H&Q Healthcare Investors and H&Q Life Sciences Investors announced with profound sadness the death of Lawrence S. Lewin, Chairman of the Board of Trustees of each Fund. Mr. Lewin died on Sunday, April 29 th, after a lengthy illness, and was 74 years old. Mr. Lewin was born in New York City. He earned an A.B. degree from Princeton’s Woodrow Wilson School of Public and International Affairs and a M.B.A. from the Harvard Business School, where he was a Baker Scholar. Mr. Lewin was proudest of his service as an officer in the U.S. Marine Corps. He also served as a member of the Board of Regents at the Uniformed Services University of the Health Sciences and as a member of the Congressionally mandated Task Force on the Future of Military Medicine. Mr. Lewin founded the Lewin Group in 1970 and served as its Chief Executive Officer until he retired in 1999. He directed a wide range of projects in health policy and finance, academic medicine, public and private health insurance, technology and market assessment of medical devices and pharmaceutical products, strategic visioning and planning, and health systems management and governance. Over the course of his forty year career, Mr. Lewin had a major role in shaping healthcare in the United States. Mr. Lewin was a Trustee of H&Q Healthcare Investors since 1987 and of H&Q Life Sciences Investors since 1992 and Chairman since 2000. Mr. Lewin also served as a board member for a number of healthcare companies, including Intermountain Health Care, Cardionet, and Medco Health Solutions, and was a member of the Institute of Medicine, receiving the Institute’s Yarmolinsky Medal for Distinguished Service in 2004. H&Q Healthcare Investors (NYSE: HQH) is a closed-end fund that invests in public and private companies in the healthcare industry. Hambrecht & Quist Capital Management LLC, based in Boston, serves as Investment Adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.