History of Saturna Brokerage Services, Inc.

Saturna Brokerage Services is a discount securities broker founded in 1986. We serve both knowledgeable investors and professionally managed trading accounts. We do not deal for our own account, buying securities and hoping to mark them up and sell them to customers. We limit ourselves to executing customers' buy and sell orders at a simple, low commission.

We are a wholly-owned subsidiary of Saturna Capital Corporation, an independent investment adviser. Our staff consists of salaried employees of Saturna Capital who do not receive commissions.

Saturna Capital Corporation manages securities investment portfolios for institutions, families and mutual funds. Saturna also develops proprietary computer systems for investment selection, administration and monitoring, and offers retirement plan services, including accounting, administration, and shareowner recordkeeping.

Saturna Capital is primarily owned by its employees and their families. The principals have over 60 years combined experience in the investment and mutual fund industries. Chairman Nicholas Kaiser is the controlling shareowner of Saturna Capital Corporation. For additional information on Saturna's mutual funds or investment counsel services, please call 1-800-SATURNA (1-800-728-8762).