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DRIP Spiel (sp)

As promised. (Enjoy in all its splendor)

DRIPs (Dividend Reinvestment Plans)

DRIPs allow the purchase of stock directly from a company.  Currently
approximately 1000 companies offer DRIPs.

Key advantages:
o No commission or broker's fee
o Economical for regular purchase of small sums

 The following caveats apply:

o All dividends are automatically reinvested in stock.  This eliminates
the overhead and cost associated with distributing, and tracking
dividend payments.   Note that dividends re-invested are still
considered to be taxable income to be reported on form 1099.

o Stock purchases occur in batch mode, with the timing determined by the
DRIP agent.  These purchases may be weekly, monthly, quarterly,
semi-annually, or on any arbitrary schedule.  The purchase price per
share is market determined at the point of batch purchase.

o Each issuer of shares determines its own requirements for
participation in the DRIP program.  This can include minimum purchase
amount, fees assessed, timing of purchasees, etc.  Please note that fees
may be assessed.

o NAIC offers its own plan "The Low Cost Investment Plan" - participates
in DRIP programs of many companies, . . .
- Opened with price of a single share
- One time $7 fee deducted from share
- 8-12 week delay (min) before setup
- At setup, relationship is directly established with company