ROTH IRA TRADITIONAL IRA Maximum Annual Contribution Limits for 2007 $4,000 under age 50; $5,000 age 50 and over $4,000 under age 50; $5,000 age 50 and over Contribution Eligibility Any age, as long as 2007 modified AGI does not exceed: $114,000 for single filers $165,000 for joint filers Account owner must be under age 70 Tax Advantages Earnings may be withdrawn after age 59 tax-free, provided the account has been open for 5 years Earnings grow tax-deferred until withdrawal Contributions may be tax-deductible Withdrawals Earnings cannot be withdrawn without a penalty until the account has been open for 5 years No Required Minimum Distribution (RMD) at age 70 Earnings and tax deductible contributions are taxd as ordinary income when withdrawn after age 59 A Required Minimum Distribution (RMD) must begin after age 70 You may contribute simultaneously to a Traditional IRA and a Roth IRA (subject to eligibility) as long as the total contributed to all (Traditional and/or Roth) IRAs equals no more than that year's contribution limit. The contribution limit is the lesser of the maximum noted above or 100% of earned income. For Traditional IRAs - If you withdraw before age 59½ you may be subject to a 10% early withdrawal penalty unless the following exceptions apply: qualified higher education expenses; qualified first home purchase (lifetime limit of $10,000); certain major medical expenses; certain long-term unemployment expenses; disability; or substantially equal periodic payments. For Roth IRAs - Roth IRA contributions can always be withdrawn at any time without penalty. Withdrawals of any earnings before age 59½, or before the 5 year aging requirement has been satisfied, may be subject to a 10% early withdrawal penalty unless the following exceptions apply: qualified higher education expenses; qualified first home purchase (lifetime limit of $10,000); certain major medical expenses; certain long-term unemployment expenses; disability; or substantially equal periodic payments. Neither Banc of America Investment Services, Inc. nor any of its subsidiaries are tax or legal advisors. We suggest you consult your personal tax or legal advisor before making tax or legal-related investment decisions.