Johnson Asset Management June 30, 2007

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1 Asset Class: International Equity KEY FACTS ea Universes: ea International Large Cap Value ea International Equity - Unhedged Primary Capitalization: Large Cap Marketing Contact: Joel Dykman Primary Style Emphasis: Value Preferred Benchmark: MSCI ACWI ex-us (GD) Title: Director of Sales Total Product Assets ($Mil): $140.3 Phone/Fax: / Total Product Accounts:** 2 Product Offered As: SA,MF:Inst,MF:Retail Address: jdykman@johnsonasset.com Separate Account Minimum ($Mil): $5.00 ASSET & ACCOUNT INFORMATION Product Snapshot Current Totals Assets ($Mil) Accounts Assets by Vehicle Type ($Mil) Total In Product $ Separate Account: $25.8 Total Taxable 0 0 Commingled Fund: --- Total Tax-Exempt $ Mutual Fund - Institutional: --- Total Institutional $ Mutual Fund - Retail: $114.5 Accounts Gained Number Dollars ($Mil) % Product Assets Accounts Lost Number Dollars ($Mil) % Product Assets YTD % YTD % In % In % In $ % In % PORTFOLIO CHARACTERISTICS Strategy Snapshot Fundamental Characteristics Key Country Allocations Preferred Benchmark: MSCI ACWI ex-us (GD) Current Number of Holdings: 130 Canada: 6.2% Primary Capitalization: Large Cap Annl. Turnover (By Wgt.): 21% France: 6.3% Primary Style Emphasis: Value Current Dividend Yield: 2.7% Germany: 7.6% Current Cash Position: 3.1% Current P/E (12-mo Trail): 15.6x Japan: 18.7% Number of Countries in Portfolio: 23 Current P/B (12-mo Trail): 2.1x Netherlands: 5.8% Approach Toward Hedging: Not Used Grw. in Earnings (Past 5 Yrs): 10.9% Switzerland: 2.2% Current % Hedged to US$: --- Wgtd. Avg. Mkt. Cap ($Mil): $47,515 United Kingdom: 16.7% Max Allow in Emerging Markets: --- Median Mkt. Cap ($Mil): $21,760 Emerging Markets: 1.6% PERFORMANCE INFORMATION Performance For: Institutional Mutual Fund - Gross of Fees Risk Benchmark: MSCI EAFE-ND Data Frequency: Quarterly Risk-Free Benchmark: Citigroup 3-Month T-Bill Returns Trailing Periods Product Bmrk Excess Std Dev Alpha Beta Tracking Error Info Ratio Sharpe Ratio 1 Year Year Year Year Year Year Year Year Year Year Since Inception (4/1998) Calendar Years MRQ YTD Product Returns: Benchmark Returns: Excess Returns: FEE INFORMATION Vehicle Type Available Min. Size ($Mil) Minimum Fee Separate Account Open $5.0 $7,500 Commingled Fund Mutual Fund JFIEX $0.0 $0 Fees By Acct. Size $25M $50M $75M $100M Separate Account $235,000 $385,000 $535,000 $685, bps 77 bps 71 bps 69 bps Commingled Fund bps --- bps --- bps --- bps Mutual Fund bps --- bps --- bps --- bps PROFESSIONAL INFORMATION Team Description No. Avg. Yrs. Exp. Avg. Firm Portfolio Managers Analysts Traders Professional Turnover Port Mgrs. Analysts Professionals Gained: YTD 0 0 In In Professionals Lost: YTD 0 0 In In

