Thomas Lamson Ludington

Bank & Trust (checking & savin gs) — None

Dow Chemical Employees Credit Union — None

TD Ameritrade Money Market — Interest

Memill Lynch Money Market — None

Amgen Stock — None

Covance Stock — None

Cisco Stock — None — Sold

Coming Stock — Int/Div

General Electric Stock — Int/Div — Sold

IBM Stock — Int/Div

Quest Diagnostics Stock — Int/Div

Xilinx Inc Stock — None — Sold

Chemical Financial Stock — Int/Div

Petoskey MI Condo — None

Am Cent Real Est (Dow Savings Plan) -(g) {401K — None

Fidelity Contrafund (Dow Savings Plan) Ij) 1) 401K — None

Fidelity Diversified Intl (Dow Savings Plan) mh 401K — None

STI Classic Sm Cap Value T - State of Mich igan 401K (TLL) — None — Sold

RidgeWorth Funds - State of Michigan 40 IK (TLL) — None — Buy

American Funds Europacific Gr - State of M ichigan 401K (TLL) — None

Chemical Bank Savings - FBO #1 — Interest

Federated Balanced (CFC) - FBO #1 — Int/Div

MI Edu Savings Program - FBO #1 — None

Eaton Vance Dividend Bldr — None — Sold (part)

Eaton Vance Dividend Bldr — Sold

FBR Gas Util Index Fund — None — Sold (part)

FBR Gas Util Index Fund — Sold

FBR Small Cap Fund — None

Fidelity Slct Portf Fund — None — Sold (part)

Fidelity Slct Portf Fund — Sold (part)

First Eagle Overseas A Fund — Int/Div — Buy (add'l)

Franklin Templeton — None — Buy (add'l)

Franklin Templeton — Buy (add'l)

General Dynamics, Inc — None

ING Financial Svs. Fund — None — Sold

J B Hunt Transport Svsc — None — Sold (part)

J B Hunt Transport Svsc — Sold (part)

Johnson Controls, Inc — None

Knight Transportation — None — Sold (part)

Knight Transportation — Sold

L-3 Communications, Inc — None — Sold (part)

Lowes Companies, Inc — None

Meridian Value Fund — Int/Div — Buy (add'l)

Meridian Value Fund — Sold (part)

Meridian Value Fund — Buy (add'l)

MEFS Utilities Fund — None — Sold (part)

MEFS Utilities Fund — Buy (add'l)

NVR, Inc — None — Buy (add'l)

NVR, Inc — Sold

Royce Low-Priced St Fund — None — Buy (add'l)

Royce Low-Priced St Fund — Sold (part)

Royce Low-Priced St Fund — Buy (add'l)

Royce Low-Priced St Fund — Sold (part)

Seligman Comm Fund — None

T Price Mid Cap Val Fund — None — Buy (add'l)

T Price Mid Cap Val Fund — Buy (add'l)

T Price Mid Cap Val Fund — Sold

United Health Group, Inc — None

Vanguard Energy Fund — None

Vanguard Spc Hith Fund — None — Sold (part)

Amcent: Intl. Disc Fund — Int/Div — Buy (add'l)

Dodge & Cox Intl Stock Fund — Int/Div — Buy (add'l)

Julius Baer Intl Eqty — Int/Div — Buy (add'l)

MFS Intl New Discovery A Fund — None — Sold (part)

MFS Intl New Discovery A Fund — Buy (add'l)

Morgan Stanley Inst Intl Real Estate Fund — None — Buy (add'l)

T Price Media & Tel Fund — None — Buy (add'l)

William Blair Intl Gr Fund — None — Buy (add'l)

William Blair Intl Gr Fund — Buy (add'l)

William Blair Intl Gr Fund — Sold

ATCO Ltd Class I — Int/Div — Buy (add'l)

Bank of Nova Scotia — Int/Div — Sold (part)

Petro-Canada — None — Sold (part)

Petro-Canada — Buy (add'l)

Power Financial Corp — Int/Div — Buy (add'l)

Shoppers Drug Mart Corp — Int/Div — Sold (part)

Suncor Energy Inc — None — Sold (part)

Suncor Energy Inc — Sold (part)

Suncor Energy Inc — Buy (add'l)

Harris Cap PFD — None

Permian Basin Royalty Tr — Int/Div — Sold (part)

Permian Basin Royalty Tr — Sold (part)

