Performance Evaluation Report for Unit Trusts Included under the CPFIS for the Period Ended September 30, 2002 RETURN PERFORMANCE OVERVIEW

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1 Singapore Unit Trusts CPFIS Past Quarter Past 1 Year Past 3 Years Asset Alloc Asia Pac ex Japan AIG Int Fds Acorns of Asia Asset Alloc FT Global DBS UP Guaranted 5.0/2 DBS UP Guaranted 5.0/3 DBS UP Guaranted 7.0/2 DBS UP Guaranted 7.0/3 OCBC Capital Guar Inv 08/2003 SGAM Capital GTD Global Growth SGAM Dynamic Tri Sector SGAM Global Guaranteed Fd UOB United Cap Guar-Series 1 Asset Alloc Global Defensive DBS Eight Portfolio A OCBC Multi Ad Pr Conservative 60% MSCI AC FE Free Ex Jap (DTR Net)SGD/40% JP Morgan Sing Govt The Guaranteed s for the Class The Guaranteed s for the Class The Guaranteed s for the Class The Guaranteed s for the Class CPF Ordinary Account % 1 Month SIBID Month SIBID Month SIBID Annual Interest rate payable on CPF OA+1.50% 35%LehmanBrosGlbAggr/45 %3MthSIBID/15% MSCI WldFreeSGD/5%STI 30% MSCI World & 70& JP Morgan SGB Asset Alloc Global Dynamic DBS Eight Portfolio D Higher 10%LehmanBrosGbAggr/10 %3 MthSIBID/70%MSCIWldFreeI ndexsgd/10%sti OCBC Multi Ad Pr Growth Ptf Higher 80% MSCI World + 20% JP Morgan SGB UOB United Millennium 3 Higher 20% Sal G7 Gov Bond & 80% MSCI AC World Free Asset Alloc Global Neutral Aviva Global Managed Balanced Performance Evaluation Report for Unit Trusts Included under the CPFIS for the Period Ended September 30, %MSCI World 45% JP Morgan Glb Bonds 5% LIBOR Deutsche Premier Select Dresdner Intl Prov Glb Balanced DBS Eight Portfolio B DBS Eight Portfolio C First State Global Balanced Franklin Templeton F-Global Bal Henderson Global Balanced Fund OCBC Multi Ad Pr Balanced Ptf Schroder Balanced Growth UOB United Millennium 1 UOB United Millennium 2 Asset Alloc Singapore Neutral Keppel Singapore Balanced 30% MSCI World + 30% MSCI Singapore Total + 40% 3m SIBOR 50% MSCI World + 50% Salomon World Government Bond 30%LehmanBrosGlbAggr/30 %3MthSIBID/35% MSCI WldFreeSGD 5%STI 20%LehmanBrosGlbAgg/20% 3MthSIBID/50% MSCIWldFreeSGD/10% STI 60% MSCI World & 40% Salomon World Government Bond 60% MSCI All Country Free Gross + 40% JP Mogan Global Govt Bond* MSCI World & Salomon Brothers World Government Bond 50% MSCI World & 50% JP Morgan SGB 60% MSCI World & 40% Salomon World Government Bond 60% Sal G7 Gov Bond & 40% MSCI AC World Free 40% Sal G7 Gov Bond & 60% MSCI AC World Free 50% Singapore Straits Times + 50% CPF Ordinary Account Interest Equity Asia Pacific Schroder Pan Asia Fund Higher MSCI AC Asia Pacific Free wef

2 Singapore Unit Trusts CPFIS Past Quarter Past 1 Year Past 3 Years UOB United Asia Top 50 Higher MSCI AC Far East Free Grs USD UOB United Regional Growth Higher MSCI AC Asia Pacific FF USD Equity Asia Pacific ex Japan Aberdeen Pacific Equity Higher MSCI AC Asia Pac Fr ex Japan AIG Int Fds Asian Equities Higher MSCI Far East ex-japan AC Free DTR Net (USD) DBS Shenton Asia Pacific Higher MSCI All Countries Far East Free excluding Japan Deutsche Asia Premier Trust Higher MSCI AC Far East ex Japan Total Dresdner Asia Tiger Higher MSCI AC Far East Free ex Japan First State Asia-Pacific Growth Higher MSCI AC Far East Free ex Japan Rothschild Five Arrows Asian Enter Higher MSCI AC Far East Free ex