Hypothetical Illustration

Transcription

1 Hypothetical Illustration February 17, 2003 Mutual Fund American Funds Balanced A American Funds Gr Fnd of America A American Funds Intm Bd Fd Amer A Index Thomson US: Aggressive Growth - MF Thomson US: Balanced - Domestic - MF Thomson US: Genl Bd - Inv Gr/Mkt - CE Thomson US: Growth & Income - MF U.S. 30-Day Treasury Bills Prepared For SAMPLE CLIENT FORENSIC INVESTMENTS, LLC PO BOX INDIANAPOLIS, IN This report is not complete unless all pages, as noted below, are included. Please read the information in "Important Disclosures" found at the front of this report. Page 1 of 35

2 Important Disclosures Standardized Average Annual Total Returns for Period Ended 9/30/2002 Returns for periods of less than one year are not annualized. Security Name Inception Maximum Since Date Sales Charge 1 Year 5 Years 10 Years Inception American Funds Balanced A 9/19/ % Front % 3.55% 8.83% 11.62% American Funds Balanced B 3/15/ % CDSC % % American Funds Balanced C 3/15/ % CDSC -9.15% % American Funds Balanced F 3/15/ % 4.72% 9.41% 11.79% American Funds Balanced R5 5/15/ % 5.07% 9.77% 12.15% American Funds Gr Fnd of America A 11/1/ % Front % 4.24% 11.48% 13.56% American Funds Gr Fnd of America B 3/15/ % CDSC % % American Funds Gr Fnd of America C 3/15/ % CDSC % % American Funds Gr Fnd of America F 3/15/ % 5.43% 12.07% 15.00% American Funds Gr Fnd of America R5 5/15/ % 5.76% 12.43% 15.37% American Funds Intm Bd Fd Amer A 2/19/ % Front 2.07% 5.76% 5.68% 6.75% American Funds Intm Bd Fd Amer B 3/15/ % CDSC 0.30% % American Funds Intm Bd Fd Amer C 3/15/ % CDSC 4.20% % American Funds Intm Bd Fd Amer F 3/15/ % 6.48% 6.00% 6.96% American Funds Intm Bd Fd Amer R5 5/15/ % 6.87% 6.39% 7.35% This historical information represents past performance and should not be considered indicative of future results. Principal value and investment return will fluctuate, so that an investor's shares/units when redeemed may be worth more or less than the original amount. The Standardized Average Annual Total Return figures shown above are calculated using the formula in form N-1A as mandated by the Securities and Exchange Commission. Except where noted, the calculations take into account the maximum sales and/or redemption charges currently in effect, and any annual expenses. The figures assume a one-time lump sum investment and do not include the effect of taxation. The illustration included herein does not reflect the effects of taxes in some or all of the investments. The Average Annual Return on the Account figure found on the fund table represents the overall growth rate realized on the investment, taking into account all investments and withdrawals, as well as any commission charges and taxes (if included). While it is a useful measure of the results of a hypothetical investment, it should not be the only criterion used to determine whether a security has performed well or poorly. The Cumulative figure found on the table represents the total, unannualized percentage change between the initial market value and the ending market value of the security or index in the illustration. A portion of expenses for the following fund(s) have been waived in the past: American Funds Intm Bd Fd Amer A. Past expense reductions by the fund's manager increased the fund's total returns. Period End Column - Data as of date for each row in the hypothetical. Invest Column - Dollar amount committed to investing in a security either on a one time or systematic basis. Withdraw Column - Dollar amount committed to being removed from an investment either on a one time or systematic basis. Charges Column - Dollar amount being charged to account stemming from sales or annual contract charges. Charges may appear as front-end loads, back-end loads, or periodic charges withdrawn from the account. Income Column - Dollar amount distributed from fund to shareholders derived from interest, dividends, or other income received by a mutual fund. Capital Gains Column - The mutual fund s distribution to shareholders of the profits derived from the sale of stocks or bonds. Reinvest Column - Dollar amount, stemming from fund distributions, committed to reinvesting in a mutual fund or portfolio in order to purchase more shares. Market Value Column - Current value of the hypothetical account calculated by the number of shares multiplied by the NAV. Shares Column - Number of mutual fund shares owned within the hypothetical illustration. NAV Column - Price of one mutual fund share calculated by dividing the total net assets by the number of shares outstanding. NAV s are adjusted by the fund company for expenses, including 12b-1 and other expenses. Value Column - Current value of the hypothetical account calculated by multiplying the number of shares by the share price. Page 2 of 35

