| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| APARTMENT INVESTMENT AND MANAGEMENT CO | 5,247,611 | 6,076,165 |
| VANGUARD INDEX | 19,485 | 25,836 |
| IPI STOCK | 22,881 | 10,067 |
| VANGUARD SP 500 | 633,719 | 1,103,684 |
| ALLIANZ AGIC INTL GWTH OPPORT. | 393,402 | 437,522 |
| AT&T | 55,858 | 55,714 |
| COLGATE-PALMOLIVE | 236,430 | 235,584 |
| GENERAL ELECTRIC CO. | 189,930 | 189,600 |
| JOHNSON & JOHNSON | 184,776 | 184,336 |
| PEPSICO | 303,746 | 303,427 |