Valueline Mutual Funds June08

THE VALUE LINE

Part 1 of 2 parts. File in front of Mutual Funds Binder. Remove previous Performance & Index.

Mutual Fund Survey

www.valueline.com

Performance & Index

June 3, 2008

Part 1

Economic and Stock Market Commentary

Contents Cover Story

1

Identity Theft-Take Some Time to Safeguard Your Good Name!

2

Model Portfolio Asset Class Large Value

3

Index to Mutual Funds

5

Best- and Worst-Performing Funds by Category Performance Benchmark Averages

The economic picture remains dour as the second quarter winds down. True, recent reports do show that residential construction rebounded last month, with housing starts and building permits increasing nicely on the strength of a strong gain in multi-family activity. However, the construction of single-family units fell, pointing to further weakness ahead in that category. What’s more, industrial production, factory use, and retail sales are weakening. Such aggregate softness suggests that the nation’s gross domestic product—which rose 0.6% in the first quarter—may flatten out or, more likely, decline modestly in the current period.

40 48

In Two Parts: Part 1 is Performance & Index. Part 2 is Ratings & Reports. Volume XVIII, Number 7. Published every three weeks, except January and July when it is every two weeks by VALUE LINE PUBLISHING, INC. 220 East 42nd Street, New York, NY 10017-5891. © 2008, Value Line Publishing Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for each subscriber’s own, noncommercial, internal use. No part of this publication may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. Officers, directors or employees of Value Line, Inc. or Value Line Publishing, Inc., as well as certain investment companies or investment advisory accounts for which Value Line, Inc. acts as investment advisor, may own mutual funds that are reviewed or recommended in this publication. Nothing herein should be construed as an offer to buy or sell funds or to give individual investment advice. All investors must read applicable prospectuses before investing. Certain data items provided by CDA Wiesenberger.

We think that more sluggishness lies ahead. First, we clearly are not out of the woods on the housing front, with still-declining home prices likely to keep many potential buyers on the sidelines. We also may see additional slippage in industrial production and factory use. On a more positive note, the now-arriving tax rebates should give retail spending a lift in the third quarter, before consumers retrench again after those monies are spent. We expect the economy to show little strength until late 2009 or even 2010. Then, there is inflation, which is heating up. Global industrialization (which

has pushed up demand for oil and gas in such countries as China and India) and food shortages around the world (in particular for wheat and corn) are driving prices higher and are largely responsible for the current flareup in inflationary pressures. As U.S. corporations seek to pass along these higher costs—along with rising prices for other goods—by pushing up prices, inflation will increase further.

The Federal Reserve’s policies are likely to be less supportive going forward. Specifically, we think the materially higher level of inflation and the likely sustainability of a very modest business upturn will prompt the Fed to vote in a series of interest rate increases later this year or in 2009.

Investors remain resilient for the most part, even with occasional sharp selloffs along the way as we saw just before Memorial Day, as they largely focus on the projected recovery in the economy down the road, rather than on the growing risks of higher inflation and interest rates. That could prove to be unwise.

Conclusion: We think that some caution is advisable after the recent runup in stock prices.

Page 2

Identity Theft— Take Some Time to Safeguard Your Good Name!

THE VALUE LINE MUTUAL FUND SURVEY

A

s a subscriber, you spend many hours a year determining where to put your precious investible funds. This requires you to put aside all distractions, usually before or after work, so that wellthought-out decisions can be made. Identity theft, one of the fastest-growing crimes in the United States, can be a great distraction and can consume years of your time and more money than you might imagine as you work to clean up the mess if it occurs. In this case, prevention is the best protection. Here are some tips to keep your identity secure: -Protect your Social Security number. Never give it to anyone who contacts you through telephone solicitation. The same holds true for your bank account and credit card numbers. Do not provide to anyone who contacts you through telephone solicitation mother’s maiden name, spouse’s mother’s maiden name, or any other personal data being sought for verification purposes. -Make sure any online credit card charges are handled through a secure site or in an encrypted mode. -Protect your credit card receipts, especially if they list your full account numbers and expiration dates. -Buy a shredder and use it. Shred everything, especially any document that has your financial information and/or personal information that can give an identity thief your personal profile. -Monitor your credit card accounts carefully, so you’ll see if unauthorized purchases have been made. Also, close out unused credit cards. -Get your credit report once a year, since the Fair and Accurate Credit Transactions Act of 2003 requires that credit bureaus provide this to you without charge. -Never leave paid bills in your mailbox for pickup. Someone can take them and get much of your personal information from the contents.

June 3, 2008

-Have your mailslot empty into a locked door. Outside mailboxes are subject to theft. Thieves can retrieve new credit cards that have been opened in your name and address. -Any online credit card charges should be handled through a secure site or in an encrypted mode. Many years ago, the identity of one of my friends was stolen by his sibling. About sixty credit cards were opened in his name over several years. They were used with only minimum payments, and were discovered only when payments on several of the cards were mistakenly missed. It took my friend quite a few years to resolve the serious problem his sibling had created, not to mention the cost of lawyers and time off from work. Opening new credit card accounts, however, is only one of the ways an identity thief can hurt you. They can also create counterfeit checks, obtain fake driver’s licenses, purchase cars and houses, obtain medical procedures with your insurance, file tax returns, and even file bankruptcy—all under your name and identification. It is estimated that more than half a million people are victims of identity theft each year, making it one of the fastest-growing crimes in the U.S. The Federal Trade Commission, chartered with protecting America’s consumers, is the central repository for all identity theft complaints. The main Web site address is www.ftc.gov. You can file an online complaint detailing the information you have about your identity theft. This site provides useful information about a variety of consumer and borrower topics. It also contains the do-not-call registry, which helps stop telemarketers from calling you. In addition to educating yourself, you should make your children aware of this growing threat. Young people often think of themselves as invincible, and the concept of identity theft is more difficult to understand than the possibility of physical harm. Take them to the Federal Trade Commission Web site, so they can begin to protect themselves as best they can.

Robert J. Adamski © 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

June 3, 2008

I

n general, the past year has not been kind to large-cap value funds. The (large cap) Russell 1000 Value Index declined 11.3% from April 30, 2007 to April 30, 2008. This weak performance contrasts with the results of the (large cap) Russell 1000 Growth Index, which declined just 1.4% during the same time period. This is also in contrast to the five-year period ended April 30, 2007, where the same Russell 1000 Growth Index rose a total of 28% compared with a total increase of 54.4% for the Russell 1000 Value Index. This change in relative strength should be of interest to all subscribers, since we recommend large growth be a part of every subscriber’s fund portfolio, regardless of one’s risk tolerance and time horizon. This month, we will examine several Large-Cap Value funds that we follow in the Mutual Fund Survey. Fidelity Contrafund (FCNTX) is best suited for higher-risk investors. Its main objective is capital appreciation by investing in common stocks. Although value is important to management, a prospective stock must offer more than just low valuations; it must also demonstrate a catalyst that will enhance its fundamentals. Examples of this would include new management, new product launches, dramatic cost-cutting efforts. Stocks that trade at a discount to other companies in the same industry may be bought. It also looks for stocks that have fallen out of favor with investors that are temporary. The fund has declined 6.5% in 2008, as of April 30th, outperforming both the S&P 500 and some of its peer group. Its long-term performance is also very good, outpacing both its peer group and the S&P 500 over the trailing one-, three-, five-, 10-, 15-, and 20-year periods as of April 30th, 2008. To obtain more information on this fund call (800) 522-7297, or visit the Web site at www.fidelity.com.

THE VALUE LINE MUTUAL FUND SURVEY

market conditions, management will invest at least 80% of the fund’s net assets in dividend-paying equity securities. No more than 25% of net assets may be devoted to any one industry. When selecting stocks, management uses fundamental research that accounts for numerous factors, including financial strength, management capability, growth potential, and valuations, earnings, and cash flow capabilities.

Page 3

Model Portfolio Asset Class-Large Value

The fund has declined 1.6% for the four months ended April 30th, outperforming the S&P 500 and most of its peers. Its longterm performance is also excellent, outpacing the S&P and most of its peers for the trailing one-, three-, five-, 10-, 15-, and 20year periods. To obtain more information on this fund call (800) 262-1122 or visit the Web site at www.eatonvance.com. Investors with lower risk tolerance could look at the Seligman Large-Cap Value Fund (SLVIX). This fund’s objective is long-term capital appreciation. Management focuses on companies with market-caps of $2 billion or more at the time of purchase that it views as value opportunities. When selecting securities, management incorporates bottom-up analysis. In particular, it looks for companies trading at low price/earnings and price/ book value ratios. Management also seeks to identify shares that have fallen as a result of factors that no longer exist. The fund has lost 2.6% for the four months ended April 30th, 2008 and has outperformed the S&P 500 for the one-, three-,and five-year periods, while outpacing most of its peer group during those same timeframes. Its level of volatility is well below the objective group’s overall average. More information about this fund is available at its Web site, www.seligman.com, or you can call (800) 221-2783. Robert J. Adamski

Investors with more moderate risk tolerance may want to look at the Eaton Vance Large Cap Value A Fund (EHSTX). This fund’s main objective is long-term total return. To meet this objective, management invests in a diversified portfolio of large-capitalization, value-oriented companies. Under normal © 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

Page 4

Symbols and Footnotes

June 3, 2008

SHAREHOLDER OWNERSHIP COSTS

Net asset values quoted are those at the close of the market, May 21, 2008. S — Supplemental profile is included in Edition S, which is provided only to annual subscribers. P — Pending coverage in issue as indicated (#). I — Fund data provided only in the Performance & Index.

Provides indication of the cost of ownership based on three-year holding period, incorporating maximum applicable sales or redemption charges, fees and expenses. $ Lower than average ownership costs $$ Average ownership costs $$$ Higher than average ownership costs

VALUE LINE RANKINGS Overall ranks are calculated separately for three broad groups of funds: Equity & Partial Equity Funds, Taxable Fixed Income Funds, and Municipal Bond Funds.

Risk Ranks are calculated separately for two broad groups of funds. The first group includes Equity & Partial Equity Funds. The second includes Fixed Income & Municipal Bond Funds.

OVERALL RANK 1 2 3 4 5

RISK RANK

Highest Above Average Average Below Average Lowest

1 2 3 4 5

Lowest Risk Lower Risk Average Risk Higher Risk Highest Risk

MANAGER RATINGS AND PEER GROUPS Full-page fund profiles in the Ratings & Reports section include Manager Ratings. In the same way that Alpha can be thought of as measuring whether a fund’s actual return is above or below its expected return based on beta, Value Line’s Manager Rating seeks to measure the “value added” (or detracted) by a manager during his or her tenure at a fund. Manager Ratings are calculated for equity funds, partial equity funds, and select fixed-income funds. Conventional fixed-income funds, however, do not have a sufficiently wide dispersion of returns to effectively distinguish a manager’s contribution from such other factors as fund expenses. The Rating represents the annualized percentage by which

the actual return was above or below the “expected” return, with the expected return determined by the risk and performance of a set of similarly managed funds, or Peers. Managers must have at least 24 months at their current fund in order to receive a rating, and in order to make fair and meaningful comparisons, Peers are defined far more narrowly, in some cases, than the broad set of Investment Objectives. Manager Rating calculations begin at the more recent of the first point at which there are five funds in a Peer group, or the start date of the manager. The listing below shows the Peer groups and the starting dates for which ratings are calculated.

INVESTMENT OBJECTIVES / PEER GROUPS Name

Start Date for Manager Ratings

Code

AA

Asset Allocation

May 31, 1987

AG BA

Aggressive Growth Balanced

Dec. 31, 1973 Dec. 31, 1980

CG

Corp-High Quality

N/A N/A

Code

IT

Intermediate Maturity

Code

Name

Start Date for Manager Ratings

HL

Health Care

Jan. 31, 1986

PM

Precious Metals

Aug. 31, 1981

IB

International Bond FO Foreign

N/A Feb. 28, 1992

RE SC

Real Estate Small Company

Oct. 31, 1989 Dec. 31, 1973

GL Global

May 31, 1988

TC

Technology

Jan. 31, 1984

ST Short Maturity

Oct. 31, 1990

UT

Utilities

CH

ST Short Term Corp-High Yield

CV

Convertible

Feb. 28, 1987

HY High Yield

N/A

DB

Diversified Bond

Sept. 30, 1986

IS

N/A

EN EU

Energy/Nat. Res. Europe Equity

Jan. 31, 1986 Mar. 31, 1990

IT Intermediate Maturity ST Short Maturity

FL

Flexible

Sept. 30, 1982

FO

Foreign Equity

Dec. 31, 1984

HY High Yield

N/A

July 31, 1993 Dec. 31, 1992

IS Insured ST Short Maturity

N/A N/A

EM Emerging Markets LA Latin America

N/A Dec. 31, 1973

Name

Start Date for Manager Ratings

IN MB

MC

Income (Equity) Municipal National Insured

Municipal California

N/A N/A N/A

FS

Financial Services

Jan. 31, 1986

MS

Municipal Single State

N/A

GI

Growth/Income

Dec. 31, 1973

MY

Municipal New York

N/A

GL GM

Global Equity Gov’t Mortgage

Jan. 31, 1984 N/A

HY High Yield IS Insured

N/A N/A

N/A

ST Short Maturity

N/A

AJ

Adjustable Rate

GR

Growth

Dec. 31, 1973

OT

Other Specialized

N/A

GS

Government Sec’s IT Intermediate Maturity

N/A N/A

PB

Pacific Equity JP Japan

Nov. 30, 1988 N/A

ST Short Maturity

N/A

NJ

Non-Japan

GL Global

Dec. 31, 1978 N/A

Jan. 31, 1982 N/A

Note:

Manager Ratings for funds in the following Peer Groups are calculated without regard to the funds’ Investment Objective:

GW

Growth oriented

Nov. 30, 1981

LB

Large-cap Blend

Dec. 31, 1977

LG LV

Large-cap Growth Large-cap Value

Dec. 31, 1973 Aug. 31, 1977

MB

Mid-cap Blend

Dec. 31, 1997

MG

Mid-cap Growth

Nov. 30, 1992

MV SB

Mid-cap Value Small-cap Blend

Mar. 31, 1996 Dec. 31, 1973

SG

Small-cap Growth

June 30, 1984

SV

Small-cap Value

Oct. 31, 1981

VL

Value oriented

Dec. 31, 1973

N/A

Vol. XVIII, Number 6, Parts 1 & 2. The Value Line Mutual Fund Survey (ISSN 1070-4337) is published every three weeks, except January and July when it is every two weeks by Value Line Publishing, Inc., 220 East 42nd Street, New York, NY 10017-5891 and is accorded expeditious treatment prescribed for newspapers. Subscription rates for 18 issues in the United States and U.S. possessions is $345. Foreign rates upon request. Periodicals Postage paid at New York, NY. Canadian GST# 127621837. Postmaster: Send address changes to The Value Line Mutual Fund Survey, 220 East 42nd Street, New York NY 10017-5891. © 2008 by Value Line Publishing, Inc. © 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page

Fund Name

Inv. Obj./Peer

Total Return Through 4/30/08

Value Line Rankings Index to Mutual Funds NAV 5 Yr. Growth 5/21/08

Overall

Risk

Persistence YTD

3 Mos

Annualized 6 Mos 12 Mos

Page 303 601 1401 I 601 304 1409 1334 601 1213 1201 503 1213 1201 504 601 1213 1128 1413 151 401 204 103 1213 1001 104 552 1103 1104 570 1409 1409 1409 585 I 1505 1516 1548 1214 703 1548 401 1590 I 401 1015 204 1590 742 773 602 1335 401 I I 602 402 402 602 1201 I 1336 1516 402 815 1541 505 402 1337 I

Fund Name 1st Source Monogram Income Equity (FMIEX) Accessor Growth Portfolio Adv (AGROX) Accessor Intl Equity Adv (ACIEX) Accessor Mortgage Securities Adv (AMSFX) Accessor Small to Mid Cap Adv (ASMCX) Accessor Value Fund Adv (AVAIX) AFBA 5Star USA Global I (AFGLX) AHA Balanced Portfolio (AHBPX) AHA Diversified Equity I (AHDEX) AIC Acadian Emg Mkt Inst (AEMGX) AIC FMA Sm Co Inst (FMACX) AIC ICM Small Company Port I (ICSCX) AIC McKee Intl Eqty Inst1 (MKIEX) AIC Rc Hll Jm Micro Cp Inst (RHJSX) AIC Rice Hall James Small Cap (RHJMX) AIC TS&W Eq Port Inst (TSWEX) AIC TS&W Intl Eq Inst (TSWIX) Aim Asia Pacific Growth A (ASIAX) Aim Basic Balanced A (BBLAX) Aim Basic Value A (GTVLX) Aim Capital Development A (ACDAX) Aim Charter Fund A (CHTRX) Aim Constellation Fund A (CSTGX) Aim Developing Markets A (GTDDX) Aim Diversified Dividend A (LCEAX) Aim Dynamics Fund Inv (FIDYX) Aim Energy Inv (FSTEX) Aim European Growth A (AEDAX) Aim European Small Company C (ESMCX) Aim Financial Services Inv (FSFSX) Aim Global Aggr Growth Fund A (AGAAX) Aim Global Equity A (GTNDX) Aim Global Growth Fund A (AGGAX) Aim Global Health Care A (GGHCX) Aim Gold & Prec Met Inv (FGLDX) Aim High Yield Fund A (AMHYX) Aim Income Fund A (AMIFX) Aim Interm Govt Fund A (AGOVX) Aim International Growth A (AIIEX) Aim Leisure Inv (FLISX) Aim Ltd Maturity Treas Ret A (SHTIX) Aim Mid Cap Core Equity A (GTAGX) Aim Municipal Bond Fund A (AMBDX) Aim Real Estate C (IARCX) Aim Select Equity Fund A (AGWFX) Aim Small Cap Growth A (GTSAX) Aim Summit Fund I (SMMIX) Aim Tax-Free Intermediate A (AITFX) Aim Technology Inv (FTCHX) Aim Utilities Inv (FSTUX) Al Frank Fund (The) (VALUX) Alger Balanced Fund B (ALGBX) Alger Capital App Fund B (ACAPX) Alger Capital App Instl Fund I (ALARX) Alger China U.S. Growth (CHUSX) Alger LargeCap Gr Instl Fund I (ALGRX) Alger LargeCap Growth Fund B (AFGPX) Alger MidCap Gr Fund B (AMCGX) Alger MidCap Gr Instl Fund I (ALMRX) Alger SmallCap Growth Fund B (ALSCX) Alger Smallcap Growth Instl (ALSRX) Allegiant Balanced Allocation I (ABAIX) Allegiant Intermediate Bond I (AFIIX) Allegiant Large Cap Growth I (AEQIX) Allegiant Large Cap Value I (AEIIX) Allegiant Limited Maturity Bond I (AINIX) Allegiant M-F Small Cap Value I (AMRIX) Allegiant Midcap Growth Inst (AMCIX) AllianceBernstein Balanced Shares A (CABNX) AllianceBernstein Glb Hlth Care A (AHLAX)

GI GR/LG FO GM GR/MG GI/LV GL BA GR/LB FO/EM SC/SV SC/SV FO SC SC/SB GR FO PB/NJ BA GR/LV GR GR/LB AG/GW FO/EM GI AG/MG EN EU EU/SG FS GL GL GL HL PM CH CG GS/IT FO OT GS/ST GR/MB MB/LT RE GR SC/SG GR/GW MB/IT TC UT GR/VL BA GR/LG AG/GW PB/NJ GR/LG GR/LG GR/MG GR/MG SC/SG SC/SG BA CG/IT GR/LG GI/LV DB SC/SV GR/MG BA HL

