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| March 28, 2008 Distributions: | |||||||
| Fund Name | Record Date | Ex & Pay Date | Income | Short-Term Capital Gain | Long-Term Capital Gain | Total Distribution | Re-invest NAV |
| Nebraska Tax-Free Income | 3/27/08 | 3/28/08 | 0.0800 | N/A | N/A | 0.0800 | 9.94 |
| Short-Intermediate Income | 3/27/08 | 3/28/08 | 0.0900 | N/A | N/A | 0.0900 | 11.74 |
| December 28, 2007 Distributions: | |||||||
| Fund Name | Record Date | Ex & Pay Date | Income | Short-Term Capital Gain | Long-Term Capital Gain | Total Distribution | Re-invest NAV |
| Value | 12/27/07 | 12/28/07 | 0.1000 | 0.3324 | 2.1448 | 2.5772 | 31.68 |
| Partners Value | 12/27/07 | 12/28/07 | 0.0500 | 0.1840 | 1.1788 | 1.4128 | 19.90 |
| Hickory | 12/27/07 | 12/28/07 | 0.2700 | N/A | N/A | 0.2700 | 34.39 |
| Partners III Opportunity | 12/27/07 | 12/28/07 | 0.0800 | N/A | 0.2673 | 0.3473 | 9.39 |
| Balanced | 12/27/07 | 12/28/07 | 0.1900 | 0.0725 | 0.1499 | 0.4124 | 10.82 |
| Nebraska Tax-Free Income | 12/27/07 | 12/28/07 | 0.1000 | N/A | N/A | 0.1000 | 9.98 |
| Short-Intermediate Income | 12/27/07 | 12/28/07 | 0.1300 | N/A | N/A | 0.1300 | 11.54 |
| September 26, 2007 Distributions: | |||||||
| Fund Name | Record Date | Ex & Pay Date | Income | Short-Term Capital Gain | Long-Term Capital Gain | Total Distribution | Re-invest NAV |
| Nebraska Tax-Free Income | 9/25/07 | 9/26/07 | 0.0900 | N/A | N/A | 0.0900 | 9.96 |
| Short-Intermediate Income | 9/25/07 | 9/26/07 | 0.1100 | N/A | N/A | 0.1100 | 11.45 |
| June 28, 2007 Distributions: | |||||||
| Fund Name | Record Date | Ex & Pay Date | Income | Short-Term Capital Gain | Long-Term Capital Gain | Total Distribution | Re-invest NAV |
| Value | 6/27/07 | 6/28/07 | 0.1821 | 0.0682 | 1.8680 | 2.1183 | 39.73 |
| Partners Value | 6/27/07 | 6/28/07 | 0.0449 | 0.0397 | 1.1022 | 1.1868 | 24.54 |
| Hickory | 6/27/07 | 6/28/07 | 0.0817 | N/A | N/A | 0.0817 | 41.58 |
| Partners III Opportunity | 6/27/07 | 6/28/07 | 0.0197 | N/A | 0.1683 | 0.1880 | 11.56 |
| Balanced | 6/27/07 | 6/28/07 | 0.0456 | 0.0670 | 0.2007 | 0.3133 | 12.21 |
| Nebraska Tax-Free Income | 6/27/07 | 6/28/07 | 0.0900 | N/A | N/A | 0.0900 | 9.89 |
| Short-Intermediate Income | 6/27/07 | 6/28/07 | 0.1300 | N/A | N/A | 0.1300 | 11.28 |
| March 29, 2007 Distributions: | |||||||
| Fund Name | Record Date | Ex & Pay Date | Income | Short-Term Capital Gain | Long-Term Capital Gain | Total Distribution | Re-invest NAV |
| Nebraska Tax-Free Income | 3/28/07 | 3/29/07 | 0.0800 | N/A | N/A | 0.0800 | 10.01 |
| Short-Intermediate Income | 3/28/07 | 3/29/07 | 0.1200 | N/A | N/A | 0.1200 | 11.42 |
| The Weitz Funds 2007 Supplemental Tax Information | ||||
| Value | Partners Value |
Hickory | Partners III Opportunity | |
| Capital Gain Distribution Per Share | $4.0128 | $2.2810 | N/A | $0.4356 |
| Ordinary Income Per Share | 0.6827 | 0.3186 | $0.3517 | 0.0997 |
| Total Distribution Per Share | $4.6955 | $2.5996 | $0.3517 | $0.5353 |
| U.S. Treasury Income as a % of Total Ordinary Income* | 4% | 4% | 0% | 0% |
| U.S. Government Agency Income as a % of Total Ordinary Income† | 8% | 5% | 3% | 0% |
| Total U.S. Treasury/Government Agency | 12% | 9% | 3% | 0% |
| Qualified Dividends as a % of Total Ordinary Income | 42% | 51% | 49% | 62% |
| Balanced | Short-Intermediate Income | Government Money Market | ||
| Capital Gain Distribution Per Share | $0.3506 | N/A | N/A | |
| Ordinary Income Per Share | 0.3751 | $0.4900 | $0.0477 | |
| Total Distribution Per Share | $0.7257 | $0.4900 | $0.0477 | |
| U.S. Treasury Income as a % of Total Ordinary Income* | 16% | 26% | 25% | |
| U.S. Government Agency Income as a % of Total Ordinary Income† | 8% | 3% | 52% | |
| Total U.S. Treasury/Government Agency | 24% | 29% | 77% | |
| Qualified Dividends as a % of Total Ordinary Income | 15% | 1% | N/A | |
U.S. Treasury and Government Agency Obligations
Mutual fund dividends that include income from certain U.S.
