Securities America, Inc. Mutual Fund Class B and C Shares

Excluded Purchases

 

The following purchases may be excluded:

  • Purchases of Class B and Class C shares for which clients have previously settled and signed releases of claims against SAI;

  • Purchases of Class B and Class C shares which were later cancelled at no cost to the client, or were cost-free exchanges;

  • Purchases of Class B shares, which, when aggregated with other Class B share purchases at the Firm by the same client household in the same fund family during the relevant time period, total less than $100,000, and involved a mutual fund that imposed a Class A share initial sales charge exceeding 4.00 percent for purchase amounts less than $100,000;

  • Purchases of Class B shares, which, when aggregated with other Class B share purchases at the Firm by the same client household in the same fund family during the relevant time period, total less than $100,000, and where the client (1) entered into a systematic withdrawal plan at the time of the Class B share purchase, and immediately began receiving systematic withdrawals from the Class B share purchase without incurring CDSCs, or (2) chose not to reinvest all capital gains and dividends from the Class B share purchase;

  • Purchases of Class B shares, which, assuming a 5.00 percent annual rate of return and considering all expenses, are projected to have a higher redemption value, determined as of the end of each year following the purchase date, in comparison to Class A shares in two or more years during the period beginning June 28, 2007 and ending on the date the Class B shares are scheduled to automatically convert to Class A shares under the terms of the fund prospectuses in effect at the time of the purchase;

  • Purchases of Class B shares, which, assuming a 5.00 percent annual rate of return and considering all expenses, are projected, as of the date on which the Class B shares are scheduled to automatically convert to Class A shares, to have a value within $100 of the projected value of Class A shares had the clients purchased Class A shares instead of Class B shares;

  • Purchases of Class B and Class C shares where the gross principal amount invested was $250 or less;

  • Purchases of Class B shares which, assuming Class A shares were purchased instead, would not be eligible for a breakpoint at $100,000 or more in the mutual funds listed in

  • Schedule A" of the Letter of Acceptance, Waiver and Consent; and

  • Purchases of Class B shares which, assuming Class A shares were purchased instead, would not be eligible for a breakpoint at $250,000 or more in the mutual funds listed in

  • Schedule B" of the Letter of Acceptance, Waiver and Consent.