| FOR IMMEDIATE RELEASE: |
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| CONTACT: |
| Kevin Traster |
| MFFAIS.com |
| Voice Phone Number: (501) 640-6454 |
| Email Address: kevin@mffais.com |
| Website: http://www.mffais.com |
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MFFAIS, VANGUARD GROUP - OH MY, AGAIN! |
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| Long Beach, California, August 6th, 2008 - On August 6, 2008, MFFAIS.com reported in a number of articles that the Vanguard Group was selling most of the shares of most their holdings. MFFAIS.com is sensitive to the upset these articles may have caused. This is MFFAIS.com's official response to the various criticism and remarks made in the wake of these articles. |
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| Thus far, all major "errors" that MFFAIS.com has been accused of pertaining to Vanguard Group and other funds, have been errors indeed, but on the part of the funds' filings on the 13Fs. These errors include: the checking of the wrong box on an amendment, erroneous reporting of the wrong company/shares by each fund itself and incorrect formatting filed per the SEC instructions (i.e. Column 4 should be "Value", Column 5 should be "Number of Shares followed by 'SH'"). |
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| Below is a quote from section 12.b.v of the SEC instructions on the format to be used for 13Fs filings: |
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| Column 5. Amount and Type of Security. Enter in Column 5 the total number of shares of the class of security or the principal amount of such class. Use the abbreviation "SH" to designate shares and "PRN" to designate principal amount. If the holdings being reported are put or call options, enter the designation "PUT" or "CALL," as appropriate. security or the principal amount of such class. Use the abbreviation "SH" to designate shares and "PRN" to designate principal amount. If the holdings being reported are put or call options, enter the designation "PUT" or "CALL," as appropriate. |
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| Our Sources For Vanguard Group holdings: |
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| On August 5, 2008, Vanguard Group filed this report for CPOR of 20080630
http://www.sec.gov/Archives/edgar/data/102909/000093247108001432/0000932471-08-001432.txt) |
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| MFFAIS.com consolidated this information to surmise the activity of Vanguard Group using the instructions of "Number of Shares" in Column 5 followed by "SH" - per the SEC format. |
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| MFFAIS.com acknowledges that Vanguard may have simply switched Column 4 (Value) and 5 (Shares) when released for public record or they may have simply incorrectly labeled Columns 4 & 5. We are in no position to second-guess what Vanguard Group intended. |
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| In any case, MFFAIS.com works to compile information relating to various funds verbatim from the official filings made to the SEC and expects the SEC format to be followed. As such, while we appreciate and encourage all feedback on our web site, we are not responsible for any inaccuracies and errors made by funds/institutions filed with the SEC and reported through us. |
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| ABOUT MFFAIS.com - MFFAIS.com is a new web site dedicated to providing individual investors with information listed on public record in an accessible and useful format, to make investing a more concrete sport. For additional information on MFFAIS.com or opportunities to support the forum, contact Kevin Traster or visit www.mffais.com. |
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