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Bidding By Issuers/Conduit Borrowers in ARS Auctions

Certain Municipal Issuers or Conduit Borrowers have decided to participate in the auction of their own auction rate securities pursuant to recent guidance from the U.S. Securities & Exchange Commission. These Issuers/Conduit Borrowers are required to provide a notice of their intent to participate in the auction and the interest rate and amounts that they will bid for and certain other detailed bidding information. This information will be available to you at www.dacbond.com.