For over 80 years, Value Line has been a top provider of independent investment-related information with a reputation for high quality, cost effective research, and data. We deliver to our clients timely, accurate, and unbiased information in a format that integrates fundamental equity research with quantitative disciplines. Our focus on operating numbers and the quantitative expertise of our analysts can save hours of work in identifying and examining interesting stock, mutual fund, option, convertible, and special situation investing opportunities.

Data, News, and Analysis: Our DNA The Value Line Institutional Survey opens a vault of investment research, data, expert analysis, and

commentary with a time proven, easy-to-use stock ranking system:

• Data: Spanning thousands of U.S. companies, mutual funds and other securities, industry sectors, indices, and economic variables, Value Line Data includes everything from full balance sheet data and income statement data to capital and equity structure – everything you need to avoid the mistakes of the past, make sound decisions today, and profit in the future.

• News:When warranted by market events such as mergers and acquisitions and new company profiles, reports analyzing current news are posted online and delivered through our print products and services.

• Analysis:Value Line’s independent professional staff of over 70 researchers, security analysts, economists, and statisticians are dedicated to the principles of objectivity, thoroughness, and accuracy. This unparalleled assemblage of intellectual capital—one of the largest in the world— is truly Value Line’s core asset.

Value Line Institutional ServicesPowerful Thinking for the Global Finance Industry

“…I have yet to see a better way – including fooling around on the internet or anything – that gives me the information as quickly… And I don’t know any system that’s as good.” - Warren Buffett

See the full picture: Past, Present, Future Value Line Institutional products and services paint detailed

pictures of the most significant movements and market trends in the finance industry. They look towards the past by providing detailed historical data, the present by presenting the most up-to-date and in-depth information, and the future by applying our expert analysis to forecast upcoming challenges and opportunities – essentially, painting the whole picture for investors.

See How You Fit in the Picture As a Value Line Institutional client, your insight into the market becomes even sharper as access to new

tools, knowledge, and data transforms the familiar running ticker into a high definition view of stock movements. As a successful institutional investor, you’ll appreciate not just the “what” and the “how” presented in the Institutional Survey, but also the “why.”

Products and Services The Value Line Institutional Survey

Covering 3,500 stocks, across 100 industries, representing 95% of the daily US trading volume

The Value Line Research Center Our premium service, providing online access to Value Line’s leading publications covering stocks, mutual funds, options, and convertible securities, as well as special situation stocks

The Value Line ETF Survey

Data, tools, analysis, and education on all ETFs listed in the United States and Japan

The Value Line Institutional Investment Analyzer Sift through a virtual warehouse of data and search, manipulate, and export only what is meaningful to you, including Value Line’s Ratings Reports, one of the most respected resources in the finance industry

The Value Line Historical Archives

An archived database holding every report issued on the companies we cover dating back to 1997

Value Line DataFiles

Data includes stocks, ETFs, mutual funds, and convertibles

For more information or to request a demonstration, please call 1-800-531-1425 or e-mail is@valueline.com

©2011 Value Line, Inc. All Rights Reserved. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries. All other trademarks are the property of their respective owners.

“I think the Value Line charts are a human triumph. It’s hard for me to imagine a job being done any better. An immense amount of information is given in a very usable form. If I were running a business school, we would be teaching from Value Line charts.” - Charlie Munger, Warren Buffett’s partner, at the Berkshire Hathaway annual meeting

As Value Line enters its 80th year, we take

pride in knowing that our efforts have

helped thousands of Institutional Investors

successfully navigate the stock market

through bull and bear markets.

Clients single out Value Line research

as independent and authoritative – in a

word, the bedrock of investing. Institutions

look to The Value Line Institutional Survey

as the epitome of these standards, basing

major strategic decisions on its steadfast

guidance and market insight.

The Value Line Institutional Survey

Covering 3,500 stocks. Across 100 industries.

Representing 95% of the daily US trading volume.

Backed by 80 Years of Powerful Thinking.

Broad Coverage, Laser Focus: The Value Line Advantage

The Value Line Institutional Survey opens a

vault of investment research, data, expert

analysis, and commentary with a time

proven, easy-to-use stock ranking system:

• PutValueLinetoworkforyou: Value Line

is the leading authoritative investment

information resource that supplies

professionals with volumes of essential data,

sophisticated analytical tools, proprietary

forecasts, and expert guidance — all within

one platform. See the ever expanding

world of opportunities through Value

Line’s wide-angle lens, monitoring over 3,500 large-, mid- and small-cap companies with market values

from less than $1 billion to well over $5 billion.

