Dear Friends, I am excited to announce that Mead, Adam & Company was acquired in March, 2009 by Cincinnati based Johnson Investment Counsel. As I have discussed this acquisition with clients, two questions have been the most common; “Why now?” and “Why Johnson Investment Counsel?” I thought it might be helpful if I reiterated my reasoning in this letter. Why Now? "Why now?" relates to keeping the best interests of our clients at the center of everything that happens at Mead, Adam & Company. I plan to work full time for the next five years, but I recognize that it is only prudent for me to look beyond that and think about succession planning. I have been thinking about how I can best ensure that clients’ current and future needs will be met in a way that will provide peace of mind. I have felt that a partnership with another firm that shares our values and focus on the client would be the best way to maintain high service levels. I have always known that developing any partnership would involve a transition process, and I have never wanted to rush through that process. Given my personal work plans, this allows me to make sure the right transition occurs as opposed to working through the process hurriedly or haphazardly when the inevitable twists and turns of life come into play. Why Johnson Investment Counsel? My search for a strategic partner centered on two fundamental criteria. First, the integrity of the firm and its employees would have to be beyond reproach. Second, the service levels of the firm would have to be of the highest quality. Johnson Investment Counsel satisfies both these criteria. As I have interacted with the Johnson Investment Counsel employees over the past year, it has been very evident that both our firms share similar core values and are centered on doing what is best for client. I am also very excited about the breadth of services that we will be able to offer by bringing together two premier wealth management firms. Johnson Investment Counsel is Ohio’s largest independent employee owned wealth management firm, managing nearly $4.0 billion in assets. The Johnson Trust Company is one of only two independent trust companies in Ohio. Johnson will keep its Cincinnati office, our Dayton office and our Columbus office open, and all our portfolio managers and administrative staff will become part of the Johnson Investment Counsel organization. So you can count on hearing our voices and seeing our faces as we continue to work to manage your assets. In addition, Johnson Investment Counsel’s staff of 82 employees (including 25 shareholders, 23 portfolio managers, seven research analysts, 22 Chartered Financial Analysts, and six Certified Financial Planners,) will be at our service to help. Thanks for your friendship and support. All of us at Mead, Adam look forward to continuing to serve you as we navigate these unusual economic times. Sincerely, Jack H. Adam Cincinnati 3777 West Fork Road Cincinnati, Ohio 45247 tel. 513-661-3100 fax 513-661-3160 800-541-0170 Columbus 100 E. Broad Street Suite 2300 Columbus, OH 43215 tel. 614-365-9103 fax 614-365-9943 866-365-4523 Dayton 40 North Main Street Suite 2110 Dayton, OH 45423 tel. 937-461-3790 fax 937-461-2969 800-851-9114