Central Securities Corporation was organized in October 1929 and has operated as a closed-end management investment company since its incorporation. It is the policy of Central Securities to operate as a non-diversified investment company. The organization invests primarily in common stocks, as well as bonds, convertible bonds, preferred stocks, warrants, options real estate and short-term obligations of governments, banks and corporations. In addition, Central Securities primary investment objective is growth of capital. Income received from securities is a secondary consideration. Central Securities' dividend and distribution policy is to pay out substantially all net investment income and realized capital gains. The company s common stock is traded on the American Stock Exchange under the symbol CET. Central Securities is based in New York.

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