specifically authorized to do so by the Designated Person of the
Fund or Managed Accounts. No Access Person or Employee shall disclose any
non-public information relating to a client&#146;s portfolio or transactions or to
the investment research or recommendations of the Advisers, nor shall any
Access Person or Employee disclose any non-public information relating to the
business or operations of the ING Funds, Fund Affiliates or Managed Accounts
unless properly authorized to do so.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">V.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">ETHICAL STANDARDS</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment
Activities Related to the ING Funds or Managed Accounts</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All Access Persons, in
making any investment recommendations or in taking any investment action, shall
exercise diligence and thoroughness, and shall have a reasonable and adequate
basis for any such recommendations made or actions taken.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conflicts</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All Access Persons and
Employees shall conduct themselves in a manner consistent with the highest
ethical standards. They shall avoid any action, whether for personal profit or
otherwise, that results in an actual or potential conflict of interest, with an
ING Fund or Managed Account, or which may otherwise be detrimental to the
interest of an ING Fund or Managed Account. No Access Person or Employee shall
undertake to manage money for compensation in competition with the ING Funds or
Managed Accounts.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Every Employee or Access
Person who owns beneficially, directly or indirectly, &#189; of 1% or more of the
stock of any corporation is required to report such holdings to the President
of the ING Funds and the Compliance Director.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='9',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-03.htm',USER='105540',CD='Jun 26 16:54 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Obligation
to Comply with Laws and Regulations</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Every Access Person shall
acquire and maintain reasonable and appropriate knowledge of, and shall comply
strictly with, all applicable federal and state laws and all rules&nbsp;and
regulations of any governmental agency or self-regulatory organization
governing such Access Person&#146;s activities. In addition, every Access Person
shall comply strictly with all procedures established by the Funds or Fund
Affiliates to ensure compliance with such laws and regulations. Access Persons
shall not knowingly participate in, assist or condone any acts in violation of
any law or regulation governing Securities transactions, nor any act that would
violate any provision of this Code.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Selection
of Broker-Dealers</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any Employee or Access
Person having discretion as to the selection of broker-dealers to execute
transactions in securities for the ING Funds or Managed Accounts shall select
broker-dealers solely on the basis of the services provided directly or
indirectly by such broker-dealers as provided in the relevant ING Fund&#146;s
registration statement, Managed Account contract or Adviser ADV. An Employee shall
not directly or indirectly, receive a fee or commission from any source in
connection with the sale or purchase of any Security for an ING Fund or Managed
Account.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, Employees shall
take all actions reasonably calculated to ensure that they engage
broker-dealers to transact business with each ING Fund or Managed Account whose
partners, officers and Employees, and their respective affiliates, will conduct
themselves in a manner consistent with the provisions of this Article&nbsp;V.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Supervisory
Responsibility</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Every Access Person or
Employee having supervisory responsibility shall exercise reasonable
supervision over those persons subject to his or her Control in order to
prevent any violation by such persons of applicable laws and regulations, procedures
established by the ING Funds or Fund Affiliates, as the case may be, or the
provisions of this Code.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accountability</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reports of Possible
Violations - Any Access Person or Employee (including all Supervised Persons)
encountering evidence of any action in violation of the provisions of this Code
shall report such evidence to the ING Investments Compliance Director.
Employees may convey concerns about ING business matters that they believe
implicate matters of ethics or questionable practices to the Compliance
Director. The Compliance Director may assign a Designated Person to investigate
matters brought to his or her attention. The Compliance Director will report
such matters to the ING Funds&#146; and ING Investments&#146; and ILIAC&#146;s Chief
Compliance Officers quarterly. ING Funds Chief Compliance Officer, using his or
her discretion, may report such matters to the ING Funds&#146; Disinterested
Directors. If, as a result of fiduciary obligations to other persons or
entities, an Access Person believes that he or she is unable to comply with
certain provisions of this Code, such Access Person shall so advise the
Designated Person of any ING Fund or the Advisers, for which such person is an
Access Person in writing and shall set forth with reasonable specificity the nature
of his or her fiduciary obligations and the </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='10',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-03.htm',USER='105540',CD='Jun 26 16:54 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">reasons why such Access
Person believes that he or she cannot comply with the provisions of the Code.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">VI.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">EXEMPTED TRANSACTIONS</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
provisions of Article&nbsp;VII of this Code shall not apply as follows:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To purchases or
sales effected in any account over which a Covered Person has no direct or
indirect influence or Control;</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To purchases or
sales which are non-volitional on the part of either the Covered Person or an
ING Fund or Managed Account;</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To purchases
which are part of an Automatic Investment Plan including a dividend
reinvestment plan or Employee stock purchase plan. Please note: Transactions
that override the pre-set schedule or allocations of an Automatic Investment
Plan are not exempted.</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To purchases
effected upon the exercise of rights issued by an issuer <i>pro rata</i> to all holders of a class of its
securities, to the extent such rights were acquired from such issuer, and sales
of such rights so acquired;</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The provisions
of Article&nbsp;VII of this Code (other than Article&nbsp;VII.A) shall not
apply to a Disinterested Director.</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.35pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">F.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The provisions
of Article&nbsp;VII (other than Article&nbsp;VII. A). and Article&nbsp;VIII. B.
shall not apply to Access Persons who are Shared Employees and Access Persons
who are subject to another sub-adviser Code approved by the Board of the
relevant ING Funds.</font></p>

<p align="left" style="margin:0in 0in .0001pt 45.0pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
exemptions provided in this Article&nbsp;VI do not apply to Article&nbsp;IX G.
(Reporting of Transactions in ING Fund Shares).</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='11',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-03.htm',USER='105540',CD='Jun 26 16:54 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">VII.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">RESTRICTIONS ON
PERSONAL INVESTING ACTIVITIES</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">General</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No Access Person shall
purchase or sell, directly or indirectly or for any account over which an
Access Person has discretion, any, in which he or she has, or by reason of such
transaction acquires, any direct or indirect Beneficial Ownership and which he
or she knows or should have known at the time of such purchase or sale (i)&nbsp;is
Being Considered for Purchase or Sale by an ING Fund or Managed Account; or (ii)&nbsp;is
being purchased or sold by an ING Fund or Managed Account.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following provisions of
this Article&nbsp;apply to all Covered Persons other than Disinterested
Directors.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Restrictions on Purchase of
Limited Offerings</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No Investment Personnel may
directly or indirectly acquire Beneficial Ownership in any securities in a &#147;limited
offering&#148; (sometimes referred to as a &#147;private placement&#148;). For this purpose, a
&#147;limited offering&#148; means an offering that is exempt from registration under the
Securities Act pursuant to Section&nbsp;4(2)&nbsp;or 4(6)&nbsp;thereof, or
pursuant to Regulation D thereunder.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-clearance</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Every Covered Person must
pre-clear all Personal Securities Transactions with the Compliance Department.
In order to receive pre-clearance for Personal Securities Transactions, the
Covered Person must complete and submit a Personal Trading Approval form. A
member of the Compliance Department is available each business day to respond
to pre-clearance requests. Covered Persons are directed to identify:</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the subject of
the transaction and the number of shares and principal amount of each Security
involved,</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the date on
which the Covered Person desires to engage in the subject transaction;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the nature of
the transaction (i.e., purchase, sale, or any other type of acquisition or
disposition);</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the approximate
price at which the transaction will be effected; and</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the name of the
broker, dealer, or bank with or through whom the transaction will be effected.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">When granted, pre-clearance
authorizations will be identified by authorization number and will be effective
until the end of that calendar day. Pre-clearance may be obtained by providing
a completed Personal Trading Approval form to a Designated Person for
authorization. The current list of Designated Persons of the Advisers who are
authorized </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='12',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-03.htm',USER='105540',CD='Jun 26 16:54 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to provide pre-clearance
trade approval is attached as Exhibit&nbsp;B. Questions regarding pre-clearance
procedures should be directed to the Compliance Department.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Compliance
of transactions with this Code by Covered Persons may depend on the subsequent
investment activities of the Funds or Managed Accounts. Therefore,
pre-clearance approval of a transaction by the Designated Person does <b>not</b> necessarily mean the transaction
complies with the Code.</font></i></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Restrictions
on Purchase of Initial Public Offerings</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Investment
Personnel or Access Person of an Adviser (or Employee who is a Registered
Representative) may directly or indirectly acquire Beneficial Ownership in any
securities in an initial public offering without first obtaining prior written
approval from the Compliance Director. For the purpose of this provision, &#147;initial
public offering&#148; means an offering of securities registered under the
Securities Act, the issuer of which, immediately before the registration, was
not subject to the reporting requirements of Sections 13 or 15(d)&nbsp;of the
Exchange Act.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Compliance
Director shall not grant approval for any Investment Personnel or Access Person
of an Adviser (or Employee who is a Registered Representative) to acquire
Beneficial Ownership in any securities in an initial public offering, except as
permitted by NASD Rule&nbsp;2790. Among other transactions, Rule&nbsp;2790
permits the purchase of securities in an initial public offering that qualifies
as an &#147;issuer-directed&#148; offering either (i)&nbsp;to a specific list of
purchasers, or (ii)&nbsp;as part of a spin-off or conversion offering, all in
accordance with the provisions of Rule&nbsp;2790.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Blackout
Periods</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Access
Person or Employee may execute any Personal Securities Transaction on a day
during which any ING Fund or Managed Account has a pending &#147;buy&#148; or &#147;sell&#148;
order in that same Security until such order is executed or withdrawn. Provided
that this restriction will not apply if:</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.25in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Access
Person or Employee is physically located at a site where (a)&nbsp;no Investment
Personnel for the ING Fund or Managed Account in question are present and (b)&nbsp;information
about the trading activities of the ING Fund or&#160;
Managed Account is not available; and</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.25in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.25in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Access
Person or Employee does not have actual knowledge of securities being bought,
sold, or considered for purchase or sale by the Fund or Managed Account.</font></p>

<p align="left" style="margin:0in 0in .0001pt 103.5pt;text-align:left;text-autospace:none;text-indent:-13.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any purchase or sale of any Personal Security Holding by a
Portfolio Manager which occurs within seven (7)&nbsp;calendar days (exclusive
of the day of the relevant trade) from the day a Fund or Managed Account he or
she manages trades in such Security will be subject to Automatic Disgorgement. This
seven-day blackout period also applies to any portfolio support staff member
who recommends or participates in the recommendation of the purchase or sale of
the particular Security to a Fund&#146;s or Managed Account&#146;s&#160; Portfolio Manager.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='13',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-03.htm',USER='105540',CD='Jun 26 16:54 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ban on Short-Term Trading Profits</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment Personnel may not profit
from the purchase and sale, or sale and purchase, of the same (or equivalent)
Personal Securities Holding within sixty (60) calendar days, unless such
Investment Personnel have requested and obtained an exemption from this
provision from the Compliance Department with respect to a particular
transaction.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Violations of this policy will be
subject to Automatic Disgorgement.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prohibition shall not apply to any
transaction in index futures, index options, including WEB&#146;s</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#228;</font><font size="2" style="font-size:10.0pt;">, SPDR&#146;s</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#228;</font><font size="2" style="font-size:10.0pt;"> or similar baskets of portfolio securities. Nor shall it
apply to the exercise of vested options in ING stock.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gifts</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employees may not, directly or
indirectly, receive any fee, commission, gift or other thing, or services,
having a value of more than $100.00 each year from any person or entity that
does business with or on behalf of the ING Funds or a Managed Accounts.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Services as a Director</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment Personnel may not serve on
the boards of directors of publicly traded companies, unless</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the individual serving as a director has received prior
authorization from the appropriate Designated Person based upon a determination
that the board service would be consistent with the interests of the Managed
Accounts, the Funds and their shareholders and</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">policies and procedures have been developed and maintained
by the Boards that are designed to isolate the individual from those making
investment decisions (an &#147;Ethical Wall&#148;).</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Naked Options</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment Personnel are prohibited
from engaging in naked options transactions. Transactions under any incentive
plan sponsored by the Fund Affiliates or their affiliates are exempt from this
restriction.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Short Sales</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Short sales of Securities by
Investment Personnel are prohibited.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Permitted Exception</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purchases and sales of the
following Securities are exempt from the restrictions set forth in paragraphs A
and F above if such purchases and sales comply with the pre-clearance
requirements of paragraph C. above and are:</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='14',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-03.htm',USER='105540',CD='Jun 26 16:54 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Equity Securities of a company with a market capitalization
in excess of $10 billion, when transactions are for 3000 shares or less, or</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">$10,000 or less per calendar month, whichever is lesser.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">VIII.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">COMPLIANCE PROCEDURES</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any person filing a required
holdings or transaction report under this Article&nbsp;VIII may include a
statement that the report will not be construed as an admission that such
person has any direct or indirect beneficial ownership of any securities
covered by the report. Each report shall be submitted to the Compliance
Director. The Compliance Director, or his or her designee, shall review each
report received and report to the Chief Compliance Officers and the Board as required
in Section&nbsp;X. &#147;Sanctions.&#148;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Disclosure of Personal Holdings</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All
Access Persons (other than Disinterested Directors) must disclose all
Securities holdings in which they have a Beneficial Ownership interest upon
commencement of employment and thereafter on an annual basis. Initial reports
shall be made within 10 days of hire or within 10 days of becoming an Access
Person. Annual disclosure shall be made by February&nbsp;14 of each year. Pursuant
to Rule&nbsp;17j-1(d)(1)(iv)&nbsp;under the 1940 Act, an Access Person of the
Adviser need not make a separate initial or annual report to the extent that
the information in the report duplicates information the Access Person is
required to record under Rule&nbsp;204-2(a)(13) of the Advisers Act. An Access
Person of the Adviser may satisfy this reporting requirement by providing the
report to the compliance department of the Adviser. The initial and annual
reports are required to include the following information current as of a date
no more than 45 days prior to the date of hire (initial report) or submitting
the report (annual report): The initial and annual reports are required to
include the <b>title and type of Security,
number of shares (for equity Securities) and principal amount (for debt
Securities) of each Security, the exchange ticker symbol or CUSIP number, the
date of report submission, </b>the name of any broker, dealer or bank
with whom the Access Person maintained an account in which any securities (not
limited to Securities as defined by this Code) were held for the direct or
indirect benefit of the Access Person.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Duplicate Trade Confirmation Statements and Account
Statements</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All Access Persons (other than
Disinterested Directors) must cause duplicate trading confirmations for all
Personal Securities Transactions and copies of periodic statements for all
Securities accounts to be sent to the ING Investments Compliance Department. A
form letter that may be used to direct brokerage firms maintaining such
accounts to send duplicate trade confirmations to the ING Investments Compliance
Department is attached as Exhibits C-1 and C-2.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='15',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-03.htm',USER='105540',CD='Jun 26 16:54 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Quarterly Reporting</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt 58.5pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All
Access Persons (except as provided below) must prepare (and report as required
below) a quarterly report identifying any new accounts that were opened or any
existing accounts that have been closed.&#160;
This report shall contain the following information:</font></p>

<p align="left" style="margin:0in 0in .0001pt 58.5pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 99.0pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The name of the broker, dealer or bank with or through whom
the new account was opened and the date on which the account was opened.</font></p>

<p align="left" style="margin:0in 0in .0001pt 99.0pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 99.0pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The name of the broker, dealer or bank with or through whom
the account was closed, the account number of the closed account and the date
on which the account was closed.</font></p>

<p align="left" style="margin:0in 0in .0001pt 99.0pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 58.5pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
addition, Quarterly Transaction Reports are required as described below:</font></p>

<p align="left" style="margin:0in 0in .0001pt 58.5pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h3 align="left" style="font-weight:bold;margin:0in 0in .0001pt 85.65pt;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-27.35pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">1)</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Disinterested Directors</font></h3>

<h3 align="left" style="font-weight:bold;margin:0in 0in .0001pt 85.5pt;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-27.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h3>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Disinterested
Directors do not have to provide a quarterly report identifying any new
accounts that were opened or any existing accounts that have been closed.&#160; However, Disinterested Directors must submit
a quarterly report containing the information set forth in subsection (3)&nbsp;below
only with respect to those transactions for which such person knew or, in the
ordinary course of fulfilling his or her official duties as an Disinterested
Director, should have known that during the 15-day period immediately before or
after the Disinterested Director&#146;s transaction in Securities that are otherwise
subject to Access Person reporting requirements, an ING Fund or a Managed
Account had purchased or sold such Securities or was actively considering the
purchase or sale of such Securities.&#160;
Disinterested Directors are not required to submit a report containing
the information set forth in subsection (3)&nbsp;below with respect to
purchases or sales that are non-volitional on the part of such persons, such as
transactions in an account over which such person has delegated discretionary
trading authority to another person.</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h3 align="left" style="font-weight:bold;margin:0in 0in .0001pt 81.0pt;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-22.5pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">2)</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">All Directors (both Disinterested and Interested)</font></h3>

<h3 align="left" style="font-weight:bold;margin:0in 0in .0001pt 81.0pt;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-22.5pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h3>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Solely
to facilitate compliance with timely Form&nbsp;4 and 5 filing requirements, all
Directors or Trustees must submit a report of any transaction involving an ING
Fund that is a closed-end investment company (such as the ING Prime Rate Trust,
ING Global Equity Dividend and Premium Opportunity Fund, or the ING Senior
Income Fund) on the trade date of such transaction.</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h3 align="left" style="font-weight:bold;margin:0in 0in .0001pt 81.0pt;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-22.5pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">3)</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Access Persons</font></h3>

<h3 align="left" style="font-weight:bold;margin:0in 0in .0001pt 81.0pt;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-22.5pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h3>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as provided herein,
all Access Persons must prepare a quarterly report of all personal securities
transactions in Securities no later than 30 days following the end of each
quarter in which such Personal Securities Transactions were effected.&#160; Pursuant to
Rule&nbsp;17j-1(d)(1)(iv)&nbsp;under the 1940 Act an Access Person </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='16',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-05.htm',USER='105325',CD='Jun 26 18:17 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of an Adviser need not make
a separat</font><font size="2" style="font-size:10.0pt;">e quarterly report to the
extent that the information in the report duplicates information the Access
Person is required to record pursuant to Rule&nbsp;204-2(a)(13) under the
Advisers Act.&#160; An Access Person of an
Adviser may satisfy this reporting requirement by providing the report to the
compliance department of the relevant Adviser(s).&#160; The Quarterly Transaction Reports must state:</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 115.9pt;text-align:left;text-autospace:none;text-indent:-16.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the title, exchange ticker symbol or CUSIP number , the
number of shares (for equity Securities) and principal amount (for debt
Securities) as well as the interest rate and maturity date, if applicable of
each Security involved;</font></p>

<p align="left" style="margin:0in 0in .0001pt 115.9pt;text-align:left;text-autospace:none;text-indent:-16.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 115.9pt;text-align:left;text-autospace:none;text-indent:-16.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the trade date and nature of the transactions (i.e.,
purchase, sale, private placement, or other acquisition or disposition);</font></p>

<p align="left" style="margin:0in 0in .0001pt 115.9pt;text-align:left;text-autospace:none;text-indent:-16.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 115.9pt;text-align:left;text-autospace:none;text-indent:-16.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">iii.</font><font size="1" style="font-size:8.5pt;">&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the price of the Security at which each transaction was
effected; and</font></p>

<p align="left" style="margin:0in 0in .0001pt 115.9pt;text-align:left;text-autospace:none;text-indent:-16.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 115.9pt;text-align:left;text-autospace:none;text-indent:-16.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">iv.</font><font size="1" style="font-size:8.5pt;">&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the name of the broker, dealer or bank with or through
which each transaction was effected; and</font></p>

<p align="left" style="margin:0in 0in .0001pt 115.9pt;text-align:left;text-autospace:none;text-indent:-16.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 115.9pt;text-align:left;text-autospace:none;text-indent:-16.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">v.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the date the report is submitted.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.5in;text-align:left;text-autospace:none;text-indent:-9.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h3 align="left" style="font-weight:bold;margin:0in 0in .0001pt 81.0pt;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-22.5pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">4)</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Exclusions</font></h3>

<h3 align="left" style="font-weight:bold;margin:0in 0in .0001pt 81.0pt;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-22.5pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h3>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Quarterly Transaction
reports are not required to include any Personal Securities Transaction
effected in any account over which the Access Person has no direct or indirect
influence or Control and has certified <strong style="letter-spacing:0pt;"><b style="font-weight:normal;">these
facts</b></strong> to the ING Investments Compliance Director, in a
manner satisfactory to the Compliance Director, and updates this certification
annually<strong style="letter-spacing:0pt;"><b>  </b></strong><strong style="letter-spacing:0pt;"><b style="font-weight:normal;">and as long as all holdings and transactions in the
account are reported in accordance with the provisions of Article&nbsp;VIII.A.
(Disclosure of Personal Holdings) and Article&nbsp;VIII.B. (Duplicate Trade
Confirmation Statements and Account Statements)</b></strong>&#160; In addition the report is not required to
include shares of registered open-end investment companies (except for ING Fund
Shares and shares of open-end funds managed by ING affiliated advisors, as
provided in Article&nbsp;IX), securities issued by the Government of the United
States, bankers&#146; acceptances, bank certificates of deposit, commercial paper,
and high quality short-term debt instruments, including repurchase agreements.
In addition, Access Persons are not required to make a quarterly transaction
report with respect to transactions effected through an Automatic Investment
Plan. However, any transaction that overrides the pre-set schedule or
allocations of the Automatic Investment Plan must be reported.</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certification of Compliance with Code of Ethics</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All Access Persons and Employees
will be provided with a copy of this Code upon beginning his or her appointment
or employment with an ING Fund or Fund Affiliate, as the case may be, and any
amendments thereto and must certify annually that they have read and understand
this Code, and that they recognize that they are subject to</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='17',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-05.htm',USER='105325',CD='Jun 26 18:17 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the terms and provisions
hereof.&#160; Further, all Employees and
Access Persons including all Directors must certify by January&nbsp;30th of
each year that they have complied with the requirements of this Code for the
prior calendar year.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">IX.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">TRANSACTIONS IN ING FUND SHARES</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Applicability of Article&nbsp;IX</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following restrictions and
requirements apply to all purchases and sales of shares of any ING Fund,
regardless of whether such ING Fund is available for purchase directly or
through one or more variable insurance products, other than exchange traded
closed-end funds (&#147;ING Fund Shares&#148;) and all holdings of ING Fund Shares by
Covered Persons or in which they have a beneficial ownership interest (&#147;Covered
Transactions&#148; or &#147;Covered Holdings&#148;), except as provided below.&#160; Covered Transactions and Covered Holdings
include transactions and holdings by any person whose transactions or holdings
the Covered Person has a Beneficial Ownership interest (as defined in Article&nbsp;II
of the Code) (&#147;Related Persons&#148;).</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These restrictions and requirements
(except for the reporting requirements of Paragraph F) do not apply to
purchases of ING Fund shares through (1)&nbsp;an automatic dividend
reinvestment plan, or (2)&nbsp;through any other Automatic Investment Plan,
automatic payroll deduction plan <i>where the
allocation and schedule is pre-set.</i></font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;</font></i></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Covered Persons must provide the
ING Investments Compliance Director with a list of his or her Related Persons
(and the name and location of the relevant account or variable insurance
contract or policy) who hold ING Fund Shares.&#160;
The list shall be updated to reflect changes on a quarterly basis.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Compliance with Prospectus</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All Covered Transactions in ING
Fund Shares must be in accordance with the policies and procedures set forth in
the Prospectus and Statement of Additional Information for the relevant Fund,
including but not limited to the Fund&#146;s policies and procedures relating to
short term trading and forward pricing of securities.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Disinterested Directors
/Trustees/Consultants</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
requirements of subsections A, D, E, F and G of this Section&nbsp;IX shall not
apply to Disinterested Directors/Trustees/Consultants, except that such persons
may be asked periodically to sign the certification attached as Exhibit&nbsp;D to
certify that they have complied with this Code.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">All Transactions required to be through
an Approved Plan or Contract</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Exchanges among ING Funds Shares acquired prior to June&nbsp;1,
2004 and held in retirement, pension, deferred compensation and similar
accounts that are required to be maintained by third party administrators (&#147;Outside
Plans&#148;), are permitted, provided that the Covered Person informs the Compliance
Director of</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='18',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-05.htm',USER='105325',CD='Jun 26 18:17 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.05in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">these holdings of ING Fund Shares
in the Outside Plan and cooperates with the ING Investments Compliance Director
in requiring the administrator for the Outside Plan to provide the Compliance
Director with duplicate account statements reflecting all transactions in ING
Fund Shares effected in the Plan (an Outside Plan as to which such arrangements
have been made is referred to as an &#147;Approved Outside Plan.&#148;).</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Exchanges among the ING Funds&#146; portfolios that are part of
an insurance contract (&#147;Insurance Contracts&#148;), are permitted provided that the
Covered Person informs the Compliance Director Officer of these holdings in the
Insurance Contract and cooperates with the Compliance Director in requiring the
insurance company or the distributing/underwriting broker-dealer for the Insurance
Contract to provide the Compliance Director with duplicate account statements
reflecting all transactions in ING Fund portfolios effected in the Insurance
Contract (an Insurance Contract as to which such arrangements have been made is
referred to as an &#147;Approved Insurance Contract.&#148;).</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">E.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">30-Day Holding Period for ING Fund Shares.</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">All Covered Persons (or Related Persons) must hold any
investment in ING Fund Shares for a minimum of 30 calendar days.</font></i><font size="2" style="font-size:10.0pt;">&#160; This provision does
not apply to shares of money market funds or other funds designed to permit
short term trading, but does apply to movement between these funds and all
other funds.&#160; The 30-day holding period
is measured from the time of the most recent purchase of shares of the relevant
ING Fund Shares by the Covered Person or any of his or her Related Persons.</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160; The Compliance Director may grant exceptions to the 30-day
holding period. Such exceptions will only include redemptions following death
or permanent disability if made within one year of death or the initial
determination of permanent disability, mandatory distributions from a
tax-deferred retirement plan or IRA or for redemptions pursuant to an approved
withdrawal plan.</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Exceptions to the 30-day holding period granted to
Investment Personnel must be reported by the Compliance Director to the
relevant ING Fund Board on a quarterly basis.</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160; Exceptions to the 30-day holding period will not relieve any
sale of ING Fund Shares from the application of any redemption fee that would
apply to any other investor redeeming ING Fund Shares in similar circumstances.</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">F.&#160;&#160;&#160;&#160; Reporting of
Transactions in ING Fund Shares</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt 76.5pt;text-align:left;text-autospace:none;text-indent:-22.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Access</font><font size="2" style="font-size:10.0pt;">
Persons must report all their holdings of ING Fund Shares.&#160; Covered Persons must report all their Covered
Transactions in ING Fund Shares in accordance with the procedures set forth in Article&nbsp;VIII
of the Code, provided </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='19',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-05.htm',USER='105325',CD='Jun 26 18:17 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.35pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">that
Covered Persons are excused from the quarterly reporting requirements of Article&nbsp;VIII.C
as to transactions in:</font></p>

<p align="left" style="margin:0in 0in .0001pt 81.0pt;text-align:left;text-autospace:none;text-indent:-27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 103.7pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">a.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a</font><font size="2" style="font-size:10.0pt;">ny ING Fund Shares held by DST, the ING 401(k)&nbsp;Plan,
an ING Insurance Company&#160; or an Approved
Outside Plan or Approved Insurance&#160;
Contract in the name of the Covered Person or persons identified in the
list referred to in Article&nbsp;IX.A.3., and</font></p>

<p align="left" style="margin:0in 0in .0001pt 103.5pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 103.5pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">b.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any ING Fund
Shares held in any other account for which duplicate trading confirmations and
copies of periodic statements reflecting holdings of any transactions of ING
Fund Shares are received by the Compliance Department within 30 days following
the end of each quarter.</font></p>

<p align="left" style="margin:0in 0in .0001pt 103.5pt;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">G.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Reporting of Holdings and Transactions in Shares of Funds Managed by Affiliated
Advisers</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Access Persons must report
all holdings and transactions in shares of funds managed by Affiliated
Advisers, as listed at P:/Everyone/Compliance/Affiliated Advisers, in
accordance with the procedures set forth in Article&nbsp;VIII of the Code.&#160; Funds that must be reported include
closed-end funds, open-end funds and unit investment trusts (other than those
that are invested exclusively in one or more open-end funds not managed by an
Affiliate Adviser).</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">H.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Questions</font><font size="2" style="font-size:10.0pt;"> to ING
Investments Compliance Director</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Covered
Persons should direct any questions or doubt about how the Code of Ethics
applies to a particular transaction in ING Fund Shares to the ING Investments
Compliance Director.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">I.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Review </font><font size="2" style="font-size:10.0pt;">by</font><font size="2" style="font-size:10.0pt;"> ING Investments Compliance&#160; Director</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
Investments Compliance Director or a member of his or her staff will review
compliance with this Article&nbsp;IX and the Compliance Director will report
violations, together with the sanction imposed, to the Advisers and the ING
Funds Chief Compliance Officers quarterly.&#160;
The Compliance Director will also report violations, together with the
sanction imposed to the relevant Board at its next quarterly meeting.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Minimum Sanctions</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt 53.3pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The minimum sanction for a
violation of the provisions of this Article&nbsp;IX shall be Automatic
Disgorgement.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">X.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">SANCTIONS</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Generally</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Code is designed to assure compliance with applicable law and to maintain
shareholder confidence in the ING Funds, the Advisers, IFA and IFD.&#160; In adopting this Code, it is the intention of
the Boards, the Advisers, IFA and IFD to attempt to</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='20',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-05.htm',USER='105325',CD='Jun 26 18:17 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">achieve
100% compliance with all requirements of the Code, but it is recognized that
this may not be possible.&#160; Incidental
failures to comply with the Code are not necessarily a violation of the law.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Designated Person shall investigate and report all apparent violations of the
Code to the Compliance Director. If the Compliance Director, in consultation
with the appropriate parties, determines that a Covered Person has violated any
provision of this Code, he or she may impose such sanctions as he or she deems
appropriate, including, without limitation, one or more of the following:
warnings, periods of &#147;probation&#148; during which all personal investment
activities (except for specifically approved liquidations of current
positions), a letter of censure, suspension with or without pay, termination of
employment, or Automatic Disgorgement of any profits realized on transactions
in violation of this Code.&#160; Any profits
realized on transactions in violation of Sections E and F of Article&nbsp;VII
of this Code shall be subject to Automatic Disgorgement.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Procedures</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
ING Investments Compliance Director shall quarterly report violations, the
corrective actions taken, and any sanctions imposed to the Advisers&#146; and the
ING Funds&#146; Chief Compliance Officer and the relevant entity&#146;s board of
directors/trustees.&#160; If a transaction in
Securities of a Designated Person is under consideration, a senior officer of
the relevant ING Fund or Fund Affiliate, as the case may be, shall act in all
respects in the manner prescribed herein for a Designated Person.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">XI.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">MISCELLANEOUS
PROVISIONS</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Records</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The ING
Funds, IFD, IFA with regard to the distribution of the IPI Fund and each
Adviser shall maintain records at its principal place of business and/or at
other locations as described in ING Investments and ILIAC&#146;s Forms ADV, Schedule
D 1.K&#160; and shall make these records
available to the SEC or any representative thereof to the extent set forth
below, and may maintain such records under the conditions described in Rule&nbsp;31a-2(f)(1)&nbsp;under
the 1940 Act and Rule&nbsp;204-2 under the Advisers Act:</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a copy of this
Code and any other code of ethics which is, or at any time within the past five
(5)&nbsp;years has been, in effect; shall be preserved in an easily accessible
place;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a record of any
violation of this Code and of any action taken as a result of such violation shall
be preserved in an easily accessible place for a period of not less than five (5)&nbsp;years
following the end of the fiscal year in which the violation occurs;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a copy of
reports made by Covered Persons pursuant to this Code, including reports of or information
provided in lieu of these reports, and reports of</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='21',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-05.htm',USER='105325',CD='Jun 26 18:17 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">transactions
in ING Fund Shares that were held during the relevant period, shall be
preserved for a period of not less than five (5)&nbsp;years from the end of the
fiscal year in which the statement is provided, the first two years in an
easily accessible place;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a copy of each
report disclosing Personal Securities Holdings and holdings of ING Fund Shares
of Access Persons, made pursuant to this Code, shall be preserved for a period
of not less than five (5)&nbsp;years from the end of the fiscal year in which
the report is made;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a list of all
persons who are, or within the past five (5)&nbsp;years have been, required to
pre-clear Personal Securities Transactions or transactions in ING Fund Shares
or make reports disclosing Personal Securities Holdings pursuant to this Code,
or who are or were responsible for reviewing these reports, and each list of
Related Persons provided to the ING Investments Compliance Director pursuant to
Article&nbsp;IX.A.2 and must be maintained in an easily accessible place;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a record of all
written acknowledgements of the receipt of the Code and any amendments for each
person who is currently, or within the past five years was, a Supervised Person
of the Advisers.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">vii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a record of any
decision, and the reasons supporting the decision, to approve the acquisition
of securities in an IPO or Limited Offering for at least 5 years after the end
of the fiscal year in which the approval was granted.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">viii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a copy of each
report required by paragraph (c)(2)(ii)&nbsp;of Rule&nbsp;17j-1.&#160; Paragraph (c)(2)(ii)&nbsp;of Rule&nbsp;17j-1
requires that a written report to be provided to the board of directors, no
less than annually, that describes any issues arising under this Code or
procedures since the last report to the board of directors, including, but not
limited to, information about material violations of the Code or procedures and
sanctions imposed in response to the material violations.&#160; Such a report must also certify that the
Funds and the Advisers, as applicable, have adopted procedures reasonably
necessary to prevent Covered Persons from violating the Code.&#160; A copy of such a report must be maintained
for a period not less than five (5)&nbsp;yeas after the end of the fiscal year
in which it is made, the first two years in an easily accessible place.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.1in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Confidentiality</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All
pre-clearance requests pertaining to Personal Securities Transactions, reports
disclosing Personal Securities Holdings, and any other information filed
pursuant to this Code shall be treated as confidential, but are subject to
review as provided in the Code, review by the Securities and Exchange
Commission and other regulators and self-regulatory organizations, and such
internal review as may be requested by the Board of the relevant Fund.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='22',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-05.htm',USER='105325',CD='Jun 26 18:17 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interpretation
of Provisions</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each
Fund&#146;s or Adviser&#146;s board of directors/trustees may from time to time adopt
such interpretations of this Code as such board deems appropriate.</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effect
of Violation of this Code</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt .5in;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
adopting Rule&nbsp;17j-1, the SEC specifically noted, in Investment Company Act
Release No.&nbsp;IC-11421, that a violation of any provision of a particular
code of ethics, such as this Code, would not be considered a <i>per se</i> unlawful act prohibited by the
general anti-fraud provisions of the Rule.&#160;
In adopting this Code, it is not intended that a violation of this Code
necessarily is or should be considered to be a violation of Rule&nbsp;17j-1 or Rule&nbsp;204A-1.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='23',FILE='C:\JMS\pveera\08-11032-5\task3006257\11032-5-ao-05.htm',USER='105325',CD='Jun 26 18:17 2008' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">XII.</font></b><font size="1" color="black" style="color:windowtext;font-size:3.0pt;text-transform:none;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;text-transform:none;">EXHIBITS</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt .6in;page-break-after:auto;text-align:left;text-autospace:none;text-indent:-.6in;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">&nbsp;</font></b></p>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT
A</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Procedures to Control the Flow and Use of Material Non-<br>
Public Information in Connection With Securities Activities</font></b></p>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The reputation for integrity and high ethical
standards in the conduct of its affairs of the ING Investments, LLC, ILIAC, IFA
and ING Funds Distributor, LLC (&#147;ING&#148;) is of paramount importance to all of
us.&#160; To preserve this reputation, it is
essential that all transactions in securities are effected in conformity with
securities laws and in a manner, which avoids the appearance of
impropriety.&#160; In particular, it is a
long-standing policy of ING that if an Employee of ING or any of its
subsidiaries or affiliated investment companies possesses material non-public
information about the Adviser&#146;s securities recommendations, and client
securities holding and transactions or a public company, the Employee may not
trade in or recommend trading in any securities of those&#160; companies nor disclose such information to
another person, whether within or outside the ING organization, except in
fulfillment of a legitimate business objective of ING.&#160; Violations of this policy may result in
severe civil and criminal penalties under the Federal securities laws, as well
as disciplinary action by ING.&#160; Employees
should refer to ING&#146;s Code of Conduct for a complete statement of these
policies.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Material
non-public information is information not known to the public that:&#160; (1)&nbsp;might reasonably be expected to
affect the market value of securities and (2)&nbsp;influence investor decisions
to buy, sell or hold securities. It is not possible to define with precision
what constitutes &#147;material&#148; information.&#160;
However, advance information concerning a public company may include:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a merger, acquisition or joint venture;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a stock split or stock dividend;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">earnings or dividends of an unusual nature;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the acquisition or loss of a significant contract;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a significant new product or discovery;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a change in Control or a significant change in
management;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a call of securities for redemption;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='1',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-07.htm',USER='105540',CD='Jun 26 17:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the public or private sale of a significant amount of
additional securities;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the purchase or sale of a significant asset;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a significant labor dispute;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">establishment of a program to make purchases of the
issuer&#146;s own shares;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a tender offer for another issuer&#146;s securities; and</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">an event requiring the filing of a current report
under the Federal Securities Laws.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h6 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reporting
Material Non-Public Information to the Compliance Director</font></b></h6>

<h6 align="left" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h6>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">From
time-to-time, a director, officer or Employee of ING, may come into possession
of material non-public information (of the type described above) about a
company.&#160; If such information is obtained
in connection with the performance of such person&#146;s responsibilities as a director,
officer or Employee of ING, then he or she must immediately report the
information as follows:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A director,
officer or Employee, must report such information immediately to the Compliance
Director, who is responsible for taking appropriate action, which may include
restricting trading in the affected securities. Depending on the nature of such
information, such director, officer or Employee may have an ongoing duty to
inform the<b> ING Investments</b>
Compliance Director of material changes in the information or the status of the
transaction to which it relates to allow the Compliance Director to take
appropriate action, including restricting or terminating restrictions on
trading in the affected securities.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Such
information need not be reported if, after reasonable inquiry, the director,
officer or Employee is satisfied that the ING Investments Compliance Director
has already received such information.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-07.htm',USER='105540',CD='Jun 26 17:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT
B</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<h3 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Designated Persons of ING Investments Able to
Provide Pre-clearance</font></b></h3>

<h3 align="left" style="font-weight:bold;margin:0in 0in .0001pt .75in;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h3>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lauren
Bensinger &#150; Primary AZ</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rhonda
Ervin</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maryann
White</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Edwin
Saratt</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bill
Dacier</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amanda
Walker</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Alexis
Wherry</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-07.htm',USER='105540',CD='Jun 26 17:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT
C-1</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Sample Letter to Brokerage Firm</font></b></p>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">To Establish
Duplicate Confirms and Periodic Statements</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;2,
1996</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Merrill
Lynch, Pierce, Fenner&nbsp;&amp; Smith,&nbsp;Inc.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">111
W. Ocean Blvd., 24th Floor</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Long
Beach, CA&#160; 90802</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RE:&#160;&#160; The Brokerage Account of <u>Account
Registration</u></font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Account No.&nbsp;<u>Your
Account Number</u></font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">AE <u>Name of Your
Registered Representative</u></font></p>

<p align="left" style="margin:0in 0in .0001pt 27.0pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear
Ladies/Gentlemen:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
accordance with the policies of ING Investments, LLC and/or ING Life Insurance
and Annuity Company, LLC, financial services firms with which I have become
associated, effective immediately, please forward duplicate trade confirmations
and periodic statements on the above-captioned accounts as follows:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING Funds Services, LLC</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Attn:&#160; Lauren D. Bensinger</font></b></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VP&nbsp;&amp;
Compliance Director</font></b></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7337 E. Doubletree Ranch
Road</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Scottsdale, AZ 85258</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sincerely,</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Your
Name</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-07.htm',USER='105540',CD='Jun 26 17:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT
C-2</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Sample Letter to Brokerage Firm</font></b></p>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">To
Establish Duplicate Confirms and Periodic Statements</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Today&#146;s
Date</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BROKERAGE</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ADDRESS</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CITY,
STATE ZIP</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RE:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Brokerage
Account of<br>
<u>Account Registration</u></font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Account No.&nbsp; <u>Your
Account Number</u></font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">AE <u>Name of Your
Registered Representative</u></font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear
Ladies/Gentlemen:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
accordance with the policies of ING Funds Distributor, LLC (&#147;IFD&#148;), an NASD
member firm with which I have become associated, effective immediately, please
forward duplicate trade confirmations and periodic statements on the
above-captioned accounts as follows:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
Funds Distributor, LLC</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Attn:&#160; Lauren D.
Bensinger, Chief Compliance Officer</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7337
E. Doubletree Ranch Road</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Scottsdale,
AZ 85258</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IFD&#146;s
Chief Compliance Officer has also signed below indicating her approval of my
opening a cash or margin account with your firm. (407 Letter)</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sincerely,</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt 10.0pt;text-align:left;text-autospace:none;text-indent:-10.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;(Registered Representative&#146;s Signature)</font></i></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registered
  Representative&#146;s Name</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(Lauren&#146;s
  Signature)</font></i></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lauren
  D. Bensinger</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">V.P&nbsp;&amp;
  Chief Compliance Officer</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-07.htm',USER='105540',CD='Jun 26 17:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT
D</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Annual Certification by All Covered Persons and Directors</font></b></p>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ING
FUNDS</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I
am fully familiar with the Code of Ethics effective January&nbsp;3, 2006
adopted by each of the ING and IPI mutual funds, ING Investments, LLC, ING Life
Insurance and Annuity Company, ING Financial Advisers (with regard to the
distribution of the IPI Fund) and ING Funds Distributor, LLC and will comply
with such Code at all times during the forthcoming calendar year, and</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I
have complied with the Code at all times during the previous calendar year,
except as otherwise documented in my file or indicated below.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I
have, during the previous calendar year, disclosed and confirmed all holdings
and transactions required to be disclosed or confirmed pursuant to such code.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:11.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name
  (print):&nbsp; </font></p>
  </td>
  <td width="42%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:42.08%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.08%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Department:</font></p>
  </td>
  <td width="33%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:33.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="53%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:53.08%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.08%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:33.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="53%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:53.08%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.08%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.34%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature:
  </font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.74%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.58%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:39.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="62" style="border:none;"></td>
  <td width="20" style="border:none;"></td>
  <td width="315" style="border:none;"></td>
  <td width="25" style="border:none;"></td>
  <td width="34" style="border:none;"></td>
  <td width="41" style="border:none;"></td>
  <td width="251" style="border:none;"></td>
 </tr>
</table>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exceptions:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please
Forward or Fax to:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
INVESTMENTS COMPLIANCE<br>
DEPARTMENT, SCOTTSDALE</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fax:
480-477-2087</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Phone:
480-477-2141 (Rhonda Ervin)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='6',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-07.htm',USER='105540',CD='Jun 26 17:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT
E</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Certification Regarding Exemption From Certain Reporting
Requirements Of The Code Of Ethics</font></b></p>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.44%;">
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.52%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:44.7%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.78%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:50.22%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.78%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="16%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:16.3%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Position/Department:</font></p>
  </td>
  <td width="33%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:33.92%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.78%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="41" style="border:none;"></td>
  <td width="81" style="border:none;"></td>
  <td width="255" style="border:none;"></td>
  <td width="374" style="border:none;"></td>
 </tr>
</table>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Article&nbsp;VI.A.
of the Code of Ethics exempts transactions in &#147;any account over which an Access
Person has no direct or indirect influence or Control&#148; from the provisions
regarding Restrictions on Personal Investing Activities in Article&nbsp;VII of
the Code.&#160; Article&nbsp;VIII.C.2.
provides an exemption from quarterly transaction reporting requirements for
such accounts.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To
take advantage of the exemptions provided above, I hereby certify as follows:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .35in;text-align:left;text-autospace:none;text-indent:-.35in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">B.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><font size="2" style="font-size:10.0pt;">I have no direct or indirect
influence or Control over any transaction effected in the following account(s):</font></p>

