Michael J. Kaplan

Rio Timo ADR common stock — Int/Div — Sold

Mitsubishi Electric ADR common stock — Int/Div

Siemens ADR common stock — Int/Div — Sold

Mitsubishi Heavy Industry ORDregistered — Int/Div — Sold

Vale SA ADR common stock — Int/Div — Sold

Citizens Bank money market account — Interest

Citizens Bank savings account — Interest

M&T Bank Checking account — Interest

Regeneron Pharmceu. common stick — None — Buy (add'l)

Regeneron Pharmceu. common stick — Buy (add'l)

Charles Schwab Deposit Account — Interest

VILD.4. Although the audit says that D-4 must be completed for every transaction, the detailed mstructions say to leave it blank if there was no gain. Each of the

four stocks | sold, were sold at « loss.

VII, line 11. The proceeds from cach sale automatically moved into the Charles Schwab Deposit Account briefly, then out for the reported aquisition of additional

Regeneron stock. Also, the reported dividends went automatically into the Deposit Account. 1 have not reported these as 4 "trunsactions”, as that is a Money

Market account (for which only the mitial opening, and any closing, need be reported).