2 Asset Class: ea Universes: Marketing Contact: International Equity ea International Large Cap Value ea International Equity - Unhedged Joel Dykman Key: Quartiles 1st 2nd Title: Director of Sales Phone/Fax: / rd Address: jdykman@johnsonasset.com 4th HISTORICAL PRODUCT ASSETS ($MIL) Category Total $129 $114 $117 $65 $37 Institutional $129 $114 $85 $62 $37 Taxable $0 $0 $29 $4 $1 Tax-Exempt $129 $114 $88 $62 $37 KEY FACTS Primary Capitalization: Large Cap Primary Style Emphasis: Value Preferred Benchmark: MSCI ACWI ex-us (GD) Total Product Assets ($Mil): $140.3 Total Product Accounts:** 2 Product Offered As: SA,MF:Inst,MF:Retail Separate Account Minimum ($Mil): $5.00 Product Trends UNIVERSE RANKING ANALYSIS vs. ea INTERNATIONAL EQUITY UNIVERSE Annualized Returns (Periods Ending June 30, 2007) Percentile MRQ YTD 1 Yr 3 Yrs 5 Yrs 7 Yrs 10 Yrs 5th th Median th th Product Rank (52) (50) (58) (52) (38) (27) (---) Calendar Year Returns Median Product Rank (39) (82) (25) (55) (12) Median Product Rank (33) (11) (86) (---) (---) Rolling 3-Year Returns (Periods Ending) 6/2007 3/ /2006 9/2006 6/2006 Median Product Rank (52) (45) (44) (51) (50) 3/ /2005 9/2005 6/2005 3/2005 Median Product Rank (63) (51) (35) (27) (24)

3 Universe Rank Asset Class: International Equity KEY FACTS ea Universes: ea International Large Cap Value ea International Equity - Unhedged Primary Capitalization: Large Cap Marketing Contact: Joel Dykman Primary Style Emphasis: Value Preferred Benchmark: MSCI ACWI ex-us (GD) Title: Director of Sales Total Product Assets ($Mil): $140.3 Phone/Fax: / Total Product Accounts:** 2 Product Offered As: SA,MF:Inst,MF:Retail Address: jdykman@johnsonasset.com Separate Account Minimum ($Mil): $5.00 PEER GROUP STATISTICS AND RANKING vs. ea INTERNATIONAL EQUITY UNIVERSE YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Firm/Product Return Rank Return Rank Return Rank Return Rank Return Rank Johnson Asset Mgmt-International Value E Benchmark:MSCI EAFE-ND Median THREE YEAR STATISTICS vs. ea INTERNATIONAL EQUITY UNIVERSE vs. MSCI EAFE-ND Info Ratio Sharpe Ratio Alpha Standard Deviation Batting Avg. Excess Return Median Product Rank (49) (26) (32) (89) (45) (52)

4 Risk vs. Reward Asset Class: International Equity KEY FACTS ea Universes: ea International Large Cap Value ea International Equity - Unhedged Primary Capitalization: Large Cap Marketing Contact: Joel Dykman Primary Style Emphasis: Value Preferred Benchmark: MSCI ACWI ex-us (GD) Title: Director of Sales Total Product Assets ($Mil): $140.3 Phone/Fax: / Total Product Accounts:** 2 Product Offered As: SA,MF:Inst,MF:Retail Address: jdykman@johnsonasset.com Separate Account Minimum ($Mil): $5.00 RISK VS. RETURN AND MARKET CAPTURE ANALYSIS: 3 YEARS vs. ea INTERNATIONAL EQUITY UNIVERSE Returns Standard Deviation Product Benchmark Product Up Market Capture # of Up Periods 9 Down Market Capture # of Down Periods 3 MARKET CAPTURE ANALYSIS: 3 YEARS TRACKING ERROR: ROLLING 3-YEAR PERIODS Up Market Capture Down Market Capture Median Product Rank (71) (69) End Trk Error End Trk Error End Trk Error 2q q q q q q q q q q q q q q q

5 Asset Class: International Equity KEY FACTS ea Universes: ea International Large Cap Value ea International Equity - Unhedged Primary Capitalization: Large Cap Marketing Contact: Joel Dykman Primary Style Emphasis: Value Preferred Benchmark: MSCI ACWI ex-us (GD) Title: Director of Sales Total Product Assets ($Mil): $140.3 Phone/Fax: / Total Product Accounts:** 2 Product Offered As: SA,MF:Inst,MF:Retail Address: jdykman@johnsonasset.com Separate Account Minimum ($Mil): $5.00 Analysis As of Date: 6/2007 Data Frequency: Quarterly Style Analysis

