Narragansett Insured Tax-Free Income Fund invests primarily in tax-free municipal obligations of Rhode Island issuers. These are the kind of securities that finance schools, highways, hospitals, and water and sewer facilities here in Rhode Island.

Thus, your investment in the Fund benefits not only yourself, through double tax-free income, but also improves the quality of life in Rhode Island.

University of Rhode Island	Department of Administration
Rhode Island Convention Center	TF Green Airport
Women and Infants Hospital
Since the portfolio is subject to change, the Fund may not necessarily currently own these specific securities.