Reserve Primary Fund — third partial distribution received

Feb. 20, 2009

The Reserve completed a third distribution from the Reserve Primary Fund on Friday, February 20, 2009. You previously received partial distributions from the Reserve Primary Fund on October 31, 2008 and December 3, 2008. Together, these three distributions represent slightly more than 85% of outstanding Reserve Primary Fund shares. The Reserve has stated that they are planning additional distributions, but have not given any timeline.

Ameriprise Financial will distribute proceeds on a pro-rata basis across all client accounts that hold that fund.

• No action is required on your part
• The Reserve is processing this distribution at $1.00 per share Net Asset Value (NAV) even though Reserve Primary still reflects the share price of $0.97. We believe The Reserve is processing the payment in this manner because any potential loss will not likely be known until Reserve Primary processes the final distribution.
• Ameriprise Financial continues to stand by its commitment to provide up to $33 million of its own capital to mitigate client losses up to 3 cents per share should clients receive less than $1.00 per share when the fund is fully liquidated.

The proceeds from this sale will settle in client accounts in this order:

• Pay down any debit balances (margin or cash). To the extent that any debit balances exceed the amount received, you may not be able to access any distribution proceeds.. Any remaining cash will be immediately available in your account and will be viewable online the following business day.
• End of day, all remaining cash will sweep to your new sweep cash option (Ameriprise^® Cash or Ameriprise^® Insured Money Market Account).
• Starting the next day Ameriprise will, on your behalf, pay down any bank loans, including any Overdraft Protection (ODP) line of credit balance linked to your Ameriprise ONE^® Financial Account you may have incurred as a result of The Reserve situation. With each subsequent distribution we will again pay down any remaining bank loan balance using the same rules.
• Shortly thereafter, we will process outstanding wrap fees for Separately Managed Accounts and Ameriprise^® Strategic Portfolio Service Advantage accounts that previously held the Reserve fund as their sweep. If there is not enough cash to cover the fees, we may post a debit to your account. We will provide further updates on future billings as the situation changes.

Looking ahead: future redemptions of Reserve Primary

The Reserve has stated they intend to make additional distributions, though they have not provided a timeline. As we receive additional distributions, we will continue to post proceeds to client accounts and update this website.