• Minimizerisk,increasegainsthroughsmallandmid-capinvestments:Often not covered by mainstream

analysts, small and mid-cap companies’ shares are thinly traded and not widely held, making their prices

more sensitive to internal setbacks, as well as to external competitive, economic, or political shocks. While

reliable information can be hard to find, the knowledge held in Value Line’s Institutional Survey creates a

shield of data and analysis that allows you to battle against risks and open doors to substantial gains.

• Investmentknowledgeinhighdefinition:As a Value Line client, your insight into the market becomes

even sharper, as access to new tools, knowledge, and data transforms the world of investing that you know

into high definition. As a successful institutional investor, you’ll appreciate not just the “what” and the

“how” presented in the Institutional Survey, but also the “why.”

• Thedifferencebetweenaverageperformanceandexceptionalperformance:Maximize returns with

Value Line’s data and analysis. Be the most well-informed investor. Boost portfolio performance.

• ANDyou will have unprecedented access to:

BottomLine:ValueLinehelpsyoumakemoney.

A 10-15 year graph of monthly price ranges

Cash flow

Relative price strength

3-5 year target price

Tables showing assets and liabilities

Growth rates

Quarterly sales

Quarterly earnings

Dividends

Projected price appreciation

Information on the company’s Financial Strength

The stock’s Price Stability

Price Growth Persistence

Earnings Predictability

and more...

WhatWeDeliver52WeeksaYear Published weekly with daily updates online, The Value Line Institutional Survey consists of four major

components, spanning large companies to small and mid-cap, allowing our clients to see the full

spectrum of opportunities, as well as those that should be avoided:

• RatingsandReports:Having no investment banking or customer brokerage operations, Value Line

does not benefit from any trades a client may make. This means completely unbiased insight. Full

page industry and company reports include the most accurate ranks, dependable financial data, and

proprietary analysis. Get a quick overview of all the companies we cover and then focus in on those of

greatest interest to you and your company.

• SummaryandIndex:This section lists all covered stocks with recent price, Value Line ranks, and other

Key Performance Indicators. The pages are statistically driven, containing numerous ratings to help

subscribers dig down beneath the reported numbers.

• SelectionandOpinion:This is

where you will find Value Line’s

opinion about the state of the

economy, the outlook for the stock

market, and our current investment

strategy. You’ll also find analysis of

relevant industries, stock highlights

on one or two companies that are

favorably ranked for TimelinessTM

or long-term appreciation potential,

and our well-regarded portfolios

that make investing the Value Line

way very easy.

• CompletethePicturewith

Market-DrivenSupplements:

When warranted by market events

such as mergers and acquisitions

and new company profiles,

supplementary reports analyzing a

company’s news are posted online

almost immediately.

OnlineToolstoMaximizePortfolio Performance

Through online access, you

now have all the tools you

need to stay ahead of your

competitors on our secure

proprietary website.

FREE with your subscription:

• UnlimitedAccesstoReal-

Time,Subscriber-Only

Content: You will have

password-protected access

to each week’s issue with the

latest information including

Timeliness ranks, posted at

8:00 A.M. EST each Monday

that the New York Stock

Exchange is open.

• InformationWhenYouWantIt,WhereYouWantIt:Access the data and analysis you need to make

informed decisions – 24/7, updated weekly.

• SliceandDiceData:Value Line tools help you sift through a warehouse of data, search one of almost

250 data fields, and export what is meaningful to you in a format that can easily integrate with your

resources as a whole. Generate custom reports to zoom in on what matters to you most at that moment.

Since our founding during the Great Depression, Value Line has been committed to our clients’ success.

With online access, discover the key analytics that will put you on top too.

For more information or to request a demonstration, please call 1-800-531-1425 or e-mail is@valueline.com

©2011 Value Line, Inc. All Rights Reserved. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries. All other trademarks are the property of their respective owners.

