Provident

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1-800-939-8401

September 04, 2010

WELCOME

Provident Trust Company was incorporated on September 20, 1990, and chartered by the State of Nebraska Department of Banking and Finance on March 11, 1992, to provide custodian and investment agency services, administration of irrevocable and revocable trusts, and settlement of estates as executor or agent for personal representative(s). Bridges Investment Counsel, Inc., an affiliated investment adviser, sponsored the organization and chartering of Provident. About 190 clients of the Firm from more than 20 states purchased 190,905 shares of common stock on December 31, 1991, no one of whom was permitted to own more than 3.7% of the total number to be outstanding. Each share was sold for $10.00. The $1,909,050 proceeds from the stock sale were used to create an endowment to develop investment income to prevent the Company from operating at a loss, especially during the start-up years. The endowment was worth $4,461,222 at December 31, 2008, developing annualized income of $277,532. The Stockholders' Equity for Provident's shareholders totaled $5,962,135 on that date.

The record of our growth and the stewardship of the assets and resources entrusted to management's care may be found by reading the latest Quarterly or Annual Report as posted under the Other Information section in the "About Us" topic area of this website. This progress has been achieved through the teamwork of our dedicated and skillful employees on behalf of customers who retain their relationships for extended periods of time in recognition of the quality of services provided to them.

The market value of our trust customer assets is a substantial number that has been acquired through self-referrals and built from investment performance over time. The classification of the $658,138,251 assets held by account type on December 31, 2008, was 0.1% estates, 37.5% custodian and safekeeping accounts, 52.7% investment agencies and revocable trusts, 0.6 % Irrevocable Trusts, and 9.1% deferred benefit plans. The preeminence of investment agency accounts in the total asset base reflects the genesis of Provident Trust Company from the Bridges Investment Counsel, Inc. client constituency.

Provident Trust Company's customer offerings as described in the previous paragraph were created to simplify the number of relationships and locations that need to be maintained by prospective customers. Provident has several areas of special emphasis, one of which is the coordinated effort to place second-to-die life insurance policies inside an irrevocable insurance trust with complimentary charitable annuity and charitable unitrusts to earn extra cash flow to fund large insurance premiums. In addition, management assistance to family members to operate private family foundations is also provided. The family foundation is usually the named beneficiary of the two charitable trusts.

Investment management service for agency and trust accounts is provided by Bridges Investment Counsel, Inc. This Firm uses specifically-selected securities to carry out investment plans and programs in the same manner in which investment counsel was first conceived in 1920. In some respects, this type and level of personal attention to your investments has become somewhat rare as an alternative for you because general investor interests have shifted heavily toward mutual funds and pooled products of various types over the past two decades.

Provident Trust Company (PTC) is affiliated with five other companies. Each one has a three-letter abbreviation. The list of abbreviations and business names appears below:

     BIA - Bridges Investment Advisers, a sole proprietorship
     BIC - Bridges Investment Counsel, Inc.
     BIF - Bridges Investment Fund, Inc.
     BIM - Bridges Investment Management, Inc.
     BIS - Bridges Investor Services, Inc.

The proprietorship of Marvin W. Bridges was the 208th registered investment adviser with the Securities and Exchange Commission in Washington, D.C. on January 15, 1945. Bridges Investment Counsel, Inc. is the successor organization to that business. Its incorporation on December 28, 1962, was undertaken to facilitate the formation of Bridges Investment Fund, Inc. as the first investment company organized under the laws of Nebraska in 1963. Bridges Investment Advisers was formed and registered in the State of California to extend services to potential clients. Bridges Investor Services, Inc. was started to bring dividend disbursing and transfer agency services for BIF from a local national bank. Bridges Investment Management, Inc. was initiated in 1994 as an expansion and succession business to Bridges Investment Counsel, Inc. Originally, this Firm was a wholly-owned subsidiary. A separation of the two companies took place on December 15, 2000, and BIM commenced serving clients on its own recognizance in January, 2001.

A click on BIF and/or BIM will take you to the website for each of those companies. BIA, BIC, and BIS do not offer websites of their own at this time. You may reach and inform yourself about the services to be obtained from these businesses by calling or writing me, Edson L. Bridges III (Ted), or Mary Ann Mason at the phone numbers or addresses shown on the "Contact Us" page by clicking on that box in the left-hand column.

Depending upon the variable nature of prices for securities and other factors, the market value of assets under management for the three affiliated investment adviser firms is likely to be in the range of $0.9-$1.1 billion. The combined net worth of these Firms currently exceeds $9.5 million. Bridges Investment Counsel, Inc. operates a business continuity center from which personnel may function in the event of a disaster or interruption of service at the main office facility. Computer data and other electronic records are concurrently recorded and stored at that site.

Provident Trust Company employs The Northern Trust Company of Chicago, Illinois, for securities depository trust services and trust customer check issuance. Metavante Corporation of Brown Deer, Wisconsin, provides our trust accounting software and other product support for a full array of customer services. Both of these institutions are recognized leaders in their fields of operation.

Prior to entry to the Internet in the fall of 2007, Provident Trust Company has considered its role to be a private effort within the constituency of the Bridges' affiliated companies. We are now prepared to look toward new customer horizons; consequently, we invite your inquiries about our various services, and we welcome you to our website.

Sincerely,

Edson L. Bridges II
President

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