Vanguard has announced the closure of Vanguard[FONT=Arial, Helvetica, sans-serif]®[/FONT][FONT=Arial, Helvetica, sans-serif] Admiral™ Treasury Money Market Fund and Vanguard Treasury Money Market Fund to new accounts effective 4 p.m., Eastern time, on Monday, January 26, 2009. In light of the substantial decline in yields on short-term Treasury securities, this decision was made to protect the interests of current fund shareholders. Current shareholders of the two funds who invest directly through Vanguard may continue to invest up to an additional $50,000 per day, per fund account. Although we're taking this step, it is likely that the yields on Vanguard's Treasury money market funds will continue to decline to negligible levels if short-term interest rates remain as low as they are now.[/FONT]