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

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

University of Colorado	Poudre Valley Hospital
Coors Field	CU Health Sciences
Highlands Ranch Recreation Center
Since the portfolio is subject to change, the Fund may not necessarily currently own these specific securities.