3 Unit Value Column - Price of one subaccount unit calculated by dividing the total net assets by the number of units outstanding. AUV s are adjusted by the insurer for expenses, including Mortality and Expense charges. Thomson US: Aggressive Growth - MF is an equal weighted index of mutual funds within the stated investment category. Funds within this category seek maximum capital appreciation, by investing primarily in common stocks of companies that are believed to offer rapid growth potential. These funds tend to employ greater-than-average risk strategies than a typical growth fund in an attempt to gain a higher rate of return. Aggressive Growth funds have the flexibility to invest in companies with any capitalization. The funds represented by this index involve investment risks which may include the loss of principal invested. This index represents the component funds at closing net asset value and includes all annual asset-based fees and expenses charged to those funds, including management and 12b-1 fees. Thomson US: Growth & Income - MF is an equal weighted index of mutual funds within the stated investment category. Funds in this category seek both capital appreciation and income primarily by investing in equities with a level or rising dividend stream. The funds represented by this index involve investment risks which may include the loss of principal invested. This index represents the component funds at closing net asset value and includes all annual asset-based fees and expenses charged to those funds, including management and 12b-1 fees. Thomson US: General Bond - Inv Grade/Mkt - CE is an equal weighted index of closed-end funds within the stated investment category. Funds in this category seek income by investing in investment grade domestic or foreign corporate debt, government debt and preferred securities. The funds and asset types represented by this index involve investment risks which may include the loss of principal invested. This index represents the component funds at closing market price and includes all annual asset-based fees and expenses charged to those funds, including management fees and other expenses. Thomson US: Balanced - Domestic - MF is an equal weighted index of mutual funds within the stated investment category. Funds in this category seek both income and capital appreciation by determining the optimal proportion of assets to place in domestic stocks, bonds, and cash. The allocation across asset classes will remain relatively stable. The funds represented by this index involve investment risks which may include the loss of principal invested. This index represents the component funds at closing net asset value and includes all annual asset-based fees and expenses charged to those funds, including management and 12b-1 fees. U.S. 30-Day Treasury Bills is an index based upon the average monthly yield of 30-day Treasury Bills. Treasury Bills are secured by the full faith and credit of the U.S. Government and offer a fixed rate of return. This illustration, including any accompanying reports and graphs, must be preceded or accompanied by a current prospectus for each security included. The prospectus contains full details on fees and expenses and should be read carefully before investing or sending money. The information included in this report is based upon data obtained from public sources believed to be reliable; however, Thomson Financial does not guarantee the completeness or accuracy thereof. Thomson Financial, an independent information services firm, has been the leading provider of information and analytical services on investment products to financial professionals for more than 55 years. Thomson Financial information and software is used by more than 140 financial institutions nationwide, representing more than 200,000 investment professionals. Page 3 of 35

4 Hypothetical Illustration American Funds Balanced A Investment Summary * - American Funds Balanced A: $251,138 initial investment on 7/31/1999; custom investments and/or withdrawals. Initial investment subject to 2.50% sales charge. Subsequent investments subject to a maximum sales charge of 5.75%. Withdrawals not subject to deferred sales charges. The effects of income and capital gains taxes are not demonstrated. Hypothetical Table Reinvest Reinvest Redemption 12b-1 Income CapGains Load Fee Fee Fee Yes Yes 2.50% None 0.25% Period End Invest Withdraw Charges Income Capital Gains Reinvest Market Value Shares NAV 7/31/ , , ,848 14, /31/ , , , ,406 16, /30/ ,165 16, /31/ , ,079 18, /30/1999 9, ,823 19, /31/ , ,710 21,487 24, ,549 20, /31/ , , ,895 32, /29/ , , ,578 32, /31/ , , ,102 36, /30/ , ,691 36, /31/ , , ,917 36, /30/ , ,772 36, /31/ ,964 36, /31/ , , , ,793 36, /30/ , ,940 36, /31/ , ,241 36, /30/ , ,191 36, /31/ , ,098 21,119 26, ,697 38, /31/ , ,989 38, /28/ , ,327 1,522 6, ,394 38, /31/ , ,812 38, /30/ ,142 38, /31/ , , , ,501 38, /30/ , ,981 38, /31/ , ,094 38, /31/ , , , ,930 38, /30/ ,199 38, /31/2001 7, ,236 39, /30/2001 4, ,340 39, /31/ , ,527 10,421 15, ,908 40, /31/ ,356 40, /28/ , , ,562 40, /31/ ,138 40, /30/ ,719 40, /31/ , , ,716 41, /30/2002 6, ,084 41, Page 4 of 35

