Charles J Means & Co LLC

Fees and Compensation

     Description
           The Firm bases its fees on a percentage of assets under management according to
           the following fee schedule:

                    1.15% of the first $1 million under management
                    .85% of the second $1 million under management
                     .55% of assets under management thereafter

            The Fee schedule is an annual schedule, but fees are collected in arrears on a
            quarterly basis using the market value of assets as of the last day of the billing
            period. If warranted, fees may be prorated to reflect large additions to or
            withdrawals from accounts during the quarter.

            Fees are Negotiable.

     Fee Billing
            Investment management fees are billed quarterly, in arrears, meaning that we
            invoice you after the three-month billing period has ended. Fees are usually
            deducted from a designated client account to facilitate billing. The client must
            consent in advance to direct debiting of fees from their investment account.

     Other Fees
           Custodians may charge transaction fees on purchases or sales of certain securities,
           mutual funds and exchange-traded funds. These transaction charges are usually
           small and incidental to the purchase or sale of a security. The selection of the
           security is more important than the nominal fee that the custodian charges to buy
           or sell the security.

            The Firm, it its sole discretion, may charge a lesser investment advisory fee based
            upon certain criteria (e.g., historical relationship, type of assets, anticipated future
            earning capacity, anticipated future additional assets, dollar amounts of assets to be
            managed, related accounts, account composition, negotiations with clients, etc.).

      Expense Ratios
            Mutual funds generally charge a management fee for their services as investment
            managers. The management fee is called an expense ratio. For example, an
            expense ratio of 0.50 means that the mutual fund company charges 0.5% for their
            services. These fees are in addition to the fees paid by you to the Firm.

             Performance figures quoted by mutual fund companies in various publications are
             after their fees have been deducted.

      Past Due Accounts and Termination of Agreement
            Past due accounts are handled on an individual basis by Charles J. Means. Any
            termination of an Investment Advisory Agreement as a result of past due
            accounts will be done in accordance with the terms of the Investment Advisory
            Agreement.

Types of Clients

      Description
            The Firm generally provides investment advice to individuals, pension and profit
            sharing plans, trusts, estates, and charitable organizations. Client relationships vary
            in size and length of service.

      Account Minimums
           The Firm does not require a minimum account size.

Methods of Analysis, Investment Strategies and Risk of Loss