529 College Savings Plans

A 529 plan is a flexible college investment program sponsored and administered by an individual state. Most states contract with one or more financial institutions to handle investment management and administrative aspects of their 529 plans. The investment options typically are mutual fund portfolios.

Withdrawals are federally tax free (and state tax free in most cases) as long as they are used to finance qualified expenses at any accredited U.S. public or private college or university.* (Expenses for elementary and secondary schools are not covered.) Nonqualified withdrawals are subject to ordinary income taxes and a 10% penalty tax. Eligibility to contribute to a 529 plan is generally not restricted by income. 529 plans generally have no age limits for beneficiaries.

* Withdrawals used for expenses other than qualified education expenditures may be subject to a 10% penalty tax, as well as federal and state income taxes. Federal tax-free status is scheduled to expire in 2011 unless extended by Congress.

MTB Investment Advisors, Inc., a subsidiary of Manufacturers and Traders Trust Company ("M&T Bank"), is the investment advisor to the MTB Group of Funds.

The MTB Group of Funds are available from M&T Securities, Inc. (member FINRA/SIPC), a broker-dealer subsidiary of M&T Bank, and other authorized broker-dealers. ALPS Distributors, Inc., which is not affiliated with M&T Bank, is the distributor of the MTB Group of Funds.

For more complete information, please download the funds' prospectuses available on this website or call 1-800-836-2211 for copies. You should consider the funds' investment objectives, risks, charges and expenses carefully before you invest. Information about these and other important subjects are in the fund's prospectus, which you should read carefully before investing.