National Financial Accounts

December 12, 2008
Dear Client,
In light of recent turmoil in the securities markets, we are writing to reassure you that the assets you've invested through National Securities Corporation are protected.

National Securities Corporation is a full service brokerage firm with a diverse base of domestic and international clients. Founded in 1947, National Securities conducts business through a network of independent representatives, each of whom are free to recommend investments solely in your best interests. We provide our clients with a broad range of securities brokerage and financial services, without pressuring our independent representatives to sell.

We take our role as your broker/dealer very seriously and are fully committed to upholding your trust.

As part of our pledge, National Securities customers' accounts are held at National Financial Services LLC, a Fidelity Investments ® company, member NYSE/SIPC. In this role, National Financial Services provides trade execution, clearing and settlement, and acts as custodian for your account assets. The strength and reputation of Fidelity is one of the many reasons we chose to work with National Financial Services. As a privately-held organization, Fidelity is a well-capitalized, conservative company, and remains one of the nation's largest brokerage, mutual fund, and retirement companies, as well as a leading human resources and benefits outsourcing firm.

National Securities and National Financial Services are members of the Securities Investor Protection Corporation ("SIPC"), which protects your assets up to $500,000 ($100,000 cash). National Financial Services supplemented your SIPC coverage through the Customer Asset Protection Company (CAPCO), and effective December 10, 2008, NFS has also procured excess SIPC coverage from Lloyds of London. providing unlimited protection for all assets held in client accounts. Additional information about the protection of your assets can be found under our "Client Resources" tab at www.nationalsecurities.com.

During these unprecedented times, National Securities and its representatives will remain focused on your best interests, and the protection of your investments. Thank you for your continued trust.

Sincerely,

NATIONAL SECURITIES CORPORATION