2011 Estimated Capital Gains Distributions

FOR INFORMATIONAL PURPOSES ONLY

The figures below are ESTIMATES.

During February you should be receiving your annual 1099 DIV Form under a separate cover that will report all taxable income distributions from your fund for the tax year 2011. Aquila encourages all shareholders to seek the advice of a licensed tax professional and to refrain from filing any tax return until their actual 1099 DIV Form is received.

TAX-FREE TRUST OF OREGON
Schedule: December
Per Share Amounts
Record Date: -- Ex date: -- Pay date: -- Long-term None
Reinvestment Price: TBD
Short-term
 None


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