<p align="left" style="margin:0in 0in .0001pt .35in;text-align:left;text-autospace:none;text-indent:-.35in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="65%" style="border-collapse:collapse;margin-left:1.0in;width:65.0%;">
 <tr>
  <td width="54%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:54.78%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Broker,&nbsp;Dealer&nbsp;or&nbsp;Bank&nbsp;who&nbsp;holds&nbsp;discretion.</font></b></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.7%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="36%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:36.52%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Account&nbsp;Number</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:54.78%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.7%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:36.52%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.78%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.7%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.52%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:54.78%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.7%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="36%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:36.52%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160; I have attached accurate, full, and complete
copies of all documents establishing the account(s)&nbsp;listed above,
including any instructions or investment guidelines.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='7',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-07.htm',USER='105540',CD='Jun 26 17:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160; I will not communicate directly or indirectly
with anyone who exercises discretion to effect transactions in the account(s),
other than (a)&nbsp;the receipt of quarterly and annual account statements, (b)&nbsp;amendments
to the account documentation, including to the investment guidelines (which
amendments will promptly be provided to the ING Investments Compliance
Director), or (c)&nbsp;communications relating to ministerial
non-investment-related matters.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160; I understand that in order to take advantage
of these exemptions, I am still required to comply with the provisions of Article&nbsp;VIII.A.
(Disclosure of Personal Holdings) and Article&nbsp;VIII.B (Duplicate Trade
Confirmation Statements and Account Statements) with respect to all holdings
and transactions in these accounts.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160; I will provide such additional documents or
information, as the ING Investments Compliance Director shall request.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.76%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature:</font></p>
  </td>
  <td width="40%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:40.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0in 0in 0in 0in;width:16.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.66%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="30%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:30.58%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='8',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-07.htm',USER='105540',CD='Jun 26 17:10 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT
F</font></b></h1>

<h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><font style="color:black;font-weight:bold;text-transform:uppercase;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-transform:none;">Initial</font></b></font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;"> Certification of Code Of Ethics Compliance</font></p>

