| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| QWEST CORP | 25,000 | 24,700 |
| ARES CAPITAL | 49,810 | 51,200 |
| FIFTH THIRD BANCORP PFD | 50,000 | 54,500 |
| PITNEY BOWES INC | 24,816 | 25,570 |
| PUBLIC STORAGE | 50,000 | 46,200 |
| SENIOR HOUSING | 20,256 | 23,310 |
| VERIZON COMMUNICATIONS | 50,000 | 52,180 |
| SOUTHERN CO | 50,000 | 52,200 |
| FEDERAL NATL MTG ASSN | 50,000 | 15,800 |