This document is a Preliminary Official Statement by the Commonwealth of Pennsylvania and is not yet finally adopted. The sale of the Notes described in this preliminary official statement is subject to the terms and conditions specified in the Official Notice of Sale (contained in Appendix H of the Preliminary Official Statement) issued by the Commonwealth in conjunction with the sale of the Notes. All information contained in this Preliminary Official Statement is subject to completion and amendment. In the event there are discrepancies between the electronic and the printed versions of the Preliminary Official Statement, the printed version will control. A copy of the printed version may be ordered by e-mail request to rdreher@state.pa.us, by facsimile request to (717) 787-1743, or by phone request to (717) 787-7342.

This Preliminary Official Statement will be replaced in its entirety by a final Official Statement. The Preliminary Official Statement will be removed from this website, and the final Officials Statement will be posted on this website. Prospective purchasers should consult the final Official Statement with respect to the final terms of the Notes and for information superceding or supplementing information in the Preliminary Official Statement, which speaks as of its date. Under no circumstances shall this Preliminary Official Statement constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

By choosing to download and view this electronic Preliminary Official Statement, you are acknowledging that you have read and understood the above Tax Anticipation Note Sale Notice and the above disclaimer and that you accept the risks and limitations described therein.