G. T. Murray Group Inc. (GTM) provides market timing services to individuals, joint tenants, trusts, partnerships, IRAs and other retirement plans. Market timing services provided are limited to the timing of switches between equity mutual fund shares and/or variable annuity contract units and money market mutual fund shares designated by GTM. This investment approach may not be suitable to all investors. GTM does not have custody of clients' securities or funds. The timing services performed for clients are limited to discretionary authority using no-load mutual funds and variable annuities designated by GTM. GTM's power of attorney is limited to making discretionary exchanges referred to above. G. T. Murray Group Inc.'s timing program is marketed directly by GTM officers and directors and a limited number of approved GTM representatives. GTM does not receive any fees from nor does it participate in any commission sharing program with any brokers or broker/dealers. The market timing fee charged by GTM for services is the same whether the client is referred to GTM by a GTM representative or is solicited directly by an employee/officer/director.