Long term returns for key U.S. asset classes Large Company Stocks Small Company Stocks Long Term CorporateBonds

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Long Term Returns Asset Class Average Return: U.S. Small Company Stocks 12.7% U.S. Large Company Stocks10.4% U.S. Long Term Corporate Bonds 5.9%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Value of $1000 invested Long Term Value of $1000 after Return 5 years 10 years 20 years U.S. Small Company Stocks 12.7% $1818 $3306 $10926 U.S. Large Company Stocks 10.4% $1640 $2690 $ 7234 U.S. Large Company Bonds 5.9% $1332 $1774 $ 3147

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Growth in large co. stocks vs large company bonds Long Term Growth in $1000 after Return 5 years 10 years 20 years U.S. Large Company Stocks 10.4% $ 640 $1690 $ 6234 U.S. Large Company Bonds 5.9% $ 332 $ 774 $ 2147 Difference in growth 1.7x 1.9x 2.2x 2.9x

U.S. Large Company Stocks Returns from 1926 – 2006 Morningstar Stocks, Bonds, Bills and Inflation Yearbook

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Large Company Stocks Time period: Returns for 1 year Best return: 54% Worst return:-43% Gap between best and worst returns: 97%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Large Company Stocks Time period: Average annual returns for 3 years Best return: 31% Worst return:-27% Gap between best and worst returns: 58%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Large Company Stocks Time period: 1930 – 2006 Average annual returns for 5 years Best return: 29% Worst return:-13% Gap between best and worst returns: 42%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Large Company Stocks Time period: Average annual returns for 10 years Best return:20% Worst return: -1% Gap between best and worst returns:21%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Large Company Stocks Time period: Average annual returns for 15 years Best return:19% Worst return: 1% Gap between best and worst returns:18%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Large Company Stocks Time period: Average annual returns for 20 years Best return:18% Worst return: 3% Gap between best and worst returns:15%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook 10 year periods when U.S. Bonds beat U.S. Stocks (1936 – 2006) 10 year periodReturn on U.S. Return on U.S. large ending corporate bonds company stocks Difference % 5.9%1.2% % 0.0%6.5% % - 0.9% 7.8% % - 0.1%7.0% % 1.8%4.7% % 6.4%0.6% % 1.2%0.9% % 5.9%0.3% % 15.3%1.0%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Average returns on large company stocks (1926 – 2006) Time period 1 Year 5 Years 10 Years % ReturnGains Losses Gains Losses Gains Losses Under 5% – 9% – 14% – 19% – 24% Over 25% Total % of periods with positive return 70%87%97%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Average returns on Large Company Stocks (1926 – 2006) 1 Years 5 Years 10 Years Gains Losses Gains Losses Gains Losses Average Gain / Loss23%(12%)13% (6%)12% (1%) Best / worst return54%(43%) 29% (12%)20% (1%) Best / worst period From To Value of $1000 at end of period $1539$567 $3511 $514 $6223 $915

U.S. Small Company Stocks Returns from 1926 – 2006 Morningstar Stocks, Bonds, Bills and Inflation Yearbook

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Small Company Stocks Time period: Returns for 1 year *143 Best return:143% Worst return:- 58% Gap between best and worst returns:201%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Small Company Stocks Time period: Average annual returns for 3 years Best return: 71% Worst return:-47% Gap between best and worst returns:118%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Small Company Stocks Time period: Average annual returns for 5 years Best return: 46% Worst return:-28% Gap between best and worst returns: 74%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Small Company Stocks Time period: Average annual returns for 10 years Best return:30% Worst return: -6% Gap between best and worst returns:36%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Small Company Stocks Time period: Average annual returns for 15 years Best return:23% Worst return: -1% Gap between best and worst returns:24%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Small Company Stocks Time period: Average annual returns for 20 years Best return:20% Worst return: 6% Gap between best and worst returns:14%

U.S. Long Term Corporate Bonds Returns from 1926 – 2006 Morningstar Stocks, Bonds, Bills and Inflation Yearbook

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Long Term Corporate Bonds Time period: 1926 – 2006 Returns for 1 year Best return:43% Worst return:- 8% Gap between best and worst returns:51%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Long Term Corporate Bonds Time period: Average annual return for 3 years Best return:22% Worst return:- 4% Gap between best and worst returns:26%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Long Term Corporate Bonds Time period: Average annual returns for 5 years Best return:23% Worst return:-2% Gap between best and worst returns:25%

Based on data from Morningstar Stocks, Bonds, Bills and Inflation Yearbook Asset class: U.S. Long Term Corporate Bonds Time period: Average annual returns for 10 years Best return:16% Worst return: 1% Gap between best and worst returns:15%