Simple Truth: It's important to keep an eye on costs Why would anyone pay six times more than they have to? $3/b lb $18/ Many investment firms call themselves low-cost. But, the truth is, many of them charge about six times as much as Vanguard. This can cost you thousands of dollars. For instance, over 20 years, if you invest $10,000 a year with an average annual return of 8% before expenses, you would keep about $58,000 more with the lower-cost fund!" And the longer you invest, the greater the savings. It's your money. Keep more of it. Vanguard. The simple truth about investing. www.vanguard.com/simpletruth Vanguard Visit www.vanguard.com/simpletruth, or call 800-545-9998, to obtain a prospectus, which includes investment objectives, risks, charges, expenses, and other information; read and consider it carefully before investing. Investments are subject to market risk. "Source: Lipper Inc. as of December 31, 2007. "Based on 2007 industry average expense ratio of 1.22% and Vanguard