TMF GROUP GLOBAL INDEPENDENT ADMINISTRATORS

On May 19, 2008, TMF FundServices concluded the first period under SAS70 Type II with great success. The auditor provided an unqualified statement of assurance regarding the major control activities within the business of TMF FundServices: fund administration services and investor relations processing services, based on the internationally recognized Statement on Auditing Standard 70 (SAS70), issued by the American Institute of Certified Public Accountants (AICPA).

The SAS70 Type II report demonstrates that professionals have rigorous controls and safeguards when servicing its clients including a statement of assurance of an independent auditor about the effectiveness of these controls in order to conclude whether control objectives are met. TMF's SAS70-II report ensures that TMF's internal controls and procedures meet the highest standards.