Robert Donahue

Headquartered in Concord, Massachusetts, Municipal Market Advisors (MMA) is a specialized analytical firm for the municipal bond market. They provide services to a diversified client base, which includes: investment banks, hedge funds, financial advisors, issuers and insurance companies. The firm formulates top-down strategies in the tax-exempt and broader interest rate markets. Their research places current market conditions in a historical context in order to increase the probabilities of success for transactions in the municipal cash and derivative markets. MMA's research is a focused review and look ahead to influential factors and events in the tax-exempt bond market. Both micro and macro issues that exert pressure and create opportunity are evaluated by MMA. MMA was founded in 1995.

FMR LLC engages in the provision of financial and investment services. It offers financial planning and advice, wealth management, retirement plans, trading and brokerage services, and investment products. The company was founded by Edward C. Johnson II in 1946 and is headquartered in Boston, MA.

T. Rowe Price Associates, Inc. (Price Associates) is a SEC-registered investment advisor and mutual fund manager headquartered in Baltimore, Maryland. The firm was founded by Thomas Rowe Price, Jr. in 1937. They are a subsidiary of the T. Rowe Price Group, Inc. (NASDAQ: TROW), which was formed in 2000 as the publicly traded parent holding company of Price Associates and their affiliated entities. Price Associates offers a variety of mutual funds, sub-advisory services and separate account management for individual and institutional investors, retirement plans and financial intermediaries.