FOR INSTITUTIONAL USE ONLY. NOT INTENDED FOR DISTRIBUTION TO THE GENERAL PUBLIC.


DISCLAIMER: Although the information and the underlying data included in this report has been obtained from sources Prime Institutional Group LLP believes to be reliable, we do not guarantee the underlying data’s accuracy or any computations based thereon. All opinions and estimates included in this report are subject tochange without notice. This report is for informative purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.The actual results achieved during the projection period may vary from the projections contained herein. This material is furnished on the understanding that PrimeInstitutional Group LLP is not undertaking to manage money or act as fiduciary with respect to your account or any of your managed or fiduciary accounts and thatour services do not serve as a primary basis for any investment decisions made with respect to such accounts. This material provides information and/or alternativeswe believe to be appropriate for consideration. The decision whether or not to adopt any strategy or engage in any transaction is strictly your responsibility.


COLLATERALIZED MORTGAGE OBLIGATION (CMO) DISCLOSURE STATEMENT: Should this communication contain any information on a Collateralized Mortgage Obligation(CMO) product, the yield and average life shown may consider prepayment assumptions that may or may not be met. Changes in payments may significantly affect yieldand average life. Please contact your representative for information on CMOs and how they react to different market conditions.While some CMO tranches are specifically designed to minimize the effects of variable prepayment rates, the average life of the security is always a best estimate,contingent on how closely the actual prepayment speeds of the underlying mortgage loans match the assumptions.If interest rates rise and prepayment speeds are slower, investors may find their principal committed for a longer period of time. (“extension risk”).


OFFERING DISCLAIMER: Should this communication contain an offering of any security and/or product, the offer is subject to prior sale and price change.


YIELD DISCLAIMER: Yield calculation shown in the Yield Analysis reports is based on current month yield converted to annualized yield and does not take intoconsideration any amortization or depreciation schedules that you may be utilizing in your accounting. Further, it does not take into account any market valuefluctuations that may be calculated for Total Return Analysis.


AGENCY GUARANTEES:Ginnie Mae guarantees the timely payment of face-value principal and interest on all of its mortgage securities, and its guarantee is backedby the “full faith and credit” of the U.S. Government. Fannie Mae guarantees timely payment of both face-value principal and interest on its mortgage securities whether or not the payments have been collected fromthe borrowers. Freddie Mac also guarantees timely payment of both principal and interest on its CMOs.


This report is provided for information purposes and should not be construed as a solicitation or offer from Prime Institutional Group, LLP to buy or sell any securities or related financial instruments or to make an investment in any jurisdiction. Past performance is no guarantee of future results.


No part of this report may be reproduced in any form, or referred to in any other publication, without express written permission of Prime Institutional Group, LLP. Securities Offered through Crescent Securities Group, Inc. Member FINRA, SIPC


Copyright © 2011 by A.M. Best Company, Inc. All rights reserved. No part of this report may be reproduced, stored in a retrieval system or transmitted in any form or by any means; electronic, mechanical, photocopying, recording or otherwise.


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