The Value Line Research Center is a complete, online research destination that comprises all the financial information and analytical tools needed to expand your range of investment vehicles and structure a dynamic professional portfolio — all backed by Value Line’s world-class resources, decades of unquestioned authority, unbiased financial data reporting, astute analysis, and proven securities ranking systems.

Smarter, Faster Access to Powerful Thinking = Smarter, Faster Decision Making

The Value Line Research Center includes — in a single, cost-effective package — research across multiple

asset classes.

• TheValueLineMutualFundSurvey: Reports and ranks on more than 18,000 mutual funds.

• TheValueLineSpecialSituationsService: Offers more aggressive managers and individual investors recommendations on emerging growth stocks with exceptional long-term capital gains potential.

• TheValueLineDailyOptionsSurvey: Daily evaluations and ranks on about 200,000 options, 80,000 longer-term options (LEAPS), and more.

• TheValueLineConvertiblesSurvey: Provides analysis of over 600 convertible issues, nearly 120 warrants, and more in a timely, easy-to-use format.

The Value Line Research Center also includes

historical financial data on nearly 4,000

additional stocks, bringing total coverage

to approximately 8,000 companies.

The Value Line Research CenterYour Gateway to a Powerful Digital Investment Library

DynamicOnlineCapabilities Value Line’s intuitively designed user interface has the built-in speed, convenience, accuracy and

functionality that can transform an average institutional investor into an extremely profitable one:

• Access,store,manageandmanipulatelargevolumesofcriticaldataquicklyandeasily,thusformulatingwell-founded investment strategies and buy/sell decisions.

• Respondimmediatelytochangesinstockperformanceandindustryoutlooks.

• Specifyyourownquantitativevariablestosetupcustomizedstockscreensandcomparecompanies,funds, and other securities.

• Createcustomizedgraphsonhundredsofvariables,andtrackmultipleportfolios,withalerts.

• Getfreestockquotes,companynews,andanalysts’SupplementaryReportsinrealtime.

In the crowded world of investment information, research, and analysis, Value Line offers an incomparable

range of content, potent functionality, and the record of success that our institutional clients have

achieved over the years. The Value Line Research Center is ready to provide you with a solid, broad-based

foundation for expanding your portfolio and increasing revenue.

For more information or to request a demonstration, please call 1-800-531-1425 or e-mail is@valueline.com

©2011 Value Line, Inc. All Rights Reserved. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries. All other trademarks are the property of their respective owners.

Since 1931, Value Line has been a leading provider of unbiased and independent research, helping investors with data, tools, news, and analysis. Backed by a team of experienced financial and industry analysts, Value Line delivers reliable information to help money managers and individual investors make better investment decisions.

The Value Line ETF Survey is exclusively designed for professional clients seeking in-depth research of Exchange Traded Funds (ETFs). The ETF Survey is a comprehensive online resource offering data, tools, analysis, and education on all ETFs listed in the United States and Japan. Provided in the ETF Survey is Value Line’s proprietary Ranking System which quantitatively evaluates and ranks each ETF based on actual and known data. As the number of ETFs available continues to grow and the complexity of these funds increases, the Value Line ETF Survey will allow you to easily navigate toward the funds that best match your investment needs.

The Value Line ETF SurveyFinancial Analysis Exclusively Designed for Professional Investors

Key features include:• User-friendlyscreening on a wide range of categories including Asset Class,

Geography of holdings, Sector, Investment Philosophy, Primary Exchange and more.

• Investmentmetrics to evaluate performance.

• Globalheatmaps to quickly locate holdings in specific regions and countries.

• Weeklyupdates on newly launched ETFs.

Intelligent,Intuitive,Inclusive On a daily basis, Value Line maintains a complete database of every US-listed

ETF, as well as every component and component weight back to inception. The data includes all rebalancing, cash components, excluded assets, and distributions automatically adjusted for on a daily basis, together with the Total Return of the ETF and the Total Return of the corresponding underlying index on a daily basis. ETFs are added and corresponding data made available usually by the first day of trading.

The ETF Survey provides thematic performance, fund flow, and asset allocation data tracking components of most US-listed ETPs. With nearly one trillion in total assets, the data delivers a complete picture of institutional investor flows and passive fund manager allocations driving global markets. The ETF database includes 5,041 Indexes covering every asset-class, sector, and industry in 32 countries.

