Investment Strategy

In the Plan, all contributions are combined into a pooled investment, versus individually defined investments. Individual accounts are still kept, but all funds are invested under one investment strategy.

Investments are diversified into growth, growth and income, and value stocks as well as fixed income investments (e.g. bonds). Currently the Investment Policy calls for 30% of the fund to be invested in Growth and Income Stock, 10% in International, 30% in Value, and 30% in Fixed. It is designed to be a moderate-at-best risk to protect the fund while allowing for some growth. The Plan cannot invest in alcohol, tobacco, abortion- related, and entertainment industries.

Unit values are like "shares" purchased in the Pension Fund. The number of units increases in each Participant's individual account as long as contributions are made. The value of those units is tied to market activity, as well as all other contributions and withdrawals. Statements are mailed each September.

Investment Performance
Growth Rates
Regular Fund: • 2007: 8.82%
Safe Harbor Fund: • 2007: 5.61%

Investment Type	Manager	Fund	2/29/08 Balance
Equities
Value	Merrill-Lynch	Marisco	812,744
Value	Key Trust	Directly Managed	2,544,513
Value	Merrill-Lynch	Davis	785,176
Value	Merrill-Lynch	MFS Institutional	794,651
International	Merrill-Lynch	Invesco	985,269
Fixed Income
Bonds	Key Trust	Directly Managed	1,917,933
Cash	Key Trust	Directly Managed	434,482
Safe Harbor	Key Trust	Directly Managed	325,482
Total Fund			$ 8,600,250