| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 10M CITIZENS UTILITIES, 7.45%, DUE 2035 | 9,955 | 6,950 |
| 25M GOLDMAN SACHS, 6.75%, DUE 2037 | 26,249 | 29,223 |
| 50M PROVIDENT COMPANIES, 7%, DUE 2018 | 48,635 | 55,327 |
| 25M WEYERHAUSER, 6.875%, DUE 2033 | 25,129 | 28,810 |
| 11M HEWLETT-PACKARD, 6%, DUE 2041 | 11,287 | 9,604 |
| 43M CLIFFS NAT RES INC, 6.25%, DUE 2040 | 37,631 | 7,740 |
| 5M WEATHERFORD INTL, 6.5%, DUE 2036 | 4,721 | 3,375 |
| 25M WEATHERFORD INTL, 7%, DUE 2038 | 24,004 | 17,438 |