Memorandum on Performance

Bison Bond I Total Returns

It has come to our attention that many of those who view our long term fixed income record have difficulty accepting our performance. This is quite understandable as the numbers are clearly outside the normal range of professionally produced results.

Please note the loss in 1999. Our research has proven that this decline primarily was due to the large number of investors who withdrew from bonds to take advantage of what later proved to be an unprecedented bubble in common stocks. While this movement caused a loss in 1999, one should also know that much of the loss was regained in the first quarter of 2000.

The returns for years 1991 through 2000 were compiled by the CPA firm of Marks, Nelson, Vohland & Campbell LLC in Kansas City. Years 2001-2004 have been compiled by Puthoff & Farmer CPAs in Wichita, and 2005-2009 by Michael Farmer, CPA. Further, all returns are net of maximum Central Plains Advisors, Inc.’s fees of 2%. These numbers are also net of mutual fund fees and custodial fees, but are gross of taxes. Finally, our returns represent an aggregate calculation and may vary from account to account depending on the open/close date of each account or the amount present in each account at the end of each quarter.

Again, we invite you to compare our returns to any other investment you deem appropriate.

Disclosures: This website does not constitute a solicitation to residents of any jurisdiction where the program mentioned may not be available. Information in this website is taken from sources believed to be reliable but its accuracy cannot be guaranteed. Any opinions stated are intended as general observations, not specific or personal advice. This publication is not intended as personal investment advice. Please consult a competent professional and the appropriate disclosure documents before making any investment decisions. There is no foolproof way of selecting an Investment Advisor. Investments mentioned involve risk, and not all investments mentioned herein are appropriate for all investors.

For more information on Central Plains Advisors, Inc., please call 888-735-CPAI for a copy of our Form ADV II, available at no charge upon request. Officers, employees and affiliates of CPAI may have investments in funds discussed herein and others.

The individual account performance figures reflect the reinvestment of dividends and capital gains, and are net of maximum CPAI fees. Past performance may not be indicative of future results and does not guarantee positive returns. The performance results for 1991 through 2009 have been independently compiled by CPAs from information provided by CPAI.

Bonds are subject to certain market risks, including loss of principle. Any illustrations should not be construed as an indication of future performance, which could be better or worse than the period illustrated. The period from 1991-2005 was one of generally rising bond prices. The period from 1991-1999 was one of generally rising stock prices. The period from 2000-2002 was one of generally declining stock prices. The period of 2003-2006 was one of generally rising stock prices. The period of 2004-2007 was one of rising stocks and bonds. The year 2008 experienced a stock market crash and average bond market. 2009 experienced a strong stock market and positive bond market.

Past performance is no guarantee of future results.