Performance of Other Managers
June 30, 2004
Qtr YTD 1Yr 2Yr 3Yr 5Yr
CORE EQUITY
Eagle Asset Management Inc. - Conservative Large Cap Equity 3.78 3.87 20.07 12.45 4.47 4.69
ICC Capital Management, Inc. - Core Value 1.43 3.69 22.84 9.16 2.63 2.59
INVESCO - Enhanced Index
RhumbLine Advisers - Russell 1000 Index Fund 1.38 3.30 19.42 9.92 -0.25 -1.59
RhumbLine Advisers - S&P 500 Index Fund 1.68 3.40 18.95 9.30 -0.52 -1.97
State Street Global Advisors - Large Cap Core Matrix 1.14 3.22 17.16 8.12 1.07 -1.24
Weiss, Peck & Greer Investments - Large Cap Disciplined Equity 1.16 3.56 19.77 9.59 0.65 -0.58
Russell 1000 1.40 3.33 19.48 9.83 -0.32 -1.65
S&P 500 1.72 3.44 19.11 9.28 -0.70 -2.20
Wilshire 5000 Value Wtd. Total Perf. 1.28 3.93 21.17 10.79 0.77 -1.04
GROWTH EQUITY
Atlanta Capital Management Company - High Quality Growth Plus 2.23 1.10 16.72 5.96 -2.48 -1.78
Colony Capital Management - Domestic Equity 1.97 4.90 21.31 10.26 -0.74 -1.80
Davis, Hamilton, Jackson & Associates, L. P. - Quality Growth 1.24 0.58 12.67 5.27 -2.61 -2.42
Deutsche Asset Management - Large Cap Core Growth Equity 1.59 3.63 17.61 7.15 -0.66 -0.35
Eagle Asset Management Inc. - Institutional Growth -2.54 -3.28 9.65 4.30 -5.41 -0.59
Freedom Capital Management, LLC - Core Growth Equity 0.34 -0.41 13.42 5.46 -6.73 -3.93
Freedom Capital Management, LLC - Pure Growth Equity 0.92 -1.30 12.00 4.42 -6.69 -6.12
GLOBALT Investments - Diversified Larger Cap Growth 2.07 3.72 20.20 8.15 -4.19 -4.21
ICC Capital Management, Inc. - Large Cap Growth Equity -0.17 3.97 23.64 17.98 -4.35
ING Investment Management Americas - ING Large Cap Growth S & P 500 -0.23 2.54 17.99 7.29 -2.87 -1.74
Montag & Caldwell, Inc. - Large Cap Growth 2.51 4.57 14.08 5.49 -1.74 -3.14
Northern Trust Global Investment Services - Northern Trust Large Cap Growth 6.05 5.44 18.45 4.09 -2.15 -0.33
PEA Capital LLC - Large Cap Growth 0.54 5.04 21.02 6.55 -4.41 -3.93
RhumbLine Advisers - Russell 1000 Growth Index Fund 1.97 2.75 17.86 10.22 -3.57
Roxbury Capital Management, LLC - Large Cap - Gross
Sawgrass Asset Management LLC - Large Cap Growth Equity 2.37 2.94 17.45 7.42 1.52 -0.74
State Street Global Advisors - Large Cap Growth 1.28 2.32 16.70 9.30 -3.95 -7.56
Russell 1000 Growth 1.94 2.74 17.87 10.15 -3.74 -6.48
S&P 500/Barra Growth 2.69 2.72 16.03 8.96 -1.09 -4.97
Inverness Equities           2.39 3.39 19.16 9.09 2.83 0.19
DHJ Equities           1.66 1.05 13.87 5.84 -1.84 n/a
Eagle Equities           4.47 8.49 29.95 n/a n/a n/a
Buckhead Equities           -0.68 3.24 n/a n/a n/a n/a
ASSET CONSULTING GROUP Page 20
a division of Gabriel, Roeder, Smith, & Co.
Performance of Other Managers
June 30, 2004
Qtr YTD 1Yr 2Yr 3Yr 5Yr
VALUE EQUITY
Buckhead Capital Management - Value Equity - Low P/E -0.63 3.44 23.17 9.97 6.36 6.23
Crawford Investment Counsel - Value Equity 2.33 7.00 19.84 8.46 5.44 4.47
DePrince, Race and Zollo Inc. - Large Cap Value Equity 2.94 4.47 28.37 13.19 10.28 8.31
Eagle Asset Management Inc. - Value  - Institutional 2.61 5.34 20.59 7.72 1.70 1.23
Freedom Capital Management, LLC - Lg Cap Value-Core Value Composite 3.29 6.01 24.80 9.11 1.57 2.19
HGK Asset Management, Inc. - Large Cap Value Equity 2.15 6.59 27.22 10.42 4.21 2.80
ICC Capital Management, Inc. - Core Value 1.43 3.69 22.84 9.16 2.63 2.59
INVESCO - Large Cap Value Equity
Oppenheimer Capital - All Cap Equity 3.01 6.28 25.03 13.48 4.35 4.82
RhumbLine Advisers - Russell 1000 Value Index Fund 0.83 3.86 20.91 9.46 2.96 2.07
State Street Global Advisors - Large Cap Value -0.74 3.37 18.50 8.72 4.21 3.01
Westwood Management Corporation - REIT Portfolio -5.63 4.96 25.79 14.94 15.77 14.78
Russell 1000 Value 0.88 3.94 21.13 9.50 2.96 1.87
S&P 500/Barra Value 0.80 4.17 22.26 9.55 -0.57 0.13
MID-CAP EQUITY
GLOBALT Investments - Mid Cap Growth 1.21 7.58 29.15 11.84 0.73 3.18
HGK Asset Management, Inc. - Mid Cap Value Equity 0.09 3.38 29.00 15.05 13.76 9.95
RhumbLine Advisers - S&P 400 Index Fund 0.97 6.05 27.76 12.74 6.65 9.10
Roxbury Capital Management, LLC - Small to Medium Capitalization Equity
State Street Global Advisors - Mid-Cap Strategy 0.72 6.91 27.43 16.19 8.62 9.48
Russell Midcap 1.45 6.67 29.39 15.24 6.43 6.51
S&P Midcap 400 0.97 6.09 27.98 12.73 6.58 9.05
                         
