September 30, 2007 Asset Allocation ($ thousands)

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

		Asset Allocation
Sector		U.S.	Int'l	Total	%
Equity	Alliance Capital	$80,772	$3,410	$84,182	8.7%
	AllianceBernstein	41,444	5,565	47,009	4.9%
	American Century	41,378	2,584	43,962	4.6%
	Artisan Partners	47,819	1,352	49,171	5.1%
	EARNEST Partners	72,886	0	72,886	7.5%
	GAMCO Investors	56,417	1,453	57,870	6.0%
	TCW Asset Mgmt	17,520	1,359	18,879	2.0%
	AllianceBernstein- Int'l	0	51,940	51,940	5.4%
	Capital Guardian- Int'l	0	85,153	85,153	8.8%
	JP Morgan	0	49,776	49,776	5.2%
	Cap Guardian- Emerg	0	42,497	42,497	4.4%
	Templeton Inv- Emerg	0	35,304	35,304	3.7%
	Total	$358,236	$280,393	$638,629
	%	37.1%	29.0%	66.1%
	Target Range	27 - 37%	16.5 - 36.5%	43.5 - 73.5%
Alternatives: Abs Return	Bridgewater			11,078	1.1%
	Ramius Capital			13,286	1.4%
	Total			$24,364
	%			2.5%
	Target Range			0 - 10%
Alternatives:  Private Eq	Cerberus Series Four			4,435	0.5%
	Crosslink Crossover V			5,000	0.5%
	JF Lehman Equity II			808	0.1%
	MidOcean III-A			860	0.1%
	Oakwood V			251	0.0%
	Quadrangle Cap II			1,107	0.1%
	RiverVest II			202	0.0%
	Thompson Street II			129	0.0%
	Vectis Life Sci I			961	0.1%
	Vestar Capital V			1,319	0.1%
	Welsh Carson X			2,021	0.2%
	Total			$17,093
	%			1.8%
	Target Range			0 - 10%
Real Estate	RREEF America II			28,469	2.9%
	TA Realty Fund V			10,228	1.1%
	TA Realty Fund VIII			12,500	1.3%
	Total			$51,197
	%			5.3%
	Target Range			2.5 - 12.5%
Fixed Income	Capital Guardian			87,842	9.1%
	PIMCO Global F.I.			82,469	8.5%
	Total			$170,311
	%			17.6%
	Target Range			12 - 22%
TIPS	NISA TIPS			32,553	3.4%
	PIMCO TIPS			31,988	3.3%
	Total			$64,541
	%			6.7%
	Target Range			2 - 12%
	Fund			$966,135	100.0%
	Gifts - to be allocated			12, 118
	Total Fund			$978,253

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.