Japan (S$) Rothschild Five Arrows SEA SpeciaHigher MSCI AC Far East Free exjap exhk extaiwanex Korea (SGD) Franklin Templeton F-Asian DevEq Higher MSCI All Country Asia Free ex-japan Franklin Templeton F-Asian Grth Higher MSCI All Country Asia Free ex-japan Henderson Pacific Dragon Higher MSCI All Countries Pacific Ex Japan Free DBS Horizon Asia Ex-Japan Equity Higher MSCI All Country Pacific Basin ex-japan Free HSBC Asian Growth Higher MSCI AC FE Fr japan Grs USD! Indocam Asia Vision Higher MSCI Far East ex Japan INVESCO GT Asia Enterprise Higher MSCI AC Far East Free ex- Japan Keppel Asia Blue Chip Higher MSCI AC Far East ex Japan Free Keppel South East Asia Higher MSCI AC Far East ex Japan Free Aviva Asia Pacific Growth Higher FTSE Pacific Ex Jap OCBC Asia Pacific Higher MSCI AC Asia Pacific Free ex Japan Optimix Asian Equity Higher MSCI AC Far East Free ex Japan Schroder Asian Growth Fund Higher MSCI AC Far East Free ex Japan UOB United Asia Higher MSCI AC Far East Free ex Japan Grs USD Equity China Aberdeen China Opportunities Higher CLSA China World Cap HSBC Chinese Growth Higher Credit Lyonnais Securities Asia China World Equity Euroland Aviva European Growth Fund Higher DJ ESTOXX EUR Equity Europe ABN AMRO Star Europe Equity Higher MSCI Europe AIG Int Fds Pan European Equity Higher MSCI Europe DTR Net (USD) Dresdner Intl Prov European Eqty Higher MSCI Europe in SGD Franklin Templeton F-Europ Eqty Higher MSCI Europe HSBC Pan European Growth Higher FTSE World Europe GBP OCBC Infinity European Stock Inde Higher MSCI European INVESCO GT Pan European Higher MSCI Europe PRU European Blue Chip Equity Higher FTSE Eurotop Schroder European Equity Higher MSCI Europe UOB United European Equity Higher MSCI Europe Grs USD Equity Europe Emerging Mkts Aviva EU Convergence Growth Higher Not Applicable Equity Europe ex UK Aberdeen Continental Europe Eqty Higher FTSE Europe ex UK Henderson European Higher FTSE World Europe ex UK Equity Fix Term China Schroder SGD China Cap Pro 04/06 Equity Fix Term Europe Schroder SGD Enhanced Ret II Schroder SGD Enhanced

3 Singapore Unit Trusts CPFIS Past Quarter Past 1 Year Past 3 Years Equity Fix Term Global DBS SWING 2/1-90% DBS SWING 5/1-105% DBS SWING 5/2-105% DBS UPSWING 5.0/2/100% DBS UPSWING 5.0/2/90% Schroder SGD Cap Pres Aug 04 Schroder SGD Glb Ret Nov 2005 Schroder SGD Glb Ret Oct 2005 Schroder SGD Prot June 2004 SGAM Global Sector Rotation SGD Equity Fix Term North America OCBC Annual Payout Fund OCBC Greenhouse SGD Fund OCBC Payout Plus Fund I SGAM Continuous Growth Fund SGAM US Continuum Fd UOB United Cap Guar-80 Plus UOB United Cap Guar-80+Ser 2 Equity Fix Term Singapore Keppel Cap Gua Sing Mkt Ser 2 Optimix Guaranteed Fund DBS Banks 12-month fixed deposit SGD rate DBS Banks 12-month fixed deposit SGD rate DBS Banks 12-month fixed deposit SGD rate DBS Banks 12-month fixed deposit SGD rate DBS Banks 12-month fixed deposit SGD rate Month SIBID Month Singapore Dollar Fixed Month Singapore Dollar Fixed 12 Month Singapore Dollar Fixed 1 Month SIBID Annual Ave Daily1 Month SGD Interbank Bid Annual interest rate payable on CPF OA by CPF Board Prevailing annual interest rate payable on CPF Ordinary Accounts Straits Times Month SIBID Equity Global ACMIF Global Growth Trends Higher MSCI World Aviva