NAV 5/21/08 15.23 26.05 23.02 12.58 29.14 22.01 15.42 8.31 14.63 31.35 17.97 32.85 14.89 14.82 10.28 12.13 17.44 26.03 12.56 29.07 16.80 16.15 27.27 31.43 12.28 21.89 55.23 40.30 21.53 15.92 22.20 14.20 25.73 26.58 8.43 4.22 5.79 8.67 30.64 40.92 10.28 23.52 7.94 24.49 19.23 27.46 14.81 10.72 28.38 19.69 29.45 22.31 12.99 20.20 19.00 15.18 11.67 7.04 16.91 6.08 25.37 10.88 10.86 18.45 16.69 9.99 12.92 8.40 15.78 13.02

Overall 1 3 ▼3 ▲1 4 4 5 3 3 ▲1 3 3 1 5 5 ▲2 1 ▼2 3 ▼5 ▼4 2 4 ▼2 3 3 2 2 3 5 ▼2 3 2 3 2 ▲3 4 2 1 4 2 2 1 3 5 4 2 2 5 1 4 ▼3 2 2 2 3 3 3 3 3 3 2 2 ▼4 3 1 5 ▼5 3 3 ▲

5 Yr. Growth Risk Persistence YTD 2 3 4 2 3 3 4 1 2 5 ▼ 4 3 3 4 ▲ 4 2 3 4 1 3 4 2 3 5 2 4 5 ▲ 3 5 4 ▲ 3 3 3 2 5 4 3 2 3 3 1 2 3 5 3 4 3 2 4 3 ▲ 3 2 4 4 5 3 3 4 4 4 4 1 2 3 3 1 5 ▼ 4 ▼ 2 3

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

Ownership Costs

Ownership Costs $$ $$ $$ $ $$ $ $$ $ $$ $$ $$ $ $ $$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$ $$$ $$ $$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$ $ $$$ $$ $$ $$$ $$$ $ $ $$ $ $$ $$$ $$$ $$ $$$ $$ $$$ $$$ $$ $$$ $$ $ $ $ $ $ $$ $ $$ $$

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

1S-AL

Page 5

▼

▼

▲

▼

1 5 1 3 2 3 4 4 3 1 2 2 1 3 5 3 1 1 5 4 2 3 4 1 3 2 2 1 1 4 1 2 2 4 2 1 3 3 1 3 3 3 1 2 5 3 3 4 4 2 3 4 2 2 3 3 3 3 2 2 4 3 4 2 3 4 4 4 4

-2.3 -7.0 -4.8 1.9 -7.0 -7.4 -12.2 -2.9 -4.9 -2.0 -3.3 -3.2 -0.9 -13.7 -8.3 -3.6 -2.3 -10.8 -4.6 -7.1 -9.3 -3.2 -9.9 -9.2 -1.9 -10.4 9.2 -6.4 -2.9 -7.9 -10.0 -4.4 -5.4 -8.1 1.1 1.2 -1.7 2.4 -5.7 -6.4 1.8 -1.7 0.3 7.8 -9.0 -7.4 -3.6 1.4 -10.2 -4.9 -7.6 -5.6 -10.1 -9.7 -8.7 -8.8 -8.8 -14.4 -13.5 -13.1 -12.9 -2.8 2.5 -6.6 -4.1 1.8 -5.9 -9.0 -6.0 -12.8

Annualized 3 Mos

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

2.8 2.0 6.6 -0.2 -1.2 -1.1 2.9 -0.4 0.2 12.5 3.1 3.4 7.6 -4.0 1.3 1.0 6.8 -1.2 -1.2 -1.4 0.2 1.7 1.1 0.9 1.2 -0.3 20.8 4.6 11.1 -8.5 -0.1 2.5 3.4 -3.0 -5.5 3.1 -1.2 0.3 3.6 -1.6 0.3 3.6 -0.7 8.1 -3.3 0.2 4.3 -0.1 3.0 2.4 -0.8 1.1 1.1 1.2 7.1 3.2 3.0 1.0 1.9 -3.3 -2.9 1.7 0.4 2.7 1.8 0.2 0.9 2.4 -2.6 -7.8

-5.2 -9.9 -12.9 4.0 -14.8 -13.8 -14.7 -5.3 -9.8 -10.2 4.6 -9.7 -7.6 -22.3 -13.1 -7.7 -8.1 -18.2 -8.4 -12.8 -14.4 -6.7 -14.9 -15.7 -6.8 -14.8 8.4 -11.3 -15.9 -22.0 -14.6 -12.2 -10.2 -8.6 -6.6 -1.0 -2.6 4.2 -12.1 -15.4 3.5 -3.9 1.1 -7.9 -14.7 -13.7 -5.5 2.4 -19.7 -5.8 -13.5 -8.1 -11.8 -11.5 -17.3 -11.7 -11.8 -15.8 -15.2 -18.3 -18.0 -5.9 4.6 -10.5 -10.7 3.2 -13.1 -14.9 -7.8 -14.0

14.0 4.8 19.1 4.4 6.7 6.9 4.0 6.1 6.8 36.1 15.7 11.3 16.4 4.9 -0.6 9.3 17.8 25.0 4.9 5.3 11.2 9.6 7.6 31.8 7.1 11.7 32.8 19.6 24.3 -2.2 18.0 10.0 13.4 6.9 33.8 6.0 1.7 4.2 18.6 6.6 3.9 9.9 3.0 12.5 4.9 11.1 12.4 2.9 7.1 17.2 8.6 6.7 18.8 19.3 31.1 10.2 9.7 12.9 15.1 14.3 14.6 8.3 4.7 8.1 9.7 4.4 -8.8 8.2 5.1 3.3

16.8 7.6 21.0 3.7 13.9 11.4 8.3 8.7 10.9 40.3 17.1 14.8 20.9 13.2 5.4 12.3 19.5 28.9 7.9 10.2 13.9 11.2 8.7 34.3 11.3 13.6 33.9 25.1 35.2 3.1 21.8 16.0 15.1 9.5 27.7 8.3 3.2 3.2 20.9 9.9 2.5 13.0 3.6 19.7 9.5 13.0 14.3 2.6 8.3 19.7 17.7 7.0 15.3 16.0 — 10.6 10.2 14.5 16.1 16.1 16.6 9.7 3.8 7.4 12.8 3.2 -1.4 9.7 8.0 6.6

9.7 1.7 6.4 5.1 4.2 2.9 3.8 5.1 5.2 18.1 8.4 9.6 7.7 7.4 3.4 4.3 6.4 12.6 — 7.0 6.1 3.7 2.1 10.5 — 4.1 18.2 13.9 — 1.7 7.4 8.4 3.7 8.1 12.0 0.3 2.4 4.6 6.7 9.8 3.9 9.1 4.2 11.8 2.6 8.7 3.0 4.2 -0.2 6.0 12.1 5.3 5.9 9.5 — 4.4 3.4 8.8 11.6 0.1 4.3 — 5.2 1.7 5.5 4.4 -0.7 2.0 5.9 —

1.3 0.2 0.8 4.5 0.2 1.3 0.0 2.4 1.0 1.2 0.0 0.6 1.9 0.0 0.0 0.9 1.0 0.7 2.3 0.1 0.0 1.3 0.0 0.7 1.5 0.0 0.0 1.3 0.5 2.2 0.4 1.8 0.2 0.0 0.6 7.6 5.6 4.8 0.5 0.8 3.6 1.2 4.0 1.1 0.0 0.0 0.5 4.2 0.0 1.7 0.2 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 4.2 0.0 1.7 4.2 0.0 0.6 2.2 0.0

2.2 -4.3 -1.7 6.7 -15.5 -9.7 -15.0 -2.7 -8.3 33.8 7.5 -6.1 1.6 -18.3 -4.0 -2.5 2.3 5.7 -6.3 -10.5 -7.8 -2.0 -4.6 8.9 -5.6 -6.9 34.0 -4.0 -10.4 -30.1 -2.5 -6.3 -4.0 -4.4 22.5 -1.8 -2.9 6.3 -0.6 -11.6 6.5 -0.8 2.1 -12.4 -13.1 -4.2 6.4 4.5 -5.4 0.8 -11.0 0.7 6.7 7.2 23.8 2.4 1.9 2.2 5.8 -6.4 -5.9 1.0 7.3 -1.1 -6.2 6.0 -20.0 -7.0 -6.4 -14.2

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

AL-AM

Page 6

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 1574 743 1548 305 204 1129 1574 1214 204 403 1584 1613 I 1590 1201 I 1338 774 602 1202 403 105 I 1130 352 506 403 403 I 152 404 153 I 1410 744 1413 724 I 725 603 1339 903 306 1413 1584 1584 1584 1401 205 353 307 1015 1564 I 952 205 205 815 1574 904 905 I 404 I I 205 1548 1303 1304 1305 1590 I 106 775 815

Fund Name AllianceBernstein Global Govt A (ANAGX) AllianceBernstein Global Tech A (ALTFX) AllianceBernstein Govt Short Dur (SNGSX) AllianceBernstein Growth & Income A (CABDX) AllianceBernstein Growth Fund B (AGBBX) AllianceBernstein Grtr China 97 A (GCHAX) AllianceBernstein High Inc Fd B (AGDBX) AllianceBernstein Intl Growth A (AWPAX) AllianceBernstein Lg Cap Growth B (APGBX) AllianceBernstein Mid-Cap Gr A (CHCLX) AllianceBernstein Muni Inc CA A (ALCAX) AllianceBernstein Muni Inc NY A (ALNYX) AllianceBernstein Muni-Insd CA A (BUICX) AllianceBernstein Muni-Insd Natl A (CABTX) AllianceBernstein Small Cap Gr A (QUASX) AllianceBernstein T-M Bal W-S A (AGIAX) AllianceBernstein T-M W-Presv A (ACIAX) AllianceBernstein Utility Inc B (AUIBX) Allianz CCM Cap Appreciation I (PAPIX) Allianz CCM Emerg Cos Inst (PMCIX) Allianz CCM Mid Cap Inst (PMGIX) Allianz NACM Growth Inst (NGFIX) Allianz NACM International I (NAISX) Allianz NACM Pacific Rim I (NAPRX) Allianz NFJ Dividend Value A (PNEAX) Allianz NFJ Small Cap Value Inst (PSVIX) Allianz OCC Eq Premium Strategy I (PMEIX) Allianz OCC Growth C (PGWCX) Allianz OCC Opportunity C (POPCX) Allianz OCC Renaissance C (PQNCX) Allianz OCC Target C (PTACX) Allianz OCC Value Inst (PDLIX) Allianz RCM Biotechnology D (DRBNX) Allianz RCM Global Small Cap D (DGSNX) Allianz RCM Technology D (DGTNX) Alpine Dynamic Balance (ADBYX) Alpine Intl Real Estate Y (EGLRX) Alpine Realty Inc & Growth Y (AIGYX) Alpine U.S. Real Estate Eq Y (EUEYX) Amana Growth Fund (AMAGX) American Beacon Balance Inst (AADBX) American Beacon Intl Eq Inst (AAIEX) American Beacon Lg Cap Val Inst (AADEX) American Century Balanced (TWBIX) American Century CA Hi-Yld Muni Inv (BCHYX) American Century CA Lg Term T/F (BCLTX) American Century CA Tax-Free Bond (BCITX) American Century Emerg Mkt Inv (TWMIX) American Century Equity Growth Inv (BEQGX) American Century Equity Income Inv (TWEIX) American Century Equity Index Inv (ACIVX) American Century Giftrust (TWGTX) American Century Ginnie Mae Inv (BGNMX) American Century Global Gold Inv (BGEIX) American Century Global Growth Inv (TWGGX) American Century Growth Inv (TWCGX) American Century Heritage Inv (TWHIX) American Century Inc & Gr Inv (BIGRX) American Century Intl Bond Inv (BEGBX) American Century Intl Disc Inv (TWEGX) American Century Intl Gr Inv (TWIEX) American Century L-T Tax-Free A (MMBAX) American Century Lge Comp Val (ALPAX) American Century New Opps II Inv (ANOIX) American Century Real Estate Inv (REACX) American Century Select Inv (TWCIX) American Century Sh-Term Govt Inv (TWUSX) American Century Str Alloc:Agg Inv (TWSAX) American Century Str Alloc:Con Inv (TWSCX) American Century Str Alloc:Mod Inv (TWSMX) American Century Tax-Free Bond Inv (TWTIX) American Century Tgt Mat 2020 Inv (BTTTX) American Century Ultra Inv (TWCUX) American Century Utilities Inv (BULIX) American Century Value Inv (TWVLX)

Inv. Obj./Peer IB/GL TC GS/ST GI/LB GR/LB PB/NJ IB FO GR/LB GR/MG MC/LT MY/LT MC/IS MB/IS SC/SB AA BA UT GR/LB SC/SB GR/MB AG GL PB IN SC/SV GR GR/LG AG/SG GR/MV GR/GW GR/LV HL GL TC BA RE RE RE GR BA FO GI/LV BA MC/HY MC/LT MC/IT FO/EM GR/LB IN GI SC/SG GM PM GL GR/LG GR/SB GI/LB IB/FO FO FO MB GR AG RE GR/LB GS/ST AA AA AA MB/IT GS/LT AG/LG UT GI/VL

NAV 5/21/08 8.12 70.16 12.59 3.88 25.56 24.76 8.51 20.66 19.18 5.26 10.76 9.79 13.51 10.06 27.90 12.70 11.44 25.03 19.91 17.83 27.80 15.11 20.12 15.71 16.15 32.30 8.66 24.19 17.58 15.03 19.48 11.97 23.10 27.86 44.61 11.73 36.07 20.34 27.28 22.68 13.91 22.02 22.21 15.65 9.63 10.98 11.05 10.44 23.11 7.56 5.55 29.88 10.38 24.04 10.26 25.35 20.61 27.29 15.49 13.26 13.58 10.63 6.69 8.08 22.76 38.99 9.59 7.96 5.50 6.67 10.81 66.33 22.95 18.01 5.96

Overall 3 4 3 3 4 ▼3 3 1 4 ▼4 3 1 3 1 4 3 ▼3 1 3 ▼5 2 3 3 2 2 3 ▼4 2 4 ▼4 3 4 ▼5 3 3 5 3 4 5 2 3 1 3 3 5 ▲4 3 2 4 3 4 2 4 3 1 2 2 4 ▲2 2 1 4 3 3 3 3 ▼2 1 2 ▲1 1 3 3 2 3

June 3, 2008

3 Mos

6 Mos 12 Mos

3 Yrs

5 Yrs

4 5 1 2 4 5 5 4 ▼ 4 5 4 3 ▲ 4 3 4 1 1 3 3 4 ▼ 4 3 4 4 2 3 ▼ 3 3 5 3 4 3 ▲ 4 4 5 3 4 5 5 5 1 3 2 1 4 4 3 5 3 2 2 4 3 5 3 3 4 3 5 5 3 3 2 4 5 3 1 2 1 1 3 5 3 3 2

-0.9 3.7 -0.3 -3.8 2.4 5.3 -1.3 5.8 3.1 1.1 -0.9 -0.9 -1.2 -0.9 0.5 0.4 0.4 0.9 2.0 1.0 6.7 -0.1 4.2 0.9 0.6 4.6 1.2 2.9 1.0 1.1 7.6 -9.1 -3.0 1.6 2.3 1.2 1.4 5.1 0.6 2.8 -1.5 4.0 -1.3 1.2 -1.6 -1.1 -0.4 5.2 2.3 1.3 0.9 3.8 -0.7 -13.3 5.8 4.4 3.9 -0.8 2.7 4.2 6.2 -0.6 -1.3 -0.5 6.5 3.5 0.4 2.6 1.1 1.8 -0.6 -1.9 1.6 0.3 0.8

-0.5 -17.2 2.1 -12.1 -14.2 -22.8 -3.7 -9.3 -11.1 -17.2 -0.1 0.8 0.6 0.9 -17.9 -4.2 -1.7 -5.5 -10.3 -17.4 -7.3 -14.0 -17.0 -13.1 -8.2 -5.1 -9.4 -8.5 -21.2 -8.9 -9.9 -18.9 -17.1 -19.7 -16.7 -13.0 -19.3 -10.0 -17.8 -7.2 -6.0 -7.9 -10.4 -3.6 -2.2 0.4 1.8 -15.2 -9.2 -6.8 -9.8 -8.0 2.0 -13.8 -9.3 -6.1 -8.0 -12.0 7.7 -17.0 -9.5 1.1 -11.3 -16.0 -7.2 -9.4 3.8 -7.0 -1.8 -4.8 2.2 6.4 -10.7 -8.8 -8.8

7.5 10.8 1.3 6.3 6.2 32.8 7.1 19.6 7.9 9.9 3.1 3.4 2.7 3.0 10.3 6.6 5.1 16.1 9.4 4.5 12.8 10.3 14.7 24.7 11.0 11.1 8.5 13.0 9.1 6.6 14.9 3.2 2.1 11.9 13.7 1.7 14.8 7.2 -6.4 16.8 6.7 15.0 9.1 6.4 0.2 0.6 1.1 36.5 7.6 7.5 7.8 25.8 1.6 28.7 17.9 10.6 25.8 6.1 5.9 27.6 18.1 1.2 6.0 14.4 13.0 6.4 4.0 11.8 7.1 9.8 3.0 5.0 5.7 14.7 6.0

7.2 11.2 0.6 10.2 9.1 33.6 9.8 24.5 7.3 15.1 4.3 4.3 3.3 3.7 13.2 7.5 4.9 18.9 11.4 11.0 15.7 8.9 21.5 29.7 14.9 16.1 10.6 11.9 14.4 14.2 15.3 11.2 5.3 19.8 18.2 5.7 24.8 14.9 12.9 20.1 10.6 20.4 15.1 8.2 2.8 2.0 2.4 35.4 11.2 10.6 10.1 19.8 2.0 23.0 19.4 10.8 20.2 10.3 8.3 27.6 18.6 2.8 10.7 17.1 19.2 7.4 2.7 13.2 7.8 11.0 3.0 5.3 7.5 18.7 10.5

▼

▼

▲

▲

1 3 5 3 3 2 1 1 4 3 1 1 2 1 3 5 5 2 3 3 2 3 2 1 2 2 3 3 3 3 3 3 4 2 3 5 1 2 3 1 3 1 2 4 3 3 4 1 3 3 4 2 4 2 1 3 2 3 2 1 1 3 3 2 2 4 3 3 4 3 3 2 4 2 3

-0.1 -11.3 1.1 -9.7 -10.0 -12.2 -2.0 -4.0 -8.4 -7.5 -0.4 0.2 -0.5 0.1 -11.9 -2.1 -0.8 -5.0 -8.1 -10.5 -4.7 -10.4 -6.9 -5.9 -4.2 1.3 -5.4 -4.7 -14.2 -3.8 -4.3 -13.1 -7.8 -10.3 -12.6 0.7 -8.1 5.6 -1.4 -28.1 -2.4 -3.9 -5.2 -2.0 -0.9 0.1 1.2 -9.6 -5.0 -2.4 -5.1 -8.8 0.7 -5.1 -5.0 -4.8 -8.7 -5.7 6.7 -7.8 -3.9 0.6 -5.4 -11.0 8.1 -7.6 2.1 -4.2 -0.9 -2.6 1.2 2.0 -9.5 -6.6 -2.6

