College SAVE Launches Ugift - Give College Savings
Online tool allows families and friends to give the gift of college savings

BISMARCK–January 14, 2009–Bank of North Dakota (BND) and Upromise Investments today announced the rollout of UgiftSM – Give College Savings, a new service for College SAVE account owners which went into effect in December. College SAVE is North Dakota’s 529 college savings plan.

Ugift is designed to make it easy for College SAVE participants to invite family and friends to make gift contributions to their child’s account in lieu of traditional gifts.

Using the College SAVE website, participants can email invitations or print gift coupons to give to family and friends for a birthday, holiday, or other celebration. When a gift contribution is sent in with the coupon, it is linked to the celebration and the specific College SAVE account. The participant can monitor the gift contributions that are received via their online secure account. The minimum gift amount is $25, about the average cost of a child’s birthday gift.

“We are excited to offer College SAVE participants an additional way to add to their college savings,” said Eric Hardmeyer, President of BND. “College SAVE participants had access to Ugift just in time for the holidays, and with the current economic situation, it was the perfect time for family and friends to give the gift of college savings.”

“Now more than ever, the rising cost of college can be overwhelming to families, but parents and students are learning that they don’t have to face the challenge alone,” said Liz Robinson, Vice President of Upromise Investments.  “They need help paying for college and Ugift makes it easy for them to tap into their social network to get that help.”

Since November of last year, Ugift has been introduced in nine 529 plans administered by Upromise Investments. Participants have generated nearly $2.5 million in gift contributions.

In addition to Ugift, the College SAVE Plan offers a number of important benefits, including:

• A state tax deduction of up to $5,000 ($10,000 for couples filing jointly) for North Dakota taxpayers*
• A matching grant opportunity from Bank of North Dakota **
• Tax-free qualified withdrawals***
• Low minimum investment, high contribution maximum

BND serves as Trustee and administers College SAVE and Upromise Investments is the Plan Manager. North Dakota families can learn more about Ugift and the College SAVE Plan by going to www.collegesave4u.com.

*Rollovers from another state’s 529 plan are not considered eligible for the state income tax deduction.

**Matching grants are subject to the availability of funds and can be reduced or stopped at Bank of North Dakota’s discretion.

***Earnings on non-qualified distributions may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

For more information about North Dakota's College SAVE Plan, call 1-866-SAVE-529
(1-866-728-3529) or visit www.collegesave4u.com to obtain a Plan Disclosure Statement. Investment objectives, risks, charges, expenses, and other important information are included in the Plan Disclosure Statement; read and consider it carefully before investing. Upromise Investments, Inc., Distributor and Underwriter.

Before investing in any 529 plan, you should consider whether your or the designated beneficiary's home state offers a 529 plan that provides its taxpayers with state tax and other benefits that are only available through the home state's 529 plan. You also should consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state's 529 plan(s), or any other 529 college savings plan, to learn more about those plans' features, benefits and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

The College SAVE Plan is a 529 Plan established by the State of North Dakota. Bank of North Dakota acts as trustee of the College SAVE Trust and is responsible for administering the Plan. Upromise Investments, Inc. and Upromise Investment Advisors, LLC serve as the Plan Manager and Recordkeeping and Servicing Agent, respectively, with overall responsibility for the day-to-day operations, including effecting transactions and marketing and distribution of the Plan. The Vanguard Group, Inc., provides underlying investments for the Plan. The Plan's Portfolios, although they invest in mutual funds, are not mutual funds. Units of the Portfolios are municipal fund securities and the value of units will vary with market conditions.

Investment returns are not guaranteed, and you could lose money by investing in the College SAVE Plan. Not FDIC Insured. No Bank, State, or Federal Guarantee. May Lose Value.

###