The purchase of CDF securities is subject to risks, which are described in CDF’s Offering Circular. This is neither an offer to sell nor a solicitation of an offer to buy Church Development Fund securities. Such an offer is made only by an Offering Circular and only in those states where the Church Development Fund securities may lawfully be offered or sold. CDF securities are not F.D.I.C. or S.I.P.C. insured nor are they bank deposits.