Treasury and Government Agency obligations may be exempt from state income
taxes. A portion of the ordinary income dividend paid to you by The Weitz Funds may
qualify for this pass-through exemption. State
law varies as to whether and what percentage of dividend income attributable to
Federal obligations is exempt from state income tax. Please consult your tax
advisor about the specific rules in the state in which you pay taxes to
determine whether any portion of these dividends is exempt from state income
tax.
Qualified Dividends (Form 1099-DIV, Box 1b) are taxed at a maximum federal tax rate for individual taxpayers of 15%. A shareholder must also satisfy a 61-day holding period with respect to any distributions of qualifying dividends in order to obtain the benefit of the lower tax rate. Please consult your tax advisor to determine if you qualify for the lower rate.
Corporate Dividends Received Deduction
The amount eligible for the corporate dividends received deduction as a percentage of
total ordinary income is: Value - 42%; Partners Value - 51%; Hickory - 49%;
Partners III Opportunity - 63%; Balanced - 15%; Short-Intermediate Income - 1%
[This information is relevant only to corporate shareholders and does not apply to
non-corporate shareholders.]
* Income attributable from investments in U.S. Treasury
securities
† Income attributable from investments in U.S. Government Agency issues
(Federal Home Loan Bank and Federal Farm Credit Banks)
|
Nebraska Tax-Free Income |
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|
State |
Tax Exempt Interest Dividends by State |
Assets by State |
| Alaska | 5.67% | 5.72% |
| Illinois | 9.53 | 8.85 |
| Minnesota | 4.69 | 4.88 |
| Missouri | 6.25 | 6.17 |
| Nebraska | 83.12 | 83.40 |
| Texas | 6.40 | 6.32 |
| Washington | 8.49 | 7.53 |
Tax-Exempt Interest Dividends
Of the tax-exempt interest dividends reported to you on your Form 1099-INT, Box 8, 100% is
tax-exempt for federal income tax purposes. Please consult your tax advisor about the specific
rules in the state in which you pay taxes to determine whether a portion of these tax-exempt
interest dividends may also be exempt from state or local taxes. The tax-exempt interest
dividends earned from obligations issued by U.S. territories is generally exempt for state
purposes. Therefore, the percentages listed above include 4.58% of tax-exempt interest
dividends from Puerto Rico.
Alternative Minimum Tax
A portion of the tax-exempt interest dividends is from private activity bonds issued after
August 7, 1986, and is a tax preference item subject to the Federal Alternative Minimum Tax.
Your share of the tax-exempt interest dividends for such bonds is 3.30% of the amount reported
on Form 1099-INT, Box 8.
Assets by State
State and local governments may require residents to pay intangible or personal property tax
on investments. The table above provides the percentage of assets that the Nebraska Tax-Free
Income Fund had invested in each state and U.S. territory at the end of 2007. The percentages
listed above include 4.81% of assets from Puerto Rico. Please consult your tax advisor about
the specific rules in the state in which you pay taxes to determine if your state or local
government requires you to pay intangible or personal property taxes.
Ordinary Interest Dividends
A portion of the total dividends paid by the Nebraska Tax-Free Income Fund is considered taxable
for federal and state income tax purposes. This amount is reported to you on your Form 1099-DIV,
Box 1a, if applicable.