5 American Funds Balanced A Period End Invest Withdraw Charges Income Capital Gains Reinvest Market Value Shares NAV 7/31/ ,755 41, /31/ , , ,718 41, /30/ ,187 41, /31/ ,585 41, Total 558,355 24,254 13,622 59,657 55, ,177 Ending Amount Attributable to Market Value Shares Return on the Investment Percent Principal: 501,676 35,656 Average Annual: 3.26% Income: 35,285 2,508 Cumulative: 10.99% Capital Gains: 50,623 3,598 Total Ending Amount: 587,585 41,762 Page 5 of 35

6 American Funds Balanced A Investment and Withdrawal Schedule JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC ,138 29,000 30,000 9,865-7, , ,616-1, , ,050-1,050-1,050-1,050-1, ,050-1,050-1,050-2,100-1,050-1,050-1,050 7,675 4,770-1, ,000 Investment Summary * - American Funds Balanced A: $251,138 initial investment on 7/31/1999; custom investments and/or withdrawals. Initial investment subject to 2.50% sales charge. Subsequent investments subject to a maximum sales charge of 5.75%. Withdrawals not subject to deferred sales charges. The effects of income and capital gains taxes are not demonstrated. Page 6 of 35

7 American Funds Balanced A $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 7/31/1999 1/31/2000 7/31/2000 1/31/2001 7/31/2001 1/31/2002 7/31/2002 Market Value (Ending Amount: $587,585) Net Amount Invested (Ending Market Value: $534,101) Page 7 of 35

8 Hypothetical Illustration American Funds Gr Fnd of America A Investment Summary * - American Funds Gr Fnd of America A: $251,138 initial investment on 7/31/1999; custom investments and/or withdrawals. Initial investment subject to 2.50% sales charge. Subsequent investments subject to a maximum sales charge of 5.75%. Withdrawals not subject to deferred sales charges. The effects of income and capital gains taxes are not demonstrated. Hypothetical Table Reinvest Reinvest Redemption 12b-1 Income CapGains Load Fee Fee Fee Yes Yes 2.50% None 0.25% Period End Invest Withdraw Charges Income Capital Gains Reinvest Market Value Shares NAV 7/31/ , , ,822 9, /31/ , ,613 10, /30/ ,473 10, /31/ , ,245 11, /30/1999 9, ,569 11, /31/ , ,547 38, ,343 12, /31/ , , ,917 18, /29/ ,710 18, /31/ , , ,133 20, /30/ , ,021 20, /31/ ,480 20, /30/ , ,648 19, /31/ ,719 19, /31/ , ,850 19, /30/ , ,854 19, /31/ , ,652 19, /30/ , ,313 19, /31/ , ,881 81,353 84, ,201 22, /31/ , ,595 22, /28/ , ,296 22, /31/ , ,696 22, /30/ ,997 22, /31/ , ,897 22, /30/ , ,210 22, /31/ , ,502 22, /31/ , ,438 22, /30/ ,301 22, /31/2001 7, ,043 22, /30/2001 4, ,549 23, /31/ , , , ,038 23, /31/ ,986 23, /28/ ,471 23, /31/ ,091 23, /30/ ,988 23, /31/ ,430 23, /30/2002 6, ,470 23, Page 8 of 35