Permian Basin Royalty Tr — Buy (add'l)

Sabine Royalty Trust — Int/Div — Sold (part)

Sabine Royalty Trust — Sold (part)

San Juan Basin Royalty — Int/Div — Sold (part)

San Juan Basin Royalty — Sold (part)

Magellan Midstream — Int/Div — Sold (part)

Magellan Midstream — Buy (add'l)

NuStar Energy — Int/Div — Buy (add'l)

NuStar Energy — Sold (part)

Plains All American Pipelines — Int/Div — Buy (add'l)

Plains All American Pipelines — Sold (part)

Sunoco Logistics Partners — Int/Div — Sold (part)

Sunoco Logistics Partners — Buy (add'l)

AMB Property — Int/Div — Buy

Boston Properties, Inc — Int/Div — Sold

C & S Realty Fund — None

Entertainment Pptys Tr — Int/Div — Sold (part)

Health Care Ppty Inv, Inc — Int/Div — Sold (part)

Health Care Ppty Inv, Inc — Sold (part)

Home Properties of NY — Int/Div — Sold (part)

Kimco Realty Corp — Int/Div — Sell

Kimco Realty Corp — Buy (add'l)

Kimco Realty Corp — Sold

Prologis — Int/Div — Buy

Prologis — Sold (part)

SL Green Realty — Int/Div — Buy (add'l)

Weingarten Realty Inv — None

Thomburg Intl Value Fund — None — Buy (add'l)

American Gen Fin - Bond 12/15/11 — Interest

Amencan Gen Fin - Bond 6/15/10 — Interest

American Gen Fin - Bond 6/15/09 — Interest

Bank Georgia CD 2/17/09 — Interest

Caterpillar Fin - Bond 7/15/08 — Interest — Matured

Caterpillar Fin - Bond 2/15/09 — Interest

Caterpillar Fin - Bond 7/15/10 — Interest

Caterpillar Fin - Bond 7/15/12 — Interest — Buy

Dayton OH - Bond 10/01/09 — Interest

Exchange Natl Bank CD 4/25/08 — None — Matured

Fairfax Cnty VA - Bond 6/01/09 — Interest

GTE NW (Verizon) Bond 10/15/08 — Interest — Matured

John Hancock - Bond 2/15/12 — Interest

John Hancock - Bond 12/01/08 — Interest — Matured

Lehman Bank - Bond 1/18/12 — Interest

Merrill Lynch -Bond 3/15/11 — Int/Div

NStar Elec Co - Bond 5/15/10 — Interest

PPG Industries - Bond 8/15/09 — Interest

Principal Life - Bond 6/15/2012 — Interest

Protective Life - Bond 7/15/10 — Interest

Rhode Island - Bond 10/01/09 — Interest

Sweden Kingdom - Bond 4/1/09 — None

Schwab Money Market - FBO #1 — None

D R Horton - FBO #1 — None — Sold

Eaton Vance Div Bldrs Fund - FBO #1 — None — Buy (add'l)

Eaton Vance Div Bldrs Fund - FBO #1 — Sold

FBR Small Cap Fncl Fund - FBO #1 — None

Knight Transportation - FBO #1 — None — Sold (part)

Knight Transportation - FBO #1 — Sold

Magellan Midstream - FBO #1 — Int/Div

Meridian Value Fund - FBO #1 — None — Buy (add'l)

Meridian Value Fund - FBO #1 — Sold

Royce Penn Mutual Fund — None

Seligman Comm Fund - FBO #1 — None — Buy (add'l)

SL Green Realty - FBO #1 — None

Vanguard Spc Hlth Fund - FBO #1 — None — Sold (part)

Vanguard Spc Hlth Fund - FBO #1 — Sold

MFS Intl New Discovery A Fund - FBO #1 — Int/Div — Buy (add'l)

Thorburg Intl Value A Fund - FBO #1 — Int/Div

Petro-Canada FBO #1 — Int/Div — Buy (add'l)

