CLIENT CORRESPONDENCE

CHOOSE ONE JUNE 7, 2010 APRIL 15, 2010 APRIL 6, 2010 MARCH 23, 2010 OCTOBER 27, 2009 AUGUST 7, 2009 JUNE 11, 2009 MARCH 27, 2009 FEBRUARY 2, 2009 DECEMBER 30, 2008 DECEMBER 29, 2008 NOVEMBER 25, 2008 NOVEMBER 18, 2008 OCTOBER 30, 2008 OCTOBER 27, 2008 OCTOBER 24, 2008 OCTOBER 24, 2008 OCTOBER 10, 2008 SEPTEMBER 30, 2008 SEPTEMBER 12, 2008 JULY 17, 2008 APRIL 3, 2008 MARCH 26, 2008 FEBRUARY 22, 2008 FEBRUARY 13, 2008 DECEMBER 26, 2007 DECEMBER 19, 2007 DECEMBER 6, 2007 NOVEMBER 7, 2007 OCTOBER 30, 2007 OCTOBER 1, 2007 AUGUST 2, 2007 JULY 23, 2007 JULY 11, 2007 JULY 3, 2007 JUNE 22, 2007 APRIL 18, 2007 MARCH 9, 2007 FEBRUARY 6, 2007 FEBRUARY 2, 2007 DECEMBER 29, 2006 DECEMBER 6, 2006 NOVEMBER 29, 2006 NOVEMBER 10, 2006 NOVEMBER 8, 2006 OCTOBER 9, 2006 SEPTEMBER 27, 2006 SEPTEMBER 12, 2006 MAY 15, 2006 MAY 12, 2006 MAY 9, 2006 MARCH 21, 2006 FEBRUARY 9, 2006 JANUARY 27, 2006 JANUARY 24, 2006 DECEMBER 16, 2005 DECEMBER 8, 2005 OCTOBER 6, 2005 SEPTEMBER 20, 2005 JULY 19, 2005 JUNE 20, 2005 MAY 23, 2005 APRIL 18, 2005 JANUARY 14, 2005 JANUARY 7, 2005 DECEMBER 15, 2004
June 7, 2010

Dear Valued Client:

The Securities and Exchange Commission (SEC) announced that in response to the market disruption of May 6th, 2010 the national securities exchanges and the Financial Industry Regulatory Authority (FINRA) have filed proposed rules in which they would pause trading in certain individual stocks if the price moves 10 percent or more up or down in a five minute period. This trading pause pilot is scheduled to begin no later than June 14th. The pilot would initially cover S&P 500 stocks with the possibility of other securities being added during the course of the pilot program.

The following will take place in the event of a trading pause:

• Orders received before, during and after the halt will be held open on our book and remain in force until the primary Listing Exchange resumes trading;
• Upon resumption of trading after a pause, orders entered prior to, or during the pause will be managed by routing to the primary listing market and handled on a best efforts basis commensurate to market conditions that may exist;
• Knight will continue to accept cancelations and or modifications during the trading halt, which will be handled on a best efforts basis.

Knight will assess these protocols as the pilot progresses. Based on specific circumstances and client requests we may modify these protocols.

For more information on the proposed trading pause, please access the following links:

http://www.sec.gov/news/press/2010/2010-80.htm

http://www.nyse.com/pdfs/NYSERule80c_FAQ.pdf

http://www.nasdaqtrader.com/TraderNews.aspx?id=ERA2010-3

Knight is closely monitoring the developments of these rules and is available to discuss with you how we expect the rule to operate. Please contact your Knight Sales Representative or Client Services at 1-888-931-HELP with any questions.

Thank you,

Tonya Walker

Director - Broker-Dealer Client Services

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