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Market Savvy | SAVVY CONFIDENTIAL / A Briefing for
Investors

May 17, 2000

NASD Regulation Inc., the brokerage industry's main self-regulatory arm, said it censured and fined Kemper Distributors $100,000 for running misleading mutual fund ads and for violating other ad rules. NASD Regulation said that from April through September 1997, Kemper published eight ads containing "inaccurate graphs" of the Kemper-Dreman High Return Equity Fund's performance. Kemper neither admitted nor denied NASD's findings.

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