Global Managed Equity Higher FTSE World Aviva Global Themes Higher MSCI World DBS Global Best Ideas Fd Higher MSCI World DBS Mendaki Global Higher MSCI World Free DBS Shenton Glb Opportunities Higher MSCI World Free DBS Eight Portfolio E Higher 85% MSCI World Free (SGD) - 15% STI First State Global 100 Growth Higher MSCI World Rothschild Five Arrows Worldwide EHigher MSCI AC World Free (S$) Franklin Templeton F-Global Gth Higher MSCI All Country World Free Gross Henderson Global Equity Fund Higher MSCI World DBS Horizon Global Equity Higher Russ1000Nt 30%/FTSE AS/Topix/FT- Eurex- UK/MSCI AC PacBasexJap HSBC Global Growth Higher MSCI World Grs USD! OCBC Infinity Global Stock Higher MSCI World OCBC Multi Ad Pr Aggressive Ptf Higher MSCI World OCBC Savers Global Trust Higher MSCI AC World Free Gr OCBC Team Glb Industrial & Res Higher 30% MSCI World Energy % MSCI World Materials + 5 Optimix Sure Fund Higher FTSE World Actuaries-Euro World Optimix Worlwide Equity Higher MSCI AC World Free Schroder Global Enterprise Higher MSCI World UOB United International Growth Higher MSCI AC World Free Grs USD Equity Global Emerging Mkts Aviva Emerging Countries Growth Higher MSCI Emerging Markets Free Franklin Templeton F-Emerg Mkts Higher MSCI Emerging Mkts Free

4 Singapore Unit Trusts CPFIS Past Quarter Past 1 Year Past 3 Years INVESCO GT Developing Markets Higher MSCI Emerging Markets Free Schroder Emerging Markets Higher MSCI EMF (Emerging Markets Free) Equity Greater China First State Regional China Higher MSCI Golden Dragon Franklin Templeton F-China Higher MSCI China Free OCBC Savers China Growth Higher CLSA Greater China UOB United Greater China Higher MSCI Golden Dragon Grs USD Equity India HSBC Indian Growth Higher /IFC India USD! Equity Indonesia Aberdeen Indonesia Equity Higher Indonesia JSE Composite Equity Japan Aberdeen Japan Equity Higher Japan Topix ABN AMRO Star Beh Finance Japa Higher MSCI Japan AIG Int Fds Japan New Horizon Eq Higher MSCI Japan DTR Net (USD) DBS Japan Growth Higher Nikkei 225 Stock Average DBS Horizon Japanese Equity Higher Topix HSBC Japanese Growth Higher Japan (TSE) First Selection (Topix)* Schroder Japanese Equity Higher Japan (TSE) First Section UOB United Japan Growth Higher Nikkei Equity Korea Franklin Templeton F-Korea Higher Korea Stock Exchange Composite Equity Malaysia Aberdeen Malaysia Equity Higher Malaysia KLSE Composite Equity Malaysia & Singapore First State Singapore Growth Higher Composite MSCI Singapore Free & MSCI Malaysia UOB Unifund Higher 50% STI & 50% KLEMAS Equity North America HSBC North American Growth Higher Standard & Poors Composite Equity Philippines Aberdeen Philippine Equity Higher Philippines PSE Composite Equity Singapore Aberdeen Singapore Equity Higher Singapore Straits Times DBS Shenton Thrift Higher Straits Times DBS Horizon Singapore Equity Higher DBS OCBC Savers Singapore Trust Higher MSCI Singapore Optimix Singapore Equity Higher SES All Singapore Schroder Singapore Trust Higher MSCI Singapore Free wef UOB United Growth Higher Singapore Straits Times Equity Thailand Aberdeen Thailand Equity Higher Thailand SET Franklin Templeton F-Thailand Higher Stock Exchange of Thailand (SET) Equity United Kingdom Aberdeen UK Blue Chip Higher FTSE DBS Horizon UK Equity Higher