6 Johnson Asset Management Investment Strategy Through our international investment approach, you benefit from a process that: Takes into consideration regional and country-specific factors which may affect the risk profile of the portfolio. Is designed to identify attractively valued, high-quality companies that are likely to return to fair value throughout a market cycle. Relies on a blend of proprietary quantitative screens that assess value in each market's own way and are optimized to reflect changing market conditions. Uses solid qualitative research to identify catalysts that are likely to improve value. Facilitates diversification with minimal risk and greater consistency Includes a well-defined sell discipline. Screening Process To bring the overall universe of potential holdings to a manageable size, the first step of our process uses our quantitative screens to identify inexpensively priced companies that exhibit high levels of quality. We screen a universe of about 2000 companies and assign each to one of 20 industry sectors within each country or region. Each stock is then valued based on a sector specific valuation model focused on price/earnings, price/book and price/cash flow as well as factor weightings. The initial sort identifies the companies that appear to have the most attractive value. These companies are then filtered for quality, looking for factors such as low outstanding debt to capitalization, positive free cash flow and stable earnings estimate revisions. As a last step, we screen for positive trends such as improved cash flow, margins and leverage to rule out companies that don't appear to be healthy, leaving us with approximately 500 stocks. Portfolio Construction Methodology Because we want to construct risk-controlled portfolios that offer more consistent returns than the broader market, diversification is an essential consideration. An important aspect of international investing is the diversification of assets across regions and countries. The country allocation decision is based on qualitative factors such as economic structure, political considerations, and differences in macroeconomic fundamentals. Our portfolio typically holds stocks in 26 different countries. Across regions, sector exposure is limited to 1.5 times that of MSCI All Country World ex USA Index. We also will not underweight a particular sector by more than two-thirds of the benchmark weight. Our sector weightings are driven by the process of finding attractive companies, rather than a top-down macro overview. A large number of attractive companies in a given sector will lead us to overweight that sector. Our portfolio typically holds stocks. Buy/Sell Discipline A key element of our disciplined process is a well-defined sell discipline. A variety of situations can trigger the sale of a specific stock, or cause us to review the stock for possible action. Our value screening process indicates that the stock is fully valued within its sector. There is no indication a near-term catalyst is going to develop. Our holdings in the stock reach 5% of the total portfolio. The stock's performance causes the sector to become excessively overweighted versus its target weighting Company fundamentals are deteriorating. Trading/Execution Strategy