<p style="color:black;font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I
am fully familiar with the effective Code of Ethics, dated January&nbsp;3,
2006. as adopted by each of the ING and IPI mutual funds, ING Investments, LLC
(&#147;IIL&#148;),&#160; ING Life Insurance and Annuity
Company,&#160; ING Financial Advisers<b> (</b>with regard to the distribution of the
IPI Fund) and ING Funds Distributor, LLC and will comply with the Code at all
times during the forthcoming calendar year.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If
I have any questions about any of the Code&#146;s policies or procedures, I will
contact the ING Investments Compliance Department for guidance before I engage
in any activities or take any action.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="98%" style="border-collapse:collapse;width:98.22%;">
 <tr>
  <td width="11%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:11.2%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name
  (print): </font></p>
  </td>
  <td width="42%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:42.84%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.52%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.72%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Department:</font></p>
  </td>
  <td width="32%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:32.72%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:54.04%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.52%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.72%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:32.72%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:54.04%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.52%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.72%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.72%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.48%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature:
  </font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.56%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.52%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.38%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:38.06%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="62" style="border:none;"></td>
  <td width="20" style="border:none;"></td>
  <td width="315" style="border:none;"></td>
  <td width="19" style="border:none;"></td>
  <td width="40" style="border:none;"></td>
  <td width="39" style="border:none;"></td>
  <td width="240" style="border:none;"></td>
 </tr>
</table>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please
Forward or Fax to:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ING
INVESTMENTS COMPLIANCE<br>
DEPARTMENT, SCOTTSDALE</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fax:
480-477-2087</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Phone:
480-477-2141 (Rhonda Ervin)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='9',FILE='C:\JMS\105540\08-11032-5\task3006099\11032-5-ao-07.htm',USER='105540',CD='Jun 26 17:10 2008' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>j08110324_za046.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_za046.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`*0"0`P$1``(1`0,1`?_$`:(````&`@,!````````
M``````<(!@4$"0,*`@$`"P$```8#`0$!````````````!@4$`P<""`$)``H+
M$``"`0,$`0,#`@,#`P(&"74!`@,$$042!B$'$R(`"#$403(C%0E10A9A)#,7
M4G&!&&*1)4.AL?`F-'(*&<'1-2?A4S:"\9*B1%1S148W1V,H5597&K+"TN+R
M9(-TDX1EH[/#T^,I.&;S=2HY.DA)2EA96F=H:6IV=WAY>H6&AXB)BI25EI>8
MF9JDI::GJ*FJM+6VM[BYNL3%QL?(R<K4U=;7V-G:Y.7FY^CIZO3U]O?X^?H1
M``(!`P($!`,%!`0$!@8%;0$"`Q$$(1(%,08`(A-!40<R811Q"$*!(Y$54J%B
M%C,)L23!T4-R\!?A@C0EDE,88T3QHK(F-1E4-D5D)PIS@Y-&=,+2XO)59756
M-X2%H[/#T^/S*1J4I+3$U.3TE:6UQ=7E]2A'5V8X=H:6IK;&UN;V9W>'EZ>W
MQ]?G]TA8:'B(F*BXR-CH^#E)66EYB9FIN<G9Z?DJ.DI::GJ*FJJZRMKJ^O_:
M``P#`0`"$0,1`#\`W]/?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^
MZ]U[W[KW7O?NO=>]^Z]U[W[KW6CO_-U^1_S#^>O\PGLGX#?$/M[N.GZSZ3RF
MS>L]^;9^,78FQ]BIU_NQ]LX[LG<OR0^2^Z<[!7KE^I>O=U31[>J\,F6VZM%4
MX.I6>9*ZHI:>N]U[JG39/PD_G3_&S%3?*_+_`#,[]WI2_'S:6Q<SUOCOC%WW
MN;MCL[)_&C?N]:BG;NS9FRMXTL^WNP/CK@<I@TFR6U!'45&4T04U71T./C>N
MI_=>ZWL/Y+/SUJOYA'P0ZU[9WGO?8N\N\=I56=ZP[YEV3D,`\1[`V3EZW#+N
MBOV[@3'#M!>R,#34FXJ2@>GI?%29)`D2*`J^Z]U9/VEV9LWICK??7;?8N1KL
M/L'K;:N;WMO3,8W;NY-V5F'VOMN@GRN=RR;=V?B,]N;*QXS&TTD\L=%1U$PB
MC9@A`/OW7NJG?A5_/U_EK?/3NQ/CUTAVMN3'=J9AZ]^O]N]E;+R&QI.UL?B]
MNQ[IKLGL!JV>IDJXH<)YIOML@F.R+K25&FF(@D(]U[JY[W[KW6FM_P`*6D^<
MW\O?I&B^;OQ7_F7_`"_VY1]@_(ZEV3NSHO<VX.N<AUUM#%[_`,!O7<^'AZAD
MP76>`SV`PNU:S:HHTH,O5YB6:DJ0_P!XKT^BH]U[H-O^$TN3^?'\S'K[L3Y5
M_*'^9S\Q:C;G3/?&V=D[3ZCV-N3KC%;=WI6;9P^WM][FI>UIMR]7;KK,QLW<
M-'GZ/'FBQ4V*K#%]R35(6B(]U[J_#^<=T#\FM^_&/LKO'XH_-[O[XH=L?'_J
M/L7>^!VQU[6[/;JGM&?`8H[H?$]CXK+;5K=S19&IAP;45!DZ'*P1XT54DDE'
M6<1^_=>Z^>9\$_\`A3?_`#*?CI\E=@]B?(OY`]B?*+HQ*S^#=H=1[[J\-+'E
M-J91XX:_+;6R%/AZ>JPN\L``*O'SJWBDEB\$ZO!+(A]U[KZJ7Q][^ZD^4O3'
M7?R`Z+WCC=^]4]I;<I-S[/W/BV815E#4ZXIZ2LII0M3C,SB:Z&6DKJ.=4J*.
ML@EAE59$91[KW6JM_P`*4X_GK\,-J;4^8/Q'_F-_)_K[%=M=Y[1ZPW5T'7Y?
M9%3UELS^\V`&,P^3ZJ>AV5CL_A*!,E@EEKJ#)564:>>NFGCJ80H@;W7NMB#X
M"?&/M[XU]14])WE\P/D)\O>S-[X?9^:W?N+N_*;)J<%M/<=+AI%S6-ZIP^T]
MF[<KMO;5R%96DR0Y*OS51(U/&XG2[*?=>ZUK_P"<%_PI*[9VG\CO^&W?Y1VS
MZ#MSY2Y'=U%UCN#N2##X_?N.P79.1J$HFZ]ZBVC5QU6W-V;MP58_CRF6RPJ,
M+C)HI86IIS%-+3^Z]T+?4O\`(?\`YL_:&SO](7R__GZ?.G8'>.\<?!E<KU]\
M;NR.P\%U?UYF*N/S2X=1A>SME[;W&M$T@29,1A,#1I(K)`\T029O=>ZK4_F9
M=D?\*#?Y.G6V)ZX[(^:-3\L?ACVOOGKW:>%^7R[;S6T^_NIJO&;LQ6XJO;&X
M=Y;8W#3=A[3RF]Z#$2TCU>2S>Z:7)8[ST]/54T\LD'OW7NM^?9>9_O%L[:>X
M/(DO\=VS@<SY8A*L4G\4Q=+6^2-9V:8(_GN`Y+6/)O[]U[I0S2QP12SS.L<,
M,;RRR,;+''&I=W8_A54$GW[KW7R=O@/V=C^VOYK7S!@S'7U7V/D_FWC?E'T9
MLS+93M_*=-Q5O:>^.SJ7?.V>PDWMCZ:+N3:6VMG4.QWFKQMBFRV9D:):66*9
M:MH??NO=7K?*_P"4F^MO=7?(/M7O_P"+'R8V'@OCI\).U/Y7O6X[5^1-'23[
MS^366H-V=?[B[)V=UQ@]QY_8'?-)NW;F_3!5YROH9_L1@X_L:NMR,\4=![KW
M53?_``DU^04GQK_FK9GH_<^3W)U[LOY2]6;LZ\Q6T-]468QE=NGM'KG*R[BV
ML]2M+MJ3&T^6P%-@MU4*QU<U##%4U<E,)Y*H)#+[KW7U%JBG@JX)J6JABJ::
MIBDIZBGJ(TF@J()D:.:&:&16CEBEC8JRL"&!((M[]U[K4K[N_P"$HG6><^0F
MYOD/\5/F_P!T?$3*4N6VWO3IC8.Q-A;.GV;T]OS9=3D<ELZHQK;=R&QJG-[6
MVQE,@[4,%5&V81)J@U.3K)JB65O=>ZM#_EK?/WNOL7M+M;^7E\_]I[;ZY_F'
M?&;;6&W1FLELQZG_`$5?*WI&OFIL/A_DUTH]9C\5,F'K\M-%39['?;Q+B\E4
MHBQT\AJ<=C?=>ZK._P"%E/\`VZ:V=_XN#U%_[P7;_OW7N@E_X13?]N[/DG_X
MN'G/_?/=3>_=>ZV=_G5_V17\L_\`Q7+N;_WWV?\`?NO=?-KE_D3U'RI_D.?&
M#^8?\3]I5.0^2'6^W^X6[UZWP%,9\AW;UMMGN/L"*+=6W\;"!)D.S.OL+`;P
M1AZK-8B$4\0EJJ6CIY?=>Z"7_A.U_/)S_P#+$[HBZ/[PSV3R?P@[GW+`^]<>
MZU&3;IC>^1CI\93=N;7HQ.&I<=(L4$6Y*:G1VK<?`DRQR5%+`I]U[K;I_P"%
M66X<#N[^6W\=MU[5S6*W)M?<_P`L_C[N';>XL%7TN5PF>P.:BK\EA\UA\I0R
MST62Q64Q]3'/3U$+O%-#(KHQ4@^_=>ZMB_FX_+?*?"'^5U\D_D+MJNBQV^-N
M=0Q[>ZZK)X&J8*;L#?$5%M+:E3+$DD3%:/)Y=9A9AZHQR/J/=>ZT6_\`A''T
M-B^Y_P"9#W#W]O=9]P9CH3I?+;HPN1S*OE99]]]G[AAVQ+FJJLK7EDDS28J;
M(S+4.7F$KE[ZCJ'NO=?3Q]^Z]T4OYU?$38WSP^)O=WQ/["KCA,!W'LVLVY#N
MF'$4F<R&R\\LD-=MW>>'QU;/20SY;;69I8:J%?-"7,90NJL3[]U[HPG7FU'V
M'L#8VQY,K-GI-F;/VSM23.5,`I:C,OMW"T6(?*U%,LU0M/-D6H_,\8DD",Y&
MIK7/NO=*]E5U9'4,C`JRL`RLK"S*RFX((/(]^Z]U\3OY54V__CG\X_E#%D.R
M<IM3LGK/Y9[XK,=C]QY>HW5OG=&6P._-V4M;)O/?>WX<#DXHJ*?%T\<T.2;'
M15M/DGGIT">1V]U[H??F=\\MU_,'$[9P'7/Q4^/WP)ZMVDF3W7V5A/CAB<%@
M<1\@,U19*2@P.Z>PME;<3:&S>ZZG:-!YEIYWP^1J46;+U9J&IY&I8/=>Z([\
M9_D5V3\-N_.DOECU5%B5W1T=O>DW9M>BW6-Q4%!E\G]IC:_/[`JL#@MVS9:F
MV3DJ'<M4L-3KQ8R5)/.QD\UZ=/=>ZV5_E[_PIP^1G\R/"="_'O!]-YKX1[*S
MVX*[=?9/9/7GR:W_`(;,=@4^WMI;TPLDF-WMMS:W553LC8.W-PN^7EI*S(UF
M/_B.(I?XI7+0053-[KW5[/\`PE^_FS=T?)BG[7^`'S"[#C[.[[Z%VSC.Q>HN
MTZK>^"[+S?:'1U748W%Y*DW%V+MK)YS#;[W#U]D\WBU;+M73UU?3998ZF]30
MU,K^Z]T=[^>Q0M\;MX_R[?YI>RHI,7OCXC?+WKKJGMO)XZGACJ-V?$GY-Y$]
M;]M;.SDR4[RY..ER5;0OADJ3)3XVNR%14PHM0X;W[KW15/\`A93_`-NFMG?^
M+@]1?^\%V_[]U[H)?^$4W_;NSY)_^+AYS_WSW4WOW7NMG?YU?]D5_+/_`,5R
M[F_]]]G_`'[KW54O_"7H!OY)7Q#5@"#+W0""+@@]W]A`@@\$$>_=>ZUA_P#A
M47_(8EZ.W!NK^9'\0-FZNFMVY>7+?)[K';E&H'5F[,Q4:INVMN8>BI41.O-S
M9"0G.)&2V*R<XJM)HYYWH_=>ZU]=A_S0.Z=Y?!G8'\M#LW[K?/7.S_DCU3VC
MT=NS(Y9VR_5]#BLY51[BZYBII::0Y+9N9GS35M(AG5L;5(ZQ*8IW">Z]U](7
M_A21UMN;LW^2+\GZ':U,E54;0VOUOV3EXV8ADVSL'=FV]P[BJ8PH8N])BZ22
M6WT"H2;`$^_=>ZU2O^$57;^V]J?-[Y+]09BNI:3-=M]`463VC32(_P!UE,CU
MYNVER>7I*>3S"-4@P65FJ'4QLQ$5P0`0?=>Z^E'F\-B]QX;+[>S='%D<+GL9
M7X;+X^<N(:[%Y2EEH:^CF,;)((JFDG=&TL#9N"#[]U[KY7G_``J(^(W6/\O+
MYK]6;8^)E?OSJOKGMCI&CWS7=<X_LCL+,;?V_N+&[GS.W*ZIP%1N?=>=RU)2
M9>"BBE:D6=:2G=;01QH=/OW7NM]/^2)\1^BOC;\"/CWO#JS:^3H=[]Y=+]8;
M\[=WIN#=NZ]W;CWWNROVU3UL^5R53N3,Y*EQR++6R".EQ\-'1Q*;)"OOW7NK
M@_?NO=?(P_G19W!=I?/_`.;'R:Z[V-UW6]593Y"YK;^$VGO&I[,BVUV?F>F5
MVYMS?W8NTLSC,YM?9F:W;NZNH!597;QKUW)%A*U:FCI32M+-#[KW5.&)W-08
MJJ^PVCU3U5E=X;DW#T_G-D4>8=^U=PXW-4]/4U-908K%TBU'5>5P&^Z[)PPY
MO;.Y<?73T;QT]-%!!)'5F3W7NGWLWK/L#KONCKW%]Q;V;;=5N/#['K6SE/0;
MYBFZTVAF8_X3CMO9/:6]Z38.[=LT&T<7`]*,64I:>/'0C[)Y:4PN_NO=+NLS
MM%4=T_&S$;"VQB-_;I:@ZTJI]N=?[%QVZ,-EZGL5VR\>Q<?UMN+;7<$>Y]_;
M4V7N+&;:BK),?DJU*O#17IJZLA2ID]U[JVW^3+WEF.NO^%!'Q)_AL>0P>'K-
MR;CZ(S>WJJ@HH=Q_PW>G5F\,94[6W_DDV-UCN;<^8VEOW)PZJC<&.CS5&,53
M4M0"E%'`ONO=;I?_``JAR])GOY:&W/C7CY1-V+\POEM\:.@>LL13J*O*UVY:
M[?L&\VJJ3%K+#)5TU)3[0\$C,\4*SU<$32H\T0;W7NJLO^%@'\PKXB=@?$;;
M7PIZV[IV?V)\C]N_*O`9WL+KS9]><U6]98WK?:?9.!W/%ORLHXI<;M_/0;CS
M]%1QXR>9*Z0R22B/QPNWOW7N@E_X1Y_S"?B-TGT1W9\1NYNZ-G=5]T]@?)/!
M;OZOV_OG)QX&'LU-^;3VAL'&X#9>0JU2@RFZ*?<>VDB?'^5:J45\#0QR`2F/
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M:*IHZAU/Y%[BQ`/OW7NOE_\`SC_E1?/;_A/S\W]N?.+XC[7W=VA\9NNM^2;Y
MZY[4VUCLMN6CV=M:IEF_BO57R$QN)-7D\#B'P]3)BY<K7+_"<I!)&ZU`K"U/
M'[KW6V_\4?\`A5S_`"F.]NKL3N7NGM[+?%3M&#'4S;QZN[(V+V%N.&CRBPQB
MOEVCO7K_`&CNC;NZ,"U66%*TCT.4>,:I:&'W[KW6H]_/K^3&V/YZW\P'IW"?
MRN^NN\OE`>M.HGZ]KJ_:W4>ZJ2'.UM3O+)YE]QXK&Y"F@W)A-E4$&3C2JR>X
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M='4-`/=>ZM/[&^('P[ZOV+1=2X@5>![2V1O;(;.W;\D\[2[:S^PNT]Z5E%N`
M[%Q\N5WOW;U]MKI;K;/S=;Y3)OF%H<WCJO:N?I1/#63(K2^Z]U4;WO\`(6F[
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MS_\`YQ?\P#J'^:)_,=Z)S'Q,^+7Q`&3RWP>^(.ZX,S3[CR79>;%%/3]K;EH=
MUX#;^Y,G!A9:*CRBYZIQN#&4R.,P_P##J04--5-+[KW5J/=7_,V^QO\`P[\W
M_P"YLOOW7NFCK+_F8VP__#PVY_[MZ3W[KW1N/G'_`,7#K'_J#WG_`-;MJ>_=
M>Z"GXD_\SDQG_:GSG_N!)[]U[JUWW[KW5>W\T'_LD7<W_B0.G_\`WYNV/?NO
M='_H?^`5'_U"T_\`UJ3W[KW7.J_X#5'_`"PE_P"M;>_=>Z^._P#SL/\`LOFO
M_P#$A9S_`-[!/?NO=?1?_P"$_?\`V0CC/_#MR/\`[CT_OW7NKR/?NO=5,_++
M_F=N<_[4FV__`'7^_=>Z+8_Z&_X*W^]'W[KW0Y[P_P"/(K_^UWLO_P!XNF]^
MZ]T!WOW7NA/R/_'M57_:FVA_[SVV_?NO=&F^#?\`P)[/_P"6&R_^MF[/?NO=
(6!>_=>Z__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>j08110324_ca001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca001.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>j08110324_ca002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca002.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>16
<FILENAME>j08110324_ca003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca003.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>17
<FILENAME>j08110324_ca004.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca004.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>18
<FILENAME>j08110324_ca005.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca005.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>19
<FILENAME>j08110324_ca006.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca006.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>20
<FILENAME>j08110324_ca007.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca007.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>21
<FILENAME>j08110324_ca008.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca008.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>22
<FILENAME>j08110324_ca009.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca009.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>23
<FILENAME>j08110324_ca010.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca010.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>24
<FILENAME>j08110324_ca011.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca011.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>25
<FILENAME>j08110324_ca012.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ca012.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>26
<FILENAME>g110325ami001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g110325ami001.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MP``+"``P`&<!`1$`_\0`'P```04!`0$!`0$```````````$"`P0%!@<("0H+
M_\0`M1```@$#`P($`P4%!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$(
M(T*QP152T?`D,V)R@@D*%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%56
M5UA96F-D969G:&EJ<W1U=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBI
MJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W
M^/GZ_]H`"`$!```_`.WU'XFZ!I%\MCJ,6H6URX!2*2S;<P)P,>O-;T^LQV^D
M?VE)97VP<M$+<F51ZE!S65X<^(7AOQ3>O9:9>,;A5W".6,H6'?&>N*V=6U2+
M1[![V>&XEBCY<01&1E&,DX'88JOH'B*S\267VVPBN1;G[DDT)C$G7E<]>E4]
M6\<Z'I&H#36EFO-0/_+I90M-*/J%Z?C5.;XD:'9*W]J0:CI;A2R)>V;QF3'9
M3R"?;-=6K!T##HPR*XCXF:U)90:5I44SP?VG=".29'V[%X'J,C<RDC/(!%<;
M>Z%9:%87&K:9J>HQWD$9F6-KQ2(OGV;`%;JQP1]X?7->G>#?$D?BSPU;:JD9
MB=\I+&?X77@_AW_&LS6?$OB31/$2Q/H#7VCOSY]E&[R1KQDL.F1SQZ"NHL;^
MTU.SCO+*=)X)!E70Y!_P/M7CWQ8_Y*EX:^D/_HXU[._W&^AKYYF\!W\?A#3_
M`!IX=DF%U$9)+B.,_.NV1@)$^@'(_P#KUZ'X*^(]OXP\/7=C>E(=7AMGWIT$
MX"GYU_J.WTJ-=?F\-_`JSU&V.+@64<<3?W68[<_AG/X4OP3TJ&'PG)K+CS+W
M4)W,DS<L54X`S]<G\:Z#QCJ?A6;3[G0O$.H06PN(\`2@@J<<,IQC(ZUL:)?V
M6HZ7#+87:W<**$$R@@.0!S7G/QNM9A_8M_%D"-Y8BP3=@D`CCU^4_EWK@M4\
M4WVN6`M/LJ1,0K73;2S7,@7"D@@!,`$XSCCVJYX'^(%YX/M+ZT@TU-0AD;SN
M)MGE,%P<\$8X[5W'@7XA:GJ&N0:;K4B2QZC'OM90FTI)MW%#@`$$=#[5V-K!
M#I7C&:"`;(]5MFNFC'W5EC95=@/5A(F?]VO*?BIJNGS_`!+T&>&]@EBMEA\Y
MXW#*F)23DCVYKVB?4]/BTYKY[VW6U"D^>9!L_/I7,?"F_M+OP'8Q07$<DD1D
M$D88;DS(Q&1VX(KBOB9\-IM-G?Q3X75XMA,ES;P\&/U=,=O4?TKJ--\/#Q3\
M%;'20X22:R0Q.>BNIRN?;(Q6#\-/$R^#HY_"7BM3I<L4K/;RW`VQL#U&[IUY
M!Z'-'QJU;3-9T/3[#2[ZWO[S[6'$-M()7V[&&<+GOBO2-)D_LSPA927*-']E
ML(S(A&&7;&,C'KQ7D7C[QU%KMM#%<P6\4$$A(@2Y$KERN0S``#@9'!/)ZCK7
M)6NB.VGVVH7MW$\38=[8%B_E@%@2<X/!)P/2J]G`+S5;JST::WCAD0NTLWR"
M,9Q\IZ]\=^M7M+N[71/%^BBZN"%TR:,RO%F08ZMT_`8'O7N/AZ^D\2Z]-KRV
M<]OI\%O]FL6G0HT^Y@TC[3R%^1`/7!K?&FV`&!96X'_7)?\`"I/L=J8!!]GB
M\H'(CV#:#]*(;6WMV+0P11EN"40#/Y5*1D8--CCCAC6.)%1%&`JC`'X5'<V=
MK>Q^7=VT-PG]V6,,/R-16>DZ;IYS9:?:VI/>&%4_D*MD!@01D'J#5?\`LZQ_
MY\K?_OTO^%.-E:E0IMH=HZ#RQBD6PLU.5M(`?:,4L=G:Q/OCMH4;U5`#4]>;
M?#[Q#K.NZG(^HZGJ$JI/-&(18*+?"],R@=?;-./BO6O^%8OK/VP?;AJ/DB7R
MU^Y]HV8QC'W>*DO_`!?JNF?$#4K6XF4Z+$D,`)0?N)I(RR,3C."RE>?[PJ)-
M>U_4M#\&+%JS6ESK#.MS<)"C$X0L.",=JMP:_P"*!IWB?2HO)U#6M&V"WGCB
M"B8.NX93IN`SQZUJ>!=6&J6%P'UFZU"YB<":*[ME@EMF(^Z5`'N>]=311111
M167X?\/67AJPDLK`RF*29YCYK;CN;KVZ5CGX<Z,;LO\`:+_[&;K[7_9_VC_1
M_-SG.W&<9YQG%:%YX0TJ_?6&N5DD_MF...Y4OP`@(4KQP1G/U%59O`FFR:7I
M5A%=WULND9^RS03!9%R,')QZ&K5CX2T_3-)NK"QFN[=[MM\UXLY-P[_WBYSS
F4F@^&K30'NIXI[J[NKUE:XN;J3?))M&%&<`8`]!6Q1111117_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>27
<FILENAME>j08110324_ba001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ba001.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`(@`B`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_OXHKX@\
M;_MJ^%;'XR_&CX*_#NY^#^K:O^R1X?\`V>_BS^VCXQ^+?QST[X1_#WX`_`+X
MXP?'36-3\1R>(=#\&_%>YF^,'P^\$_`^3XG:E\*OBMI7P.\%ZC\,_B#X"\:7
M'QNT+2-6:6,^$G_!17]D?X\?&6/X/?!GXL>'_BI;:IX?TV\\&?&[X;:KHGQ#
M_9J^(OQ">#Q[KGBW]G;P3\>_`^K^(?AWJ'[3_P`-/AWX&3XS^.?V?=1U?2?B
M9%\$/%6A_%GPQH/B?P3HWQ#U?P,`?7_BSQ9X5\!>%?$WCKQUXF\/^"_!/@OP
M_K/BSQCXQ\6:SIWASPKX3\*^'-.N=8\0^)O$WB'6+FSTC0?#^A:19WFJ:SK.
MJ7EKIVEZ=:W-]?7,%M!+*OX0_LI_\'#_`.RQ^UIK'Q3U7P3\&/V@-'^`OA_]
MK_X&_L9_`W]I7Q%8_#KPU\-OVE?BG^T!X[^%/PV\$>'?AUH/COQ]X)^)MS\0
M+:]\;>.?C3XN^&6A^!_%OB/X>?LG?#>#XQ_$F7P9XZ\=Z!\$8/'_`/@X-_9F
MU'_@I;XJ_P""?_\`P3:^'WC'P_KVKWG[3_@']J[]J;X.>$]1\*Z#\??!7[$O
MA;4;WX#?$;]J3PSXW\<>,+?P1X2\/^`+GXRZMX6T;P'K7PS^(?CCXV^-->MM
M7^%FG7FD?`/XP:!K7D'[/O\`P0<_:_T?XV?`#X0_&+]J'_A37_!+C]@'_A:N
MI_L0_"3]A7]I+]H#X4_M'>._'?B[XNZUJ3?%+]L'Q[J/P_TK4[[X@?&CX)?$
M;XP^#/CCJ'P"^*GPWT?P)=>//$'A3]ES0O@WX'\:^.(]8`/ZO:***`/S`_;%
M\$?!/]GWQW9_M9ZS^S?_`,)]\/\`XW_:/V8/^"AUSX9C^$6@?#:\_9Q^*^C^
M&/#-I^U?^VIX3\8Z/8?\-$_#_P#94_X5WX9^&&HZSXL\5O:_LY_LG?'G]J/X
MB7.FZK\/]#\5:,WYP?\`!17]@_QQ^TAIWQ8_9T\0_&K]I_X=ZO<_LP:K\-_`
MOQP^!GPC_;:_:%T[X8_L>^`_%6K^.[S5?&7BV^^+7A*Y^+7Q@_:'\$_\)C^Q
MG^VI^Q[H_P`8?VUOCG^WWXJ\*?L(?MM2_!WX6Z1\(=4\'^`OZ/O%GA/PKX]\
M*^)O`OCKPSX?\:>"?&GA_6?"?C'P=XLT;3O$?A7Q9X5\1Z=<Z/XA\,^)O#VL
M6UYI&O>']=TB\O-+UG1M4L[K3M4TZZN;&^MI[:>6)OP!\>_L,_M/_LY?#W4O
MV1_`7P^^,'[8O_!/P^(([G]DOQ+\"_VI/#_P(_X*H?\`!+.?4OAG\6]".C?L
M]_%_XW>)OAQX(^,?P?\`AK<WF@_#KX+^)O%'[2'@CXR^!?@M\7/&_P"SS\3?
M"?[3?P#TJ_T#50#S_P#X(&^`/A[\%/%7[1G[/?Q8^!'A_P`"_MX?!#Q!XGT;
MXC?'OXW>%OAG=?MY_M+:=\4M1\%?M%_%GQ9\5?CQ\--4^*W@CX[>'[JY^-/[
M.OQ;\1VW@K]I/XD>*OV?'^.WPF_9J^/?AG4;_P"%?P;_`&OOVV/Z7J_,#]B_
M]EGP=\)?&/@GQ=\+?V8?B!^R-X2TSX?_`+2OB/XB^#OCO!\"?C;\=OBU\=OV
MLOCM\._$WB[Q_P"//VM/#O[1_P"TU\;=:^(&BZ9^S+I_B+XD6>N_$7Q1X.^+
I7@[XV_L]0:GXUU/Q;^S7!\//A+^G]`!1110`4444`%%%%`!1110!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>28
<FILENAME>j08110324_ba002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ba002.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`(0`@`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_OXK\X/V
MF_\`@J/^S5^S3XJ^*7P^E_X2#XN?$3X!^'_AGXR_:(\.>!/$WP0^'GA7]G;P
M7\8]1O-$^%^M_'+X_P#[4OQB_9T_9<^&WB#Q_KD>CV/@CX/>(?CE;?'WQMIW
MBG0/&O@[X3Z]\.VU?Q?I/G__``4.^/GQ]\0S^*OV*_V'OA[X@^)7[4</P?\`
M!W[3OQ3M3\0?&G[.?A73_P!F"S^,MIX;UKX+^%_VI=)^'GB[2/AS^T_^VII'
M@?XR?!']GB?3?$/PX\0?#33O#WQ<_:+/Q@^$^N?!SX?/XY\@_P""<W[)WPL^
M(_[./[-7CSQ_^S3\0/V1/VLOV3_V@/B-XROO"EQ\&_#GP9T?]G/X[>(K6/P7
M^U!\)_V.O"R>'/$7P%E_8`^./@6_U3P)X8U+X$-XP\'?%_P)KUG^T)XI^)>K
M_P#!0RQ\:?M#Z*`?7^B?\%#OAMK?C'XZ>`8/AM\0+GQG\$/[7\00^"/!_P`0
MOV3OC)\4_C!\(O!/QV\4_L]_&#XZ_!WX%_`7]I?XJ_'K6OA_\$O'7@WQ%9?$
M+PUXN^%_@GXV7OB/3;KX-_#KX2>/OVC;:[^"]O\`7_PM^*7@3XT>!-"^)/PV
MUW_A(/"7B#^TX+:YGTS6/#^L:5K'A_6-0\,^+/"/B[PGXFT_1_%O@3X@>!/%
MNCZYX)^(OPZ\;:'X?\=_#GQWX?\`$7@;QSX=\/\`BWP_K.C6/X@_L,?#S]K'
MXB_LL?%']J3_`(*<_LE_$#]HS]HWXS_\(3KMG^Q_!XQ^&WC7X6?\()\1_AUX
MNBM]0^`W[-7[8OB;X1>!?V,?B!X3^`O[8GC[]AG]K7X6^-?B#HNL?%/PY^R[
MXE\3>(]3^*GC/XO^)_%/QH\__P""84>L?!C]H[Q!IOB3QO\`\*H_M_\`:`_:
M_P#V&OV@OV=[31_'>J^!/BQ^W%H=U9_\%!OV6_C7\/?'?CK]F_X7?&7XT_$#
M2?\`@G+XO^*OPD_:=_;Q_:-D\`^+?VW-8^"'P3\>W\WQY\SX9?&GQD`?;_C;
MXH_#W2_^"DG[0_P&\+_$7P_\,/VL/CS^Q!^PIHWP\N/$GQT^&?@_Q5XJ^'ND
M_'G_`(*/R>./%G[.7PH\9_!/XI7/B[XP?LS>"+OXF_&._MM>T#XK?#/XAZC=
M_"KP1X]\,_![P=8>+?B)XG/A[^V=^SQ^TQ\?;?\`85_9^\->'_VK?A3XE^#_
M`,?OBO\`MWZM\4/%OQ;\3P?LTZ=\3?&DVB^%_P!F7XR?#[XJ_"OQ_;6_Q@^,
MOC;Q;\7_``I>_L2_&GQQ\#?%7[.?P:^#'C[PU=_"_1/"WA+P5\++H_X*&_\`
M!+_PK^V-\0OA+^TOX)\7^(/AQ^TM\`_#]UX8T>/0=?T[X>>"_P!H_P"&<OQ,
M^''Q7E^`G[07Q$\/?#_Q5\9/#'A_2_$GP\GU_P#9V^,_PNU2+XA?L4?'WQ39
M_M@?!?PYKWQI^''@ZW/\T7[3OQ^_:=T6UN_C!^WW^SM^T!^R5^T!^S9_PI/P
M1XI_;2^*7B']M/X`:Q;_`+./BW]H[X>_%WX@_LWZ[_P4C_X(B?LW?$W]F7]L
MWX?_`!RT6QT[X7:9'XH_9O\`V'K7]B[QW\2M/T_X?:/^U#^T!_PLOXCV8!^_
MW_!2+]M/X63^#KG]G*?]IO\`:_\`V3?V@+OX@?%+P[J?[-'[(7P7\.?%G_@H
MY^U5\+-+^!/Q[O\`0HOV1M!T_P`*_&K_`(1#X?\`Q1_LGP[\5_"'[9GA'38?
M#GPOU3P!K?P.^(OQ-_9P_:`T?XI:3\'OD#]C_4-8^(7_``4G^&O[,TFF?$#1
M?C;^SO\`$#X\?\%AO^"G^I^+M"\=_%K1_AG^UC^VC\!;W]GS]D#_`()_^'?V
MAKOXI7OPW7_AGW]CC]HS4O!T&O>`O!]Q\-OB9X$_9+^'6H_"30_"6IWGQM\/
M?#W\H/V7/V@_^"F7@GXF?!WP[_P2J_87\0:YXW_:P\0?![Q9\9/VMOC7\,?^
M"H7B3_@G5XO^&<?P]^/OQ4\2^)M/_:7_`."@/Q;U/XX^,_@_\3?CC^U9\3?V
MQ+76?`OPN_8\^(7A#XH:=JOPMT2Y_P""CMS\9+;XF^-OZ??^"7__``2X^'O[
M!?A7Q?\`%/QU_P`(_P#%S]O#]I3Q!K_QD_:[_:<U+PS\,[CQ5K7QE^,>G?#_
M`,1?'WP#\)/&WA/X._"'Q)H?[,&I?&3P=>?$'P'\+]4T6V@TW4=2DU:^LH;]
1K:TTP`_5^BBB@`HHHH`__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>29
<FILENAME>j08110324_ba003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ba003.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`(``@`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_OXK\X/^
M"H'_``43\*_\$TO@%X0^,_B3PGX?\6W/C_XP:!\(?#T?CGXGZ=\&OAGX<GN/
M!?Q`^*_C'QG\2?B)+X:^(/BG3_#_`(4^%/PF^(>KZ'X4^%?PF^,OQE^*_P`0
MK?P3\'OA3\*_%OC;Q_H]O!S_`/P56_;F_:._X)[_``)\-_'[X%_L5?\`#;/A
M]OB!X0^'7Q"\$^'/CC=?"WXI^'-8^*OC'PI\-O@[/X`\#6OP5^+-[\8_^$V^
M)OBS2/A[>^'?"UQ9>.]*\1^)/!4VB>$?%_A_4O&&N>`/S!^)_P#P0T\1_M/?
MMQ?#?XR_\%)/^"@__#8WB"Y^('P_^*WA/]E'PC\/_A9^R3\$[3X$_LJ^+?B]
MXWMM%\1?LVZSIG[5=[^V1\/_``#\3?VH_"7P1GE\?^+?A[XQ\!_"+]HGXBIX
MS_:`\;>(/&GAGP=XI`.?^.__``<%?$+XY?LP:I\5O^":G[&W[3_B7PMJ_A_P
M!J#_`+1_QP^%'Q,^!WPSL?#_`(G\0>%M,^,VJ_!KXZZC^SW^T)^Q?H?B#]ES
M3H_C!X;^.WQK_;0^*GP8_9?^`OQ"^'<7Q#TNU_;+^%.B>)_".J_T>_`&V^/M
MK\&OA[%^U+K/P?UW]H-O#\-S\5K[X`^&?&GA/X-0>*KR>XO+C1OA[I?Q$\6>
M-/&UUX?\.6T]KX>A\3>)-8L]1\:3Z7<>,7\)^`H]=C\"^'/P!^*'[>7_``3T
M^#'[0_[$O_!*/]HC6OV8/V6_!/P$\/\`[3=KXO\`A'\?O$/@']H+X>Z)^SQ\
M,?A)\5_V0?V0?@I\0OBS\4-!UOP=\%/$'[9/[)WQ0N?VH)M5\:?$_2_BWX:^
M&?A"W_92^*NG^,K;]KVSO_$_W_\`\$??VUO@U^U?^R^/AIX%_:-\/_M)?%;]
MBOQ!JW[)?QR^(-MXXG\<>*OB=J/P4\0>(OA9\/OVI=9U:^NM3N=;\/\`[8_@
MGX?V?[0OAGQ1I?B;XC>%9=1\7>+/`-C\6?B-XI^&_C76E`,#]K;XR?$75_\`
M@H)^S7\+?A_^R=^T!^TAX?\`V-_A_J'[:WCZ\^!OB/\`98\*:QI'Q3_:&\,?
MM#?L=?LTZ!=7'[2W[2WP.LO$7P_O_AE%^W7KOQ-TKPWI[>(](\=Z%^S9J>E>
M*QX?N?'WAC5_A_\`83_;C^&=KXT^"'AOQA^SC\'_`((>%OV:_P!M_P"+_P#P
M08_9M\;K^TC\0K?Q!\*?"MU\`I?VDH?@?\1_A_\`$#0]<\$Z_P#&#PM<_LJ?
ML:?L:>(-9\-_M`?';3OC3^U!IOQ.\8?L_P#Q/F^%.H^"(?CM^_VL_L]?`+Q'
M\9?"?[1GB'X'?!_7?V@_`7A^Y\)^!?CMK/PT\%ZI\9?!?A6\@\36MYX9\)_$
M^^T6?QMX<\/W5MXT\8V]SHVCZY9Z=/!XL\30RVS1Z]JBW7P!^U?_`,$[_B9\
M=O$'PP\.?#O]I'Q!\$OV3O@SX?\`V5U^$7[)/P-\._#WX&Z=\*/C?^SE^U!X
M`^)WA7]I+0/B>?AM\8?#?C?P_P#"_P"#?AF3PAX$_8D^*_P`\9?LU>*?%7A?
MP1K=Q<?#3QCIGA7XK?#8`P/V6M/_`&CI;[]KK]I#]FC4_A_K7PR^)_[0'[2?
M@SPO^P?\9]=NOAW\.OA_^T=^SG^V3\3OV8/C/\=_AG^U#\,_A;XX\0?#+X?_
M`+4'A_X2Z]^T7\4/@-JW[,'Q?NM3_:G\9>*/'EA\7]!O?B/\4/$'BC[?_9R^
M"GBKP)J/Q5^,7Q?U#P_K7[0?[0WB#PWXD^(Q\+W6HZ[X+^%_A7P;X5L/"OPU
M_9R^$?BKQ1I6D^-M9^#_`,*[9/$OBL7^NZ?X7T[Q]\??BQ^T/^T#H'PJ^",?
MQTO_`(1>#OS@_8X_8#_:_P#@W\=O@/\`$O6OBA_PS_\`#+X0_#_QGX'^-WP4
M\+_MD?M`?MW^'/V\]8\=^#M*M7^,?Q0TKXR_!']E#X/_`++W[0&B_&#PO%^T
I+\3/C3^S_P#`[6/'?[5WQ3^*_P`9]:^*VJ^&;WQ;XMU#XA?M]0!__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>30
<FILENAME>j08110324_ba004.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ba004.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`(``@`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_OXHKP#]
