BALANCED FUND UNITED METHODIST CHURCH FOUNDATION AS OF 12/31/2002. Asset Allocation ($000) Equity Fund Fixed Income Fund Total

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Marshall Waters
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1 BALANCED FUND UNITED METHODIST CHURCH FOUNDATION AS OF 12/31/22 Asset Allocation ($) Fixed Income Fund Total 25,713 1,33, Fixed Income Fund 35.% 6.2% -16 Calendar Trailng Since Investment Returns (%) Curr Qtr YTD 12 Months 12/31/ Balanced Fund Target Benchmark* Equity Benchmark** Fixed Income Fund LB Intermediate Govt/Corp. Bonds * Target Benchmark consists of 35% of the LB Intermediate Govt/Credit Bond index and 65% of the Equity Benchmark. **Equity Benchmark consists of 1% of the Russell 1, 1% of the Russell 1 Growth, 1% of the Russell 1 Value, 11.5% of the Russell 2 Growth, 11.5% of the Russell 2 Value, and 23% of the MS All Country World Free ex US equity indices. Curr Qtr Calendar YTD Trailng 12 Months Since 12/31/ Balanced Fund Asset Growth ($) Beginning Market Value 1, 51,579 51,579 55,92 Net Contributions & Withdrawals -3,9 -,65 -,65-5,91 Gain/Loss + Income 2,53-6,7-6,7-9,967 Ending Market Value,7,7,7,7 Target Benchmark* 1% 9% % 7% 6% 5% % 3% 2% 1% % FI 35.% Asset Allocation By Manager LCC 15.3% INTL 15.3% LCV 1.2% Allocation Over Time LCG.7% SCV.% SCG 6.6% Dec- Jun-1 Dec-1 Jun-2 Dec-2 Fixed Inc. Fund Salomon Smith Barney Consulting Group CITIGROUP. 1of 5

2 EQUITY FUND UNITED METHODIST CHURCH FOUNDATION AS OF 12/31/22 Asset Allocation ($) Dom. Eq Intl Eq Cash Total 1 19,723 6, , Intl Eq 23.7% Cash 3.7% Dom. Eq 72.6% -25 Curr Qtr Since 12/31/1 Trailing 12 Months Since 12/31/ Since Trailing Since Investment Returns (%) Curr Qtr 12/31/1 12 Months 12/31/ Target Benchmark* Target Benchmark* INTL 23.% Asset Allocation By Portfolio LCC 23.9% LCV 15.9% Large Cap Core Portoflio Russ Large Cap Value Portfolio Russ 1 Value Large Cap Growth Portoflio Russ 1 Growth Small/Mid Cap Value Portfolio Russ 2 Value Small/Mid Cap Growth Portoflio Russ 2 Growth International Equity Portfolio MSCI AC Wld Fr XUS Asset Growth ($) Beginning Market Value 27,65 3,19 3,19 36,77 Net Contributions & Withdrawals -2,67-2,61-2,61 3,557 Gain/Loss + Income 2,15 -,36 -,36-12,6 Ending Market Value 27,1 27,1 27,1 27,1 * Target Benchmark consists of 1% R1, 1% R1G, 1% R1V, 11.5% R2G, 11.5% R2V, and 23% MS AC World Free XUS. Salomon Smith Barney Consulting Group CITIGROUP. 1% 9% % 7% 6% 5% % 3% 2% 1% % SCG 1.3% SCV 12.5% Allocation Over Time LCG 13.6% Dec- Jun-1 Dec-1 Jun-2 Dec-2 Dom. Eq Intl Eq Cash 2of 5

3 FIXED INCOME FUND UNITED METHODIST CHURCH FOUNDATION AS OF 12/31/ Asset Allocation ($)* Govt Corporate ABS/MBS Accruals Cash/MM 2,99 5,391 5, Total 1,36 Cash/MM 6.1% Accruals 1.% Govt 2.5% Corporate 37.5% 2 LB Interm Gov/Credit Portfolio Characteristics* Calendar Trailing Since Current Yield 6.% Avg. Maturity.59 yrs Investment Returns (%) Curr Qtr YTD 12 Months 12/31/ Yield to Mat..27% Duration 3.1 yrs FIXED INCOME FUND Avg. Coupon 6.26% LB Interm Gov/Credit # of Bonds Risk / Return Analysis Since 12/31/2 Asset Growth ($) Beginning Market Value 15,61 15,315 15,315 19,5 Net Contributions & Withdrawals -1,2-2,2-2,2-7,22 Gain/Loss + Income 12 1,113 1,113 2,35 Ending Market Value 1,36 1,36 1,36 1,36 A 3.6% FIXED INCOME FUND Bond Quality* UST 19.% 27. Bond Maturity Distribution* Annualized Return% ABS/MBS 3.9% Annualized Standard Deviation% AGY 9.5% FIXED INCOME FUND LB Interm Gov/Credit LB Govt/ Credit AA 1.% AAA 21.7% Under 1 Year Over 2 Annualized % Return Std. Dev. FIXED INCOME FUND LB Interm Gov/Credit LB Govt/ Credit * Provided by Metropolitan West Asset Management Salomon Smith Barney Consulting Group CITIGROUP. 3of 5