10 Yrs

Trailing Yield

Ownership Costs

8.4 2.6 3.4 5.2 0.0 15.8 9.3 9.4 -0.7 1.9 4.6 4.5 4.4 4.1 -0.1 3.2 3.9 9.0 5.2 5.8 7.1 — — 15.8 — 9.7 7.7 2.2 3.9 9.3 7.0 7.7 — — 10.8 — 11.8 — 7.8 11.4 5.9 8.2 6.1 4.5 4.4 3.9 4.0 13.8 3.7 8.6 — 4.7 4.2 11.7 — 3.5 9.3 3.8 7.1 13.7 6.5 4.6 — — 12.1 2.2 4.0 7.1 5.7 6.6 4.5 10.5 2.6 6.6 6.3

0.4 0.0 2.1 1.3 0.0 0.3 1.2 0.8 0.0 0.0 4.0 4.0 3.4 3.8 0.0 1.9 2.0 1.2 0.5 0.0 0.0 0.0 1.7 0.0 2.2 1.8 0.0 0.0 0.0 0.0 0.0 1.4 0.0 0.0 0.0 1.4 1.3 4.4 1.9 0.4 3.0 2.8 1.8 2.1 2.1 2.3 2.0 0.8 1.0 2.8 1.7 0.0 0.0 1.1 0.0 0.1 0.0 1.6 3.8 0.4 0.8 3.1 1.8 0.0 1.8 0.0 4.2 1.4 2.8 2.1 4.0 0.0 0.0 2.2 1.8

$$$ $$$ $ $$ $$$ $$$ $$$ $$ $$$ $$ $$ $$ $$$ $$ $$ $$$ $$$ $$$ $ $$ $ $ $$ $$ $$$ $ $ $$ $$ $$ $$ $ $$ $$ $$ $$ $$ $$ $$ $$ $ $ $ $ $ $ $ $$ $ $ $ $ $ $ $$ $ $ $ $ $$ $$ $$ $$ $$ $$ $ $ $$ $ $$ $ $ $ $ $

Annualized

5 Yr. Growth Risk Persistence YTD

2.9 3.7 3.6 -9.3 -3.6 23.1 -2.7 3.3 0.0 -1.3 0.8 1.9 1.5 2.0 -5.9 -0.1 1.8 3.5 1.5 -11.3 4.9 -1.1 -9.8 6.4 -5.4 -0.8 -4.9 4.4 -14.2 -5.4 6.2 -20.4 -8.2 -13.7 10.5 -14.5 -14.5 -18.1 -21.2 4.5 -4.6 -1.5 -7.4 -1.1 -5.3 -1.8 0.8 18.6 -6.9 -4.7 -5.0 16.5 1.9 11.4 5.5 7.3 16.3 -11.2 14.5 3.6 3.9 0.1 -10.4 -1.1 -12.2 4.8 6.6 3.7 2.7 3.0 3.7 9.7 6.0 -2.1 -11.9

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 201 I 107 154 1340 1516 354 953 1574 1517 308 906 309 155 1591 1505 355 1517 310 311 206 954 955 956 1591 1585 1619 1549 312 603 1413 1517 603 313 1564 1549 1564 1564 356 603 1619 801 156 507 907 206 508 1341 404 1001 1342 404 604 108 604 1410 I I 1306 604 509 405 405 1015 604 I 605 1591 1549 1613 1549 908 1202 1170 510

Fund Name American Century Vista Inv (TWCVX) American Century-Mason St Hi Yld A (MHYAX) American Century-Mason St Mid Gr A (MAGAX) American Funds AMCAP A (AMCPX) American Funds Balanced A (ABALX) American Funds Bnd Fd of Amer A (ABNDX) American Funds Cap Inc Builder A (CAIBX) American Funds Cap Wld Gr&Inc A (CWGIX) American Funds Cap World Bond A (CWBFX) American Funds Endowments Bond (BENDX) American Funds Endowments Gr & Inc (ENDIX) American Funds EuroPacific Gr A (AEPGX) American Funds Fundamentl Invs A (ANCFX) American Funds Gr Fnd of Amer A (AGTHX) American Funds High Inc Muni Bnd A (AMHIX) American Funds High Income Tr A (AHITX) American Funds Inc Fnd of Amer A (AMECX) American Funds Intm Bd Fd Amer A (AIBAX) American Funds Inv Co of Amer A (AIVSX) American Funds Mutual Fund A (AMRMX) American Funds New Economy A (ANEFX) American Funds New Perspective A (ANWPX) American Funds New World A (NEWFX) American Funds SMALLCAP World A (SMCWX) American Funds T/E Bd of America A (AFTEX) American Funds Tax Exempt of CA A (TAFTX) American Funds Tax Exempt of MD A (TMMDX) American Funds US Govt Sec A (AMUSX) American Funds Wash Mutl Invs A (AWSHX) American Growth Fund D (AMRGX) American Perform Balanced (APBAX) American Perform Bond Fund (APBDX) American Perform US T-E LgCp Eq Inv (APEQX) Ameristock Mutual Fund (AMSTX) AMF Intermediate Mortgage Fund (ASCPX) AMF Short U.S. Government Fund (ASITX) AMF U.S. Government Mortgage Fd (ASMTX) AMF Ultra Short Mortgage (ASARX) API Efficient Frontier Cap Inc D (APIGX) API Efficient Frontr Growth Prim (APITX) Aquila Hawaiian T/F Trust A (HULAX) Aquila Rocky Mountain Equity A (ROCAX) Ariel Appreciation Fund (CAAPX) Ariel Fund (ARGFX) Artisan International Fund Inv (ARTIX) Artisan Mid Cap Fund (ARTMX) Artisan Small Cap Value (ARTVX) Aston Balanced Fund N (CHTAX) Aston/ABN AMRO Growth Fund N (CHTIX) Aston/ABN AMRO Value N (RVALX) Aston/Montag & Caldwell Bal N (MOBAX) Aston/Montag & Caldwell Gr N (MCGFX) Aston/Optimum Mid Cap Fund N (CHTTX) Aston/Veredus Agg Gr N (VERDX) Atlantic Whitehall Growth Dist (WHGFX) Austin Global Equity Fund (AGEQX) AXA Ent Global Fin’l Serv A (EGFAX) Barclays Gbl Inv Bd Index Fund (WFBIX) Barclays Gbl Inv LifePath 2020 Fd I (STLCX) Barclays Gbl Inv S&P500 Stock Fd (WFSPX) Baron Asset Fund (BARAX) Baron Growth Fund (BGRFX) Baron Partners Fund (BPTRX) Baron Small Cap (BSCFX) Barrett Opportunity Fd (SAOPX) BB&T Large Cap Fund A (BBTGX) BB&T Mid Cap Growth A (OVCBX) Bernstein Diversified Muni (SNDPX) Bernstein Intermediate Duration (SNIDX) Bernstein New York Muni (SNNYX) Bernstein Short Duration Plus (SNSDX) Bernstein Tax-Managed Intl Port (SNIVX) Berwyn Fund (BERWX) Berwyn Income Fund (BERIX) Bjurman-Barry Micro-Cap Growth Fd (BMCFX)

NAV 5/21/08

AG/MG 19.90 CH 6.72 AG/SG 13.66 GR/LG 18.82 BA 18.45 CG 12.86 IN/LB 60.42 GL 43.37 IB/GL 20.56 CG 15.43 GI/LV 15.24 FO 49.53 GI/LB 41.97 GR/LB 33.72 MB/HY 14.67 CH 11.69 IN/LV 18.47 CG/IT 13.27 GI/LB 31.19 GI/LV 27.30 GR 25.04 GL 33.17 GL 58.97 GL 38.11 MB/LT 12.20 MC/LT 16.07 MS 15.49 GS/LT 13.67 GI/LV 32.00 GR/LB 3.09 BA 12.38 CG 9.13 GR/LV 11.77 GI/LV 39.44 GM/IT 8.16 GS/ST 10.25 GM 9.97 GM/AJ 9.23 IN 21.28 GR 13.06 MS 11.24 GR 28.71 GR/VL 40.71 SC/SV 41.28 FO 28.72 GR/MG 28.91 SC/SV 14.78 BA 6.18 GR/GW 15.13 GI/LV 12.85 BA 19.48 GR/LG 26.02 GR/MB 29.08 AG 12.74 GR/LB 9.26 GL 22.14 FS 6.63 DB 9.82 AA 16.87 GR 166.61 SC/SG 60.07 GR/MG 49.31 GR 22.00 SC/SG 21.80 GR/VL 57.79 GI/LV 13.27 GR/MG 13.12 MB/IT 14.19 GS/IT 13.13 MY/LT 13.99 GS/ST 11.83 FO 24.12 SC/SV 25.27 FL 12.00 SC/SG 12.67

Overall 3 4 3 3 2 3 1 1 2 3 2 1 1 1 3 3 3 3 3 3 3 1 1 2 2 3 3 3 3 5 3 ▼3 ▲1 ▼4 4 1 2 2 2 3 1 ▼5 4 4 1 3 3 3 5 2 2 3 2 4 3 2 4 1 3 3 3 3 3 3 3 4 3 2 4 3 4 2 ▲3 2 5

5 Yr. Growth Risk Persistence YTD 4 5 3 2 1 2 2 3 4 2 ▲ 1 3 3 3 3 ▼ 4 2 2 2 2 3 3 4 4 3 ▲ 3 3 3 2 4 1 2 2 2 2 1 2 1 3 4 3 3 2 3 4 3 3 2 3 2 2 3 3 5 3 3 3 3 1 2 3 3 4 4 3 2 5 2 3 ▲ 2 1 3 3 1 5

AM-BJ

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 7

▲

▲

▼

2 2 3 5 4 2 3 1 2 3 3 1 1 3 2 2 3 4 3 3 2 1 1 1 1 2 3 3 3 4 4 3 3 4 3 3 3 3 3 3 3 4 4 3 1 3 2 5 5 2 4 3 3 3 4 1 3 2 4 4 2 3 1 3 3 3 2 4 4 4 5 1 3 4 3

-10.4 0.9 -6.2 -6.5 -3.5 -0.3 -4.2 -3.6 4.2 0.1 -5.2 -4.0 -3.6 -3.2 -1.5 0.5 -4.1 -0.3 -5.4 -3.9 -7.6 -3.9 -3.3 -8.2 0.2 -0.5 0.2 1.7 -4.5 -11.8 -3.2 -0.5 -2.9 -5.4 -6.3 0.6 -0.3 -1.4 -2.6 -4.9 0.5 -7.6 -5.4 -9.7 -6.6 -7.3 3.2 -2.5 -5.1 -6.4 -2.9 -5.0 -2.1 -10.4 -6.4 -3.8 -6.2 2.3 -1.3 -5.1 -6.1 -4.2 -7.8 -9.3 -6.6 -7.4 -10.4 0.8 -0.3 0.5 -2.7 -5.2 1.4 -0.5 -18.0

Annualized 3 Mos 3.6 2.1 2.7 -1.0 -1.0 -1.2 1.1 3.4 1.7 -1.6 -0.9 3.8 2.5 2.7 -2.6 2.4 -0.2 -1.6 -0.5 0.5 0.4 1.9 4.4 0.7 -1.2 -1.5 -1.2 -0.4 0.1 -1.3 0.9 -1.5 4.6 -0.4 -6.6 -0.2 -1.1 -1.6 3.5 4.2 -0.7 -2.7 -1.5 -4.4 4.7 2.5 5.1 5.2 6.8 -1.3 4.2 7.0 3.8 1.2 2.0 3.9 0.9 0.4 1.7 1.0 1.2 1.7 -1.5 0.0 0.9 -1.1 4.3 -1.2 -1.2 -1.6 -3.0 3.6 5.3 0.3 -6.4

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-12.3 -0.9 -9.0 -10.9 -6.4 -1.2 -8.4 -7.6 4.1 -0.4 -8.6 -8.3 -7.4 -8.0 -2.8 -2.7 -9.2 0.6 -9.7 -8.7 -13.9 -8.5 -5.6 -16.1 0.4 -0.9 -0.3 3.6 -9.7 -20.2 -5.8 0.4 -5.0 -11.1 -5.6 2.0 1.9 -0.5 -9.2 -11.2 1.4 -16.5 -12.0 -16.2 -11.5 -12.2 -3.2 -5.9 -10.6 -9.8 -3.4 -7.1 -7.6 -21.4 -8.0 -9.4 -16.6 4.5 -5.2 -9.7 -10.7 -9.8 -16.1 -13.9 -10.3 -16.3 -14.6 1.8 0.7 1.3 -2.5 -12.7 -4.7 -0.1 -25.3

16.4 3.2 10.6 7.2 6.9 3.1 10.0 17.5 6.0 3.0 7.7 19.7 14.9 12.5 2.4 5.4 6.5 3.0 8.6 7.5 12.7 16.0 28.1 17.1 2.9 2.3 2.0 4.0 7.6 4.2 7.7 3.2 11.0 3.9 0.9 4.1 3.9 3.2 12.1 7.9 2.8 5.3 3.7 0.7 19.0 12.8 10.7 4.7 0.0 9.5 7.9 10.6 13.4 4.9 6.6 13.5 4.0 5.2 7.8 8.1 12.2 9.1 14.4 8.6 9.7 4.4 15.8 2.4 2.2 1.8 0.6 14.6 8.0 6.4 -2.3

18.2 6.3 11.2 9.2 9.1 4.4 12.7 21.0 8.0 3.8 9.9 22.0 16.4 13.9 3.8 7.4 9.9 2.6 11.0 10.0 14.2 18.2 28.4 21.3 3.5 3.2 2.8 3.3 10.3 5.6 8.9 3.4 13.3 6.1 1.2 3.1 3.3 2.5 13.9 11.9 3.0 10.6 9.4 8.8 20.5 14.5 16.1 5.2 2.9 13.0 6.6 9.0 17.0 10.4 6.8 19.0 10.2 5.2 9.5 10.4 16.6 15.0 22.5 14.0 12.3 9.0 16.9 2.6 3.0 2.2 0.9 17.6 15.4 7.1 6.0

9.1 3.3 5.8 6.7 7.2 5.1 8.5 11.9 6.9 5.4 6.8 10.2 8.2 9.6 4.1 5.3 6.7 4.4 6.4 5.9 5.5 9.7 — 7.9 4.5 4.4 4.0 4.9 5.5 -8.5 4.7 5.3 3.3 5.6 3.5 4.3 4.8 3.7 3.1 2.9 4.2 5.0 7.5 7.3 11.2 13.0 10.8 4.1 1.9 3.8 3.9 3.2 10.9 — 4.0 6.8 — 6.3 4.6 3.7 5.7 10.2 9.2 9.1 5.4 3.2 6.6 3.8 4.5 3.6 3.2 7.6 6.5 6.1 11.5

0.0 6.4 0.0 1.1 2.6 4.4 3.2 2.3 4.8 5.7 1.9 1.8 2.1 1.0 4.3 6.2 3.5 4.0 1.9 2.1 0.8 1.8 1.8 1.7 3.7 3.7 3.6 3.7 2.0 0.0 1.8 4.8 0.2 1.2 5.6 4.8 5.0 4.9 2.3 0.3 4.0 0.0 0.5 0.3 0.6 0.0 0.0 1.6 0.1 1.3 1.3 0.2 0.0 0.0 0.0 2.2 1.9 5.2 2.4 1.9 0.0 0.0 0.0 0.0 0.6 1.2 0.0 2.5 2.2 1.4 2.0 1.6 0.2 4.9 0.0

11.1 -1.6 4.0 -4.6 -0.8 -0.3 -0.4 5.8 9.4 0.2 -0.9 6.6 2.2 2.0 -3.9 -3.1 -6.3 2.2 -4.5 -6.4 -2.2 4.8 18.3 -1.9 0.4 -1.6 -0.6 5.9 -5.8 -15.0 -1.3 2.4 1.0 -7.8 -5.2 4.4 3.7 1.6 1.0 1.7 2.7 -11.7 -12.7 -16.9 4.2 2.4 -8.6 -1.4 -4.8 -4.8 9.1 11.0 4.4 -8.8 1.7 -3.5 -20.0 7.4 -2.0 -4.8 -2.7 -2.8 -4.1 -4.4 -4.8 -16.4 9.8 3.7 1.3 2.4 -2.4 -4.7 -7.3 2.2 -22.8

Ownership Costs $ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$ $ $ $$$ $$$ $$$ $$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$ $$ $$ $$$ $$$ $ $ $ $ $ $ $ $ $$ $$ $$ $$$ $$ $$ $$ $$ $$ $$ $$ $ $$ $$ $$ $$ $$ $$ $$$ $ $ $ $$ $$ $$ $$ $$ $$$ $$$ $ $ $ $ $$ $$ $ $$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

BL-CA

Page 8

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 1414 511 1414 815 1401 357 1105 I 206 1307 I 957 553 958 I I 586 1505 I I I 1575 I 909 1401 1517 1541 605 I 1591 1592 1592 1592 554 1613 1131 1202 I I 1518 1518 776 512 I 605 358 417 417 1414 1343 910 605 206 314 109 513 I 1171 405 1015 1172 I I 801 1016 959 I 1001 1383 1384 1385 157 1386 1173 I

Fund Name BlackRock Asset Allocation A (PCBAX) BlackRock Aurora A (SSRAX) BlackRock Bal Capital I (MACPX) BlackRock Basic Value I (MABAX) BlackRock Dev Cap Market I (MADCX) BlackRock Equity Dividend B (MBDVX) BlackRock Eurofund B (MBEFX) BlackRock Focus Value I (MAPNX) BlackRock Fundamental Gr B (MBFGX) BlackRock Glbl Allocation B (MBLOX) BlackRock Global Fin Svcs R (MRFNX) BlackRock Global Growth R (MRGWX) BlackRock Global Resources A (SSGRX) BlackRock Global Small Cap B (MBGCX) BlackRock Global Technology B (MBGTX) BlackRock Health Sciences Opps A (SHSAX) BlackRock Healthcare I (MAHCX) BlackRock High Income I (MAHIX) BlackRock High Yield Bond Inst (BHYIX) BlackRock Index Eq Inst (PNIEX) BlackRock Interm Bd II Inst (PNBIX) BlackRock Intl Bond Svc (CIFIX) BlackRock Intl Opp Inv A (BREAX) BlackRock Intl Value I (MAIVX) BlackRock Latin America B (MBLTX) BlackRock Low Duration Inst (BFMSX) BlackRock Mgd Income Inst (PNMIX) BlackRock Mid Cap Growth Eq A (BMGAX) BlackRock Mid Cap Value Eq A (BMCAX) BlackRock Muni Insd I (MAMIX) BlackRock Muni Interm-Trm B (MBMTX) BlackRock Muni Natl I (MANLX) BlackRock Muni Short Term I (MALMX) BlackRock Natural Resources B (MBGRX) BlackRock NY Muni I (MANKX) BlackRock Pacific I (MAPCX) BlackRock Small Cap Growth Eq A (CSGEX) BlackRock Small Cap Val Inv A (PSEIX) BlackRock Small/Mid Growth A (SCGAX) BlackRock Total Return Fd (MAHQX) BlackRock Total Return II I (BFMCX) BlackRock Utilities & Telecomm B1 (MBGUX) BlackRock Value Opportunities I (MASPX) BlackRock World Income I (MAWIX) BNY Hamilton Large Cap Gr Inst (BNLIX) BNY Hamilton Large-Cap Equity A (BNEIX) BNY Mellon Large Cap Stock Fd M (MPLCX) BNY Mellon Mid Cap Stock Fund M (MPMCX) Boston Ptrs Long/Short Equity Inst (BPLSX) Boston Trust Balanced Fund (BTBFX) Brandes Instl Intl Equity Fund (BIIEX) Brandywine Blue Fund (BLUEX) Brandywine Fund (BRWIX) Bridges Investment Fund (BRGIX) Bridgeway Aggressive Investors 1 (BRAGX) Bridgeway Ultra-Small Company (BRUSX) Brown Advisory Interm Bond A (BIATX) Brown Capital Mgmt Balanced (BCBIX) Brown Capital Mgmt Equity (BCEIX) Brown Capital Mgmt Sm Co (BCSIX) Bruce Fund (BRUFX) Buffalo Balanced Fund (BUFBX) Buffalo High Yield Fund (BUFHX) Buffalo Large Cap Fund (BUFEX) Buffalo Small Cap Fund (BUFSX) Buffalo USA Global Fund (BUFGX) Burnham Financial Services A (BURKX) Burnham Fund A (BURHX) Calamos Convertible Fund A (CCVIX) Calamos Global Growth & Income A (CVLOX) Calamos Growth & Income A (CVTRX) Calamos Growth Fund A (CVGRX) Calamos Market Neutral Income A (CVSIX) Caldwell & Orkin Mkt Opportunity (COAGX) California Inv Tr-CA T/F Income Fd (CFNTX)

