Ames National Corporation, through its subsidiaries, provides commercial banking services in Iowa. It engages in generating deposits and originating loans. The company’s deposit products include demand, savings, negotiable order of withdrawal, money market, and time deposit accounts. Its loan portfolio primarily comprises short-term and medium-term commercial and residential real estate loans; agricultural and business operating loans and lines of credit; equipment loans, vehicle loans, personal loans; and home improvement loans and secondary mortgage loans.

AmeriServ Financial, Inc. operates as a bank holding company for the AmeriServ Financial Bank, which offers consumer, mortgage, and commercial financial products. The bank offers retail banking services, such as demand, savings and time deposits, money market accounts, secured and unsecured loans, mortgage loans, safe deposit boxes, holiday club accounts, collection services, money orders, and traveler’s checks. It also provides lending, depository, and related financial services, which include real estate-mortgage loans, short- and medium-term loans, revolving credit arrangements, lines of credit, inventory and accounts receivable financing, real estate-construction loans, business savings accounts, certificates of deposit, wire transfers, night depository, and lock box services to commercial, industrial, financial, and governmental customers.

AmericanWest Bancorporation operates as a bank holding company for AmericanWest Bank, which provides various financial services. It accepts negotiable order of withdrawal, money market demand accounts, savings accounts, and time deposits. The bank also offers commercial real estate, agricultural, commercial and industrial, real estate mortgage, real estate construction, installment, and bankcard loans.

American Select Portfolio Inc. (the Fund) is a diversified closed-end management investment company. The Fund’s primary investment objective is to provide a high level of current income. Its secondary objective is capital appreciation. The Fund invests in mortgage-related assets that directly or indirectly represent a participation in or are secured by and payable from mortgage loans. It may also invest in the United States Government securities, corporate debt securities, preferred stock issued by real estate investment trusts and mortgage servicing rights.

America First Apartment Investors, Inc. is a real estate investment trust. The company’s operating and investment strategy focuses on multi-family apartment properties as long-term investments. The Company’s real estate portfolio currently includes 30 multifamily properties with 6,468 rental units and one commercial property.The objectives of the company are to generate dependable cash flow, increase dividends to its investors and increase net asset value over time.

Affordable Residential Communities, Inc., is a real estate investment trust, engages in the acquisition, renovation, repositioning, and operation of all-age manufactured home communities in the United States. It also involves in the retail sale and financing of manufactured homes; the rental of manufactured homes; and other related businesses, including acting as an agent in the sale of homeowners’ insurance and related products.

Advance America, Cash Advance Centers, Inc. is the largest provider of payday cash advance services in the United States, as measured by the number of payday cash advance centers operated. It operates 2,604 payday cash advance centers in 36 states. Payday cash advances are small-denomination, short-term, unsecured advances that are typically due on the customer’s next payday.

Ocwen Financial Corporation (”Ocwen”) is a vertically integrated multi-billion dollar, publicly traded financial services holding company, engaged in a variety of businesses related to mortgage servicing, real estate asset management, asset recovery and technology. Headquartered in West Palm Beach, Florida, Ocwen is dedicated to becoming a global leader in providing asset management services and advanced technology solutions to selected financial markets. Ocwen pursues its goal of being an industry-leading mortgage servicer, real estate and technology provider by focusing on globalization, Six Sigma process improvements and enabling technology.

Adams Express Company is a diversified equity investment company with a conservative investment philosophy suitable as a core holding for long-term investors. Structured as a closed-end fund since 1929, its investment objectives are preservation of capital, the attainment of reasonable income from investments, and an opportunity for capital appreciation.

Aether Holdings, Inc. engages in the ownership and management of a portfolio of mortgage-backed securities and other short-term government agency investments. Its investments are focused primarily on adjustable rate, residential mortgage-backed securities issued by the Federal Home Loan Mortgage Association, the Federal National Mortgage Association, and the Government National Mortgage Association.

ACE Cash Express, Inc. is the largest owner, operator and franchiser of check-cashing stores in the United States. ACE Cash Express stores offer convenient retail financial services, including check cashing, money order sales, MoneyGram wire transfer services, bill payment services, prepaid MasterCard cards and prepaid local and long distance telecommunications services. In addition, state regulated small consumer loans are offered to customers at select ACE company-owned and franchise stores.

Accredited Home Lenders, Inc., a wholly-owned subsidiary of Accredited Home Lenders Holding Co., is one of the nation’s premier mortgage banking companies engaged in the business of originating, financing, securitizing, servicing, and selling residential mortgage loans that do not conform to the credit or other criteria established by Fannie Mae and Freddie Mac. Accredited’s loans are referred to as “non-prime” mortgage loans.

Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, United Kingdom, Germany and China. Baird serves individuals, corporations, institutional investors and municipalities as financial advisor, asset manager, investment banker and specialists in equity research, private equity and public finance. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the U.S. and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s U.S. private equity operations.

American Century is a multi-disciplined, global asset management firm offering diverse investment vehicles and employing approximately 2,000 people. Its global team of investment professionals offers a diverse range of investment options in domestic equity, international equity, fixed income, money market securities, and retirement plans for individual and institutional investors.

