LICT Establishes Shareholder Designated Charitable Contribution Program

RYE, New York, June 1, 2016

Warren Buffett had a similar program at Berkshire Hathaway from 1981 to 2003. In addition, GAMCO Investors, Inc. has had a similar program.

At LICT, we believe charitable giving is a cornerstone of society and an obligation for those with means to make a difference in the world. As an organization, LICT will have no control over the donations, but we are happy to make them on behalf of our shareholders.

As in the case of both Berkshire and GAMCO, only registered shareholders will be eligible to participate.

If a shareholder's shares are registered in "street name" (i.e. a bank, broker or other institution holding the shares for the shareholder), those shares will not be eligible to participate in this charitable program.  Therefore, any shareholder who has shares that are currently held in street name but wishes to participate in this program should contact the institution holding the shares to arrange for their registration in the shareholder's own name.

Shareholders will have until July 15, 2016 to register shares in their own name to participate in the program. Our current plan is to distribute, in early July, a charitable contribution form that must be returned to LICT no later than August 15, 2016, for the charitable contribution to be made. Only charities that are recognized 501 (c) (3) organizations will be qualified to receive the donation from LICT on the shareholder's behalf. A list of eligible charities is available at: http://www.irs.gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check

If all shares outstanding are registered in the shareholders' names at the record date, the total contribution would be approximately $2.2 million.