DUFF & PHELPS INVESTMENT RESEARCH CO.

PROVIDING FINANCIAL RESEARCH TO INSTITUTIONAL INVESTORS INCLUDING EQUITY ANALYSES FOCUSING ON COMMON STOCK AND CONTAINING INVESTMENT RECOMMENDATIONS, EARNINGS ESTIMATES AND DIVIDEND PROJECTIONS, INDUSTRY GROUP ANALYSES AND ECONOMIC TRENDS ANALYSES, FIXED INCOME RESEARCH PROJECTS INCLUDING CREDIT RATINGS FOR ISSUANCES OF DEBT AND PREFERRED STOCK AND INFORMATION ABOUT THE RELATED ISSUERS