MINUTES OF A MEETING OF THE BOARD OF DIRECTORS

OF THE COLLEGE SAVINGS PLANS OF MISSISSIPPI

HELD JUNE 21, 2010

The Board of Directors of the College Savings Plans of Mississippi met in public session
in the South Conference Room (Room 117) of the Woolfolk State Office Building in
Jackson, Mississippi. The meeting was called to order at 11:05 AM by Deputy Treasurer
Liz Welch. A quorum was present for the meeting. In attendance were:

Dr. Eric Clark

Ms. Lois McMurchy
Ms. Cheryl Mowdy (Representing Dr. Hank Bounds)
Mr. Carlton Reeves
Mr. Wayne Tisdale
Ms. Rita Wray (Representing Kevin Upchurch, DFA Executive Director)

Representative Rufus Straughter, Legislative Advisor

Also Present:

Mr. Ron Logan, Logan Partners

Ms. Felicia Myrick, Treasury Staff
Mr. Chuck Rubisoff, Special Assistant Attorney General
Ms. Kathryn Stewart, College Savings Director
Ms. Liz Welch, Deputy Treasurer

Approval of Minutes

The minutes from the meeting on April 19, 2010 were reviewed. Ms. Wray made the
motion to accept the April minutes. The motion was seconded by Mr. Tisdale to accept
the minutes, and the Board unanimously approved the motion.

Merrill Lynch Report

Mr. Garry Bridgeman presented the 1st Quarter 2010 Performance report from Merrill
Lynch. Mr. Bridgeman provided a market overview, including index returns and specific
details regarding equity, fixed income, and international markets. Mr. Bridgeman then
discussed the MPACT portfolio’s characteristics and reviewed the performance of the
various managers. Questions were asked during and after the presentation. No formal
Board actions were required or taken.

Next on the agenda, the Board then discussed Mr. Logan’s contract, which was under
consideration for a 1-year extension. The proposed fees totaled $30,000. Ms. Wray
made the motion to accept Logan Partners Inc. one year contract. Ms. McMurchy
seconded the motion, and it was unanimously approved.
Marketing Report

Mr. John Broderick of Broderick Advertising presented the MPACT marketing strategy.
Mr. Clark made the motion to accept the marketing report. The motion was seconded by
Mr. Tisdale, and the Board unanimously approved the motion.

Investment Report

Representatives from Earnest Partners and Vector Money Management presented their
performance reports to the Board. The presentations included a review of the portfolio
characteristics and an explanation of the performance history. Questions were asked
during and after the presentation. No formal Board actions were required or taken.

As there was no further business to discuss, the meeting adjourned at 1:03 PM.