Inv. Obj./Peer

NAV 5/21/08

BA 15.41 SC/SV 20.37 BA 25.93 GI/LV 28.68 FO/EM 25.24 IN/LV 19.97 EU 15.99 GI/VL 11.97 GR/LG 19.92 AA/GL 19.69 FS 10.62 GL 17.35 EN 76.54 GL 23.99 GL 6.61 HL 27.37 HL 5.86 CH 4.79 CH 7.54 GI/LB 26.76 DB/IT 9.39 IB/FO 12.44 FO 39.90 FO 28.35 FO/LA 72.06 CG/ST 9.84 DB 10.10 GR/MG 12.51 GI/MV 11.63 MB/IS 7.59 MB/IT 10.20 MB/LT 10.12 MB/ST 10.03 EN 79.15 MY/LT 10.61 PB 27.65 SC/SG 21.51 SC/SV 8.65 SC/SG 13.71 CG 11.35 CG 9.50 UT/GL 16.18 SC/SV 19.72 IB/GL 6.64 GR 7.74 IN/LB 13.60 GR 9.57 GR 12.12 BA 15.08 BA 31.20 FO 21.33 GR/GW 34.17 GR/GW 34.65 GI/LG 33.51 AG/GW 53.16 SC/SV 26.08 CG/IT 10.74 FL 15.83 GR 17.81 SC/SG 33.98 FL 348.13 BA 12.21 CH 10.64 GR/LB 20.40 SC 22.18 GL 22.45 FS 16.64 GI/LG 28.90 CV 19.46 CV 10.72 CV 29.91 GR/MG 55.94 CV 12.77 FL 21.54 MC/LT 11.57

Overall 2 3 2 3 1 1 3 ▲3 3 1 4 ▼2 2 2 5 1 3 4 3 3 1 3 1 2 1 2 3 ▼3 3 4 3 3 2 2 3 2 2 4 3 5 3 1 4 ▲2 3 3 3 3 3 2 1 2 3 3 3 4 2 3 5 3 3 1 3 4 ▼5 3 4 3 2 1 3 3 2 2 2

5 Yr. Growth Risk Persistence YTD 2 5 1 2 5 2 ▼ 4 3 3 1 5 4 5 4 5 3 3 5 4 2 2 5 4 3 5 1 3 3 3 4 3 3 1 5 3 3 ▲ 3 3 3 3 3 3 3 5 3 3 3 ▼ 4 2 1 3 3 4 ▼ 3 5 5 2 2 3 4 3 1 3 3 4 3 3 3 2 3 2 4 1 3 3

June 3, 2008

▲

▼

▲

4 3 3 3 1 2 2 3 4 2 2 1 2 2 5 2 3 2 1 4 3 3 1 1 1 3 3 3 2 2 4 2 4 2 2 2 2 3 3 4 3 2 3 2 4 3 4 2 3 3 1 2 2 5 2 3 3 5 5 3 2 3 2 4 3 3 4 4 4 2 4 3 5 3 3

-1.8 -8.3 -1.4 -3.7 -4.1 -2.8 -5.6 -4.0 -5.7 0.2 -5.9 -7.3 15.5 -5.3 -13.9 -8.4 -11.6 -1.7 -0.4 -5.1 1.3 5.9 -2.6 -5.5 7.3 0.2 0.5 -3.2 -4.2 -2.2 0.5 -1.9 0.5 8.6 -0.6 -3.7 -4.8 -5.2 -5.5 -1.3 0.1 -4.1 -7.5 3.1 -7.2 -7.3 -5.5 -3.9 -1.6 -2.0 -5.1 -6.7 -8.3 -2.2 -9.1 -15.6 2.5 -4.1 -6.3 -6.4 -6.1 -1.3 -1.5 -5.1 -7.7 -4.2 -4.4 -5.0 -2.8 -7.3 -5.4 -6.1 -1.2 -6.2 0.9

Annualized 3 Mos 2.4 0.4 2.7 2.0 6.4 2.9 5.2 1.5 4.5 1.9 0.8 3.9 21.0 3.3 2.2 -3.6 -5.3 2.2 1.7 1.0 -0.7 1.9 5.1 4.8 14.2 -1.2 -1.2 6.4 0.3 -2.2 -1.3 -2.1 -0.5 20.6 -1.5 3.6 4.8 3.3 3.1 -2.5 -1.5 3.5 -0.8 0.5 2.4 1.6 1.9 5.2 -0.9 1.9 0.0 3.8 3.9 2.7 3.4 -4.2 0.6 0.8 0.9 3.4 -2.3 4.3 -0.2 3.2 0.1 4.4 -5.7 5.0 1.1 0.3 1.1 6.3 1.0 -4.1 -0.2

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-4.7 9.4 -4.8 -9.0 0.4 -6.1 -9.2 -11.4 -7.6 -1.2 -16.1 -11.0 18.1 -11.5 -25.3 -8.1 -14.0 -5.1 -1.9 -9.7 3.2 7.4 -11.3 -10.7 -0.7 1.1 2.4 -6.3 -8.7 -2.7 1.4 -2.7 0.9 7.7 -0.6 -11.2 -8.5 -10.9 -9.5 -0.5 1.9 -5.3 -14.9 2.5 -8.9 -10.0 -9.8 -8.8 -3.8 -3.3 4.9 -8.2 -10.4 -5.9 -11.4 -25.3 4.6 -7.6 -11.4 -10.0 -14.2 -2.2 -2.9 -10.8 -16.3 -10.2 -8.7 -7.6 -5.0 -11.7 -9.9 -11.3 -1.7 -2.2 1.7

8.9 13.8 8.4 9.1 37.9 13.3 11.2 8.3 9.3 13.8 7.7 22.6 33.1 14.9 1.6 13.1 8.2 5.2 6.8 8.2 4.3 4.1 26.5 14.5 51.2 3.6 3.7 12.8 11.0 1.7 2.4 1.9 2.5 32.1 2.5 16.9 15.3 6.3 12.9 0.5 3.7 17.7 7.4 5.5 8.1 9.1 8.6 14.2 6.1 8.0 19.5 14.5 14.4 5.8 14.7 5.9 4.6 5.2 5.0 16.5 7.2 10.6 4.7 6.8 5.7 8.5 -1.0 6.5 8.7 15.3 9.2 12.9 5.6 9.8 2.7

10.9 18.3 9.7 12.3 36.7 15.2 16.1 11.3 10.3 16.1 15.5 22.6 42.0 18.0 4.7 18.7 9.5 7.4 8.6 10.5 3.7 6.4 29.3 19.9 47.9 2.7 3.6 14.3 16.4 2.8 2.6 3.4 1.8 32.7 3.2 20.5 17.6 13.5 13.4 1.8 3.7 19.8 11.8 9.2 7.0 10.3 9.5 16.4 7.3 8.7 24.8 15.6 15.2 8.6 17.5 15.7 3.8 6.1 6.5 13.7 21.8 13.0 6.0 9.2 15.0 11.0 5.0 7.6 9.0 13.4 10.2 15.1 4.4 5.0 2.7

6.1 11.6 4.0 5.5 12.7 7.2 6.6 7.1 3.1 10.0 — — 20.9 13.4 — — 8.4 3.6 — 3.7 5.6 6.9 19.5 7.9 18.7 4.5 5.5 7.8 5.8 4.4 4.1 4.5 2.9 17.3 4.2 9.9 4.8 5.6 5.6 4.1 5.6 7.9 8.7 4.4 2.2 3.8 2.6 6.1 — 5.2 13.4 7.9 7.4 2.9 16.0 13.7 5.1 1.0 -0.3 8.0 15.5 4.9 4.7 3.8 13.4 5.4 — 3.5 8.0 9.2 10.6 15.2 6.7 5.7 4.1

1.8 0.0 2.6 1.7 0.0 1.0 1.3 1.2 0.0 2.0 0.4 0.5 2.9 0.0 0.0 0.0 0.0 5.5 7.5 2.0 4.0 2.4 2.2 2.1 0.3 3.9 3.8 0.0 0.2 1.9 3.2 2.0 1.3 0.0 4.1 1.5 0.0 2.6 0.0 0.7 3.9 0.6 0.0 2.1 0.4 0.7 1.0 0.3 0.0 1.3 3.2 0.0 0.0 0.6 0.0 0.4 4.1 0.9 0.0 0.0 6.3 2.9 6.3 0.1 0.0 0.4 0.4 0.2 4.6 0.0 1.3 0.0 3.8 1.6 4.2

1.7 9.9 -0.4 -7.6 40.1 2.9 -1.8 -12.2 7.1 10.6 -13.2 15.3 41.8 1.2 -15.5 1.7 -3.5 -6.2 -2.7 -4.8 5.7 13.2 4.5 -1.6 38.5 3.0 4.1 7.9 -7.8 -2.3 2.4 -2.7 2.7 37.7 -1.0 4.4 2.8 -12.3 2.8 -1.2 3.8 6.6 -12.9 7.4 2.7 -2.6 -2.0 0.5 -9.1 5.9 8.2 9.3 5.3 -0.2 4.3 -21.6 7.4 -1.9 -5.3 6.1 -13.8 4.1 -0.7 -7.2 -13.6 -4.5 -14.2 6.1 3.5 2.0 0.1 9.0 2.1 17.8 2.7

Ownership Costs $$$ $$$ $ $ $$ $$$ $$$ $$ $$$ $$$ $$ $$ $$$ $$$ $$$ $$$ $$ $ $ $ $ $$ $$$ $$ $$$ $ $ $$$ $$$ $ $$ $ $ $$$ $ $ $$$ $$$ $$$ $ $ $$$ $ $$ $ $$$ $ $ $$$ $ $$ $$ $$ $ $$ $$ $$ $$ $$ $$ $ $$ $$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 359 816 158 1518 1414 1518 405 I 1592 1214 801 606 606 571 1214 1575 207 816 1016 I 406 406 1415 726 802 201 606 159 I 727 1619 514 1215 160 1016 I 1308 1415 1522 I 1505 1387 1001 555 1550 960 1132 1506 1519 1519 1215 911 I 407 407 I I 1415 1415 816 407 I 407 610 606 I 1613 I 1133 728 1202 1593 1519 1016 515

Fund Name California Inv Tr-Eqty Inc Fd (EQTIX) California Inv Tr-S&P 500 Index Fd (SPFIX) California Inv Tr-S&P MidCp Indx Fd (SPMIX) Calvert Income Fund A (CFICX) Calvert Social Inv Balanced A (CSIFX) Calvert Social Inv Bond A (CSIBX) Calvert Social Inv Equity A (CSIEX) Calvert Social-Index A (CSXAX) Calvert Tax Free Reserve-Lmtd A (CTFLX) Calvert Wld Val Intl Eqty A (CWVGX) Capital Management Mid-Cap Inst (CMEIX) Capital One Cap Appreciation A (CWRSX) Capstone Steward Small-Cap Eq (TRDFX) Century Shares Trust (CENSX) CG Cap Mkts Intl Equity Invts (TIEUX) CG Cap Mkts Intl Fixed Invt (TIFUX) CG Cap Mkts Large Cap Growth (TLGUX) CG Cap Mkts Large Cap Val Eq (TLVUX) CG Cap Mkts Sm Cap Val Eqty (TSVUX) CG Cap Mkts Small Cap Growth (TSGUX) CGM Capital Development (LOMCX) CGM Focus Fund (CGMFX) CGM Mutual Fund (LOMMX) CGM Realty Fund (CGMRX) Chase Growth Fund (CHASX) Chesapeake Aggressive Gr Fund (CPGRX) Chesapeake Growth Fund A (CHEAX) Clipper Fund (CFIMX) Cohen & Steers Equity Income A (CSEIX) Cohen & Steers Realty Shrs (CSRSX) Colorado Bond Shrs Tx-Exmt A (HICOX) Columbia Acorn Fund Z (ACRNX) Columbia Acorn International Fund Z (ACINX) Columbia Acorn Select Fund Z (ACTWX) Columbia Acorn USA Fund Z (AUSAX) Columbia Asset Allocation Fund T (GAAAX) Columbia Asset Allocation II A (PHAAX) Columbia Balanced Z (CBALX) Columbia Bond Fd Z (UMMGX) Columbia CA Tax-Exempt A (CLMPX) Columbia Conservative H Y Z (CMHYX) Columbia Convertible Sec A (PACIX) Columbia Disciplined Value Fund T (GALEX) Columbia Energy & Nat Resrc Fd Z (UMESX) Columbia Fed Securities Fund A (CFSAX) Columbia Global Value A (NVVAX) Columbia Greater China A (NGCAX) Columbia High Yield Opportunity A (COLHX) Columbia Income Fund Z (SRINX) Columbia Intermediate Bond Fund Z (SRBFX) Columbia International Stock Z (CMISX) Columbia International Val A (NIVLX) Columbia Intl Growth Z (UMINX) Columbia Large Cap Core A (NSGAX) Columbia Large Cap Growth Fund T (GAEGX) Columbia Large Cap Index Fund Z (NINDX) Columbia Large Cap Value A (NVLEX) Columbia Liberty Fund A (COLFX) Columbia LifeGoal Bal Gr Z (NBGPX) Columbia LifeGoal Inc & Gr Pr Z (NIPAX) Columbia Marsico Focused Eq A (NFEAX) Columbia Marsico Growth A (NMGIX) Columbia Mid Cap Growth Fund Z (CLSPX) Columbia Mid Cap Val & Restr Z (UMVEX) Columbia Mid Cap Value A (CMUAX) Columbia Multi-Advisor Intl Eq A (NIIAX) Columbia NY Tax-Exempt Fund A (COLNX) Columbia Oregon Interm Muni Bond Z (CMBFX) Columbia Pacific/Asia Fd Z (USPAX) Columbia Real Estate Equity Z (CREEX) Columbia Select Small Cap Z (UMLCX) Columbia Sh-Term Muni Bond A (NSMMX) Columbia Short Term Bond A (NSTRX) Columbia Sm Cap Gr Fund I Z (CMSCX) Columbia Small Cap Core Fund T (SSCEX)

IN GI GR/MG CG BA CG GR OT MB/ST FO GR/MB GR/LB GR/LG FS FO IB/FO GR/LG GI/LV SC/SV SC/SG GR GR BA RE GR AG GR/GW GR/LV RE RE MS SC/SV FO GR SC BA AA BA CG MC/LT CH CV GI/LV EN GS/LT GL PB/NJ CH CG CG/IT FO FO FO GR GR/LG GI GI/LV BA BA GI GR GI GR/MG GR/MV GR FO MY/LT MS/OR PB RE SC/SV MB/ST CG/ST SC SC/SV

NAV 5/21/08 16.57 28.00 22.24 16.19 28.29 15.72 38.08 12.09 9.97 21.25 18.24 15.06 10.97 21.07 14.14 7.83 15.97 11.02 10.67 17.44 29.74 59.08 34.72 33.90 19.85 8.68 14.32 71.28 11.97 63.36 9.42 28.80 43.18 27.91 27.28 14.69 23.17 25.15 9.09 7.45 7.96 15.42 12.53 31.59 10.57 9.56 57.60 4.20 9.12 8.74 17.12 19.80 20.23 14.31 23.54 27.07 12.87 8.30 11.92 10.62 22.63 21.11 26.08 20.82 14.11 16.79 7.38 12.15 10.34 14.08 16.90 10.32 9.87 28.30 14.84

Overall 3 3 3 ▼2 3 1 ▼3 5 3 3 2 3 5 3 1 3 2 ▲2 3 4 2 1 2 1 2 5 3 4 4 ▲3 1 3 1 3 3 ▲2 3 2 2 3 4 3 3 2 3 3 ▼3 4 4 3 ▲2 2 1 3 3 3 3 2 2 2 3 3 2 4 3 1 3 1 3 ▲3 ▼4 2 ▼3 3 3

5 Yr. Growth Risk Persistence YTD 2 2 3 2 1 2 2 3 2 3 3 3 3 2 3 ▲ 4 3 3 3 4 5 5 ▼ 4 5 3 ▲ 4 4 2 ▼ 5 5 1 3 4 3 3 ▼ 2 1 1 3 ▲ 4 4 2 3 5 3 3 5 4 3 2 3 3 3 3 3 2 3 1 ▼ 2 1 ▼ 4 3 4 ▼ 4 3 3 5 3 4 5 4 1 1 4 3

CA-CO

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 9

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3 4 3 2 5 1 4 5 5 2 3 3 5 4 1 3 3 3 2 3 2 2 2 1 3 4 3 5 2 2 1 2 1 2 3 4 5 4 3 2 2 4 2 1 3 2 2 2 3 3 2 2 1 3 3 4 3 4 4 4 3 3 2 3 2 1 2 2 2 2 2 4 4 2 3

-2.7 -5.1 -2.2 -1.1 -3.3 0.0 -3.2 -6.6 0.4 -3.4 -4.6 -7.2 -4.1 -7.1 -4.6 1.2 -3.1 -3.7 -2.4 -9.8 -0.4 3.8 2.5 5.8 -5.6 -10.8 -10.2 -9.1 9.1 -8.7 -0.1 -4.6 -2.7 -5.9 -3.7 -3.1 -3.7 -1.2 0.4 -0.4 -0.8 -2.5 -7.9 10.8 1.7 -4.7 -10.0 -0.9 -0.2 1.0 -1.9 -4.7 -2.7 -6.4 -6.7 -5.1 -5.8 -3.7 -3.0 -1.5 -7.0 -7.8 -4.1 -6.1 -6.1 -4.1 -0.5 0.6 -2.1 5.7 -9.9 1.5 1.1 -8.7 -4.1

Annualized 3 Mos 0.7 0.9 4.3 -1.4 0.1 -0.7 4.0 -0.6 -0.5 6.1 1.6 -0.2 0.8 -0.8 4.5 -1.3 5.3 0.7 1.8 2.4 7.7 12.9 8.4 11.3 2.5 -1.3 -1.9 -4.0 7.9 9.4 -1.0 2.3 7.4 0.7 3.3 1.8 -0.9 1.4 -1.2 -1.6 1.2 1.4 -3.2 20.4 -0.4 -2.4 8.6 1.8 -0.4 -0.1 7.2 0.2 6.5 1.1 2.9 1.0 0.1 1.1 1.5 0.8 2.4 0.6 6.3 2.0 1.5 4.7 -2.2 -1.0 6.1 7.6 -2.2 0.1 -0.2 2.7 1.3