7 Johnson Asset Management Investment Professionals Managing This Strategy Daniel Bagdasarian, Fundamental Analyst Primary Role: Equity Analyst Percentage Ownership: N/A Start Year: Industry: 1987 Firm: 1998 Prior Employer: Johnson Trust Company ( ) Prior Employer: Bank One Wisconsin Trust Company ( ) Education: Marquette University (BS-Business Admin., 1985) Biography: Dan joined Johnson Asset Management in 1998 after three years as an Investment Officer for Johnson Trust Company. Prior to joining Johnson Financial Group, he worked at Bank One and the Midwest Stock Exchange. Dan has a bachelor's degree in business administration from Marquette University and is a Chartered Financial Analyst. William Fitzpatrick, Fundamental Analyst Primary Role: Equity Analyst Percentage Ownership: N/A Start Year: Industry: 1997 Firm: 2004 Prior Employer: Northern Trust ( ) Prior Employer: Thomas White Asset Management ( ) Prior Employer: Mid States Credit Union ( ) Education: Villanova University (BS-BA, 1997) Education: Notre Dame University (MBA, 2003) Biography: Bill joined Johnson Asset Management in Prior to joining our firm, Bill worked as a Fixed Income Research Analyst for Mid-States Corporate Credit Union in Warrenville, IL. Prior to Mid- States Corporate Credit Union, Bill worked for Thomas White Asset Management and The Northern Trust Company. Bill is a graduate of Villanova University where he earned a bachelor's degree in business administration and an MBA from the University of Notre Dame and is a Chartered Financial Analyst. Edward Maraccini, Portfolio Manager Primary Role: Portfolio Manager Percentage Ownership: N/A Start Year: Industry: 1996 Firm: 1999 Prior Employer: Robert W. Baird Inc. ( ) Education: University of Wisconsin-LaCrosse (BA-Finance and Accounting, 1995) Biography: Ed joined Johnson Asset Management in 1999 with three years of experience in investment analysis and portfolio management. He previously worked for Robert W. Baird & COmpany and presently heads up the fundamental analyst team. He has a bachelor's degree in finance and accounting from the University of Wisconsin - LaCrosse and is a Chartered Financial Anlayst. Wendell Perkins, Chief Investment Officer and Portfolio Manager Primary Role: Portfolio Manager Percentage Ownership: N/A Start Year: Industry: 1985 Firm: 1994 Prior Employer: Biltmore Investors Bank ( ) Prior Employer: State of Wisconsin Investment Board ( ) Prior Employer: Westinghouse Credit Corporation ( ) Education: Colby College (BA-English, 1985) Education: University of Wisconsin-Madison (MBA, 1992) Biography: Wendell is responsible for equity research, strategy and implementation at Johnson Asset Management and has over 20 years of expereince. Wendell joined the firm in 1993 after working for the State of Wisconsin Investment Board in the Private Placement Division and Westinghouse Credit. He is graduate of Colby College, earned an MBA from the University of Wisconsin, and is a Chartered Financial Analyst. David Stamm, Fundamental Analyst Primary Role: Equity Analyst Percentage Ownership: N/A Start Year: Industry: 1997 Firm: 2000 Prior Employer: Johnson Bank ( ) Education: Valparaiso University (BS-International Business, 1997) Biography: Dave joined Johnson Asset Management in 2000 after working as a credit analyst and senior analyst with Johnson Bank. Dave is a graduate of Valparaiso University with a bachelor of science degree in business administration-international business and is a Chartered Financial Analyst candidate. Eldene Doyle, Fundamental Analyst Primary Role: Equity Analyst Percentage Ownership: N/A Start Year: Industry: 1986 Firm: 2003 Prior Employer: London Pacific Advisors ( ) Prior Employer: Financial Counselors ( ) Education: University of Hawaii - Honolulu (Finance, 1983) Biography: Eldene joined the firm in 2003 with more than 15 years of investment experience. She is responsible for investment research across several industries. Before joining the firm, Eldene worked as a research analyst for London Pacific Advisors and as an investment analyst at Financial Councelors, Inc. Eldene earned her BBA in finance from the Univesrity of Hawaii-Honolulu and is a Chartered Financial Analyst. Michael Gandrud, Fundamental Analyst Primary Role: Equity Analyst Percentage Ownership: N/A Start Year: Industry: 1987 Firm: 2004 Prior Employer: Waupaca Northwoods ( ) Prior Employer: Cedar Creek Partners ( ) Prior Employer: LaSalle Bank ( ) Education: University of Wisconsin-Whitewater (BA-Finance, 1987) Education: Marquette University (MBA, 1990) Biography: Mike joined Johnson Asset Management in 2004 with more than 13 years of investment analysis experience. Prior to joining the firm, Mike worked at Cedar Creek Partners, LaSalle Bank and Firstar Bank. He earned a bachelor's defree in business administration from the University of Wisconsin-Whitewater, and MBA from Marquette University and is a Chartered Financial Analyst. Margaret McKay, Portfolio Manager Primary Role: Portfolio Manager Percentage Ownership: N/A Start Year: Industry: 1992 Firm: 2000 Prior Employer: Royal Bank Financial Group ( ) Prior Employer: Royal Bank Financial Group ( ) Prior Employer: Daiwa International Capital Management ( ) Education: McGill University (BA-Economics, 1992) Education: University of British Columbia (MA-Economics, 1998) Biography: Peggy joined Johnson Asset Management in 2000 and has over 10 years of experience in the financial industry. Prior to joining Johnson Asset Management, she held positions with the Royal Bank Financial Group in Toronto as a Financial Analyst and Daiwa International Capital Management as an Assistant Portfolio Manager. Peggy earned a degree in economics from McGill University and a master of economics from the University of British Columbia and is a Chartered Financial Analyst. Elizabeth Polzin, Quantitative Analyst Primary Role: Equity Analyst Percentage Ownership: N/A Start Year: Industry: 2002 Firm: 2004 Prior Employer: Johnson Financial Group ( ) Prior Employer: Johnson Financial Group ( ) Education: Mount Mary College (BS, 1997) Education: University of Wisconsin - Parkside (MBA, 2003) Biography: Beth joined Johnson Asset Management in December of Prior to joining our firm, Beth worked as a Trust Investment Specialist for Johnson Trust after completing a Financial Training positions with Johnson Financial Group. She earned the designation of Certified Fiduciary Investment Manager. She earned a bachelor of science degree from Mount Mary College and an MBA from University of Wisconsin - Parkside.