FT-SE A All Share Equity USA AIG Int Fds American Equities Higher Franklin Templeton F-US Agg Grth Higher Russell 3000 Growth DBS Horizon US Equity Higher Russell 1000 Net 30% OCBC Infinity US 500 Stock Higher Fixed Income Fix Term SGD SGAM Guaranteed Lower 3% per annum noncompounded Fixed Income Global AIG Int Fds Multi Currency Bond Aviva Global Managed Bond Citi Global Bond DBS Shenton Dynamic Bond Salomon Bros World Government Bond (Unhedged) JP Morgan Global Traded JP Morgan Global Traded Government Bond (hedged to SGD) Salomon Brothers G 5 Government Bond

5 Singapore Unit Trusts CPFIS Past Quarter Past 1 Year Past 3 Years Rothschild Five Arrows Global Bond Henderson Global Bond A DBS Horizon Global Bond SGD HSBC Global Fixed Income INVESCO GT Bond OCBC Savers Global Bond Optimix Worlwide Bond Fixed Income SGD AIG Int Fds Singapore Bond Salomon Smith Barney World Government Bond (S$) Salomon Brothers World Government Bond Lehman Bros Global Agg Hedged (S$ Hedged) Sl WGBI USD! JP Morgan Global Traded Bond Month SIBID Salomon World Govenrment 1-3 yrs JP Morgan Sing Gov Bd CitiBond Singapore A Lower 70% 3m SIBID/ 30% UOB SGS in SGD COM Singapore Bond DBSSE 12M Deutsche Lion Bond Lower 6 Month Step-Ladder SIBID DBS Horizon Singapore Fixed Inc E 3-month SIBID HSBC Singapore Bond A OCBC Team Sing Fixed Income Inv Fixed Income USD Franklin Templeton F-US Govt Floor Funds Global PRU Prot Global Titans SGD Floor Funds USA Optimix Cont Click 500 SGD DBS SGD 12 Month Fixed Deposit JP Morgan SGD Lehman Intermediate Govt (US) CPF Ordinary Account Interest Sector - Biotechnology Dresdner Intl Global Biotech Higher 75% Nasdaq Biotec & 25% MSCI World Pharmaceuticals Month SGD Deposit Franklin Templeton F-Life Sci Higher AMEX Biotechology UBS (SG) IF-Biotech Higher Nasdaq Biotechnology (NBI) Sector - Consumer Goods Global OCBC Team Glb Consumer Invt Higher 70% MSCI World Cons Disc + 30% MSCI World Cons Staples Ind Sector - Finance Global OCBC Team Glb Fin Services Invt Higher MSCI World Financial Sector - Healthcare Global ACMIF International HealthCare Higher MSCI World in SGD INVESCO GT Healthcare Higher MSCI World Healthcare OCBC Team Glb Healthcare Invt Higher MSCI World Healtcare UOB United Global Healthcare Higher MSCI World Healthcare Grs USD Sector - Prop Shrs Europe Henderson European Property Sec Higher EPRA - (UK Restricted) Sector - TMT Asia Pacific ACMIF Asian Technology Portfolio Higher Dow Jones Asia Pacific Technology in SGD Sector - TMT Asia Pacific ex Japan SGAM New Economy Fund Higher MSCI AC Asia Pacific (excluding Japan) UBS (SG) IF-Asian Technology Higher Dow Jones Custom Asian (ex Jap) Tech SM Sector - TMT Global Aberdeen Global Technology Higher Merrill Lynch 100 Technology ABN AMRO Star Global TechnologyHigher MSCI WORLD Info Tech COM Global Infotechnology Higher WLD-Information Tech Hardware/WLD-Software & Computer Services Dresdner Global Internet Higher Dow Jones Internet Dresdner Global Multimedia Higher MSCI Multimedia Dresdner Intl Prov Glb Software Higher Data Stream World Software Dresdner Intl Prov Global Tech Higher MSCI Technology

