Jonathan Miller
Kentucky State Treasurer

October 2001

Dear Friends:

It all began three years ago - just two parents, sitting at the dinner table,
grappling with how to pay for our daughters' college education.  One
political campaign, two legislative sessions and thousands of hours of
preparatory work later, the quandary my wife Lisa and I faced is about to be
resolved as KAPT, Kentucky's Affordable Prepaid Tuition, is about to become a
reality.

In just one week - on October 15 -- thousands of Kentucky families will be
able to join us in taking advantage of the opportunity to enroll their kids
in KAPT, which will guarantee the cost of tomorrow's tuition at today's lower
prices.

The details are as promising as the headline:

*   KAPT guarantees payment of full tuition and fees at any public college or
university in Kentucky;
*   Benefits also can be used at private Kentucky colleges and other colleges
and universities nationwide;
*   Parents, grandparents or other account-holders can pre-pay tuition in one
lump sum, or in manageable monthly payments over the course of several years;
and
*   Investments grow completely tax-free.

With budget cuts resulting in tuition rising at higher rates, and with the
stock market continuing its downward spiral, KAPT could not come at a better
time.  The program's guarantee and tax-free status make it a safe and smart
investment.

Because we want to give this program the sendoff it deserves, we will launch
KAPT amidst much fanfare at a Capitol press conference on Monday, October 15
at 2 PM.  Joining us will be Governor Paul Patton, Senator Mitch McConnell,
other elected officials and dozens of Kentucky children who will share the
honor of being the first children in the state to enroll in this program.  If
you would like to be a part of this ceremony and sign up your kids or
grandkids, please e-mail us ASAP at rebeccac.comley@mail.state.ky.us.

Of course, if you cannot attend the event, we will provide you with other
ways to enroll by the December 3 deadline:

*   Visit our continually updated web site www.getKAPT.com and sign up for
the program on-line.
*   Call our toll free number 1-888-919-KAPT to receive a hard copy of the
enrollment materials in the mail.
*   Be on the lookout for the "Get KAPT Caravan" which will journey to
approximately 90 counties across the state.
*   Take note of the enrollment information provided in our ambitious
marketing campaign, which is coming to a television, radio and newspaper near
you.

On a number of levels, it is profoundly satisfying to think that on October
15, the "secret" to my family's renewed sense of security will be out.  For
us, the kickoff of KAPT represents far more than a political victory; it is
an intensely personal one.  For the first time, we can rest assured that our
daughters will one day attain diplomas without debt.  It's an indescribable
feeling of relief.  And unless you've experienced it yourself, you'll either
have to take my word for it or - get KAPT!


Best wishes,


Jonathan Miller
State Treasurer

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