9 American Funds Gr Fnd of America A Period End Invest Withdraw Charges Income Capital Gains Reinvest Market Value Shares NAV 6/30/2002 6, ,470 23, /31/ ,012 23, /31/ ,468 23, /30/ ,452 23, /31/ ,813 23, Total 558,355 24,254 12,783 4, , ,352 Ending Amount Attributable to Market Value Shares Return on the Investment Percent Principal: 368,622 19,744 Average Annual: -6.48% Income: 4 0 Cumulative: % Capital Gains: 69,187 3,706 Total Ending Amount: 437,813 23,450 Page 9 of 35

10 American Funds Gr Fnd of America A Investment and Withdrawal Schedule JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC ,138 29,000 30,000 9,865-7, , ,616-1, , ,050-1,050-1,050-1,050-1, ,050-1,050-1,050-2,100-1,050-1,050-1,050 7,675 4,770-1, ,000 Investment Summary * - American Funds Gr Fnd of America A: $251,138 initial investment on 7/31/1999; custom investments and/or withdrawals. Initial investment subject to 2.50% sales charge. Subsequent investments subject to a maximum sales charge of 5.75%. Withdrawals not subject to deferred sales charges. The effects of income and capital gains taxes are not demonstrated. Page 10 of 35

11 American Funds Gr Fnd of America A $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 7/31/1999 1/31/2000 7/31/2000 1/31/2001 7/31/2001 1/31/2002 7/31/2002 Market Value (Ending Amount: $437,813) Net Amount Invested (Ending Market Value: $534,101) Page 11 of 35

12 Hypothetical Illustration American Funds Intm Bd Fd Amer A Investment Summary * - American Funds Intm Bd Fd Amer A: $251,138 initial investment on 7/31/1999; custom investments and/or withdrawals. Initial investment subject to 2.50% sales charge. Subsequent investments subject to a maximum sales charge of 3.75%. Withdrawals not subject to deferred sales charges. The effects of income and capital gains taxes are not demonstrated. Hypothetical Table Reinvest Reinvest Redemption 12b-1 Income CapGains Load Fee Fee Fee Yes Yes 2.50% None 0.30% Period End Invest Withdraw Charges Income Capital Gains Reinvest Market Value Shares NAV 7/31/ , , ,771 18, /31/ , , , ,047 20, /30/ , , ,988 21, /31/ , , , ,885 23, /30/1999 9, , , ,973 24, /31/ , , , ,433 23, /31/ , ,208 1, , ,727 36, /29/ , , ,003 36, /31/ , ,014 2, , ,771 40, /30/ , , , ,288 41, /31/ , , ,779 41, /30/ , , , ,605 41, /31/ , , ,587 41, /31/ , , , ,992 41, /30/ , , , ,742 41, /31/ , , , ,095 42, /30/ , , , ,194 42, /31/ , , , ,053 42, /31/ , , , ,688 42, /28/ , , , ,052 42, /31/ , , , ,161 42, /30/ , , ,768 42, /31/ , , , ,578 43, /30/ , , , ,996 43, /31/ , , , ,336 43, /31/ , , , ,157 43, /30/ , , ,908 43, /31/2001 7, , , ,347 44, /30/2001 4, , , ,160 44, /31/ , , , ,753 45, /31/ , , ,343 45, /28/ , , ,653 45, /31/ , , ,639 45, /30/ , , ,297 45, /31/ , , ,877 45, /30/2002 6, , , ,348 46, Page 12 of 35

13 American Funds Intm Bd Fd Amer A Period End Invest Withdraw Charges Income Capital Gains Reinvest Market Value Shares NAV 6/30/2002 6, , , ,348 46, /31/ , , ,384 46, /31/ , , ,791 46, /30/ , , ,955 46, /31/ , , ,818 47, Total 558,355 24,254 13,669 94, ,641 Ending Amount Attributable to Market Value Shares Return on the Investment Percent Principal: 578,932 41,861 Average Annual: 6.92% Income: 72,886 5,270 Cumulative: 24.29% Capital Gains: 0 0 Total Ending Amount: 651,818 47,131 Page 13 of 35

