ISC Advisors Inc

Fees and Compensation).

ISCA's affiliated company, Investment Sales Corporation, is a pension consulting and insurance
agency. When our Advisors recommend products offered by our affiliated insurance company, this
increases the overall compensation received by the affiliated company. This creates a conflict of
interest in that it incentivizes us to recommend the use of Investment Sales Corporation. You are not
obligated to use the affiliated company for financial or insurance products and services.

The principals of ISCA also act as brokers or agents of Institutional Securities Corporation, affiliated
broker dealer, in effecting securities transactions for compensation from the Firm's clients. The
activities and compensation of any related person would be fully disclosed to the client. Any such
activities must be approved by ISCA before being entered into by any related persons. Information
regarding advisory fees is disclosed in the advisory agreement between the client and ISCA.

ISCA addresses this inherent conflict of interest in a couple of ways. First, ISCA requires that Advisors
acting in their capacities of registered representatives with Institutional Securities Corporation
purchase securities with the commission or markup waived; however, a clearing broker ticket charge
will still apply. Second, Client accounts are reviewed periodically for inconsistencies with investment
objectives, accuracy of fee billing and deduction in accordance with the fee schedule on file, excessive
commissions or markups and other determining factors deemed appropriate by supervisory personnel.

Item 7 Types of Clients
ISCA provides portfolio management services to individuals, high net worth individuals, corporate
pension and profit-sharing plans, charitable institutions, foundations, endowments, and other U.S. and
international institutions.