On February 20, 2008, The Alexander Hamilton Institute for the Study of Western Civilization, Inc. (“AHI”) filed Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal RevenueCode, with the Internal Revenue Service (“IRS”). After receiving the application, the IRS will acknowledge receipt of the application in writing usually within 21 days from the postmark date of the Form 1023. Thereafter, it is expected that a determination letter will be received within six months time. It is assumed that the AHI will receive a favorable 501(c)(3) determination from the IRS at that time. Please note that the determination made by the IRS will be retroactive to September 10, 2007, the date of incorporation of the AHI.