Inverness Equities           2.39 3.39 19.16 9.09 2.83 0.19
DHJ Equities           1.66 1.05 13.87 5.84 -1.84 n/a
Eagle Equities           4.47 8.49 29.95 n/a n/a n/a
Buckhead Equities           -0.68 3.24 n/a n/a n/a n/a
ASSET CONSULTING GROUP
a division of Gabriel, Roeder, Smith, & Co. Page 21
Performance of Other Managers
June 30, 2004
Qtr YTD 1Yr 2Yr 3Yr 5Yr
SMALL CAP EQUITY
Atlanta Capital Management Company - High Quality Small Cap Value 2.65 7.20 23.77 11.07 10.07 10.63
Eagle Asset Management Inc. - Small Cap Core - Institutional 4.49 8.36 29.79 12.51 9.10 18.46
Eagle Asset Management Inc. - Small Cap Growth - Institutional 0.93 8.23 33.72 14.62 6.94 4.11
Sawgrass Asset Management LLC - Small Cap Growth Equity 3.45 5.30 27.34 6.03 -4.76 4.16
State Street Global Advisors - Small Cap Growth Opportunities 0.50 4.10 33.62 14.59 -0.45 6.84
Wellington Management Company, LLP - Small Cap 2000 (Closed) 1.64 10.62 36.42 16.79 8.16 12.24
Russell 2000 0.47 6.76 33.37 14.53 6.24 6.63
S&P SmallCap 600 3.60 10.05 35.25 14.20 9.35 10.70
INTERNATIONAL EQUITY
ICC Capital Management, Inc. - International ADR Equity 3.00 8.91 36.94 14.27 5.49 1.67
Oppenheimer Capital - International Value -1.39 1.26 25.95 13.22 7.48 5.39
State Street Global Advisors - International Index (EAFE) -0.85 3.46 30.91 10.79 3.62 -0.06
MSCI EAFE 0.44 4.86 32.85 11.72 4.25 0.40
                         
Inverness Equities           2.39 3.39 19.16 9.09 2.83 0.19
DHJ Equities           1.66 1.05 13.87 5.84 -1.84 n/a
Eagle Equities           4.47 8.49 29.95 n/a n/a n/a
Buckhead Equities           -0.68 3.24 n/a n/a n/a n/a
ASSET CONSULTING GROUP
a division of Gabriel, Roeder, Smith, & Co. Page 22
Performance of Other Managers
BOND RETURNS
Qtr YTD 1Yr 2Yr 3Yr 5Yr
CORE FIXED INCOME
Atlanta Capital Management Company - High Quality Broad Market -1.70 0.44 0.19 4.36 5.87 6.66
Eagle Asset Management Inc. - Core Fixed Income - Institutional -1.86 0.42 0.74 4.88 5.97 6.71
Freedom Capital Management, LLC - Core Fixed Income-Aggregate -2.37 0.10 0.10 4.60 5.48 6.48
Freedom Capital Management, LLC - Core Fixed Income-Gov't/Credit -3.16 -0.20 -0.90 4.95 5.55 6.39
HGK Asset Management, Inc. - Domestic Fixed Income -2.74 0.25 0.06 6.30 6.36 6.42
ICC Capital Management, Inc. - Core Fixed Income -1.30 0.31 0.26 4.86 6.30 6.81
INVESCO - Core Fixed Income
Oppenheimer Capital - Fixed Income -2.38 -0.11 0.65 5.32 6.34 6.94
Rockwood Capital Advisors - Strategic Duration -1.44 -0.06 0.50 4.08 5.01 6.13
Sawgrass Asset Management LLC - Core Fixed Income -2.14 0.29 0.54 5.38 6.66 7.11
State Street Global Advisors - Bond Market Fund -2.53 0.19 0.44 5.45 6.44 6.94
Westwood Management Corporation - Fixed Income -2.40 0.34 -0.30 5.08 6.30 6.91
Lehman Aggregate Bond -2.44 0.15 0.33 5.24 6.36 6.95
Lehman Gov/Credit Bond -3.17 -0.19 -0.71 5.99 6.73 7.10
INTERMEDIATE FIXED INCOME
Colony Capital Management - Domestic Fixed -1.43 -0.36 -0.24 3.68 5.11 6.03
Davis, Hamilton, Jackson & Associates, L. P. - Intermediate Fixed Income -2.19 0.13 -0.21 5.20 6.18 6.75
Eagle Asset Management Inc. - Intermediate Conservative-Institutional -1.61 0.26 0.58 4.46 5.73 6.60
Sawgrass Asset Management LLC - Intermediate Fixed Income -2.12 -0.05 -0.05 4.58 5.97 6.58
State Street Global Advisors - Intermediate Bond Fund -2.53 -0.04 0.15 5.26 6.10 6.78
Lehman Gov/Credit-Intermediate -2.52 -0.10 -0.06 5.24 6.21 6.75
Your Fixed Income           -2.18 0.19 1.04 6.43 7.19 7.32
 
ASSET CONSULTING GROUP
a division of Gabriel, Roeder, Smith, & Co. Page 23