THIS IS A SUMMARY OF THE ANNUAL REPORT FOR THE ITPE PENSION FUND, (EMPLOYER IDENTIFICATION NO. 11-2506736, PLAN NO. 001) FOR PERIOD OCTOBER 1, 2007 THROUGH SEPTEMBER 30, 2008. THE ANNUAL REPORT HAS BEEN FILED WITH THE EMPLOYEE BENEFITS SECURITY ADMINISTRATION, AS REQUIRED UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA).

BASIC FINANCIAL STATEMENT

BENEFITS UNDER THE PLAN ARE PROVIDED BY A TRUST (BENEFITS ARE PROVIDED IN WHOLE FROM TRUST FUNDS). PLAN EXPENSES WERE $11,707,752. THESE EXPENSES INCLUDED $1,675,147 IN ADMINISTRATIVE EXPENSES AND $10,032,605 IN BENEFITS PAID TO PARTICIPANTS AND BENEFICIARIES. A TOTAL OF 28,449 PERSONS WERE PARTICIPANTS IN OR BENEFICIARIES OF THE PLAN AT THE END OF THE PLAN YEAR, ALTHOUGH NOT ALL OF THESE PERSONS HAD YET EARNED THE RIGHT TO RECEIVE BENEFITS.

THE VALUE OF PLAN ASSETS, AFTER SUBTRACTING LIABILITIES OF THE PLAN, WAS $90,438,547 AS OF SEPTEMBER 30, 2008, COMPARED TO $91,823,502 AS OF OCTOBER 1, 2007. DURING THE PLAN YEAR THE PLAN EXPERIENCED A DECREASE IN ITS NET ASSETS OF $$1,384,955. THIS DECREASE INCLUDES UNREALIZED APPRECIATION OR DEPRECIATION IN THE VALUE OF PLAN ASSETS; THAT IS, THE DIFFERENCE BETWEEN THE VALUE OF THE PLAN'S ASSETS AT THE END OF THE YEAR AND THE VALUE OF THE ASSETS AT THE BEGINNING OF THE YEAR, OR THE COST OF ASSETS ACQUIRED DURING THE YEAR. THE PLAN HAD TOTAL INCOME OF $10,322,797 INCLUDING EMPLOYER CONTRIBUTIONS OF $13,403,428, GAINS OF $819,267 FROM THE SALE OF ASSETS, EARNINGS (LOSS) FROM INVESTMENTS OF $(3,904,235) AND OTHER INCOME OF $4,337.

MINIMUM FUNDING STANDARDS

ENOUGH MONEY WAS CONTRIBUTED TO THE PLAN TO KEEP IT FUNDED IN ACCORDANCE WITH THE MINIMUM FUNDING STANDARDS OF ERISA.

YOUR RIGHTS TO ADDITIONAL INFORMATION

YOU HAVE THE RIGHT TO RECEIVE A COPY OF THE FULL ANNUAL REPORT, OR ANY PART THEREOF, ON REQUEST. THE ITEMS LISTED BELOW ARE INCLUDED IN THAT REPORT:

TO OBTAIN A COPY OF THE FULL ANNUAL REPORT, OR ANY PART THEREOF, WRITE OR CALL THE OFFICE OF

BOARD OF TRUSTEES ITPE PENSION FUND C/O ERISA SYSTEMS,216 NORTH AVENUE EAST, 2ND FL CRANFORD, NJ 07016 11-2506736 (EMPLOYER IDENTIFICATION NUMBER) (908)-276-0800

THE CHARGE TO COVER COPYING COSTS WILL BE $8.00 FOR THE FULL REPORT, OR $0.25 PER PAGE FOR ANY PART THEREOF.

YOU ALSO HAVE THE RIGHT TO RECEIVE FROM THE PLAN ADMINISTRATOR, ON REQUEST AND AT NO CHARGE, A STATEMENT OF THE ASSETS AND LIABILITIES OF THE PLAN AND ACCOMPANYING NOTES, OR A STATEMENT OF INCOME AND EXPENSES OF THE PLAN AND ACCOMPANYING NOTES, OR BOTH. IF YOU REQUEST A COPY OF THE FULL ANNUAL REPORT FROM THE PLAN ADMINISTRATOR, THESE TWO STATEMENTS AND ACCOMPANYING NOTES WILL BE INCLUDED AS PART OF THAT REPORT. THE CHARGE TO COVER COPYING COSTS GIVEN ABOVE DOES NOT INCLUDE A CHARGE FOR THE COPYING OF THESE PORTIONS OF THE REPORT BECAUSE THESE PORTIONS ARE FURNISHED WITHOUT CHARGE.

YOU ALSO HAVE THE LEGALLY PROTECTED RIGHT TO EXAMINE THE ANNUAL REPORT AT THE MAIN OFFICE OF THE PLAN:

BOARD OF TRUSTEES ITPE PENSION FUND C/O ERISA SYSTEMS,216 NORTH AVENUE EAST, 2ND FL CRANFORD, NJ 07016

BOARD OF TRUSTEES ITPE PENSION FUND C/O ERISA SYSTEMS,216 NORTH AVENUE EAST, 2ND FL CRANFORD, NJ 07016

U.S. DEPARTMENT OF LABOR, EMPLOYEE BENEFITS SECURITY ADMINISTRATION, PUBLIC DISCLOSURE ROOM, 200 CONSTITUTION AVENUE, NW, SUITE N-1513, WASHINGTON,D.C. 20210.