Polaris Software Lab Ltd is one of India’s leading institutions contributing to the knowledge economy of the global financial services marketplace. Headquartered in Chennai (India), Polaris has established its solutions and services footprint globally contributing to the realization of the business vision of some of the world’s leading giants in the money vertical. Polaris is proud to be associated with some of the world’s most prestigious financial services institutions like Citigroup, AIG, Commerzbank, ABN Amro, Shinsei Bank, UBS, Deutsche Leasing and Maybank & DBS.

Kotak Mahindra is one of India’s leading financial institutions, offering complete financial solutions that encompass every sphere of life. From commercial banking, to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the financial needs of individuals and corporates. With a presence in 88 cities in India and offices in New York, London, Dubai and Mauritius, it services a customer base of over 10,00,000.

DSP Merrill Lynch Limited (DSPML) - DSPML is a leading financial service provider in India. It is a culmination of a long standing relationship between DSP Financial Consultants Limited (DSP), and Merrill Lynch and Co. (ML), the leading international capital raising, financial management and advisory company. Merrill Lynch has a 40% equity stake in DSPML.

In India, DSPML is the leading underwriter and broker for debt and equity securities and a leading advisor to corporations and institutions. For private customers, our platform of products and services provides access to a robust range of investing and wealth building tools with the personal guidance of financial consultants. DSPML is also among the first firms to set up a full-fledged research team in India. The Company is among the major players in the debt and equity markets and is also a primary dealer of Government Securities.

1st Source is the largest locally-owned financial institution headquartered in the Northern Indiana-Southwestern Michigan area. While delivering a comprehensive range of consumer and commercial banking services, 1st Source has distinguished itself with innovative products and highly personalized services. 1st Source also competes for business nationally by offering specialized financing services for new and used private aircraft, automobiles for leasing and rental agencies, heavy duty trucks, and construction and environmental equipment.

Forest City Enterprises, Inc., a $7.8-billion company recently rated by Fortune magazine as the top publicly traded real estate company, is principally engaged in the ownership, development, acquisition and management of premier commercial and residential real estate throughout the United States. It operates under three strategic business units: Commercial, Residential and Land Development.

Alexander Forbes is a leading provider of financial and risk services internationally. Listed on the JSE Securities Exchange South Africa, the primary operations are based in South Africa and the UK. A significant network of subsidiaries and partners ensures it provides an outstanding level of service to its customers internationally. Alexander Forbes customers include small, medium and large organisations, specialist groups and individuals.

Raymond James Financial is one of the largest financial services firms in the United States, with 2,100 locations worldwide. It is a diversified financial services holding company whose subsidiaries engage primarily in investment and financial planning, including securities and insurance, brokerage, investment banking, asset management, banking and cash management, and trust services. The firm’s asset management subsidiaries manage in excess ofapproximately $27.5 billion for individuals, pension plans and municipalities.

CI Investments Inc. is a leading Canadian-owned investment management company, managing about $50 billion in assets as of May 31, 2005. It offers leading portfolio management teams whose investment expertise is among the best in the world. CI Investments market its funds through a network of more than 40,000 financial advisors.

AMB Property Corporation is a global developer and operator of industrial real estate in the largest and most supply constrained distribution locations in North America, Europe and Asia. Its properties are designed for customers who value the efficient movement of goods in the world’s busiest distribution markets – generally markets tied to global trade. AMB Property serves nearly 2,700 customers in 40 markets of 10 countries.

Century Leasing System is a diversified leasing company established by a leading trading company and major financial institutions. It offers integrated services based on its trading company’s information resources, its financial institutions’ financing capabilities, and the solid management infrastructure.

Hong Leong Group is a leading provider of financial services through Hong Leong Credit Berhad’s subsidiaries and associate companies. The Group’s Financial Services companies provide a broad spectrum of financial services - banking, insurance, investment, finance and stock broking throughout Malaysia, Singapore and Hong Kong.

Jefferies Group Inc., is a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for over 40 years. Headquartered in New York with more than 20 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management

City Developments Limited (CDL) is an international property and hotel conglomerate involved in real estate development and investment, hotel ownership and operations and provision of hospitality solutions. Operating in 21 countries spanning Asia, Europe, North America and Australasia, the CDL Group has over 250 subsidiaries and associated companies including 6 companies listed on the notable stock exchanges of Singapore, London, Amsterdam, Hong Kong, New Zealand and Manila.

Cousins Properties Incorporated is one of the foremost diversified real estate development companies in the United States. It focued on the creation of value through the development of commercial office, medical office, and retail properties in selected markets.

Provident Financial is a company specializing in financing for small to medium sized business by providing cash through the purchase of accounts receivable. With Provident, you get more than an expensive form of financing. Provident will work for your company providing all of the accounts receivable functions including credit checking, collections, and customer monitoring and reporting.

The South Financial Group is a financial services company focused on fast-growing banking markets in the Southeast. It uses a super-community bank strategy, serving small and middle market businesses and retail consumers by offering a full range of financial services, including cash management, investments, insurance and trust services.

