TENNESSEE TAX-FREE SHORT-TO-MEDIUM SERIES (TTSMX)

CURRENT STATISTICS: Yields as of : 05/17/2012     30 Day Distribution Yield at 2.13% 30 Day Compounded Yield 2.15% 30 Day SEC Yield -0.11% AVERAGE ANNUAL TOTAL RETURNS as of: 04/30/2012 (Annualized) for the periods ending: One Year 4.46% Three Years 3.73% Five Years 3.90% Ten Years 3.43% EXAMPLES OF TAX EQUIVALENT YIELDS: For the 30 day period ending on: 04/30/2012 Tax-Equivalent Yield Federal Tax State Tax Combined Tax Distributed Reinvested 15% 6.00% 20.10% 2.603% 2.628% 25% 6.00% 29.50% 2.950% 2.979% 28% 6.00% 32.32% 3.073% 3.103% 33% 6.00% 37.02% 3.303% 3.334% 35% 6.00% 38.90% 3.404% 3.437%

Yield data shown is based on calculations as further explained in the Statement of Additional Information which is available upon request. The 30 Day Distribution Yield represents the annualized average dividend divided by the average number of shares for the past 30 days. The 30 Day Compound Yield represents the 30 Day Distribution Yield compounded monthly for those shareholders who elect to reinvest dividends. Performance data shown represents past performance and is not a guarantee of future results.  Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Investors may call 1-800-866-0614 to obtain performance data current to the most recent month-end.