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Many of you know that IRA Services has been providing retirement account services for nearly thirty years. For all those years we have always partnered with a financial institution to provide the custodial services that are necessary for a retirement account.

We are very pleased to announce that we have been granted authority to operate our own trust company to be the custodian of your account. Effective July 1, 2008 IRA Services Trust Company has become the custodian of your retirement or educational account.

IRA Services Trust Company is a state chartered non depository trust company that is regulated by the South Dakota Division of Banking. The company has met or exceeded all of the requirements of the State as to capital and insurance. We are dedicated to maintaining IRA Services Trust Company as a sound and secure trust company.

The formation of IRA Services Trust Company means that we no longer will partner with a separate financial institution to provide you with your retirement or educational account. It also means that our ability to bring you superior service at extremely competitively rates will continue.

The same staff that has handled your account from its inception is still a part of the new IRA Services Trust Company. Our telephone number, facsimile number and addresses are all unchanged. You will continue to receive the same service you have come to know. Your account will continue to be accessible at www.iraservices.com, with no change in password.

We hope that you will find this change to be as transparent as possible. It will allow us to, in many ways, provide you with better service at a low cost and yet continue to ensure the safety and security of your account.

What must you do?

The change in custodian requires no action on your part. You may go to to the tab "Download Forms" and download a revised custodial account for your type of account that will indicate IRA Services Trust Company is the custodian of your account.

If you are sending documents for your account, you may now send them to IRA Services Trust Company FBO [your name] (Federal TIN: 26-2627205). If you need a form, you should use the forms that are available on the website. We will continue to use Fremont Bank as our depository institution for the custodial cash account. Any wires should be sent to Fremont Bank according to the wire instructions provided under the tab “Download Forms, Delivery Instructions”. Your custodial cash deposits will continue to be insured up to $250,000 by the Federal Depository Insurance Corporation (FDIC).

If you take distributions during the year, you may receive two 1099R tax forms for the year 2008. One will be under the prior custodian’s tax ID number and the other under the tax ID for IRA Services Trust Company. Rest assured that the sum of the tax forms will equal the total distribution for the year.

We are excited about this change and believe that it will be a good change for all participants. We look forward to working with you as you manage your retirement or educational account.

If you have any questions about this change, please feel free to contact one of our customer service representatives at 650-593-2221.

If you would like information about protecting yourself and your accounts from fraudulent investments, the US Securities and Exchange Commission has a website devoted to investors, particularly seniors, on how to identify and avoid schemes that could compromise your account.