Endowment Funds - Portfolio Annualized Returns For periods ended March 31, 2004

	1 year ended March 2004	3 years ended March 2004	5 years ended March 2004	10 years ended March 2004
Balanced Pool	32.0%	6.5%	4.5%	10.3%
Hybrid Index	33.9	5.4	3.1	8.9

Domestic Equity (total)	38.1	3.3	1.5	12.1
Domestic Equity Benchmark	38.2	1.9	0.1	11.5
Alliance Capital	23.7	(3.0)	(2.9)	14.1
AllianceBernstein	40.4	8.1	6.3	N/A
Artisan Partners *	N/A	N/A	N/A	N/A
Fidelity Management	31.8	1.3	(1.0)	N/A
TCW Asset- (small, mid cap)	64.8	N/A	N/A	N/A

International Equity (total)	56.3	3.8	2.9	7.8
International Equity Benchmark	58.1	3.8	0.8	4.9
Capital Guardian	56.1	5.0	5.8	9.9
TT International	56.8	1.4	N/A	N/A

Emerging Markets Equity (total)	74.4	17.7	9.3	N/A
Emerging Markets Benchmark	85.4	21.2	11.8	2.5
Capital Guardian	76.1	15.8	9.3	N/A
Templeton Investment	72.7	19.6	9.3	N/A

Alternative Investments (total)	9.7	N/A	N/A	N/A
Alternative Investments Benchmark	6.2	7.2	8.7	N/A
DKR Capital	9.3	N/A	N/A	N/A
Ramius Capital	10.0	N/A	N/A	N/A

Real Estate (total)	6.5	8.6	8.6	N/A
Real Estate Benchmark	9.0	7.7	9.3	10.1
RREEF America II	9.3	9.2	8.3	N/A
TA Realty Associates Fund III	(19.8)	0.2	4.4	N/A
TA Realty Associates Fund IV	2.4	7.8	9.2	N/A
TA Realty Associates Fund V	8.4	8.8	N/A	N/A

Global Fixed Income (total)	8.1	8.9	6.7	N/A
Global Fixed Income Benchmark	7.2	8.0	6.0	7.1
Capital Guardian	12.9	11.9	6.9	N/A
Pacific Investment	3.1	5.8	6.4	N/A

Fixed Income Pool	4.7	7.6	7.3 ^	N/A
University of Missouri	4.7	7.6	N/A	N/A
Fixed Income Pool Benchmark	6.1	8.0	7.6	7.6
Consumer Price Index	1.7	2.1	2.6	2.4

* Manager hired fourth quarter 2003, replacing PIMCO Equity Advisors. ^ Includes returns of partial periods for Boatmen's.

Reviewed 2011-02-22.