14 American Funds Intm Bd Fd Amer A Investment and Withdrawal Schedule JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC ,138 29,000 30,000 9,865-7, , ,616-1, , ,050-1,050-1,050-1,050-1, ,050-1,050-1,050-2,100-1,050-1,050-1,050 7,675 4,770-1, ,000 Investment Summary * - American Funds Intm Bd Fd Amer A: $251,138 initial investment on 7/31/1999; custom investments and/or withdrawals. Initial investment subject to 2.50% sales charge. Subsequent investments subject to a maximum sales charge of 3.75%. Withdrawals not subject to deferred sales charges. The effects of income and capital gains taxes are not demonstrated. Page 14 of 35

15 American Funds Intm Bd Fd Amer A $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 7/31/1999 1/31/2000 7/31/2000 1/31/2001 7/31/2001 1/31/2002 7/31/2002 Market Value (Ending Amount: $651,818) Net Amount Invested (Ending Market Value: $534,101) Page 15 of 35

16 Hypothetical Illustration Thomson US: Aggressive Growth - MF Investment Summary * - Thomson US: Aggressive Growth - MF: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Hypothetical Table Buy Sell Commission Commission 0.00% 0.00% Period End Invest Withdraw Charges Value 7/31/ , ,138 8/31/ , ,002 9/30/ ,456 10/31/ , ,563 11/30/1999 9, ,513 12/31/ , ,330 1/31/ , ,460 2/29/ ,820 3/31/ , ,921 4/30/ , ,703 5/31/ ,929 6/30/ , ,331 7/31/ ,191 8/31/ , ,920 9/30/ , ,691 10/31/ , ,544 11/30/ , ,783 12/31/ , ,130 1/31/ , ,664 2/28/ , ,433 3/31/ , ,024 4/30/ ,154 5/31/ , ,708 6/30/ , ,749 7/31/ , ,691 8/31/ , ,375 9/30/ ,738 10/31/2001 7, ,208 11/30/2001 4, ,330 12/31/ , ,826 1/31/ ,867 2/28/ ,009 3/31/ ,609 4/30/ ,964 5/31/ ,859 6/30/2002 6, ,560 7/31/ ,224 Page 16 of 35

17 Thomson US: Aggressive Growth - MF Period End Invest Withdraw Charges Value 8/31/ ,749 9/30/ ,320 10/31/ ,377 Total 558,355 24,254 0 Ending Accumulation Value Value Return on the Investment Percent Total Ending Amount: 313,377 Average Annual: % Cumulative: % Page 17 of 35

18 Thomson US: Aggressive Growth - MF Investment and Withdrawal Schedule JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC ,138 29,000 30,000 9,865-7, , ,616-1, , ,050-1,050-1,050-1,050-1, ,050-1,050-1,050-2,100-1,050-1,050-1,050 7,675 4,770-1, ,000 Investment Summary * - Thomson US: Aggressive Growth - MF: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Page 18 of 35

19 Thomson US: Aggressive Growth - MF $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 7/31/1999 1/31/2000 7/31/2000 1/31/2001 7/31/2001 1/31/2002 7/31/2002 Market Value (Ending Amount: $313,377) Net Amount Invested (Ending Market Value: $534,101) Page 19 of 35

20 Hypothetical Illustration Thomson US: Balanced - Domestic - MF Investment Summary * - Thomson US: Balanced - Domestic - MF: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Hypothetical Table Buy Sell Commission Commission 0.00% 0.00% Period End Invest Withdraw Charges Value 7/31/ , ,138 8/31/ , ,007 9/30/ ,348 10/31/ , ,002 11/30/1999 9, ,642 12/31/ , ,425 1/31/ , ,351 2/29/ ,252 3/31/ , ,972 4/30/ , ,304 5/31/ ,166 6/30/ , ,075 7/31/ ,558 8/31/ , ,580 9/30/ , ,062 10/31/ , ,208 11/30/ , ,121 12/31/ , ,761 1/31/ , ,361 2/28/ , ,524 3/31/ , ,768 4/30/ ,858 5/31/ , ,042 6/30/ , ,456 7/31/ , ,941 8/31/ , ,118 9/30/ ,570 10/31/2001 7, ,699 11/30/2001 4, ,082 12/31/ , ,026 1/31/ ,038 2/28/ ,799 3/31/ ,607 4/30/ ,881 5/31/ ,007 6/30/2002 6, ,784 7/31/ ,231 Page 20 of 35

