Policies and Notices for Your Review:
In recent years, trading in stocks, particularly technology or sector stocks, has become much more volatile in terms of price movement and volume. At the same time, ease of trading and access to credible and non-credible news has increased dramatically. As a result, more traders than ever are now using sophisticated trading techniques.

Critical Trading Information:

• Trading in securities is a highly sophisticated activity.Techniques such as frequent trading in a security, market timing, using of margin and options (in particular, multiple option positions) are extremely complex and should only be used by investors with a thorough understanding of the strategies. Trading in complex strategies increases the risk of loss. In some strategies, investors risk losing their entire investment and can lose more than their investment.

BB&T Investment Services, Inc. is not intended for customers who use high-risk investment strategies, in particular, day trading and short sales.

Important Advisories:

• Understand the difference between a market order and a limit order.

• A market order is an order to buy or sell a security at the best available price, once the order is received in the marketplace. A market order is executed without regard to price, and the execution may be at a price significantly different from the current price quoted for the security.
• A limit order is an order to buy or sell a security at a specified price or better. In the case of a buy, the order will not be executed above the limit price. Conversely, in a sell, the order will not be executed below the limit price.
• Limit orders protect investors from significant price movements. It is important you understand how to use limit orders to protect your investments from volatile price movements. You must also realize there is a possibility that limit orders may not be executed.

• Access to BB&T Investment Services, Inc. during volatile market conditions may be difficult.
  There may be periods of time when investors may be unable to access their accounts, particularly during periods of high volume or volatility. Investors trading electronically may have difficulty accessing their accounts due to high online traffic or because of systems' capacity limitations. During down times, we will work to ensure that access to electronic systems is restored as quickly as possible. Market losses may result if online service is interrupted. If your online service is interrupted, please call our Trading Desk at 1-800-453-7348 to enter your orders by phone.

• There may be trading delays under volatile market conditions.
  Trading at market opening and during periods of high volume and volatility may cause delays in order executions and may result in executions at prices significantly different from the market price quoted or displayed at the time the order was entered. You must understand that market makers may execute orders manually or reduce their size guarantees during periods of volatility, possibly resulting in delays in order execution and losses. Trading IPOs after they have entered the secondary market can be risky. Prices can change quickly and result in executions substantially away from the market price at the time of order entry.

• The ability to cancel an order is limited.
  Market orders CANNOT be cancelled. Please do not attempt to cancel and replace a market order online. When doing so, you risk creating duplicate orders that are executed and ultimately become your responsibility.