For investment professional use only. Not to be shown to retail investors.

	Welcome to the Pershing Investment Research Product Suite. Pershing is dedicated to producing and distributing financial materials and services that provide investment professionals with the information necessary to make informed decisions and serve their clients' investment needs. Pershing Investment Research Online offers a variety of reports on specific securities, industry groups, various economies, and capital markets. These reports act as an effective marketing tool to encourage your clients to invest in their future. The web site includes daily and weekly commentaries on the equity and bond markets, corporate developments, and the economic and monetary indicators most likely to move the securities markets. Reports provide suggestions on prevailing investment trends, as well as ideas and recommendations on appropriate investment strategies. Our analysts have an average of 25 years of experience, giving them the background they need to identify opportunities in both good and bad economic times. In addition, many of our analysts have been recognized in The Wall Street Journal/Zacks Annual All-Star Analyst Survey.