21 Thomson US: Balanced - Domestic - MF Period End Invest Withdraw Charges Value 8/31/ ,671 9/30/ ,303 10/31/ ,642 Total 558,355 24,254 0 Ending Accumulation Value Value Return on the Investment Percent Total Ending Amount: 475,642 Average Annual: -3.83% Cumulative: % Page 21 of 35

22 Thomson US: Balanced - Domestic - MF Investment and Withdrawal Schedule JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC ,138 29,000 30,000 9,865-7, , ,616-1, , ,050-1,050-1,050-1,050-1, ,050-1,050-1,050-2,100-1,050-1,050-1,050 7,675 4,770-1, ,000 Investment Summary * - Thomson US: Balanced - Domestic - MF: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Page 22 of 35

23 Thomson US: Balanced - Domestic - MF $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 7/31/1999 1/31/2000 7/31/2000 1/31/2001 7/31/2001 1/31/2002 7/31/2002 Market Value (Ending Amount: $475,642) Net Amount Invested (Ending Market Value: $534,101) Page 23 of 35

24 Hypothetical Illustration Thomson US: Genl Bd - Inv Gr/Mkt - CE Investment Summary * - Thomson US: Genl Bd - Inv Gr/Mkt - CE: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Hypothetical Table Buy Sell Commission Commission 0.00% 0.00% Period End Invest Withdraw Charges Value 7/31/ , ,138 8/31/ , ,606 9/30/ ,981 10/31/ , ,007 11/30/1999 9, ,530 12/31/ , ,904 1/31/ , ,515 2/29/ ,666 3/31/ , ,780 4/30/ , ,957 5/31/ ,632 6/30/ , ,012 7/31/ ,522 8/31/ , ,900 9/30/ , ,297 10/31/ , ,465 11/30/ , ,431 12/31/ , ,090 1/31/ , ,783 2/28/ , ,778 3/31/ , ,943 4/30/ ,182 5/31/ , ,961 6/30/ , ,386 7/31/ , ,157 8/31/ , ,067 9/30/ ,388 10/31/2001 7, ,244 11/30/2001 4, ,716 12/31/ , ,762 1/31/ ,432 2/28/ ,198 3/31/ ,582 4/30/ ,120 5/31/ ,352 6/30/2002 6, ,522 7/31/ ,491 Page 24 of 35

25 Thomson US: Genl Bd - Inv Gr/Mkt - CE Period End Invest Withdraw Charges Value 8/31/ ,967 9/30/ ,060 10/31/ ,589 Total 558,355 24,254 0 Ending Accumulation Value Value Return on the Investment Percent Total Ending Amount: 745,589 Average Annual: 11.84% Cumulative: 43.86% Page 25 of 35

26 Thomson US: Genl Bd - Inv Gr/Mkt - CE Investment and Withdrawal Schedule JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC ,138 29,000 30,000 9,865-7, , ,616-1, , ,050-1,050-1,050-1,050-1, ,050-1,050-1,050-2,100-1,050-1,050-1,050 7,675 4,770-1, ,000 Investment Summary * - Thomson US: Genl Bd - Inv Gr/Mkt - CE: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Page 26 of 35

27 Thomson US: Genl Bd - Inv Gr/Mkt - CE $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 7/31/1999 1/31/2000 7/31/2000 1/31/2001 7/31/2001 1/31/2002 7/31/2002 Market Value (Ending Amount: $745,589) Net Amount Invested (Ending Market Value: $534,101) Page 27 of 35

