Disclosures

This J Lyons Fund Management, Inc web site, www.jlfmi.com, is limited to the dissemination of the results of our market analysis as well as general investment-related information together with possible access to additional publications and links. Accordingly, the publication of jlfmi.com’s web site on the Internet should not be construed by any viewer or prospective or existing client as a solicitation to effect or attempt to effect transactions in securities or the rendering of personalized investment advice over the Internet.

Viewers or prospective or existing clients are solely responsible for choosing investments for their investment purposes based on their own risk tolerance and general circumstances. J Lyons Fund Management, Inc does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to jlfmi.com’s web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Any reference to past performance may not be indicative of future results. Therefore, no viewer or prospective or existing client should assume that future performance of any specific investment or investment strategy, including the investments and/or investment strategies made reference to directly or indirectly by J Lyons Fund Management, Inc in its web site, or indirectly via a link to an unaffiliated third party web site, will be profitable or equal any historical performance level(s).

Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be suitable for a viewer or prospective or existing client’s investment portfolio.

Historical performance results for investment indices and/or categories generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results.

Certain portions of the jlfmi.com web site (i.e. newsletters, articles, commentaries, etc.) may contain a discussion of, and/or provide access to, positions and/or recommendations as of a specific prior date. Due to various factors, including changing market conditions, such discussion may no longer be reflective of current position(s) and/or recommendation(s). Moreover, no viewer or prospective or existing client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from an investment professional.

To the extent that any viewer or prospective or existing client uses any economic calculator or similar device contained within or linked to the jlfmi.com web site, such individuals acknowledge and understand that the information resulting from the use of any such calculator/device, is not, and should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from an investment professional.

J Lyons Fund Management, Inc is neither an attorney nor an accountant, and no portion of the web site content should be interpreted as legal, accounting or tax advice.

J Lyons Fund Management, Inc does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness or relevance of any information prepared by any unaffiliated third party, whether linked to the jlfmi.com web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Each viewer or prospective or existing client agrees, as a condition precedent to his/her/its access to the jlfmi.com web site, to release and hold harmless J Lyons Fund Management, Inc, its officers, directors, owners, employees and agents from any and all adverse consequences resulting from any of his/her/its actions and/or omissions which are independent of his/her/its receipt of access to the jlfmi.com web site.

J Lyons Fund Management, Inc. is an Illinois Registered Investment Advisor founded in 1985.