MI#]H31_V</`FC^*[GP'\0/B]XM\8_$#P1\+?AC\%/A"O@2Z^+OQ9\=^-]8CM
M5T+X?Z5\1_'?PU\)7_\`PAWA*U\6?%[XD:GK/C/0]'\`?!/X:_$_XJ>)M0L/
M"7@/Q!J%I^,'Q'_:I_:'^.'CCX8^%_@_^TA\'_&^K_&G]F!OCM\!K7]EC]J;
MX26'P"^*/[0_[-_[;7A_XGZ_\#_@2WC?X2>`_B3^W'X@\-_`GX=^./A5^T#%
M\.?V\/@W\)/BWX+\!^,_!7[4WP:_X):Z1^U7\'/CMH(!_0]17\X/[/W[<7_"
M#?M,>"_!NC2?\%/[W4_'7Q`_99^"7Q@_91^+?PU_X7U^SW\*O&/Q-_9[\)>'
MM,'P0_:;_:#TOX&?M6I\0/A[\+?!GP"_;F_:%\(_$?QE\3?CMI_[,_QZ^,WQ
M\^-7[!?@7XVV7[8GB?\`8?\`U_\`V3?VUOA9^US_`,+>\.>'=`^('PD^-O[.
M_P`0+CX:?M#_`+-'QNTKPYX9^.WP4\1W'VN_\%ZEXMT'PIXK\<>$M;^'_P`6
M_"5O!X_^#7Q8^'7C7QQ\+/BAX.NWO?"/C+4M3T3Q3I.@`'C_`/P4G^`GQ"^.
M7@?X%7'PY\1^(/"VK_#3XP?$O4)-7\#>)_B9X&^)ECJ/Q\_8E_:]_8E^'>J_
M#;XA?"GX,?'WQ)\*_$'ACXR?M5?#7Q?KGQKO_AGKWA7X"_#WP]XV^-_BBUU#
M2/AY<:+JOX`_$72O&G@7PK\;/A$OQ`^#_P`8](\&^'_A=\$/%_[)/Q7_`&%/
M@%\./`_B#XH?L_:=\"_V7M$^(WCK]D?PYXD\&?#;XB_!_P"+'QV_9?\`V(_B
MG#8_"OP9_P`%&_\`@HK9?L2_M^?L9?L[?\$YOV6?V&=7^)'P`^+_`.U/_7[X
MF\)^%?&FG6VC^,?#/A_Q9I%GX@\)^++/2_$VC:=KVG6OBKP%XJT;QUX%\36U
MCJEM=6T'B#P7XV\.>'O&/A/68HEU'PYXJT+1O$.CW-GJ^EV-Y!_-%\3?^">'
M_!7#X/?&RYUGX2?M0_\`#4/[.6F_#_\`;/\``?P>?7=6\;V7[<7P7^'7[5_Q
M=^$OQVUO]GK4/CQ\6/VE?#WB#XE_#_P%X?\`V5_`7PX^%OQWD^/OA?\`:G\8
M>+?BKJ?P5TWXD?L3>#-:\&_\%"/V&@`'[/'@3Q1X<_;T^-^B>%OA_P#""]\2
M?\+M_98^!=S\<O"FL?&3X=:G_P`%)_\`@I)\4_%WAG5T^)WA/6_&G[?WP?\`
M%GP__9D^,'[6_A;]B:[OO@7KMQ\!?A_^U/\`&3_@N!H^K_`_PW\,OCGXIT:7
MG_\`@@UJ&HWG_!1__@L[8^(=5\0:MXV\(_!__@BK\-OBB/&?QK\*_M'_`!"T
M+XR_"O\`8@\6?#;XT>"?BI\>/!-KI_A;XL_&#X??%;PIXQ\"_%[QSH^EZ-!K
MOQ,\.^*[R70]$N7GTFS^?_!'['W_``6R^*OQOT+0OBG^S#\'_@'\*?%_A_X$
M16WAN+]H/]H/QM^PU^R+IWP\_9J_9$\'PZ#\"?V?_P!G/_@JU^S3;>"/$'PV
M\;>%OVB?B?\`!JR\&?L?>*?%7[.7[8W@GX'ZI\(_VO/%_A;7M#_;+_9R_I^_
M93_9#^#7['GPS\/_``[^%UEX@UW5]/\`#YT;QC\9_BAKT_Q!^/OQDU&\^(7Q
M-^,/B'Q9\9/BSK$0\2>./$'B7XR?&SXT?%>]MIY+/PKH?C3XL^/KCP3X9\*:
(1KTND1@'_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>31
<FILENAME>j08110324_ba005.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ba005.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`/@!%`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_OXHHHH`
M**_('XB_\%\?^"0OPU\=P?#:Y_;:^'_Q*\6S?#_Q%\4GMOV;_"/Q8_:RT>P\
M">#M'\7>)O&FNZQXL_9?^'_Q>\):%_PA'A+P'XL\;>-],UG7+#6/!W@31Y/'
M/B;3]+\)75CK-UW^G_\`!3G_`(3;QWJ?@#X*?\$]O^"G_P`8+W2O[=O)O$>H
M?LG?\,I>!+GPYHFC_"V]C\1Z9XU_X*!>/OV0?#^J_P!N>(/B3JO@K0O!6GWM
MQ\4[G6/A+\4O$=UX`LOAE9>#/'_C8`_3^BOS`\7?$7_@L1XCUCP[KGPA_96_
M8`\`?#^Z\C4-0\)_M#_MB?'*_P#C9)H]WX[^'6LVNF>*;;X*?LC^,?A+\-?B
M!:_"6P^*G@;Q7H7@SXD_M'^!-!^+OC'P7XV\*?%+XE?#_P"$VJ^&?COZ!^PQ
M^V+K'Q__`.%H_L]?'JS^'_@S]OK]D3_A"?#O[:7PD^$]QX[\1?"SPIK'Q(_X
M2[4O@S\1?AIX]\6^&-&LM=^'_P"T5\,O"=I\<?!OA&'6O$OCOX1^'/&&F_#3
MXP3V/Q%\/ZQ'<@'W_1110`4444`%?A#^WAHWQE_;X_;S^"O_``3E\"^+/C!X
M7_8/\-?!_P"+GC[_`(*LZY\/;:#PQX'^+FG:T_PEN/@A^P];_M%^%_#/B?QO
M\//C!XJMM4L_&_Q^^!^E^+_@7XJ\;?L2_&>;7+'Q;K=AXRT*&S_=ZOX@_P#@
MJ_JW_!3_`/X)U?M'?&_]H#X*:#^T!X6LOC-\0/B)\>?'7_!1K]B;]FCP!^TO
MH_BK]EBTNO@/X=F^`/[?'[+/Q7L)/`O@/X@?\$_/@+\/-5E_99_:;T_XK>`_
MAUXX\":?XKT6Z\'>'OB;^T]^V;\=OAF`?O\`?MM_&#X)_P#!&W]D[PKX@_96
M^`O[('P(TSXJ_M?_`+.'PP7PSJ=W\(OV1OV<;76/C-\2?!/A/XG?$CXI:SX?
MF\*ZGIW]G?!+PKXB74/B!\.OAQ\=/'?P^M?#VA?$[Q=\(?%_P2^%OQ'N?#OP
M!^Q?^UY_P7FN_@OX)_:$^-O[,'_#2?Q`^//[/_[2OC_2?V$KWX*S?L!^(_V?
M_BG\'?V^OAW\._`_@KQ)^T=\8_$OB;1;3_A:'[,O[0'CGQYX*\.?%?P)H7B/
MQ-\+/V2/`"^%;WQ=\0-4^-/Q<^*'X@>"O^">_P#P<M_\%F_@39^'/V[OCQ\0
M/@5\$OC=\0/`'_"8Z7\;G\*?`O\`X1CX6?LV^,?$D=__`,);^P[\,_@5X*\6
M^+OB!\2/%OQEO/'_`,&O^$C\:_!WPYXR_P"&6GO?CY]HTP?L1_$KPO\`O]XH
M_:C_`&R;W6/^"D__``2!_9U\<_$#X=_M]?LJ_L_Z+^TY_P`$^/VD/B+X9L?B
M9K'[5OP)U[QVWC?1OA_!'^T)X>N/AE>_\*?LM;^'/_!._P`1?M'_`!F^-OQ/
M\8_%KQW/XN_:/\7R/\1?!OQ/T?2@#X`^%W_!(C]LGX@?"+_@H'_P49^+?[%7
MP_\`#?\`P6N\5_M_Z9^U-^QEH_[2'[1UC\?]'\+_``)^#?QL_9,_:0^%'[/V
MC^-_`OQ+O?AEHGV>R^#_`(]_9J\$>+8X_@WXQB\"7,?PYU+QI\(_@AXDFDTS
MH/@Y\>OVVO\`@HW_`,%@?V2?VG?V=_A'^T_^RQX)\,_!_0OA=^U=\3/'O[#'
M@?P1\&OAK\&OA[>^'OB5^V'^POJ7[07QZT2V^+W[7WQ@\2?MO>&[;]EV/Q=X
M+TG]F"?]CN?X7_%OQ5\*O@+\8;;QW\9OBY9_S!?M`_%7_@I=^SQX5\(_M!^*
MOVX_VG_"OQ$^'7A_]E[_`(*A?L8:S^T/_P`%8=)^/$'BW]FK]K'3I_AQ\'OA
MC\-?V4/'GPFT+QM\=/VG_`UMXU^+OAW]I[XDG3O!WP0_X4UX&^-_A3Q5\%8O
MAW\5OAMJ7Q:_?[]EG_@L=\9?AO\`&7PI_P`%9]4\,_!^\_X)W_\`!9S]I_X"
M_LS?'CX7ZY^UA!9:C_P2R_:X^#D&E_LZGQCXYUK5M%L/!VK>'_BM^R=\,+']
MI7QMJ-Y\+OAKK>L^%=.^&WAWQUXP^'7A#X<?#;QE\?0#^YRBBB@`HHHH`*^8
M/VW?@IXJ_:4_8O\`VN_V<_`NH>'])\;?'[]F#X^_!3P=JGBRZU&Q\*Z;XJ^*
MGPI\6>!?#VH>)K[1]*U[5[/P_9ZOKMG<:S=:7H>LZC;Z='<S6.E:C<I%9S?3
M]%`'Y0?\$I?VG?"OBSX!?"[]D'QU\%_$'[&7[4?[*GP?\$_"+QC^Q]\49].T
M#Q4WA7X&^"_AU\,/$/QL_9OT+6/C!\8_B)\7/V(&^(ES>?"_X/\`[2NJ>+_%
M>G>/=1\+:A9WWB_7-<AEU35#_@I+\1_%7[.'QE_X)F_M*^`/ACX@\?ZOJG[;
M_@7]A3XNZIHS:BFG>$?V8/V]H!X%\4ZKXLOAX?\`%6A^&/#^E_M1_#S]C?QS
M;>)+G2]#\0:WXJ\!>&?@OHGQ`\)Z1\9/%5GXB]`_;Y_X)Y:=^V7XJ_93^.?@
M7XM>(/V?/VL?V(?C!#\6/V<?C1IMKXJ\4^%;;3O$6H^%8/C5\'OBW\+O#7Q'
M^%%S\2?@_P#';P1X6L_!7CW1-+^(/@/Q4=.CCL;'QE'X.U?Q_P""?'GD'[/O
M[3_[./\`P6(^%G[8'[$W[4?[*'Q`^&'Q-^"O_"#?"3]N?]C']HK1K6\_X1/6
M/B)X</B[PCXE^''Q4\$ZE+X?^('P_P!3\0>%_$.N_`/XZ^!M8\&^.[K_`(0;
MPS\;_#/A_P`!66O?"[Q+K(!_"%^T1_P3Z_;B\%_\%-?^"P7[3/P(N-O[37PJ
M_:`_;%\=_"3]E;0OV6_%O[7/CO\`:2^$7[2_Q/\`@7X1\>MI_AW4O@Q\2_V2
M_%WP_N?V2_\`@I+X6\8_%+P'JGC#XA_&SP/H_B'3-.\?_L]^$-%\21_$7PS]
M?_\`!'O]AWQ'^Q]K'Q&\)?\`!0N/]G_]D_\`X)5_MV?#_P`:_"_X[?"G_@K7
M\2OA9^S/^T=^V/\`\*9\=_'"7X-?&?\`9R_9_EU2S^)O[+7Q`^`][XA^#B>-
M?"_COXRZ]_PC5U\1;WXW?"'XF>/]5U?X'ZU\'_ZGOVB/^">&M^%?@T8OVF/^
M"]/_``4?^"O[)WP@\/\`PCMM'\>77QW_`&1_V7OB%X8\5:-/XH^',NL_&O\`
M;3\/?LZ^`_&WQ0\/^/K;QC\-_#VE>&?B/K`U'5/B9IFH>,?''BSXJ^,?&'@Z
M/X>?F!^S-^V[_P`$EOAG\9?&.O\`_!*#_@C?^V_^W)^T'XO\0:C\8?AS^VG8
M?L[>+O&VG?$7XF?M$P>,/A7)XR\2?MX_MI^/]=_:1^!?P?\`'/Q1\%?%WX0?
M%7XL>,="TOX>Z/XJ\$_M&^)8M$\7QZ?X\U+7P#]/_P#@DY\%OVN/V'/C[^TG
M^P+^T%^TGX?_`&AOV?/`WP?^!'Q8_8*T?P=X/UO3X/@'\&M=\:?''P]\0O@]
MXPE\5^)_C+\9/`'A_P`)>)+?P=X!_9FT3]HO]HKXL3_$3X-?#34;?X#^,O$,
MGP1_:+\'?!S]WJ_(']@A?^"D_P`=_P!H[XR?M6?\%"/V>_A_^QKX2\,?#_1?
M@1^R-^RIX=\=_`7]H3QWH.C^)[KPWXZ_:+^+_P`1?VB?!/@._P#%MU_PLKQ;
MX.^%7A_PCX+\%?$WX?>!)-'^'4X^)7P&UGQ;X/\`AW\9/$?Z_4`%%%%`!111
M0`5^4'[9W_!(#X!?M@?&7PU^T9X>^,G[3_[$/[0>F^'_`!=X3\=?';_@G_\`
M$/P7^S7\9?CQX5\4P?"RUL_#/Q]^)]C\,_$WC;XH>'_`]M\'O!UOX`T;6-<C
MT[PU!#<PQ6UQ''I:Z9^K]%`'Y`_"W_@B1^QMX0UC0O$?QNUO]H#]O;Q!:?#_
M`%/P!XRO?^"BWQ?OOVS='^*7V7QWJ'C7X3^-?&'@#XPZ3K/PRT+X@?LZV7BS
MXL^`/@9XC^%7@KX;?\(WX$^/7QSL_$=EXM\0?$G6_$;?J]X9\)^%?!>G7.C^
M#O#/A_PGI%YX@\6>++S2_#.C:=H.G77BKQ[XJUGQUXZ\37-CI=M:VT_B#QIX
JV\1^(?&/BS698FU'Q'XJUW6?$.L7-YJ^J7UY/T%%`!1110`4444`?__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>32
<FILENAME>j08110324_ba006.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ba006.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>33
<FILENAME>j08110324_ba007.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ba007.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>34
<FILENAME>j08110324_ba008.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_ba008.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`&@`:`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`_L9_:._:
M_P#&GPN\5>+_`(0?L[?LI?&#]LO]H/PI\'](^+>I_#GX<>-O@%\)O"O@[3OB
M)J/Q*\+_``*D^)WQ*_:&^+7PPMM-\/\`Q;\;?!WXIZ$NI?"+PU\</%7@/3OA
M]X@U_P`9^`M/CU?X=6'C[Y@_:P_:G_;B^&OASXN^-_AZ_P"R!X9\/_"']H#X
M2?L\:1X)\`6/BW]N_P".WQ9\=_M*_%/X0?#;X%^%O&O@;Q3\</\`@EM\,OV1
M/B`;+XY?!WQWXD\*>,/CE\<M'U3P=\5[/7[7QIX9\/\`A'1-<^+OC^H7/_!2
M3]FG]MK5?@Q\-]&_8@UKX=_MX_&#XU_'2+]J?XT^)OCSI/C2Z\5>#?`]KX/T
M?X77_P`&O!WA/2?A=K/Q@^%?[-R?LSZ1\#?@GX'^+/A?4?VF/@%_P36_:_\`
MC#\1_B+\,?B)\=/$/Q!_9S_.#]MCP[\4_P#@E!\(OV<%_9]_9P_X63\8/V1O
MB!^R'\$OAC^UU9_\$_?$?[>_Q=UOX$_M5?&SQRJ_`'X!_%/XC_M!_#CXF_LY
M_#_X07NB_M$_LB^'/V5;SXJ_M.>,9_@G^T?^PC\+-!_:U^'WQ@_:!\0?%7X>
M@'[??L;?\%#/`G[0WQV^(?P(NOCC^S_\6?$'B_X?^'_VQ?V66^!VG:QX;\1O
M^P[\2O!WP6\0>"[/]H[X8^+?B'XV^)OPF_:`\)WOQC\'ZIJ5Q\0O"WPB\)?&
MKX6?%+X4>/\`X.^&&\0:7^T#\./@7^G]?Q!_\$LO^"NG_")>._C]\6?VA?!G
M_"667PV^'^@?$7XSW>BZ-_:OCOP)\+-=T?\`9;A_:Q_X*;_L:?`7P5^Q[\-?
MCUX3_9`_;U\=?%C]FC]O/]J7X)_&3PK^SKX<T?1]#^(/[8'[.VK?M??$W6?C
M_P#!_P#9_P#[7/"?BSPKX]\*^&?'7@7Q-X?\:>"?&GA_1O%G@[QCX3UG3O$?
MA7Q9X5\1Z=;:QX>\3>&?$.CW-YI&O>']=TB\L]4T;6=+O+K3M4TZZMKZQN9[
M:>*5@#G_`(I?"WP)\:/`FN_#;XDZ%_PD'A+Q!_9D]S;0:GK'A_6-*UCP_K&G
M^)O"?B[PCXL\,ZAH_BWP)\0/`GBW1]#\;?#KXB^"=<\/^._ASX[\/^'?'/@;
MQ%X?\6^']&UFQ_&'X[_M&?`+4?%6J?L2_M9_MT^(/`GQD_9T\0>`+S7_`(:?
M%'X*^"_`&K?\%&?AG\0M1\+>/O@E\3/V;_#/P_M=/_:#^+/[3_P^D\*:S\/_
M`(/_`!2_X)G_`!"^"'Q"\`?\%+OAMJ'Q&\/_`+,D?ANQ^"?[/6J_N]10!_.#
M^RY^S9\7?V;?$?@;7OV)?V$/V@->\/W7Q`\3:FWC/]K7]JSX)_\`!++X$WWA
M+QE\+/$,/A?XI3_\$_?^";'P+E^&7Q`_M.R\+V_A[Q+J'[97[!OP[_;B^'/C
M'XC?`;1?$>A:EX?^&&M1_LE_M_\`LG?`O_AE_P#98_9I_9H_X2G_`(3C_AG?
M]G_X-_`O_A-?[$_X1G_A,/\`A4GPZ\.>`/\`A*?^$<_M?Q!_PC__``D'_"/_
:`-K?V)_;VM_V5]K^P?VOJ7V?[9-[_10!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>35
<FILENAME>j08110324_aa024.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_aa024.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``2`````$``0!(`````0`!_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@!0`&U`P$B``(1`0,1`?_$
M`!\```$%`0$!`0$!```````````!`@,$!08'"`D*"__$`+40``(!`P,"!`,%
M!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A""-"L<$54M'P)#-B<H()
M"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T
M=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%
MQL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$`!\!``,!`0$!
M`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!`@0$`P0'!00$``$"=P`!
M`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:
M)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#
MA(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3
MU-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#`0`"$0,1`#\`ROVS/VTO
MVOO#'[7_`.UEX5\,?M6?M*>&_#WAK]I7XZ:'X>T#0_CK\4=&T;0=#T7XI>*[
M+3-&T;2;#Q9;:=INCZ=I]O:V6FZ?8P06EE8PPV=K!%#%'#'\[1?MW?ML-"2_
M[87[5`=]S!T_:%^+3*20K*%SXOVH=K;3&-V&!Z'D97[=+!OVX_VR0D";D_:I
M_:&8MM)+$?%_Q>2S`L%)*KPO\6-Y!R2?F>&X2..9&C=@B`.`C!BP)8&)T;='
M'@'>P)5<$D`<$`^N;;]N']MQY+7/[8G[5+9&_;_PT'\6CGRPKL'!\7$,.?WB
MD,2H(!R<5T-M^V[^VQ)/Y<W[7O[4*%I=G_)?OBN-H90Y``\5\C;)\DH0X`7`
M!`9?D.R^66P1B<NR`;2XC78WS#><,^]2"<D(5=0@``KJT.-22)>2)%R0%#'S
M%`3)7Y=V1TVGA@-RD+D`^O-)_;._;,N=06V?]KO]IXKODCW2?'WXK%"8S'E5
MW>*L,1N.2PW#'SD!B1Z;HG[6_P"V)?\`B'2=(;]J[]I8?:V".\GQT^)Y7:Q'
M[P`^*E63Y6&"S$;L@L3AJ^)_#MOG6;0[-PFO;F`MR%SCDG&YA@`L<CD8^7D5
M]/\`PJ\.6NJ_%70-$O96^SS07SP/#&P9)(H&D2-6(#HC&/"R`L%#!AR.`#[!
MN?VJOVK-!^`OA_QG;?M-?';4M8?QUXF\.RM>?%SQ[<W$D;V<D5LUQ-+X@EFN
M4M<^=:(\ACMY%62)1*NZOG^;]K?]KU+:,C]K+]I+[1&@,D1^.?Q/#MDL=Q`\
M4@L"5.#N^Z0`NU2:X3Q!XB:'P1X9\$6\TGDZ9XVU^_NK3<0BWDET]M$=Y.7D
M2!`"4/EY<AEW!&KF'T642WD\I7:MHTT2J`S`JK[8W`<E2257!X+D]R<`'T5X
M%_;L_;$\/WANV_:-^-FN6A(62V\1_%#QWKL;]5Q&;_Q!,8F8L"-C@Y((S@8_
M4CQ)=_MH_'7X:_";XA^'_P!I?QE\.&DTJ8:OI/A[XO\`Q#\/7^JQ3:DL45UJ
MUII>LVL$MS"L<B+<L97\N5,MP!7XI^$O"DTJZ-,\.(Y]4*3%E`+E"7(V'N6B
M4$$DG)V@@@C[A_:4^*7CCX8:+X'\'Z-J3^&H'\'Z%<7*V!DBG3SH!<-$K,Q=
M7D>1IY@,+Y@4[%.W``[]I#Q'^WW\`-<CFUK]I3]HYO"&N3NWA[7K/XZ_$J[T
MZYC\I7^S?:D\4$17,9+`QR[790&4##$?,2?MB_M=K)AOVJ/VBRV68+_PN[XF
M,K;,C)'_``E#`(,#(78K#+98!A727G[6WB;Q?\`O&/P<^(=S<>+);S4=!U'P
M3J]]*LU_X>N=.U`O?`S.I=K>ZL9)(2@.Y'"@DH"!\?1W,KLC;@`V=K'AURO)
MC4[EVC<,@J<KN4##8(!]30?MD?M:-Y@_X:C_`&C7,@=PW_"[OB45`SN)0#Q-
MN0`DA-GR!."O`-:UI^U[^ULX+']J']HAAMRC2?&OXE#<N`<;1XF"EBHP&`/(
M+8W%C7R9&C+(6+,WEH`P#!3(6PI=N5*QD$`(,,-S9SM)K=MH'7[.K.["0@(H
MP=P<DHH#@$,6!!8;A@,<+B@#ZSC_`&O?VK)?*W?M,_M#+M#!D'QI^)*O(5*#
M`4>(]Q8EL#)Y.[YMRE*U;;]KG]J9'4/^TQ^T",J7Q+\9OB,_R$'(*R>)&((+
M+L(VGY<#TKY<@M@@*F5\[PK%B2A*J`B!R&`V*IX^^02/E&:W+1.<2*K,"PC8
M\`J03N5F!`!9\E1G((RH`Q0!]5P?M;_M.N(VD_:1^/BG.`&^,'Q!"MELC.?$
M87CH2S`D8''(.K!^UC^TS@9_:.^/$BK_`!#XP_$)BXXP/F\1AB>0W4Y4D-C`
M%?+V`O`7#JR=V.>S$\G;P>,9.%++GC&U9P98,4W!D)&X/E0@(P>!M8##,6.2
M0/O#((!]/Q?M5?M,2*@_X:'^/"[CG<WQ<^(`)4E@1@>(">O1@20!\JDC`U[+
M]J']I=Y!YG[1'QQ=20,GXM^/54`'!;)\0#<,+@KMZYQ@L17S9#N()#??`W%=
MS`(<G;U&T``'"8R"5S@D5UV@Z=+JUXMC$=TFR5H&W*H_<HS@JOW1N`/0!@1\
MW)(`!]X_!#]KGXO^&_B9X;UKQ7\9OBWX@\(P7UJNO:9K?CSQ5X@LY+)F1+LF
MPU75+JV)"DLCF,.&Z,&.1][?$_\`;_M+Z/\`LGP'XDU00WE^L<,IDU?3]4@B
M:4R"0ZG;7L3"/;B,1HW)(5EV&OS@_9STK1[SP'\=-)U*'3QK>I>%;"WT*:[>
M%6M[BRUF*67RRX!M3)(L(DEW(#&K`_+7B.D2-!KUM#=>5(UO?BW=HY5:,O%/
MY1*2*2AC)&48-M90&7*\T`?NIX<_:3\16NKW\'B;5_$+7FE6&E:M9PV?B6_N
M[:70[^"!FN+FW6]FM+F[MVE\R1+L.TB[XMZOM8?=G@OX@P>+=.LKVTU/[0;F
MW2:*6"ZE>WNT"KO>#+;M\;$K<6[@2V[Y60;2KM^*OA?Q'_PJ[6]4\5^)-$4#
M5?#_`/PC>EV^OV1(O([B%%>]BLKCRW>.&W,8MIOEV%U=2>`>A^#7QPU'PKXB
M!AG63PW>7+O<Z<+ORC:S,>;S37)/V6Z5.JH&BD4>7*K(2``?HQ\?_`_Q1N[>
M7Q=\-_B%X\T^ZME+WWAJP\7^(;6RFB&=\MG:VVH10QE0,M$D8Z[DX!!^?/A%
M^T9XT\.ZC%I7C'7O$.L1"Y\BZ.N:KJ-]>6;!]LBRO>7$TIBS]V4DM'_M*2!]
MF^"_BYX,\5(EM#XBTZ6]$5N?FG2#[0LR<`K+M5+B,Y2YB#,JN`49HV6O(/B]
M\"++QK:3^.?!45G;>(8FN'N;*R:-[?588)7CW*(\*+EPA9PH(;LV[J`?5VD>
M)8->L+?4M-U!Y[>9%8;+AV(W*#AL/C([$?*W4$@Y/E'Q=\&^-?$NF2ZGX)\<
M>+M`UJSAWBPTSQ-K.GV5\$R<+;VM]#"LS#@83;)D`X8`U\/?##XLZ]\/=>_L
M?4WN8;"VN#!>:?=>9OLCO*RA4;[T0;EN-R?>C(Y!_2GPSXBTSQ-I=OJ>F7$5
MQ')&C.L;!PI8_P!X'#*>2".#TX.0`#\G-:\?_&S2KZXMKGXB?$BVN[=BE]8O
MXQ\3*X$)V/+:A]1RC<9:-0%<9(^8Y-K2OC%\3+=0T_Q&\=WD-TH52_B[Q!))
M$P;!:-GU`E7C8?.C?*P!5P17WM\:?@K9>/+1M:T:*.T\36B;@\8""_5<G9(1
MMQ-UV-SNR%."0:_-[5_#U_I&IW,%S9RVVH6<CQ7MDRLBSE21)+`K`!+@`%FX
MQ)TX/-`'Z$_"OXZ1^(_LVDZAKEZ^M1V\,<7VR>:-=6"@(3&&G=/MYSNE0-F3
M&\`Y('N/B>XN]6\,ZO)8ZSJVGSQ6%Y-#<:?J5W8W4,\%O(ZCS;>6.1<$9(#=
M<9]OR0TJ]DAEAN;.5XA;.'BG0LMPMU'A@R$;6BD@<<Y*MN&W&T5]V?"+XHQ>
M,]/N?#.MSQP>(YK&>UBF<B.'5HI+=XA*J@X6[C5LS1CF3!=,KD``^(M:^(?Q
MBTF[E1_B;\1G@>5_)E'C7Q,%*\XC!&IA0RY`(X)'(Z$CV7P1\1/B%=>$VN;K
MQWXRNKG_`$W-Q<^)]:GF&W=LVRR7S,"@'RX/&,@=SZ!H_P`(+34_%=UX5\1V
M^(VLKR:VD`X\P1[H)XB0-P!).<$9!5NG'+W'@#5OAW:W^CWT9DT_S[PV%ZJ8
M21)%9D#MG"M@@#/!.<=10!X5%\5?BIO93\2_B"?G;KXR\1'C)''_`!,N!P?0
M#..,"O==*\=>/[CP8+T^.?%[72V-R[7$OB76WF8J9,-YC7N_>H'RN&W`XP>*
M^5DB*2D[2$,DB@\_,03QD^GX'WKZ+T%1_P`(&W(`&G7I..@XESTSZ>H]#QF@
M#D(/B?\`$LD!OB)XY/(Z^+=?)QGGG^T#QR><=",]!7N</C7QP=%M)CXQ\5&5
MH;5C(WB'5O,8MY18L_VLL2P;)R<MR#P:^4H2!TW=0>`><_ASG'/X>U?1]NT4
MWAFRD4$-';6P92&#<>7DD8'W@`>F".F>M`'I(\5^,"B[O%7B48`(;^W=3^8G
MU(NN1UX)X^M4(O&?C(ZKY#^*O$H3R@=G]O:IM+%3R%^UE2">C8!Z'UID"@Q(
MIPQ*9&?0CIQQC]>QQDUC/;[M80J0&$&0V<X`#8!X`8$\8/4"@"E>^.O'$>H7
M<8\9^+4C29U55\1:P%49.``+W``]``,=`#77:1XQ\82Z7+*_BOQ*\B&0AY-=
MU1VP$!`W/=$\')Q[UY7J(*ZI>;@H/GR?*.>?09(/7VQV[`UV^A(#HET<'(,Y
M&3DDB/UZY'<'KCZD`'::5XX\372K'+XEU_S5`()UC4?WG!SG-SQCOV]^M;C^
M)/$QP/\`A)/$"GC[NKZ@,'_P)'/&,$X[^U>,V<DB.&0X*G@C.01CZ>V>O7IU
MKTR)V*1F089U4[NF3@9S@'D9]>@Q@#H`=!%XF\31D+)XAUUL\G.K:@>,`94M
M<$\=2,]\CWOKXB\1,%(\0:V03PW]K7^#D9'_`"WYQ],9'USAM$KQ`8(/7=W!
M`Z@_SR<GH/:6T1U(5NAQD`]B.6`/?!Y`QTH`Z./Q!XB4@2:[K!/OJ=[R?H)L
M^GMD]P:U(]=UW8&.LZL<\9_M"\P<#G&9L]^?7%815",*`6X_>#``&T9P>Y_4
M=/I-$I!P<GVP0<<>I[>F!C/-`'50:YJ^1NU?4FP><W]R<YR,']Z<].,?CP16
MQ'J^IR=-1O\`M_R^7&><9S^\R,>XXZ]ZY2,8P?[IQCK@'<0#U'ZGWK7MR>OI
MU]\`#_)Y]^M`'01ZEJ8ZZA?'W-U<'UZ9DZ>O7Z=:OQZC?D#-]=9_Z^9N_P#V
MT/`XYZ5CQX8CC/L!T_#TZ?7'KQ6@B[2,]R.>F?3'7O\`_K]`#9BO;L];NY/;
MF>4\\8_C]/7J?>M"*YN6'_'Q.>^3,_;.>K=.OY"LF(J,''7D]QCCCT]O<]>M
M:$;>@ZYY_`C_`!_.@#H].>1Q+YCNY'E@;V+8X;.,D]>,X]**9IGW9?I%_)Z*
M`/\`->_;K(_X;C_;+'S*H_:M_:+,C!BN\#XO^+25)!^4')0$87`1CA@S'YKA
M+)#,HRN750&.]"S?NR@9R%8,H.&8Y1!NPV\*/IC]NF&X;]N/]LL1-Y7F?M7?
MM#J2I8E@?B]XO9@%)()8!>!CYCS@$U\V6VF22"0M,J!P%4,-TC97<)$;)\I"
MQ!QN').20H-`'2P0O9SV$,BY8(C'<%PB>6CQ,%<;AN41LY&WA@H"XR>HL"#K
M<05E<%RL3,RD*,@;P%^4;@I"JQ`SLQM8X&(ME+*]O)<7HEDAB2)7$15OD2.-
M%X#`D*N`2'!(;=U+#9M+'RY5NDF.[<KL_E@X7(#!5Q\O?&3QC;MQP`#UGX>:
M:NI>)?#T,KQA+CQ6;=U>5<%9"-Y(&2/-("A\X)VX/4']2OB9X0L_"7Q[^#VO
MK%IFC6%QX(:\>&$6>G03I9:7=01O#YB'SY9A"HDD<-)),'<C)!K\SOACX@\-
M^%[PGQ%H2ZY:B]AU"%DF:"^MKN$$JUO+PNR0R?.KX^5%V#-?7GB#]H;X<?$K
M5?#J>-_#.I)9>&;.+2M&GBU&=KBWL""LG&&4;27E4[^6.TC!*T`>":S97UU#
M!J[V;)#>>-]0N#<Q^7(B)=W4CQ(3#OV`Y:0)UR#A0-N/4+;1XV%\808B+.?S
M""LC,Z12F0L&R`68A">,$*005(KI=4^&_P`$=4T2&Z\`?%B73[^;4X]7N-`\
M6Z?+:QJ\<LB>5::E#YD<B+&^\M+"C%F8*0HKZM^%O[*.O^*K2RU30?B-\.-=
MGO[>1SH]EK<,M^D\,1D2*6"81*3.%\M<$*2X!)P0H!Y_\)/A'J_B76O`FCFW
MEM(M3\8Q6T&H7<,T=B9$MFOI(R^P1NY@9L1K\Y:1"!@UV/\`P56TZ*Q\>_#R
MXM8$@BO_``I).P2,HKFVBL8T?/.519`H!R5QMQ@G'[(MIUKH_@FPTY]'2RCT
M#XJ?"K5;+S+*WB\AK[3-,T?6C:S0QN)(X[E)X9VC;!4Y9AUK\MO^"M?A+5KB
M?X4^(;2SGFTFVTW6-*DO(5::*-H7TL1QNZ@JA;8"S#LPW$9!H`_%F/+1A2S!
M/*)5XT;9O8L?F+%=QZ;A\H/'!/)LP.3D,PWJ'`.P86-50+N'S!LY#$@DEOFX
M09%';,&"S*0BG()1E"OP"YV@\X4H0%.75&]S=MY595('F3/D.H#!0%Y<`JQ!
M7@`'`^5CG:0-H!NV@::2*,HK(X921M*L3NQN&00-W!VL=I<#;G`KJ+&/;(6C
M<GR5=`""/[Q&T@E,;FP&5<8PV`37+V,RP3K(1MB;YD!)+H""6##<,'+@EF8Y
M(W$@#)Z.ROR)8P!]X'>1G)5@5()&0&7*[2#TY)[4`=EIT(EMN9,*J12B,!3O
M:3(+G+$L%)$8&!C'\/0Z$,+$/%T$)5E`8$`*,E1D84<L.A()SRN6KGX;E(R(
M8XS(JOO=BTBK&&.%C+`_O`<#Y`@V'<>F[?OV,ZLP8?*[@J58DLX"LDA#$CD$
M#!X('4;%-`&K!F=SM)*(%W'E6+8'!W#&W)'12"`S`@[JV6F*H@0*$!R^'XD9
M0#P%VGGC?_LC`/WJQ;9<11V\.&,@).5;"*S'9N!+$8P3ZIG@]#6U!;P(`)&9
MF4`':-VXC@M@AF887KR0"!P10!T6FSPA$5XR_(5NI&_*@G(VXWKP&/RL%`)'
M`/IW@_-OJ+ZC#L"6-O(S+QL)DR@BS\RY^8@\#<V[#`]/*].M#<SJL##&_,:H
MP);8>@P3\S?+P>N3CY@<][!<7.G0BW2W,,4VX,S%0T\F0<LRX!`^ZH(/.<]\
M@'K/AOQ"PGU&8/+I\5Q87-E,;(*DDJ.7V[A&`99&;!)D!9B,[B0*BTC3[6+4
M;>::XNK10ZM`;ZQ=899L[T25E<;59N=_+#(;!(S5WP1X6\1OX;N/&<-I+#X>
M@UVR\.7&KE%\NWO[^&YNT2/S""TQMH)G4`8C)C4D'%?2'BCX>V&F:3X>O;;6
MK36;3Q!_9@,4>I+<M>QW]JSR3QI*6N+6XL&C9KATV(A#J53"F@#)\<7WB3Q%
M:67B#Q#=7.KQFQL+*W:>5U-G;6\"P6RVA.T2VY2/(F12S'F3YL$\18W#Q%`D
MT\!#9PS%E)Y/49;<.AW#YE`.>,GWSX7^$KCQ3\)?B#J-]J$4D7@&5/[-6:1Y
MI(S]HDWO%&6"-:&.%_-`4[&\M@1EL^#1*\IFEMIHM256:21()`)2HW.S+%)@
MC`Y(3&!WR0*`/4_"NO>((V$=A=7,IC*X%M+('/"D$)NW8'/3GOZX_7G]CBW:
M'P]J&LZMKYO]0U?R;6#3//9AI"0R22-!>Q.08[VZ.V2)@IC>%2JN9-ZK\N_L
M`ZG\(9]8U+3]:LEF^(5Q*$T6/4K%)]/2PV!91`\GF1I?O,[1YF3'E[5B;<YK
M[9^('P>U/PKJUS\1/A9_HUXH>?6O#2Y%EJ4`RTWDVZXC)QN<18#(WS1,&`%`
M&Q\;/@-IGQ"M7UK1(H=.\66RNR31`11ZBJ@D17&W`:1N@9A\Q(#<\U\F_#GQ
M_P")/A3KTNBZQ!<PI!/Y-W8RA@\1#@//:HS`,CA<O$>'!!!5P&/VO\+_`(JV
M'C+3PDQ^R7]LP@N[*=O]*T^8$($N0<,\+OQ#=``<[)]L@!:Q\5?@OX?^)5D]
MR$33_$42;K+5(`%\QT7Y([G:`71L!=^2R@G.030!W'A#Q9I/C'3(=1TRYC<.
MBM)$I!9&QR0#SL!X(."C95@&&*\Z\??!_2?'MGJ=W$L5IXB:><P7GEHJL\2D
M(CR*H<;\<N2>O(P#7QOX>USQM\&?%_\`9>JQS6QAG_?6S%A:ZA;;]IGM2V4W
M.HY[-@`Y'(_0'P'XRT?Q?IJWNG2JLDK2--;E@)$D/S/\N25(8@E"25R.2""0
M#\M/$OA35_#E[=6>H6TEOJD<K&YMVCV1WB[RHEMA@)YF!D/G$O<G-5-,O);.
M2&\MY9(IHG1X98F,4T,T97:ZD$.DB,/;!`!XXK]0?B5\+M(^(FDI',JVNL6L
M3-8:@JXD#@-MBF8<M$3UX)3)('45^<'C'P=K'A2_N],U"`VNHP%T"R`B'4%)
MPDD+XP9=I78PX;@'/4`'UQ\*_BO9^*KBQMM?6W7Q1I,)@M+PL(_[7@=&$H0\
M*ET$`\V$Y$C#?&,[@/I#4-)TGQ;HMU8W44<\4\+Q'<H\V"1D(&[(RDBG!'J`
M"O`K\F-,NFT_RI8'DC$+AMR%HYX[B-MQPW#QS*QSN.""<9(KZ`\._&3Q5:ZC
M#<BZ6075@FE7'F`XNL[A!<31@A4U&%7_`'<Z@+(5&_(8@`'EWQ*^&6J^`M3>
M&:*6;3)9YIK6["EHRLA^57/0."N&Y!/!'`%=EX>0GP&1M^86-Z!SCH)B!GTZ
M^@ZY!ZU][ZGX=T;QSX>6TU&!+B.XM8#NEC`FBF,0;=CYBCAFR0#SSDD<GY3\
M0^`-0\"Z3J=A,6GT[RM0-I=*N`L<BRN(W(``*[QVY''T`/D:%><'.`1SW_7M
MU(P3GC/2OH^*`_\`",V3JOS?9+4-R1O'R84D@#`'?K[KTKYY2!XS&7!7>N]>
M^5WL`<`^V`.V._6OI2T53X7LR01BTMCD>F%//Y]AR.:`.IM0KQIE2,!5QG!4
M]P1S[?XFJABVZO%\N1Y)'&.FUO4]B!QG/<8Z#06-@$9-H8J,@Y`9=O?C&>XZ
M')&3C.:L1,FJPE@0=A!4]@/,`R`><=STY!&*`/.-8VC6;\<#%P>#GJ`.3GU)
M_#TKN/#A#:)=#@D&X)')X*=^O;ISP1S7':VNS6;X8'-P>@!)^48..O\`0^PX
M'=^'(@^A7)'RMON/F&,D",8!YYQ]./SH`YJ``MP<\C/4<9_GZ_7CUKT.]#)8
MVCJQ5@8CQQ_RS)_7DG/Y=:\_@!W#([G'3IZYS@$9[?\`UZ]$U-?^)9:,!G!A
M!P,9Q'R3C/;IQZ^M`&GIMPMQ$J$XD4#(SST)R!W'3/3G/K6Y$J\$`Y`.#^H[
M`8)'.#W_`#XK15_TN-<XRK=SD\9R1QGIT^G;BO08H0%+#&<9(/&<CK@'H#_(
M'J10!4MW.2&!QG.#G"Y().,=,#!ST]\5LA4<#9RW7`QT]3QT`Z?E5*&,$G@<
M@@]R6ZC&?3WZ^M7+8[#AA@$D@\<<\?@1@^O?/%`%V')P&]<GTR<@'"CGCT/?
MI6G$"I!Z9/49!//TXY'ISU..M557?@K][OCO]?PZ8QDD\U=B4D9(QT.3QG!X
M&6).,\X_R0#8MGVCMDG)![<'U!Z=_7\,5JH=X&,9/Y=_\_G6-#VP>_7/H!GO
M[8S6M"3P<9/!/';GGC_ZV/TH`O1KT[<#IW/'Y_AWP>M:,2YQR`1_4'C_`.OW
MJK"%8#N3^1Y_7_#U[6X\CIZ\<>N[@<>I_P`D\@'0:8,"7_MF/R#_`.-%&F'B
M7U_=G\P_X44`?YOG[<]M&_[;W[8TKMDK^U/^T(55)74;6^+GBQ"KX)96SO)P
MI4AN?EP5^<]/BM`!`%E.#\B%F)^?<)5PJL00RCRP?O#.">B_1/[:S32_MQ_M
MH##$I^U7^T.JD1J3Y:_%WQ@B;2V`-C,"2"#@A\D"OG7P_$K7+H\G*2,%9$X&
M_<4.0P(V@[6W`E<D+_'D`[G3WM!*L#JJ.?NAE`=]JJ/*R`W.6&,D#;][[PSV
M-N]A:NAE@D$<B`DD(0%SD#:RC.3LX!Y)SC:37`&.1=4LE*,Q$ZACA2#DNQ7&
M`"JJN<C@CY>X!]!URTN(;.!_)"#R`Z/\H'(88.`1P2NY2%8CC@K@`';V%KI_
MEP7JH\MNZK*3$HD&#A0?E4_-&``5)`.>1P".BTO3-'U*29X)58P$LT3PA7C#
M,!AMV<`%OG88SDA<G!,'@F+[1X6B+1AY!#@G:T8PKL,O(&*JH92Q`R021GY>
M=/P%;BY\2:Q']D!C6SC+(I)4`SC$I&[;EUW<,.!D``D9`-ZVT73+^5;:`VSL
MNT$+(\<F[:BYVYWB+)"[@#M8[0`S&NTT;2]9T6Y@DTG5-6TJ>$;U:PN9B8F`
MW))^[*-@,#]X=!D[>].;28[/QMX?%O;A$N+L(XB8%F5D<X`;;N!'EEE)!W'@
MCJWK/ASP9JFH^,]$TO0[:^OM8US68+*ULH@\DUY)=NZ+:I%M9<OO"CJQ(X/`
M-`'O/PP_;#^/7PS^R6#:E:^.?#PEBDGT7Q#$MXQ$&V1!&;@?:8I"P!#12AE?
M#`$\U[?^TKXS\'_MD_`V^\5>"M2U'P/\1_@_IUWXFUCX77UXUSI6L:0J@:Y?
MZ'+(%D6>Q@"SS6TN]VMXV'.S-?+-C\-?%W_"6^,/#FH^'=1DO_"-KJ>JZI:V
MVGN]WI%KI$JK?->)']V.V\P&65AB//S8#5X]\4M=N_!UKYVC74UMJOB#3KW2
M!)`_EF72-1M7@ODN@F6*M;S-"-X(/F,O)4$@'R&+J0'YE!C?=D;@=Q^9F:,+
MG`1!D@``%UW,`14Y5$$;QR$I(X!A`).[JJX5",$YY)(8J>OS"J<UM=K$O[IR
MPDS&_/R[AMD#C:21C:H+,"%"C`Z&S9Q?:&*2$A`<1L,+O\HJ6`8DLO`&0\@+
M`#`R2"`:T,KC:!ABN0#L9AR`NP*RA"X4_?7Y>".?D!Z:VCN)?L\JQ*KK'@J\
M:A)%DW-\P``'ED;6"L"!@`8`J/P_IL%TS,X6,Q28&5`61`NP8W9[?<!*_,O!
MW;37ID$26WD*8()43"-@`LI+D[C@#.0%RH&!C:`*`.2MQ<O)`EU*(HT4N7"L
MJ`J@)5=OS295`H0A`&X^53FNJMT$B02IN61F+H`,2.I.%"K&<<$EV4Y&X].U
M=I_95C,BSK;*Y(/.THI+*'*H$VQAT4[E#*Q!&3E6Q532(;73-=AMKE5DM?,W
M*9`QVQS1[T;*DD^6[;"5R=QP`<T`164/EP2SNRB9BQ)(QL",0H(8X!R<DJH#
M$'(YYDC9&1&60ES(2`R@#`0D-U4.K[<%?F(/0$D"M#5I;>YO3;6,80O,4"@'
MYD3)+$'!`)^;)#9ZL0:]&T[P);1V-M=3;))94623:P)12>KJQ`SPF4(P%/!/
M`H`X/3GEA?S$9B4*[3E=P.3N/.7V!9"0-JX'?()/L6@:5>:[8W-_.TLT&EVS
MW=PR`)';JK;0&'&&=BJINR69P-QZTGAOP_87MXL:68N(%*L]Q)MC1$VE27V'
M!W285%/#1KD'&"?M/X0^+/A;X'\$_%;PAXE\&_VW>^,_#R6FGZA;>3(/#]S;
M":6&^#3'S`T4X2=TB<-(D90LH;-`'@NE3>([KPN^@1>*K/0O!ESKNFZC_9>I
MWDL;#5H;4#^U?L-M'*\BP+)+$L^,LAVCD''M/AOX1>(;[2I;[P7XI\->-U,<
MXU"Q\+QSR^*K.)H&$HM-/O(4EC@D$FR62VC+?>*J,`U\C:WJJZAJ4JVFU;:%
MEA@,$DC1NL8\I9@K98&0#?M8E5R5SP"/JW]GSX=^*O%ES::]X$N[[2/$?A^!
MY+?^SX-6,FJZD+B62'[5J,<T5AIT*Q>5')*\R(,(3!(Q>@"CX+OO%=MXB?P/
MH<=WH\^NR?\`"*2Z7>0/&QFU22.UN'N+610_G11H7<S*2K%F`!.#]=6'[/O@
MV[M7L]&TS6#?6<]UII\1Q:I:0W%QK-E&([U;*P=A]J@@N,I-&(@Q`9%R0&/>
MZ)HLMU\3/"6N?''PQ;?#_P"(MOK=E>)XTGG4Z+XE@CA5`-0:'%M]N81I'%<Q
ME-[2,\YR"3O^'O']O\-_BUIW@+Q+X8N9I99O%%B9;%H;L2Q^*M?BU71_$.F&
M0B.Z@GME6WFN(G$L89LD!2``?%EU:>*?A'XGMM51KC3KRTO;B"*ZLPT$K30/
M#+'*^T+M64B*>-3A@VX`';D_K]^S/^U3I?Q0L++PWXLN;>Q\6I&D5O=R/'%!
MK>Q,$'+;(;\E?GCR%F))CP<@_$?[36DK.+J^G@18;WQ&\-EC:7E%I80"65'#
