Thank you for your interest in the Preliminary Official Statement for the following issue:

$185,000,000*
City of Philadelphia, Pennsylvania
Water and Wastewater Revenue Bonds
Series 2010C



Disclaimer

Attached hereto is a copy of the Preliminary Official Statement, dated July 21, 2010, relating to the above-referenced Bonds (the “Preliminary Official Statement”). Electronic access to the Preliminary Official Statement is being provided to you as a convenience by the underwriters named on the cover of the Preliminary Official Statement (“Underwriters”) with the consent of the City of Philadelphia, Pennsylvania (the “Issuer”). Electronic access is the sole means of obtaining the Preliminary Official Statement.

The availability of the Preliminary Official Statement does not create any implication that there have been no changes in the affairs of the parties described in the Preliminary Official Statement or that the other information or opinions therein are correct as of any time subsequent to its date. Maintenance of the Preliminary Official Statement on this website is not intended as a republication of the information therein on any date subsequent to the date set forth in the Preliminary Official Statement.

Under no circumstances shall the Preliminary Official Statement constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the Bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of any such jurisdiction.

By clicking on the hyperlink at the bottom of this page and accessing the Preliminary Official Statement 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 Official Statement.

Access to the electronic version of the Preliminary Official Statement will continue to be provided on behalf of the Issuer by means of the hyperlink at the bottom of this page until the date on which the Issuer delivers printed copies of the final Official Statement. The hyperlink at the bottom of this page, a service procured on behalf of the Issuer by the Underwriters from McElwee and Quinn, L.L.C., is the sole means by which the Underwriters, with the consent of the Issuer, have provided access to the electronic version of the Preliminary Official Statement.

Please call McElwee and Quinn, L.L.C., at telephone number 610-519-0973, if you need assistance accessing the Preliminary Official Statement attached hereto.

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*Preliminary, subject to change.

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