ANNAPOLIS, MD (April 17, 2007) Comptroller Peter Franchot today announced that his office will issue an 80-page advertising supplement over the next three weeks to find 74,600 recently-identified owners of more than $50 million in unclaimed funds. The supplement will appear in 29 newspapers though the state, beginning tomorrow and running through Wednesday, May 2.

"Our number one job at the Comptroller's Office is to serve the people," said Comptroller Franchot. "Part of that service is to connect people with unclaimed funds so they get what they are owed."

Financial institutions, utilities, insurance companies and other corporations are required to report to the Comptroller any bank accounts, security deposits, wages, insurances benefits and contents of safe deposit boxes that have been unclaimed after three years. Funds remain the property of the owners or their legitimate heirs and can be claimed anytime. There is no statue of limitations.

Comptroller Franchot urges anyone who finds their name in the ad to contact his office at 410-767-1700, in Central Maryland, or toll-free at 1-800-782-7383, to find out how to make a claim for their funds. The Comptroller also noted that anyone can check his agency's complete unclaimed property records for free, online, at either www.marylandtaxes.com or www.missingmoney.com. The agency has records on approximately 714,000 accounts worth more than $580 million.

In addition, numerous property items held by the agency that remain unclaimed are now eligible to be posted for auction on eBay. Since this program began in July 2006, nearly 650 items have been sold, totaling more than $96,000. These items can be viewed and bid on by clicking the eBay icon at www.marylandtaxes.com.

Along with newspaper advertising, the Comptroller's Office also searches for owners of unclaimed funds by matching files with Internal Revenue Service and state Motor Vehicle Administration records and setting up computers at the Maryland State Fair and other events to allow people to check the Comptroller's files of unclaimed funds.

In fiscal year 2006, which ended on June 30, 2006, the Comptroller's Office honored nearly 42,000 claims totaling $51.1 million.

UNCLAIMED PROPERTY ADVERTISING SCHEDULE FOR SPRING 2007

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CONTACT:

Christine Duray, 410-260-6346 (office), 443-336-0215 (cell)