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<div style="font-family: Georgia, 'Times New Roman', Times, serif; font-size: 16pt; color: #337244;"><span style="line-height: 118%;"><strong>July 2014 Update</strong></span></div>
<div style="font-family: Georgia, 'Times New Roman', Times, serif; font-size: 10pt;"><span style="line-height: 118%;"><br />On May 29th</span><span style="font-size: 10pt;">, 2014 OCT hosted a Special Meeting of the Members, at which time Members had the opportunity to provide feedback relating to updating the language in the </span><i style="font-size: 10pt;">Declaration <br />of Trust.</i></div>
<div style="font-family: Georgia, 'Times New Roman', Times, serif; font-size: 10pt;"><br /> At the Special Meeting, it was agreed that more dialogue between the Board and OCT Members would be useful to help ensure that all opinions were received and considered. To this end, the Board has scheduled two additional meetings on the following dates: <span style="text-decoration: underline; font-size: 10pt;">Thursday, July 17th</span></div>
<div style="font-family: Georgia, 'Times New Roman', Times, serif; font-size: 10pt;"><span style="text-decoration: underline; font-size: 10pt; font-family: Georgia, 'Times New Roman', Times, serif;">and Tuesday, August 5th</span><span style="font-size: 10pt;">. Both meetings will start at 5:00pm at the Orleans Council on Aging,</span></div>
<div style="font-family: Georgia, 'Times New Roman', Times, serif; font-size: 10pt;">150 Rock Harbor Road, Orleans.<br /><br /><span style="font-size: 10pt;">At these meetings, the Board and OCT Members will have the opportunity to review and </span></div>
<p style="font-family: Georgia, 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0px; margin-bottom: 0px;">discuss some of the suggestions received to date.</p>
<p style="margin-bottom: 1pt; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0px;"> </p>
<p style="margin-bottom: 1pt; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0px;"><span style="line-height: 118%; text-decoration: underline;"><b>Other Important Notes</b></span><span style="font-size: 10pt; line-height: 118%;">:</span> </p>
<ul><li style="font-size: 10pt; line-height: 118%; font-family: Georgia, 'Times New Roman', Times, serif;"><span style="font-size: 10pt;">The Annual Meeting is scheduled for Tuesday, August 26th</span><span style="font-size: 10pt;">, 2014 at the Orleans Yacht Club, 39 Cove Road, Orleans, MA from 5:00pm-7:00pm.</span></li></ul>
<ul><li style="font-size: 10pt; line-height: 118%; font-family: Georgia, 'Times New Roman', Times, serif;"><span style="font-size: 10pt;">Within the next month you will receive a proxy/absentee ballot form in the mail, enabling you as an individual member, couple, or family Trust to submit your vote for Trustee candidates electronically or by mail if you cannot attend the meeting in person. Included in the package will be a brief narrative about each of the Trustee candidates for your review and consideration</span><span style="font-size: 10pt;">.</span></li></ul>
<p style="font-family: Georgia, 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0px; margin-bottom: 0px;">Thank you for your continued support. If you have any questions please contact OCT Director Kris Ramsay at 508-255-0183 or e-mail <span style="text-decoration: underline;">Kramsay@orleansconservationtrust.org.</span><span style="color: black;"> </span></p>
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<p style="margin-top: 0px; margin-bottom: 0px; color: #fafafa; font-size: 11pt;"><strong>For more information contact:</strong></p>
<p style="margin-top: 0px; margin-bottom: 0px; color: #fafafa; font-size: 10pt;"><strong>Orleans Conservation Trust </strong></p>
<p style="margin-top: 0px; margin-bottom: 0px; color: #fafafa; font-size: 10pt;"><strong>508-255-0183</strong></p>
<p style="margin-top: 0px; margin-bottom: 0px; color: #fafafa; font-size: 10pt;"><strong><a style="color: rgb(250, 250, 250); text-decoration: underline;" track="on" href="http://r20.rs6.net/tn.jsp?f=001deEzuV2zalN_q_pe-WPk03H2MQMspIHGwz-L4I-s_38Arugge1v_h-fpFudRqiAfo-BBTi4uFbbBSjDr5B6Q3ZibfeCwOKblV4elmRwlneHqSg9kgXngQGAKkdpmx3wUQnawH_B0NcvTWTzd6d47D1hIKdX29vySWKbgau8_wb_n459CXMOlYFRtfBZ6NhEM&c=dbypYJBs2OVrJjbiZUze2iIGILYX1QnfuvH6KFF_w71GUt06LMeBNg==&ch=QHdlL5FREwWO7m1vH4A8VvGmlN9fSqKr1Xh03e48_wZdTrXO2IzPdg==" shape="rect" linktype="1" target="_blank">www.orleansconservationtrust.org</a></strong></p>
<p style="margin-top: 0px; margin-bottom: 0px; color: #fafafa; font-size: 10pt;"><strong>P.O.Box 1078, E. Orleans, MA 02643</strong></p>
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