28 Hypothetical Illustration Thomson US: Growth & Income - MF Investment Summary * - Thomson US: Growth & Income - MF: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Hypothetical Table Buy Sell Commission Commission 0.00% 0.00% Period End Invest Withdraw Charges Value 7/31/ , ,138 8/31/ , ,369 9/30/ ,088 10/31/ , ,521 11/30/1999 9, ,137 12/31/ , ,856 1/31/ , ,398 2/29/ ,591 3/31/ , ,554 4/30/ , ,487 5/31/ ,885 6/30/ , ,947 7/31/ ,089 8/31/ , ,561 9/30/ , ,213 10/31/ , ,073 11/30/ , ,663 12/31/ , ,980 1/31/ , ,800 2/28/ , ,098 3/31/ , ,838 4/30/ ,160 5/31/ , ,826 6/30/ , ,956 7/31/ , ,115 8/31/ , ,702 9/30/ ,720 10/31/2001 7, ,845 11/30/2001 4, ,042 12/31/ , ,464 1/31/ ,124 2/28/ ,933 3/31/ ,621 4/30/ ,663 5/31/ ,521 6/30/2002 6, ,547 7/31/ ,969 Page 28 of 35

29 Thomson US: Growth & Income - MF Period End Invest Withdraw Charges Value 8/31/ ,292 9/30/ ,218 10/31/ ,792 Total 558,355 24,254 0 Ending Accumulation Value Value Return on the Investment Percent Total Ending Amount: 411,792 Average Annual: -8.40% Cumulative: % Page 29 of 35

30 Thomson US: Growth & Income - MF Investment and Withdrawal Schedule JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC ,138 29,000 30,000 9,865-7, , ,616-1, , ,050-1,050-1,050-1,050-1, ,050-1,050-1,050-2,100-1,050-1,050-1,050 7,675 4,770-1, ,000 Investment Summary * - Thomson US: Growth & Income - MF: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Page 30 of 35

31 Thomson US: Growth & Income - MF $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 7/31/1999 1/31/2000 7/31/2000 1/31/2001 7/31/2001 1/31/2002 7/31/2002 Market Value (Ending Amount: $411,792) Net Amount Invested (Ending Market Value: $534,101) Page 31 of 35

32 Hypothetical Illustration U.S. 30-Day Treasury Bills Investment Summary * - U.S. 30-Day Treasury Bills: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Hypothetical Table Buy Sell Commission Commission 0.00% 0.00% Period End Invest Withdraw Charges Value 7/31/ , ,138 8/31/ , ,980 9/30/ ,891 10/31/ , ,794 11/30/1999 9, ,757 12/31/ , ,676 1/31/ , ,725 2/29/ ,635 3/31/ , ,330 4/30/ , ,618 5/31/ ,658 6/30/ , ,828 7/31/ ,789 8/31/ , ,433 9/30/ , ,874 10/31/ , ,132 11/30/ , ,004 12/31/ , ,898 1/31/ , ,071 2/28/ , ,246 3/31/ , ,319 4/30/ ,165 5/31/ , ,701 6/30/ , ,165 7/31/ , ,686 8/31/ , ,153 9/30/ ,502 10/31/2001 7, ,248 11/30/2001 4, ,876 12/31/ , ,635 1/31/ ,444 2/28/ ,254 3/31/ ,064 4/30/ ,877 5/31/ ,690 6/30/2002 6, ,504 7/31/ ,328 Page 32 of 35

33 U.S. 30-Day Treasury Bills Period End Invest Withdraw Charges Value 8/31/ ,153 9/30/ ,920 10/31/ ,629 Total 558,355 24,254 0 Ending Accumulation Value Value Return on the Investment Percent Total Ending Amount: 591,629 Average Annual: 3.50% Cumulative: 11.83% Page 33 of 35

34 U.S. 30-Day Treasury Bills Investment and Withdrawal Schedule JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC ,138 29,000 30,000 9,865-7, , ,616-1, , ,050-1,050-1,050-1,050-1, ,050-1,050-1,050-2,100-1,050-1,050-1,050 7,675 4,770-1, ,000 Investment Summary * - U.S. 30-Day Treasury Bills: $251,138 initial amount on 7/31/1999; custom additions and/or subtractions. The effects of income and capital gains taxes are not demonstrated. Page 34 of 35

35 U.S. 30-Day Treasury Bills $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 7/31/1999 1/31/2000 7/31/2000 1/31/2001 7/31/2001 1/31/2002 7/31/2002 Market Value (Ending Amount: $591,629) Net Amount Invested (Ending Market Value: $534,101) Page 35 of 35