Memo #
19190

STAMP PAPERLESS LEGALS PROGRAM

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©2005 Investment Company Institute. All rights reserved. Information may be abridged and therefore incomplete. Communications from the Institute do not constitute, and should not be considered a substitute for, legal advice. [19190] September 23, 2005 TO: OPERATIONS COMMITTEE No. 21-05 TRANSFER AGENT ADVISORY COMMITTEE No. 52-05 RE: STAMP PAPERLESS LEGALS PROGRAM The Securities Transfer Association ("STA") has provided a summary of the STAMP Paperless Legals program. The attached document is meant to facilitate your organization’s independent evaluation of participation in the Paperless Legals program. The STA has also provided us with the STAMP 2004 Annual Report and two memoranda from Bob Appel, STAMP’s outside counsel, on legal aspects of the Paperless Legals concept. If you would like to receive copies of these other documents, please contact the undersigned at 202-326-5850 or butler@ici.org. Diane M. Butler Director – Transfer Agency & International Operations Attachment (in .pdf format)

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