About Stewart & Patten Company, LLC

The late John K. (Jack) Stewart entered the investment management business in 1942 as one of the very first registrants following the passage of the Investment Advisers Act of 1940. In 1962, Ronald S. Patten joined Mr. Stewart, and in 1965 they formed Stewart and Patten Company. In 1998, Stewart and Patten Company became a Limited Liability Company (LLC) within the State of California. Investment management is the only business and exclusive source of income for Stewart and Patten. We do not offer or sell any other type of service. We are not registered as a broker nor are we affiliated with any broker, dealer, investment company or other investment adviser. We do not buy or sell securities as principal nor do we share in any compensation with respect to security trades.

Our business consists of managing security accounts, each of which uses as custodian a bank or broker selected by the client. We hold a limited power of attorney that authorizes us to buy or sell securities. Although we do not consult with clients prior to individual security purchases and sales, occasional consultations are held to discuss general matters such as how the account managed by Stewart and Patten relates to the client's other assets and requirements. We do not have custody of clients' securities or funds except in very rare instances where a Principal of Stewart and Patten also serves as Trustee of a client's Trust.

Although most of our clients are individuals, some clients are trusts, charitable foundations, retirement plans, estates, or corporations. Client portfolios are invested in stocks, taxable and tax-exempt bonds, and short-term instruments such as Treasury bills and money market funds. A separate account is maintained for each client.