Bernardi Securities, Inc.

Current Corporate Offerings

We offer the following bonds subject to availability, prior sale or change in price.

Corporate Offerings

Qty.	Issue	Cpn.	Maturity Date	Price	YTM	IDC Rating	Call Date	Settle Date
325m	DISCOVER BANK DE Cert. of Deposit FDIC INSD interest at maturity	0.200	8/8/2012	100.000	0.200	300	Non-Call	8-Feb

325m	DISCOVER BANK DE Cert. of Deposit FDIC INSD interest at maturity	0.250	2/8/2013	100.000	0.250	300	Non-Call	8-Feb

500m	GOLDMAN SACHS BK USA Cert. of Deposit FDIC INSD interest at maturity	0.350	2/8/2013	100.000	0.350	253	Non-Call	8-Feb

1mm	GOLDMAN SACHS BK USA Cert. of Deposit FDIC INSD semi-pay	0.600	8/8/2013	100.000	0.600	253	Non-Call	8-Feb

800m	BMW BANK N. AMERICA Cert. of Deposit FDIC INSD semi-pay	0.600	8/12/2013	100.000	0.600	300	Non-Call	10-Feb

500m	FIRSTBANK-PUERTO RICO Cert. of Deposit FDIC INSD monthly-pay	0.650	8/12/2013	100.000	0.650	77	Non-Call	10-Feb

500m	ALLY BANK-MIDVALE UT Cert. of Deposit FDIC INSD semi-pay	0.650	2/10/2014	100.000	0.650	199	Non-Call	8-Feb

800m	BMW BANK N. AMERICA Cert. of Deposit FDIC INSD semi-pay	0.700	2/10/2014	100.000	0.700	300	Non-Call	10-Feb

500m	GOLDMAN SACHS BK USA Cert. of Deposit FDIC INSD semi-pay	0.750	2/10/2014	100.000	0.750	253	Non-Call	8-Feb

500m	ALLY BANK-MIDVALE UT Cert. of Deposit FDIC INSD semi-pay	0.950	2/9/2015	100.000	0.950	199	Non-Call	8-Feb

1mm	GOLDMAN SACHS BK USA Cert. of Deposit FDIC INSD semi-pay	1.050	2/9/2015	100.000	1.050	253	Non-Call	8-Feb

1mm	SAFRA NATL BANK NY Cert. of Deposit FDIC INSD semi-pay	0.750	2/9/2015	100.000	0.750	225	Non-Call	8-Feb

500m	ALLY BANK-MIDVALE UT Cert. of Deposit FDIC INSD semi-pay	1.150	2/8/2016	100.000	1.150	199	Non-Call	8-Feb

1mm	GOLDMAN SACHS BK USA Cert. of Deposit FDIC INSD semi-pay	1.300	2/8/2016	100.000	1.300	253	Non-Call	8-Feb

500m	GOLDMAN SACHS BK USA Cert. of Deposit FDIC INSD semi-pay	1.700	2/8/2017	100.000	1.700	253	Non-Call	8-Feb

725m	GOLDMAN SACHS BK USA Cert. of Deposit FDIC INSD semi-pay	2.200	2/8/2019	100.000	2.200	253	Non-Call	8-Feb

450m	GOLDMAN SACHS BK USA Cert. of Deposit FDIC INSD semi-pay	2.800	2/8/2022	100.000	2.800	253	Non-Call	8-Feb

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May lose principal • Not FDIC insured • Not appropriate for all investors

Past performance does not guarantee future returns

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There are or may be pending in the Congress of the United States legislative proposals, including some that carry retroactive effective dates, that, if enacted, could alter or amend the federal tax matters referred to above or affect the market value of the Bonds. It cannot be predicted whether or in what form any such proposal might be enacted or whether, if enacted, it would apply to bonds issued prior to enactment. Prospective purchasers of the Bonds should consult their own tax advisors regarding any pending or proposed federal tax legislation. We express no opinion regarding any pending or proposed federal tax legislation.

Securities listed as tax-free are free from federal income taxes. State and local income taxes may apply. Please consult with your tax advisor. Taxable equivalency yields are based upon the 35% tax bracket. Securities offered may be subject to the Alternative Minimum Tax.

This text is a current opinion and is subject to change at anytime. This information is taken from sources we believe to be reliable, but we cannot guarantee. Nothing in this document represents a recommendation of any particular strategy, security or investment product. This information is distributed for educational purposes only.

Bernardi Securities, Inc. offerings are made by prospectus or official statement only. Past performance figures are not indicative of future returns. All e-mail correspondence is subject to review. Time sensitive requests such as trade orders and distribution requests must be requested directly through your Investment Specialist. We cannot accept e-mail requests. No part of this publication may be reproduced in any form, without the express written consent of Bernardi Securities, Inc.

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app 09/22/11