Disclaimer

Rice Advisory, LLC (“RA”) is not a dealer, agent, issuer or investment adviser under any federal or state rules or regulations. RA was incorporated in May 2010 to operate as an advisor and consultant to municipalities, municipal authorities and corporate entities. In certain cases RA may recommend the issuance of debt securities to its clients and will assist with the associated credit analysis, transactional structuring, due diligence, documentation, ratings and other services. RA also provides consulting services to municipalities, municipal authorities and certain corporate entities with respect to debt management and certain operational issues. In no event, however does RA serve as a broker or dealer (or agent thereof) of securities or investments of any type, and RA provides no investment advice whatsoever to customers of any description. RA does not buy or sell securities nor does it solicit offers to buy or sell securities. In the event an issue of securities is a part of a transaction contemplated by an RA client, a qualified broker-dealer or other entity authorized to perform such duties is engaged for all activities related to buying or selling of securities or providing investment advice. RA registered with the U.S. Securities and Exchange Commission on September 7, 2010 (Municipal Advisor Registration No. 866-00040-00).