WSU IRMA Language

By publicly posting the following written disclosure, Wayne State University (the "University") intends that market participants receive and use this disclosure for purposes of the independent registered municipal advisor exemption (the "IRMA Exemption") to the Securities and Exchange Commission's Municipal Advisor Rule (the "MARule").

The IRMA Exemption from municipal advisor treatment is available for advice provided by investment banking and financial services firms ("Firms", or, a "Firm") to a client who has engaged and is relying upon the advice of an independent registered municipal advisor.

The University has retained and will rely upon Blue Rose Capital Advisors, Inc. ("Blue Rose"), as its independent registered municipal advisor to provide advice on proposals from Firms concerning the issuance of municipal securities and municipal financial products.  The personnel from Blue Rose who will advise the University have represented to the University that they have not been associated with a Firm within the past two years. Accordingly, Firms may continue to provide proposals and/or recommendations on the issuance of municipal securities and municipal financial products that are particularized to the specific needs of the University, in reliance upon this disclosure, until advised otherwise.

Proposals, recommendations and/or other written financial information should be provided to the University, Attention: Rick Nork, Vice President for Finance and Operations and Chief Financial Officer and/or Roger Kempa, Investment Debt and Risk Officer, 5700 Cass Avenue, Suite 4900AAB, Detroit, MI  48002.