Fully invested stock portfolio Small, mid, and large cap stocks Benchmark: Russell 3000

The All-Cap Equity Account has a target range of 90%-98% in equities, with a mix of small, mid, and large capitilization stocks.  We weight the stock exposure toward the most advantageous market capitilizations based on our research.

Sector analysis in an important part of our portfolio management process.  Changes in sector weightings are made based on our analysis.

We believe that having the maximum flexibility to follow our research is the key to adding value to our clients' accounts.

As of December 31, 2007

	Small Cap 16% Mid Cap 17% Large Cap 67%	Short Term Liquidity 7% Common Stocks 93%