Amalya Lyle Kearse

Clinton Assoc. Pimp — None

Int] Constructors Pmp — Interest

T.Rowe Price Eq Inc Mutual Fund — Int/Div

Janus Twenty Mutual Fund — Int/Div

IRA Janus Fund — Int/Div

IRA Perkins Mid-Cap Value Fund. See Note — Int/Div — Sold (part)

IRA T.Rowe Price Mid-Cap Value Fund — Int/Div

Janus Money Market Fund — Int/Div

T.Rowe Price Money Market Fund — Int/Div

T.Rowe Price Mid-Cap Growth Fund — Distribution

Citibank Money Market — Interest

JP Morgan Clearing Corp. Money Market Fund — Interest

IndyMac Bancorp common — None

Selected American Shares — Int/Div — Sold (part)

Selected Int'L Fund See Note — Int/Div — Sold (part)

Selected Int'l Fund See Note — Int/Div — Sold

T.Rowe Price Media & Telecom. Fund — Int/Div

Cisco Systems common — Int/Div — Sold

Intel Corp. common See Note — Int/Div

Perkins Mid-Cap Value Fund (non-IRA) — Int/Div

Citadel Broadcasting Co. common — None

American Express Money Market Fund See Note — Interest — Closed

T. Rowe Price Small Cap Value Fund — Int/Div

Sociedad Quimica y Minera common See Note — Int/Div

YUM Brands Inc. common — Int/Div

Activision Blizzard Inc. common — Int/Div

Nvidia Corp. common — None

Infinera Corp. common — None — Buy

China Digital TV Holding Co. common — None — Buy

China Digital TV Holding Co. common — None — Buy

Energy Solutions Inc. common — None — Buy

Energy Solutions Inc, common — None — Buy

American Reprographics Co. common — None — Buy

Amencan Reprographics Co. common — None — Buy

Power One Inc. common — None — Buy

Trustee, Director, Kearse Memorial Scholarship Fund

Agreement — 79 — Hughes Hubbard & Reed - Amalya L. Kearse: Return of July 1979 Capital

All Explanations are re part VII:

All investments shown in previous report as having no value at end of the prior reporting period were sold, dissolved, or otherwise disposed of during that period

and have been deleted from the form,

Line #6: Re: IRA Perkins Mid-Cap Value Fund: Under the Internal Revenue Code, a distribution of IRA assets was required; the amount distibuted is indicated

in column D(3),

Lines 15 & 16: Selected Intemational Fund was formerly called Selected Special Shares. Although only part of the Selected International Fund was sold on

4/26/11, columns C(1) and (2) are left blank on Line 15 because, as indicated on Line 16, the remainder of that Fund was sold on 7/27/11, and that assset had no

value at the end of the reporting period.

Line #19: Some shares of Intel Corp. purchased in 2006 were donated to charity on November 1, 2011,

Line #22: American Express terminted its rebate money market program in November 2011; all funds in that account were transferred to u bank account prior to

the end of 2011, and the account was closed.

Line #24: Some shares of Sociedad Quimica y Minera purchased in 2010 were donated to charity on May 2, 2011,

Any multiple entries for the sume security, required in prior report because there were transactions on different dates, have been consolidated to the extent

appropriate.