REPURCHASE OF MORGAN KEEGAN UNDERWRITTEN AUCTION RATE SECURITIES – FINAL PHASE UNDERWAY
Morgan Keegan’s voluntary repurchase program for auction rate securities held in Morgan Keegan accounts has been ongoing since February 2009. The initial phase of this program focused on auction rate securities that Morgan Keegan underwrote and sold. By the end of 2009, we completed the repurchase of all Morgan Keegan underwritten ARS held by individual investors, including securities that had been transferred to other brokerage firms. The final phase of the program announced on June 29, 2011, will encompass all remaining auction rate securities sold by the firm and held by retail investors in Morgan Keegan accounts.
By working with issuers, and through this repurchase program which is voluntarily funded by Morgan Keegan, we have been able to restore liquidity to retail clients who had purchased approximately $2 billion of auction rate securities through the firm. Participants in the repurchase program have not lost a penny on their auction rate investments – the program returned 100% of principal and interest. Morgan Keegan will continue to work on a best efforts basis to address the liquidity needs of institutional investors.
OFFER TO PURCHASE AUCTION RATE SECURITIES SOLD BY MORGAN KEEGAN – JUNE 29, 2011
Morgan Keegan & Company is offering to purchase certain auction rate securities issued by Jefferson County, Alabama, that Morgan Keegan sold, the auctions for which are not clearing, which we refer to as the Eligible Securities, upon the terms and subject to the conditions set forth in the offer. To be eligible for this offer, the Eligible Securities must have been sold by Morgan Keegan to a Morgan Keegan account and maintained in a Morgan Keegan account continuously since purchase. To determine whether you are an Eligible Holder, please consult the Offer to Purchase.
All Eligible Holders holding Eligible Securities will receive by mail an Offer to Repurchase along with an Acceptance Form that must be returned by the stated deadline in order to participate in the repurchase program.
View the Offer to Purchase dated June 2011 
See the Frequently Asked Question section of this section for further information on this offer. Other questions about the Offer to Repurchase should be directed to Morgan Keegan’s Reorg Department at 1-877-901-3239.
Acceptance forms may be submitted by the stated deadline by fax to 901-529-5371 or by mail to:
Morgan Keegan & Company
Attn: Reorg Department
50 N. Front Street, 4th floor
Memphis, TN 38103