6 Singapore Unit Trusts CPFIS Past Quarter Past 1 Year Past 3 Years Henderson Global Technology Higher FTSE World HSBC Global Technology Growth Higher Technology/Media/Telecom Subsectors of the MSCI World INVESCO GT Technology Higher MSCI World Info Tech OCBC Team Glb Tech & Telecom I Higher 70% MSCI World Info tech 30% MSCI World Telecommunications Optimix E-Commerce Higher MSCI AC World Free PRU Global Technology Higher FTSE World IT Schroder Global Technology Higher MSCI World Information Technology UOB United Global Technology Higher 100% Dow Jones Technology Short Term Bd SGD Optimix SGD Fund Lower 6 Month SIBID Short Term Bd USD ACM Short Maturity Dollar Pftl SGD Reuters US Treasury Bill 3 Month Daily Total Smllr Companies Europe AIG Int Fds Europe Small Co Eqty Higher HSBC Small Euro Cos Euro UK Smllr Companies Global Franklin Templeton F-Gbl Sm Co Higher Salomon Less Than US$2 Billion* INVESCO GT Global Enterprise Higher MSCI World Small Cap** Schroder Global Smaller Co's Higher Salomon Smith Barney EMI World

7 3-YEAR RISK PERFORMANCE ANALYSIS & LATEST FUND SIZE AND EXPENSE RATIO INFORMATION Singapore Unit Trusts Information Ann Sharpe Volatility Best Qtr Worst Qtr Max Gain/Loss Latest Fnd Sz Dt Expense Expense Ratio Ratio Loss Ratio Fund Ratio Ratio Rsk Fr 2.50% Size (m) (S$) Date Asset Alloc Asia Pac ex Japan AIG Int Fds Acorns of Asia /30/ /28/02 Asset Alloc FT Global DBS UP Guaranted 5.0/ /30/ /30/02 DBS UP Guaranted 5.0/ /30/ /30/02 DBS UP Guaranted 7.0/ /30/ /30/02 DBS UP Guaranted 7.0/ /30/ /30/02 OCBC Capital Guar Inv 08/ /30/ /30/02 SGAM Capital GTD Global Growth /30/ /30/02 SGAM Dynamic Tri Sector /30/ /30/02 SGAM Global Guaranteed Fd N/S - UOB United Cap Guar-Series /30/ /30/02 Asset Alloc Global Defensive DBS Eight Portfolio A /30/ /30/02 OCBC Multi Ad Pr Conservative N/S /30/02 Asset Alloc Global Dynamic DBS Eight Portfolio D /30/ /30/02 OCBC Multi Ad Pr Growth Ptf N/S /30/02 UOB United Millennium /30/ /30/02 Asset Alloc Global Neutral Aviva Global Managed Balanced /30/ /30/02 Deutsche Premier Select /30/ /30/02 Dresdner Intl Prov Glb Balanced /30/ /30/02 DBS Eight Portfolio B /30/ /30/02 DBS Eight Portfolio C /30/ /30/02 First State Global Balanced /30/ /30/02 Franklin Templeton F-Global Bal /30/ /30/02 Henderson Global Balanced Fund /30/ /28/02 OCBC Multi Ad Pr Balanced Ptf N/S /30/02 Schroder Balanced Growth /30/ /28/02 UOB United Millennium /30/ /30/02 UOB United Millennium /30/ /30/02 Asset Alloc Singapore Neutral Keppel Singapore Balanced /30/ /30/02 Equity Asia Pacific Schroder Pan Asia Fund /30/ /28/02 UOB United Asia Top /30/ /30/02 UOB United Regional Growth /30/ /30/02 Equity Asia Pacific ex Japan Aberdeen Pacific Equity /30/ /30/02 AIG Int Fds Asian Equities /30/ /28/02 Aviva Asia Pacific Growth /30/ /30/02 DBS Shenton Asia Pacific /30/ /30/02 Deutsche Asia Premier Trust /30/ /30/02 Dresdner Asia Tiger /30/ /30/02 First State Asia-Pacific Growth /30/ /30/02 Rothschild Five Arrows Asian Enterprise /30/ /30/02 Rothschild Five Arrows SEA Special Sits /30/ /30/02 Franklin Templeton F-Asian DevEq /30/ /30/02 Franklin Templeton F-Asian Grth /30/ /30/02 Henderson Pacific Dragon /30/ /28/02 DBS Horizon Asia Ex-Japan Equity /30/ /30/02 HSBC Asian Growth /30/ /31/02 Indocam Asia Vision /30/ /30/02 INVESCO GT Asia Enterprise /30/ /28/02 Keppel Asia Blue Chip /30/ /30/02 Keppel South East Asia /30/ /30/02 OCBC Asia Pacific /30/ /30/02 Optimix Asian Equity /30/ /30/02 Schroder Asian Growth Fund /30/ /28/02 UOB United Asia /30/ /30/02 Equity China Aberdeen China Opportunities /30/ /30/02 HSBC Chinese Growth /30/ /31/02 Equity Euroland Aviva European Growth Fund /30/ /30/02 Equity Europe ABN AMRO Star Europe Equity /30/ /30/02 AIG Int Fds Pan European Equity /30/ /28/02 Dresdner Intl Prov European Eqty /30/ /30/02-7 -