4 INTERNATIONAL EQUITY PORTFOLIO UNITED METHODIST CHURCH FOUNDATION #15-2 AS OF 12/31/ Asset Allocation ($) Intl Eq Cash Total 7, ,26 Cash 2.2% Curr Qtr Since 12/31/1 Trailing 12 Months Since 12/31/ Intl Eq 97.% INTL EQUITY PORTFOLIO MSCI AC Wld Fr XUS Portfolio Characteristics Since Trailing Since Yield 2.3% Account Sharpe Ratio -.7 Investment Returns (%) Since: Curr Qtr 12/31/1 12 Months 12/31/ Beta 1.1 Index Sharpe Ratio -1. INTL EQUITY PORTFOLIO Alpha 7.6% # Equity Positions 57 MSCI AC Wld Fr XUS R 2 91% Risk / Return Analysis Since 12/31/2 Asset Growth ($) Beginning Market Value 7,397,671,671,315 Net Contributions & Withdrawals ,36 Gain/Loss + Income 577-1,67-1,67-2,15 Ending Market Value 7,26 7,26 7,26 7,26 Top Equity Holdings Economic Sector Allocation Stock Sector % Port % Port *** Repsol S A Sponsored Adr Energy. Telecommunication Se 2.9 *** Deutsche Telekom Ag Sp Adr Telecommunication Se 3. Financials 1.2 *** Petroleo Brasileiro Sa Adr Energy 3.2 Energy 11. *** Hsbc Hldg Plc Sp Adr New Financials 3.1 Materials 1.9 *** Ing Groep Nv Spons Adr Financials 2.9 Consumer Discretiona. *** Tyco Intl Ltd New Industrials 2.7 Information Technolo 6. *** Telefonos De Mexico Sp Adr Telecommunication Se 2.6 Industrials 6.1 Annualized % Return Std. Dev. *** Nippon Tel & Tel Spon Adr Telecommunication Se 2.5 Utilities 5. INTL EQUITY PORTFOLIO *** E Onag Spons Adr Utilities 2. Other 2.6 MSCI AC Wld Fr XUS *** Abn Amro Hldg Nv Spon Adr Financials 2. Cash Equivalents 2.1 Miscellaneous Equity 1. Health Care 1.6 Annualized Return% Annualized Standard Deviation% INTL EQUITY PORTFOLIO MSCI AC Wld Fr XUS Salomon Smith Barney Consulting Group CITIGROUP x of 5

5 Information Disclosures Please notify your Financial Consultant if there have been any changes in your financial situation, investment objectives, requested restrictions or other instructions which might affect the services to be provided to you or the manner in which your assets should be invested. We have available at no cost an investment advisory services disclosure document which describes our investment advisory services and those of any investment advisors managing your account. If you would like a copy, please contact your Financial Consultant. Sources and Intent This investment evaluation is directed only to the client for whom the evaluation was performed. The underlying data has been obtained from sources considered to be reliable but its accuracy and completeness cannot be assured. This evaluation is for informational purposes only and is not intended to be an offer, solicitation, or recommendation with respect to the purchase or sale of any security or a recommendation of the services supplied by any money management organization. Performance for periods greater than one year is annualized. Gross Rates of Return The investment results depicted herein represent historical Gross performance before the deduction of investment advisory fees and transaction costs and are based on settlement date accounting methods. Annual, cumulative and annualized total returns are calculated assuming reinvestment of dividends and income plus capital appreciation. Past results are not necessarily indicative of future performance. Fees are disclosed either in the Consulting Group wrap fee brochure or Part II of the form ADV for the manager. Returns will be reduced by expenses that include advisory fees. As fees are deducted quarterly, the compounding effect will be to increase the impact of the fees by an amount directly related to the gross account performance. For example, on an account with a 2% fee, if the gross performance is 1%, the compounding effect of the fees will result in a net performance of approximately 7.1%. Net Rates of Return The investment results depicted herein represent historical Net performance after the deduction of investment advisory fees and transaction costs except that fund performance shown does not reflect deduction of investment advisory fees charged directly to clients and are based on settlement date accounting methods. Annual, cumulative and annualized total returns are calculated assuming reinvestment of dividends and income plus capital appreciation. Past results are not necessarily indicative of future performance. Fees are disclosed either in the Consulting Group wrap fee brochure or Part II of the form ADV for the manager. Returns for Balanced Fund, Fixed Income Fund,, and all Portfolios listed on the page are derived from monthly Unit Value Accounting reconciliation. Advisory Notice The Fiduciary Services-Affiliated Program and the Fiduciary Services-Unaffiliated Manager Program are separate and distinct advisory programs. Absent your written authorization, assets may only be transferred among managers within the particular program. List of Composite Accounts The Composite account presentation includes the following accounts: 15-25, 15-2, 15-23, 15-21, 15-2, , The Balanced Fund Composite account presentation includes the following accounts: 15-25, 15-2, 15-23, 15-21, 15-2, , 15-23, Performance for the, Balanced Fund, and Fixed Income Fund are based on Unit Value Accounting statements provided by the client. Vestek Performance Attribution Analysis The included analysis is based upon information supplied by the Client or its custodian and software developed by Vestek Systems. The underlying data is believed to be reliable but accuracy and completeness cannot be assured. While the characteristics described in this report are believed to accurately reflect the overall nature of the portfolio, all of the constituent securities may not have been considered. This evaluation is for informational purposes only and is not intended to be an offer, solicitation or recommendation with respect to the purchase or sale of any security or a recommendation of the services provided by any money management organization. Past results are not necessarily indicative of future performance. Salomon Smith Barney Consulting Group CITIGROUP. 5of 5

ACCG - Workers Compensation Portfolio Evaluation. Client Advisor: L. Ferber Buckley 3414 Peachtree Road, N.E. Atlanta, GA (800)

ACCG - Workers Compensation Portfolio Evaluation. Client Advisor: L. Ferber Buckley 3414 Peachtree Road, N.E. Atlanta, GA (800) Portfolio Evaluation First Quarter 2008 Client Advisor: L. Ferber Buckley 3414 Peachtree Road, N.E. Atlanta, GA 30326 (800) 241-2130 Table of Contents Report (Composite Portfolio) Separator Important Information