All ETFs are classified by investment objective. The primary categories are:

•Geography: US, Global, International, Regional, Country specific, Emerging Markets

•Asset Class: Equity, Fixed Income, Commodity, Currency, Real Estate, Multi-asset, Hybrid

• InvestmentPhilosophy: Passive index, Enhanced index, Actively managed, Socially responsible

• IndexComposition: Traditional, Fundamental, Alternative

•Leveraged/Inverse: No Leverage, Leveraged, Inverse, Inverse Leveraged

For more information or to request a demonstration, please call 1-800-531-1425 or e-mail is@valueline.com

The ETF Survey derives the following data for every Exchange Traded Product:

• Bid/AskSpread

• TrackingError

• Efficiency

• MarketImpact

• ConcentrationRisk

• CapitalGainsDistributions

• ShortInterest

• Premium/Discount

• RiskAdjustedPerformance

• AnnualizedReturn

• StandardDeviation

• Momentum

• InterestRateRisk

• YieldToMaturity

• EarningsYield

• DividendYield

• FundExposureby:Sector,Industry,Style,Capitalization,Region,Country,Currency,HardAsset,CreditGrade,Maturity

• AverageWeightedDuration,CouponandMaturity

• LiquiditymetricsbyETFandexchange

• Short&Long-termmovingaveragesforperformanceandfund flows

• PassiveandTacticalAssetAllocationmodels

• Correlation&AttributionAnalysis,andmore...

©2011 Value Line, Inc. All Rights Reserved. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries. All other trademarks are the property of their respective owners.

For 80 years, Value Line has expertly surveyed the markets for stocks on the verge of major profitability and those that investors should avoid. Whether today’s market continues its volatility or begins to stabilize,

what you need is a more reliable and time-tested service for maximizing profits and controlling risks.

The Value Line Investment Analyzer: Your Virtual Partner The Value Line Investment Analyzer is a powerful software service that delivers outstanding professional stock

analysis, featuring Value Line’s proven TimelinessTM Ranking System. Acting as your virtual partner, The Value Line Investment Analyzer allows you to harness Value Line’s sophisticated research to quickly and easily acquire the information needed for better, and more profitable investing.

With over 250 data fields for each stock and a portfolio management module that lets you create and track your stock portfolios, The Value Line Investment Analyzer delivers the financial data you want and the resources you need to use it – advanced screening, sorting, graphing, and reporting on individual

common stocks, industry groups, or portfolios – in one easy-to-use service.

The Value Line Investment Analyzer250 data fields, on 1,700 major stocks, representing nearly 100 industries – at your fingertips

Your Analyzer at Work: Tools to Maximize Portfolio Performance

Unlimited Access to Up-to-Date, Subscriber-Only Content

A subscription to The Value Line Investment Analyzer sets you apart from your competition with access to:

• Value Line’s time-tested full-page reports and analyst commentaries.

• Timeliness, Technical, and SafetyTM ranks on approximately 1,700 stocks.

• Stock quotes and news updated throughout the day.

Slice and Dice Data

Value Line online tools help you sift through a virtual warehouse of data, in a format that can easily integrate with your resources as a whole. The tool gives you the power to:

• Screen more than 250 data fields, on approximately 1,700 major stocks, representing nearly 100 industries

• Monitor an additional 1,800 Small- and Mid-Cap stocks

• Use more than 200 graph options, technical charts, and comparison graphs with up to 10 years of history

• Manipulate over 40 different technical indicators and 20 line studies in chart form, including up to five years price history

• Transaction-based portfolio tracking and real-time pricing updates

Information When You Want It, Where You Want It Through The Value Line Investment Analyzer, you can access the incomparable resource, The Value Line

Institutional Survey, which includes at its core three major components — all powered by the critical tools that you need to take control of your portfolio.

• RatingsandReports:Completely unbiased, full page industry and company reports include the most accurate ranks, financial data, and proprietary analysis in the industry. Get a quick overview of all the companies Value Line covers and the ability to focus on those of greatest interest to you and your company.

• SummaryandIndex:This 40 page report lists all covered stocks with recent stock prices, Value Line ranks, and other Key Performance Indicators. These pages are statistically driven, containing years of historical data.

• SelectionandOpinion:Your weekly newsletter where you will find Value Line’s opinion about the state of the economy, the outlook for the stock market, and our current investment strategy as a whole. Generate custom reports to zoom in on what matters to you most at that moment.