8 3-YEAR RISK PERFORMANCE ANALYSIS & LATEST FUND SIZE AND EXPENSE RATIO INFORMATION Singapore Unit Trusts Information Ann Sharpe Volatility Best Qtr Worst Qtr Max Gain/Loss Latest Fnd Sz Dt Expense Expense Ratio Ratio Loss Ratio Fund Ratio Ratio Rsk Fr 2.50% Size (m) (S$) Date Franklin Templeton F-Europ Eqty /30/ /30/02 HSBC Pan European Growth /30/ /31/02 OCBC Infinity European Stock /30/ /30/02 INVESCO GT Pan European /30/ /28/02 PRU European Blue Chip Equity /30/ /30/02 Schroder European Equity /30/ /28/02 UOB United European Equity /30/ /30/02 Equity Europe Emerging Mkts Aviva EU Convergence Growth /30/ /30/02 Equity Europe ex UK Aberdeen Continental Europe Eqty /30/ /30/02 Henderson European /30/ /28/02 Equity Fix Term China Schroder SGD China Cap Pro 04/ /30/02 - Equity Fix Term Europe Schroder SGD Enhanced Ret II N/S - Schroder SGD Enhanced /30/02 - Equity Fix Term Global DBS SWING 2/1-90% /30/ /30/02 DBS SWING 5/1-105% /30/ /30/02 DBS SWING 5/2-105% /30/02 - DBS UPSWING 5.0/2/100% /30/ /30/02 DBS UPSWING 5.0/2/90% /30/ /30/02 Schroder SGD Cap Pres Aug /30/ /28/02 Schroder SGD Glb Ret Nov /30/02 - Schroder SGD Glb Ret Oct /30/02 - Schroder SGD Prot June /30/ /28/02 SGAM Global Sector Rotation SGD /30/ /30/02 Equity Fix Term North America OCBC Annual Payout Fund /30/ /30/02 OCBC Greenhouse SGD Fund /30/ /30/02 OCBC Payout Plus Fund I /30/02 - SGAM Continuous Growth Fund /30/ /30/02 SGAM US Continuum Fd /30/ /30/02 UOB United Cap Guar-80 Plus /30/ /30/02 UOB United Cap Guar-80+Ser /30/ /30/02 Equity Fix Term Singapore Keppel Cap Gua Sing Mkt Ser /30/ /30/02 Optimix Guaranteed Fund /30/ /30/02 Equity Global ACMIF Global Growth Trends A /30/ /30/02 Aviva Global Managed Equity /30/ /30/02 Aviva Global Themes /30/ /30/02 DBS Global Best Ideas Fd N/S - DBS Mendaki Global /30/ /30/02 DBS Shenton Global Opportunities /30/ /30/02 DBS Eight Portfolio E /30/ /30/02 First State Global 100 Growth /30/ /30/02 Rothschild Five Arrows Worldwide Enterp /30/ /30/02 Franklin Templeton F-Global Gth /30/ /30/02 Henderson Global Equity Fund /30/ /28/02 DBS Horizon Global Equity /30/ /30/02 HSBC Global Growth /30/ /31/02 OCBC Infinity Global Stock /30/ /30/02 OCBC Multi Ad Pr Aggressive Ptf N/S /30/02 OCBC Savers Global Trust /30/ /30/02 OCBC Team Glb Industrial & Res N/S /30/02 Optimix Sure Fund /30/ /30/02 Optimix Worlwide Equity /30/ /30/02 Schroder Global Enterprise /30/ /28/02 UOB United International Growth /30/ /30/02 Equity Global Emerging Mkts Aviva Emerging Countries Growth /30/ /30/02 Franklin Templeton F-Emerg Mkts /30/ /30/02 INVESCO GT Developing Markets /30/ /28/02 Schroder Emerging Markets /30/ /28/02 Equity Greater China First State Regional China /30/ /30/02 Franklin Templeton F-China /30/ /30/02 OCBC Savers China Growth /30/ /30/02-8 -

