Legal Statements

Effective November 13, 2000, the Securities and Exchange Commission adopted Regulation S-P, Privacy of Consumer Information. As an Investment Advisor, we are required to provide our privacy statement to you on an annual basis as long as our relationship exists.

Tufton Capital Management, as a registered investment advisor, was required to provide a written disclosure statement to you at account inception. Part II of Form ADV was furnished to meet the requirement.

As a client, you have the right to receive the Tufton Capital Management disclosure statement on an annual basis at no charge.

Please contact your Portfolio Manager if you would like to receive a copy of the disclosure statement.

Tufton Capital Management collects personal information about you from new account agreements and through communication channels such as meetings and telephone conversations. Information is also collected as a result of activity within your account. This information may include your:

Name and Address- Social Security or taxpayer identification number- Assets- Income- Account balance- Investment activity- Accounts at other financial institutions

We do not sell, or otherwise disclose, any personal information to anyone or any organization. Our policy covers current and former clients. We share information only when needed to complete transactions within your account. For example, if you ask to transfer assets from another financial institution, we need to provide certain information about you to the company to complete the transaction. The collection of personal information is limited to, and compatible with, what is essential in delivering investment management services to meet your needs.

We maintain physical, electronic and procedural safeguards to store and secure your-information against unauthorized access, alteration and destruction. Employees of Tufton Capital Management may not use or disclose your information except in business use.

Respecting and protecting your privacy is vital to our business. Please contact us should you have any questions regarding our policy.