Disclosure Information:

IMPORTANT DISCLOSURE INFORMATION:

New York Stock Exchange Listed Securities -
Mesirow Financial, Inc. ("MSRO") routes orderflow to the 
New York Stock Exchange for execution.  MSRO does not 
receive any payment for orderflow from the New York Stock 
Exchange.  MSRO acts as a market maker for NYSE Listed 
preferred securities and closed-end funds.  MSRO makes 
markets in approximately three hundred preferred securities 
and/or closed-end funds and may execute eligible orders 
received from clients and other broker dealers against the 
firm's proprietary inventory.  MSRO realizes 100% of any 
trading profits generated from trading with client orders 
as principal.


Nasdaq Listed Securities -
MSRO routes orderflow to other Firm's/ECN's which it has 
agreements with, however MSRO does not receive any payment 
for orderflow from these entities. MSRO acts as a market 
maker for NYSE Listed preferred securities and closed-end 
funds.  MSRO makes markets in approximately three hundred 
preferred securities and/or closed-end funds and may 
execute eligible orders received from clients and other 
broker dealers against the firm's proprietary inventory.  
MSRO realizes 100% of any trading profits generated from 
trading with client orders as principal.


American Stock Exchange listed Equities -
MSRO routes its orderflow to the American Stock Exchange 
for execution.  MSRO does not receive any payment for 
orderflow from the American Stock Exchange.


Exchange Listed Equity and Index Options -
MSRO routes its option orderflow to Citigroup Global 
Markets for execution.  MSRO receives payment for orderflow 
from Citigroup Global Markets based on MSRO's volume and 
activity.