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9 UNIVERSE RANKING ANALYSIS vs. ea INTERNATIONAL EQUITY UNIVERSE Manager Rank Index Rank MRQ 7.23 (52) 6.40 (70) 1 Yr (58) (68) 3 Yrs (52) (71) 5 Yrs (38) (68) 7 Yrs (27) 6.60 (75) 10 Yrs --- (---) 7.66 (96) EXCESS RETURN ANALYSIS vs. MSCI EAFE (NET DVDS) INDEX Manager Index Excess MRQ Yr Yrs Yrs Yrs Yrs ROLLING QUARTERLY PERFORMANCE vs. MSCI EAFE (NET DVDS) INDEX Manager Index 2q q q q q q q q q q q q

10 STANDARD DEVIATION ANALYSIS vs. ea INTERNATIONAL EQUITY UNIVERSE Manager Rank Index Rank 3 Yrs 9.60 (89) (66) 5 Yrs (94) (55) 7 Yrs (95) (55) 10 Yrs --- (---) (70) TRACKING ERROR ANALYSIS: ROLLING THREE YEAR PERIODS End Trk Error End Trk Error 2q q q q q q q q q q q q q q q q q q q q MARKET CAPTURE ANALYSIS: 5 YEARS vs. MSCI EAFE (NET DVDS) INDEX Manager Upmarket Capture Downmarket Capture # of Up Periods 15 # of Down Periods 5

11 3 YEAR MPT STATISTICS vs. ea INTERNATIONAL EQUITY UNIVERSE vs. MSCI EAFE (NET DVDS) INDEX Manager Rank Excess Returns Tracking Error Information Ratio Sharpe Ratio 1.48 (52) 5th Percentile th Percentile Median th Percentile th Percentile (70) 0.61 (50) 2.09 (25) Manager Rank Annualized Alpha Jensen Alpha Sortino Ratio Treynor Ratio 3.34 (32) 5th Percentile th Percentile Median th Percentile th Percentile (35) (5) (33)

12 5 YEAR MPT STATISTICS vs. ea INTERNATIONAL EQUITY UNIVERSE vs. MSCI EAFE (NET DVDS) INDEX Manager Rank Excess Returns Tracking Error Information Ratio Sharpe Ratio 2.50 (38) 5th Percentile th Percentile Median th Percentile th Percentile (69) 0.85 (35) 1.12 (22) Manager Rank Annualized Alpha Jensen Alpha Sortino Ratio Treynor Ratio 4.03 (27) 5th Percentile th Percentile Median th Percentile th Percentile (28) 2.09 (29) (25)

13 Side-By-Side Comparison Tables June 30, 2007 PORTFOLIO CHARACTERISTICS Firm Product Primary Cap Primary Style # Holdings P/E (Trail) P/B (Trail) Wgtd. Avg. Mkt. Cap Median Mkt. Cap % Cash Johnson Asset M... Large Cap Value x 2.1x $47,515 $21, % SECTOR ALLOCATIONS: S&P/MSCI GICS Firm Product Cons. Disc. Cons. Stpls. Energy Financials Health Care Industrials Info. Tech. Materials Tele Svcs. Utilities Johnson Asset M % 6.7% 8.9% 26.3% 8.5% 7.9% 6.1% 10.4% 3.4% 4.9%