9 3-YEAR RISK PERFORMANCE ANALYSIS & LATEST FUND SIZE AND EXPENSE RATIO INFORMATION Singapore Unit Trusts Information Ann Sharpe Volatility Best Qtr Worst Qtr Max Gain/Loss Latest Fnd Sz Dt Expense Expense Ratio Ratio Loss Ratio Fund Ratio Ratio Rsk Fr 2.50% Size (m) (S$) Date UOB United Greater China /30/ /30/02 Equity India HSBC Indian Growth /30/ /31/02 Equity Indonesia Aberdeen Indonesia Equity /30/ /30/02 Equity Japan Aberdeen Japan Equity /30/ /30/02 ABN AMRO Star Beh Finance Japan /30/ /30/02 AIG Int Fds Japan New Horizon Eq /30/02 - DBS Japan Growth /30/ /30/02 DBS Horizon Japanese Equity /30/ /30/02 HSBC Japanese Growth /30/ /31/02 Schroder Japanese Equity /30/ /28/02 UOB United Japan Growth /30/ /30/02 Equity Korea Franklin Templeton F-Korea /30/ /30/02 Equity Malaysia Aberdeen Malaysia Equity /30/ /30/02 Equity Malaysia & Singapore First State Singapore Growth /30/ /30/02 UOB Unifund /30/ /30/02 Equity North America HSBC North American Growth /30/ /31/02 Equity Philippines Aberdeen Philippine Equity /30/ /30/02 Equity Singapore Aberdeen Singapore Equity /30/ /30/02 DBS Shenton Thrift /30/ /30/02 DBS Horizon Singapore Equity /30/ /31/01 OCBC Savers Singapore Trust /30/ /30/02 Optimix Singapore Equity /30/ /30/02 Schroder Singapore Trust /30/ /28/02 UOB United Growth /30/ /30/02 Equity Thailand Aberdeen Thailand Equity /30/ /30/02 Franklin Templeton F-Thailand /30/ /30/02 Equity United Kingdom Aberdeen UK Blue Chip /30/ /30/02 DBS Horizon UK Equity /30/ /31/01 Equity USA AIG Int Fds American Equities /30/ /28/02 Franklin Templeton F-US Agg Grth /30/ /30/02 DBS Horizon US Equity /30/ /30/02 OCBC Infinity US 500 Stock /30/ /30/02 Fixed Income Fix Term SGD SGAM Guaranteed /30/ /30/02 Fixed Income Global AIG Int Fds Multi Currency Bond /30/ /28/02 Aviva Global Managed Bond /30/ /30/02 Citi Global Bond /30/ /28/02 DBS Shenton Dynamic Bond /30/ /30/02 Rothschild Five Arrows Global Bond Trus /30/ /30/02 Henderson Global Bond A /30/ /28/02 DBS Horizon Global Bond SGD /30/ /30/02 HSBC Global Fixed Income /30/ /31/02 INVESCO GT Bond /30/ /28/02 OCBC Savers Global Bond /30/ /30/02 Optimix Worlwide Bond /30/ /30/02 Fixed Income SGD AIG Int Fds Singapore Bond /30/02 - CitiBond Singapore A /30/ /28/02 COM Singapore Bond /30/ /30/02 Deutsche Lion Bond /30/ /30/02 DBS Horizon Singapore Fixed Inc Enh /30/ /31/01 HSBC Singapore Bond A /30/02 - OCBC Team Sing Fixed Income Invt N/S /30/02 Fixed Income USD Franklin Templeton F-US Govt /30/ /30/02 Floor Funds Global PRU Prot Global Titans SGD /30/ /30/02-9 -

10 3-YEAR RISK PERFORMANCE ANALYSIS & LATEST FUND SIZE AND EXPENSE RATIO INFORMATION Singapore Unit Trusts Information Ann Sharpe Volatility Best Qtr Worst Qtr Max Gain/Loss Latest Fnd Sz Dt Expense Expense Ratio Ratio Loss Ratio Fund Ratio Ratio Rsk Fr 2.50% Size (m) (S$) Date Floor Funds USA Optimix Cont Click 500 SGD /30/ /30/02 Sector - Biotechnology Dresdner Intl Global Biotech /30/ /30/02 Franklin Templeton F-Life Sci /30/ /30/02 UBS (SG) IF-Biotech /30/ /30/02 Sector - Consumer Goods Global OCBC Team Glb Consumer Invt N/S /30/02 Sector - Finance Global OCBC Team Glb Fin Services Invt N/S /30/02 Sector - Healthcare Global ACMIF International HealthCare A /30/ /30/02 INVESCO GT Healthcare /30/ /28/02 OCBC Team Glb Healthcare Invt N/S /30/02 UOB United Global Healthcare /30/ /30/02 Sector - Prop Shrs Europe Henderson European Property Sec /30/ /28/02 Sector - TMT Asia Pacific ACMIF Asian