M#/EO.D$FQ=AEB;:Q'3Y8T.WDT2ZAFCDDLYED\ZWFA<HX>-E8,K!U970X(R<@
M9(]0`?N'\4OA->B__P"%@?#I_P"SO$MEF>^T^#"VVKQ*"\H,`'EO(Z`B6)E*
MS`G`$AS6M\+?BY9^(HAH^JQG3-=LQY=]I<Y<2V[H=CS6QEP\UF6Y,?,UJ"%;
M?%AU^?OV;?VI8=5ALO!/Q#OQ]N'E6VD>(9V&VX!`2.TU-SPKYPL5TQPQ^68@
MX<_1GQ.^$5MXI:/Q5X4F71_&5ABZM+VU/EIJ!10RI,8RJ%I!@"4Y60'$@8')
M`.B^*'PST3XE:&\-RJQ:G;Q&32M4BQYL$H&Y`SJ,M"QX*Y.,[EYXKX@T^Z\8
M?!G7I+;4$FM;I7*1;MYL]44DK&Z,!L\T@#:P(W<]5RM?4WP^^*=Q*)_#/BRV
M;2_$]@C136DP$$-XT9VFYL>,;VQOFM%SP3);]XZ]2\4^"=&\>Z.^G:Y#;REB
MKV5];(?/M'V'RWCE?+,`Q^925!&<`-T`(OA[X\T_QGHUI*DL8U*.%$OK8-AT
MG"X?"G!&3EL=,'*G'(J_$[X;:1\0M&2VN8TM]4MI!)I^HA1YL3A6_=R,!EH6
M.,YY0_,!V/QQJNE^,?@MXH1FEF:V>7?8WZ!OLFHP*QVPS;3@3*N1DX8-VY(/
MV+X#^(^F>-=,MW$L<&I*52XLW(W[PK=!U.0,Y'!'([@`'YQ^+?!VL>%-<FTW
M5+=H;Z*1L2-D6VHPG(1@P`7S&&#'*.6X#=<C.L]T8$H#J`VUX7SYD1R/ED4C
M*,#T('/&TBONW]H#1[/4=.T0S6\1F,M[&)M@\S"I$ZJ'QO`5OF7D@$Y'7(^-
M]8\+ZGHLL2WEO+;R7,*S6=Q<(ZQ7UNX5HUED(YX_U<G)7(ZCB@#ZC^$WQ=-Z
MUIH.MSI%?HH@L[V0^7'J"IA4MKG.$CN4`"QR])0`.&^]])W^GZ=XFT>[LKR%
M)8KFWFBD5@-R%UV$J><,.H88!]>:_+FP<JY<ADD1]IC/$D3CD$X/?(*.O!&"
M#S7UE\*/BPR10^'O$=QMD8+#I^J3-Q(`#MM;USQD$!8IR?FQM<Y`)`/"OB;\
M+]3\&WX:."6XTF3<+:Y52PC&YI-DA'"E0QY/!.<>_9:=;O)X;LXXQN<V4051
MGJJ*V!UPQ`]<'KWY^T+K3M-\4Z.]EJ,,5S'-$4E#(N5<C&Y",X7IM8'YA^5?
M/>O^";SP>(8H0TVE]()0&8HH)`20\X`'"G'7)]J`.4M)8[F&,J2&4"-U(PZ,
MH.58'H1@GG\.U5G0IK5LZ<%(>>N#GS,97D`=LC!&<\\U8DM29A=V1"3("9H.
MUPO`PV.`^/N-W]J19!<:E:2;"NZ(@HP(9<>:"#QC(((R,CCCUH`\YUOYM9O7
M*E"9SA<<]!@84GCTZ'D''4#T3PN`=!NA@`[KAORC4_49.1CVQ7`Z^-FMWJDA
M<2CT')0>O3\>OYUZ'X1"OH5T`P9A)."#CCY!GN1ECC!.>O!&<4`<9"26X4X+
M>HSU/&``,YQUYZ\UZ7J7.DVP^XP^SDKZY0@D$?+CG@X'6O.(0-^.V[W[9XX]
M/S]:]/U9?^)/:-QE1`,_Q?=((YZ#(X!Y`H`SM#4&]B!SR&``'(.PG/?J<C)`
M[_CWR-Y89AD\<C/3/`/.<@=QQZ^M<)H/_'];C@#+9^FP]^W7)_6N_C0M+*#G
M"JG&1SG.3CGMQ0!9@A#1;P0S;<D9SC/'MG(X]L=.U61#G`[Y[]_3GGIC&/?-
M1X\I24RJX7CG*\=NO''(^A^E]0&92,#/('L,`'IZGGB@"Q;(5.Q@0.W!QGMD
M_P!P]CGL0#Q6L(EX(.&`]CU].O'J>^,_6LJ$CZ#KVQD9'/7/`]JL1$Y(/`!P
M/;./J<<#GGJ*`)X\9"X(/_`B?;VYZ<<8_32A)XQZ?7D$8_G^'0]*HJ-S#;U'
M8YYX'8YZ=,\XZYZ5=B!Z=/TP`WH!W`]\^M`&K`W((('0X/7G']?;Z\5I1J"/
M3I^N?SY_2LJ$?=/?C\?N]\?G^'%:D)Y`[?XY].W0_P#UJ`-W3!A9?^V8_(/1
M3M.Z2\_\\_Y-Q10!_F__`+:R.O[<7[9C;I#G]JG]H8@$!MBGXN^,#M`W`G/#
M(<';&Y&`0HKY[T=?*U%U"\"4<,27+LI)!PS2`!C(>,J6Y+#H?H_]M.3?^VY^
MV8!N;;^U;^T*,[`H!7XM^+0,,`6&UL(68@-R5SDK7SYH,;G43(2VYI4'^LY(
MV#=W.=^W<6'`/"YR*`-6>1CJNGNH<`S+@*,$,JX`*_>(*D`-UZL>AQ[#KNU_
M#UDC*WFI""67(780$^=FCRQQRQ`8-@9?(P?++N`KJU@Z@?ZV+H0`F$^4[7`+
MC@#))5LMZ`#W#7E>3PQ93%E7R[/R2DH"D1@1!"%.%+'#-\I(&0>K<`'8?#*$
M/X3*>7O+VCE&Y)WBXD5U"K@`KP1N#`D$Y/%;_P`,[2:7QEK\$<<K2?V<`T:'
MS?,!NX^6P,K\N3\I8#KG!!IOPB$+^$D#+'E8;DL0JME5G8D,,;2N"W)RQ(!!
M(P1]._L8>'[;Q!\6/&EC;+97-YJ&@K9:<]U`DBQ37^HPVAD1G),3%GP)%4NF
M=BX4DT`:GP4\/:=JO[1'PGTO5M,MM0L[OQ-;Q7.GW41DAF1E<-#,I9=T3X48
M)QD9)&,GZ7LM,C\-?M@>'(;&SBT^WTWXOZ6+2WC0)!;Q-K44<<:(`$5!'($3
M80-HP#Q7F?PST>ZTK]HSX:).4CET_P`<V=K)Y8*$3BY-I,NX`[0IS@98$\D=
MJ^TOC_H>G:)^UCX4N--M4LDD\0^`M1*1J5W7EP-,EN;ABWS*TLS-(S$`%R2,
M#<0`>LZ/X%NI?VN?VA]'N`EM_P`);\,/B0((V3]W-#J.GVT\$WRAGPX4O\V2
M<9('(K\5/VY-+TWPS\5O"-MI]JFGV5Y\)_A]?,J*(H/MKZ/'!>RK$BE0\UU!
M)))(1O>1F<Y8XK^A9H2O[;VH+$7`O?A?KMJRYC7<7\.S-YV0-[Y,14')ZGKU
M'X9?\%'-'F?QE\(K\0JK7/P>T.WE<D#>^G:KJMC]T')VB')4\;B,@\@@'Y]0
MW(#A9F#*Q+;\\$-U&<;2-O.1@9'!/(-2YLQ'-YT+-&C29*H?NDGYG4*3QD*!
M'@=,Y)^[2BD";8W!#)\KESAE/.!AB&RP)&2O.WE=RG.MDRV[#>0'!91G/^K^
M9<L>C;E).?F5CDC;N``.F\.&.WNHU'[P.OF$.QVR.N\$`%<[%(VL",[@W()K
MT*TND\FX7RD+(R,F#DJ1*K8"^X).7.""1S7E^BW8DNK)251`Y0&/YF:1P.`2
M@4LHW8`/49.[C'I>D(&BU4*"2D#%2&;:-K!5+OD#D[<9!R6/'&:`/7_#92[T
M>:V,+-/"[HS[-L?RL/W:N`&27EF.X[MO&"&Q7(:A83OJ-B_[T,T-P`$&Y7:W
MF=3&N<E\`*ORA>@`(P".B\+R2Q0:G%)(852>*8[]QWR2(-H&W<N2QW%F.Y1@
MMD#:>?NV%P^F!6=98M2O8=I8KP[B13O0-@Y=B<$\$#@$B@#M/#^B?\3RT6XM
MW*2Z7'?>7+N00O((X_G*J2<98LN4+$\\`9]KMK0W>EZG+#$%:WA>,8!4%I66
M,+&H4':00!DY8D$@$YKS/P5;#_A)-0AD=RHTZ",L9WN#$)"&!1Y(P?W9#9``
M"MR5XS7J5G:M!HCQK<O*6U&R27A%,JS7D8`9A@*Q*D-NSP"V`>@!O^%](-II
MVH3NLD:-+(`B*-JI9J8ADMG.#$23T4DX!))ICW\.D0W,ZFXM+OR2LES.0]I]
MHU&%)`[HI>64P6[Q(J!6"Y&X$9KT3P]#*GAZ</#%,DC72C8WF.&FN&13M4L/
M-R<`=^%Z]</Q#I,5[J$VC7NG75I=+XE;386*1B*10UH9?/B5O,1DM+1DC#HJ
MG)PQ.<@'`>&?!LL)M[_5+;S;6Z)<R(ZQFWCSOBNF#;&:"4$E54F11M.SYL5]
M!>%?%OB#PG`L7AK4;S2;5+GSU*79M;65MRG>;0Y\_)((W+T(X`'&-J8@4VUN
M9$M8A(BDCY(1$66)!(RCY(XT7S&();;'\JL3BO2O!_Q-\*>$+^V>S\*^%?%,
M-C+)*P\1VYOGO(C&\;%F)C1#Y3'RPB_(S8"AN2`>Z7G[57A[Q?\`#/Q'X'^*
M%I:7'B"/0Y9O#VMVT1#-JMHXDLSDQEXII-IB(A*JZM\X"]>!^'OQ)\)Z_H*M
MX\L[C6=3\!7]IJ'AFY^WRV6HWNE/(D-WH":B%DG,$$IBNK>%LK&HN%3:&&/E
MSXF>)?"NJ>-=4U30O#Z:7H]\PN+'1Q<M<0Z>9X]\T,$V%D\E)0QA67YD1ECR
M3@MS4'B*<@^7#*1M11Y<ICBVX5@J[$!(.XXW$D],\<@'VK\2OBYJ/Q+U6WN)
MK2#2M*T^(PZ3I5N6D2VMY7WN\DS#S)IY'(W.1T5548%>72-"V=UU$H=MNQY5
M,@.#@JH+-GA<X.>,X`Z>)V^O,Y4NA0*./.>=P0%Y+#S-N1M.0,`=^F*Z*VUA
M`%"3JK,<[8;=58'@##LK-EC_`'2!GMWH`]4L;ZXTV:-TG90A)5@WS9W`XW`A
M@>G7&>H7C=7Z0?LY_M6R:8MEX-^(-Q-/I9\J'3-=D/FSZ<&VJD%VQ)::T4$`
M2?-)`/[R#:/RAMM19F5U2:X;=E3*78`ELY&<`=/F(R!CTQ74VVKZKM58E$2*
M01DDE1D$<\`<'UZ]`>@`/Z!OB3X`T7QYI5MKFF7,-KJ\$:W>F:[9.I2>-8S+
M"))(CB6,D*4D!)4XSGD5RO@CXB:[HVHCPKXTM7AU6VEACEFD*+'>QS(1:SPL
M=J+=3;0Y`Q%/G+-'*PW?F1X`_:E^)G@?P3>^#;6ZM;N&Y<FQO]0#3W>CQLA#
MPZ>KL88UD;$F9$DVN,J%!-4;+XR>.=>U+4-4UKQ%J-]J$Y@N+BZ,I+JD"LB*
MJ*518XP!Y<<8"KU5<G-`'[8^(M"T#QMH<VGZI#'=V5PC%),#SK651_K(V(WQ
M31'JO!R-K#%?#&O>$/%/PK\1VNHVUS/+HS,LVEZM"LB0R1NP98KY>-CJ@PI;
M##.X8ZGQ?PM^T;X]TY)57Q)<R)/)DI>+'.S9185WB5'YV``;<<KG@U^@GPMD
MU[XC?#^Y;XBV]K<1ZFX@L[;[+';SQV*0*$N)$`S%-([>;`Y57,>UQE'&0#RO
MQ1\3=.\::7H%F2(M4AEF6YC<J`6*1JO)P/WI^:-@<,/1@17T%KO@'2?%WA'3
M])U")5N+;2[9+.[QF6VE%NF/F&"8RWWU_$'(Y^'/&?A2;P5XBO[6V\R[TVQO
MG2"Z*MYMO&I5XQ,5SF,9"E^-N,XQT^Q_AI\3M.\4Z=;V-W(EOJD$$<;1NP'F
MA4"JZG`#!L<'KDX89P2`?'7BWP)JWA&_-IJ,0C=,BSO@"8;B'/RI*PP'0\;6
M^]&<^X/)PO(KON5D=-JO$W50>A4@X9&[..",\YZ?I?XG\*Z7XMTJ73=2@1MZ
M'R+C:#+;R$?*Z-P<$XWKG##WP:^'/&OP]U+PI?"TNXV,.6>SU%0?+DCSD([<
M!HV!`93AE/OU`/4OA5\2Y+<VFBZ[</\`9\+!8ZA+DF$;L+;WA)^:'HL4Q)*#
MY7.WYA]4216.L6S6TZ131O%AD(#+SG:5)SE3U##KZ]*_.6$FW(5HVCD"@[.2
M"AZ-&21YD;8Z]N0>0*][^&OQ'ET]HM+UJ=FLE`CL[Z0LSVI=E"PW#$DO:9X#
ML<P\C)`X`.@\7>![G09WO]/5I+!FW,H4DPC^Z<<[!GCGC&/6O.PWFZG;G[I1
M1D8Q][S3QGCMSCVX]?LF'[/J%D(Y=EQ')&-Q^5TD#C.Y2,J5(/RD9&".2:\+
M\8>!9-+ODU/3(V:Q#L\J*-S0Y4@8`&2@)/4$+]!0!\R^)%`U^]X!S(G;_87O
MZ=!GID9'K7H/A*'.B7#(0CB6<[AT8>6#ANQ7Z\C!(]*X?Q'&6UR]8*<!DW;>
M<?(O)/N`.21C.>H->A^$%_XD=UWQ).0!_P!<ES[8Q@<=3S0!PD0(?G!R[8]<
M@G/USTY_,<UZEK"_\2*T(ZXM\Y&.2G?&.^.U>71EC(3M;[Q//`R6R>I]NP[]
M!7JVJDMH%N""#BUR",$';U/.,''&/RH`Q]`!%_!@]R,'D<QG@CIQZX!!QW%>
MD6RGSI2?[J'I[MP,\?CUX[5YUX>&=0@SR<OG';Y&SVP#QUX_#D5Z9:IF>0#`
M/E(#_P"/?CUYZT`33H/+W9[)GCG^$>O_`-?'Z,N7,#6[J0#M8XXZ?+Z_7\ZL
M7'$1!X*[<CJ,9`SUZG^8'3DBIJ2_\>I'`V-C..P0_P"/KCTZT`=#:W"SQ#9C
M/&X<9!)SCCM[^]7-F[!7&0!GKA@"!C`ZCTS6%I7`DP,$8R>>O7(`XZ]0.>E;
MULZR`%>HR"/<?+G\?TXYH`FB8@@$8.2.>V.Q/!..N?0C.>ITXX^">-W<>WL?
M3/J?K[U/*#991R`/QS_7Z@_48JW`V>#UP`">/P(_#_/6@"["/NY/3CW!^7D8
MSGT]*T83@YY/0=.O7]?;WJI&O0CIQUSGGZ=_Q_2KD789[Y/;Z]\C@'T_K0!O
MZ:<B7K_RS_D^/THI-,^Y+_VS_DU%`'^<?^V>0?VW/VRPH9E;]JS]H@.`JML)
M^+OB[!Z!L,4/3N,DY.:\%\.(6U%N,DSY*.#O4;&W?*S;0A!&W;RV1@*<U]`_
MME%3^V[^V63N)'[5W[0P4JQ'`^+?B\`-C(;YCDY3"J%'))SX1X8A63595(_>
M%PR[3M.\H6V`[`';+(H!.=JGDY.`#?NX2NJZ<6`V-<0@,R$@@X7&5VDXX)QD
M#`/1J]I\2697P[9B1/+$-M`\6_#*2T:G).X*RR#KM+#=RH&:\?U**2/6])"G
M<?MEO@L<H6#(`H5F8':<;R`N#D;!A0/<?$$5Z_AV"01LB-;0[E`VJ0BJPY8@
M$*1L`^9I5VD=\`'<_!_3I9/!,E^D<KV\/VFVN)5&Q%-Q/(8XGVG`#(I&"">"
M2%ZG[&_8"M_LO[0,FU4>/[-I39!";`NOV2AR5.)-_F*,DL,$'KROB_[/]BC_
M``!\=@1AIH=5T&82/MWQ"2^U6.1`H)9E?<N"W/&.`O/O?["5LLG[0QA`BCQI
ML$\FYS&(S#K%A*WS!<!E523&%8'.T_PF@#UJ*)(/VGM(:/`6+XL(N`1OWIXA
M9?E&00-K!>Q;.",@5]<?M7K]D_:0\*:A%D/'%X!NGW#'[R&2U7[Q&3M$?H>5
M`W#I7R?XID2P_:;1HW>.*U^+)9VC7)B:/Q,4(#%`NX`97Y<J``3C.?L']M&P
MCM/C?X1U0/-Y=YH/AB>&3(PPM[Z>(N4`Q\ODX=MHP<<9&:`/IN\;R_VX_#A<
M)G4?!M];298@DW7AC4&554+@,3&"HR>0<G.17X<_\%+DNDUWX(2@LJ'X;ZM9
MKM<A]^G^-O$$#&7"[E*[$#[<''!]OW&\2QB#]MSX27S9']I>'].5F4@B19=$
MU>'^,G#8;@=02"<YP?Q\_P""G5GIL"?!JZG0^;#I_P`2M-&Y5)+6WQ!UF5%5
M1RQ`<`K]U>#D*:`/R`MY663S)B2T@9"VW[LFW.XDQ\DC:%.``I<EOF>M1&<R
MP1N6"*S.2`Q(49(SAC@DXPPPV&)/&6%.>^M7BA:*-HY4;=-A`@E#Y12-OWAN
M.0,@[2W)7)K>TJ)/+5V^=78N&5BV"Y"DHQR%QG&!E>H&0<D`=I\K))%A71DN
MMZC`4+\V]N02-S1D!LX"JPW/BO6-`G1UUE@ZF,6DA#>:O0D/M50?WOSGCC)R
M-I``-8^F6B7L$R);0J8R%8-S(RLH;>A7&,'C*$$G(((;%;.G::UG'</:QEH)
MK*563&TPLN%=21@X"X*JP'RYXX7`!W%MK"6+7Q(<+)!9;BT94$K;\;6/`+<#
M=@;R!C'09%E<7-_)$;:&240W;W1*J<LCL",/DXR.,\],`XR:)X'O;]+68L%\
MBT9\A0,Q1(L;,2<L!D$KQDD=>171Z19M;)-=VX=/LRLRX56C\Q2HC;D@XWNI
M8Y)&,X/(H`[W2-1NK3Q#>ZE)HMU:VM]9Q0);E#*T)C!5'#`@E=PR&&['U!!]
MO\/K!<V&DF2)Q]IUVR<H1&A*1&5F&PY+.-A8\<L0QQ\HKSCPJ^OWUE/=0NLC
M1230)O51MV@,_#@E021P#U[!L&OJKX)>&K'Q/XW^&F@Z_@66M^*["*\15`:2
MWFB<,JE0#\Y/EY5@1DG.10!Z=\.?#UY#H/A?79]'M9-%U+Q596J75Q*D>][?
M6(FG0%I(E:5(2'DC8L2,%L#)JOXB\(ZIXG\<V6IQ>%-;4:CXK\1WYU/3;8W%
MF?M,\T=J9&,31@$RH(P9OD7E3FM?XO?$V^\%V_A?X2?#R*RM[/PEJVMZGK&H
MSV1FNK34;G5[Z&TMK>24'8\6F)"Y=07!D5<Y2N_^$/[9%_X2\K3?$S2-92R)
M"UV+02;)1*I9W@*GS5`4[BH+*OS8]0#Y7^)=@VGZ)J<#VI+&>&PCEF+PO;R)
M,&>8(.K[8I$\MF(42,>P-?.5LMU`Y6*XD5CC^,G(("YP=P&T@'Z9QC((_9O]
MH3P_X"_:&^#=YXR^'VG:?=>-="O[">XL/#<'_$RU6&[F$$HGTNVC61KA%<3B
M8P_=64,[``C\L?'OPXUGX?MHJ:_IT^GS:SI$6IK'<P3VY5)9)45'690T<P\H
MB6+`V-G"X()`//XH'DF.^=GE;[S%@S%AR7"DDM@\$<`8`&?EST]MDQOY:(41
M0C\;F<#AB!@;>23TQM&,C(-<FEVD4I9%`V*>Q.X8!.1G[NTMC`R'P>A!&]9F
M!RI>YE03!781DGYRI=@%W`8`R2I49<$`YR*`.F2R#V\5S&P4(5W<9+J1U.<*
M&'KZ<<@@UTNFI:*4.&8DE6$:$G'.2K8ZXYQD$+UYVUR<=\P2*T#!HD=I&DP1
M@HH*@C)[\8!.YA^6]87DJ8+1R,"1R$R5S^0*]/F)!/8\<`'HUGM4I'#8R,,$
M`/A22#@'<<XY(^\`!D<COO(SA4_=);ECB3!\UCEN06!P0&!SC'H,CKQ5MK0@
M4%HI0_\`!P<@9&&."?O8QZ'U/0WX=0O+J3:BO$N7W-)DA6QDY!X))QA3C..`
M`,T`=-O7<0SL<%>!D#U&T=,<Y[YVC@5N:5>?99\JQ*3(4<`_,=P'4+@G![$'
MD>U<@99"55C+*40IE`4*C);`P.@`)&3\JDXZUL63%2D\<;NL1!E51\P!X^=L
M`*2<'@\Y[<4`?HM^S-\&O"/Q(TB^U_6]4DG&DW<5M)ID1\J5&>-Y1>R.,R);
MPG8L)QB256#$*`#]<>#I?$W@?5KG1-1O;34-$:=QIFM37]O&4LH`&C@N87?>
M\*1'8)-GF1OD(Q7Y:_.#X6>*_%/@;P7J/B_P]>/I<&H:ZOA^:0&-O.9+,WJH
MBYSMP3N)0C.T`@@U[%\/?BUXDUS4;N?Q#?R:U:II=[;F"81HB>9;RA%AD"[H
MF,NUW*`;A@,Q&``#[T\.:5::[XC\:MJMA');W)2"2TNE24&&[5766)L8:*54
MW0S(>><$'*CP?XA?#76?AY?KX@\+M/+H?G^;^ZRT^FLSY,<@7[\!Z9(VL@P1
MGBK/@WXE:_I4'AC5M2TZXN[+4=)CMKZ^M2MS-;>3>7/V=Y(HP"84@8+)#)\Y
M&)$*/MKZTT_4M,\1Z<&3R;JUNX?GB<"2*:)Q@X5ARIZ,I`>-OE<*XH`\T^&O
MQ.L_$5G!I^I21P:G&BHI9@$N%`P'1B>0<#*GYD)P<KAAZGKF@:9XCT]]/U.!
M9HG0['P/,A=EP)(VZ@CN/NL,@Y!X^6_B%\,+[PM>R^(O"`DDTY9%NKFQA#&;
M3)"Q820[<@PG!VC'3(;'?TCX:?%&'5X+;2M8D6.^"B.*9N%G(XQSC;(,'?'C
MC&Y>#M4`\1\>_#_4/"]V(I4:;368M97\2DF+)^X>.%7($D9[<\\$\+")8Y5A
MP$*H&(5OEE4GAHS_`!*3G<O4$$-VK]$-1TVPUFSDL[^".ZMIEY5@#C(X>-L'
M:PZAA]#D9%?)WC;X<7'AFYEGA22XTF5RT%S&,R6KDY`/7#*,!@1L8#(XY`!L
M^`/B%+HH@TW4Y7ETQL+#,Q+2:>20`%'5[8D_.AR8^60%>*^F;>XMM2M\@QSQ
M2(""K!XI8W'#HPX96![9Q7P.IDMI%6;&6/[IQ]RX'5=G!PX!S)&1D`]U&:]B
M^'_C>31'&G7[-+I<SY1E.9+*1FRSQ#.3`<YDCZ@#*#@@@!\3?AS+93W>O:5$
M7M)M[74*<F`DCYD09)3`(Z97/&.HYKP?&1HMRI!4B:<'/!!\M>O?./7]*^O(
MVMM0@/S17%M<Q`HP(D2:-U_%6!].HP<XKR#7_!(T1;Z^TM&-E,9)I;=?F,3L
MC!FC`YVG`..W-`'S-&,R'IQ(V.!QS@$#O@_X5ZQK"[O#MM(0"56UYY!Y0#J,
M=.>V`.37EPB*N[%B,2E<$'(!)(R>>G3GOC'&:]8U52?#,/8A+3''/0#IQVZG
MGWH`Y[P\,ZC;CIDGGC^Z?QZ8P/PKTZV`%TX'!$:<\CN?0Y]_Z'%>:>'XR-1M
MB&.=QY..04;MTQCH,`C\S7J%MAKEQC#"%`1_P(YSC![Y[#KS0!9O(PT#,H`9
M0#T]QD?C_GM5#4A\EJ<_\LSGMG(3Z\$@\]<]NM:UT"87`_NJ?;JOZ>_K^N9J
M@Q':<#[K?EA2!^&>GO\`F`6](!/F_0$C\\CC!]#G]/66WE>.3<I_B.<<@\].
M,9_+.1W[MT7E9@>H"Y)SCJ3_`/6SP1GWY2,8=NWS<X^O\\=>1S0!UD+;@"1@
ML`<?AGCVYZ_SJZ(P3E1CH3V_//-9KL8TMV&.@R,]1M!(XZ]^,^XK5MG$J@@]
M<9]<_ID=.G'-`%J-N`#QZ9_#CM[_`.':KD:\9`.<'."1S@^GX_H,]#5=(^1Z
MCD^_\^G&..U6HL=\@CIQC/7/';^N,]Z`-S3?NR]?^6?7Z-QZ\44NG=)?^V9_
M$AC_`)_SDH`_SEOVR4+?MP?MF-Q@?M4_M#;3CY=P^+?BX<<@94;,LP(+DKS@
MD>'>%"B:QMD<[C=1L[C&\DA\!6QD'Y2.I"Y4D*3S[5^V5#<C]N+]LN;[2;=?
M^&JOVB"B*GRNH^+GB[!8,5R7&'+`;?E!R<YKP70;!KS5<&25BDJ.WE$QLS("
M<D(,YX()QR`%`!(P`=UK3Q0:SI\C$NHNTD(R1\OF#(^:,'D'.X_Q@@^_OVI.
MD_A6Q$+AV:%7#(X8(%7.7P=LBE$^=%X;:?D)P:^<+S1UDU"QM7DNI+B>[BB9
M)3*S%99(]NS<!EMPVG!!)Y/<5[E>>#K.QT6*0?:+=A;()!%<SK&TFP`,L>]4
M#`CG+,`67C&<@'U%^S?/"WPA^(MN98UN$N-$9(I5P\@_M6Z+"-<N2(]Y+A3@
M$@`\@U[Q^QW(UO\`M%6`C:W4O9A6`,2F1!?69?<C*/,9R<X8@C^(X`%?)?P0
M\,V,GP_\67!%S'<37E@Z7T%S-;W$26NH7*M'YT,HW1SJP,B='94R/D!KW?\`
M94\+1ZQ^T+8V<]QKEW"\"/#<6-[<176G,M[;8O9&1U>5+;.&!+J^5W*_<`^L
M?BO$+3]I'6H\*C0_%:1=RC"QX\1(HWLO'1B3N&W=C)!-?9?[=44MAXP^&%W(
M!([>%(8O-&UE#VVLWA5B-O*D/G!/<$=\_GM\7-+UJ3XXZTMQXDO;F>?XD2*]
MS/!:BZE4ZZJ>?YL4<42R`A7QY0&X\CJ*^U_VW9O%>E6_PAL[L6NJ)9>&;I5U
M:2X:/4;Y6U0[C>P>1Y"2)P%^SL590'*J0U`'USXVF:/]JG]FW4&C4?;],T*%
M9-H96+V]VA!Q\H4),=I!`&1QD\_DA_P5*TZ2:P^%MPMLS2V/B_XTZ9,HQGY?
M%L%[&I`('W;E60C`PPK]2?B1XG@MOBQ^R+>ZK#+I>JRRZ)%<I%;W=Q;)"KZ<
MR31WHM4BGC=9&W"("2,N489Y/YT_\%3+$RZ)X4NK4((XOC%\7[4S,\H#B:'P
MS>H$VLC;@)=Y4D`9;;SQ0!^(<EO'L"NGEW"%0Z-@9P6'()P&7/1@1G.,XK3T
M\L('W?>5E?Y`.'$AR`0&&!G`P?X21P!45W9RQ1&>1HOE<JQ"G<Q=1GERP53\
MIRQP".<?,#-82*L!Y.6C`PQ'S,)`2`JX.,9^8.0.^.I`/0M`NME];$JH,Q,;
M!^5'FQA_F(0D#(<@#!)(]VKK(B$.KPNV#%&Q&U\*CLK*^T*V#D@`KD;B<9X%
M<1HVUI[0,X`^UVZED`PK-#DC&-S`@'J<DG&0!D=@C+OU;:"%,49Y7E0S-]X9
M)4[MH.#@YPN!DD`[K3=,\[5C$"0!IMI([X!*LL8E!/!X9EPW7Y`%!Z&NNT:P
M,FB:M*439%PVTLIYN$5LA@%*YVG!/&\@<\"#0$C.J7,FX3^7H=C*C@[N3$WW
M]OS+RIX.&&%R<`UN:)+Y_A36&#;<W-L,?-D[[Z+=U*_>;:74L1QN<;<"@#V?
MP)IR+9:Y#L3]WJ,VX1B-!@VZ.`@5R",!6V<C.1@@Y/UKX*T"/P7K_P"S]XHO
MKJVA34KQ/$,I&V-;>VL(9'$3.RLH,\<98\95WV`8Q7SQ\/O#^J:H/'=U86<T
MEKHMW#>7S[$_<VTUM:0QLRYQ^\DE6-/+R?E8@D#(^B?&.+OX<_`&\>1A)#:Z
MUIJPG<)(5LR(_F)4-A\L0"2J]`V.@!Y-XNNCXAU;Q3XFMX<'6O$.I78@SN,7
MGW3,H#CG"HP[%<C)`&*YS1?#\D^L3&X4&.SCQAMSE?D1FP_W02T@+!><X#`X
MX[:P@1='8L5RUY+E0`S$K<,F%Y89)7VSQWXKHO"UB3<:W)MW;YM2P&^<?N6B
MB8%LCYUQT!(QU4#B@#Z7\.>,8/A!\*O#%W8![;5]6N;W5;VYLYVMQ=P2RM!:
MVM_(&5MD*VY:%#]V-F(`,A-/^)?[1'PN^-WP#\>Z!XWT2PTKQ9X:L;.^\&:M
M&[7$]QJT5];QFQAFE3[3')<V[SO*GF/#-&)'*AX^>)_;0\,'P-\$?@K]DD9;
MCQ))<WEZ4E<9C73+2>*`+DA4C:X7<R8W-D'`R#^9(N#-&0)'W+M9DWL0"3D#
M)!!SN&QL@E>@H`M-Y;`%57[[+DE@``/3)'&XA20,\D`@$C:M;8-$1L9I2\01
M@24$93+8X&W#X"D`\$J,=1S4#H7",-RX"E#\K*<,O0JHW#=UPP4<#GKZ5`L,
M$EL"V(]MNL@Y7:2JEG'"J`,Y`XR1G@C)`-FPM3(K01*?*@3"1JJ,',)4233%
MF!()8A61F8G(P,'.HJ/:R(5#+$0(Y(V)(C8#`96]&/*@],X.<8I+&[73YW(9
M$5DD"R21/*C1R[20?+8,&5E#*.5R3G/?1,\5UOC1"S-#E^BE2VYXW(R0C<`;
M<'J1@DC(`TAI62)<KYAR><D!2?GZ<`9R!V`)R.:Z4NEC`G"O(W*`GG@+AV)[
MG!'S+Z>A%<]8OM5I)`I"Y"?=<[%)&"0."Q&#@].N.E:\=K?7&9"(R9\E0S`"
M-`>,;B&Y`4<'';N<@'1Z?:O=HKB=(BS;B[N1C(<DX`SA<`<;1C)P>17I'@#2
MTU&[U*WFPT<FD7$@W8QYJ@&-1@#!9D*K[L"&')'E-O'<VQ52H<?*I!8L,]2"
MP(R#DD9R">..:]+TG6;31M)GM[>1I=2OOFN9HMRI!&H7R85<`,2N=[E?EW`+
MDT`>RR:C+!\'E\'?97^U6OBPZOB*-GEWM9^1+NE3<?+6/)XXS@@D5N_"&YTV
MR36)M=BU2:WFL+NW6RTYUMKHW?EJ]JTDDD98VCR((K@1;7";F)`&UN6\/6%]
MK=A96MN]R)KN9Y42!V$TL3943W,IZ(@3@`,Q!)"D!J[S1-+O?"MQ-)JT=Q<6
M=K>65K?J942YC>[5Y('MY</NAGB5D67:,2X1U<'``-Q?'&NV4\DEE<36<1.(
MK2VE_=11`JJPA,KN`50&)3+,I9B23GUOP7\<_%.E1+%+*DD<9:13*NUD+(`2
M3G`+#&X!3D8Z\&O%O''AYM#U:W)L+N&ROM/BU:R<@E98;LJ]MEE4854=O.&P
M*)$)0%2N-7X?Z5!XGU_2-!CU."S6_NA#<3S2!H[:(+NGFDSDA8XT8Y'RYVY*
M@9`!]R_#+XM>*?'.O1:7_9UM=:?*,:C=M;XC@M8XV$F9$98R[Y`1&4E\D%3@
MXU_'OPJ>SFE\1^$XV1@QN+W2XR005&XS6FWE2IR2J\],9`&,Z+P3JOP>8:GX
M3GN-9\-S^2^K6LNPR[E`S<KY0PN`Q:&5,A0=K;E9MWNWACQ3IWB:QCN;2979
ME`>-L+*C[06CFCSE)%Y!'W7P2A(!``/+/A[\3/M'E:/KKE9U;R8KB3Y69P0O
MES*V"DJG@YP'YQAB`?<[BWM=0MG@N(X[BVN$*NC`,KHW<9!P1V8<J?>O'?B!
M\-$OVEU[P]$L&IK^]N;.,!([S;DEXP,;)^_RXW'IZ5G^!?'\MJ4T?76D5D81
M)-.&22%P0IBG#="",*[8!QACGYJ`.5^('PXFT>5K[3HI+G1G+RR1H"9;&0$;
M6W`$J`3E6488##8Q@^9PB2#&[D''E3#I)S@#:?NR#@,IQG&5XXK[K_<7D!4A
M)X)T*,I`9)$88*L.A!'4&O`?'GP]^P"74M(A:;37S+=V2@EK8@9,J'KM&2P8
M?=(YQP2`87@[QK=Z))':W#/<:69-TL0):6V)!Q)`2>!G)>/HP&5P>:^D[*\M
M-4LUDC>.>"XCRC*0T<BD<_0]F1L$$'([5\4VZ20D*?\`5R,=DIP6;G*)+QA9
M`!C'?&1SQ7HWACQ5<:'(L,FZ73Y6Q-;AN48X!FM^A60`\J,*XX(S@@`V_&_P
MV-NL^K:,I,>YI9[0`G;P27C`'(ZY`SQTXK"U(D>&XG5N52U7'&<@8(P1CCIS
MTKZ.TN^M-2L8Y8'6>VEC`0C!#*!C;(IY5UZ,IP<CFN`\;>#]^F3SZ6F`"DDU
MLH&&`8EFC`YR,@D#KST%`'B7A[_D)6V>1N)/.,_*W<]@><<>G&:],A0_:Y&0
M$GR4SU_O-P>QX[\=<CK7GNCPM%J=LNTJ0PW*0=P8J<@@\\'(Q^?2O18\K=G!
M_P"6*X&2"<-SSG!Q^&/0T`79R#;OG@@#C/N!^-9NJC,-D,<[6]L\(<9Z=L_X
MCBM.Z7?;..C!058C)[<'U!Q@_P#UJS]4Y@LB1R%]_P"XOH/7&.,_A0!:T.//
MGX."%0@]B!G@^QX/KUXX&6J,2-TSO8'\&';KC.?_`*_:;0!N,Y[!%X/U/'3G
M@5&,F5^.!(W_`*$<_P#Z^OY#`!TEP"8+<YZ>G3)7'T]<=/TJU8#Y^IX`X/U'
MZ_RY]:K3_P#'O#US\I*GKRF..GUZ'D^Q%6]/'SGW4^OKCC\OK^E`&U'R<^H_
MPJTJ_=(_'\CD_P`OI[]:J(,$8X'3].G^%7HOX?Q_K0!KZ?G$F?2/\L/12V'_
M`"U_[9_^ST4`?YTW[995OVV_VQ1D2$_M3?M";P^UMJK\7/%_"XZ*$C*DABRX
MP5&3CPKPDI?6MHRF^XC"@*%"D]]QP!M)#$G(R.<8R/??VQ`5_;9_;'(!7R_V
MI?VA7WGYRV[XN>+WPJ8P=K$C&,$':=Q^]X9X0+C6'*R%6>1<%5+$9"DD'"C&
M_@(5("X#$X.`#L=71WUW14=]X;4[97G#`L5,Z(SLVXX`!+$8&/F(8\"OHG6H
MMOAF$1HDD<2`GSXXVX5MR(F2"X9%!`"-T9"3C)^>M4A9==T)6>)P;^S3S$SY
M)=9TW!MS2.K%V`90H!/)R,U]$:[(&\/(A7;''#$A0+DEB/+<-T4\]"2!M.0`
M,4`>Y?`*S@F^$_B)MB,?/3SE`C5U(U64*4"D$':WS8)+8`.!POOG[%>E0#]I
M&U"R31F33KUV?`=2B7-JZG(^7!/RLI+$`Y;&W-?/_P"SA"/^%<>,Y%8,=D6Z
M/S"I&W6T1F2/?A@/,7<2N%#`J<\U]!_LBR"V_:1T>99I$273M46-"H!D"QHS
M0DY)^;80%&,$@G!`(`/1_C'IS6WQ\U])4`$'Q'G\MMN]1MU]L'*@;D.<D#)&
MW.3UK[F_;VTY%A^%[OT_L"^(D0`DK'=Q2;HP3M(4,H!!R,D]^/CO]H)9X/CS
MXN4^8J/XXN95VC;L!U49=5X!;`W<#)^4`YK[J_;DL!/HGP?GWM+OT758B\JK
ML;"V$A'&"7(<%@!QR.Q-`'H?Q;CBC\8_L>7@<%#<>%C&[`%)/-;0C@NRDC@X
MX)PQ!'I7YG_\%/+`V&E1Q_:+QXH_CO\`$@QQ/<326\<DNB^%I5:VCE9A#(P8
MB0KQ)&B`@KD#]+/C.6BA_8\U<E'A6?P@S*#F,J#X<=V4*20_RD<`JHW<`U^?
M/_!5")Y=/UY-I4:5\>-=9"-WRQZKX.T&6)E89VL7LFP=V0<_=QR`?AS?-</;
MRVDC,7E>*.,`DH[NP4;L!MIX()VE<Y]*S(Y%MXY8V&)%3RU0L"=V_!7!9FW%
M@R?*NT9Y&.1M,)[DR12,([4"+S)Y5*993O1%8!<ODC)Y8Y`#9K;T_3+8^6;6
MU>?+9,UV!%&7=@YQO8O@D[MQ<[LDG'8`AT^6;S82D$I=9[=XQ&H(Q$"I;@':
M2QZGLA.Y0"U=UIEOKMS)-/;64Y61HO,239^\"R*?F#9P&.!OR#M8YP:OZ/92
M7$D8:6TMLMM86L<;2!5&,*,'<?O#(V\#@@[L>HZ-I%K(/*%[+)(RXV@!&#$X
MVLH?<@"[1G!VX.$R<T`8L;>)KC5=3O8M*6R34]\(@^V6^VUB=9-BH[_-Y2B0
M`[54@94C)!KJ='TGQ7:Z?/I)LX)$F:VG=I-3@C*A)XYTR<X8R")0I8G`R0#D
M&NQL="T5YO)E2)9$(<JY??DDI_$5<@DJ>`1R>5PIKNH?"VC0LD4HACDF\LQ%
MH\%_ND+'G`R,L`>,]R>*`/KW]FKQ1\,M!\%?$6R\9ZM>:/X@\=P/8/81PR:C
M;V<44-N+6\748I,^;',C3B!E*[L+E5P1WEMX#\,:[9^%;/P_\>='LET-9H[*
MTU?3[ZS%P][=R.\5U+^]B1E\\E9BLGR(BN0`<?&=EX>TJU0%S%$C$;6/F1A1
MA0"Q4J,;L_-V(`!/`KO[3PQ811I.)0H+!U9;F9%5/E;?LR5888%26(Z-V&0#
MZ['[,/Q4U35)HM'U+P/XFB&HF5;K2/$FDBUEM[EA+"L<3M;NDFT!)%:*,F5&
MSDDD^H>#?V:O']M>:LFN^%(=&CTNRUC4KFY:\4PW]O%=PRB*VDCDNH)[B2`L
M4C7RL@$,VXDU\4Z5%J^GRI<Z/K^KV#+DAXKUBI4X*;=I0\8XPW/;&,'Z$\#?
M'[XT^#R$M_%3:[9*`KZ;J_\`I",F1N54N5;Y>.0LBY'('6@#UC_@J'HY'@;X
M3"QLRUAI5SJJGR5`CL[5['2H[?<!@A2$V`+D`]0,<?B4L9C=98MQ4*2R+\K8
M;E>/F!Y"GG^$=03S^Z7C+QUX&_:]\)V?PJ\<2R_#[X@VDDE_X5U:.0_V+J&I
MQVSQQV-_%+@10WC`1`K(RQNX*/GY:_$/5=/GTG7M4TN?RXI+#4;VQF19-Z++
M:W$L$B*P?)3=&0A+-N!R#TR`5X4WN7)**H3D+U)(;G:HZE25QP3T/-=O86T5
M[;7D@O=S6-M'<R0S#9)<*T\,!CMAUF=//#E,Y,2$@\9',VE@3+'&)0?,5"26
MVY`_A(#`$G(4#)"X))P`#Z;H>EV<<3>=$CM$!D-DE%++N;(!W8SG.,9)(%`#
M;*YTA+9(A;:C<W[2!4$S@6R9PH*1JH<N<XY<`EAQU-=4EG'%&+B,I'*&431;
MR`=K'Y2"Q4E&##@X!SQTK;73M!EB@-O;E(&4>==M$682[<*R8.Y%4DY8=6"Y
M!"C-;3M(2&^FTZY#3PP31,)%#-YD%PV8'\KABK$J7SR%#9Q0!'IML+D2/(5$
M$"X'(`+AS\Q!)Y))P<'@9'7BQ+)/M$JC]VSF($-C&W;N#8/RA492I(QP,'J!
MIZK;0Z?&\5HQ>1Y/*D4*45I/F.(UZ%@A0;@#DYYZ5J:9X0OGMX9KEE19V618
M'W<X^4C)Q\^`>2-H'RY&.`"MH%Z+6]26<-)"!ET9!+N4\JWEN5!7D#);H2PX
M`!]?;2+6>73-3GLX+'3YC%"P9G5YY922H(4,J;4P78$A!UQP#1T?P1IL_,CR
M/)&$25$(^48``<*N=P^8;<\#;D8S7U=KWA/P%I?PE\%:RVO0W6MVUSJGVO0?
M-6YD:'S-\$[B&17LW@C1D\Z?S3(711&P7``,6TE\;>(X_"\OA+P='IVG^'-%
M33-.O+:2QMWU!K:^N)3JDOVR91>&YDFEC>)E`:(*$Z8*:XGBNT\[3_%]O<:=
M=WNI6>H7<]];"WGN8]/39;6MI#"K0+;QMO=I59U.,'+-FO&;;Q?%K7B"P2[N
M=<LM(-W:6WD6E]$&@L/,$;)'.T2QQLJD%&:)U'S,^XD9^IO!,GC'4]%&A^-?
M"^J^,?!-Q`SV&MP;=3U'PU!.[+;W5M=0@-]IA0![BS+-%*HVNJ$T`/\`',GB
MWXI:9X4U;3K%["P\-:3%X<GU"/S`E_.LKM8VL,"[I+J>*S5#,(U(!<E@O&.#
MC\.>(-*U*T^W:9(MY;$727*PS6R7,-GLDG653Y3*PB/[U1@O&WRC@U]/VL\7
M@GP/HEH!>:CI&DW?C7['X@MK<;'O]3L98]$FOX5/F65RL\AB'G*B(ZJZ$J%K
MK;E-+\1^%?"U^B7+QBRN)9KN]C>.Y(33+L7D+F4%VBAD0_OF8I(60*Q`%`'I
MOPC^+^C^+;*#P_JJQ6&J1Q""U65\VVI08VI$CR%L3K'A/)<D2(`$+'*UK>(_
M!NH^%[]_%/@M2$!,FIZ*N3%+&&W,T$8YP.6`!W1L-R$"OSPLIY]*NHY()WB5
M)-\<B%AL=6)4JP.Y67`VD$8(Z]*^Y?A)\:8=8AMM!\47"I>$1P6.JRD*EV2N
M%@O2QPDS#`28_+)G;)AOF(!['X1\96'B:TWQOY5U%M2YMI2%F@EZ,LBX!*[L
MA)0`K=&VO\M9?C3P%!KRMJ.F".VUB-<\?)%>@#B.;`P).FV0^@R1U.?XI\#W
M$-X?$WA)Q9ZG&"]S91#;!?1]7"H#M+2+D-&05?.5P3@]%X3\60ZU`8+E6M=2
MML)=6DV5DC8'!9=V"\&>C'YH^%DR,-0!YMX.\6WNAWTFD:YYL441%NT4^XM!
M(#C=N)R8CT1U!`7J2OW??$DM[R`21&.:"9""/E961A@@CD$$'D'/!&.,5Q_B
MSP;:>)(?.BVVVJQ(1!=*!B48R(;@`?/&2.&SE<GJ.GFGA[Q+JOA/4&T;68Y%
MAC8QM')EBF3P\1X,L+9)!4DH",<96@#1\:>`/LPFU/28`]LQW75D!GRQWDC(
MYV@G(QDJ>X'(\?,!ADR^6A!PK'JC9&(Y>^<GA^`<<\\5]E6=W;:A;K/`Z30R
MJ#QAEPP&5(Y!'7@_E7EOC'P(KF74](B&6RUU9@?*RG.YHP.WJHY7/`QT`.#\
M*^)+G0YR,F2UE_U]L2-K8',D6>$E4=#T?&UN.1]`Z;J=IJUBMQ;R":)PHSP7
M4G&4E09V.N<,",$>W7Y8,#6[-PRJ"5(8?/`1GA^<E,\!^PP#ZUV?AO7;K0Y?
M,1@T3@">!B=DJYZ@=%D'_+-QSV.0>`#T'7/!<<EY%JFFHJ3++OG@``#@YRRY
MR`P/)&!GK7.RPGS'C<&.6-L*<;2C`9(/3CL1R#C)KU;2-5M=4MUN+9]R-@$'
M&^-\<QR+V89P#T88()ZU0UO0DO/])MP%N%!++T60#G)]QC^G3H`>>.S&WDCD
M&)57.>,2#@;E/XYV]1GOFJNJX%K8D\'&,'O\J]ASVQGMWK4N5:..1)4PZ@@9
M&,=.G<`\<CKZ\5G:JN;6R8@8Y[9P`HR?7'^'7U`+7A_!:<Y!.U?KU.?H.>G^
M%-P/.D'/WVXYX&[I@'/;I]>:704#-<8X.Q<8'3))[@<#KC^5*1B:0=?WAYQ_
MM=_S_''M0!TER%-M;D@]%]R,KTXZY/H/?@U+IX^<]?NG^8'^??BHK@$VD'OM
M'_CIXS@]O\XJ73ER[9)R%SWQG.,>G//'7GH:`-F+[N?=OYBK<7WN!QR>F">.
M.Y]#CGZU6@`93VP>1TQD].^.^/7L,=+<?#@>WL/[W8?7L*`-BPZ2^OR<?]]8
M_K12V/27ZI_[-_C10!_G9_M?H?\`AM;]L==P,;_M4_M#'S&!58RWQ:\7D`LN
M-P63.=Q)52`"#T\6\#!1K4ZS*2VY&`7+#.],D%,@(H^_ET)&`&P`#[E^V`@;
M]M+]L;<ZD?\`#4W[0S!2FY8_^+M>,`6`)P[@!FW8/EL6!*JN*\3\#9&MSQJ"
MK;XV;!5G(&%8L-O&0&R0,9#`9#,"`=;K%L#XAT/)A\LZO:[T!9>7N(QO<%%P
M)#_=R6VA@2>GT;KMN4T--\K1%X<9`!4!B5.58%'9@JMD@[0>`,UX!K*&'Q#X
M?7RY6=M3TW+[0QDQ<#.U"H0$;@2"26())Y%?2>O(%T`,R.&`?:QVMOP1P!PJ
M]/F!..`1V%`'K?[-5@#\,_'<LK[%\M#!(BC$SQZ[:*Z,.<-L<,2-@8#C*8S[
M%^R;=16_[2?AW]V93'%JX5&B\T%WM9"I#DX##*D[2=IR,DG%>1?LU1L_PZ\<
M1Q82$AW+-%P=FJV1Q&3PA1F))`Y"D'@$GU_]F4+#^T=X793"F?[6SO0,JHNG
MS%BP4K^\=5;:02>C;>2*`/H#]I$L_P`<_&5U(C6LS>+;IS`'WA66^+Y4[0`2
M#N.!@E@,#:"/N[]L@9\'?!Q&+2"32[^42,P<LS6>E%P&48+@L3@'#<#&1FOB
M?]JBS"?&[QB4V*SZ^]S&N,.?,CMY0&8X!W*V=V5/UQ7V]^U^F/AQ\#+@6X9W
MTR_#,9,[2^FZ*ZJ&/.,,2!CCYB3T%`'1_&01K\-/V2+AC@QS>&'61"I"K]GT
M8?,#\X(*8));#9&,X-?#_P#P5$A:UTSXE&[(6%OC;X?N(IL#A+[P/*,$8#8W
MVQ0N/E)VX'>OM3XT!8_@7^RW=,@\R,Z#('!3]T%M;%F4')WAO+7&6ZCU!KY/
M_P""KUFUSX/^)\L6TO!\3/A==")4(#1WW@_7T9R>6W[H0#L7#8.2"!0!^"*Q
M)!NN=BRQ1J)$+8>%I<85F!&TXY8=1D#C%7-/O&N+FU668Y9V:1?E6/"9.TC.
MT(V,-Q\PSQSSR5MJ$T,,T"N?+D``1OXN&("EPV'!/`Q@`[C@C%;VB9^U6JL"
