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Hambrecht & Quist Capital Management, LLC ("HQCM"), a registered investment adviser based in Boston, Massachusetts, is currently the investment adviser for two closed-end equity funds, H&Q Healthcare Investors and H&Q Life Sciences Investors. The Funds invest in growth equities, both public and private, in the healthcare and life sciences industries. |

HQH 2007 Tax Information,
HQL 2007 Tax Information
**These forms are not meant to be tax advice. Please consult your tax adviser on how to report these gains. |

HQH
and
HQL |

View the Joint Proxy Statement for HQH and HQL
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