Technology Portfolio /30/ /30/02 Sector - TMT Asia Pacific ex Japan SGAM New Economy Fund /30/ /30/02 UBS (SG) IF-Asian Technology /30/ /30/02 Sector - TMT Global Aberdeen Global Technology /30/ /30/02 ABN AMRO Star Global Technology /30/ /30/02 COM Global Infotechnology /30/ /30/02 Dresdner Global Internet /30/ /30/02 Dresdner Global Multimedia /30/ /30/02 Dresdner Intl Prov Glb Software /30/ /30/02 Dresdner Intl Prov Global Tech /30/ /30/02 Henderson Global Technology /30/ /28/02 HSBC Global Technology Growth /30/ /31/02 INVESCO GT Technology /30/ /28/02 OCBC Team Glb Tech & Telecom Inv N/S /30/02 Optimix E-Commerce /30/ /30/02 PRU Global Technology /30/ /30/02 Schroder Global Technology /30/ /28/02 UOB United Global Technology /30/ /30/02 Short Term Bd SGD Optimix SGD Fund /30/ /30/02 Short Term Bd USD ACMIF Short Mat Dol Ptfl USD N/S - Smllr Companies Europe AIG Int Fds Europe Small Co Eqty /30/ /28/02 Smllr Companies Global Franklin Templeton F-Gbl Sm Co /30/ /30/02 INVESCO GT Global Enterprise /30/ /28/02 Schroder Global Smaller Co's /30/ /28/

11 Calculations Explanation: 1) Information Ratio: Information Ratio is calculated by taking the monthly difference between a fund's gross return and its benchmark return (in this case the sector average of the sector into which the fund falls), and then dividing that figure by the standard deviation of the monthly differences. The information ratio helps investors to understand how well the fund has been managed on a risk-adjusted basis relative to its peers. 2) Sharpe Ratio: Developed by Nobel laureate William Sharpe, this is a measurement of a fund's annualized return that is in excess of the risk-free rate (a theoretical interest rate that would be returned on an investment that is completely free of risk) and adjusted for the fund's volatility. The formula for the Sharpe Ratio is as follows: (Fund - -free )/Fund Standard Deviation. From this formula, it can be derived that the higher a fund's Sharpe Ratio, the better its returns relative to the amount of investment risk it has taken. 3) Volatility: This is a statistical method of measuring how much a fund's returns deviate (how much it moves up and down) from its average performance. In this analysis, we are looking at the volatility of a fund over the past 3 years up to the most recent quarter covered by this report. A high volatility indicates that a fund's returns have been volatile while a low figure would be the reverse. A less volatile fixed income fund for instance might have a volatility of less than 1 while an equity fund which is more fluctuating by nature might have a volatility of over 10. 4) Best Quarter %: The best quarterly return achieved by the fund over the past 3 years. 5) Worst Quarter %: The worst quarterly return achieved by the fund over the past 3 years. 6) Maximum Loss: The worst-possible return a fund has produced in any 3-month period over the past 3 years. 7) Gain/Loss Ratio: This ratio is calculated by dividing the sum of all positive fund returns (in percentage) over the past 3 years by the sum of all negative fund returns (in percentage) over the past 3 years. The higher the ratio, the greater the proportion of positive returns versus negative returns, therefore the better the fund's performance