December 31, 2002 Asset Allocation ($ thousands)

Endowment Fund (Balanced Pool) ^{(1) (2)}

		Asset Allocation
Sector		U.S.	Int'l	Total	%
Equity	Alliance Capital	$56,544	$1,266	$57,810	11.4%
	AllianceBernstein	60,827	0	60,827	12%
	Fidelity Management	60,313	682	60,995	12.1%
	PIMCO Eq- Sm Cap	17,904	82	17,986	3.6%
	TCW Asset Mgmt	17,976	0	17,976	3.6%
	Capital Guardian- Int'l	0	62.858	62,858	12.4%
	TT International	0	34,058	34,058	6.7%
	Cap Guardian- Emerg	0	12,166	12,166	2.4%
	Templeton Inv- Emerg	0	12,201	12.201	2.4%
	Total	$213,564	$123,313	$336,877
	%	42.2%	24.4%	66.6%
	Target Range	37.5 - 47.5%	15 - 35%	52.5 - 82.5%
Alternatives	DKR Capital			6,400	1.3%
	Ramius Capital			6,400	1.3%
	Total			$12,800
	%			2.5%
	Target Range			0 - 10%
Real Estate	RREEF America II			20,042	4%
	TA Realty Fund III			5,161	1%
	TA Realty Fund IV			2,725	0.5%
	TA Realty Fund V			14,551	2.9%
	Total			$42,479
	%			8.4%
	Target Range			0 - 10%
Fixed	Capital Guardian			57,433	11.4%
Income	Pacific Investment			56,165	11.1%
	Total			$113,598
	%			22.5%
	Target Range			17.5 - 27.5%
	Fund			$505,754	100%
	Gifts - to be allocated			2,343
	Total Fund			$508,097

Notes:

1. All amounts are U.S. Dollars; all amounts are market value.
2. Percentages shown are on the base of invested assets; i.e., they do not include the funds for the annual distribution.



Reviewed 2011-03-22.