December 31, 2006 Asset Allocation ($ thousands)

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

		Asset Allocation
Sector		U.S.	Int'l	Total	%
Equity	Alliance Capital	$87,252	$8218	$95,470	10.9%
	AllianceBernstein	69,517	6,576	76,093	8.7%
	American Century	70,328	3,536	73,864	8.4%
	Artisan Partners	45,262	2,672	47,934	5.5%
	EARNEST Partners	71,422	503	71,925	8.2%
	TCW Asset Mgmt	35,285	2,577	37,862	4.3%
	Capital Guardian- Int'l	0	118,956	118,956	13.5%
	JP Morgan	0	59,548	59,548	6.8%
	Cap Guardian- Emerg	0	31,658	31,658	3.6%
	Templeton Inv- Emerg	0	27,604	27,604	3.1%
	Total	$379,066	$261,848	$640,914
	%	43.1%	29.8%	72.9%
	Target Range	37.5 - 47.5%	15 - 35%	52.5 - 82.5%
Alternatives: Abs Return	Bridgewater			6,847	0.8%
	Ramius Capital			8,606	1.0%
	Total			$15,453
	%			1.8%
	Target Range			0 - 5%
Alternatives:  Private Eq	Cerberus Series Four			1,000	0.1%
	JF Lehman Equity II			357	0.0%
	Quadrangle Cap II			643	0.1%
	RiverVest II			90	0.0%
	Vectis Life Sci I			726	0.1%
	Vestar Capital V			918	0.1%
	Welsh Carson X			958	0.1%
	Total			$4,692
	%			0.5%
	Target Range			0 - 5%
Real Estate	RREEF America II			27,415	3.1%
	TA Realty Fund IV			483	0.1%
	TA Realty Fund V			10,618	1.2%
	Total			$38,516
	%			4.4%
	Target Range			0 - 10%
Fixed Income	Capital Guardian			91,133	10.4%
	Pacific Investment			88,605	10.1%
	Total			$179,738
	%			20.4%
	Target Range			17.5 - 27.5%
	Fund			$879,313	100.0%
	Gifts- to be allocated			20,099
	Total Fund			$899,412

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 gift funds to be allocated.

Reviewed 2011-03-22.