MQ.27;!=MQ."P*KDA1AE(!)^4A1@$`]3\(R+_`&K=2G"1HK^4H^4*Y5L*`5.`
M<G'`X)X)Z^E>!6=_$&HK($,C-&V2S$*"C[B"#P!PI0L-QZCCCS;PA"_]H7Q`
M:3`^ZP1MV%V`\X!#$AOE.0`1Z9]5^&Z!M=U4'!*SQ\9``RDH(;D*%).1P",C
M)ZX`.WTMI)/&L:J#)%)#,69B2,*8MQ'&%5"P`3[PR#NVE17H'C&1HKC3`24_
MT_3X_E^4F,SQQX9MK'I@D@?,I()ZBN-TM-WCZUC4%%^S7)P&4#<TD2.Y`X8X
M50-O.T(2.>>U\?AO[0TM%VEQJ5B-YWL$_P!)A`+!1Q@$$L1E0&P><T`>H:O!
M&FC*RQ#`$F1E5<D@':I`.X9R,,%Z@GG`KT'PWIT=_P"%=,D<(7DTV.4.N,9`
M(*LP9L=.=V"2`"!D"L+5;1/[#9U`=E\_*JK8)"`D@MD,I!R&&6&<X."*]`\"
M:=?#X<Z7?R6TALWMY;-)B,1O)"Q=XT<Y+%%<'CY<-M'/0`KZ!HYN_#!FD9BT
M5[>1,-^6"V['RPN.NT$'J.6X[Y]%TCP=XJ&E>#M1N-)NOLWB>>:+2Y7M7WZF
MRW@LO+MY#DS,C%%VK_RT8*"W%>V^&_"MC/\`LP6&L66B)_:,7C;5_P"T-4@@
M5[HV8,\*^?(,/';(7C11C:9",\D&O>-(\/2WGP5^`^O12HJ>$_%;VDT3,QE<
MW?B4,AC./NQB`L^>@(QTX`/S\^+4C?#_`$^>;4[&>TUNPU*>PTV"YCDM[N+4
M[.2,7`5P`0MNL@:=1(<EE#8)6O@O4;5+UKB_$OFW,[-<RDEBTDLD@DD=^<JS
MD\DYP6().!C]C/\`@I9X?M=+\%:!J,"[C)\4/%$[%E7</[:T/2;R8!AM(430
M.4!Z*3P1FOQLA8@28;&22RG<"26^8\`@*<#.6_W<YP`"W8PRJJL[QD0\[LL2
M8V8`(N3QCG/8DCD_-7J.FR,H2-2Y$UJ%VY&&8KR1@9()^8+D]0,#FO-;<HID
M0)@LI7.Y5`YW%BK*2-O3(XS@`XZ^IZ&J#4-$0@CS;7+,7Y,A)4-T.Q5&<[AG
M`R.&Y`.[\-V$MW8W=LQ*A8H9EDSL6(NC,Q#L<`95OEPW/3.>;S6,=Q/II>.9
MY3ILT)EC=XW3[!*Q!=4(#G8<`L#@X&TD@UH>%@)W:-IE`32H`X)VA6668("0
M!N&U07*YP3\WS<ELTTMK=Z0+67R2=2U*T,ENL<Q<3B)FB*S$#GY5W':`064T
M`6=/T6.XO](D*SR-/#)J2RSN05"%(E!@(*G#NI7H<+G<><>EJ\KQ3RQ`;K20
M64?R_P`<FQ%8<C+)EF(`8;@3R*P]`>2XUZ]BFN'G:QTR*)0UO%";8RR&?RCY
M9=)2Z1J2PP1[8-=9HELLFGQJF9&?4+R<X4XVPP2N"P&,F,Y/'``Z\XH`ZC2;
M0VFCQ-&72YO7SYI&65'.]YB0,_+&'=@."1WSFJ^OZ=>7.@W":2T;&6:VMC;R
M.R74\<OS,UM"ZDNF`IF<,`-_.3D#N)K`QV-L0AE>/2KN:.-`49G2R=/+&"`"
MQ89)(3)))"YS:M+.$W0D-I?6\UI")$AO8U7R9+N-+=5B8,\<D:Q02LKQ,PS(
M<MEN`#A="\'V>FQ6SWLBO<QE9'15##SD(;:B_,9E1CACC&<@_*17T[X0^.GB
M'P7)I]MJ4PN-!+00X:$+)#:HP3Y61?+V+DA_ERHP"5(X\AL[O2K'4_M.J1I-
M%$6,=H\BQ"X"Y*1RJ7$H@.#)/Y9!DXC)`+5Z?K_Q>\-ZO\/?$7AK4_">BQ06
M^EM'H%Y86ZQ7-CJCS"2#8\K.621V=9XXR"%;=@@4`=%XK^*^@0^-M7;PVUK?
M^&]:MK*/7-)MV,VFWIOK>)KQ/+'RK<1N[LLJ`/#<H2&!7FKK/Q(T72M'N_"'
MARWN%@>5HIM2N;^XU:=[8J"EK9YB5;2'RL(T2YP=P.2QKXPM=3O]L9MWBLU`
MV;[9%@9P.<NT8#N>.K$_3J:T(-3U`,#)+-,K-\K/(V&R<Y')!)SD9QGGG/4`
M]S@U.`L!(KK&<$O(0@'?.UV#=L<+DD_3/2:=K$1FV0L&QA@ZJ=HQSDN%QGC@
M9SWYKP^QN[YMOE0(#NPI8!LD`'&3AN?7)`/OFNGMCK$S"-IG7>`?E7;\O?GJ
M`!W!'Z9H`_0#X4_&P0?9_#_BJY#V>5@L=5D8F2V).U(;MG^9X,\+(27BZ'*=
M/?/$7AZ"]`US2+J#3]1@C6=+T2)'9W<;#>OFR@["'`P)#\K!L-D$X_*"&TDB
M97GNW8C#'=(W!R"0`">@QGC()ST%>@#Q3JTMA%ITFK:C-9QQ)'';-=SM;HB9
M"($9]@`R<!1CT`H`_1[PKXM@U"WBCNKBV-RL:M.8YHC&)&SO$/S?/&A!+*,E
M0<J2A`7<\1>&M-\2PI'.NRY1&>UOX<&2)APH)'^LC)(RA)!&<$'&?SUT/4)F
ML8F6<*X#``R.A4H64`GU/7C@9]:]T^'%SK6J:Q9P7.LW=A8H5F=OM,H%PJ,I
M-M;L3Y9=\8PQ4;<@9;:"`>AZ??ZSX'U+[!?JSVSOD*-QAN(\@&:W;INQR\8Y
M!]Z]KTW4K75;9+FU<.CCE?XE/0@CKUR.?Q`JMK&C6&OV)M;M`ZXS!.O^M@DQ
M\LD;<$$'[R\`\@@'D>0(^L^!]1$,VY[1G^24<072$X!SG"2@8W*0,XP>,9`.
MT\6>#8[]'OM,18;Q0S20JH"3@_>(4#`<@9(QAB.`#7BUS;RVTAA9&3RB1)$R
MG?$5."1G&Y"021@[3TR.*^F=*U:UU:V2XMW!)`WQYPZ-@;@5/(P?7MCDUA^)
M?"L&L(;BW"PW\8R&``$X4<1N<?>/0'OT/K0!Y!H>L76DSI/"V5<8DB)S',N>
M-PSUP2588*G'.*]RT;68-4MEFB88!`E1SB2`G/RL!DLI.-C]".ISQ7@MQ936
MEP\$L3PR1DB6+;@@C.9(P,<$XRH^H))`K5TV_GL9HYK:0@G:,#[DB9^97&<,
MN1WY!Z<B@#V?6M%COHFEA`6=5)4]G!YVMZG/W3^'O7F6M0R10VL+C:\;%74@
M\G`R>>,$]"/8=*]6TG6+?4H5:,[755$L1^_&QQR!_$C$_*V?8@'@T]?T./5H
M`\0V7$>YD8#&X@?=8<9R1C)SSCK0!YUH`Q)*#P=@'3_:Z>G?'0_AW8P/VB7@
M`>:PR3D\-QZ?D0.HJ]I-O+;W5S%*A1U4'!&#RW/;..,_K5:3(N)`#TD;MCOG
M&,?S_P#K4`=!<$_8[<$`',9XXXVGOW_GVYSQ-IN-Y_W#_/'7C')_^OQRRY`%
ME!TX\O.,=<9_+)SCWXJ73,;WZ?<X_P"^NW3\>![<4`;,2\9X')(],Y_'(]3[
MU93[_IP/_9O_`-?]!VBBY&/5F_G4ZIA\\9VGIZ#.?_K_`$H`U[+I)_P#_P!!
M-%%ETD_X!_(T4`?YX_[6\1_X;4_;'9U5L?M1?M#-Y9'RNI^+GC#:6`[Y89^<
M!MI)(W,H\2\`6YDUV=HMGFQB)D+(N<L0&0<C9C);=SM(YP:]S_:T0/\`MI_M
MC,"BX_:E_:%7>"WRL?BQXO`#,WR@[SDD@(IP-V%!/B'P_C(UV[+?(T:I@[0S
MCYB``J\N=V2`HVA1RIZ4`=?K.^?7M!:.,^8^KVB`R`O\S742CYU50"?FWY.#
MD*N20!].:Y!_Q(0"S2[8I$9",;I-S9(`V@`=`2W.!@\!C\WZW+(NMZ$X`!CU
M6PD#$$E-UQ"0=I5@4?ICC820R@\5]0:G"LGAQ69ECED#JVXLT0;YP&)7)!(`
MR0HW?*.IQ0!ZC^R^A3P-\08DE<K]BNE*>7A`JZOIA())(+*S$%@H'RX4C)KU
M/]G42VG[1'@XN21/=:A`B+\K3>;I]VA8AE()4/\`,O`(QR#P/-_V94"^"?B.
M%G;>MC<R,%C*QLIU;2@4VD=5)!*>826RV21BO1_@+'O_`&A?`VYBSK?WJQ*S
M*L@'V"Z=BA.%(&#@ABVU1U.10!]5?M;P.OQO\6."8R;W33N3DJ7TJP+$#)P>
M2"#QSP6/`^SOVJ0\WP:^"-W*SR`:=&N[GGSM!TMR1C)+,$!XZ`$'DU\>_M7(
MS_&7Q,()F",=,DVS+T#Z-82'!))W;C\K`\*<^A/UK^TQ(S?L^?`V<@F-]/L$
M8D%B&?P[:G=D,3D[>2!G!&T<#`!O_%U6F_9D_9PNV(*P2::5Y`<;(W*C<V>B
MQ'*G.WC/08^<O^"I@\[P+\694B9S:ZQ\$M0>0D@JMSHWB:UR!D!]PE09`(R3
MGJ0/HCXD`2?LA?`6Y0.#:W$"?*YP=C7R,=K9;<6A`R#D].F17B/_``4WM$O/
MAG\9IV8H\7ACX!:D@(XE4SZO;L`"-R[/-^:0+M^;&1@"@#^;>>*"6W,R94HI
M;<`0"2I!+8/+#/0CE>1UP>@T+/VZS(CW]`5`*JNT-G!SP2-K$=N<=#7&#<H?
M+E5"L756R3EAM4JF[D'[IZA<C)Y%=WX;"_;K8L03Y1=#E@#D-E2""6(^Z%!Y
M``XRV0#UCP4J2ZK?A@X)5R@`4L,!=Y;!4?,=V"3E,D`DBO3/A]N?Q#J[\*HD
MC9TVJJMM24@'A>H/0CH`3D$UYWX"BW:EJ&\,&"Y0\%C)N!/4<94YP?ERH)R<
M`^H_#]!'KNMDI(\K3QH"_7&R3=N!`W+RJKR=O/)&"0#M+%&C\>:;*F?FAN'$
M0<`A<1E05)7(90HQDJ6&=V%KT+XCP!9K.3YHAYUG,X)&YF\^,JN<8P1]X@]0
M,#'(\_T_)\?Z>Z%`[6]T"IRQ(^5%*J1M`P`#D'J<$,<5Z5\0B)&L^#E9K;ST
M;#(")4)&&R<L.,;<`*W3@@`]O>`S^&5F61BR;T*`@LIVG._.-P(_)2<5]3^&
MO#QNOV=_"&LB-4MK"YELYD5PKR3WAO3'*!MP0WV-E?[S9"D[L_+X-JF@S6'A
M#2;N1=D>L6+7UD!M`>!9I[1N%+9)DMY`0Q4\#Y0,5]A_#JV$W[)-HDV'\CQ#
M8O&K,2Y!N-8C48Y(*[B&VL%'S$C)!H`]0^"T2S?LK^.K.0J/LM_K`(R!A%OM
M/N0>GW@&Z';GO@5VOAB5)OV;M#(9473O&JB,D@Y$>L,XRV3C#39QQGH..1R_
MP+C6;]GSXL62HZF"[U>3+!GC(%KIL[%`!T`B9F(S@#/0#=O>"&CN/V;-84A4
M^P>+)9%*C[N+NSE!(VY"G><,5/&3G/(`/+?^"E6GMJ'PB@N$"%[#Q]IMVPW'
M*Q7OA:3<%X^9F^S97'7Z<5^%$;.JAH\$8;/)/S,01CGD#//7&,8SFOWP_P""
M@ERL7P.U*YG1C"VN>!V78%=Q)J'AG6(HG.XKM42(%)`)P"<''/X*Z?:O<NH7
M&T'E0HW=-XR>G][`Z94]LD@%\+L=61]_G0QL2N<*[+GRR/X=N/F/'!Y`KU7P
MJ\-YJNCQR3*B16DA<EQU"RD#!&-YX&"0`!G/0US^C6MA/)'9R1Q-(S;U:5SM
M)2-P8AY94IO)R"QVY`S@9%=MX?T*&WU.VN8@`8IMD\(?Y=K)E&1Q\V<\$G@<
M<X-`'H'AQH;=[5U:1PVCD!@A5$474B9+%0@R20"2PWL0"#7.OK"33Q+'&\RV
MVJS7(.TY$>%3`X`W97<6'S'`Z`FK7EW(M]-M(WDV7EB(6\MP2(Q=LY563[N2
MN,$@C.3GK6IIVF0V%Y)%;QHLL,#R&)TWC/EEW)$N3LVJ"S<#/3.,T`=)H6L0
M_P!J:G=I:SV\=[9VJ*"KL?.BM/)F<[2WR/*TD@)8A4/..@]C\(6DT5II?2=I
MDU1EV[W+$6Z\-$H^4HK$,0W().W@5P_A6TGOK:XG"QAX650B0(I42PQR$E6(
MP/FP".,'.2.:^L?@?X3U&XU'2-3GTPW-E-8^*XK6-&BS)=QZ*'<(C%5`B$JL
M7!`S@*=PQ0!]#:%X(LM)N+*3[#:RZ?K?PEUN[L9)F/VAK[^R(4OMBR*,'SF8
M(P0%4<%21FO`+7P[J"3^()SIFKVUM:R6LH-U"TEL+2*&./$$I$:LC3S$E55L
M9))VAFK?\3?&OQ7:ZEINDZ"UHFC>%]-LM/CN!$XN+N7[/;MJ5M)(69Q:^<@@
MD6-T23RLD<FO:?!O[4.F7B0Z9XKT%;994\J8VT:ZA9/&RG+R6TW[V-"H(8$R
M#E2!V(!^??CZ*6#79@\$A$5O;JKA@J!'C\T<CY@3YG3/''.,5P4L\TYCCD>0
MQAOE5Y79%#?W5)(!)YSGD``]<U^AOQG^"L?C/5-.\9?#G3;B?P_K>@:GJ-\E
MO:N(+>^TVWD:VA@@E"R>5J.P)%&BDI*&,9*[5/YV7MI>V-U-:WEO+;7$,C1R
MV\H:.2&1259'1L,&#'[I`8=",D"@#5MWC8,"K'(`C(W8X7H,'Y><YR/S'-=A
M:M!_9H,CJ)?/3;&3RQ3(8E2"<#&#D<G(ZXQP]C+<+G'"+\@8*20YS@';CD]0
M#S^==5;V,[^3)+)'`9T$B1NQW`'[NXX.T'^$]UZ\F@#L]+F:7:5D@C(X`"9X
MR>,MSD9.">375K"QVM+=N1@$KE4&,C(PHSP,<>V/2N#M+%HF\MY7CD"ABI``
MVM@HR,&(D4C!)&/<9K3/GLPC%P[XQM7>1_%@[?;UY```QD'@`[3=9J,A@#D`
M.S[SG.-Q4G..YP!CCIQ5V*\V_*JB0*<"1%.&`/!R>?3KR#WX-<O;0"$;I&+2
M'`RW(Y!`"@\'J.2"/RS6W;EP,[VR`<J5`5@""PX)QTR#D`CD]L`'H_AF[0'=
M/#)):P31R3")SYGE,V70*5.XD*<<C;G=TZ?=4OB?P0_AO1XX4L+2U>"W%C#]
MKACU"SDR`XEC6-WW<,9'=B&/S$Y-?"?A31VNM6T&*XG,&G:K?1Q3LC.`J+*H
ME5PI#89#\I&!R3D$5V>NO!IGB+4-/MEVP6.H2K;A6\PQQ+-F-<L26(3:`6R<
M]>M`'W?I/B:RC=K*:987A2&2'S'9_M=I-_J[K>\46TEV*EMNT\9)7!'4W]A8
M:W9O;74:S0R#(.!OC8CAT/\`"ZY['!Z'(KY=&H2:08;K6[67S+_2;2V@@DF"
M2R6<@$IN=BLQ5#@"/=M(.6V]*[_PO\0-/LHQ;2S7#V\8Q#Y["22-<\1&0X+H
MO(0L69#CYBI(H`DN[/5_!.HK)%(TMC*W[JXY*.N<B*<`821<X##GOR*]5T37
MK768`\9"3J!YL)(R#ZCU!Z\?XXRO^$F\+ZW&+&6ZCD2Y'EF&>)US(Q4($;:0
M)`Q^4@C!SSTSQ>J:)J'A6\6]L7E?3BW[N4$E[<YSY4P&,IGH3U`'(-`'I.M:
M!::Q$=ZB.Z4?NKA0`P(Z!_52>_4#/7I7DEWI5SI]Q)!+'LF0C*'[LH&3YD3#
MC<?[O(;CH37JGA[7X=6A1)&6.Z4#<A(PXX&]>>03Z'/4<8YUM2TJWU.!X9E`
M=<F&91\\;]1@]2,XW*2?SH`\=TZ[EMIDFAD*LC9!!(.5Q\I7^('HRL.GX$>N
M:7K,.HQ#("7"C$D.?O<@;X\_>7U'522".Y\MO=+N=.G,4Z;7/S(Y_P!7,O`&
M&'`8C`#<>XY.'V5Q)"ZR(6#H2$P<-&_0'OC'?JK#CD=`#U.\TN*Y(GB"K.$Q
MN'\0X.#CKWQGH:\VN+>2"YF212KB0CG/<]N/Q!'//2O1-'U1;N-89=J72IEE
MSA9,'!>/KS_>0#CJ.*?JFDQ7Z%P%69<LK`8W;>@)'7/K_/B@#E9Q_H,''`\L
MG_OD_4>^>U2Z:O[QL#&4&,@YY8=_J>>OI1>1O%:)%(N'4HI'KCC.3[_T]#3M
M.!$ISQQ@?]]>WX]>,'B@#:AZ#_?/\ZMK_K!_NG^M5XEZ@^IY^A'3\:L)_K!G
M^[U]N>W^>GO@`&I9C`<>@0?^A446G_+3_@'_`+-10!_GE?M:F0?MI_MC-$K%
MO^&I/VA@5*@)M/Q9\6JS-D#*DJV3R#D'!SEO'?A]&LNO7Z%2)$>,$94`D$A0
MC%LJ6.X;@"-ORDFO;OVL3M_;7_;%/51^T_\`M`EU(RIC'Q7\5L3T'`D;:Q/!
M9L?-MY\<\`P^?KVHF,;7#H`S.459$=B^]1@G'S;%!R"6"@]0`=?XBBD.OZ*%
M"E)-3L(PTBJ5207D1*@*0S`.65^H9L%3LX'TSJ.8M"#ER!*A7Y&SY:DL$(]"
M,%@PP54$'D"OFW68MFN:$TD+,8]8L8V;_5PLK7,6P0,OSL,!69W57!Y*[FW5
M].ZC&)-#5%8%'C=R#D893(&5&^;(P5RIY4$@YR<@'J?[,4<G_"'_`!$3:+A#
M87:DF0H^(M7TDB5E&W>K!PRYW`*2>J\>F_`@QK^T3\/L%(S)J5[;L[E2(W-A
M=@#Y67EP?EQ\RDA2""0/./V:8(QX1\>A4(,=EJQ#EG90IN-)\M44"/.S+KG&
M0&R00@KM_@G((?V@OAV^614UN56P,@M):W*EQGYMS#C/*8Y.,<@'V7^UHFSX
MR^(71H_^/71Y'"@G@Z%IP4,F>N/G!YY..PQ]9_M$VR7_`.RY\#[R'<P1=&W@
M$QLYD\,1M@_+NP/+;@E1R<C@"OES]KJWC;XJZE,BXDFT;PS*Q9HV+./#NG%<
MXQN;&WYN#T`ZG/UG\:FFG_9$^#9VJHDC\/K)(OR&-T\.W"`%1\Q#+N)[C;EC
MNP:`&?$:U\W]BGX,7`<!H=15'.2"?WNLH%#!@,^8H&0,<'&#T\U_X**6HD^#
M?Q@NY8EE2X^#GP1OX<<EA;>(887(9ANCV_:<[B!QP!G+5Z3XG<7/[$?PW1")
M/LNNW$.T=6\O4=9!(7&?X\YSNR"1GD5RG[>$2WW[/WQ(D\L!IOV8_AIJ`(SR
M+3Q?H)/1MS%?,(7<ORY&3UH`_ECC('FL1\BN0N=K-\V"5+``EN!@G:0``0`*
M]!\,*LM_"KD*JP,I&W)X'.<$,K#`4<=<9P.1PMNH^QOGLQQG=N)QC=@[L,2`
M!D'D\YY%>@^%D`OHA(5`$#-\P`,C*&`!]=V3M))Y)R`.2`>O>`8]^HZHR,X5
M58`9VL%RN5YYR&'!VG)`/&,UZ5X!8KX@UK`8IOB>-)#ERQCD`VL%^9AD$'=T
M!)'IYMX!NK:WU/58;B\MK,_.=DS[58*0&0,W[O!R1DD-V7))->B>`M2L[;7]
M5,CS7$;LDHDM8);E4548<M;+,J,"1E6PW(XY:@#K[-E;QYI[!52()=[1D>9N
M*IN<\%SA][;6P.!T/7UGXBJLIA<1HJB2UW8!7<PD3$F,AF)!&XDJ`">,]?*[
M;4;-?&&GR1V]_<-NN50I8RQ,4,6=P^U>0@1"27`W,0V6`^4GTKXBZC!Y"3FQ
MU'?&(6\MK8JI6-LX:3>4`R#D*S*W&W<RX(!]Q^*"S_#3X=!UC8+X7O(XG@<;
MB(]=U,;9\Y"L&;!*#:5P<;B#7T1\,997_91NH@(I'M-;MF(56!7&KZI&S`G*
ML3YA&%.`,'`.:^2]0\3P7GPV\$)>:5J=H;31-02*62S9H;M3J]Y+NCDM7FP(
MV<QLK*F2@SQS7T?\&O%VG2_LP>+;"]L;[3Q::U;_`&>\DM+HV\X;7&8J\JHR
M0F,.T;;Q'\N%R7^4@'T%^S('N?A#\7K1G5BTVKM'$"S,JRZ!'N.1D`$Q#(&1
MP<BM'X2JD_[/WQ'MCAOLFN2S!0`PR(-,D10V"Q!()YRH(('.*Y+]DCQ%H]WX
M4^+&D#48(R\%Q.HFE6&+YM%O(G96D*@`;4'.-Q(VY/7I?@;);M\(/B[:P-O6
M.\5Q\PD0*VGPX;*LV[<8<@XZ<]N`#F/VZHSJ'[.6JWNWS52P^%>INI&Y%3;J
MUHSC'O*H9E(.2.<=?P5T]BDJ-$02Y*L"!@#H<@D`@'&.N1D\DXK^@/\`:I@&
MI_LU:ZC*'27X:>![P``[0;+Q!'`K`;<#:MQDX'&.O:OY_+3Y9U_V9<#A0`J@
MYP2"""`?8<X[Y`.JTLB"ZM9MQ5DN$()4$';.BGG<3C:QX/`([`XKW/3K:.#6
M76&5)4N+/SR[I@,X=,I@,0H().X9.0<@\5X%9R!`9.["9L'YOXXSD#HI(&,C
MG/MS7M>DZ@)M;T]MQC@-A,"5(*AF5'92XR"Y^7=D`@`#/0@`Z_3+,-#X;<E7
M29KU?E.?FCD/R@AB.A(*D8*@;@:Z73[%9->\0D@XAL)0KX'^K\AR`H;`&$7:
M!D<#'2L?0HR8_![$NB^?J!"R@@,K@%7`&"5(P0Z@D\$@#KWNGK'+>^*KK$6Y
M=.NMHR-H*PR("Z@#D`,,D=!SC&X`'?>#=-CAM=26%-I*:?(SE@P"R:7;/NY&
M=N..&YY(&#BOM?P2VG>$/#WPNU9Y9#:2Z)XSN[A-S1XNGTN'8RL-H9I'`B`)
M8$%<`FOGCX7>$6UC2/'=\6"R:5X=T"\A'FA"6-I;PS,X++E/*#@N05&%.>E>
MF737U_\`#_X9Z>L4(%E#K\,3)=6P><+*D#$H9@=ORJ`4R,\!NP`/)8(3?Q_:
MRFU9[F5G'L9W89(R3D\$D9YY&:L:#I)EN8I9%RESJUO;E5^^\6XR21JHPQ61
M%$>5X(.<YXK0L(I+:TTZT>)H[AKV6.:-L'RY(YY-P8@D'IR>0H!QP`:]J^&'
MA234M;\*%[>1;(Z];-)</"SVYEM[26\\@R!0F]_*P5!R`_``&"`2>-OVA?$/
MPZU*70[!;/3XK*4BWL)H$DEBM"4:W@\MLK`D<9"@@#`!.2>1\F?''Q[HWQ&\
M66_B/2M-M[&\FTFSAUV2UP+._P!7AW^;>0HJKC=$T0E+9+2HS;BI!KI/VN81
M:?&_Q(>626WTR88!V*\UA"[I@?+@G@=P2#P>#\UQL=X53G!&"2"`.!MXPHXP
M,\],@8S0!V=OIQB$`D?,<XADVC)R=I.XDCD@,V./3//->DP6<<MQ<,\B1)YN
MS>0I)B2&(6T"`C"(_)8J,O@BO-EO+F01CRF7)C2+@$!@JJ`O./KSG))P.<=P
MLFHI!:F416LS*L1<W`9ITC'R"2$"0AD!VB4'"\#<2!@`V[F)(XD902]NV\<Y
M7R,;67=SQDJ<'CG@U6MVW,TNW()`&1]Q,C)(')!(`!Z8/4\8B1V2.=;DA9)`
MX2.-B4,1B4`^8<,Q+``*3D_,QZX$MI'E%F<,L*J$`YP^."<=-N[/5>W)[T`:
M$%P'F60DC;(`J\X5<,,].&^7G&>O''3L[&:W9(V\N-9$;>SAP9)3RJQQH.<D
ML"Y=<+@]1UY2*]@`"):1-D<,058YSSD$<=N,CJ,\5VFB:8TUN;RVNK>*1=Q)
MG`S$Z8.4+9^8KRK8(`((P>@!Z#I\T5O'I6GLKB[A4W((8`1/+)\P!R"3Y>.Q
MP03[5MG1S=74E\T0;?*7+173M-(ZD%A^\4([#Y20C;A_"#6'X%TFUU:?5;_6
M=9CLOL.EW5S9F9LR7UXF!%9QDX):52VTCD`Y'3-=]-XFL7L;.RMH4#QS),US
M%,DBRQHYDB5+<(94O"I6"3H``QYZT`=#]GOKG3K>ZENGN(R@BBEN)HY)"L&U
M?);=\R^4F-B'@)\RBG6<;2.D<46]W8(I4G<[,0%"XSG<3\N!ELX[C&WX.M_[
M8\/ZUI"P[]?O+F&^TZ"0KY4$*.1)YS%E6)?+D.]VQA48=0!5:YT37/#]S:WY
M2"*>&=&M[G3[J.]LVG@8,H<(S!'W+PDB@,`0"<&@#UO1/#6H^%Y[+6=9L1<6
MWRL8U?S9-/D."DTT8`5B``=A)V^H<"O;89[/5;4$&.XM[A,E3ADD0Y!Z]<'(
M/\2GJ`:Y#PEXNM/$=JEC?/'_`&FUNIGADB$4=SN7,HCC)92R'(=,Y(^91V"W
M5A=^&9VOM,\R?2Y9-US8AB6M]QYDA)X`Y/(!!'#@@YH`R-6T"XT.;[=IWF-9
MAMQ"<R6Q/K@$F/KP01MSGTKL/#_B"._A$5PP2X4<,QP)!TR#TR,<@X/]-33[
M^VU.W66%EDCD&U@0.<@;T=#G:PSAD/(ZC(YKD]=\.RVA>]TH,(RQ>6W3[T9Y
M)>'T'JHSSSC`R`#M;ZPMM1MS#.@8$91_XD8CAE/KTSZUYO>Z-<V%PVX?(.(Y
M@/ED'4*Y'`/.,GD'@GFNDT#7UG5+2Z8B1`$21N"Q4`8;."'SU!Z\$<<5ULL4
M5Q&T<JAXW7!!]#W'H>X-`'E,,SQL'!975@1C@HV21C!&/]DC@@<<5W6CZI]I
M"PW!"W!!(/19>^1V#X'([D\>E<]J>C26C[T4M!DF.4<E!UV2``9]!D<=0:IP
ML4/<,".0<D8/!!!Z>X].E`'?:A8I>0E<`2*0RMZD<X/KGWKF[>"2WN7CD4@A
M1R1P?F'0]/R-:NFZEY@6*Y;Y\!4D;(#'H`W8,1GYNC?6M>:WCFP2,..C#K]#
MZCT]#0!DH2N0?NDG![`GL?\`)_"IT'SY]L?^A?\`UJ88VB8HXXP,=2#G&#^/
MO_A3T&&'^?7_`!H`U+3H_P!5_P#9O_K446G1_JO_`+-_C10!_GN_M6-(O[:G
M[8H"C8/VH/VA"RL@<,/^%K^+&!)9LX+88*`!TY&0!XS\/%2;Q#?1``AWC9A&
MP4L-S@OC#,`&R2?O$'&<`U[1^U?$P_;0_;"VG!;]I_\`:%8891N#_%GQ>S*`
MP&25W9"_-C(!X!/COP],1\0:B!&P$K0`%3M5`IY+,5W!&!)`'7/.0#@`[SQ#
M&IUO2O*#%1K&GQ`#<KLZ741)!3Y,Y`&22,+PP;&/H_5(47PU&40Q[$G5S)\J
MY#=FP7R-XW9X!4?,>0/G?6TE?5]'B58U1-5L6:6/@,GVI,D[B-S-N/F88#?A
ML`X4?1FMFYA\/`L^Z.8/&@CR7$R$%L@#*!02"751D\]Z`/7_`-EQ);KP[\18
MV61A%HNMRPM*P"M-OTID(#88_NB>!C&[)Z+GIO@[#CX^?#?:@8R>)$!41[I`
M&AND*M&LH)'(+8(("!@"017*?LM+,^E?$+[0MP)$T+79K<P\*&BCTV3YFD9B
M1)%S@$G'R@9`SUOPENI!\?OARX4Q2MXNLXBRA6"&0R(W7"C.YQENC'/2@#[9
M_:G%R?B5=I)&$8Z9H!\S`"K%_8-AL`R6;#*J$_=)R1@8-?77Q43S_P!C+X17
ML8D,<3^&RX+[LM)I-_`3M.67E.!QPPSD#-?,'[7$:1?$6&=%W)<>%O"B@2\2
MM*=(MHW5A&PQNZ@XP<\<<5]6^-(8YOV&_`,\2,S6DOA=FPV`I_XFEN[NQR2"
M&QA=S`GEL`T`5[L-/^PQX4EV1A[;Q'>*LF$!5&UG4E9R>"KY<@`D<@9P#7%?
MMC1OJ7[//B5(B7-S^R%H%ZS8!5DT_P`4^%R=Q.<MG.,$*/O9((!]`T,B^_84
MVOMD.G^(]0&TX.<:V6.,$$$F?(;`*Y.`2.>._:29;S]GL-(#MOOV+=:CR"P+
MRZ9K?AV8XVL,K&L3$E@1CG&0:`/Y7+?>+*9QRJR,.54-G<GR'&[DCD`YP.3G
M!SVGA^`37MMY[221,FY47<C;L,`KE&!9`2,C<H*`D#/!Y%$SI<S9^[+EN20.
M02N1CAAE<@@@X)[UV_A2.*6^A#;F7:H^7+<D+NV`8W@*Q``X&.0.<`'L'P^L
MX?[7U#;'$T80$I*['>N\!`&8DLP`X+XVYW8)KV#P;!')XCU58Q$@18L1*%"+
M(R..FX*S'CC#`@\D`"O./AO`/[5U1S&ZK&4"LYP2HVDKABP+ID,Q!!Y'X^G>
M$%7_`(2C5]J,QCEA4LP!'ELLC@!LDEFW.R\D'@^H`!V?V65O%FC*55G,DY9P
M`,`0-O\`E"C'8A3@9&>>*]#^(:,NCNKQ,LC;%'RY8*&7!.PG@Y#+C&"0>@R.
M*96?QAI@1MI9;E&8!QP8Q\S9(7.0VP(03D[AWKT'Q^7723'*\>]1D1ALR;56
M("08&W``4%@1TQ[T`?5U]:$_#GP-%+%Y;0:#?QHI8AW`U.Y<F0EF!;<20P!R
M`!7T'\%;.5_V9?%D3(CQMKRA"#AC&NL*65OX7(9B>5X#`8!!%>"7<GVGX9^!
MGN.2-(U+G<JN%&H2GYL,7##(P2"0.02O-?2OP'07'[-7B]&"^3'KEP8R&=9-
MRZOIK1CH02WG'YE(&,9'(H`[C]F&PLF\*_&R*:TLYP=,#%)H(FW_`/$GU)5!
M#*Q`!`*D@LK?,-O%;7P/T.$?#/XT0V"'3;LQ0XEM!'N,<>GS.J@&.3Y6*.&7
M;@Y]0,0?LN,%TCXS6TB+(?[(28AB2!ML-70@G&"..<@'`P,\UT/P%F+>#_C1
M%AD<6-O.K!EP5:TU--RD\*/EZ`Y'?YJ`."^.FIW[?LYW&G30O>QM\$]-NWU2
M29(F\Q/&VGPF`6R0#S!#L"JRN&1&RPY(/X.QLOFQ&U,KED#2(%&8IE+!HA@$
ME6X*,1D[LM\H-?OW\9;4W7[-UXK;@C?!C68&9.6QIWCK1965`<\E&(&,XW9.
M,5^&L-BT6S_46,:G?LCVRW?'`+OT3H25&",D?PT`5M*T?5;QHH/(6`-N)EF9
M(U$<ASDDG#$`9`'+=LGFO3+#P_>JP,^JVD/DHL4/E(9MZ'"OYJ@\MMP`G!8`
M$@D9%32+2R6YLA)%)<R3CY3-,Q7<PRA$9PH&"&&0<+@9KUNR:VM[F'3OLT!E
MD7S5,:C:61E!7*\?*&+'KP&!P30`S3-(,L.F>;J]Q<#2;;R;7R[;8B@[R,G&
M7*A\#<&"A0F#S74:7HS6R76Z_P!0F-Z72[D2!%#K("K`$QD*"I(R",[3CJ*T
M5NH+&\@LC!$#<?*I13P^TOD]`PPI'R]^@-=;=S_V8+>1HH98G,>1Y>W/F.!D
M`$89-R^N>&(/6@#V'P%\3[?PI8SV,7AFQNGN]*&CZE>S?;5N-2LVRH2X5;@P
M%EB(53'!&Z!0P(;D^GV7C#X0ZQ:Z?;:QX/\`$-A'IJN+"72M88"T,TPGG5(K
MJ.2*1)GW$A\CG![&O!Y+40VBWJQQNNP@C#9P#G`*X4YSP<>H.1766<4;Z?#>
MVUK\DENDK*9,';*N>?7"Y4=.N>M`'M/A_2/@?<S1I%XT\4Z0(9VE@@U/3;69
M5,KLQ62:V8[V!<KD(O'7C)K[9\&-X2_L/2-'\+ZUI&I0V$VF2*(9(8[F9K:-
MH[JZDA8B3[3-&S,P^=LY3=CBOS;AM[00VUT$S%-&CER%;9CY2"&ZX8$$@Y[@
M'@5T5E9FRNEDLYY[2YB`F22TE>*1,C<K@`@9&0P"D<'&030!SO[:.B'3OBJ]
M^[SO_;&GV,ZQF!U@1((%MD6*X95620O"QD5=P3*`,<D#Y"MHI-Y0(2QP5VDL
M_)!/`!S\I(R,`=ASBOLGXZ?$N;7OAU:^%O%,4>K:[9ZK9W7AO6V`%_;62"5=
M1M[F48D>)U,2@.3^\"<L0#7R;H&XZE:&0`(\I4(22",@;`5(*Y/RC.>H8\F@
M#H],T74+N".U9S%$URL@,N4*/Y13?D@Y4H#E1D9]*Z^+PQ>V&Z[A*7KQQR(L
M<GS*CLFU9D#,?,,08NG!4.JDY(.;SPJD$EORKQS(P`;+K\ZIL8X!`(<'()Q@
MY]NRA6<:?')A/,@8#.21B)BN``""Q12#GC+8ZCD`Y/3[6\U;[+"[P_ZAVW!,
M3(%`C93EL$Y!8C;A>3W(JQ=M+:O;6&V&8PLJA(U)\P(P7;(H!SO.=X!.X'`/
M&:TK.,P:W?K$`6DE,,'FX1$-\HE4`IDMR3P0#VX)XW/#.G1M?WUW.&D-JQ@0
M.FT))&`'VABVX9.T$D'`YYS0!S]IH]W<R92!H0\FY%=6`&XL`@9ASC<0.1G`
M)SC%>P_#KP3JFH^(]/TWRD)O)!`&+X"[\[G)`8855/S;>%Z9Q@Q@-++!;1#`
MD*L6"8P&)VJ#G@$!F..H4CC)%>AZ*EU'J%O%IM[%I]XI4Q7,MW]C_>L#MC6Y
MWIL+#.<$9!QP#0!BZIHMIX>O=5T[5W@@O+:[F:UL;EY5&Y28W962(AHY3@QL
M2B@KRH.2>T\+WMI%;1:;K&@:;>:28$O3J^DPLE_IJW@.W?>)%Y;2*5&89\KV
M!^8FN#\4^'/$-SXJFMM4MS"\<,,OVB2X2XC:"8&99VGCDD$DDQ+-U+#^(#''
ML7A3Q'IOAR*.V31+6\MX5B24RL9928T".YEE5H_GP65,[4S@<4`=KX/T:UTJ
M+7]1LK]-3TB]ALXXKV)U>]MK`W\"WB7EO'N>V(M]RL0"C+N;.<BNPADTS4]+
MEN[)Q/<QWDT,UO!$B16Z07#FT&SRT0(42W:(DNS%B0WS,*P;OQ-X9735\3>%
M)(=*OH+F*WU+3!L2WO(IPP>.XMD/E2C(Y95(8,>AP:KMXRT#PWIZW6G0W%Q+
MKD+WL-@)HVL=/NO,*3J8POG_`"2+NA#L5\LIM(P:`,:^G-CK=XD+&)H+N7RI
M$;8\3!\@`C`!4^AZ_2O:?"7CB'45CT[5Y(X[HJ(X;EB!%=G&`DN?E28CC)PL
MA."`V<_+4FL2W,\MQ*<RSR-(Y)1`7=B6)^9CR2<C&1P1UK?L]7MT5?,EC#9_
M@9F((Z#.`0>,Y]1P>Q`/J:[TBXTZ=M0T;Y58A[JPYV2@8)>(?PL!D\8(SQD9
MK=L-5@OHEVD"0X5HWQN5\X*NO!!SG!`PW/0@BO)/!OQ(M#Y>FZM,Q1%Q!?%6
M8H%'$<^`2Z\81P"PX!!&*NZEXL\/'4;:YTQYGFR3=,D9BMI"JD@E6(+,6P3\
MH!'(YH`[G5?#L<K-=V"B.X!+/$"%27OE>ROZ=C4.CZO)&S6U[N7#[`SC!C9?
MEVOGUP/F`P<CKG-16'C72YHT$S2QL0.2H(!QGJ",KZ$\]CD@U;DBL]?@DNM.
M8K<1-L\UDV),1SL;LPQCYARN<'K0!T[+'/&58!XW&"#R"/\`/0]JY+4=):V8
MRP`M!DGU:('J.^5/UQ2Z=J,]BWV6[5@JMM*M]Z,YX(/\4>.F.1Q]*ZQ'CF0,
MI5T<=L$$'UH`X*,E<9&"/J01TW#G],@@]<9%=/87YPL4Y_V4D/Z!O4=@WX&H
M;[3`N98%)0'<R#JF3RR?[//3M]*S`"IP1CW]3D\=>"/3&><]*`.P>)95P?O=
MCZ#V]?Y8S5!HFB?!!QV/M@U#8W93;'(<H`"K'DJ?0]RO_H/TK;95E7!QG@Y!
MZ^X(ZC'3^?>@"&UZ/]1_6BI88S'O'4':0?SS^5%`'^>W^U?"7_;1_;##':#^
MT_\`M";?O%21\5?%TF1M7.<$>8H8GDG"DJ!Y3\/?FU?4MT+/NE@*.NS,9S)N
M.W(=3LW*%/`!`.XA=OK_`.U>D8_;,_:^<K*,?M1?M`2;%.V-F'Q;\7;I'VL"
MRX!')`&3QU%>2?#A2FNZD^5<,45?G4%7)<E@#D?*%PK``*SG(;&X@'<ZPBIJ
MVCQK&\*KK-I*%9^3FXC+*,AR<L-Z[@`",D<<_26M0.WAQ'@$C.#,F[:=CJP^
M]O&%RKG[QQTP1@\_.>O2!M3TE!!A_P"UK%3+YHF(/VB(D/DD!\D<''RJ<D`8
MKZ2U61(_#Z*JMN0R;GWAPRAAA<JV?[@(!'.,+U-`'I'[*4<SZ=X_6.4Q(^A:
M^D^''S;;2P,BKO(=V)&TJN[&"1N4$UT?PY9X_CA\/&$C.\7C#3`7&2RA[CE5
MC521UVYW;@<D9(KF/V7M0@A3QM#N>-9]%U\1`*P`G>QMBJARN0R$!W8GID!L
M')ZWP,UW;?&3P!);NHF3QAI+(^[*NS7:*Y`+*H5/G+`M@@'IC!`/OC]JRWFB
M\>Z>[\&[\)>&)A)(6:/<U@D?`?YAA859@RY#,PZG-?5VL.9?V$_#3EF>.&/0
M3\N=Y":G?H5"D$NG)/('`(/`R/FG]KN??XM\+7=P@2:\\`^&7="`2YVWD#2`
M#<.#".C$<$YP>?I&X!'[".A;6$H$VCH>"&C6/6]0CV-N#*0,!<J%&.@P,4`6
MO`I\S]AOQ$I!D\CQ)?!,X!4'5;`G!+;<@2=L`?>'?/._&?;<?`+PW;!<_:/V
M/_BLG(R/+M([.9AG!&=T.<C.<>G)Z'X=9E_8?\:Q@%!'X@U,D\$`_;=+<(,$
M\,2`P)')P,#`K,\?1?;?@+\/1-'LGN?V7OCG9*XYS#;:5/*BL&(`#>4C'T)'
M/3(!_*'%&HTZZ)8JZS%2G5&'F(%!X^[MPP/]X#CD`^B>#8`VH0KR46.0%@NY
MBVUB2NSE2N>H`P!U`KA8P%TV[8NS!;HY!W$DK*@"X!`!VY([\?=R.?1/!:[[
MV)-[[F0<@@,=VYR"3D#()!!Y//89H`]M^'.!/JHW$2-.6.55<*$VJ7P0<.N-
MIW###)8[LCT7P-^Y\0:PQFV/YUL"&3)=51V4E"6.!@*26VCT"FN)^'T"PWVK
M1[5#>:X.]TW\E2,G=EAUY(`!9<'`KT7P=#&/$&KH6`(EA)(QAAL922_);:,%
MB1ACE>0,T`=DI#>+](<,7+B[DW@`<B%ACEMF2<J@`.[`/'4=SX_B5M.C8DA3
M"/G&<#.P;2N[.3GD8PV`5(&37(1E1XPT=(U"QJL\1=R`H_T=PRXVL`&/W%7`
M&?\`@0[GQ_`6LF,3!D`!4/EB!L4';@X&5"CDX/'M0!]<:DIB^'OA)3;B.(:5
M?A)`A4S+).)`=@)*$%F7``&%7K7TK^SE.G_#./Q"CE1=B:W>,AV[I'=;G1I!
MN52"$5FP#UR#@8-?-UZI'PU\%Y\S<VF7>UI`RA0LT;'RRY;<OS(=W(8Y(;'%
M?1G[-L<LG[/_`,3F,A9(M7O'$?RA!L.ALX(QN#-D$G?\Q!)QF@#TS]ELO,WQ
M;M4V![C01)D*6&!#J<2C/*X9GS@@L1T/6M?]G_\`?Z/\9;8?+N\/6[J"2JG:
MFJ*YS@84L>.I.3Z$5C_LF-MU?XFJ3Y@E\/IPN`"5DO1C!`.,.0#G/').:Z7X
M!0';\6H%;Y7\,L2,;\;6OQM4'@D;BH!(P#QP:`,_XBK%+^SA*TH)$?PO^(L;
M?>"%;77=*N#D*<_*8]R=1\N37X#/>L\USY3L4,A0NO20;F(8\$!CG:`&'3@8
MXK^@CQ5;_:_V>&MXPSB;P)\8+,(1DMY=J;M0=IXPT&0`1T!8#`K^>JWC*&=9
M,B1)PC(1R2IP<\?+M)QG.!DXR`:`.\TTRS:MI:^8YVL`%R,D#`4``G)*C@X)
M()`^[7KUIN_X233U*D9A<''RY)\O(/0#:001QSR>,5Y'IP7^T]/*+\PW#Y5)
M.5&4?DX'.#PW!W#.>*]=LYG_`.$CTLL&+-`8P@P<L0N=VX]"1CCKGUZ@'H=W
M;AM>TC?G)F!7!](G!`Y'RM@<'Y3GW!KM/$ZE;2U(!.?**8(RK^8G0G)('<X.
M",Y)KD=0!?6='8`L5G3:#M`5F1@5R%ZL#DG/WCQR*[_Q/"CZ;999!L1&`8Y#
M@,"1C'#<8)/'08%`'H-_&?\`A'W<G!>/:`H8G'E;N,'`R.>N2W4BNJT.%CX-
MM9!R1IT1X8<ML.02<G.>?3K^&+?*LOAT$81O*!4*!P#$NT$G`P!@$]<@G)KV
MF#PO;V7PG\(ZE;(2]]II>ZG4.=]PZJR0L<%`L2;MH')&2Q.2:`'-X+?3?A_X
M2U:6XCG&NZ=<7`C567[.L5RT85F(`9V4C.T$+CG)->XZA\./#X\5WFEVT5Q'
M:?\`"N)-7LE2X8RG4UL+>82M(069,[R8QA23@#`%4)].BN/@;X'NY5+SZ?'+
M9Q!64JL4LUTTF[<-V_=$H'(``Y!Y->Z&&&;Q#X4F*J'OOA[>VS,<!G0Z>'4/
M\O.`"`<XZ<&@#\@OCE8W>E?$/7-"N)S<1Z7)#!9DKY:B":VM[A25P,N3*0S8
MP2#C@`5P&C-%')82>6W[N[3S'<HP&6&T*N2Q)(+`D;3@$]Z]D_:D3R?C%XB.
MUAYD.C2$DDYWZ18[B/48!('<CWKPV',-Q((298([@/%.%8+(J.")#UV[AD[2
MW''>@#VN"0/<:RF1D!&4LIW@[E^7:1@YP2Q[<#`ZUW%J!'IFH@EB8YKDG<"I
MC(&<C)`'!Z=,\>E>9:5=)=SZQ,)`Q-O%M8;NN8@_`QG!!"CA2>,8KM[G4;>T
ML=6BDD.6N2B%E8/+(\4>T;2<G.XD8XP:`-"Q:4ZY=)#%;SI]FM+X22Q22LLD
M<.U&RK`J.`2#UQE0>AZ;P\TDNFW%W+L+WEY*\C(H"EGF<<`\JI"J!R<`<G.<
M\-HUY=R73WD5G<2PM:0VS*F%)\O)9023N!+##$'OTKN?#T-]'8V=E/9RQ%;@
M.[-&?*,;L2"7&2#EB#P,8!SWH`[[2;=9;X9_YZX]L00QY&!W!<YZ#)K5E:!+
MO=,LOEM#>R^:L;RF(Q/#`C,%#,#A9-AV[5(YP,FI_#EDUW=CRU#A9-0N)&(8
M".))8X]TIPP16("AB"!GOGCO]1\&2RZ?ILUCI.H7,M]IUO.TMFPNC&L^IW#2
MG8$4K&(47('W@=QSF@#BH83;6:0AG=VRTK2,2Y+'."S`D9W!"`?E7(`P..WT
M3Q#X.T^UET_4=#CUJ2Y3RKBZN)VBDC:4$'[%&H*1B,D%'+%VV[F/.*Y_7/,T
M"VN;ETE@F%LT<<5[;-&RR72M"I52Q7>B.TBLV`K(,@?+7CEI>M"\O+,9%V@L
MQQEL')YSCU`SP/3.`#JY3!#<7,-@7\K[1(MM))DD+N.`KJ0K%5P#\N<[BIJ=
MH[E9@EQ*^=JG<SMT[#DG;D'..F<$BL2VE($>94Q&1(@P>6'\+'/(ZXXR<<GF
MMF2^:[=7*+'L14``(#8YR2>"3SN)/3`XP*`-ZSMH6P7E!YZ!B3VS@=,\YQ73
MVD=JG*H7]<(1CCL3QSW_`$S7-:==F/\`Y9,1@'Y8SVQGG`ZXYX.1C';&\E^Q
MV^7"<-E<DC/'...1[CT''4T`;43A)%,:;.0PR<=NA&?Q((P3@YK4AD;>&/(W
M`\$X.?I[=>?Z8P8Y'.WS#C.!M49((QR"><XSP/4].*TX"..I/H>O<9^F.O0]
M\F@#U;PUHMUKK.(1%#%`@,DK.VQ=W"J,'.YB.G&!DL1Q7LVCG[';K8F!(?LW
MR-L8%78\ET.26+8)<$D@]\<#P'0GU*&VN=0LMZV=KY:W"&0F(O*&6-FB^[(=
MV221\IZ#T[31=4O)Q%OF57-U$WF!54*"2LA.!R`F002!ZYS0!ZM?Z=#?Q9R$
MF49BE'7/!`8CJIQCG./3BL&TN+K3)S;W*'9GL<@CCYX^W?)&?ITR=:PNIAN2
M5HYD#'9-&R_,N>-R9R&(QR!ANY!.:T+FV@O(]C@$]4<?>4^H/7ZC],T`3Q2)
M*BR(0RL/K]01^A!'J#T(K.N[$-NEB`!/+1XX/7)7T/MGW[<9L9N=-GV/EHR3
MM;HLB^H[!\``C/7Z9'0PS),@=#Q^H/H?>@#GT&WKGCC)XQTX/IVY_P`C3LYR
MGRMDJ2<>J\'D<]_?^=6+FR$BF2/ASR5_A;)'0=,^GO\`E6<JE>",=!@]1C/7
