Performance of Other Managers
December 31, 2003
Qtr YTD 1Yr 2Yr 3Yr 5Yr
CORE EQUITY
Eagle Asset Management Inc. - Large Cap Core - Institutional 12.39 30.90 30.90 2.46 1.38 5.89
INVESCO Institutional - Enhanced Index
RhumbLine Advisers - Russell 1000 Index Fund
RhumbLine Advisers - S&P 500 Index Fund
State Street Global Advisors - Large Cap Core Matrix 11.22 27.01 27.01 2.57 -1.00 -0.37
Weiss, Peck & Greer, L.L.C. - Large Cap Disciplined Equity 12.03 30.47 30.47 2.16 -1.08 0.78
Russell 1000 12.26 29.89 29.89 0.88 -3.78 -0.13
S&P 500 12.18 28.69 28.69 0.12 -4.05 -0.57
Wilshire 5000 Value Weighted Total Performance 12.43 31.65 31.65 2.08 -2.47 0.43
GROWTH EQUITY
Aeltus Investment Management, Inc. - Large Cap Growth S & P 500 10.71 29.32 29.32 0.22 -7.29 1.40
Atlanta Capital Management Company - High Quality Growth Plus
Colony Capital Management - Domestic Equity 11.27 28.24 28.24 1.72 -6.75 -2.35
Davis, Hamilton, Jackson & Associates, L. P. - Quality Growth 8.85 21.64 21.64 -1.26 -6.17 -0.41
Deutsche Asset Management - Large Cap Core Growth Equity 9.33 27.32 27.32 -0.16 -5.30 1.64
Eagle Asset Management Inc. - Institutional Growth 11.05 28.52 28.52 -3.29 -7.71 2.98
Freedom Capital Management, LLC - Core Growth Equity 10.89 27.32 27.32 -5.76 -8.54 -1.75
Freedom Capital Management, LLC - Pure Growth Equity 10.47 25.43 25.43 -6.66 -9.17 -3.69
GLOBALT, Inc. - Diversified Larger Cap Growth 9.73 30.96 30.96 -3.19 -8.48 -3.39
ICC Capital Management, Inc. - Active Core Equity 18.37 39.18 39.18 1.58 0.17 6.94
Montag & Caldwell, Inc. - Large Cap Growth 9.41 19.09 19.09 -4.50 -7.41 -2.07
Northern Trust Global Investment Services - Large Cap Growth Strategy
PIMCO Equity Advisors - Large Cap Growth 11.45 26.47 26.47 -4.98 -11.95 -3.03
RhumbLine Advisers - Russell 1000 Growth Index Fund
Roxbury Capital Management, LLC - Large Cap - Gross
Sawgrass Asset Management LLC - Large Cap Equity 10.96 27.47 27.47 1.14 0.98 0.94
State Street Global Advisors - Large Cap Growth 8.78 30.44 30.44 -2.97 -9.23 -5.87
Russell 1000 Growth 10.41 29.75 29.75 -3.27 -9.36 -5.11
S&P 500/Barra Growth 9.93 25.66 25.66 -2.01 -5.72 -3.49
Total Equities           12.20% 29.32% 29.32% 1.00% -3.66% -1.94%
ASSET CONSULTING GROUP
a division of Gabriel, Roeder, Smith, & Co. Page 19
Performance of Other Managers
December 31, 2003
Qtr YTD 1Yr 2Yr 3Yr 5Yr
VALUE EQUITY
Buckhead Capital Management - Value Equity - Low P/E 14.65 34.00 34.00 6.21 6.88 7.80
Crawford Investment Counsel - Value Equity 8.59 21.17 21.17 2.95 2.49 3.88
DePrince, Race and Zollo Inc. - Large Cap Value Equity 16.58 33.33 33.33 10.78 11.86 10.53
Eagle Asset Management Inc. - Value  - Institutional 12.90 24.88 24.88 2.43 0.18 2.29
Freedom Capital Management, LLC - Lg Cap Value-Core Value Composite 14.48 32.24 32.24 0.55 0.10 3.11
HGK Asset Management, Inc. - Large Cap Value Equity 14.05 35.61 35.61 2.64 2.56 3.68
ICC Capital Management, Inc. - Core Value 12.94 32.90 32.90 2.73 2.14 3.21
INVESCO - Large Cap Value Equity
Oppenheimer Capital - Value Equity 13.69 31.82 31.82 3.28 1.88 5.78
RhumbLine Advisers - Russell 1000 Value Index Fund
State Street Global Advisors - Large Cap Value 12.27 28.32 28.32 6.32 3.30 4.59
Westwood Management Corporation - REIT 9.56 35.68 35.68 19.30 17.01 14.97
Russell 1000 Value 14.19 30.03 30.03 4.81 1.22 3.56
S&P 500/Barra Value 14.46 31.79 31.79 2.13 -2.71 1.95
MID-CAP EQUITY
Globalt, Inc. - Mid Cap Equity 13.24 37.01 37.01 -0.21 -2.89 3.69
HGK Asset Management, Inc. - Mid Cap Value Equity 15.75 45.08 45.08 16.11 16.94 9.40
