Lawrence L. Piersol

National Housing Partnership — Int/Div

mmm (Moody Co., SD) — Rent

Memll Lynch Latin America Fund (IRA) — Int/Div

The Equitable, IRA — Int/Div

IBM — Int/Div

Venzon Commumcations — Int/Div

Viacom Inc — Int/Div

Amencan Express Co — Int/Div

Bristol-Myers Squibb — Int/Div

Ford Mtr. Co. Del — Int/Div

General Electric Corp. — Int/Div

RJR Nabisco Group — Int/Div

Safeway — Int/Div

Associates First Cap. — Int/Div

Charles Schwab Co. Money Market — Interest

Ckg Accts, (2) First Bank & Trust, SxFalls & Bkgs, SD — Interest

Ckg Accts, (2) First Natl Bank, SxFalls, SD — Interest

Mutual Beacon Fund — Int/Div

Sogen Overseas Fund (now called First Eagle Overseas Fund) — Int/Div

Schwab Money Market — Interest

Money Market Acct. - Vanguard — None — Sold

Commercial Property Parcel (Minnehaha Co. SD) — Reat

Commercial Property Parcel 2 (Minnehaha Co. SD) — Rent

Capital Guardian Trust {Closed End Mutual Fund) — Int/Div

Merrill Lynch Money Market — Interest

Templeton Dragon Fund — Int/Div

Apartment Interest (Minnehaha Co., SD) — Rent

Mutual Discovery Fund — Int/Div

Exxon Stock — Int/Div

Vanguard Total Stock Mkt Idx Adm — Int/Div

Vanguard High-Yield Corp Fund Inv — Interest

pum (Moody Co., SD) — Rent

Proctor & Gamble Co — Int/Div

SBC Communications. Inc — Int/Div

Dommion Resources — Int/Div

Excelsior Income Shares — Int/Div

Johnson & Johnson — Int/Div

LG&E Energy Corp — Int/Div

Merck & Co. Inc — Int/Div

Microsoft — Int/Div

Cisco System, Inc. Co, — Int/Div

Berkshire Hathaway B — Int/Div

Visteon Corp. — Int/Div

Ameriprise Fin. Inc — Int/Div

Zimmer Hids Inc — Int/Div

Real Property Bare Land #1 (Lake Co, SD) — None

Real Property #2 (Lake Co.. SD) — Rent

AT&T. Inc. (X) — Int/Div

Adams Express Co. (X) — Int/Div

Alliant Energy Corp. (X) — Int/Div

Ameren Corporation (X) — Int/Div

Black Hills Corp. (X) — Int/Div

Centurylink, Inc. (X) — Int/Div

Comcast Corp. New CL A (X) — Int/Div

DNP Select Income Fund (X) — Int/Div

Energen Corp. (X) — Int/Div

FT Dearborn Inc. Sec Inc. (X) — Int/Div

Fromtier Communications (X) — Int/Div

The Southern Company (X) — Int/Div

Xcel Energy Inc. (X) — Int/Div

First Eagle Overseas (X) — Int/Div

CBS Comp (X) — Int/Div

Real Property (Lawrence Co., SD (X) — None — Buy

Director, The Foundation for the Advancement of an Independent Judiciary and the Rule of Law. a charitable foundation.

Director, John T. Vecurevich Foundation, a charitable foundation

Liability — First Bank and Trust — Note & Mortgage: Farm, Commercial Properties

Reimbursement — John T. Vucurevich Foundation — April 11 — Rupad City, SD — Board Meeting — Travel expenses reimbursed

Reimbursement — Federal Judges Association — April 12-14 — Washington, DX — Board Meeting — Travel expenses reimbursed

Reimbursement — John T. Vucurevich Foundation — August 15 — Rupad City, SD — Board Meeting — Travel expenses reimbursed

Reimbursement — John T. Vucurevich ) Foundation — December — Rapid City, SD — Board Meeting — Travel expenses reimbursed

Spouse's income — 2011 — Spouse's self-employed Law Practice and spouse's service as a director of Bush Charitable Foundation

Line 33. Commercial Property #3 (Lee Co., FL) in my 2010 report was omitted from my 2011 report as the property is no longer rented, but rather serves only as

our second home, It is my understanding that as a second home, it does not have to be listed as it is one of our residences us discussed in subpart paragraph 3 of

the Security Issues Instructions issued January 2, 2004,

Line 63. Real Property (Lawrence Co., SD) (X). Property purchased September 13, 2011, for $15.277.00.