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-8.4 -9.8 -7.2 -0.2 -5.6 1.6 -5.6 -12.3 0.0 -13.7 -8.8 -9.3 -11.4 -8.5 -9.0 7.2 -3.0 2.6 -9.1 -15.0 -9.8 5.2 3.3 0.5 -6.7 -18.4 -13.5 -12.1 -6.0 -10.8 0.6 -10.4 -11.4 -9.9 -8.9 -6.0 -6.7 -2.5 2.3 -0.1 -2.2 -7.3 -13.0 8.8 4.1 -13.6 -26.7 -3.4 -0.6 2.1 -10.2 -8.7 -8.6 -9.9 -10.1 -9.7 -10.2 -6.0 -6.3 -3.1 -12.0 -13.1 -7.7 -15.4 -10.2 -9.7 0.0 1.6 -12.3 -9.4 -16.7 2.5 2.2 -12.8 -11.4

8.0 7.9 10.4 3.8 5.0 4.4 8.5 5.9 0.6 12.8 10.8 8.7 5.3 6.5 15.7 2.0 13.0 13.2 9.6 10.2 19.8 36.4 19.0 32.6 9.5 7.6 11.2 2.8 7.5 11.1 4.7 12.4 23.2 16.5 9.2 7.7 5.6 9.9 3.8 2.7 3.9 7.8 8.3 31.8 3.6 10.3 38.7 4.2 2.5 2.9 15.1 14.5 16.3 9.2 9.8 8.1 7.3 8.0 8.8 6.7 9.7 8.1 17.6 9.4 10.7 17.5 2.4 3.0 15.7 9.3 10.5 3.0 3.5 18.0 8.4

11.7 10.4 14.5 5.4 7.0 5.4 9.3 7.8 0.8 15.9 13.4 10.2 7.8 9.0 19.9 5.9 12.9 14.4 16.0 13.0 24.2 37.1 20.7 38.2 11.3 8.0 14.3 6.4 14.5 19.8 5.6 17.6 28.5 15.7 15.7 9.1 7.7 9.2 3.7 3.5 4.4 9.4 12.0 33.8 3.2 17.0 36.9 6.9 4.0 3.8 17.7 21.5 22.1 10.5 9.2 10.5 12.2 9.1 10.6 7.3 11.4 11.0 15.2 13.4 16.7 19.5 3.4 3.4 20.1 16.3 16.5 2.2 2.5 16.5 13.1

4.2 3.9 9.5 6.9 2.8 5.9 6.3 — 2.3 3.9 6.0 3.9 2.0 5.0 6.7 5.1 3.0 5.5 7.4 2.8 6.3 24.3 7.8 21.9 7.2 -0.5 3.4 7.6 10.5 12.1 5.9 11.6 12.5 — 8.1 3.7 3.8 5.0 5.4 4.8 4.6 7.1 3.9 16.7 4.8 — 17.8 3.0 5.4 5.4 6.7 11.2 5.6 — 2.7 3.6 4.0 3.4 6.4 5.3 6.5 5.6 7.5 10.1 — 7.2 4.8 4.5 9.1 10.7 6.7 3.3 4.1 8.5 8.4

1.7 1.7 0.6 4.8 1.8 4.2 0.0 1.1 2.1 1.0 0.2 0.5 0.1 1.8 1.3 7.5 0.5 5.4 0.8 0.0 0.0 0.1 0.8 0.7 0.2 0.0 0.0 1.0 4.1 2.5 3.3 0.4 0.7 0.0 0.0 2.1 2.0 2.4 3.3 3.6 4.7 2.1 1.0 0.1 3.4 1.5 0.8 5.9 5.1 4.7 3.6 2.6 0.4 0.9 0.0 2.0 1.2 2.1 3.1 3.8 0.0 0.0 0.0 0.5 0.9 1.4 3.6 3.7 0.6 1.2 0.0 2.8 4.1 0.0 0.1

-6.8 -5.0 -3.5 1.9 -2.9 4.6 3.2 -7.7 -1.8 -8.4 0.2 -1.1 -10.6 -3.9 -1.3 10.3 11.6 3.8 -9.7 -5.5 7.3 68.2 38.3 32.6 9.4 -12.3 -1.4 -10.0 -14.4 -15.9 2.9 -3.4 4.2 -4.5 -5.5 -0.7 -5.1 4.2 4.1 0.1 -2.3 -1.3 -13.0 29.7 5.1 -12.2 42.3 -5.5 -1.2 3.2 -3.1 -5.1 0.7 -3.2 2.6 -4.8 -8.7 0.1 0.3 1.5 3.9 1.6 6.3 -9.3 -8.9 3.7 0.2 2.4 6.1 -14.7 -9.3 4.3 4.3 3.0 -9.0

Ownership Costs $ $ $ $$ $$$ $$$ $$$ $$ $$ $$$ $$ $$$ $$ $$ $ $ $ $ $$ $ $$ $ $$ $ $$ $$$ $$$ $ $$$ $ $$ $ $ $ $ $$$ $$$ $ $ $$ $ $$$ $$$ $$ $$$ $$$ $$$ $$$ $ $ $ $$$ $$ $$$ $$$ $ $$$ $$$ $ $ $$$ $$$ $ $$ $$$ $$$ $$ $ $$ $ $$ $ $$ $$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

CO-DR

Page 10

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page I 1203 1541 1593 I I 607 I 1134 1002 607 1575 I 961 1215 408 1002 1017 516 1017 I 1203 360 1388 572 I 207 607 729 1203 1550 I 1416 1506 I 408 1215 361 1593 1575 730 111 1203 1619 1620 1620 1593 112 608 I 1135 1106 I I I 1216 1216 I 1520 I I 1017 1204 408 1002 I 201 1416 362 1344 1520 912 315 207 207

Fund Name Columbia Small Cap Index A (NMSAX) Columbia Small Cap Value I Cl A (CSMIX) Columbia Strategic Income Fund A (COSIX) Columbia Tax-Exempt Fund A (COLTX) Columbia Total Return Bond B (NSFNX) Columbia World Equity Fund A (CGUAX) Commerce Growth Instl (CFGRX) Commerce Mid Cap Growth Instl (CFAGX) Commonwealth Japan Fund (CNJFX) Copley Fund (COPLX) Country Trust Growth Y (CTYGX) Credit Suisse Global Fixed Inc Com (CGFIX) Credit Suisse Global High Yield (RBSFX) Credit Suisse Global Small Cap Com (WVCCX) Credit Suisse Inst Intl Focus Fd (WPIEX) Credit Suisse Large Cap Growth (CUCAX) Credit Suisse Large Cap Value A (WFGIX) Credit Suisse Mid-Cap Core Comm (CUEGX) Credit Suisse Small Cap Core A (WFAGX) Credit Suisse Small Cap Gr Tr (WTSGX) CRM Mid Cap Value Instl (CRIMX) CRM Small Cap Value Inv (CRMSX) Cutler Equity Fund (CALEX) Davis Appreciation & Income A (RPFCX) Davis Financial A (RPFGX) Davis Government Bond B (VRPFX) Davis New York Venture Fund A (NYVTX) Davis Opportunity B (RPFEX) Davis Real Estate A (RPFRX) Delafield Fund Inc (DEFIX) Delaware American Govt Bond A (DEGGX) Delaware American Services Fund B (DASBX) Delaware Balanced A (DELFX) Delaware Delchester Fund A (DETWX) Delaware Diversified Income A (DPDFX) Delaware Growth Opportunities A (DFCIX) Delaware Intl Value Equity A (DEGIX) Delaware Large Cap Value Fund A (DELDX) Delaware Natl High Yield Muni A (CXHYX) Delaware Pooled Tr-Intl Fixed Inc (DPIFX) Delaware REIT A (DPREX) Delaware Select Growth A (DVEAX) Delaware Small Cap Value A (DEVLX) Delaware Tax Free Colorado A (VCTFX) Delaware Tax Free Minnesota A (DEFFX) Delaware Tax Free Pennsylvania A (DELIX) Delaware Tax Free USA A (DMTFX) Delaware Trend Fund A (DELTX) Delaware US Growth A (DUGAX) Delaware Value Fund A (DDVAX) DFA Asia Pacific Small Company (DFRSX) DFA Continental Small Company (DFCSX) DFA Emerging Markets (DFEMX) DFA Five-Year Government (DFFGX) DFA International Small Cap Value (DISVX) DFA International Value I (DFIVX) DFA Intl High Book To Mkt (DFHBX) DFA Large Cap International (DFALX) DFA One-Yr Fixed Income (DFIHX) DFA Real Estate Securities Port (DFREX) DFA Two-Year Global Fixed Income (DFGFX) DFA U.S Micro Cap Portfolio (DFSCX) DFA U.S Small Cap Portfolio (DFSTX) DFA US Large Cap Val Portfolio (DFLVX) DFA US Large Company (DFLCX) Diamond Hill Strategic Income A (DSIAX) Diversified Inv Aggress Equity (DVAEX) Diversified Inv Balanced (DVIBX) Diversified Inv Value & Income (DVEIX) Dodge & Cox Balanced Fund (DODBX) Dodge & Cox Income Fund (DODIX) Dodge & Cox International Stock (DODFX) Dodge & Cox Stock Fund (DODGX) Domini Social Equity (DSEFX) Dreyfus Appreciation Fund (DGAGX)

Inv. Obj./Peer

NAV 5/21/08

SC 18.77 SC/SV 42.14 DB 5.97 MB/LT 13.34 DB 9.50 UT/GL 14.15 GR/LG 25.74 AG/MG 32.10 PB/JP 3.45 GI/VL 47.13 GR/LB 23.32 IB/GL 10.41 CH 9.48 GL 21.91 FO 15.56 GR/LG 18.05 GI/LV 13.98 SC/SG 37.34 SC/SV 12.60 SC 15.02 GR/MV 29.46 SC/SV 20.25 IN/LV 12.07 CV 27.37 FS 36.83 GM 5.62 GR/LV 38.74 GR/MB 19.81 RE 30.93 SC/SV 24.48 GS/IT 7.47 FS 15.05 BA 17.18 CH 3.14 DB 8.88 GR/GW 21.37 FO 14.67 IN/LV 16.47 MB/HY 9.71 IB 12.31 RE 12.43 AG/GW 28.21 SC/SV 33.17 MS 10.80 MS 12.30 MS 7.91 MB/LT 11.14 AG/SG 15.85 GR 14.15 GI 11.27 PB/NJ 27.03 EU 21.89 FO/EM 32.85 GS/LT 10.25 FO 19.66 FO 23.31 FO 21.19 FO 25.84 CG 10.18 RE 25.14 IB 10.39 SC/SB 12.43 SC/SB 18.36 GR/LV 23.13 GI/LB 40.93 FL 10.47 AG 16.21 BA 14.45 IN 21.31 BA 76.56 CG 12.63 FO 44.49 GI/LV 125.13 GR/LB 30.68 GR/LB 43.55

Overall 4 3 1 3 5 3 4 4 5 4 4 2 3 4 1 4 3 4 4 5 2 3 ▲2 3 4 ▼3 2 4 ▲3 ▲2 3 4 3 3 1 4 3 4 3 3 3 3 ▲3 2 2 2 3 4 3 3 2 ▲2 1 ▼3 3 2 2 1 2 ▲3 2 4 4 3 3 3 3 3 4 3 1 2 3 5 2

5 Yr. Growth Risk Persistence YTD 3 3 2 4 2 3 3 3 3 4 3 4 4 4 3 3 2 3 3 4 3 3 2 ▼ 2 3 1 2 3 4 3 3 4 1 4 ▼ 3 4 3 2 3 5 5 ▲ 3 3 3 ▲ 3 3 3 4 3 2 5 4 5 1 3 3 3 3 1 5 1 4 4 3 2 1 4 1 3 1 2 3 2 3 2

June 3, 2008

3 2 1 2 5 2 5 3 4 3 5 2 1 2 1 5 3 3 3 4 2 3 3 3 3 4 3 3 2 2 3 3 4 1 1 3 2 3 2 2 2 3 3 1 1 1 2 3 3 3 1 1 1 3 1 1 1 1 3 2 3 3 3 2 4 5 3 5 3 4 3 1 2 5 3

-3.7 -3.7 2.2 -0.7 -0.1 -3.9 -7.5 -7.5 -4.7 -3.4 -3.2 4.2 0.7 -7.2 -3.8 -8.8 -7.0 -4.5 -6.3 -5.6 -3.1 -1.7 -2.0 -2.0 -8.4 1.5 -3.8 -11.3 2.6 -2.5 1.5 -8.8 -3.9 0.6 2.2 -7.9 -4.8 -6.5 -1.0 7.5 7.4 -7.2 0.1 0.5 0.9 0.0 -0.4 -11.7 -7.9 -6.2 -5.7 -2.5 -2.3 -0.4 -2.0 -4.1 -4.2 -3.1 1.0 8.3 1.0 -8.4 -6.7 -1.9 -5.0 2.4 -12.9 -3.6 -4.9 -3.6 1.7 -4.0 -6.4 -4.6 -3.8

Annualized 3 Mos 1.2 0.0 1.7 -2.0 -0.9 4.1 -0.1 0.8 -0.6 1.3 1.4 1.5 3.2 2.3 6.0 0.0 -2.2 4.2 1.4 1.8 2.5 2.0 2.6 1.4 -4.7 0.2 0.7 -3.5 4.8 2.2 -0.2 0.5 -1.7 2.8 0.5 1.7 1.7 -1.9 -1.9 2.7 9.2 -1.0 3.9 -0.7 -0.8 -1.2 -1.6 -1.6 0.1 -2.0 4.8 8.8 7.1 -0.7 4.9 4.3 4.3 4.8 0.6 8.3 0.6 -0.8 0.2 2.0 1.0 -2.2 0.0 -0.4 -0.4 -0.5 0.5 4.4 -1.1 3.6 2.8

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-11.7 -10.0 2.2 -0.2 0.2 -10.3 -11.3 -10.6 -10.5 -23.8 -6.6 5.7 -1.7 -17.5 -7.9 -12.2 -11.5 -8.1 -13.7 -13.0 -6.2 -6.9 -4.7 -8.2 -17.9 2.8 -8.3 -18.1 -9.5 -7.0 2.6 -18.4 -7.6 -2.3 2.8 -12.2 -11.6 -13.0 -2.6 10.0 -6.7 -13.8 -8.5 0.3 1.0 0.0 -0.9 -18.2 -10.9 -12.6 -13.5 -10.7 -9.1 0.4 -12.8 -11.9 -11.9 -8.8 1.8 -8.5 1.8 -16.1 -13.9 -7.7 -9.6 -2.8 -15.6 -7.5 -11.0 -6.8 2.4 -8.1 -11.3 -8.9 -6.2

8.3 8.9 5.8 2.9 2.2 11.9 7.0 10.0 3.5 2.4 4.4 4.3 6.5 6.6 16.6 5.1 7.2 7.1 5.3 2.4 12.0 9.1 8.5 7.4 5.5 3.1 9.4 4.5 11.2 11.7 3.2 6.6 5.2 6.8 5.7 9.1 11.6 5.9 2.5 5.0 10.2 10.1 7.0 3.1 3.2 2.8 2.2 8.7 9.0 6.1 26.5 22.1 31.3 3.3 15.1 18.9 18.9 16.5 4.2 11.1 4.1 6.7 7.9 9.3 8.2 2.9 12.1 5.3 7.1 6.5 4.4 17.5 7.6 6.0 7.8

14.3 15.2 7.2 3.8 2.4 13.6 7.9 12.5 3.8 6.9 7.6 5.9 9.3 14.4 18.8 7.0 10.6 12.2 11.1 8.3 18.1 14.9 10.5 10.3 10.6 1.5 13.2 10.2 17.9 16.0 3.2 11.8 6.7 9.1 7.5 11.9 17.6 9.0 4.2 8.0 16.9 10.3 13.7 3.5 3.9 3.5 3.5 9.3 7.7 10.5 31.3 29.8 33.4 2.6 26.8 25.2 25.2 20.1 3.0 18.0 2.7 14.1 13.8 14.3 10.5 5.0 12.1 6.8 10.4 10.4 4.1 26.1 13.6 8.2 9.1

6.1 7.3 5.7 4.6 3.9 3.6 0.7 1.9 -1.9 3.1 4.4 6.3 4.5 6.4 5.6 1.6 5.6 1.6 7.0 0.6 13.7 7.8 4.0 5.5 5.5 2.9 6.4 5.3 10.6 10.4 4.8 — 0.9 1.5 8.3 6.2 7.0 2.9 4.1 7.0 11.6 3.6 7.4 4.1 4.6 4.2 4.2 6.3 1.5 — 17.3 13.4 14.7 4.8 14.0 10.7 10.7 6.9 4.0 12.1 4.1 8.3 7.0 7.0 3.8 — 4.7 2.9 5.0 8.6 6.0 — 9.5 2.6 3.9

0.7 0.3 5.7 3.9 3.6 1.4 0.2 0.0 0.0 0.0 0.7 5.6 9.1 0.0 2.2 0.0 1.2 0.0 0.0 0.0 0.7 0.2 1.4 2.0 0.2 2.8 1.0 0.0 1.3 0.6 4.2 0.0 2.7 7.0 4.9 0.0 1.3 1.8 4.4 5.1 2.1 0.0 0.0 3.7 3.7 3.8 3.7 0.0 0.0 1.9 3.0 1.4 1.8 4.5 2.4 2.9 3.0 2.6 4.7 1.9 3.7 1.8 1.3 1.3 2.0 6.2 0.0 2.3 1.8 2.7 5.1 2.8 1.5 0.3 1.4

-9.3 -10.3 4.8 0.1 0.6 -3.9 -5.0 -7.7 -10.2 -20.6 -9.2 10.2 -2.0 -16.8 3.6 -5.5 -10.2 -1.5 -10.8 -9.9 -1.9 -9.2 -2.2 -6.0 -13.9 4.8 -3.9 -14.8 -16.7 -5.9 4.5 -13.6 -7.4 -3.1 5.4 -5.5 -6.6 -13.7 -3.3 16.5 -11.5 0.7 -12.0 0.8 1.7 0.8 -1.1 -7.9 2.9 -13.3 11.4 -7.6 19.7 2.9 -10.2 -4.2 -4.2 0.8 4.4 -14.8 4.5 -15.9 -13.0 -10.3 -4.7 -5.9 4.9 -5.3 -11.8 -5.9 4.4 -1.1 -10.9 -9.0 -0.5

Ownership Costs $ $$$ $$$ $$ $$ $$$ $$ $$ $$$ $$ $$ $ $ $$ $ $$ $$$ $$ $$$ $ $ $$ $$ $$$ $$$ $$$ $$ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $ $$$ $$$ $$$ $$ $$$ $$$ $$ $$$ $$$ $$$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $ $$ $ $ $ $ $ $$ $

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 1002 1565 1585 816 1017 1018 1003 113 1216 962 817 1614 817 408 1594 1520 1594 1309 I 608 208 1594 1614 1416 1345 409 1620 1565 1136 I 913 I 802 I 1506 1620 1621 608 1621 1594 409 1621 1614 1621 817 1595 1521 I 745 409 I 1003 1550 1204 1018 1550 1551 I I 1576 1551 1506 I 1402 1595 I 1521 409 I I 1416 1003 1585 777 1521

