DEY COMPANY

A broker/dealer, investment advisor, broker/dealer representative or investment advisor representative may only transact business in a particular state in the U.S. after licensure or satisfying qualification requirements of that state, or only if they are excluded or exempted from the state's broker/dealer, investment advisor, or broker/dealer representative or investment advisor representative requirements, as the case may be. Neither may they follow-up individualized responses to consumers in a particular state that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, without first complying with the state's broker/dealer, investment advisor, broker/dealer representative or investment advisor representative requirements, or pursuant to an applicable state exemption or exclusion.