Additional unit classes may exist for each plan ranked. Please refer to each plan's program disclosure statement for more information regarding its performance, fees and expenses. For Scholars Choice's program disclosure statement, please visit scholars-choice.com.About Legg Mason Legg Mason, Inc. is a global asset management firm with $636 billion in assets under management as of July 31, 2012. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland and its common stock is listed on the New York Stock Exchange (symbol: LM). About Scholars ChoiceThe Scholars Choice College Savings Program is the advisor-sold College Savings Program for the State of Colorado and is also used by investors and financial advisors throughout the U.S. It is one of the largest advisor-sold 529 college savings plans 1, with assets of over $2.8 billion as of June 30, 2012. Scholars Choice is managed by Legg Mason Global Asset Allocation, LLC and primarily distributed by Legg Mason Investors Services, LLC. It is one of the lowest-cost advisor-sold 529 college savings plans 2. Scholars Choice offers seven Age-Based Portfolios, five Years-to-Enrollment portfolios, six Static Portfolios and three U.S. Treasury Zero-Coupon Bond Target Maturity Portfolios. Investment options encompass a wide range of carefully constructed portfolios consisting of funds managed by Legg Mason affiliates including Batterymarch Financial Management, Brandywine Global Investment Management, ClearBridge Advisors, Royce & Associates and Western Asset Management; and one unaffiliated fund managed by Thornburg Investment Management. Important InformationThe ranking is based on short-term performance (i.e., rolling one- and three-year periods). The performance and ranking discussed are inherently limited and not indicative of longer-term performance. This information should not be the sole basis for any investment decision. Market volatility, interest-rate changes and economic events, among other factors, can affect an investment's short-term returns. Past performance is no guarantee of future results. Current performance may be lower or higher than performance results used for this ranking, resulting in different rankings that may be lower than those shown. An investor should consider the Program's investment objectives, risks, charges and expenses before investing. The Program Disclosure Statement at scholars-choice.com, which contains more information, should be read carefully before investing. If an investor and/or an investor's beneficiary are not Colorado taxpayers, they should consider before investing whether their home states offer 529 plans that provide state tax and other benefits only available to state taxpayers investing in such plans. Investments in the Scholars Choice College Savings Program are not insured by the FDIC or any other government agency and are not deposits or other obligations of any depository institution. Investments are not guaranteed by the State of Colorado, CollegeInvest, Legg Mason Global Asset Allocation, LLC, Legg Mason Investor Services, LLC, or Legg Mason, Inc. or its affiliates and are subject to investment risks, including loss of principal amount invested. While the U.S. Treasury securities in which the U.S. Treasury Zero-Coupon Bond Target Maturity Portfolios invest are backed by the full faith and credit of the U.S. government, interests in the Portfolios themselves are not obligations of or guaranteed by the U.S. government. Zero-coupon bonds, and the Scholars Choice U.S. Treasury Zero-Coupon Bond Target Maturity Portfolios, will fluctuate in value in response to changes in interest rates and may experience significant volatility. The value of units redeemed prior to a portfolio's maturity date may be worth less than what the investor paid for them due to the impact of interest-rate changes on a portfolio's holdings.