MV/8_0<]:`.B!#`$'(/((HJI9MN5QZ;?S(.>.W3M10!_GQ_M9WUM!^VA^U_N<
MK)'^T[^T&9$4?+Y9^+'BY<[PI.6(+E`>J$8^48\@^'VH2IK6H"W@ENH)V@4^
M0F0HS)M$KLRJJG.-O\90]#M->W?M7P@_MF?M>[@L2O\`M._M`!I&SN"M\5O%
MVXMM(9=RJ&B#$A\KM&&^7R?X<JL?B.Z,;$J[H&1ACY"9.=H^Z>F2I)R1MQP*
M`-[7KB2;5-)`M+M+DZE81-%)&\2!OM,.WYWW!LG<-ZG:H/<#:/H76KG7!X?A
M@@L)9$$4I:0%&3`*C:"[*I?;U'^K5<G'S<>8>(9=^I:49$59#J=BD1PJRR*)
MU+?*%`&!\RL6X(9C\V"?I00,?#5I`8SYA\U9&#AR0NX@DY4X`Q@C=EL#`H`=
M^RLVO-=>,YH-.5WA\.>*R]G)<1;\+I4*EXXS&Z2,F=P"L"?+8+(H!STO@N]U
M>Z^,/@2Q_LRZ@N'\6Z,B?:I8;*`2MJ$8!-VTOE0H=W,A`C5CL88YK8_9<BF_
MX2'QDT<11?[!\5Q.TAV`C^R!O)#H68DG)C!R[Y(VJM=-I,!7XN^"C:Q22W$W
MBG1%1-R*SR/>0Y$38(&UA\K-QN*[@>E`'V?^V1X@M;/Q+X2MKN&ZM;JT\!>'
MH9%GMYI%#+<ZCO6WN8HVMKJ';SYT,CQGUW$BOJK0+^2__8(AEN%6VMX/[,DM
MI[N"6V6YMQXHN=DMNSA5N`58_.N5"`\;L9\0_:_TZW?5/``9O-6[\!::S,[)
M+(RVU_J48$A(.YEV_P`/RMQ@]37U!X*LK>?]A&[M[Z..[M$\,2M&EQ"LJ1O'
MXEF*JJ,I$>TJ%4CA20=V`<@%+X)NFK?L9_%"SCEC(M]3U]U:-ER56#2;DLR@
M@C#*6'K@8YS@\2VBWWP4^$$"@3I+\#?C_IK_`#$!Y!X8U5F`:/*YW1`A>N,C
M'8V/V>-$@O\`]DOXI:=91/9_:+[Q1B33Q%!<E1I-E((I&:%W$2!=Y1\C:"JE
M2"1ST0US1O@5\"98HKG78U\*_';3[L336D%Q`+[PEXF$26Z^5&D]NI@:4AI6
MF(78JDE:`/Y5%C5=-OR2Q:+4&*HIV@,'0G(P`-HZ=-IQDGDCT+P/L.IVSEER
M0%?:"2,KTR,9(&%.2!EMPSR#P2AVTW6"<A?[3#.CG:0QN$!"X;:PP.$/3&X`
M@D5Z/\/T0ZDA=5*PQ;PK?>+$85L@X/(XP<$#.,`&@#V_P.$BO];**S-&_E@@
MCG:@9NY(4,6P<C*KDG^&O1?!1)\2:AN8(KR0D':#M.)%`'<CGYFW`[AGUKSK
MP/$8+K5Y)5)D>21=V74X"C#*N>2V"I7^,,IP"#7IG@-`WB+4(W#!E%NRG@_+
MLD');+8!Y*;C@\`$C-`'91+N\8:2@4*C37/WA\[DVTA7[Q/.W$F-P/&1D')[
M_P`=PR16$B.=NV'/F8W*Q*#`0X!#,1]W!`'/3!K@V`'BW2'#!\SW`+[@`7^S
MRHI8JI`^8X"GYL$9.*]'^(",VGF1FDD$EKD*,(%*Q@$'D,%##((/I\V&Q0!]
M0DR2_"[P5<3M]RUOD);Y2T9%H0`@&1M)QQD>W3/TK^S$T<GP*^*]L6)`O-1,
MNTQA26@T5EQQN'(8`L`!P/6OG'[,$^%?@DLR@O#?-(F"S$O!82#Y@=H0*X*K
MC(STSFOHC]E]A#\&/BX3$VUK^Z0.KL2S?8],."G"X4\EB>3P0,`$`]4_93=4
M\6^/;<J427PR&)RI"E;B4-N(`92H<[<'D,?J.K^`,:Q:U\2K?@J_A:X);)+/
MMN)MK,#R"PDYX.3QD\&N)_95E#>-/',**0__``BTQ50P()6\"@-SG:-W<=<$
M8XSW7[/X#^+/'D014>Y\,7O0`X`NHU^?!R3EADC/'3&>0"T4+_`VWA5#)(=)
M^,%JN]R,%_#&HRXS@X0K&I"'`!`/`SG^=R=0^H7\J[B/MLH(;&=A<YR."IQD
MC`/7J1Q7]&EE&6^#WD2`/)'>?$JV!R5&Z;P=JIY(!SN`V^K``D=<_P`Z3#%_
MJ*G>N+^7[H7J9"&.``%P,$*F.!T'!H`[71XPFKZ<%0!>^\KAB4(!);C^[G=P
MIW<G->OV\87Q)I!8*RM'(=I8.2RKE6SW[$Y'49/4"O+],A*:SI@(D;</E8[@
MVTKQT`+!AC*XQC'(R"/5XX2OBC265"I"3$D8P4,8PP#?(N&!X4!@>2#G-`';
M:C&\>LZ,3N027<6=N,G".RD`=23VP>O09X]&\5QJ=+MV)4LD:\8^=B0"<$#)
M4@!BH(&3GKFN'U/>=6T5E&X+>1,"5&TKN.%#+G!_B+$9RQY`KT7Q6A_LBU+9
M+"%<OA=Q)``([KC)P`>>,X-`'J4MN[^%;1PNP36P82$;59#$`2H/&`054]0P
MY).*^G[("3]GSPF&4*$:'+!?E^2TN$&2&;DE>3M&2N?KX/>0JWP^\)2_*6DT
MRX5PQ\P,@N9L<JWRG!'WN0./NX%>_:$';]GW0L!L0WJ)N;D*C)?*`",C`;(^
M8Y!&&Q0!VMHOF_`;PZP524NW4*!\QVSZBI7USZ]R">_`]8LD,E[\-)V`+R^%
M[JW+9&3NT=&"C/)!/)&1VR#S7E>AH9_@+:'/F+!J<S$JP5D5;VZ7)XYP9`=H
M['@9%>JZ<5,?PCG4@J]B\(D;!.7T@+C(."6QC\/7-`'YA?M3VBM\7M1E^4O+
MH_A^78PX+'2K92>P897!Z\C)''/EOAYDDB%LL4(D"&5<QJ?-7`+!3\V`!CJ!
M@^]>P?M:Q,GQ521OE,_AC1V7WV0O"1Z@*8\#@G(X&:^?_#<UT-3TY5"MR8SD
MJFY"9!@L2,$@$9YY_*@#T:RT^UACO+RUVKYT,T4T)W`)(A5A@#;@C&>1M(Z"
MM9++[9J<LMRHDBC"L4QN4-]G0*<'.&*J!N`X'0Y&:S1*BC5H]KM$HCDVX.8V
M;Y2I)XP2#R`">O0&N]L+3S;N](PI6RMF([*3`<D@XR<CKCJ,_0`J6%Q<1P&2
MW`0>>8U7&4"I&[G:,@\A,'ICMZUZCIRW[?V<LDHV32('."<JZY..I[\`YZ]#
M7"Z7`'L854C'VRX7YB"-ZVERV?4-UQUQZY&1[)X>M8KC4/"4,P#Q7%[8"0A@
M%9``QCR`.6P1DCH3CN*`/2]/8^%?!L.N:.YCUG5;G6M)%P0LGD>:\!B+(VY"
MT(ADE!*G+.%/'3CM%\=>)_#EVMP=7OKYS)&LJ7;>9'(%("Q)'PJ1CLB`8SD\
MYK=UO46F-EHD>Y+6SUK7;C8`!AY))&17`P,HH`'`ZX!XKD%L4N+^S4Y*-,XS
MP`QR`,\$D@X(^4@=.AH`^D?[7T?XL>']6T74-.BBU!+:.6VNWC9A:7A`\MA(
MJ^8H8[OW>6)7/R]Q\X?$+X9ZAX)33+O:EQIM["L(O(7=HGO%),JE7PT1VE3&
MK##!3@G!KNG9O#/@>37%EDC>?67LG2([)9MT+.N6&,[0-H&<`8R.Q\]U+XBW
MVM>';;PW,S26AU)=0D:Y`8P&(NL<5L^XL%9')ES@$@`#@Y`./L8!NA,D;A4+
MO*06PZJ-P7OP<;0>@R/:NMM(V<;MNX;07B*`1+D!A&A4!@=I&"!C<<$=#60M
MY92W"KDK$4>)BHR,DY5@.I`;:".XSC-:-I<^6?O,R#=D@#;@`<@CY@6`QMQC
M/)S@T`;0*1*0BD*PRA_BPW4$YZA@5XP0,YQR3IV@$2^8Y.0.@Z[B`<=!@`8R
M>G3GC-9<9601/\HVR.VTDC`PK@>_/T'4DX-:D<;W"AV`1,G#GJV2/X<@#`.<
MCG!&<T`;%IF5_FPF<!3CH.H[]^W/Y5T-E$OVF%-V070,?4'EL\]LD9X!X`[5
MS4*(NT1R[B2`,YQR,8&>._'3\2172VS-;*)'C<R.FV,E=J)D8W+C@L1G&.@H
M`]$LKZ.QT+5M-4#_`$QHY$<D$`++\JL`,XVY[=L]*M:6S)9M"J1/(TN]9D):
M0J5VM&AX"@\L<C)[9Z5DZ#:B6.);J1;5+CS"DDQ"I)LZC=("N6)8=N1C([]%
MIL42:O%;I*@AFDEA=\*%V+]R4`C:FYL`$8SC(X(R`:5I)*F"'<.#Z\#M@X/\
MQGV].HLY+M]CRRS1V[MM:7#[.W&[&!VP03MZURNR='YCEB!=E5Y$;RY"&;#*
M^!G=UZYYX'6O2-(OH;VU2UD2.-XXPAB#<.J@*7`;').>!D]\GK0!KM'%/$(W
M&]-H`R1D<?*P(SSWR.#648I;!PR$O%Q\V.`"?NN!C!'0,>N?3-2B.73V)4M)
M:$].K0Y/3W3\OSK35DE0$8=&'3J#_G\Q[&@!]O<),@(."."#^G_UJ2>V67+#
MY7]>Q]C_`(U0E@>V(DB),1.2.I3..">I7O[8^E7[>X$HP>&&._7W'^?_`*X`
MRT38)`00<KG/L#S^-%7,#)/<XS^'3^=%`'^?7^U<5F_;0_:\B9P"?VF_CX$&
MP2`NOQ7\5J%"G:"VPC(`X4??WD&O+_A[]G/B*[)4%?-C(1L-@MOW,\A&XG=@
MX#$`;@#P0/4OVK(=_P"VC^UMMV(#^T[\?]T@VH48_%CQ=\SDL&.0&&X,`"`5
M`W`CR;P2'C\2W4&U)2TL,N=Z>6%7<P("#:&Y92C$,V_+'Y.`#U/68MFIZ9,?
M+,AU33MH?<4W"Y(8%1NQE20HVXPH8@G.?I>^DC'AV+<%6<*Q^4`.,YVE0``&
M/!PW3D`X(%?,^M,@U'2$"J7;4[!C\R@AOM"[1E59DW*QQN.=O3/;Z-UDJOAZ
MV(R"5^<DG)<`JJJ>_.""5(.>&.!0!ZU^R+(O_"0>,(KJ,RL=`\81;RH5B[Z!
M,\<BG!&Y0GS\HP!PIZ"MW14#_%CP.T;R((_%>AQEBVUTE;4H0"7!X9,_>PIW
M8[<UPG[+T<]SKOB>2!_*D_L_Q#)]\J2%T&X,C\DCRRJ#"KM)8MD@8(ZCP]-+
M'\3/!T3W">6GBO14DW;V*N^IP%?,V98\E"^&`*G.>@`!^E'[8GDO<_#'9&`X
M\#HDLJDJ@\K6-34`,GR[7VL2,$EF)4CYL_27P_8C]A'4?*D+$Z'?P[@KL\?_
M`!5#*5920&4!B3D``-D]*^=?VOX/LQ^&I$>XKX.V*2K!A(NLZJ7X8[6`W\8/
MRG&1R`/HSX6R+<_L-ZW$%<21:1KD8+*%!4>)"`>ARPR<,"1D#GDB@`_9NG9O
MV9/C#%$2DMM>>(R67@J9M!M"V`"3L.#A3SC=C'4QZ/#+=_!'X&6_E*RR?\+7
MT\&0!MKS>&?%<41X4KL<R%?F(;MM.XX7]F#;)^S]\:X%._\`TG5-XV[R0WAT
MKR?XBWED$L,@KG=CI)X$G+_!GX&RR$>7!\0/'UD54'&ZXTG6Q$N%4L,&3+$,
M,`L0#QD`_DUEMXTLO$,;+B0:YY192"L:K<D,&7:&&2#M)`],@+7?>`E7[:H+
M?,5`.XY.T;R%?/WCN"$;2<$Y.X$BN4U6,&+Q=M``3Q7.JY?;DB]D`V@Y#;2<
MD'YNK'!R:ZSP"R+?(K28`4!NI)<').55FW`D;=O''WCB@#VWP.9)+G5CLDW"
M5@%5OD6-57YMP.W:<9&&!R3P"<'TSP@0=>U%HP1MEM]Y)+$;5E+*6<@[,%#@
ML<@`@@]?//!;0O/J;G<0]S,JK\P8C8%&W!QR.2IW;0QR1GCT;P8COK]YMC(0
M-`@D.QMWR2$EQP`P[`#&!DY(%`'91,5\6:,-D9MQ-/O$8(+2^1,5;#-DC`'"
M[3N7!#`G'I'CF)9=,9]\958@%X^;:5^Z1]_$C`GC.,#&<UP00Q>+-%F)(1;F
M==X/WG^SR_*!A\'('!Y)/7&17IWCQ$-@\I3):UC$:*X\Q<1@,S'Y00<E0>&S
MT`%`'TW`D@^%'@EYA_K8+P[R`P5!:Z6R(#C>ZDD@E^0?N\*17T!^RVTTGPK^
M,%LF&7[3<;8\AE5SI]HQ9``01B,,3N!RH'/6O#8O,3X1^"XC<>>OV:<QC]UO
M19-/TMRO!_A9@F7PV<YKW#]E)3%\//C"AP'`G('503I9SD;BAW9`.#U&/6@#
MT3]E'$7Q*\2V^X9?PY>*Y!Y9DU&U`#@_?"EOE'0@]#@@^A?`=&C^(?C&V;I+
MX>UE`0"H'EWULH`QC&`3CITSUQCS_P#995%^+6M[=N9/#U\F5XZ7UBP."?7C
M..%XS7H_P4:9?B[XI@=E51IGB*,)M`8A=0M?F'/()!/0\$#@<4`;OA>(2_#&
M2V6528_%/BZVDYW;3=>$-23D8R6);=USUYYK^<N>+&JZJ"2"FHW"8'/65E."
M`,_-Q][H2#UK^C_PFMM)X.U.W9B1#\1IH>%*;C=Z-<1,H/IY;NI/(9AUZ@_S
MEZI&R:YKL48`_P")M>ID@C:%NG[8VDC`Y)ZC'3`(!W^G(6UK2F.X8"D$DD%0
MB[5P5.",\@N0``.,#/JSB%?$6D22RI&1'.NV1T102,]7/5B`H`89.5&:\AT>
MV-[>::MY)-(Q4DA&$0&-H*G8J'!*\X.=H!!)KUJ73[,:_I96!2ZHQ4R,TGS*
MH)8K)N`8$$@Y7G/0]0#O-4NH4U#2))+B((+R!MQ=1\K,23C[N1DYX.``?<>C
M^([VQN-$MQ'=0N?)4LX=>`%7<=N<A0P'/!P,=>O!:OIUL)]%D6*)G-Y;\F-`
M_P![@NP"D$`_WL=.".:]2UFV@/AR*01)Y@MUB'[M=S`1C)W8`)P,^_3J:`/8
M1=Z7+\.O"G_$P0LMG=QG)$:JWGK@(6PS#.[)7(#`DGD9^@_"=U8W'[.]JD5P
M)&M]0A\Y/E+1N9[]=R?-EU*X;/.`3D"O#K"VB;X:>&@T:.JP:E'&=BR8_>0N
MV[<,JI8\%0,>M>X>!].@G^!%NDT,03^TIB8RH*%EO-1(X(/?&`N>3DX/``.^
M\&;;CX$:DD+&1[>[O"Z`J2`NH(YQD$#Y6ZG'<`\XKT32Y@=!^$5P#A?MUK;M
MDJ&S);S0E6'`SE-K8YSZ9S7E/@;3XO\`A2?B>&`>2O\`:5_@P2/'(I$]J>71
ME/`R`#E=I.0<XKH])6^A\(?!Y;>Z;_D9X?.^TJUQN47MPH"L74IC=M`SMZ'&
M<4`?$/[9,'D_$G29@,"3PW"-P`!_=7VH1`<]<;,9_P`*^9=)=8+O3Y5VX#6[
M2%^@S,RD#.WC!^8\<8P3S7U9^V#;76J>-M$G:);+R]*O[:9IYD,;>1KNIHKQ
M["<(5.<'!&3D``$_->G>&H&"[]1,Y8+M%JCD`)DY#%<$J<D9.,Y].0#L[><+
M+JRE8P9[>VC)+#8'=R(V)(^4#(Y)`XQWQ7I-K=QPWNJ1S-&'CTVU213QN=(I
M4(W`8QTP1V]<C'`:7X8LFD1WBNY]I4LUQ+@28.55U#+D+V!7`!/UKOX=$B#/
M_H,.97!<R2%W.!PI8,20%R`.0`3VXH`T]%>U,&F;40&6[N"4!X939SJSA6PN
M1G&XX(8\<GGZ(T?2;#3/#/@#Q))*RSG6T%V'21E2*WD3R550N58IO8N>"&&>
M`!7B&GZ/Y/EM':0)Y?W>'/E_[2G:0-Y/)&,YZXKVO2_B!XSM;.WM!<6MQ#;[
M0D%U;P2J@`P,!X2``JKC&#@8!H`K-<P:CJ;WD-W:$R:SJ3O`V^.4?:#,R#]Y
M&J-L"Y8%EP`,9/`V['1YGNK5DA\T^:^TP*LASYD0.W82>2PQ@XSZ'@V(/%<5
MS=F\U;P9X?O[F617DFA1K-V=1LW8MYDB+L"03Y>3DALUZ-H7COPG87*SOX0N
M-)D8`-/:2_:8U!DCD)2.7&T;XE.4;=@8S@T`<K\3M)^P_!O2O,0)/)X@%TQ"
MD,/,%TBJY(R&"HH*D\'CZ_)MNP7!P&(;&,=1G`.!U`SVX_&OO?Q])IWC;P#J
M%OX?6#5Y[.8ZC)92%K>[AA0RS7$D,#8\UXHY'P%8CC(R1M/Q'I,5K)=LDL("
M9RBOD`$$`@XQWSQ]2/<`L6TS^9!-%$AD0$/'Y0*`AB%RO\65P23GD=>F.EBN
M[B:0-=A8P-B)%'$$'H<`!1QCYBV2S$`5;MS%;F-X(XT!)#@(&RJ<$@GE2!R>
M<#&>2#7175NDD&&`#2(SQR%>5=%W+@[20#C!QU].HH`R8HR6RL<I@67Y^`,;
MN2O!([#O@?+^&DTP=@J`JBG:%(Y&..0,`=>_/'3L([::86A161@6,K,O`1``
M&&2,DDX.<$]>>U=)HVEPR0)<SJ)))#E58_+ZYX([=^A)QC`R0"A:JVX':QP>
M,C&?<^O7@\9SDCK7H>GZ?<7UDEQY3RQ6\\<<C[@B(TBDJ'+<8^7.>P'/!YKV
M5C'+,7,2QP1@C"J`K;1U).3QSC''`[DY[*T_M)/#VHI90(]C,2[K'Y33IY*_
MZUQN\U(]IW9"8(!`S0!!%<Z>QBAN[2]N/LR!9);:=ML2[P6:--K1`!V!&#AF
M(RW-=?8Z9%<7%G<6,S2V9N(DN/.W+>QH9`5:92,;`3M+J2H)&0":\_T.WFCF
M29B\4+*0Q4*7*Y!_=HYP#D<,1CO@XKUG28-*E0OI\[VVIQJTF;B4_OR/F977
M*QNK$`'`'7)&!0!O!%O8[@/*K$+OV!RRC,DB1A4SM3RQ$`2HW%B23C`/.W?^
MA7S>26CP(W7;D;2ZJV/S/KGDYQT,MG?V$4TNIRLL*2B2*2U1=Y,Z_,_DL2/+
MCD)##(P#N&:QKF_%W=2W!VJ)&RJEA\J@X4';Z*!R<].@H`]&TK5TNT6&X*I,
M5`#'&R8$#@YX#'/3`!QV(R=$PM`Q>#)C)+/#Z9Y+1DGJ/3G(R#D5YE;W.S@$
MLPY&T=/3&3GN#^OO78Z=KGR>7=*S!5^208+<#"JV3\PP!@]1ZXZ`'4QRQRJ%
MX.1@@C\P0>0?7(YZBJLUN8CYD6<#DKZ'U^@S^'3WK,&HP-.'AC9!@!B<?.?=
M1D#KR<YS[BM6._B=1G</KU('7Z]_J/<T`6+>0R)R#D8SGGJ/S_.BI(PH&Y!@
M.`<=/QQ[BB@#_/S_`&L("/VSOVM9#%'(A_:<^/SMN7(*CXK>+2"2<#[Y9><'
M`*AB-IKROX?V[S^(KR7+,J^26C`7R]Q.$;,8.YMJDJ`2N6YP0"?7_P!JM&E_
M;,_:W)!Q'^TY\>5"1(<D'XJ>+#N=E&22<9!&5)!SCKYC\._,B\1ZE&58J)80
MA#KN)"R`(NT$@;0!L`)(P1@@X`._UFVB75M,E<!6_M+3S(S`$EDN5V!CMY5%
M8CABV2JA<$X^C]1$4GAZ.0QJ-K-L)&PAM[<D!0J`H6.3A1]Y2<5\\:\P.H:6
MO*G^T;(D.1CFZC4`'#!BNTC!Z@`G!/'T9?M*WAX+&,]W=]K9'.XC((QG:1M`
MX``SB@#TW]EJ=7\2>*%6(M`VB>)8@`V`9O\`A'KPH)-H8R!B!A2V"3NR%(PZ
MRX^)7A9V,D<2>)])E8*ZE@HOX&,<<>1ARWW1D'((&:O_`+*2J_B'Q''O&U=*
M\1L^V01(I'A?422RKDD@`+NP<9"@9.*17C_X3WPY*L:LZ>(-(*RE5`9EU"!A
M@D9*R$X)"ENF!M(H`_33]KRX6XM/AI<^<S_:/!NT$<,JKK.I+\T?1'R.2>I&
M#ZCWKX2O*W[#WB%0-IBT[Q`H,:Y9D_X21&)*!<;?F+'DD#)'&,^$_M?0!;'X
M8%HU51X3NQ*J':BR+KU_@$@*S*"21\@!/!&"<^^?`YDO?V*?%D$957M['Q<F
M=Q4_N=3ANL%@"2020<]<CC;@``F_9-_TSX.?&^V2,*#+.%503YA;P[=*QP>A
M+`C*L>26Y((JQ\-5B'P5^#R,1&4^+WB.U3<,QJ9M-U0ACD<JI95!8$;F(..#
M3/V.B+GX=?&JSBX3,.2N#MFET748\```YPJD*J\DX.-PJ;X;C;\&OAFS%W2U
M^/J6K#82RF['EE)"@)BWM*0`N0&=58G)R`?R@>(;<1ZCXTY?='XRO;=5!PF6
MU"8YVG@`'.1@XR#P#QV7@V+;<*-Q5O*4L$PI9CN8ISM7:FT'Y2&.23NR*R?'
M<1M/$7Q+MMA18OB)J4(0R@E<:I>`)L*AF*!1N?@=MI^4UM>"MHN8TV@D1%MQ
M<;2RJ22C<@[LX3!P"1GG&`#V;P5;E9+YBBNRW1=^<Y(1-P#ELMD;AD``\X+<
M&O3/!Q`\07Z[0BF:#"C(R2C8<MDE@!G`P#D@=CCS_P`$AUDU#=\T8F92BLCA
MR%5BR@98'^\2`0>.HKT#P<I?Q!?%!LW2QG:5#`E4DXW\$<Y&".H`S_#0!W0:
M3_A)])(`):[FVJQW*=D#EAC;R2W*\!F`P3FO1O&<,DMH[NP1U@`Z':X\L+GH
M-VTD\8'/'.,UY@DCR>*M&+%DC-W</C&TY6*8`!`3@J%R.A*D9;M7KOB[?<6*
M,4V@6;]2%&/E=6(&"K;>1PPX.<<B@#Z>TNS(^$/A"3;'(C&Y\R1P0X"Z7I#J
MN!ACAN`<E5`!YSBO?/V3\7'@CXSVY)$A221`58(5&E7!*;@.#E`3SV)SBO#]
M",H^#7A8S$<W+^6`N"0^C:5G+\EB`%.W(`'0<YKW3]DYHU\+_&6!%*.;4,2K
M`C#:3J8)RS8Y"D$<<CGL*`.V_9AB:+XNZBK`8/A_45&,DDFXLWV\C*A%'!S@
MYY!)X]%^$!*?&W75VDEK+Q+'N&,KFYB=(SD#G"':2<'DUY]^S:`/C(R@MF30
M=7ZC`)1K9@3N(X`5APV#U&<`5Z1\,1Y'QXU&W`#&5?$R2.K#(*.Q0$YPV5!Q
MU*XP,@4`=!X61V\,ZU$FP,GQ5T0,V5^7[0DMN2`V03E@N"".O3@C^=K7T>+Q
M9XAA;)\O7-31@3D[H[Z4'(/!P<YPN.02.`3_`$6>$$6/2O%B!.$^)_A9\-\P
M)DU9H2%.-N!R`Q''<DU_/3XX@^S?$7QC;`!3!XKUY,]"-NJ3A2I)ZJ>3@$8Q
MG..0#HO#HDCU/3]S'#>8J!2?FRP[$G#`8WDC&!RI/->S;=VLZ4K$`-'-N/.,
MA/F'0$$J,CMEOFKR+0HQ_;5DA&,%G)Y9"0>,$@[@2"2#M!8_>XKV54!U[3`0
M=HAE;D<D$!!CC(.">"1P!SM(-`';ZI&'N]),!?8+F`*I/!"D'>3R"<'`QSUS
MC@UZ9KJJN@PHI9BT`;_=81@8!(SDY)&0!D8.>*\XU.+;=:2@+#=>V[#HN`S#
M))R`#C^'@@_F?4/$$&=%MRF<)`2Q4YXV[0!GMNYYQGMUQ0![9IS@_#70#M)*
M6]\S?*VX<P$G=R.AYS@^E>V^`&!^!EKE?,"ZK<*@8@9'VW4,L<@\)G..,XZU
MXEILA/PVT1<;3MO#G!VME+<[6!^;Y<Y(R!V'7->V?#HJWP,"C>2NKWH"J?F#
M?VA=-MY.0!G`')(+=C0!W7P^*R?"+Q9&!N*:M>`?1S8L"0`#E<]!D$<<Y..D
MTA`?!WPR;Y=EOXGCR,\@KJ4V#WP<@Y//&`<&N7^&Y/\`PJWQF,%0NJ3CCKN\
MNR;C&!CCGN/>NDT9P_@/P5(?E^S^+"".><ZI,,@9SW![`<>M`'R-^V';0QZW
MH<PC3?Y.N(C/N/S+KMTS*H.`&_>9.#W'T'S)X?O!/?Q:>KA8X4$K2(<$Y`SM
M'4$XQC(P?4U]6_MHQ'^T_#4FU2AOO$4?&<Y2_AE(.._[PG&.2>.<U\?>$B/[
M<DRI&8"HZ#OG)Z\`C!Z=0.:`/7M!D\_4[FVR-D*AN6^8$HQ"L<8Z#H">.1Z5
MV6DR/)JLUL06BB5'4=P6+;@"1G@+CL!CH*X7PQ&#KFH9!_U2X`)P,;P3Q[=!
MTQ@=*[C0%(U^=2K?ZI"#NVY&YL9)4YYY^N2"`:`.@TVZF;6/LBO(8O*=B"2P
M(4ID$$XSR1QC&.P%=;`TL&JP6R.3%,DF8VRWW%9EV\94C'RG./7BN-TX[?%2
M1+P6MIRP)!SAT/4D;OX>!SGH3S7=QP3W?BC2[:WA,L[R2)'$H)+EHV&`.IP!
MGD#`!)..H!O0K+%J"VI!D$T;NN_`"E!OX`ZCM@Y'(Z=N@M;6YD@N9?(DDCM9
M8%EEC3;'&)PQ0.P!4$[3M!QDG':NA\':9%/X[M;:]MTN5&G:FJ13?.%N4M7"
MG;C!*.ORYX!QUKM?#^F2/H7CFP;,3I+83A67&#;M.=H&`03LP.V>>E`'CGBG
M4[CPI:2O`TMGJ,D;V]O]^&;$T1$A=1C<ABE#<C#9QR":\0TM_,N;7+L6<O&Q
M(./F.0,\#/4DC/.2`2>/H_\`:'M%6P\/70"AI+AE=C@_>TS33\V.J@!N`3R>
M*^9]/<6UW"K,I6"YY;=E#AL%AWVC&<CGGMUH`]#LX]UL@`!V7#J<]LK(.N<=
M>>>HXZ'CJHW\VVLRQ`)VJ0W3!4ALX/&<]>./4].6TR9#$QWC:^HJ5YX(.><X
MYSVR0/05JM=K':VK`J-L^""<#B1N@&21@#`SG`QGM0!):X6VE!$89?-@!/FA
ML-*1P,;68Y^7)P`,]:])LXA'';+CB.W+`[<`_+SG@$\`<>I]#QYS;,)()P5;
M>]PDD*;6PZF4.[=,$`<X]?P->B6<PF6612I5(`F"W/.%/!YZD\],_E0!T-O#
MMM92<@LP3J!C<$4@=>I8G&,^N<U/:1&5XPK.B@OO3YD#(A*!2W`9"-O3@@'/
M%:FF67VK[,A5F@>_5'<*&1@FUV1L'GA?F`.<?A4T$`6XDV[A'Y<:HKHZHI9G
M9MI.Y<'@'TQGF@!UE<V$-V6U!'ECC`Q;QN(S(2/E5F'**H&3M&6)QP.:CU6Y
ML&O%N-+BFMXVC`>.60N(I2>=AR&VD`$!LG)Y]*Y?4&8:A<`$'8Y7*G(^4`$C
M`YYS_GI)"PR.6R"#@YX((/3KSGM^%`'0H69E$C[L8(X.`#[=.>_&3^=;,$<?
M9#VQD=>GY#\^A_#!B:1V5RH&`,`8```(R1G(SCG.*V89'4#@,.HRWI@<C)^G
M8^U`&W&`.!'VZDG@^OT.>>GU];R$C/7C`X'/.>O?CW-9$4LCD#.>.3@=LYZ]
M>W?![8K2C)X[]LD]><=OIW[T`:UN?F7GJ`#D9!/`&>O?K72V<"E1(S*IP2J[
M2P)'&3V`SQCKBN8MSR#C..HZC/Z#'?/3U.3FMZ%Y[9(B6(212R@L<8)(Y';\
M..>XH`Z.,Y49Z\<>F0#_`/JHJ*U9GC#,#R!@GN`.#10!_`G^U"\8_;+_`&M5
M9GB\S]ISX^9.-NYH_BIXKP0S(<*`WS$,`4PYR,5Y)X&F!\07XA,0*211M,-I
MWS"21@4+'<KJIV;D*@J`3DD&O9OVIHT;]L']K7YE0M^TO\?PQ=48$GXJ>*4!
M0\8?`R">A.<D\UY3X`4#6]250),B'?(WE$C`E\MA\HE+M@*S8!9F^;Y2&(!V
M&L+&FHZ;),X94U&VD\LM(T9<W$2J7`ZC=DMD/DX)#`9'T9>3?\2,&(9,L>"=
MQ545FQQC)QR.JAB#D#T\#OB/MMC'C:IO;-UW)PA%R@PV`2&`;DJ<X7)).U:^
MA+^2*'1D1E4G(D)"[@P+$JG.`J,0_P`V#[]@0#TK]E>0)XJUI'#N9[+Q!'N8
MLIVMX;U7:O1%`/+G.YCL*X.<U%)-%_PGGAYXW=_(\3:.)MRG:K)?VXV*<`8.
MP$%1@#@!<5O?LH$W/BS5XS&@,EIK,GEN`SA!X9UA7`((56+$9*\*VWCD@5YX
M((/&FA[`$']NZ6\FW)9@E_$6&3C;(5"@CYL=5H`_3S]L"&0>'?A7/,I1I-#U
M^,'H#'%XAN'1B@Y/RN`"P.5;.`<U[M^SMF7]C?QJC.#FV\:OP"I!0Q/GGC;D
M*02>`,'(Q7E/[9<,DGAOX5W"1B2,:%KQ"C_6!5UA64E57*DJX)+<@@K[GU[]
MES_2_P!DCQY!*WF*L7CH(AVLRK]AAD(*G&T[N1G@D=,\4`2?L1'?X3^,T83:
MA?32&"`[Y#IVJAV;:3N^8[<=<J1R*L?#>0#X-^%L@R)%^T3IJ.&3RE$G]H:<
MZ/U&,G.#@?2HOV&9B^E?%J+9A5AT9ONJ&W&WU6,Y`R&(P2.`<@\?-5CP7)M^
M"1VJKBU_:%T-&R"C,)-6T<?NQMR"2R[`,#&1GF@#^6#XMHUO\1OBU9[E61/B
M=K?0GRV":SJ(.`<YSDG<S9PHQ\N<7?`Z%KZ#S_F#0Y5&(VH-GRYP?W>3AGPV
M=^%/;.I^TCI4%G\;_BC'"GDR?\+)\2K)"X,08?VW?!7$>0'0@Y+``_>ZYJAX
M&6/[;!Y@4;;=6.>5*\Y+?*V0$"C!!P1D],4`>[>#(]DNIYP%-R[$1G)"X0@*
M"!AN.`3D^K<M7H?@]57Q!>1`L0\B2!WY1OW<F[&,8;)Y!&.!CGKYWX2"M)>[
M,,);N1CDD-T106X`&<`;0#M'*\]/0O"DQ36[M&4#:T*\J5"$I(5!)!W`D<<D
M`X.!0!VMT''BG0E&U8UNI'=B,YV6LJ`,"JX)+-US\W(;`!'KOB^.,Z:2CD2/
M:$Y^Z2GEJ59<'G<"25&3GG/KXL1+#XCT82(7!NYA@@G/[F0`,<[A@-DX&>.6
M`!S[9XI99-,@=D`)ME!"CCF)2HYQ\@^8D@,/7B@#Z7\/W4,OP0\(E7:22VOI
M8)-Q!`']C:8,(=S-DE>K*!P%4G''N?[(N9K#XNV0`_?::7W%2Q!.G:N<$`8#
M;%`#9!!P<8QCYY\#W44OP2TJ'RT26+5Y5\U@!E?[+M%50P))P8CM```Y##!&
M??OV-YP]W\6+-!N:;28G##!8_P"@:RK#G!&>GRGG(Z"@#T3]GAC'\9K-3("'
MTG6DR?FW,88VXSR"`#MSR",D5Z=\/D$7[0&H,-J>9J/B>-D(VL&6*YP`I.<X
M4DYSR20,&O(O@`2GQIT=6`4RZ?K19`,A#]C8JI7HN1EOO>@'&:]K\-QQ0_M'
MW*[AN;4]>8@C#$R6%X^"#@DA6!&0<C'&.@!L^&DB6T\?PN'"6_CSPC<$\CYU
M\2,OR@'IDXP!WP>`:_G^^)ML+?XL^/(6X:/QMXA4C'SJ!K-RI`YR,@8(/M7]
M"6CP&$_%4+SY7B70)U4EF`,7B(D-@K@8P#@8P!GGJ?P/^.%G]F^-_P`3H=IS
M!X^\2<@;6P=9G8;MV0`<X/.""#UH`LZ1$B:[8!<<1DN2.#N"$DJ><G@%23MP
MV,]1ZO:Y?Q%8CYL>1,,D_*0-N-P`R3CHF[;QD]Z\JT13'J^GL-Q#1,1G#`AL
M$*2!DA23P.#@=N!Z]9Q%M?L`P!(AF7."""=HW$\YP3D=>,9'%`'7ZO&Z7^F(
M55P+VW(QM+$A@><X7`ZD$CGC%>J>(HC_`&%%)N*YMT&U2=OS`@C&<;@>.1D8
MX[5YOK$*K?:6&W?\?-L-J@KDCN>['CJ,Y'<D&O2=>!70H^&+/%W`X`3Y0!DA
M@"..@ZDY.:`/8K!67X=Z(JE3NBN203]TF.TV[CGN<C@;NF>.1[9\,V#?!*]`
MWJXUJZ7"`,P!O9"2!P>A(!R>"=WJ?%=)P/ASHA8-DBYVGD@`06A()Z9(/3&<
M=,8%>Y?"@%_@WJY900FKW8&T?-_Q^`9X!_O%1DGW`H`[3X9J3\-O'0^Z@U&8
MC'!`6UM"7Y!&3C^Z<<_AKZ/N_P"%=^'G`*"#Q7*68$*<&_<@D8P22<@#'!SU
MS67\+"&\"^/8P-J)=.V">`?LD9)^8GL.<C`Q^>KI)=OAE:E&4F'Q3)M."5`6
MY^ZPRP/?KC'8#J`#YU_;/@7S?#+*K;SKGB"/>,D9<:=-CJ,8+L>H7DD\G%?%
MGAL;-<G.%.$`!Z?Q$%@,\\Y).3MP/[U?=7[:4).F^'9D'W?$.J*QR=VZ73=+
M<[1GH=I+'&<@\Y`KX5\,_-JTQ9&7]R#G</XG&3DD\<-ZG/0`Y``/6/"[%=<O
MWW9VPQL<9W$E7!.W(&6P0>.3GN,#M-#P_B"0*&R8EY.XD`.Q`QSZ^GYFN,\+
MQA=;U`DE1Y2C&#D@QOD9S@$'.3P,$YR>G;:`,^(96!)'DC&T_P`18@`L,X)'
M'KD<Y'0`U[57C\70'Y23#<@L1G`)4@@#IR,<^H[\UZYX523_`(6%X>56"EYK
MA=Q;<>;2<G!]<'U//MQ7FNB6BW'CW2(90#'<3-$Y()`61T!`Y'(/<$DD=>]>
ML:);_9_B-H`C*CRM1G"[>3@03+R23C('3DD$]>E`'JWARU-E\3+9&<%A)J<8
M/]X>1,1@$9!.,'))!)]J[72`K7/C^,C&8BV!][Y'N@,\^HZYXSZ9QS%J<?$Z
MTPP_X_[T@8P/FMY\KP..G&#W[YKK]+5?[<\;PJ%4O8RMCAAD2S`DXZ\L/?Z\
M4`>2_'V$7/A?PW(=H!FMY&R">'TJW4\CD@;`>,\X&3BOFRRM;*6$P^0S2*JN
M9!M0GJ<J3G.$QQG)^N,?3GQKC,_@?P[+G.QK#((&&)L)D)`'7'EXQT(/!X%?
M->D1@SQG@B2!@>O!VY!(Y^4`<>O7!ZT`:^F6YAB6-'\R/[7;R(64;B&R"&//
M((P3W.#CJ*TDM#+%+(RY*.RQ@D[48OV&<$DYR>>.`!2:?&?)A#'E;U4)`R1B
M1MN0#DCGC/S#)X&":Z2WMD-G<<`G[4P`"XZ2DYP#^9S[>E`%[3UEC-G;R+%B
M3:H8IDC@G'IGCKZ\8S7;6MDBRW*%/^6:G*KCY7VC)`)!P0W)Y'&<=^?$16>S
M8`#8+1N0.CO,HQT/48//7'45Z/I4413Q!/(,R0Z7`8\XP`\V"5&`<\`9YQS^
M`!UU[>P^'+4V-E#')*][%<P&4DB$K:0,TV.K%GD(4<KDD=!@1Z3XQ)E^S:G9
M1S1.!\T44>5&-JXC("D9.`%PQ/<Y!K!U:YCU#5)Y8R2D<%I'EB#\RP(CD<#J
MRD?R//$^E6H:^@*H&87ELJCL<,#CG/4@9]:`-O7/!'VNXN]0TH`1O;^:MGDI
M,LY`+K@ADVX'"!LY.T$'%>?00%)EBD&TJYR#G.5QE3SD8(P/Z5TVI^*=1T[7
M;J.&1T2UGD0(')1B#D`J`05'<$$G&.#7-">::<SLIWO(SG:,+EV+''XY_`>G
M%`&Y%&0!)D$C&3R2V023Z!>@P!T]L&KJ@*V!CYN1CL3CC&><'DYX^AK.0R'`
M8KP,A<@MUS@D#CGD`\@8Y(K10EMAXW`\>_S#COC&"?3VH`THV"X"_7/U_#J1
MC`[Y[5IP8XR2>1R"#T/X^X_+GJ:S8P%V@C+=3GCD\XQZ?YX)`&G;[6P,8Z8/
M/7W'KQZX_2@#8M0!G/`VXS_M'C'UY_2M@%IEC5LE8U*@J5X!.>A).`3U_G61
M"K%TC)4`LIR2`!DCDG)SC&>3GCCWV4(3]VHW%6(#X.",>F!]<Y(P10!N6>?+
M.3D`@+[`*.,=OIZ44ED?W9]FY^N!GL/S[T4`?P8?M2+%_P`-@_M7%O+,B_M*
M?'LJ6!++O^*?BK!RW4'Y@55@0`H"E<UY!X1E9=<NF.QI!);LJ1QLT2-O<,%;
MRE&#@'<Y!/&0>H]H_:>M?-_:_P#VL3*[D_\`#2GQ[90\8*;#\4O%*C!^4@!&
M(+!B3L4C`)KR[PC91V>I:B0\DAD,0`D08(5WR$"=-^=Q(5<9P3QD@'0:G/"=
M1T[#RR2-?V0:->%4BZ4'!.T%L9(&<.RIZDU]&:JL?]E29\RVW*3%NB`7AQNW
MN,@8Y8#!"GCC'/SUJ[A[NP5(<$W=GN$<3[Q']ICS*6R@4[0=ASN+#E6/(^C=
M05CH"F)_.0AB!(NZ4#@NKHSJV#C)P>YZ@$$`]5_9,%T_BW7)+/[3+)#8:PK.
M(3]G59?#6L?ZZ3;M7<!N7)!8C@YR1F:K(Z^*-,<APXUBR<F/Y58F[A"[6!^6
M/.`7&"!NZ\FM?]E*ZN8_&6KQ03+`;BRU0>5"&1)%_L+5A^\B)*E?+RF';:N2
MP`Y!S]6D0^*-,Q8$J-1LW8LS$,?M48B5`2%())^4;MW&TXS0!^JO[7,\MKX&
M^$142B1]-U^"2,S&3YC?6[D;MP+J&/7&TJ`"WK[1^R3;-=_LK>/DE<H\O_":
M(0A994_XE5NXQV((P>N3R".1GQ_]KY6N?`'PBG,269=/%$)C.4^19K!R45F=
M5P6!\OH-W&%R*]?_`&,O,E_9M^(MN9!+NO?%J#,@W!FT"V.X@G*AC@G(QQMS
MP:`%_8;?,_Q8@2Y!B-AHX78#E6!U%-_WADXP3P/F;;VJSX8F9/@9XG\EO..E
M_'GPS,79<-M&L:([NI4D\,&Y//7)K&_84C5->^*L(E+^=I&E298$$`7ETF0"
M=I!\P\X!''8UL>'%$'P2^*9#J/LWQ>T:XW,1PG]J:<@YY"G"$J23T'/.:`/Y
M]OVRK"SB^)?Q'OC%#]I@^*.O1O/@-,H?5[]I%8YW-@CD/D8&0<D5\^^$[R=[
MN`V,33+]F03DD0CDN?+!>,;F4D'HW'W3G!'TI^VY"@^+7Q+D5EE6X^)VMEU4
M"3:ZWUXRD2QG9(H9BI60;T`RK<FOG_P08[>_M]RQCS(&0)L+QC$4@*9Y7<S8
M8@\8SA@"<@'J7@FVU6274)%F6'=/(%0K]H(RO\;,8Q\I&"%!^Z3N.1CT3P_I
MEU>ZK>^=>SK)-]F4?8]D"L/+EWMAS(S?*,,=P">A8BN;\)/^]NQE8RSDH@)P
M`=A4E0>-V>NX[0<'&37=^#E_XG5XYDX:6&,J[$!E,<H++@+L4@;N,]0N:`-.
M33)H->T$-J-XZP7+H`9U:1U>)UPTL8WG<2"P)#$=<!B#[GXDL$72H?)NM1"/
M8CS(GG8J,Q)@(65I%R2^%#87/`'&/+9@K>*=#W[51+QPSK^\.##(H<8!+'JI
MPIP"":]Z\5")=*1A^\5+>$@D;23Y:DC;Z$\GJ0,=.M`'KG@'3+2Y^"FELCW5
MI=6VJ#S+F*[E=IHY].`"E9B\8*M$`Q\L'L&`P*]L_8^T&'_A-O&DT6K:E;7,
M>G)$L2SJ!?"ZT_5$9YK<QF*06ZH'1BA1&.3G=QYGX#CMA\#M-:#S'<:I;BY!
M!(69M/NBJA_E!4A01P^UAC=G!KW[]CJ)&\7^,G:&-I#9V$<<C99T+V^IK(%<
M84[QM!!&2``N,<@$WP1M-0@^.7AYY-3E+#^UT<""",M'_9]P&7(C93NP,?(O
MJ"O!KW=5U*W_`&IHMJV?V5[ZZ9FS,C,T^AR/R"6'F`$A<':S8)VK\H\B^"^4
M^/.A>:6`_P")Y%MV#"R&QN>3GL"`ISNVX`]:]XO(VB_:8T]P7*2W)8D``;GT
M)\*200<$X[XYY!%`&M#J2P7GQRCF2>S%M<:3>"2Z$:VZHNJA\^8LCH"VX$`'
MIR2""!^'7[0J0O\`'SXIO!)'/$_CK6Y5FB`>-E>^>3)(&"A+',G/S#"D\U^[
M:HD/BOXVPRPH\;Z9IEWY<OSI(BR;SNSG`+'/(XX/;)_#7]H^)(_C[\43#;K!
M'_PF%XZP1D",":5)/EQP,DE\#&`<=,F@##TK!U?3@B@!D9L`Y8+L`!!_V3AL
MX"^N"37JEM&4\0:;\YRJ2D[QR>!U8#:"`0!NXP#SZ^;:3&3K6G;=A`BRWSX8
MJ2B[E'(`QG(Y`!.>>!ZO:QX\16:LIP(9`00>A52><<MG')*J""!@<T`=AKD>
M;[3'W[@UU;JI!SM.1D9#=1DY`R/I7IFOJK>'X,@ML@50VTD<%B6P>!R<<$9R
M03V/G.JQ0K?:6%(8->6^0N20V_:5.,@$$!26Q@G@>GINOAUT"%0%PT.7#<X4
M$DCJ`>G4YP!QCC`!ZQHP5OAMHQ9CD>?@.=JL#:VA8*F2<*<<@+NSWKVSX0@M
M\(->12V4UFZZY"\W<#;5`&"OKD\=<]*\=T>`#X9:%-+OW;[@*5)X46EKCC.<
M,OS%1T;C`(Q7L_PD\MOA#XC0+P=9N\$9#$&:TX'&1UZ9)"XH`[CX3H#X.\?A
ML#]ZX(QP1]B9L\]FZ?G]!IZ)_P`DTN2GRB'Q.7QCL6A)"],9)!Z]>#@\50^$
M:AO#'CZ([E`D.<8'']GS$``=,;2,D^Y'IK:''GX<:PF2OE^("P/<`K;-R=W/
MW@>N2>^*`/&/VR81+X=T"4$!O^$GD4,1PIDT:R;DCYL';@XP,$\5\&^%8&&L
M7:,RY$(!&<Y(;=A3C.#@\8Z\=A7W_P#M@QL_@O0Y50OL\063@`C!\W0\_,6X
M&[RCR>PZ\XK\_/"PU#^U+F2VCMTR@WK<;W#+N905=<%"#QGG/Y4`>L>%UW:S
MJ(P<F-`V#DAF5@<<#`(Y]SGFNRT4)'X@<8(_=`<`;B3)RV/48YSQSUYKAO#=
MK?'6[V1;I8]PB+".)2CA@=P=GRPQM.-FW.><UW&DVDS>(P/M+QD0Y#QK$C9W
M=,LK@@XQ@`9(Y/<@'4Z%NB\?:1("RM]M38N/O?.G')SEL'..F/6O6[(;?B+H
M;@$?\3>1OF.<D12@Y`/&0,8SC)SG->3Z9I[R>-M#\RZN%_TM0KQ,J."60<,%
M(!R6P.1QGIBO2UT^Z_X3O1D34+Q'.M;?."Q++A?-YW;,9<#!^7D9X]`#VHHB
M?%"R7`Q_:<I7YCDA[:1NAXS\QSUX('T[73<_\)EXIB`VM)IET>G'^N3&1P#D
M,#QW/Y>?:C!>1_$[3"M[G.KPHK-#&64?9N00N`Y(SG*]#Q@\UW-A-=KX^\0L
M\43QKI%T08F8/(J/;E557`7S"<D[G"@Y`;B@#SSXOE6^&^ER$?-'_9^">Q']
MH0G.>.V/8_A7RWI<RK-;X./N!LMV,+YR,X`ZGH<8YKZC^)S1:A\,[4$O`9/L
MS(D@`E*QZC>H=J*78\-V.<=0!BOENTTF#`.+J0@C!XB4X.,_-SG#$#N>.N>`
M#I;&X`D$2NI<ZDOWB`3C+9.3CUY]?7MU-M?Q+92F1E#-=N!C/.96)QC@#CJ>
M"/J:YNRTN-0K+`%;=R9)"S#UY``YY[Y.<C(KI+6Q4*%%O%@%LAE+J,\$CN#C
M\<]!Q0!UEK(ES<PPQ!I&$=@P509)-HN)"V%4$D!23@9`&&[&O5WAM+"Z\10A
MY!#+H:B%S"[$OYL,@5F52,Y;&!RN#GN:\ETN.6PF2XLBMM<*&420IL<`@AE#
M$XQ@\`8]S7:V>NZ[$Q=+V61L;2)460%>A!W!AM/<'@@<4`:$*0--,R7$;ETM
MV`VRQ[28UR#N0#((QP3DG/O7HGA[16$EOJ$C1F/[7&Z(I)9CNE3<3@`;7`.#
MU&?K7'6GB2^4H9[/2[@*`,R642-M48Y9$7D>OMQZ5V5CXPMV"I<Z<UNH='W6
MK;D#!BX;83P"QY`8?ATH`\L\2QL/$6JJ!R;R5@%'!!/0#'T]^O)R*9:0_)M9
MBN[!VD<[AG'.>G)'X]QFN@\76T2ZE;ZG;7$=Q;7V]T9%VNC!\R+*I^8,&;@D
M]"`.E9T+`O(H'W'7!XP<G&,=../Q[T`78K1XQYBL-P7)!SP!UQG@D#@]<#)Z
