To Our Friends, Donors and Member Agencies, As you have undoubtedly heard or read in the news, the Bernard Madoff investment scandal has reverberated through our world of Jewish Philanthropy with profoundly sad impact. So much good work, by so many, has been harmed by this crime. I am writing to confirm that the funds managed by the Oregon Jewish Community Foundation had -ZERO- exposure to any part of the Madoff debacle. The entirety of the OJCF portfolio is invested in either indexed mutual funds or sector specific mutual funds conforming to the OJCF Investment Committee's asset allocation goals. All of our funds are listed and can be tracked for daily performance. It's a shame that the Madoff scandal is globally undermining confidence especially amongst Jewish philanthropists in the very system that has served our people so well in the past. We join you in praying that the general economic and financial climate will begin to improve in 2009. Sincerely, John L. Moss - Executive Director Oregon Jewish Community Foundation