Waivers of Deferred Sales Charges

How Sales Charges are Calculated / Reducing Your Sales Charges /

Waivers of Deferred Sales Charges / Reinstatement Privilege /

WAIVERS OF DEFERRED SALES CHARGES

The deferred sales charge that may be charged on investments in excess of $1 million that are sold within one year of the last day of the month of purchase will be waived in the case of:

Sales of shares held at the time you die or become disabled (within the definition in Section 72(m)(7) of the Internal Revenue Code, which relates to the ability to engage in gainful employment), if the shares are: (1) registered either in your name (not a trust) or in the names of you and your spouse as joint tenants with rights of survivorship; or (2) held in qualified corporate or self-employed retirement plan, IRA, or 403(b) Custodial Account, provided, in any case, that the sale is requested within one year of your death or initial determination of disability.

Sales in connection with the following retirement plan �distributions�: (1) lump-sum or other distributions from a qualified corporate or self-employed retirement plan following retirement (or, in the case of a �key employee� of a �top heavy� plan, following attainment of age 59�); (2) distributions from an IRA or 403(b) Custodial Account following attainment of age 59�; or (3) a tax-free return of an excess IRA contribution (a �distribution� does not include a direct transfer of IRA, 403(b) Custodial Account, or retirement plan assets to a successor custodian or trustee). The charge also may be waived upon the tax-free rollover or transfer of assets to another retirement plan invested in the Fund. In such event, as described below, the Fund will �tack� the period for which the original shares were held on to the holding period of the shares acquired in the transfer or rollover for purposes of determining what, if any, deferred sales charge is applicable in the event that such acquired shares are redeemed following the transfer or rollover. The charge also may be waived on any redemption that results from the return of an excess contribution pursuant to Section 408(d)(4) or (5) of the Code or the return of excess deferral amounts pursuant to Code Section 401(k)(8) or 402(g)(2). In addition, the charge may be waived on any minimum distribution required to be distributed in accordance with Code Section 401(a)(9).

Sales of shares in connection with the Systematic Withdrawal Plan, subject to certain conditions described in the prospectus.

All waivers will be granted only following the Fund�s distributor receiving confirmation of your entitlement. If you believe you are eligible for a deferred sales charge waiver, please contact your Service Organization. In order to obtain a waiver, you may be required to provide information and records, such as account statements, to your Service Organization. Please retain all account statements. The records required for a deferred sales charge waiver may not be maintained by the Fund, its transfer agent, or your Service Organization.

For more information about sales charges, please consult your Service Organization, or refer to the Fund�s prospectus.