Fund Name Dreyfus Basic S&P 500 Stock Idx (DSPIX) Dreyfus Basic US Mortgage Sec Fd (DIGFX) Dreyfus CA AMT-Free Muni Z (DRCAX) Dreyfus Disciplined Stock Fund (DDSTX) Dreyfus Emerging Leaders Fund (DRELX) Dreyfus Founders Discovery Fund F (FDISX) Dreyfus Founders Equity Growth F (FRMUX) Dreyfus Founders Mid-Cap Growth F (FRSPX) Dreyfus Founders Passport Fd F (FPSSX) Dreyfus Founders WW Growth F (FWWGX) Dreyfus Fund (DREVX) Dreyfus General NY Muni Bond (GNYMX) Dreyfus Growth & Income (DGRIX) Dreyfus Growth Opportunity (DREQX) Dreyfus Infl Adjusted Sec Inst (DIASX) Dreyfus Interm Term Income Inv (DRITX) Dreyfus Intermediate Muni Bd (DITEX) Dreyfus Lifetime Gr & Inc Inv (DGIIX) Dreyfus Lifetime Growth Inv (DLGIX) Dreyfus MidCap Index Fund (PESPX) Dreyfus Midcap Value (DMCVX) Dreyfus Municipal Bond (DRTAX) Dreyfus NY Tax Exempt Bond (DRNYX) Dreyfus Premier Balanced Fd I (PDBLX) Dreyfus Premier Balanced Opport J (THPBX) Dreyfus Premier Core Value A (DCVIX) Dreyfus Premier CT Muni A (PSCTX) Dreyfus Premier GNMA Fund Z (DRGMX) Dreyfus Premier Greater China A (DPCAX) Dreyfus Premier Growth & Inc A (PEGAX) Dreyfus Premier Intl Growth A (DRGLX) Dreyfus Premier Intl Value A (DVLAX) Dreyfus Premier Intrinsic Value T (BLCAX) Dreyfus Premier Large Co Stock I (DEIRX) Dreyfus Premier Lmtd Term Hi Yld A (DPLTX) Dreyfus Premier MD Muni A (PSMDX) Dreyfus Premier MI Muni A (PSMIX) Dreyfus Premier Mid-cap Stock I (DDMRX) Dreyfus Premier MN Muni A (PSMNX) Dreyfus Premier Muni Bond A (PTEBX) Dreyfus Premier New Leaders A (DNLDX) Dreyfus Premier NJ Muni Bond A (DRNJX) Dreyfus Premier NY AMT-Free Muni A (PSNYX) Dreyfus Premier OH Muni A (PSOHX) Dreyfus Premier S & P STARS T (BSPAX) Dreyfus Premier Sh-Intmd Muni Bd D (DSIBX) Dreyfus Premier Short Term Inc D (DSTIX) Dreyfus Premier Strategic Value A (DAGVX) Dreyfus Premier Tech Growth A (DTGRX) Dreyfus Premier Third Century Z (DRTHX) Dreyfus Premier Wrldwde Growth A (PGROX) Dreyfus S&P 500 Index Fund (PEOPX) Dreyfus Short-Interm Govt (DSIGX) Dreyfus Small Cap Stock Index (DISSX) Dreyfus Small Company Value (DSCVX) Dreyfus US Treasury Interm Term (DRGIX) Dreyfus US Treasury Long Term (DRGBX) Dryden Active Allocation Z (PABFX) Dryden CA Income A (PBCAX) Dryden Glb Total Return A (GTRAX) Dryden Govt Income B (PBGPX) Dryden High Yield B (PBHYX) Dryden Insured Muni B (PMINX) Dryden Internatl Val A (PISAX) Dryden Muni High Inc B (PMHYX) Dryden National Muni B (PBHMX) Dryden Short-Term Corp Bd A (PBSMX) Dryden Stock Index Z (PSIFX) Dryden Total Return Bond A (PDBAX) Dupree KY Tax Free Short-to-Med (KYSMX) DWS Balanced Fund A (KTRAX) DWS Blue Chip A (KBCAX) DWS California Tax-Free A (KCTAX) DWS Communications Fund A (TISHX) DWS Core Fixed Income Inst (MFINX)

GI GM MC/LT GI/LB SC/SB SC/SG GI/LB AG/MG FO GL GI/LB MY/LT GI/LV GR/LB MB CG/IT MB/IT AA AA GR/MB GR/MV MB/LT MY/LT BA BA GR/LV MS GM PB/NJ GI FO FO GR/LV GI/LB CH/IT MS MS GR/MB MS MB/LT GR MS MY/LT MS GI MB/IT CG/ST AG TC GR GL GI/LB GS/IT SC SC/SV GS/IT GS/LT BA MC/LT IB GS/LT CH MB/IS FO MB/HY MB/LT CG/ST GR/LB DB MS BA GI/LB MC/LT UT CG

NAV 5/21/08 28.90 14.93 14.50 32.63 24.67 30.99 5.92 6.14 24.61 17.94 9.81 18.94 14.88 8.76 12.64 12.41 13.19 15.90 15.58 28.73 27.93 11.41 14.54 14.02 17.45 28.66 11.67 14.55 39.74 18.31 14.43 14.47 17.52 26.01 6.82 11.96 14.70 12.79 15.08 12.65 37.86 12.78 14.36 12.30 30.48 12.71 10.49 31.12 25.84 9.71 45.38 39.40 10.60 20.78 20.56 12.96 16.61 12.70 10.51 7.11 8.90 5.43 10.57 25.98 9.89 14.70 10.92 31.05 12.60 5.24 9.71 17.09 7.36 19.35 10.48

Overall 3 2 3 3 5 5 ▼4 3 3 2 3 ▲1 3 2 ▲3 3 1 3 4 3 3 3 2 2 3 3 1 2 3 3 ▲1 3 5 3 4 2 3 4 1 3 4 4 3 3 4 2 3 2 4 4 ▲1 4 2 4 4 2 3 3 3 3 4 4 4 ▼2 3 3 2 3 3 2 3 4 2 4 ▼3

5 Yr. Growth Risk Persistence YTD 2 2 4 2 4 4 3 4 4 3 2 3 3 3 5 ▲ 2 3 1 3 3 3 3 4 2 1 2 3 2 5 3 3 3 3 2 4 3 ▲ 3 3 3 3 3 3 4 4 3 1 1 3 4 3 2 2 1 3 4 3 5 1 ▲ 3 5 2 4 4 3 3 3 2 2 2 2 1 3 4 4 2

DR-DW

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 11

▲

▲

4 3 1 3 3 4 4 2 2 2 3 3 4 3 4 3 3 5 4 3 3 2 2 4 5 3 2 3 2 3 1 2 4 3 2 1 2 3 1 1 2 3 3 2 3 4 4 2 4 5 3 4 3 3 3 3 2 4 2 3 4 2 4 1 2 3 3 4 3 4 5 3 1 2 3

-5.1 1.6 0.2 -5.1 -5.4 -7.2 -7.1 -7.5 -6.4 -6.8 -5.5 0.2 -6.9 -4.9 2.1 -0.6 0.5 -3.4 -6.7 -1.9 -2.6 -1.8 0.1 -4.4 -2.2 -3.9 0.3 1.7 -17.0 -7.2 -2.6 -5.0 -8.5 -5.0 -1.6 -0.2 0.1 -2.1 0.7 0.3 -3.5 -0.9 0.5 -0.3 -8.8 1.3 -0.7 -3.4 -9.5 -5.8 -4.0 -5.2 2.3 -3.9 -5.1 2.5 1.5 -3.8 -0.1 4.8 0.9 -1.0 -0.2 -5.9 -0.9 -0.1 1.4 -5.1 0.8 1.1 -2.9 -6.9 -0.2 -16.0 -1.4

Annualized 3 Mos 1.0 -0.7 -0.9 1.9 1.0 2.2 1.6 3.7 6.2 3.2 1.4 -1.1 1.6 3.2 -1.2 -2.1 -1.0 0.4 0.7 4.6 1.5 -2.7 -0.9 0.6 1.5 2.0 -0.8 -0.3 1.2 1.5 7.3 3.2 -7.7 2.0 0.7 -1.4 -1.9 3.8 -0.6 -1.0 3.5 -1.9 -0.6 -1.5 -0.4 0.1 -1.9 2.7 3.4 2.3 4.1 0.9 0.7 1.1 0.3 -0.1 -1.2 -0.2 -1.4 2.3 -0.6 1.2 -0.9 3.9 -2.2 -1.2 0.0 1.0 0.2 -0.7 1.1 -1.0 -1.6 -8.9 -2.3

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-9.7 3.1 0.6 -9.6 -15.0 -12.5 -11.4 -10.3 -18.6 -11.8 -8.6 0.7 -10.8 -8.1 5.1 0.0 1.1 -5.7 -11.2 -7.0 -4.5 -1.7 0.9 -6.9 -4.7 -8.8 0.7 3.6 -28.9 -11.7 -9.8 -9.3 -16.4 -9.5 -4.4 -0.1 0.0 -8.2 1.1 0.5 -12.1 -1.3 0.9 0.1 -14.3 2.1 -0.5 -7.8 -15.2 -8.9 -5.4 -9.8 4.0 -11.7 -11.1 5.4 6.0 -6.3 -0.1 4.9 1.8 -3.8 0.5 -12.6 -2.3 0.2 2.6 -9.7 1.4 2.4 -5.2 -12.6 0.7 -27.5 -0.1

8.1 4.1 3.0 9.4 2.3 7.0 8.0 16.5 13.5 12.5 9.3 2.6 7.5 9.6 0.9 3.4 2.8 7.0 8.6 10.8 10.7 2.1 3.0 6.7 5.0 9.0 2.7 4.1 37.9 9.6 16.7 11.3 2.0 9.5 2.9 2.5 2.7 7.3 3.6 3.1 7.8 1.4 2.5 2.5 6.4 3.0 2.6 11.6 7.1 6.6 11.3 7.7 4.0 8.3 10.1 5.0 5.1 6.4 2.4 3.9 2.5 1.7 1.7 18.0 2.6 2.1 3.7 7.9 3.5 2.2 5.9 6.7 3.1 7.1 3.3

10.4 4.0 3.6 10.2 8.9 9.5 9.6 17.7 23.3 15.2 10.2 2.8 9.1 9.5 2.7 3.5 2.9 7.9 10.6 14.7 15.8 3.0 3.1 7.2 7.2 11.8 3.2 3.5 34.5 10.0 20.7 17.8 7.3 10.5 5.8 3.1 3.1 11.0 3.9 3.8 12.6 2.5 2.8 3.1 11.9 2.3 2.1 15.3 8.7 7.9 13.0 10.1 2.8 14.2 17.3 3.7 4.9 9.4 3.2 5.4 2.1 4.5 2.1 19.2 3.9 2.7 3.0 10.3 3.7 2.0 6.6 11.1 3.5 11.8 3.7

3.7 5.3 4.7 2.8 5.1 4.6 0.1 3.0 8.0 2.3 2.7 4.1 2.4 2.0 — 5.5 3.8 4.2 3.4 9.1 9.2 3.6 4.4 2.8 6.2 4.9 4.3 4.9 — 2.5 3.3 7.3 4.2 3.0 2.1 3.8 4.2 5.5 4.7 3.6 6.4 3.9 4.2 4.1 4.3 3.1 3.7 7.6 5.9 0.5 4.6 3.4 4.2 7.0 6.6 5.1 5.8 5.2 4.6 4.5 4.2 2.1 3.9 6.3 3.7 4.0 4.6 3.6 4.6 3.3 2.9 2.8 4.6 0.5 5.7

1.9 4.5 4.2 0.7 0.0 0.0 0.3 0.0 0.8 0.0 1.6 4.0 0.6 0.5 3.3 3.0 3.8 2.8 1.7 1.1 0.2 3.0 4.0 2.6 2.3 1.5 3.9 4.4 0.0 0.0 0.9 1.6 1.1 0.6 0.0 3.9 4.2 0.0 4.1 4.3 0.4 0.0 3.4 4.1 0.0 3.2 4.7 0.8 0.0 0.4 1.5 1.6 3.5 0.6 0.4 3.8 4.3 2.3 4.3 5.2 2.9 0.6 3.4 1.2 4.2 3.7 3.6 1.8 4.2 3.0 2.8 0.8 4.3 0.0 5.4

-4.8 5.3 1.1 -2.6 -20.2 -3.5 -3.5 -4.5 -14.4 -1.9 -3.0 1.2 -3.1 2.3 8.3 0.9 2.2 -1.9 -7.0 -3.1 -7.1 -1.7 1.6 0.0 -0.3 -6.5 1.5 5.8 13.1 -3.8 -0.4 -6.4 -17.5 -2.5 -8.0 0.7 0.5 -8.3 1.9 0.3 -14.3 -2.9 0.7 0.7 -11.2 3.8 0.5 -4.3 -0.1 -3.7 0.0 -5.1 6.1 -9.3 -7.2 8.9 10.1 -3.8 0.6 10.5 3.7 -7.2 1.1 0.3 -2.7 0.4 4.8 -4.8 3.7 3.9 -2.2 -8.6 1.9 -22.8 2.0

Ownership Costs $ $ $ $ $$ $$ $$ $$ $$ $$ $ $ $ $ $ $ $ $$ $$ $ $$ $ $ $ $ $$$ $$$ $ $$$ $$$ $$$ $$$ $$$ $ $$ $$ $$$ $$ $$$ $$$ $$$ $$ $$ $$$ $$$ $ $ $$$ $$$ $$ $$$ $ $ $ $$ $ $ $ $$ $$$ $$$ $$ $$ $$$ $$ $$ $$ $ $$$ $ $$$ $$$ $$$ $$$ $

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

DW-EQ

Page 12

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 1521 316 1204 1216 1576 410 1107 1576 963 964 1565 I 817 I 1507 1595 1595 1217 914 1137 1003 410 1217 1417 608 363 1310 I 1596 1622 I I 1018 1615 1542 1174 1175 746 1565 1417 609 609 1108 1596 1138 1417 I 778 I 1566 1139 915 1507 I 1507 317 609 1596 1615 I 1576 161 208 802 587 1004 1176 1522 1402 1596 208 I 802 1522 1177

Fund Name DWS Core Plus Income Fund S (SCSBX) DWS Dreman High Ret Eqty A (KDHAX) DWS Dreman Small Cap Val A (KDSAX) DWS Emerg Markets Equity S (SEMGX) DWS Emerg Mkts Fix Inc S (SCEMX) DWS Equity Part A (FLEPX) DWS Europe Equity Fund S (SCGEX) DWS Global Bond Fund S (SSTGX) DWS Global Opportunities S (SGSCX) DWS Global Thematic Fund S (SCOBX) DWS GNMA Fund S (SGINX) DWS Gold & Prec Metals S (SCGDX) DWS Growth & Income S (SCDGX) DWS Health Care Fund S (SCHLX) DWS High Income Fund A (KHYAX) DWS High Yield Tax Free S (SHYTX) DWS Interm Tax/AMT Free S (SCMTX) DWS Internatl Fd S (SCINX) DWS Internatl Sel Eqty Inst (MGINX) DWS Japan Equity A (FJEAX) DWS Large Cap Value A (KDCAX) DWS Large Company Growth S (SCQGX) DWS Latin America Fund S (SLAFX) DWS LifeCompass 2015 S (SPBAX) DWS LifeCompass 2020 S (SPGRX) DWS LifeCompass Retirement S (SCPCX) DWS Lifecycle Long Range Inst (BTAMX) DWS Lifecycle Long Range S (BTILX) DWS Managed Muni Bonds S (SCMBX) DWS Mass Tax-Free S (SCMAX) DWS S&P 500 Index Fund S (SCPIX) DWS Short Duration Plus S (DBPIX) DWS Small Cap Value S (SCSUX) DWS State Tax Free Inc-NY A (KNTAX) DWS Strategic Income A (KSTAX) DWS Target 2010 (KRFAX) DWS Target 2014 (KRFEX) DWS Technology Fd A (KTCAX) DWS U.S. Govt Securities A (KUSAX) DWS Value Builder A (FLVBX) E*TRADE Kobren Growth (KOGRX) Eagle Growth Shares (EGRWX) Eastern European Eq Fund A (VEEEX) Eaton Vance AMT-Free Muni I (EVMBX) Eaton Vance Asian Small Co A (EVASX) Eaton Vance Balanced A (EVIFX) Eaton Vance CA Muni B (EVCAX) Eaton Vance Dividend Builder A (EVTMX) Eaton Vance Global Growth A (ETIAX) Eaton Vance Govt Obligation A (EVGOX) Eaton Vance Greater China Gr A (EVCGX) Eaton Vance Greater India B (EMGIX) Eaton Vance High Income Fund B (EVHIX) Eaton Vance High Yield Muni A (ETHYX) Eaton Vance Income Fd of Boston A (EVIBX) Eaton Vance Large Cap Value A (EHSTX) Eaton Vance Multi-Cap Gr Fund A (EVGFX) Eaton Vance National Muni B (EVHMX) Eaton Vance NY Muni B (EVNYX) Eaton Vance Special Equities A (EVSEX) Eaton Vance Strategic Inc B (EVSGX) Eaton Vance Tax-Mgd Growth 1.0 (CAPEX) Eaton Vance Tax-Mgd Growth 1.1 A (ETTGX) Eaton Vance Tax-Mgd SmCap Gr A (ETMGX) Eaton Vance WW Health Sciences A (ETHSX) Edgar Lomax Value Fund (LOMAX) Elfun Diversified Fund (ELDFX) Elfun Income Fund (EINFX) Elfun International Fund (EGLBX) Elfun Tax Exempt Income (ELFTX) Elfun Trusts (ELFNX) Empiric Core Equity Fund A (EMCAX) EquiTrust Series Blue Chip B (FBBLX) EquiTrust Series High Grade Bond B (FBHBX) EquiTrust Series Managed B (FBMGX)

Inv. Obj./Peer CG GI/LV SC/SV FO/EM IB/FO GR EU IB/GL GL GL GM PM GI/LB HL CH MB/HY MB/IT FO FO PB/JP GI/LV GR/LG FO/LA BA AA IN AA AA MB/LT MS GI DB SC/SV MY/LT DB FL FL TC GM BA GR GR EU MB/LT PB BA MC/LT UT TC/GL GM PB/NJ FO/EM CH CH CH GI/LV GR/LG MB/LT MY/LT SC/SG IB/ST GR/LG GR GR HL GI FL CG FO MB/LT GR/LB GI GR/LB CG FL

NAV 5/21/08 12.32 42.80 34.28 23.90 12.00 23.78 34.01 10.32 41.54 28.05 15.00 24.11 17.10 24.20 4.97 12.54 11.14 68.76 10.40 11.94 21.17 30.17 82.46 12.01 14.77 12.21 10.78 10.32 8.93 14.30 18.47 9.74 16.77 10.67 4.66 8.48 7.69 12.22 8.55 13.58 14.04 11.15 25.78 10.42 25.83 7.94 9.53 14.30 25.15 7.24 28.84 22.89 4.81 9.43 6.04 22.32 10.87 10.84 10.15 17.09 7.42 581.05 25.56 16.44 9.69 11.45 19.39 10.98 27.99 11.55 47.15 32.68 43.77 10.20 14.89

Overall 3 3 3 1 3 5 3 2 3 3 1 ▼3 5 2 3 2 ▼2 1 1 4 ▲1 2 1 3 3 ▲2 3 2 1 1 4 1 4 2 1 2 2 5 ▲1 5 3 2 1 4 3 1 5 1 2 ▼2 3 ▼3 3 4 3 1 2 4 5 ▲2 1 3 3 ▲2 4 3 2 5 1 ▼3 3 2 ▼4 4 3

5 Yr. Growth Risk Persistence YTD 2 2 ▲ 3 5 5 3 3 3 4 3 2 5 3 2 ▼ 4 4 3 3 4 4 2 2 5 1 2 1 1 1 3 3 2 1 4 ▲ 3 3 1 1 5 3 2 2 2 3 5 5 2 5 3 ▼ 4 2 5 5 4 5 ▼ 4 2 4 5 5 4 1 2 2 4 3 2 1 ▲ 2 3 3 2 ▲ 3 2 2 1