Power Financial Corp - FBO #1 — None

Amencan Gen Fin - Bond 5/15/10 — Interest

Bankers Trust NY - Bond/FBO #1 — Interest — Matured

Caterpillar Fin - Bond 2/15/11 — Interest

Honeywell Intl Inc - Bond/FBO #1 — None

Household Finance - Bond/FBO #1 — None — Matured

Bac Cap Tr II - FBO #1 — Int/Div

Pacific Prm Bk CD 10/3/08 — Interest — Matured

Harris Cap - FBO #1 — Int/Div

Boston Properties, Inc - FBO #1 — Int/Div — Sold

C & S Realty Inc A Fund - FBO #1 — None — Sold

Home Properties of NY — Int/Div

Schwab Money Market Fund - FBO #2 — None

Eaton Vance Div. Bldrs Fund - FBO #2 — None — Buy (add'l)

Eaton Vance Div. Bldrs Fund - FBO #2 — Sold

FBR Small Cap Fncl Fund - FBO #2 — None

Meridian Value Fund - FBO #2 — None — Buy (add'l)

Royce Penn Mutual Fund — None — Buy (add'l)

Seligman Comm Fund - FBO #2 — None — Buy (add'l)

Vanguard Energy Fund - FBO #2 — Int/Div — Buy (add'l)

Vanguard Energy Fund - FBO #2 — Buy (add'l)

Vanguard Spc Hlth Fund - FBO #2 — None — Sold

MFS Intl New Discovery A - FBO #2 — Int/Div

Thomburg Intl Value A - FBO #2 — None — Buy (add'l)

William Blair Intl Gr Fund - FBO #2 — None — Buy (add'l)

ATCO Ltd Class I - FBO #2 — None

DR Horton - FBO #2 — None — Sold

Power Financial Corp - FBO #2 — None

Honeywell Intl Inc - Bond/FBO #2 8/1/09 — None

Alger Hlth Sci Fund - FBO 31 — None — Buy

Alger Hlth Sci Fund - FBO 31 — Buy (add'l)

JB Hunt Transport Svsc - FBO #1 — None — Buy

MFS Utilities Fund - FBO #1 — None — Buy

T Rowe Price Fincl Srve Fd - FBO #1 — None — Buy

Sunoco Logistics Partners - FBO #1 — None — Buy

GE Capital Fin, maty - FBO #1 — None — Buy

GE Capital Fin, maty - FBO #1 — Sold

Royce Penn Mutual Fund - FBO #1 — None — Buy

Alger Hlth Sci Fund - FBO #2 — None — Buy

Alger Hlth Sci Fund - FBO #2 — Buy (add'l)

Capital One CD - FBO #2 — None — Buy

C&S Realty Fund - FBO #2 — Int/Div — Buy

MFS Utilities Fund - FBO #2 — None — Buy

Colonial Bank CD - FBO #2 — Interest — Buy

Colonial Bank CD - FBO #2 — Sold

T Rowe Price Fincl Srvc Fd - FBO #2 — None — Buy

AFLAC Inc — None — Buy

Columbia Vlue & Rst Fun — None — Buy

Columbia Vlue & Rst Fun — Buy (add'l)

Columbia Vlue & Rst Fun — Buy (add'l)

Landstar Systems Inc — None — Buy

Royce Penn Mutual Fund — None — Buy

T Rowe Price Fincl Srvc Fund — None — Buy

AvalonBay Communities Inc — None — Buy

Essex Property Trust — None — Buy

Archer Dan Midland semi — Interest — Buy

Bankers Trust semi — Interest — Buy

Oregon State maty — None — Buy

Pepsico maty — None — Buy

Wachovia Corp semi — Interest — Buy

Director, R. M. Gerstacker Foundation

Director, Saginaw Valley State University Foundation

Director, Thomas L. Ludington Foundation vd = . { ia -

Income — 2008 — Federal Court Salary — $165,000.00

1. Page 4, Line 3, Deleted CEF Money Market (line 5 on 2007 report) and combined with TD Ameritrade Money Market account (line 3 on 2007 report) for ease

of reporting - both are TD Ameritrade Money Market accounts.

2. Deleted lines 6 and 7 from the 2007 report. The assests in these IRA accounts are shown in detail on the following pages.

3. Page 4, Line 8, Coming Stock year end value for 2007 was reported as J in error, should have been M - there was no buy in 2008.

4. Page 5, Line 25, Insert asset (PIMCO Total Return) here because it is part of the 401K plan.

5. Page 5, Line 30, Insert asset (RidgeWorth Funds) here because it is part of the 401K plan.

6. Page 6, Line 37, Delete Schwab Value Advan (line 40 on 2007 report) and combined with Schwab Money Market account (line 39 on 2007 report) for ease of

reporting - both are Schwab Money Market accounts.