$70,000,000*
TRUSTEES OF DARTMOUTH COLLEGE
____% Taxable Bonds, 2012 Series A

Disclaimer: 

Attached hereto is a copy of the Preliminary Offering Memorandum dated January 20, 2012 (the “Preliminary Offering Memorandum”), relating to the above-referenced Bonds (the “Bonds”).

The Preliminary Offering Memorandum and the information contained therein are subject to change in accordance with applicable law. The Bonds described therein may not be sold nor may offers to buy be accepted prior to the time the Offering Memorandum is delivered in final form. The Preliminary Offering Memorandum does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these Bonds by any person in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale prior to registration, qualification or exemption under the securities laws of any such jurisdiction.

By double clicking on the hyperlink at the bottom of this page and accessing the Preliminary Offering Memorandum that is attached hereto, you will be deemed to have accepted the terms of this Disclaimer and to have consented to the electronic transmission of the Preliminary Offering Memorandum.

Access to the electronic version of the Preliminary Offering Memorandum will continue to be provided by the Issuer by means of the hyperlink at the bottom of this page until the date of the sale of the Bonds. The hyperlink at the bottom of this page, a service procured by the Issuer from McElwee & Quinn, is the sole means by which the Issuer has provided access to the electronic version of the Preliminary Offering Memorandum.

Please call McElwee & Quinn, and ask for Mary McElwee at telephone number 610-519-0973, if you need assistance accessing the Preliminary Offering Memorandum attached hereto.

_______________________________
*Preliminary, subject to change

Clicking on the link to view the document above indicates your acceptance of the terms of the Disclaimer.