The Value Line Investment Analyzer is the authoritative investment data resource, spanning large companies to small and mid-cap, allowing you to see the full spectrum of opportunities, which you should steer clear of,

and prime prospects that can make your portfolio exceed expectations and earn you exceptional rewards.

For more information or to request a demonstration, please call 1-800-531-1425 or e-mail is@valueline.com

©2011 Value Line, Inc. All Rights Reserved. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries. All other trademarks are the property of their respective owners.

As Value Line enters its 80th year in business, we take pride in knowing that our efforts have helped thousands of Institutional investors successfully navigate the stock market through bull and bear markets.

Clients single out Value Line research as independent and authoritative – in a word, the bedrock of investing. Institutions look to the Value Line Institutional Survey as the epitome of these standards, basing major strategic decisions on its steadfast guidance and market insight.

Value Line Historical Archives: See the full picture A valuable tool for institutional investors, academic users, and library patrons interested in growing a

profitable portfolio, this service provides access to Value Line publications starting from January 1997. With an easy to use search capability, the Historical Report search can help you access previous Selection

& Opinion commentaries and both past and current Summary & Index reports by symbol or issue date.

Access Comprehensive Historical Data• See how a company has been doing over a long time frame

• Discover trends that will guide your company’s investment strategy

• See the market through a wide angle lens, helping you dig down further beneath the reported numbers

• Closely track the state of the economy against market

forces at the time

Available as an additional feature to any online subscription

For more information or to request a demonstration, please call 1-800-531-1425 or e-mail is@valueline.com

Value Line Historical Archives

©2011 Value Line, Inc. All Rights Reserved. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries. All other trademarks are the property of their respective owners.

Dating back to 1955, Value Line DataFile offers institutional users the ultimate in comprehensive historical fundamental data, spanning companies in nearly 100 industries. Updated weekly, Value Line DataFile consists of more than 450 data fields, covering approximately 7,000 active companies traded in North America, including those in key benchmark indices such as the S&P 500, Russell 3000, and the Toronto 300.

Covering the Spectrum: How Our Subscribers Benefit Value Line DataFile includes everything from full balance sheet data and income statement data to capital

and equity structure – everything you need to avoid the mistakes of the past, make sound decisions today,

and profit in the future. Our subscribers choose us because Value Line:

• NeverRewritesthePast… Historical data is “as reported,” not restated, so that you can test models and validate theories reliably.

• GivesYouEveryToolYouNeedinthePresent... Create highly customized analyses, integrating your data with Value Line historical data. Incorporate results into your own proprietary model or spreadsheet package.

• HelpsYouProjecttheFuture... Institutional users now have access to proprietary estimates and ranks on approximately 3,500 stocks, as well as aggregate information on nearly 100 industries — the same group covered by the incomparable Value Line Institutional Survey. The file contains year-ahead estimates and 3- to 5-year projections of company financial performance and stock price performance, developed by Value Line’s team of highly regarded independent analysts. The time-tested Value Line ranks — TimelinessTM, Technical, and SafetyTM — are included, as are performance ranks on approximately 5,000 additional stocks.

Through the Value Line Mutual Fund DataFile, these benefits extend beyond major stocks to leading

North American mutual funds. With historical intelligence going back more than 20 years, This DataFile

delivers 200 data fields on more than 20,000 of the most popular North American equity and bond funds.

Access monthly pricing information, weekly performance data, sector weights, holdings data, per share

data, and more.

Value Line DataFile Products450 Data Fields, 7,000 Companies, 100 Industries… Unrivaled Access

GrowYourClientBase withValueLineDataFiles

Since our founding during the Great Depression, Value Line has been committed to increasing clients’ revenue in both good times and bad. Value Line DataFile, the foundation of this profitable success, has been proven to:

• InstillconfidenceinnewclientsusingValue Line’s proven reputation for unbiased research and insightful analysis.

• Keepyouaheadofthecompetition.

• Helpyouexplorenewstrategieswithconfidence.

• Ultimately,raiseyourportfoliovalue.

For more information or to request a demonstration, please call 1-800-531-1425 or e-mail is@valueline.com

©2011 Value Line, Inc. All Rights Reserved. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries. All other trademarks are the property of their respective owners.