RhumbLine Advisers - S&P 400 Index Fund
Roxbury Capital Management - Small to Medium Capitalization
State Street Global Advisors - Matrix Mid-Cap Strategy 11.00 42.47 42.47 11.50 6.06 9.13
Russell Midcap 13.97 40.06 40.06 8.35 3.48 7.23
S&P Midcap 400 13.19 35.62 35.62 7.67 4.84 9.21
                         
Total Equities             12.20% 29.32% 29.32% 1.00% -3.66% -1.94%
ASSET CONSULTING GROUP
a division of Gabriel, Roeder, Smith, & Co. Page 20
Performance of Other Managers
December 31, 2003
Qtr YTD 1Yr 2Yr 3Yr 5Yr
SMALL CAP EQUITY
Atlanta Capital Management Company - High Quality
Eagle Asset Management Inc. - Small Cap - Institutional 14.48 32.52 32.52 5.47 11.77 16.90
Eagle Asset Management Inc. - Small Cap Equity - Core 10.91 43.32 43.32 5.73 8.24 5.41
Sawgrass Asset Management LLC - Small Cap Growth Equity 10.99 36.07 36.07 0.22 -9.65 1.00
State Street Global Advisors - Small Cap Growth Opportunities 16.00 47.95 47.95 3.28 -2.64 9.44
Wellington Management Company, LLP - Small Cap 2000 12.92 39.27 39.27 8.00 7.70 12.05
Russell 2000 14.52 47.26 47.26 8.21 6.27 7.13
S&P SmallCap 600 14.78 38.79 38.79 8.85 8.08 9.67
INTERNATIONAL EQUITY
ICC Capital Management, Inc. - International ADR 19.10 37.01 37.01 6.39 -1.97 2.02
Oppenheimer Capital - International Value Equity 15.61 34.82 34.82 12.28 1.95 8.12
State Street Global Advisors - International Index (EAFE) 17.04 38.71 38.71 8.21 -2.76 0.07
MSCI EAFE 17.11 39.17 39.17 8.34 -2.57 0.26
                         
Total Equities             12.20% 29.32% 29.32% 1.00% -3.66% -1.94%
ASSET CONSULTING GROUP
a division of Gabriel, Roeder, Smith, & Co. Page 21
Performance of Other Managers
December 31, 2003
Qtr YTD 1Yr 2Yr 3Yr 5Yr
CORE FIXED INCOME
Atlanta Capital Management Company - High Quality Br. Mkt.
Eagle Asset Management Inc. - Core Fixed Income 0.25 3.55 3.55 6.52 7.01 6.27
Freedom Capital Management Corporation -Aggregate 0.22 4.09 4.09 6.01 6.70 6.11
Freedom Capital Management Corporation -Gov't/Credit -0.10 4.38 4.38 6.22 6.83 5.82
Globalt, Inc. - Controlled Duration 0.34 4.85 4.85 7.44 8.20 6.47
HGK Asset Management, Inc. - Domestic Fixed Income 0.28 5.10 5.10 6.70 7.63 5.97
ICC Capital Management, Inc. - Core Fixed Income 0.25 3.34 3.34 6.12 7.02 6.46
INVESCO, Inc. - Core Fixed Income
Oppenheimer Capital - Value-Fixed Income 0.83 4.62 4.62 7.21 7.65 6.65
Rockwood Capital Advisors - Strategic Duration 0.23 3.17 3.17 5.21 6.25 6.07
Sawgrass Asset Management LLC - Broad Market Fixed Income 0.19 4.11 4.11 7.358 7.701 6.806
State Street Global Advisors - Bond Market Fund 0.45 4.44 4.44 7.43 7.66 6.62
Westwood Management Corporation - Core Fixed Income - LBG/C Benc -0.29 2.81 2.81 6.79 7.27 6.59
Lehman Brothers Aggregate Bond 0.32 4.11 4.11 7.14 7.57 6.62
Lehman Brothers Gov/Credit Bond -0.02 4.68 4.68 7.80 8.04 6.65
INTERMEDIATE FIXED INCOME
Colony Capital Management - Domestic Fixed 0.04 2.28 2.28 5.61 6.54 6.04
Davis, Hamilton, Jackson & Associates, L. P. 0.29 4.20 4.20 6.96 7.52 6.45
Eagle Asset Management Inc. - High Quality Taxable Bonds 0.10 3.10 3.10 6.06 6.99 6.39
Sawgrass Asset Management LLC - Intermediate Fixed Income 0.15 3.42 3.42 6.58 7.27 6.54
State Street Global Advisors - Intermediate Bond Fund 0.15 4.44 4.44 7.00 7.58 6.65
Lehman Brothers Gov/Credit-Intermediate 0.06 4.30 4.30 7.02 7.67 6.65
Total Fixed Income           0.14% 4.13% 4.13% 7.50% 7.93% 6.68%
ASSET CONSULTING GROUP
a division of Gabriel, Roeder, Smith, & Co. Page 22