At TD Ameritrade you have the right to pursue financial independence ... your way. TD AMERITRADE is dedicated to helping you do just that. We deliver state-of-the-art tools, outstanding personal service, affordable pricing and innovative technology so you can follow your own path.

You have unique goals. TD AMERITRADE can help you reach them by providing the level of education and support you want.

We brought together TD Waterhouse’s free independent research and Ameritrade’s powerful trading platform and flat-rate online pricing to create something new: a company dedicated to success of investors like you. It’s a valuable mix of trading tools, straightforward value and market data. Open you account today and you will have:

Ø  Flat-rate $9.99 commissions on Internet equity trades

Ø  No account maintenance fees

Ø  Free Independent research and advanced trading tools

Ø  Access to over 100 nationwide branches

Now through a special relationship between Piper Jaffray and TD Ameritrade, you can take advantage of these special new account offers. Simply write the offer code you want on your paper application.

Ø  Write in offer code 411 to receive 30 commission-free Internet equity trades based on a $1,000 minimum account funding in the first 30 days of your account opening.*

Ø  Write in offer code 415 to receive a $50 cash credit to your account with a minimum $5,000 account funding.**

Ø  TD Ameritrade will reimburse up to $100 for accounts transferred in from our competitors.

We invite you to find out more about us, and how the spirit of independence both yours and ours, can help you along the path to financial independence. If you would like to learn more go to TDAmeritrade.com or call 800-934-4448 option 8, ext. 60029.

Market volatility, volume and system availability may delay account access and trade executions.

*Offer valid for one new Individual or Joint account opened by 12/31/2006 and funded within 30 days with $1000 or more. Not transferable and not valid for internal transfers, current TD AMERITRADE clients, or with other offers. Qualified commission-free Internet equity orders must execute within 30 days of qualifying account funding. Limit one offer per client. Please allow 2 – 3 weeks for any cash deposit to post to account. Account must remain open with minimum funding for 9 months, or TD AMERITRADE may charge the account for the cost of the free trades used.

**Market volatility, volume and system availability may delay account access and trade executions.

Offer valid for one new Individual or Joint account opened by 12/31/2006 and funded with $5000 or more. Not transferable and not valid for IRAs, internal transfers, current TD AMERITRADE clients, or with other offers. Limit one offer per client. Please allow 2 – 3 weeks for the $50 deposit to post to account. Account must remain open with minimum funding for 9 months, or TD AMERITRADE may charge the account for the cost of the cash awarded to the account.

TD AMERITRADE is a trademark jointly owned by TD AMERITRADE IP Company, Inc. and The Toronto-Dominion Bank. ©2006 TD AMERITRADE IP Company, Inc. All rights reserved. Used with permission. This Web site is not intended for residents of the UK or Canada. UK residents, visit TD AMERITRADE UK. TD AMERITRADE UK is a division of TD AMERITRADE, Inc., member NASD/SIPC. TD Waterhouse Canada Inc. is a subsidiary of The Toronto-Dominion Bank. TD Waterhouse Canada Inc. and TD AMERITRADE, Inc. are affiliated through their respective parent firms.