June 3, 2008

▼

3 3 2 1 1 3 2 2 2 1 3 2 5 3 1 1 3 1 1 3 3 4 1 4 4 4 5 4 1 1 4 2 3 2 1 4 4 4 2 5 4 3 1 2 2 3 3 1 3 3 1 1 1 2 1 2 3 2 3 3 1 5 5 3 4 3 3 5 1 3 5 2 4 5 5

-1.1 -6.3 -4.5 -4.6 -0.2 -8.3 -5.8 3.4 -6.3 -3.0 2.5 -1.2 -6.8 -5.8 0.0 -0.9 0.9 -4.4 -3.8 -1.4 -1.6 -2.1 6.9 -3.2 -3.6 -2.4 -2.4 -2.5 -0.2 1.0 -5.3 -0.5 -3.7 -0.4 1.2 1.0 1.3 -10.4 2.6 -10.1 -3.5 -2.4 -2.1 -1.1 -21.5 -1.1 -1.3 -4.4 -4.1 1.0 -16.7 -22.4 -0.9 -3.2 -0.2 -1.7 -1.6 -3.1 -1.3 -1.7 0.3 -4.8 -4.9 -1.0 -4.8 -2.1 -3.1 -0.8 -2.7 -2.7 -4.0 -5.4 -5.3 -0.2 -1.8

Annualized 3 Mos -2.0 -4.2 1.5 7.2 -0.2 -5.8 3.5 0.6 4.8 6.0 0.9 -9.0 -0.8 -2.4 2.2 -2.3 -1.0 5.6 5.3 5.3 4.6 5.8 13.9 0.5 0.9 -0.2 0.9 0.9 -1.7 -1.0 0.9 -0.5 0.6 -1.5 1.8 0.1 -0.1 5.1 1.0 -7.4 1.7 1.2 2.7 -1.1 -3.9 3.1 -1.7 4.0 5.2 -1.2 2.0 -9.2 2.2 -3.7 2.4 3.2 5.6 -2.1 -1.7 7.8 0.2 0.6 0.5 8.5 -1.7 -1.0 2.0 -2.2 5.6 -3.9 1.7 3.0 0.0 -1.3 -0.5

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-0.3 -12.3 -9.3 -9.9 -1.8 -17.7 -14.0 4.9 -11.8 -11.0 4.4 -9.0 -12.2 -7.9 -2.0 -0.4 2.4 -10.1 -9.2 -10.8 -3.0 -4.5 2.0 -6.4 -7.5 -4.3 -9.3 -5.7 1.0 2.4 -9.9 -0.1 -13.1 0.1 1.0 1.5 2.6 -18.3 4.4 -17.3 -9.0 -5.0 -6.2 -2.0 -27.5 -2.7 -2.0 -5.6 -7.5 3.7 -29.9 -20.0 -3.0 -6.0 -1.7 -4.6 -4.3 -4.8 -2.3 -4.5 0.9 -9.0 -9.1 -3.9 -9.1 -9.6 -5.5 0.0 -5.9 -2.3 -7.6 -8.7 -13.4 0.8 -8.3

3.1 5.9 12.2 32.7 10.3 1.3 14.8 4.6 14.4 19.3 4.8 32.8 5.9 7.5 6.0 4.0 3.6 18.1 19.9 9.2 10.6 9.9 50.6 6.6 7.8 5.8 6.3 7.4 3.9 3.9 7.8 4.0 1.6 3.3 5.8 4.7 5.6 6.3 6.1 -1.8 9.6 8.8 16.6 2.9 20.2 13.5 1.7 20.5 18.4 4.5 30.0 33.2 5.4 2.0 6.4 12.9 24.1 2.1 1.5 18.8 5.4 7.3 7.1 18.8 5.1 7.8 9.2 1.6 22.7 1.1 6.8 11.7 5.3 1.5 3.5

3.5 11.4 17.9 34.6 11.8 8.3 17.8 5.2 20.9 20.5 4.1 32.6 8.3 10.4 8.2 4.8 3.4 19.5 21.4 15.3 12.5 9.5 43.4 8.3 10.2 6.8 8.1 8.6 4.0 4.1 10.1 4.4 9.9 3.4 7.5 4.6 5.8 7.8 4.7 4.7 11.5 10.6 26.1 4.3 27.3 12.7 2.4 22.9 16.4 3.1 31.8 44.0 8.4 4.6 8.6 15.1 19.3 4.7 2.6 14.6 5.8 9.5 9.0 14.6 7.4 11.0 9.7 2.2 23.9 2.5 7.9 21.1 7.3 2.4 7.2

4.6 6.3 6.6 10.8 8.4 4.0 5.3 5.5 9.6 7.6 5.3 18.1 0.4 8.6 4.3 5.2 4.4 6.7 12.2 9.6 5.8 1.4 17.2 3.4 4.0 3.4 4.7 4.7 5.0 5.1 3.5 — 3.9 4.5 4.9 5.2 3.6 2.2 5.5 2.7 5.5 6.4 7.2 4.9 — 4.9 3.7 12.8 8.0 4.7 11.4 16.1 4.0 — 5.3 8.1 4.5 4.3 4.0 3.1 5.0 4.3 4.1 3.3 10.7 4.5 6.5 5.1 9.1 4.4 4.7 6.4 1.3 4.1 3.1

5.0 2.1 0.9 0.3 5.7 0.2 2.4 2.5 0.7 0.9 5.4 3.8 1.2 0.0 8.4 5.3 4.6 1.3 1.0 0.0 1.2 0.4 0.5 3.8 3.8 3.6 3.8 3.4 5.4 4.7 1.6 5.0 0.7 3.8 5.2 5.6 3.8 0.0 5.1 1.6 1.5 0.0 2.1 4.6 1.2 2.3 3.3 2.3 0.0 5.1 0.0 0.0 7.4 5.0 7.8 1.3 0.0 4.1 3.8 0.0 6.5 1.2 1.2 0.0 0.0 3.0 2.3 0.0 2.0 4.1 1.2 0.5 0.0 3.7 0.6

1.0 -9.8 -7.3 25.7 -0.3 -19.4 -8.5 9.0 -7.2 -5.0 6.8 21.7 -8.1 -2.1 -2.6 0.9 4.5 1.3 2.7 -8.1 5.9 5.1 41.7 -2.6 -3.2 -1.2 -3.7 -0.1 2.8 4.6 -5.1 2.6 -22.1 1.3 3.4 4.9 6.3 -0.6 6.7 -20.6 -2.3 4.1 -4.7 -3.5 -19.7 7.9 -3.1 5.2 12.3 6.4 25.0 14.1 -3.5 -8.9 -1.7 1.6 17.4 -7.2 -3.8 6.6 4.7 -4.6 -4.7 7.7 -6.4 -7.2 1.0 -0.9 11.0 -1.5 -2.7 1.3 -7.8 1.9 -6.1

Ownership Costs $ $$$ $$$ $$ $$ $$$ $$ $$ $$ $$ $ $$ $ $$ $$$ $$ $ $ $$ $$$ $$$ $$ $$ $ $ $ $ $$ $ $$ $ $ $$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $ $$$ $$$ $ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $ $$$ $$$ $$$ $ $ $ $ $ $ $$$ $$$ $$$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Total Return Through 4/30/08

Value Line Rankings Page 1004 I I 1542 1417 1542 I 1402 818 I 1004 1410 965 1018 I I I 1217 803 I 1597 114 714 609 1597 610 1551 779 410 803 208 610 364 162 1418 610 780 573 574 1566 318 1522 319 I 365 1566 1566 1567 1507 1508 1567 1577 1217 1577 916 115 I 818 410 411 1019 1597 1598 1523 1598 1346 818 1542 1552 1552 1418 209 209 1140 I

Fund Name EquiTrust Series Value Growth B (FABUX) EquiTrust Strat Yield B (FBYBX) Evergreen Adj Rate Fund IS (ESARX) Evergreen Core Bond I (ESBIX) Evergreen Diversfd Cap Bldr B (EKBBX) Evergreen Diversfd Inc Builder A (EKSAX) Evergreen Diversified Bond B (EKDMX) Evergreen Emerging Markets Gr I (EMGYX) Evergreen Equity Income I (EVTRX) Evergreen Equity Index Fund I (EVIIX) Evergreen Fundamental Lge Cap I (EVVTX) Evergreen Global Large Cap Equity I (EYGLX) Evergreen Global Opportunities A (EKGAX) Evergreen Growth C (EGRTX) Evergreen Health Care Fund A (EHABX) Evergreen High Yield Bond B (EKHBX) Evergreen International Bond I (ESICX) Evergreen International Equity B (EKZBX) Evergreen Large Comp Growth B (EKJBX) Evergreen Mid Cap Growth B (EKABX) Evergreen Municipal Bond B (EKEBX) Evergreen Omega A (EKOAX) Evergreen Precious Metals B (EKWBX) Evergreen S&P 500 Fund B (EVSBX) Evergreen Short-Intermed Muni I (EMUNX) Evergreen Strategic Growth I (ESGIX) Evergreen US Govt A (EUSAX) Evergreen Utility and Telecom A (EVUAX) Excelsior Blended Equity Fd (UMEQX) Excelsior Large Cap Growth Fd (UMLGX) Excelsior Val & Restruct Fd (UMBIX) Fairholme Fund (FAIRX) FAM Equity-Income Fund (FAMEX) FAM Value Fund (FAMVX) FBP Balanced Fund (FBPBX) FBP Value Fund (FBPEX) FBR Gas Utility Index Fund (GASFX) FBR Large Cap Financial Fund (FBRFX) FBR Small Cap Financial Fd (FBRSX) Federated Adj Rate Sec Inst (FEUGX) Federated American Leaders A (FALDX) Federated Bond Fund F (ISHIX) Federated Capital Appreciation A (FEDEX) Federated Capital Income Fund A (CAPAX) Federated Equity Income A (LEIFX) Federated Fund for US Govt Sec A (FUSGX) Federated GNMA Trust Inst (FGMAX) Federated Govt Inc Securities F (FGOIX) Federated High Income Bond A (FHIIX) Federated High Yield Trust (FHYTX) Federated Income Trust Inst (FICMX) Federated International Bond A (FTIIX) Federated International Equity A (FTITX) Federated International High Inc A (IHIAX) Federated International Sm Co A (ISCAX) Federated Kaufmann K (KAUFX) Federated Market Opportunity A (FMAAX) Federated Max-Cap Index Inst (FISPX) Federated Mid Cap Gr Strategies A (FGSAX) Federated Mid-Cap Index Fund (FMDCX) Federated Mini-Cap Index Inst (FMCPX) Federated Muni High Yield F (FHTFX) Federated Muni Securities Fd A (LMSFX) Federated Sh Term Inc Inst (FSTIX) Federated Sh Term Muni Inst (FSHIX) Federated Stock and Bond Fund A (FSTBX) Federated Stock Trust (FSTKX) Federated Strategic Income Fund A (STIAX) Federated USG Bond Fund (FEDBX) Federated USG Sec:2-5yrs Inst (FIGTX) Fidelity Adv Balanced Fund T (FAIGX) Fidelity Adv Capital Devlpment O (FDETX) Fidelity Adv Diversified Stock O (FDESX) Fidelity Adv Emerging Asia A (FEAAX) Fidelity Adv Emerging Mkts Inc T (FAEMX)

Inv. Obj./Peer GI CH GM/AJ DB BA DB CG FO/EM GI/VL GR/LB GI GL GL SC/SB HL CH IB/GL FO GR/LG SC/SG MB/LT AG/LG PM GR MB/IT GR GS/LT UT GR/LB GR GR/VL GR IN GR/MV BA GR/LV UT FS FS GM/AJ GI/LB CG GI/LB UT IN/LB GM GM GM CH CH GM IB/FO FO IB FO AG/MG IN/MV GI/LB GR/MG GR/MB SC MB/LT MB/LT CG/ST MB/ST BA GI/LB DB GS/LT GS/ST BA GR/LB GR/LB PB/NJ IB/FO

NAV 5/21/08 15.05 9.06 9.21 9.93 9.25 6.19 13.82 26.37 20.15 52.01 24.76 17.05 33.71 11.55 18.69 3.15 12.10 10.00 7.12 5.70 7.33 29.05 69.86 14.81 9.83 32.40 10.06 16.02 30.88 11.98 59.36 33.16 18.78 43.42 15.98 21.28 21.49 12.88 15.23 9.57 16.39 8.85 20.82 7.96 20.04 7.76 10.96 8.93 7.56 5.72 10.36 11.89 24.36 8.38 46.12 5.65 12.32 22.43 39.31 22.03 13.74 8.97 10.20 8.28 10.04 17.35 25.34 8.76 11.32 11.45 16.01 12.12 15.37 27.56 12.29

Overall 3 4 3 5 3 4 5 1 4 ▼4 3 3 2 ▼5 3 4 3 1 4 4 4 4 2 ▼4 3 3 3 2 2 3 2 1 5 3 4 4 ▲1 4 4 2 5 1 2 2 2 1 ▲1 2 3 3 1 3 2 3 2 2 3 ▼4 2 3 4 ▼4 3 2 2 2 3 1 3 2 3 2 ▼4 2 3 ▼

5 Yr. Growth Risk Persistence YTD 2 2 1 3 2 ▼ 5 3 5 2 2 2 3 4 4 3 4 5 3 3 4 ▲ 3 3 5 2 2 3 2 ▼ 4 2 4 3 3 3 2 1 3 3 2 3 1 3 2 2 1 2 2 2 3 ▼ 4 ▼ 4 2 5 3 5 ▲ 4 3 2 2 4 3 4 ▲ 3 3 1 1 1 2 3 5 3 2 3 3 5 5

EQ-FI

Page 13

▼

▼

4 3 4 4 5 2 4 1 4 4 4 3 1 3 3 2 2 1 4 3 3 4 2 4 4 3 4 1 3 3 2 2 4 3 5 3 2 4 4 3 4 2 3 3 3 3 3 3 1 1 3 3 2 1 1 2 4 4 2 3 3 2 2 3 3 4 4 1 2 3 4 3 4 1 1

-4.3 -2.8 -0.5 -5.9 -2.3 -1.9 -4.5 -0.9 -7.4 -5.3 -6.0 -4.6 -6.0 -11.6 -9.7 -2.2 7.5 -5.4 -6.2 -7.3 -1.4 -5.3 0.2 -5.7 -0.5 -5.5 -0.6 -2.1 -3.5 -2.1 -1.6 1.6 -1.6 -2.7 -4.4 -7.3 -3.6 -3.6 -0.9 1.6 -7.0 1.3 -2.2 -0.5 -2.8 1.7 2.4 1.7 0.5 0.2 2.2 6.8 -4.6 -0.1 -4.9 -9.1 0.8 -5.3 -2.6 -1.9 -6.4 -3.2 -0.2 0.6 0.4 -2.5 -4.8 1.9 1.7 2.6 -3.2 -7.0 -7.8 -8.8 1.4

Annualized 3 Mos 0.1 -2.7 -1.3 -5.1 5.7 2.3 -3.9 6.6 -3.4 1.0 0.2 3.4 6.0 -2.3 -3.3 0.0 3.3 3.9 -0.1 4.0 -2.4 0.4 -9.2 0.6 -1.6 4.3 -1.9 6.8 2.5 6.5 3.9 3.8 1.8 -0.5 -3.3 -5.0 2.1 -4.6 -6.1 0.3 -1.7 0.3 3.6 0.5 0.4 -0.1 0.6 -0.4 2.0 2.0 0.4 2.6 4.4 -0.3 6.4 -0.7 -3.1 1.0 7.2 4.5 0.6 -3.8 -1.3 -0.7 -0.5 1.8 1.1 1.2 -0.8 0.0 1.6 1.5 1.0 5.1 0.9

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-11.4 -3.3 -0.4 -5.7 -5.0 -3.9 -5.0 -7.9 -13.0 -9.9 -11.3 -10.4 -12.5 -18.9 -12.2 -5.2 7.6 -10.0 -11.3 -13.4 -1.6 -10.2 -0.7 -9.8 -0.6 -9.6 0.7 -5.2 -8.1 -7.8 -6.7 -4.9 -9.1 -8.1 -10.4 -16.1 -4.4 -7.6 -3.7 2.7 -14.9 2.3 -5.8 -1.8 -6.1 3.6 4.4 3.9 -1.0 -1.8 4.2 8.9 -11.9 -0.3 -14.5 -11.2 1.8 -9.9 -6.0 -7.1 -13.3 -5.2 -0.3 1.7 1.0 -5.2 -7.8 2.1 5.8 6.0 -6.8 -10.5 -13.2 -17.9 0.4

5.1 0.1 2.6 0.6 6.1 1.7 0.7 38.1 6.1 7.9 7.8 11.9 18.7 8.1 7.1 2.7 5.2 15.5 8.0 9.6 1.1 8.1 40.8 8.1 1.7 9.6 2.8 19.4 9.9 16.4 13.5 14.1 3.7 4.6 2.5 2.3 13.8 0.8 -2.2 4.4 2.1 4.7 10.1 8.2 9.0 4.4 4.8 4.2 6.6 6.5 4.9 3.5 12.9 9.3 21.4 15.2 2.6 7.9 14.2 10.7 7.8 1.5 2.3 4.0 2.7 8.0 7.3 6.6 4.7 5.3 8.0 11.3 9.6 30.6 9.8

10.2 3.3 2.2 1.8 6.8 3.9 1.6 36.6 10.0 10.3 10.9 12.5 24.1 10.9 11.2 4.6 7.7 18.5 8.2 11.7 2.3 9.8 33.5 10.6 1.9 9.9 2.6 24.2 11.5 14.7 17.7 18.8 7.3 9.3 6.6 8.2 17.4 6.9 5.5 3.1 7.2 5.5 10.6 10.0 12.0 3.9 4.0 3.7 7.8 7.9 4.2 6.6 16.1 10.4 25.9 17.1 5.9 10.4 16.9 14.6 12.9 4.0 3.0 3.2 2.2 8.2 10.5 7.7 5.4 3.7 7.4 10.3 9.7 32.5 11.0

1.2 3.8 3.8 4.7 3.1 4.8 3.2 13.5 4.9 3.6 2.4 3.7 11.0 3.5 — 3.2 7.7 6.4 1.6 3.2 3.1 3.9 17.7 2.5 3.3 4.2 4.5 9.1 4.1 3.3 9.8 — 6.3 6.9 4.2 3.4 8.7 4.3 7.4 4.0 2.0 5.3 6.6 0.8 3.6 5.1 5.3 5.2 4.1 3.6 5.5 5.0 3.7 9.2 11.6 9.6 — 3.5 6.1 9.0 4.1 3.6 4.0 4.2 3.3 4.4 4.5 6.2 6.7 5.3 3.4 4.9 0.1 13.0 10.4

0.0 4.9 1.6 0.9 1.0 1.2 0.8 0.7 1.7 1.8 0.8 1.4 0.0 0.0 0.0 1.1 3.7 1.5 0.0 0.5 0.5 0.0 0.0 0.2 0.6 0.6 0.8 4.1 0.6 0.0 1.1 0.6 1.1 0.5 2.3 1.4 2.2 1.1 1.3 4.8 0.9 5.3 0.5 4.2 2.7 4.6 4.9 4.5 7.6 7.3 4.8 4.9 0.2 6.1 0.0 0.0 4.3 1.7 0.0 1.2 0.7 5.7 4.2 4.6 3.6 2.1 1.1 5.1 4.2 4.2 1.6 0.8 1.1 0.7 5.4

