IMPORTANT DISCLOSURES

New Century Advisors, LLC (New Century) is an SEC registered investment adviser located in Chevy Chase, Maryland. New Century and its representatives are in compliance with the current filing requirements imposed upon SEC registered investment advisers by those states in which Company maintains clients. New Century may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. New Century's web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of New Century's web site on the Internet should not be construed by any consumer and/or prospective client as New Century's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by New Century with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of New Century Advisors, LLC, please contact the SEC or the state securities regulators for those states in which New Century maintains a notice filing. A copy of New Century's current written disclosure statement discussing New Century's business operations, services, and fees is available from the firm upon written request. New Century 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 New Century's web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by New Century), will be profitable or equal any historical performance level(s).

Certain portions of New Century's web site (i.e. newsletters, white papers, etc.) may contain a discussion of, and/or provide access to, New Century (and those of other investment and non-investment professionals) opinions 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 opinions and/or recommendation(s). Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from New Century, or from any other investment professional. New Century Advisors, LLC is neither an attorney nor an accountant, and no portion of the web site content should be interpreted as legal, accounting or tax advice.

Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if New Century is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of New Century by any of its clients. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser.

Each client and prospective client agrees to release and hold harmless New Century Advisors, LLC, 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 personalized individual advice from New Century Advisors. LLC.

Disclosure

New Century Advisors, LLC (NCA) is an SEC registered investment advisor located in Chevy Chase, Maryland. NCA is in compliance with the current registration and/or notice filing requirements imposed upon SEC registered investment advisors by those states in which it maintains clients. NCA may only transact business in those states in which it is registered, or qualify for an exemption or exclusion from registration requirements. The NCA website is limited to the dissemination of general information pertaining to NCA's investment advisory services. Accordingly, NCA does not, and will not, effect or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication with a prospective client shall be conducted by a representative of NCA who is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

Privacy Policy

The U.S. Securities and Exchange Commission has adopted Regulation S-P, "Privacy of Consumer Financial Information," which applies to, among other things, brokers, dealers, investment companies and registered investment advisers. Generally speaking, Regulation S-P requires that these entities limit their use of certain non-public personal information they may learn about you, such as your name, occupation and financial history. In addition, state laws may further limit these entities' use of such information. As a registered investment adviser, New Century Advisors, LLC (NCA) is required to provide our clients with an annual notice describing our privacy policies and practices. The policies described below apply both to current clients and to individuals who no longer have a relationship with NCA.

Information We Collect. In order to provide our services to you we collect non-public personal information about you from the following sources: (1) information we receive from you on brokerage account applications, investment advisory contracts or other forms or that you otherwise provide, such as your name, birth date, telephone number, social security number, tax identification number, bank account information, address and income;(2) information about transactions in accounts managed by NCA, such as your trading history and account balance; and (3) information we may receive from non-affiliated third parties.

How We Use This Information. In general, the information we collect is used for the purpose of providing you with the services you have requested in the manner you have requested them. While we may use the information we collect for purposes of marketing our services to you, we do not sell or rent any information about you, including any personally-identifying information. We have no intention of doing this in the future. Nor do we share your personal information with non-affiliated companies so that they may market their products or services to you or engage in joint marketing with us. We have no intention of doing this in the future.

Who Has Access To This Information? We make no disclosure of any non-public personal information we collect to any non-affiliated third parties other than to government regulatory agencies or as otherwise permitted or required by law. For instance, we may provide some non‐public personal information to service providers so that we (and the service providers) can provide services to you. As one example, non-public personal information that we collect from you and your transactions with us or non-affiliated third parties is shared with financial services providers, such as the custodians that handle the securities custody and trading for your portfolio(s). These service providers are contractually prohibited from disclosing or using this information for any purpose other than that for which it was disclosed. We also may disclose your non‐public personal information when we believe such disclosure is required to comply with a legal requirement, such as in response to a court order, subpoena or in the course of a legal proceeding. We may also disclose personal information as otherwise permitted by applicable law.

Business Transfers. If there is a change of control in NCA's business (whether by merger, sale, or otherwise), our client information could be sold as part of that transaction and your non-public personal information could potentially be used by the purchaser. However, if the purchaser materially changes this privacy statement or the information-handling practices described herein, such changes will be described to you and you will have the ability to opt-out of any proposed changes in the way your non-public information will be used, if such opt-out right is required under the law.

How We Protect Your Information. At NCA, the security and confidentiality of our clients' non-public personal information is carefully guarded. We restrict access to non-public personal information about you to those service providers, or employees of NCA who need to know that information in order to provide products or services to you. NCA does not construct or sell any list, description or other grouping of our clients' non-public personal information derived from information that is not publicly available. We have no intention of doing so in the future.

In order to protect your non-public personal information, we maintain physical, electronic and procedural safeguards that comply with applicable standards.

Your Right to Review Your Information. You may, if you wish, request that we send you a summary of the information we have collected about you, and you may seek correction of information you believe to be inaccurate.

Please be assured that we at NCA are committed to protecting the privacy and confidentiality of your non-public personal information. If you have questions about this notice or about how your confidentiality is being protected, please do not hesitate to call us at (240) 395-0550.