IDB Holding Corporation Ltd. engages in diversified investment, financial and related operations, and is one of the largest business enterprises in the private sector of the Israeli economy.

Rashid Hussain Securities (RHS) is Malaysia’s largest and internationally respected securities house with operations in Singapore, Jakarta, Manila and a representative office in Bangkok.

Since its founding in 1887, A.G. Edwards has been a part of the commercial and industrial development of America. It is one of the nation’s oldest and largest investment firms, serving millions of investors throughout 49 states, the District of Columbia and London.

Van Lanschot specializes in serving wealthy individuals and institutional investors, as well as mid-sized businesses, including family-owned enterprises. Operating more than 30 branches in the Netherlands and about 10 in Belgium, Van Lanschot also provides private banking services in Luxembourg, Switzerland, and the Netherlands Antilles.

Metrovacesa is the leading Spanish real estate group and one of the top ten in Europe. It is one of the most outstanding listed real estate companies.

Hammerson is a leading European property company, with operations in the UK, France and Germany. The group invests in and develops shopping centres, retail parks and prime offices. Its high quality portfolio of over 1,100,000 m² of retail space and 200,000 m² of prime offices, is valued at over £4.6 billion.

The Julius Baer Group is one of Switzerland’s leading banking institutions and manages substantial assets for private and institutional clients from all over the world. The Group’s services consist mainly of asset management and investment counselling, investment funds for private and institutional investors as well as securities and foreign exchange trading.

Nelnet is one of the leading educational finance companies in the U.S. and is focused on providing quality student loan products and services to students and schools nationwide. Nelnet offers a broad range of student loan and financial services and technology-based products, including student loan origination and lending, holding, guarantee servicing, and a suite of software solutions.

HongKong Land is a leading property investment, management and development group with a major portfolio in Hong Kong where it owns and manages some five million sq. ft of prime office and retail space in the heart of the Central business district. HongKong Land Limited manages these assets and the group’s other property and infrastructure interests in Asia from Hong Kong by providing services to group companies.

Amvescap is one of the largest independent global investment managers. It delivers outstanding investment performance and service across a full range of investment products. With a full-time equivalent of 6,349 employees and offices in 19 countries, Amvescap has a significant presence in the institutional, retail and defined contribution markets in North America, Europe and Asia.

Euronext is the first genuinely cross-border exchange organization in Europe. It provides services for regulated stock and derivatives markets in Belgium, France, the Netherlands and Portugal, as well as in the UK. It is Europe’s leading stock exchange based on trading volumes on the central order book.

Investors Financial Services Corp. provides asset administration services for the financial services industry through its wholly-owned subsidiaries, Investors Bank & Trust Company and Investors Capital Services, Inc. The company provides global custody, multicurrency accounting, institutional transfer agency, performance measurement, foreign exchange, securities lending, mutual fund administration and investment advisory services to financial asset managers, including mutual fund complexes, investment advisors, banks and insurance companies.

Guoco Group Limited (”Guoco”) is an investment holding company The principal activities of its subsidiaries and associated companies include investment and treasury management, property development and investment, stock and commodity broking, insurance, investment advisory, fund management, banking and finance as well as hotel investment and management, operating principally in Hong Kong, Singapore, Malaysia, the PRC and the United Kingdom.

As a comprehensive real estate development organization, the Tokyu Land Corporation Group, led by Tokyu Land Corporation, provides a broad range of total life solutions geared toward lifestyle enhancement, including real estate sales, commercial and residential building management, referrals, home remodeling, leasing, and retailing home-related materials and equipment.

Wheelock and Company Limited is a listed investment company in Hong Kong. Wharf Holdings, the Group’s principal investment, is a major property investor in Hong Kong with complimentary businesses established in the areas of logistics and CME (communications, media and entertainment). Wheelock’s other assets are primarily represented by its direct property and other investments.

Sumisho Lease, a Japan’s leading leasing company, has long been exploring the horizon of the semiconductor equipment market in disposition service and leasing & financing of semiconductor equipment, with reliability and credibility gained in the market.

Japan Securities Finance (JSF) is the largest securities financing company of the three securities financing companies. It has been covering the majority of expenses with earnings from loan transactions, assuring good turnover at Tokyo Stock Exchange as the primary provider of loans for margin transactions to securities firms.

Chicago Mercantile Exchange (CME) is the largest futures exchange in the United States and is the largest futures Clearing House in the world for the trading of futures and options on futures contracts. CME products fall into four major areas: interest rates, stock indexes, foreign exchange and agricultural commodities.

Shinko Securities Co., Ltd., a member of the Mizuho Financial Group, provides a full range of comprehensive financial services. By leveraging interdivisional and Group synergies and providing a full range of services, Shinko Securities seeks to meet the various needs of its customers.

Incorporated in 1993, AvalonBay Communities, Inc. has become one of the nation’s leading Real Estate Investment Trusts (REITs) - developing, redeveloping, acquiring, and managing luxury apartment communities all across the United States.