June 2001 ROYAL SECURITIES COMPANY PRIVACY POLICY Our commitment to preserving your trust is paramount. Royal Securities recognizes your expectations when you provide us with your personal matters. We are committed to fulfilling those expectations of trust. For that reason, we have adopted this Privacy Policy. Information we Collect We collect and use information we believe is necessary to administer our business, to advise you about our products and services, and to provide you with proper service. We obtain nonpublic personal information about you from the following sources: ** information we receive from you on applications or other forms, such as your name, address, social security number, assets, and insurance; ** information about your transactions with us, our affiliates or others, such as transaction amounts, account balances, and parties to transactions. "Nonpublic personal information" is nonpublic information about you that we obtain in connection with providing a financial product or service to you for personal, family or household purposes. It does not include information available from government records, widely distributed media (such as phone books), or government mandated disclosures. Information we Disclose Royal Securities does not disclose nonpublic personal information about our customers or former customers to anyone, except as permitted by law. During the normal course of business, Royal Securities may share the nonpublic personal information we collect, as described above, to persons or companies with whom we have contracts to perform functions on our behalf and protect to you from fraud and unauthorized transactions. These include financial services companies such as: mutual fund companies, insurance companies, direct participation companies, and our clearing brokerage firm (RBC Dain Rauscher Inc.(RBCD)). These companies may assist us, for example, in fulfilling your request, processing your transaction, or mailing account statements. Former Customers If your customer relationship with Royal Securities is terminated, we will continue to treat and safeguard your information as described in this notice. Security of Information Royal Securities maintains policies and practices to protect the security and confidentiality of customer information. Our policies limit access to nonpublic personal information to employees who need the information in order to perform their job duties and provide products and services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic information. If you have any questions in regards to this privacy statement please feel free to call us at 616-538-2550 or 1-800-421-3518.