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[1] Adams Financial Concepts (AFC) Growth Accounts and incentive Profit-Sharing Accounts results are net of all fees and expenses. The results are net, net, net.

[2] AFC Accounts returns include all active accounts as well as all closed accounts with the same objective: to beat the S&P 500 over the longer-term (10 years).

[3] AFC Accounts information in the charts and tables does not include AFC balanced accounts or AFC fixed income accounts which have performance objectives (or benchmarks) different from the growth accounts.

[4] The objective for all AFC Accounts in these tabulations have a common objective: “Beat the S&P 500 over the longer-term (10 years).

[5] AFC Growth Accounts are concentrated in 8 to 12 securities as opposed to the S&P 500 which is a diversified index. (For further discussion see AFC Investment Philosophy).

[6] AFC Incentive Profit Sharing Accounts are long/short. The long positions are the same as found in the Growth Accounts.

[7] AFC Managed Accounts include capital gains and losses, both realized and unrealized, but do not include the impact of taxes on capital gains.

[8] AFC Managed Accounts tend to have greater volatility than the S&P 500 Index.

[9] Minimum Growth Account Size as of 1/1/2008 is $100,000; Prior to 1/1/2008, the minimum account size was $50,000. Several long-term clients of A Michael Adams were allowed to join the Custom Portfolio Wrap program even with less than $50,000 during 2005 and 2006.

[10] Minimum Incentive Profit Sharing Account size is $100,000 with a minimum of $1.1 million under management at AFC and a client minimum net worth of $2.2 million excluding home.

[11] Past performance is no guarantee of future returns.

[12] AFC accepts there will be times when there will be periodic losses, setbacks, and unexpected occurrences. Calamitous drops do not scare us out of the market.

[13] S&P 500 Index includes dividends reinvested.

[14] This summary does not constitute an offer to sell or a solicitation of an offer to buy any securities or to enter into any investment advisory relationship and may not be relied upon in connection with any offer or sale of securities.

[15] AFC believes there is a skill in longer-term stock picking and cites academic validation:· “Luck versus Skill in the Cross-Section of Mutual Fund Returns” published in The Journal of Finance, October 2010 by Eugene Fama and Kenneth French." Is one example.

[16] We subscribe to the Warren Buffett philosophy that, “Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic.”

[17] AFC must disclose that we do not compensate any client for testimonials. We do invite clients from time to time to baseball games, theater events, and meals. We do send flowers when clients are in the hospital, and we have sent small gifts from time to time for special events like anniversaries and birthdays.