Reich & Tang - Money Market Funds

FUND NAME
DAILY INCOME FUND MONEY MARKET PORTFOLIO Invests in commercial paper, floating rate notes, domestic and foreign bank obligations.
Retail Class
Short Term Income Shares Class
Investor Service Class
Investor Class
Institutional Service Class
Institutional Class
DAILY INCOME FUND U.S. TREASURY PORTFOLIO AAAm rated by Standard & Poor's. Invests in securities backed by full faith and credit of U.S. Government.
Retail Class
Short Term Income Shares Class
Investor Service Class
Investor Class
Institutional Service Class
Institutional Class
DAILY INCOME FUND U.S. GOVERNMENT PORTFOLIO Invests in securities backed by the U.S. Government, its agencies or instrumentalities.
Retail Class
Investor Service Class
Investor Class
Institutional Service Class
Institutional Class
DAILY INCOME FUND MUNICIPAL PORTFOLIO National tax-free fund - free from Federal income tax. A portion of the income may be subject to state and local taxes and the Federal Alternative Minimum Tax.
Retail Class
Short Term Income Shares Class
Investor Service Class
Investor Class
Institutional Service Class
Institutional Class
STATE FUNDS Invests in municipal obligations exempt from Federal and, to the extent possible, state income taxes. A portion of the income may be subject to the Federal Alternative Minimum Tax.
California Daily Tax Free Income Fund, Inc. - Class A
California Daily Tax Free Income Fund, Inc. - Class B
Connecticut Daily Tax Free Income Fund, Inc. - Class A
Connecticut Daily Tax Free Income Fund, Inc. - Class B
Florida Daily Municipal Income Fund - Class A
Florida Daily Municipal Income Fund - Class B
New Jersey Daily Municipal Income Fund, Inc. - Class A
New Jersey Daily Municipal Income Fund, Inc. - Class B
New York Daily Tax Free Income Fund, Inc. - Class A Also, to the extent possible, New York City personal income tax.
New York Daily Tax Free Income Fund, Inc. - Class B Also, to the extent possible, New York City personal income tax.
OFFSHORE FUNDS We provide investments specifically designed to meet the needs of offshore investors. For more information, please call our Sales Department at 800 433-1918 (Inside U.S.A.), 212 830-5345 (Outside U.S.A.).

Please consider the investment objectives, risks, and charges and expenses of money market funds carefully before investing. The prospectus contains this and other information about the funds. Please contact us at 800 433-1918 to obtain a prospectus, which should be read carefully before investing.

An investment in money market funds is not insured or guaranteed by the FDIC or any other governmental agency. Although money market funds seek to preserve the value of an investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

Notwithstanding the preceding statements, U.S.-registered money market funds advised by Reich & Tang Asset Management, LLC participate in the U.S. Treasury Department's Temporary Guarantee Program for Money Market Funds. The program guarantees that, upon redemption, each shareholder of a Reich & Tang money market fund will receive $1.00 per share for each share that was held by the shareholder at the close of business on September 19th, 2008. The guarantee is based on the number of shares invested in the fund at the close of business September 19th, 2008, and any increase in the number of shares held after the close of business on September 19th, 2008 will not be guaranteed. If the number of shares fluctuates over the period, investors will be covered for the lesser of, either the number of shares held as of the close of business on September 19th, 2008 or the current amount. The program also states that in the event a customer closes their account with a fund or broker/dealer, any future investment in the fund will not be guaranteed. The program expires on April 30th, 2009, unless extended by the U.S. Treasury.