MFM.",8,F_#`D`=,=&_$GDY]0,<\4D84B!NH8$$>I92".QZXZ8R1G':K$$*!#
M@9RIYYP&W;3GKSC'T`[T`6K>&249`R&).3GKSTSGW'IQUK4@MW!"YP>,_P"1
MZYZ=>Q]:=`H5`HQ\J@XYXXP`.ASTX/([8XK3C79'N'!;GUX'_P!8$GW]Z`+I
M2.&&&4,K.8P&12<JP/5@00/IP<CIGFK-M.[8.2YWX\LJ"&7!X/<=,#G''-4U
MC$A49.T9+C`Z\8(//'4<CC\16G;HX#>5D!>3A@"?O'H2"3G)[_A0!M6P4(Q"
M&/+9*$YP<#./;GBBFV<C2P[F'S!BI_`+R??GFB@#^#O]J>%5_:^_:M+W$>)?
MVC_CN`8_GV?\71\4MM"F12)P2J,NW:'^;(%>7^#0IU2_:-VD5A"C2`[B@#2L
M0Y!9AG"CY=H&",L1QZ'^U-*)?VQOVKH6&_9^TC\=W&]FCC)'Q1\4H$R,X!(^
M:0%`2%R0`2WE/@^<KKEV5V+'OCBDBC92&Y+8;:H9O+W-DN3N3!7(((`/0M8C
M*W%I@EXDO[78FT!@&GCW%B6*DKP(U8#E20<DBOH&]A#Z%F#=+&%(*`AG&"A\
MP@A0S8)9BI/`('7GYYUY]TMI(%=6EN[=BJ;APLP*8(;[P;'.3M(!*Y!S[E>W
M#:9HD)*,[O"T>S<I9592V[S"-NX+@,`,G`R<@"@#VW]D^''Q`O8(#;R3-#=Y
MA;)E=3HNJ[]F?W8_=EB4W<D=-QQ61XA=QX@AF:7;)!J-OY)1"71EGC(B6,9Z
MDY7"C((P1Q5K]D+4#9_$Q;[8K2"*\RCE7YFT?4XVQ@H?D$F5;=DX!&X8`@\2
MW*KKT'0LFH6XQM5L$7"E<G!PZD+M))P2O((P`#]7?VL9#<?"CX.32VYBN$G\
M2(X=B6!:'2-S,64'YB=Q#`,#P%X)'J_[$[(/@%\242-MT5]XF=Y"59&5O#4#
M``#*@#:7R1EBV#G&:\N_:PE,_P`(/A#>R,T9DO-?B^;;L#?9M%<H6`9<@J`K
MECOY&[DBO2_V$IWD^"?Q/AF9CYE]K"AUVD#_`(ID;R(PN"0`O*_?_'!`&_L*
M7`E\8?$6,%BTGAJQEVX`#`:D4X(QG!?D8SSG'3&KX?,;_"'X^6\4$O\`H/Q%
MT2Z90WS,8[^W9V5&V\+Y39&.QX/`K'_8=('C[X@(H7</"T(2144$!=5BP#@#
M).X$$':2.G'&MX-=[;X:_M,M+'O,'B>Q/S!@-QN+M`X*C=N#<DL>H/;F@#\)
M/V[]+CT[XR?$6<!H9KKXD:@\RQ-B$F62:;?LR5,FTCE4&YA@GD`_.WA(.+ZS
M8AC$($9W8,Q4&,9./X3T5M^,IC&!U^HOV_8<?%_QTRN)`_CY6$D>XJQFLUD.
M`P+%@>N67+*^,#&/F3PDV+VS+%?G@</C<%`:)@#@@@L<_*KD'.%R2!0![%X5
M1!)?2;8BLLCQ>8%&"%*Y^8$[L*QY/R]\=,^A>$(@VL706,2!7B,>0``6CE*[
M2S%F)P>,?+P#BN#\)"0->1+&A5)I,.I`5U*IR5(VCIG`4$DL=M>E^#D8ZQ=H
MVT*AMOE55`5A$Z_>V@LS*2<DD<9R*`.JD15\3^'Q)E%>[*N@W9`,4I+;4!8$
M$;MW7:O)`KW;Q>D4>E(WEY4VBE<,/O>4>3D\[ADE3WR!VKQ%5`\7>&PZX#7I
MSAD57_=3=5R"&&1@DG/((XKV_P`5KNT]=S`@V\:[<LHR$V`'(V$G[P```4@@
M]!0!]`?#N&%?@!;O;J'=M8T[<R'`C9M-U!F&#U(*+N(SDDX?&0/>_P!C.Y=/
M%/C.+:,O;:21YA1"2C:@F]4+`]6R`%(&<,!D&O!/AA;!/@3O:=E1]7L6#(QV
MQLEEJ.`QRJ[_`)N0@R5!R"1BO=OV-`C>-O&*D$B2RTLJPP"6,]X#N+#<.N`(
M^Y^;MD`Z'X3,!\;O#[J27^WZM'(0&`#-8WI^4#UVG.1@#IVKW+6Q+%^TAHLC
M$!'OK-4#8X\S1]AP,@_."0,GJ>!R37@GPI=8/COX=@'RG^UM23`!+%397R@G
M)X#GJ?FXXZFO?_%`"_M#>'F&XL;_`$LD!>"#8*G+$;>!V.3V&*`.DU1UA\7?
M&IS_``>"5G9LD'$,2.,$YP%+9)QGH.`3C\/?VC9-_P`=O'S1.66[UNUNT;^!
MA/9VDH8$D$'+,Q'`/7/8_N7J<:OXX^+T>P8F^'\K,6`P<6<1.[)&<GGL!@C.
M37XA_M,1Q)\</%$\(_=2IX>D50>-TN@Z86(8?[Y()P!G\0`8&EEEUJR88!-J
M,-M*D`%2&*YX^7<ORXW%>,YS7J5H[_V]:!V<_NY2K'H.%Z]>#CIC.,9Q@UY?
MHK1RZS8A&9E6`+C#`<[`0H)^8$Y)89QR<\<>I1!(_$%FI.5\EP5&!@Y7D'J<
MJISW(.>10!WNM+_Q,-*545&:]M-QP?WC-(,'@`;>!GG.3TSG'I'B+=_842L`
M"(-H4$@%B&R,C)P>#DC'UP*\WU56^WZ+(@>2,W5J02<E@9`0`"1C!X)/()(S
M@D5Z?XB4G1(@Q8?NBQP1M4C(PQ].G!YQSCB@#UW0V#_##15+G<KSY7;@(HL;
M(@CJ"3G:2,@D`@8;GU_X0R_\6H\31J#A=;N0<YPF6L"2,\@'@=2#R?6O(/#B
M,?AGI:X&PO)N?@GS5L;5F7/)V?<`.3SG)&2*]>^#2%_AAXJ165MFO7#3*2=P
MC9;#('`^4$C&<G@\"@#T+X0D-HWQ`C/RC9&R@<DJ;*Z&_?QDYX('/;ZZNAML
M^'OB1`,E-:0@,2/O16C#)ST.WKWYSSTH?"="EAX]`;`^SP@#DL&-M>@#G(Z`
M9[YYZ<5:\.;V\$>+$E9G":Q;G+<'!A@.05Z@D#I0!Y]^U0H?X<Z7,PR(]4\-
M3,03C,NDW:'!P<YV#D@G!K\_O"V3J4ZX4$QQO\S8)!8X#9"@@YW#KZ<9-?H+
M^TZID^%UF<CBY\(NN,X&ZPU"+/3GZC/'4=:_/OPSN_M6[SRPCA&.QR3T(V@]
M`0",`GDT`>I^&E#ZSJ`8`CRXL;<C&5?/0#@'IT]<9KJ])7/B&3G!2`H%PV2-
MXR5QWZD>_/4BN6\+L?[:U+:6.V-1D=CL8@'@AAC&03D9'7BNLT%,^(Y"6#?N
M"^>A&944X([]N>@/?)%`'::'&G_";:'ORR_:E"@XRIW*0>1SG'7.<9'<8]-7
M`\?Z*'5@$UU`>"6^_(O`(&`#T'&!Z'%>9Z/MC\;Z&S8.ZZ(&X]#GCDCC.,\<
M^_%>H3-N\?Z6"2%_X2*(*0?F)^T,<C`(YQR#C_=&*`/3M7!7XE:4V%4+K-JX
M(X^9XDY)..S`#!]0>XKM;55'CS5U).9=+NQMQCY3]F<$8ZY'?/KD9KC/$#!/
MB%I;C@G5-,!!/&2L0SG`P<<<9SC&!S7<H<?$"55`^?3)PQP<G,$3#&1SR!TY
MXSWH`\]\?QAOA=&P&TPR`<`979J[IR>PQ)VY]<@G/S%8,)+UXAN,:+NP6/)V
MX8\X!`..,=>.*^IO&\8/PQO5)),<UT`"<'*:O`P/4$XW#OGGG%?*VDK_`,3"
M?'W=@'M]<=`3]W@\$#N>0#K=&S)-<"1<B-F"C&<#@Y'7UX/3M].AT?YKFY4@
MN$?"@]!E`3@'(P">1TSCGTY_003/>X'W7;DY/RA$`XP,$?ASFNET1<7%X<C/
MF^G))C&#P3CL>1P`>/4`VM+&^]N$(!52#M/(!8'@#G'0=N?48K<TY!)=WD(4
MA%V$*N<Y;<"/8G'T_*L/1U;^T+O&,A8SQZG<>-W4=/IR.V:ZO0K.2>[U.52%
MBMHHI')X9F=G"J`._4G/;N>:`+EC;EX+@+O*0RE2^.%+#*J200#G..>AX%=-
M%H]V?*S$N7LDO5VLNXQG:H[]<G&WKGJ*MZ#;&?0]9BR!Y-ZMQD@G<!"HVY^I
MZ$$'GN<5V=E&OE:5+CYWTB6(]QB-49<=.G//!YZ\"@#P&\NI)[R17W(D,OEI
M'P-NUMKG`[L02??';%:]J0L\P[;X<>@RXY(!'M6?J,#QZIJ05@N+J=2">QE)
MQU!)&!C`)Z]:O6D<@WM(W+O&QQSG#@#KTZ`]<=A@4`;\<G[F'CG?T'&`&/3'
M;C/U_`U;@(`8@+DS@`GKR^[U[8.?Z8K&B:5CLC)PI?<?9B<\<]L9Z\G\3MVT
M*94;CU!Y/5NI./P/M^?(!OP\D@=]@_'(_KGJ1_*MJ.!G08'*QLY'HH(Y!]1D
M8/UYK)M(]\B(KD[FC3YNQ)//`]3]#SDXS74>=!!#&A?$OE21$*,L,OM#DX`"
MC;D#DYR1DYH`JQY5&;J1G&?0<=AZCG''O2PR/D8P.3CG'&#D=_Q_0\<Z45M%
M/%E)268$<[6!)YP1U`/3CIS[FJ0B:,[6`SR.!W!(..WUQU]!TH`V]/SY!SC/
MF-T_W5_SZT4^R_U//]\_R6B@#^"_]J:$_P##8?[5;AF=6_:0^/Y9<%5#M\4O
M%4?WV0J55-G0!E891N<GR?PBA?6-02-1*LGDKM#[B`GF,9&9R&*L%4*Z@$L#
MDX(KV[]J.VC;]KK]JR2/$C']H[X\QN%#!HF?XI>*B'(/7#DKGH3M8$``5XOX
M)<P:U?0/&C")H%4'Y6./-+G.6+[SM4E6QL0`<X-`'9:KYOVBSC4`HES;J[')
M*-YR*H"D$$$,23D$8.#CD>^ZDID\.QK,2R;#Y11%X*@`8;)R$53D<9);NV#X
M3K.!<1.1,A2>#Y.5!S/&0K[ARQ7Y\A0-NY23G!]QO&\W08V>*01>4=I4J4^0
MJ!@D``,"<#:1G;][!H`]+_975IOB"4C1@769C(&B1HRNF:CM9MX<+N"@*`6)
M;`!]6>*&V:D77"R&]@0';D,?/4ER1@EBN1A6!!^]G`!M_LKH/^%E:=(R7`Q<
M1ATCA,[R1-IVH!HBFY02H(?.,':2"<56\511F^:51YL2ZF75P7#B3S55ADL%
M"C;DK_=X'08`/U>_:=\VZ^`'P:WL[?\`$SU]79A&27.G:(^UE#8#9S@@9!ZD
M=_7/V`G=_A/\0[<LNT:G?HR;`9=S>&R67<&.5*X7`7J#SNKR?]IF7'[/GP=$
M9@XU;5BJVTHF4&31-%E",V\YDV9+?,`&P3QU]0_X)UW0G\#?$>`_-C6$;>Q!
M&7T.=&QG!RV!N((.1CMP`6?V)U6/XE^/54%6;PK^[BW@!=NK6VY53)&`Q`RV
M2."1FM+P^MS#X`_:S0H\KVFI6UP(M@1CMO\`4B[H-P8B(`D`D;@G``XKF/V+
M+AD^-?CBV\O`/AK4]Q#*5'E:U9C(.6P.<`9Y8$CT/J'A2!YM*_:SLW(+-<NX
M+'<#&&UEU60],`,O7#!>O.:`/PH_X*"PA?BWXJ,43`3>,--E_>`*=UQHD,Q/
MJ`S%@C`$D`%CEAGY>\'!Q>(Y*RB*']V7`"C:A+J"3@Y4E0!N*LHXYY^M?^"B
M2@?&;6`514DU;PW=>4@<Y,OA2PD\S+$')W/A58@_+MPO3Y6\+QP13(SL&C*(
MJLS#/F.H=<1@9!/(^=3RHRN<*`#UCP@%'GSH#C[1,X1,*&7`&0N<#+8&1QD'
M.2:]+\&8.OSX)CD=X68,QVXVOA1\W()4EOE.UCU&1GS/PJLL=W>CY6C\P!N/
MG&X#[RJ``N.5.!N/7!XKU+P.8Y=8O%;>TCS6["5%!PH$HQCY3NX9L`X&3ZXH
M`Z>ZA5_%7AZ8@2$:@X8+N"Y$,@P&!SC)QQG!Z\$U[9XN@DETN%L*&2V0QY(&
MPA?E)`.023G/<>V*\:G$<?B;0&&65-097XVY++(`VWM@G)&!D<$C->V^*54:
M>A!<B2VA"$@$?<.2!@Y!*X7)Z<XSQ0![]\-1YGP"@$C@HVLV,;1Y&<BSU)G8
MA1G#8.PL!A1PQ)X]N_8\L(S\1_$C8=EAT[39<E@IPUY,J@#/S!L<[5!Z$'KG
MP3X8R%O@A.JX!_MG3"H'!_X]M9VMW7@Y&W@_,.F`#]`?L<R21_$/Q1&2S--I
M.E@=2%*W[IDXRHSEBF2O((X!Y`-3X>D)\>O#\Q'E%O$%W&H&7+(;>[13D_>R
M.QQCJ>1S]">-83%\?_"<X&?,N]%![E<Q!3D[AP>@P3@8X[#YU\#%HOC[X:5B
MSJOB22,*=N$8+=*#D@X.2.1DCIW)/T-\19O)^//@OYQAKW0`03D_-(5`P!QD
MD8R>WX$`[?4(V/C[XG1CG[1\/;EB`!E3]DC55'<A@-V"<<<8)K\-/VF$DB^,
MNKDAU$^E>$)2LG+$2>&M+/`*@,K$;@.,XX.>O[LWD3'XF>-%/"R_#N\7:3][
M]U``2!DG!+#!((!Z"OQ&_:AME/Q<,T2,/.\)^!IOF)+-G0+!689!91\F"2>B
MX4<F@#@]!W1ZQ8,VX;+<$XQ@`E6#D[FY`)Q[X'3!/K$63K]G("&#)(,E=PYV
M,%/''3.21@`],$UYSI-L$U?3G(5E:",#=U&`H&6)W'@$#+=>3SP?4(8!_;5D
M%&T,&+`X'`*#//JIZX]..E`'9:K&XU'1S&Q*->6GRA3@?O$W<`9QV(!"]#SS
M7J6NH)M$7YONP#!!('?`Y(R<D')..<=37!:O`([K1PQ((O+;@J&R#(A#-C;D
M$8]B17I6N(JZ`.1M,&[Y>JX&,GKG#$\#)'J.*`/5?#*2-\+-'+`;1<,@"CY_
M^/*UWN23@`D?*1TYX'.?7_@JG_%O/&BH2I&J7))(!/"Z<P8DD#&`0.AY.*\H
M\'2++\,M/)8[([DG!7#,386['!&>"5&.">,GN:]6^"1+^"/'2!.#=7CAAG.1
M!9MCN3T]..5'0@`'>?"<O*GCZV=MVZT@;(^7@Q7JC&<=AD]>:T/#`QX+\9`.
M'9+ZUDR5'&(XAS@8)VJ>V/3CIF?!UR;WQI#)T>PM&88!)S]M'7&#U(YZ`"MC
MPAND\+>.(P<<V[#(X4^6PZ'@@%1CD\9YS0!Q'[0ZK/\`">&3`RL/@Z52.Y*W
MR$+^?'`[`X%?GGX74OJ]T,\A5Y&"1AB2<]AUQQCGDX`%?HU\<XUF^$;@AB8]
M+\+2G!QRNHSQ<=@55SV^O45^>7AC_D,7RA2I*`#.=N`'499LCH,@<Y)]#P`>
MA>&A_P`3;4`J[5_=[B",YV$#`(R00<<9]2.:[+0`/^$DF&=N+8\(,;@)5!RO
M3^0/WLUR?AA?^)Q?#<,,L8/"@`[3SM[8&`,8'/OFNMT1EC\32%0"&MW`;!XV
M2IR2.>?NCGECUR<T`=9IA7_A,]"?()%T^"<@*0,Y/!QC!Z<],FO3KMG7QWI;
M8&3XC@)P1@!KO#`8Z')/&,XZGI7E5LX'C+1&4DXNB",<`LOMUZ@^_<D5ZIJ;
MX\;V"X*A=?M,XZ@&^0'D9.2.O/!'.#F@#U?Q3A/'6E,",)J&ENW(SN(@POMU
MQUZ'WKM-RK\18U!;+V<JL.V/L0.,=<G;G`'8$YKB/%XV>,-,8'I>:,Q+`G(8
MVXX(X.??USVKMKD$?$2R<'`:)E`(X)-A(>#VX`SZ\8]@#F?&2!OA]K28SY4^
MJ@#/&5U&TD!)`QT[D8ZGH:^2M-D"ZE.AX+1%E`Y"X`)QC@^^2!GGBOK[Q,AE
M\$>)T."5NM9'/3I!*.XS]W/.`2.N:^1-*BSJD[D#'EA06X7GN!^!Z?4>M`'4
M>'V(N+X`?=/S`^I"@].A/WLX&,_45TVAG%Q>`@#YP>""!\@Z=^!G/'4GWKG-
M#`%S?@;NH(YR#PIR2!QC!/)[&NET,K]HO0YX+ACG('W6SC//;.1^N,@`W-&&
M_4+PK@XB1AQR!\^23U[Y)Z^^>GI'@91)?:Y"ZHRR6.2K8(W*DQ7G/)].X(!]
M<</X4"'6K\,I8?V?.<=.5CE(/OC`/IQ@XKO_``/@:UJ:?*H:Q8[<`$C;)T['
MJ>F>O6@#IO#``L=>C4`$G=T]86&?3MG&/I726`S9Z/SG_1[J+([_`+M^.N>B
MG`_05SOA8EH]>1L#A2%'0?NY0>N3R>O]3G'0Z:<Z?I!_NW%S'^8N`/R'Z=Z`
M/$M:7'B#4!C(:[G&2.F6)S]/QYY]JEM3E&')"S*N<\\NF`.<C!./ID?5_B4;
M=?ON,*9MW3LP!!XZ<G/OUZBHK'!RI!.9X\X'JR#@`]N?7CWH`V((]JR9/(=@
M.N3@GDX^@]!QQD]-ZU4!T_W4]<$$-U';KD>W8BLE%VQS\@_OF'7&,L<>@Z=O
M;J<FMZT4L\:`@,?LZCD<LP8'/3&#CK].:`-_3T4-)(0-PN(%''3+KDXSGT'M
M4TFUYY7&<%SMR>@!/;C'KCWZ5%$K11W2'AA/$,#&=P.&Y],@GVQSP:EB#`X(
M(.XGGKWYY&#W'3'\Z`+EHK)\P8C:I?@GD@#CKG!_+M5_[4)E9709X*.!Z$Y'
M7H1^5):Q$1S$K@>0VW<,9W9Y''0$54B/3VSV/O0!O67^I/\`OM_):*++_4G_
M`'V_DM%`'\%7[6E[K%K^U]^U:D.FP/$_[27QT:)S=M&S`_$_Q0?-E98I``X"
ME8E)=<,,=<>-^#;36[C4KR[MQ:V4D3Q,UNF+MI8PC%F>:5(2JJ`R!4!R6WY;
MBOO[]I#]EG]IS7/VG_VE=?T3]F[XZ:OH?B#X_?&?6-#US2_A!\0M3T?6=&U7
MXC^)+_2]9TS5+309[/4-.U*RFBO+"[LI9;6YM;B*X@D>"9&/EGA']D;]JFSO
MM0FF_9G_`&B+4S2PJQG^"WQ&C1P`Q<Q,?#Q4J0`I;./N@D`!2`>&:P->N$AD
M:\M8UN+NU5Q#8L\@03+@Q2O<LF[(RRM`V["X`&:]FNM.\0RZ5&J:HYMQ%&IB
MFMHWW%0J$H\:1J@0D;E^\"0?F!KN;G]E3]J.1K:%/V:?C\A:[@>1E^#7Q$,>
MQ9U9B[#P^8XP$PVYONE20`037L.H?LT_M+I;M;I^S]\<'00D)Y/PE\>R,S!Q
MEG,>@GDJ!M7:2>21G.0#S[]FNUU9/'IG;5KFWDMHP;5K);:)_-CT_4&0LTD,
MP;:RDDG(\O*E>A%+Q:^OP300#48#'=7'F.XMP74R31F20G?DS$!L-M`8<@#/
M/TK^S?\`LZ?M#:5XZN;CQ!\!?C'I%AY-P1/JOPO\;Z7:R.VG7T2>7/>Z);0[
M]SJ!AQF1PFTY7/-^+?V;/VB9]2MFM/@%\;;R'[7;L73X5^.G2&)'3=G;H#+C
M`.205``+'B@#[7^.UKXA_P"%!_"FTAU9M2LO^$@\0YAUC3H([A7MM`T2)"ES
M8-;@P,A!1'B+DMOWL0`/5/\`@GG<^)M/\,_$L0V>CS6T=]&39&6YM9+B[&BW
MCXBN3]HBMP"%#"2V<2-P&4<G>_:"^%7Q1U#X4?"W3/#GPY\;ZEJ%EJ6J2:E8
MZ7X3U_4KVP$^B:(JS7EM::?-+;!YTFMU::-$=HI(UY0J.Y_82^%OC_PAX;^)
M?_"8>"/&?AN\O-86>R@\1>&-<T26_B&C7,:26=OJ5E;/=@2D1%X$;#LL9.2`
M0#R7]BK6[H_'GQ>]QI,ULT_A76I)U\])O*0ZO8MF`+B6Y<NA^2.,R,O*J>E>
MZ_#_`,5>'=;U3]JG3[6X>)GLYIY;>YM;FUEVQ/JL,S2BXAB*R*V08I"LBKDA
M>#GD_P!DSX9_$7PS\;_$^J>(O`'C70M)U#P[J\<.I:WX3US3M.>=]1L)HH(K
MV[L8+?S759'AB#[G5247"DUOV_PJ\;3VO[7=M<^"_&,0\66-Q_PCDB^&]=CD
MUB=-2U"XA_L)TM4DU)UW1M&M@TK,C@J"&!H`_'/_`(*4V\<'QD7Y(D>:+P1<
M1",@LT$G@NP*@Y``+D;CEF.XAB"`*^./#F7W.6*,$C;`)#`")EXP,,=V>02%
M?;[5]W_MH_LZ_M"^)OB#HEWX7^"/QM\8:?-H?@F>:]L?AIXZ\0-87-KX+L;"
MYL9=1L](O$4VMS"\4]M/*)[6=1$PC;Y*\!\._LN_M-QR&2Z_9R^.EN5V9#_"
M'X@(I`XPHDT`;F8C<V`0"<_+G@`Q?!VQ;FZ$89A(YRQ!89`!)#<XRIVY;G(`
M.0#7K/@B!6URX)^ZLL0YSN'RR+@G*J6R2V.K-\HXYJYX:_9I_:(M[F]ED^`?
MQPM_GR"WPJ\=6XD7+'$8?0%60#ICJV00PVX/H_A/]GW]H*'4IGN/@5\8[:-I
MXU62X^&?C2!2`C;I"SZ*%*EN1@?(2`.HH`YN[0IXJT'`"(M^V/NN=X63*D,0
M%(X9`=PZD`G@^V^)61=+C+[G/V6)01@-EHTP7QM"]]W<<X'.*PIO@!\>O^$B
MT64?!CXMF)+T-+./ASXR=(`-_P"\DF_L8QHC="6<8!`/!P?9?$7P3^,-S8H(
MOA+\3I95@0.D/@+Q0RM($*CY4THOD#[WR]<Y')P`=+\-Y(4^`[`)^^.L6#D[
M]X55@U92&PN4"EE)((S@MDG@^V_L<R_\7/\`$)#C8='TE2B,<._]HJ-Q#,`Q
M`;"XSMP2>,XX+X=_"3XH6/PDN=,OOAE\0[2_?4+*9=/N/!OB*WOOE74UD/V2
M73(Y]@+Q$MLV@-'RH92WM/[+'P_\?>&_B;K-WKWP^\8Z%ILVC:>L.H:QX5UV
MPMIKI-31WC%S>:?##N2(;V$;[E3)D&T4`4/#1`^/WAMT<#/BSR_O9(82W2L&
MSD<@D-UQ@@9S7O?Q6<Q_&WP2<#:;KPVV4.UMWVM4W%_F.0,?(0!@\Y)Q7DN@
M>`/B!!\:="U6;P/XOBTN#Q8+B?4)/#>KQ:>EO]KDW7+WALOLT<`1@_G.ZHP.
M[.,&O=/BQX3\3ZA\4_!NJZ;X>UZ]LK6XT(W5Y8Z-J-U:6Z0ZD))OM%W;VKPQ
MB*,%G$CA8T(9RJG-`';7X*_%CQ$-N?.^'=ZQ`VD[DC3!Q]X9QCT/0=J_%_\`
M:@$$7Q(TR=Y0%E\%^"996(VH`ND1(%<NS]"H!;A<C``K]M-1T76G^*=_?IHN
MJ/I\O@:^L5U!;&Y:RDN6C+):_:%B,1G=@%2'?YC'HG2OR<_:1^"?Q4UOQSX9
MU'2/A7\1M<ME\$^%+>YFTCP=XGU&UM[VSLY89K:=K33)X8KF%E'G0R%70L@D
M0<4`?-VG7ME_:EHJ2([+")<0JTI"Y0<K$-VW<>"1\A)'&:]$BU-#K-HL5M=2
ME8G^54>`C!0XW2^6GS8SC)Z\'(%6M.^"?QG768C+\'?B>D`@C4RO\/O%BQ[A
M*A.7.CJN5`/!8#:,J.<UZ#9?"#XO#789&^%'Q%2V6,JTS^!_%"J"63D-_9>W
MY0,`$CY0<'/-`%/5=1GGO-(":?,K+=6J_P"DO`B>873`9UD<[1G.]5([C.17
M?:W?:B^AK&UA%&%C.66Z1B0-P(`:)68X.?NX`QU.:EU+X3_%234-,,?PW^($
MD*7MN9'7PAXAVQ1APQ=V&G':B@8;/`'7W]`UCX8?$632Q#'X!\:R.(FRL7A;
M79)-Q!.,+8%L9`P`,DX'(Q0!I>$-0OU^&]A"EK'.J2[F,5R$=%-I"%#"2%4.
M0O.QR2W!&`"?7O@7K-TGA'Q[$]C$\8FN9(UCG476XP6P"HK+L:(8!W&8$\X0
M]:YOPEX#\;6W@*WM+CP9XKMKL/&7M9?#NKPW1"VBIAH'LDEQD;2=@^8E?X<5
MZ9\'/!?B72_#?C(ZEX8US3KZ[GG2UAOM'U&TGN(7MX,>1%<6L;3+O4JNQ6`(
M(!X(H`VO@IJ+SZWXQ,MG<V\9TZV9]T<4BH$DNN&$,C/O*M@!$8MSG!Q6[X$U
M&UGT/X@HCL([>.!V:2&6)0K)<$_ZY%&0%Z=2>B\5)\)O#^OZ7K?BB74="U>P
MBN=/ME@ENM,O+:.=TFG/EPR3P*KN%8%DC+'&,C!%:W@KP]J\%KX]@O-'U2W2
M_M8A;1W>G74:W<GDWJD0":!5G*ET!$6\C<IQD@4`<A\756Y^#%S,A#_\2+1W
M4DC)2/6D'')`P78'N"<9'-?G;X6#MJ][D`\(,MC&/WAP<?W3TZ'ZXK]'?'/A
M37[OX0RZ58Z)K,M^/#:Q'2[73KV6X>>#Q!!.L*644#3M</"TD@C$9D,2[]NQ
M37P]X;^%WQ*M]3O))OAUX[A5D&R27PEK\:,?GX#OIRJW7D`DX(Z$#`!H>%8X
MEUG421N8JN,<J"58<C`/'7&1G!QCG/3:)Y;^))L$#,!!Z;1B52`1@9XY'?/.
M#4WASX=?$"#4KUI_`OC*".0(8Y)/#6M(I^5\@.]B!D$XZYP>0<UT>C>`O'4.
MNM++X*\5I"T9#2R>'-81"1*A'[PV2H&V@]\=SGDT`0PH1XLTC`5<7B@8)X_=
MMPPSG)`/3`QZ<5ZEK(9/&5FQ`4C7[,LAY7(O8^N#R">3UZG/MS*^"?&:>(=,
MN1X3\4^5'=*TDPT#5-B##99W^R;`A!QEB`!QGGGT?7_"_B5_$MO<P^'==G@7
M5K29Y8=(OY(_+6[C9W,BV[($"C<S9P`"Q(%`':>.0W_"2Z<<J!YNCDXZ'#P@
M#CG(YZ$X]:[?4`R?$#1V[/'QVZV<ZGC^O<UROC?2-;N-<L;FUT;4[N)7TTL]
MMI]W,B+$8]VYHXG"E.=^2-@!)Z5VNIZ??OXTT:\CL;U[9(X1+<I;3O!%^[G5
MA+*L9C0_,`=[+C(SR10!AZY%GPIXN4\E;O62,#H&LM^.1QC&#U[<^GQUIC(N
MHW!9@K-$,`GC.#Z\8.>`/?J,5]MZAIFHS:+XNMDL;QI+BZOVME%K,6N%ETZ5
M%,"[,RAGPBM'NW.54'<0*^1M/\!>+DO96D\)^)@ACR'DT'5>6(.55FM,8!SQ
MU`Q@9H`?HMU$ES>(SIG=U8\8VCD$]A6_I=U"MY=C>O)!W`$J1ANZ@JN#D>O3
MC)I^D^#?%,5U=,WA7Q!&K$;&DT345#`#!PS6P!/\^.:WM,\*>)([NY+^'-<1
M&"[6;1[]5(&\8^:V`8@8X&>H]:`+?ABYCCUNY4N<RZ?<[2(V?CR91@X!('/4
MG`]!CCO_``9=VZ>(+I)9`K2V+K&<<;@6R#[#..>Y(/K6'X=\.:W!K<DLNB:M
M!"UE<*)9=-O8DW-!(HC+M"J[BS`!<Y/8=JZ[PGHVJ6WB.2>YTN_@A-I*@GN+
M*XCBW%EVJ)'C";B-W&XDCM0!M>%)XVN-;@$BEC;B11E22%64$@=P._/3UKH=
M)DSINF\[MFIO'SV#229SCCC=D=*QO#FEW<%YK#3Z?<1++;E8WEMI8TE):3Y4
M+HH<D$'Y>0,9QFM'3+"Z@TR&/[->0R+K2S.GE2*QB+KF0HR@^6%)^?&%P3G&
M<`'F7BVW;^W[K:ZA2(">N2WE(?R[=/7GK5*T@PP;S&SN5\HO1D.?0<9Z^W;O
M75>(M)U>;6I7BTV^GC=4_?0V-R\?"A<;TC9=P"_WN>.,8JG9Z3JYE8/I.IQH
MIR";"Y4'CH"T0!Y`Z9S]:`&PPDAE+.07WG/K[#Z]NG?DUT6GL+:42-$)B-I4
M2,V`RXVGY2.1T&<XSR.]06VF:F6</IU\@4_*3:3@D8)X)C&><#(]O3-:5M8:
MAN</978`("LUK,/J>4P?KU]Z`-0W<,_F&2S4-)@EXY'4EAT;&<<'T'KD<YJQ
M:F%3F8S`CIL"D=QR&Y]>F/Y56AM+S!#6EP"#P3!(N00#W4=.GOBKB6UUA2;:
M?((R/*DS]?NY_$]Z`.@CF@G4K'("3$4"M\K<YP"2,$\]/<UF!-KD8V[2003G
M'7OWY_G2+;3*#^YE&TC'[ML]NF`?T)&/QJ5(IR26BFR>NZ-\\9ZG'\^OKZ@&
;O:`"$>[$_C@44MLK+$`P*G)X((/0=C10!__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>36
<FILENAME>j08110324_aa025.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 j08110324_aa025.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`*0"0`P$1``(1`0,1`?_$`:(````&`@,!````````
M``````<(!@4$"0,*`@$`"P$```8#`0$!````````````!@4$`P<""`$)``H+
M$``"`0,$`0,#`@,#`P(&"74!`@,$$042!B$'$R(`"#$403(C%0E10A9A)#,7
M4G&!&&*1)4.AL?`F-'(*&<'1-2?A4S:"\9*B1%1S148W1V,H5597&K+"TN+R
M9(-TDX1EH[/#T^,I.&;S=2HY.DA)2EA96F=H:6IV=WAY>H6&AXB)BI25EI>8
MF9JDI::GJ*FJM+6VM[BYNL3%QL?(R<K4U=;7V-G:Y.7FY^CIZO3U]O?X^?H1
M``(!`P($!`,%!`0$!@8%;0$"`Q$$(1(%,08`(A-!40<R811Q"$*!(Y$54J%B
M%C,)L23!T4-R\!?A@C0EDE,88T3QHK(F-1E4-D5D)PIS@Y-&=,+2XO)59756
M-X2%H[/#T^/S*1J4I+3$U.3TE:6UQ=7E]2A'5V8X=H:6IK;&UN;V9W>'EZ>W
MQ]?G]TA8:'B(F*BXR-CH^#E)66EYB9FIN<G9Z?DJ.DI::GJ*FJJZRMKJ^O_:
M``P#`0`"$0,1`#\`W]/?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^
MZ]U[W[KW7O?NO=>]^Z]U[W[KW6CO_-U^1_S#^>O\PGLGX#?$/M[N.GZSZ3RF
MS>L]^;9^,78FQ]BIU_NQ]LX[LG<OR0^2^Z<[!7KE^I>O=U31[>J\,F6VZM%4
MX.I6>9*ZHI:>N]U[JG39/PD_G3_&S%3?*_+_`#,[]WI2_'S:6Q<SUOCOC%WW
MN;MCL[)_&C?N]:BG;NS9FRMXTL^WNP/CK@<I@TFR6U!'45&4T04U71T./C>N
MI_=>ZWL/Y+/SUJOYA'P0ZU[9WGO?8N\N\=I56=ZP[YEV3D,`\1[`V3EZW#+N
MBOV[@3'#M!>R,#34FXJ2@>GI?%29)`D2*`J^Z]U9/VEV9LWICK??7;?8N1KL
M/L'K;:N;WMO3,8W;NY-V5F'VOMN@GRN=RR;=V?B,]N;*QXS&TTD\L=%1U$PB
MC9@A`/OW7NJG?A5_/U_EK?/3NQ/CUTAVMN3'=J9AZ]^O]N]E;+R&QI.UL?B]
MNQ[IKLGL!JV>IDJXH<)YIOML@F.R+K25&FF(@D(]U[JY[W[KW6FM_P`*6D^<
MW\O?I&B^;OQ7_F7_`"_VY1]@_(ZEV3NSHO<VX.N<AUUM#%[_`,!O7<^'AZAD
MP76>`SV`PNU:S:HHTH,O5YB6:DJ0_P!XKT^BH]U[H-O^$TN3^?'\S'K[L3Y5
M_*'^9S\Q:C;G3/?&V=D[3ZCV-N3KC%;=WI6;9P^WM][FI>UIMR]7;KK,QLW<
M-'GZ/'FBQ4V*K#%]R35(6B(]U[J_#^<=T#\FM^_&/LKO'XH_-[O[XH=L?'_J
M/L7>^!VQU[6[/;JGM&?`8H[H?$]CXK+;5K=S19&IAP;45!DZ'*P1XT54DDE'
M6<1^_=>Z^>9\$_\`A3?_`#*?CI\E=@]B?(OY`]B?*+HQ*S^#=H=1[[J\-+'E
M-J91XX:_+;6R%/AZ>JPN\L``*O'SJWBDEB\$ZO!+(A]U[KZJ7Q][^ZD^4O3'
M7?R`Z+WCC=^]4]I;<I-S[/W/BV815E#4ZXIZ2LII0M3C,SB:Z&6DKJ.=4J*.
ML@EAE59$91[KW6JM_P`*4X_GK\,-J;4^8/Q'_F-_)_K[%=M=Y[1ZPW5T'7Y?
M9%3UELS^\V`&,P^3ZJ>AV5CL_A*!,E@EEKJ#)564:>>NFGCJ80H@;W7NMB#X
M"?&/M[XU]14])WE\P/D)\O>S-[X?9^:W?N+N_*;)J<%M/<=+AI%S6-ZIP^T]
MF[<KMO;5R%96DR0Y*OS51(U/&XG2[*?=>ZUK_P"<%_PI*[9VG\CO^&W?Y1VS
MZ#MSY2Y'=U%UCN#N2##X_?N.P79.1J$HFZ]ZBVC5QU6W-V;MP58_CRF6RPJ,
M+C)HI86IIS%-+3^Z]T+?4O\`(?\`YL_:&SO](7R__GZ?.G8'>.\<?!E<KU]\
M;NR.P\%U?UYF*N/S2X=1A>SME[;W&M$T@29,1A,#1I(K)`\T029O=>ZK4_F9
M=D?\*#?Y.G6V)ZX[(^:-3\L?ACVOOGKW:>%^7R[;S6T^_NIJO&;LQ6XJO;&X
M=Y;8W#3=A[3RF]Z#$2TCU>2S>Z:7)8[ST]/54T\LD'OW7NM^?9>9_O%L[:>X
M/(DO\=VS@<SY8A*L4G\4Q=+6^2-9V:8(_GN`Y+6/)O[]U[I0S2QP12SS.L<,
M,;RRR,;+''&I=W8_A54$GW[KW7R=O@/V=C^VOYK7S!@S'7U7V/D_FWC?E'T9
MLS+93M_*=-Q5O:>^.SJ7?.V>PDWMCZ:+N3:6VMG4.QWFKQMBFRV9D:):66*9
M:MH??NO=7K?*_P"4F^MO=7?(/M7O_P"+'R8V'@OCI\).U/Y7O6X[5^1-'23[
MS^366H-V=?[B[)V=UQ@]QY_8'?-)NW;F_3!5YROH9_L1@X_L:NMR,\4=![KW
M53?_``DU^04GQK_FK9GH_<^3W)U[LOY2]6;LZ\Q6T-]468QE=NGM'KG*R[BV
ML]2M+MJ3&T^6P%-@MU4*QU<U##%4U<E,)Y*H)#+[KW7U%JBG@JX)J6JABJ::
MIBDIZBGJ(TF@J()D:.:&:&16CEBEC8JRL"&!((M[]U[K4K[N_P"$HG6><^0F
MYOD/\5/F_P!T?$3*4N6VWO3IC8.Q-A;.GV;T]OS9=3D<ELZHQK;=R&QJG-[6
MVQE,@[4,%5&V81)J@U.3K)JB65O=>ZM#_EK?/WNOL7M+M;^7E\_]I[;ZY_F'
M?&;;6&W1FLELQZG_`$5?*WI&OFIL/A_DUTH]9C\5,F'K\M-%39['?;Q+B\E4
MHBQT\AJ<=C?=>ZK._P"%E/\`VZ:V=_XN#U%_[P7;_OW7N@E_X13?]N[/DG_X
MN'G/_?/=3>_=>ZV=_G5_V17\L_\`Q7+N;_WWV?\`?NO=?-KE_D3U'RI_D.?&
M#^8?\3]I5.0^2'6^W^X6[UZWP%,9\AW;UMMGN/L"*+=6W\;"!)D.S.OL+`;P
M1AZK-8B$4\0EJJ6CIY?=>Z"7_A.U_/)S_P#+$[HBZ/[PSV3R?P@[GW+`^]<>
MZU&3;IC>^1CI\93=N;7HQ.&I<=(L4$6Y*:G1VK<?`DRQR5%+`I]U[K;I_P"%
M66X<#N[^6W\=MU[5S6*W)M?<_P`L_C[N';>XL%7TN5PF>P.:BK\EA\UA\I0R
MST62Q64Q]3'/3U$+O%-#(KHQ4@^_=>ZMB_FX_+?*?"'^5U\D_D+MJNBQV^-N
M=0Q[>ZZK)X&J8*;L#?$5%M+:E3+$DD3%:/)Y=9A9AZHQR/J/=>ZT6_\`A''T
M-B^Y_P"9#W#W]O=9]P9CH3I?+;HPN1S*OE99]]]G[AAVQ+FJJLK7EDDS28J;
M(S+4.7F$KE[ZCJ'NO=?3Q]^Z]T4OYU?$38WSP^)O=WQ/["KCA,!W'LVLVY#N
MF'$4F<R&R\\LD-=MW>>'QU;/20SY;;69I8:J%?-"7,90NJL3[]U[HPG7FU'V
M'L#8VQY,K-GI-F;/VSM23.5,`I:C,OMW"T6(?*U%,LU0M/-D6H_,\8DD",Y&
MIK7/NO=*]E5U9'4,C`JRL`RLK"S*RFX((/(]^Z]U\3OY54V__CG\X_E#%D.R
M<IM3LGK/Y9[XK,=C]QY>HW5OG=&6P._-V4M;)O/?>WX<#DXHJ*?%T\<T.2;'
M15M/DGGIT">1V]U[H??F=\\MU_,'$[9P'7/Q4^/WP)ZMVDF3W7V5A/CAB<%@
M<1\@,U19*2@P.Z>PME;<3:&S>ZZG:-!YEIYWP^1J46;+U9J&IY&I8/=>Z([\
M9_D5V3\-N_.DOECU5%B5W1T=O>DW9M>BW6-Q4%!E\G]IC:_/[`JL#@MVS9:F
MV3DJ'<M4L-3KQ8R5)/.QD\UZ=/=>ZV5_E[_PIP^1G\R/"="_'O!]-YKX1[*S
MVX*[=?9/9/7GR:W_`(;,=@4^WMI;TPLDF-WMMS:W553LC8.W-PN^7EI*S(UF
M/_B.(I?XI7+0053-[KW5[/\`PE^_FS=T?)BG[7^`'S"[#C[.[[Z%VSC.Q>HN
MTZK>^"[+S?:'1U748W%Y*DW%V+MK)YS#;[W#U]D\WBU;+M73UU?3998ZF]30
MU,K^Z]T=[^>Q0M\;MX_R[?YI>RHI,7OCXC?+WKKJGMO)XZGACJ-V?$GY-Y$]
M;]M;.SDR4[RY..ER5;0OADJ3)3XVNR%14PHM0X;W[KW15/\`A93_`-NFMG?^
M+@]1?^\%V_[]U[H)?^$4W_;NSY)_^+AYS_WSW4WOW7NMG?YU?]D5_+/_`,5R
M[F_]]]G_`'[KW54O_"7H!OY)7Q#5@"#+W0""+@@]W]A`@@\$$>_=>ZUA_P#A
M47_(8EZ.W!NK^9'\0-FZNFMVY>7+?)[K';E&H'5F[,Q4:INVMN8>BI41.O-S
M9"0G.)&2V*R<XJM)HYYWH_=>ZU]=A_S0.Z=Y?!G8'\M#LW[K?/7.S_DCU3VC
MT=NS(Y9VR_5]#BLY51[BZYBII::0Y+9N9GS35M(AG5L;5(ZQ*8IW">Z]U](7
M_A21UMN;LW^2+\GZ':U,E54;0VOUOV3EXV8ADVSL'=FV]P[BJ8PH8N])BZ22
M6WT"H2;`$^_=>ZU2O^$57;^V]J?-[Y+]09BNI:3-=M]`463VC32(_P!UE,CU
MYNVER>7I*>3S"-4@P65FJ'4QLQ$5P0`0?=>Z^E'F\-B]QX;+[>S='%D<+GL9
M7X;+X^<N(:[%Y2EEH:^CF,;)((JFDG=&TL#9N"#[]U[KY7G_``J(^(W6/\O+
MYK]6;8^)E?OSJOKGMCI&CWS7=<X_LCL+,;?V_N+&[GS.W*ZIP%1N?=>=RU)2
M9>"BBE:D6=:2G=;01QH=/OW7NM]/^2)\1^BOC;\"/CWO#JS:^3H=[]Y=+]8;
M\[=WIN#=NZ]W;CWWNROVU3UL^5R53N3,Y*EQR++6R".EQ\-'1Q*;)"OOW7NK
M@_?NO=?(P_G19W!=I?/_`.;'R:Z[V-UW6]593Y"YK;^$VGO&I[,BVUV?F>F5
MVYMS?W8NTLSC,YM?9F:W;NZNH!597;QKUW)%A*U:FCI32M+-#[KW5.&)W-08
MJJ^PVCU3U5E=X;DW#T_G-D4>8=^U=PXW-4]/4U-908K%TBU'5>5P&^Z[)PPY
MO;.Y<?73T;QT]-%!!)'5F3W7NGWLWK/L#KONCKW%]Q;V;;=5N/#['K6SE/0;
MYBFZTVAF8_X3CMO9/:6]Z38.[=LT&T<7`]*,64I:>/'0C[)Y:4PN_NO=+NLS
MM%4=T_&S$;"VQB-_;I:@ZTJI]N=?[%QVZ,-EZGL5VR\>Q<?UMN+;7<$>Y]_;
M4V7N+&;:BK),?DJU*O#17IJZLA2ID]U[JVW^3+WEF.NO^%!'Q)_AL>0P>'K-
MR;CZ(S>WJJ@HH=Q_PW>G5F\,94[6W_DDV-UCN;<^8VEOW)PZJC<&.CS5&,53
M4M0"E%'`ONO=;I?_``JAR])GOY:&W/C7CY1-V+\POEM\:.@>LL13J*O*UVY:
M[?L&\VJJ3%K+#)5TU)3[0\$C,\4*SU<$32H\T0;W7NJLO^%@'\PKXB=@?$;;
M7PIZV[IV?V)\C]N_*O`9WL+KS9]><U6]98WK?:?9.!W/%ORLHXI<;M_/0;CS
M]%1QXR>9*Z0R22B/QPNWOW7N@E_X1Y_S"?B-TGT1W9\1NYNZ-G=5]T]@?)/!
M;OZOV_OG)QX&'LU-^;3VAL'&X#9>0JU2@RFZ*?<>VDB?'^5:J45\#0QR`2F/
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M:*IHZAU/Y%[BQ`/OW7NOE_\`SC_E1?/;_A/S\W]N?.+XC[7W=VA\9NNM^2;Y
MZY[4VUCLMN6CV=M:IEF_BO57R$QN)-7D\#B'P]3)BY<K7+_"<I!)&ZU`K"U/
M'[KW6V_\4?\`A5S_`"F.]NKL3N7NGM[+?%3M&#'4S;QZN[(V+V%N.&CRBPQB
MOEVCO7K_`&CNC;NZ,"U66%*TCT.4>,:I:&'W[KW6H]_/K^3&V/YZW\P'IW"?
MRN^NN\OE`>M.HGZ]KJ_:W4>ZJ2'.UM3O+)YE]QXK&Y"F@W)A-E4$&3C2JR>X
M*#"04[AF>T0\I]U[KZ1OP.ZSWKTS\+OBWU/V/A_[O;]Z[Z,ZXVCO#!??8[)_
MPC<.$VS04.5QQR&(JZ_%UC4E7$R&2GFEA8BZNPL??NO=:6?\^S^9AW-MKYM=
MW=&YCYL][_&7J#JU^A=O[.ZT^-V\,=UKOS'9/+[C&8W1W;N7/XC)XCL_>]9C
ML5A*ZHH-NT$1Q7V^1P]54UL=C$?=>ZTVOD;WKLS);G['V?T7GMZ;BZ2SRXG'
M[0J>S<)LBGWQ)MBAR%=N"AA[0J<3M.ED[$[+VUE,K4T]#NZHG7*4M#/44E,\
M='4-`/=>ZM/[&^('P[ZOV+1=2X@5>![2V1O;(;.W;\D\[2[:S^PNT]Z5E%N`
M[%Q\N5WOW;U]MKI;K;/S=;Y3)OF%H<WCJO:N?I1/#63(K2^Z]U4;WO\`(6F[
M-2FHJ78.P-I9J@P4&S,QE.MMJ[?Z\VUF<;BO[OTU35?W,V+4#8$V4W1E]HQ;
M@KLG04E%)-E<I71DST28]*7W7NK%]I?$GX-]=]3[4W;O[M/<L/8.*V#G^S>U
M\CO#;4>>VWDZ"?X\=']F]:]?=([+I,.N"GJ>V-S?(K^%QY?=&9C>IH-J25N,
M?#5]6AH?=>Z+G_+<^5?8/0_SA^._R1P_Q]WK\I9/CMO'>O;>7ZJV9E-WMN7>
MV;W50Y;"5>_,_GY<#VQ+BLOC*[,X99*Q,7X:F/#T<,A6JEDK6]U[K?"^"727
MS_\`YQ?\P#J'^:)_,=Z)S'Q,^+7Q`&3RWP>^(.ZX,S3[CR79>;%%/3]K;EH=
MUX#;^Y,G!A9:*CRBYZIQN#&4R.,P_P##J04--5-+[KW5J/=7_,V^QO\`P[\W
M_P"YLOOW7NFCK+_F8VP__#PVY_[MZ3W[KW1N/G'_`,7#K'_J#WG_`-;MJ>_=
M>Z"GXD_\SDQG_:GSG_N!)[]U[JUWW[KW5>W\T'_LD7<W_B0.G_\`WYNV/?NO
M='_H?^`5'_U"T_\`UJ3W[KW7.J_X#5'_`"PE_P"M;>_=>Z^._P#SL/\`LOFO
M_P#$A9S_`-[!/?NO=?1?_P"$_?\`V0CC/_#MR/\`[CT_OW7NKR/?NO=5,_++
M_F=N<_[4FV__`'7^_=>Z+8_Z&_X*W^]'W[KW0Y[P_P"/(K_^UWLO_P!XNF]^
MZ]T!WOW7NA/R/_'M57_:FVA_[SVV_?NO=&F^#?\`P)[/_P"6&R_^MF[/?NO=
(6!>_=>Z__]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