-7.4 -3.8 0.8 -5.5 -1.1 -3.2 -4.7 24.3 -9.8 -5.1 -3.9 -3.9 -1.0 -9.1 -9.4 -7.0 14.7 1.1 -3.3 -0.2 -2.8 -1.6 31.8 -6.8 -0.6 3.6 1.4 0.7 1.0 12.4 -0.6 7.8 -10.1 -8.2 -9.7 -21.0 1.9 -16.9 -16.6 5.2 -17.0 3.7 0.8 -0.7 -4.3 5.6 6.7 6.0 -0.3 -0.9 6.4 16.8 -1.5 0.4 0.4 2.7 2.3 -5.0 2.9 -3.0 -11.8 -6.8 -0.7 3.1 2.3 1.1 -6.8 3.8 8.4 9.7 -1.3 2.0 -5.2 20.3 3.3

Ownership Costs $$$ $$$ $$ $ $$$ $$$ $$$ $$ $ $ $$ $$ $$$ $$ $$$ $$$ $ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $ $ $$$ $$$ $$ $$ $$ $ $$ $$ $ $$ $ $$ $$ $ $$$ $$ $$$ $$$ $$$ $$ $ $$ $$$ $ $ $$ $$$ $$$ $$$ $$ $$$ $ $$$ $ $ $$ $$$ $ $ $$$ $ $$$ $ $ $$ $ $ $$$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

FI-FI

Page 14

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 556 209 366 1109 I I I 209 1004 588 1508 I 1141 611 210 I 1598 I 917 1523 781 411 116 1218 1347 1311 1312 117 1348 163 1585 918 1508 210 1142 803 164 1389 1622 210 919 165 920 367 368 1110 1111 611 166 118 1005 1313 I I I 1349 818 1418 1567 1552 819 320 167 411 1508 210 1523 1552 1598 921 1524 1143 1144 411 1218

Fund Name Fidelity Adv Energy Fund T (FAGNX) Fidelity Adv Equity Growth I (EQPGX) Fidelity Adv Equity Income T (FEIRX) Fidelity Adv Europe Cap App I (FIEAX) Fidelity Adv Financial Serv A (FAFDX) Fidelity Adv Float-Rate Hi-Inc A (FFRAX) Fidelity Adv Global Cap App A (FGEAX) Fidelity Adv Gr Opportunities T (FAGOX) Fidelity Adv Growth & Income A (FGIRX) Fidelity Adv Health Care T (FACTX) Fidelity Adv Hi Income Advantage T (FAHYX) Fidelity Adv Interm Bond I (EFIPX) Fidelity Adv Japan A (FJPAX) Fidelity Adv Large Cap Fund T (FALGX) Fidelity Adv Mid Cap Fund T (FMCAX) Fidelity Adv Mortgage Secs A (FMGAX) Fidelity Adv Muni Income T (FAHIX) Fidelity Adv NY Muni Income B (FNYBX) Fidelity Adv Overseas Fund T (FAERX) Fidelity Adv Short-Fixed Income T (FASFX) Fidelity Adv Telecom & Util Gr A (FUGAX) Fidelity Adv Value Strategies T (FASPX) Fidelity Aggressive Growth Fund (FDEGX) Fidelity Aggressive Intl Fund (FIVFX) Fidelity Asset Manager 20% (FASIX) Fidelity Asset Manager 50% (FASMX) Fidelity Asset Manager 70% (FASGX) Fidelity Asset Manager 85% (FAMRX) Fidelity Balanced Fund (FBALX) Fidelity Blue Chip Growth (FBGRX) Fidelity CA Muni Income (FCTFX) Fidelity Canada Fund (FICDX) Fidelity Capital & Income (FAGIX) Fidelity Capital Appreciation (FDCAX) Fidelity China Region Fund (FHKCX) Fidelity Congress Street (CNGRX) Fidelity Contrafund (FCNTX) Fidelity Convertible Securities (FCVSX) Fidelity CT Muni Income (FICNX) Fidelity Disciplined Equity (FDEQX) Fidelity Diversified Intl Fund (FDIVX) Fidelity Dividend Growth Fund (FDGFX) Fidelity Emerging Markets (FEMKX) Fidelity Equity-Income Fund (FEQIX) Fidelity Equity-Income II Fund (FEQTX) Fidelity Europe (FIEUX) Fidelity Europe Cap Appreciation (FECAX) Fidelity Exchange Fund (FDLEX) Fidelity Export & Multinational (FEXPX) Fidelity Fifty Fund (FFTYX) Fidelity Four In One Index Fund (FFNOX) Fidelity Freedom 2010 Fund (FFFCX) Fidelity Freedom 2020 Fund (FFFDX) Fidelity Freedom 2030 Fund (FFFEX) Fidelity Freedom 2040 Fund (FFFFX) Fidelity Freedom Income Fund (FFFAX) Fidelity Fund (FFIDX) Fidelity Global Balanced Fund (FGBLX) Fidelity GNMA Fund (FGMNX) Fidelity Government Income Fund (FGOVX) Fidelity Growth & Income II (FGRTX) Fidelity Growth & Income Portf (FGRIX) Fidelity Growth Company (FDGRX) Fidelity Growth Discovery (FDSVX) Fidelity High Income (SPHIX) Fidelity Independence Fund (FDFFX) Fidelity Intermediate Bond (FTHRX) Fidelity Intermediate Government (FSTGX) Fidelity Intermediate Muni Income (FLTMX) Fidelity International Discovery (FIGRX) Fidelity Investment Grade Bond Fd (FBNDX) Fidelity Japan Fund (FJPNX) Fidelity Japan Smaller Companies (FJSCX) Fidelity Large Cap Stock Fund (FLCSX) Fidelity Latin American Fund (FLATX)

Inv. Obj./Peer

NAV 5/21/08

EN 62.21 GR/LG 63.88 IN/LV 27.10 EU 16.68 FS 15.21 CH 9.46 GL 12.19 GR/LB 39.97 GI 19.52 HL 19.21 CH 9.96 CG/IT 10.56 PB/JP 14.93 GR/LB 18.22 GR/MB 22.22 GM 10.21 MB/HY 12.65 MS 12.70 FO 23.15 CG/ST 9.00 UT 22.45 GR/MV 25.35 AG/GW 20.49 FO 14.90 BA 12.26 AA 15.05 AA 16.41 AG 13.58 BA 19.27 GR/LG 41.75 MC/LT 12.10 FO 66.48 CH 8.63 GR/LB 24.90 PB/NJ 29.57 GR 473.89 GR 69.14 CV 29.37 MS 11.33 GR/LB 27.52 FO 38.86 GR/LG 27.55 FO/EM 32.96 IN/LV 51.44 IN/LV 21.28 EU 40.92 EU 25.52 GR/LB 331.57 GR 24.31 AG 20.74 GI 29.49 AA 14.22 AA 14.93 AA 15.34 AA 9.01 BA 11.25 GI/LB 37.65 BA/GL 22.66 GM 11.01 GS/LT 10.48 GI 10.80 GI/LB 24.93 GR/LG 80.17 GR 15.12 CH 8.62 GR/LB 29.02 CG/IT 10.04 GS/IT 10.40 MB/IT 9.99 FO 40.87 CG 7.07 PB/JP 14.17 PB/JP 10.32 GR 17.82 FO/LA 71.38

Overall 1 3 3 ▲1 5 3 3 4 2 3 4 3 4 3 3 5 ▲1 3 2 3 2 ▲4 4 3 ▲2 3 3 3 2 3 1 1 3 ▼4 ▼3 2 1 2 1 3 1 4 1 3 4 ▲1 ▲1 2 3 ▼4 3 2 2 2 2 3 2 1 1 ▼2 ▼3 5 2 2 3 2 3 1 1 1 3 4 4 3 1 ▲

5 Yr. Growth Risk Persistence YTD 5 3 2 4 3 ▼ 3 4 ▼ 5 2 3 5 2 4 3 4 2 3 ▲ 3 3 1 3 4 4 4 1 1 2 3 2 3 ▲ 3 4 4 3 5 2 3 3 3 3 3 2 5 2 2 4 4 2 ▼ 4 4 2 1 2 2 ▼ 3 1 3 2 2 3 2 2 ▼ 4 3 ▼ 4 4 2 2 3 3 2 ▼ 5 5 3 5

June 3, 2008

▼

▲

▼

▼

▲

1 3 3 1 4 2 3 3 3 3 1 4 3 3 2 4 1 3 2 4 2 3 3 2 4 5 5 3 3 4 1 1 1 3 2 3 2 3 3 3 1 5 1 3 5 1 1 3 2 3 3 4 4 3 3 4 3 3 3 3 3 5 3 3 1 3 3 3 2 1 3 3 3 3 1

3.2 -8.8 -5.2 -6.3 -9.6 0.3 -5.0 -8.8 -5.8 -13.4 -0.6 0.0 -0.5 -7.5 -7.7 -1.0 0.0 0.1 -5.0 -1.6 -5.7 -7.3 -14.0 -5.5 -1.2 -3.3 -4.5 -5.1 -3.0 -5.8 0.0 -0.8 0.2 -7.7 -5.9 -5.0 -6.5 0.4 0.8 -7.8 -4.3 -5.5 -6.0 -4.3 -5.0 -6.0 -6.3 -4.1 -7.0 -7.6 -3.7 -2.1 -3.4 -4.5 -4.7 -0.3 -6.3 -0.9 2.2 2.6 -6.9 -5.8 -4.8 -8.9 2.2 -0.2 0.2 2.5 1.0 -6.8 -0.6 -0.8 -7.7 -7.4 6.7

Annualized 3 Mos 15.9 1.0 -0.1 4.5 -7.6 3.5 4.9 6.6 1.1 -6.8 3.4 -1.3 4.7 -0.1 5.3 -2.1 -1.0 -1.0 4.4 -2.2 1.6 0.7 -1.8 5.4 -0.1 0.7 1.5 2.1 1.6 3.5 -1.0 6.5 3.4 -1.5 10.3 1.7 3.3 6.8 -0.8 0.1 5.5 0.0 7.5 1.0 0.1 4.7 4.4 3.1 3.0 6.1 1.6 1.1 1.6 1.9 2.2 0.3 1.4 3.5 0.3 0.2 -0.7 -1.3 5.0 0.6 3.9 9.2 -1.1 0.1 -0.6 3.5 -1.7 4.4 1.8 0.1 12.9

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

7.3 -13.0 -9.9 -10.0 -19.3 -0.5 0.8 -14.5 -9.5 -15.5 -4.8 1.2 -8.2 -12.2 -15.5 -0.8 0.6 1.1 -9.7 -1.0 -6.2 -15.0 -21.2 -13.9 -1.8 -6.1 -8.5 -10.0 -6.4 -9.7 0.6 -8.0 -2.1 -16.8 -18.8 -7.8 -8.7 -3.8 2.0 -11.1 -9.7 -11.9 -11.5 -10.3 -9.6 -9.2 -10.1 -6.9 -12.3 -14.7 -7.8 -4.6 -7.0 -8.9 -9.4 -1.0 -9.1 -4.0 4.3 5.4 -11.0 -11.6 -10.2 -12.6 0.9 -3.6 1.5 5.2 2.1 -11.8 0.3 -8.4 -17.8 -11.9 1.1

33.5 11.8 8.1 19.6 1.6 4.0 13.3 10.4 9.8 4.3 8.7 3.0 3.0 11.4 11.4 1.4 2.9 2.3 16.6 2.2 17.7 9.9 9.7 11.1 6.2 6.4 7.1 10.6 10.4 7.1 3.2 25.9 8.1 9.3 26.6 8.5 14.4 15.3 3.3 9.8 17.6 6.5 38.0 8.7 7.4 17.5 19.9 10.0 11.9 12.3 9.2 7.6 9.3 10.1 10.4 5.0 11.4 12.4 4.9 5.2 9.4 3.8 15.4 14.1 7.3 20.4 3.3 5.1 3.5 18.5 2.9 10.4 -4.5 10.7 51.1

32.5 11.2 11.3 21.1 5.9 4.1 15.2 10.7 9.0 6.9 11.4 3.0 13.4 10.3 14.4 2.2 3.7 2.8 20.2 2.0 19.0 14.7 11.0 14.6 6.6 6.7 7.7 13.1 12.1 7.9 3.8 27.7 10.1 12.7 28.1 10.0 15.8 13.2 3.5 12.0 21.6 7.5 36.9 11.7 10.3 24.2 21.6 12.3 13.8 9.7 11.8 8.1 10.5 11.7 12.4 4.8 11.8 15.2 4.3 4.3 8.8 6.4 15.9 11.8 8.6 16.8 3.1 3.8 3.7 22.7 3.2 16.2 11.7 10.2 47.7

15.2 4.3 5.3 — 3.8 — — 1.0 4.3 5.1 5.8 5.1 — 3.3 10.4 4.4 4.9 4.6 5.5 4.0 5.4 7.7 -0.1 5.7 5.4 4.9 3.9 — 8.1 2.2 5.0 14.6 6.3 6.1 13.7 4.9 8.6 10.3 4.8 4.8 11.2 4.8 13.0 5.1 5.2 7.5 8.4 4.7 10.0 7.3 — 5.9 6.0 5.8 — 4.8 4.9 8.1 5.4 5.7 — 2.6 7.9 7.0 4.2 8.6 5.2 5.4 4.8 10.1 5.2 7.7 11.1 3.6 16.7

0.0 0.0 1.0 2.0 1.4 5.8 0.0 0.0 0.4 0.0 6.8 4.7 0.0 0.0 0.0 4.8 3.6 2.7 1.1 4.4 1.4 0.0 0.0 0.8 4.1 3.1 2.5 1.6 2.1 0.7 4.1 0.6 6.5 0.4 0.9 2.0 0.6 2.2 3.8 0.9 1.2 1.5 0.6 1.8 1.5 1.5 1.9 1.6 0.1 0.1 2.2 2.6 2.2 1.5 1.5 4.1 1.0 1.4 5.0 4.3 0.6 1.1 0.0 0.2 7.6 0.0 4.9 4.3 3.8 1.0 5.0 0.2 0.2 0.6 1.0

32.2 9.4 -7.0 -2.0 -24.1 0.4 8.2 3.3 -0.4 -10.5 -3.8 1.4 -9.4 -2.7 -6.6 -3.1 1.7 1.9 1.3 -0.6 -1.9 -12.9 -5.2 -8.0 0.7 -1.7 -2.8 -3.6 -0.6 0.8 1.8 21.3 -1.1 -6.7 35.9 1.6 6.7 7.9 3.6 -5.2 2.4 -8.5 25.2 -8.2 -6.4 0.4 -2.0 -0.2 1.0 -3.4 -2.9 0.6 -0.5 -1.6 -2.1 1.5 3.1 6.6 7.1 8.7 -2.0 -8.7 9.0 10.6 1.0 21.3 2.1 8.6 4.0 2.7 0.1 -4.6 -14.5 -2.0 41.2

Ownership Costs $$$ $ $$ $$ $$$ $$ $$$ $$ $$$ $$$ $$ $ $$$ $$$ $$$ $$ $$ $$ $$$ $$ $$$ $$$ $ $ $ $ $ $ $ $ $ $ $ $ $$ $ $ $ $ $ $ $ $$ $ $ $$ $$ $ $ $ $ $ $ $ $ $ $ $$ $ $ $ $ $ $ $ $ $ $ $ $$ $ $$ $$ $ $$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Total Return Through 4/30/08

Value Line Rankings Page 517 1622 168 1623 211 1567 1599 1577 119 1623 1112 1615 1623 120 1218 1623 1145 1350 731 704 I 575 589 576 705 747 748 706 707 749 557 558 577 715 590 578 579 708 I I I 709 559 560 710 711 750 751 752 712 782 I 1599 1524 I 1019 1146 I 412 I 211 321 412 I 412 1524 783 1005 211 966 1524 803 412 1218 I

Fund Name Fidelity Low-Priced Stock (FLPSX) Fidelity MA Muni Income (FDMMX) Fidelity Magellan Fund (FMAGX) Fidelity MI Muni Income (FMHTX) Fidelity Mid-Cap Stock Fund (FMCSX) Fidelity Mortgage Securities (FMSFX) Fidelity Municipal Income (FHIGX) Fidelity New Markets Income (FNMIX) Fidelity New Millennium (FMILX) Fidelity NJ Muni Income (FNJHX) Fidelity Nordic Fund (FNORX) Fidelity NY Muni Income (FTFMX) Fidelity OH Muni Income (FOHFX) Fidelity OTC Portfolio (FOCPX) Fidelity Overseas Fund (FOSFX) Fidelity PA Muni Income (FPXTX) Fidelity Pacific Basin (FPBFX) Fidelity Puritan Fund (FPURX) Fidelity Real Estate Investment (FRESX) Fidelity Select Air Transportation (FSAIX) Fidelity Select Automotive (FSAVX) Fidelity Select Banking (FSRBX) Fidelity Select Biotechnology (FBIOX) Fidelity Select Brokrg and Inv Mgt (FSLBX) Fidelity Select Chemicals (FSCHX) Fidelity Select Commun Equipment (FSDCX) Fidelity Select Computers (FDCPX) Fidelity Select Const & Housing (FSHOX) Fidelity Select Consumer Staples (FDFAX) Fidelity Select Electronics (FSELX) Fidelity Select Energy Portfolio (FSENX) Fidelity Select Energy Svcs (FSESX) Fidelity Select Financial Services (FIDSX) Fidelity Select Gold Portfolio (FSAGX) Fidelity Select Health Care (FSPHX) Fidelity Select Home Finance (FSVLX) Fidelity Select Insurance (FSPCX) Fidelity Select Leisure (FDLSX) Fidelity Select Materials (FSDPX) Fidelity Select Medcl Equip & Sys (FSMEX) Fidelity Select Medical Delivery (FSHCX) Fidelity Select Multimedia (FBMPX) Fidelity Select Natural Gas (FSNGX) Fidelity Select Natural Resources (FNARX) Fidelity Select Paper&Forest Prods (FSPFX) Fidelity Select Retailing (FSRPX) Fidelity Select Sftwr & Comp Svcs (FSCSX) Fidelity Select Technology (FSPTX) Fidelity Select Telecommunications (FSTCX) Fidelity Select Transportation (FSRFX) Fidelity Select Utilities Growth (FSUTX) Fidelity Select Wireless (FWRLX) Fidelity Short-Intermed Muni Inc (FSTFX) Fidelity Short-Term Bond (FSHBX) Fidelity Small Cap Independence (FDSCX) Fidelity Small Cap Stock Fund (FSLCX) Fidelity Southeast Asia Fund (FSEAX) Fidelity Spartan 500 Idx Fund Inv (FSMKX) Fidelity Spartan Ext Mkt Idx Inv (FSEMX) Fidelity Spartan Intl Index Inv (FSIIX) Fidelity Spartan Tot Mkt Index Inv (FSTMX) Fidelity Spartan US Eq Index Inv (FUSEX) Fidelity Stock Selector (FDSSX) Fidelity Strategic Income Fund (FSICX) Fidelity Trend Fund (FTRNX) Fidelity US Bond Index (FBIDX) Fidelity Utilities Fund (FIUIX) Fidelity Value Discovery Fund (FVDFX) Fidelity Value Fund (FDVLX) Fidelity Worldwide Fund (FWWFX) Fifth Third Total Return Bd Fund A (KIFIX) Fifth Third Discipl Large Cap Val A (FSSIX) Fifth Third Equity Index Inst (KNIEX) Fifth Third Internatl Equity A (FSIEX) Fifth Third Large Cap Core A (KNVIX)

Inv. Obj./Peer

NAV 5/21/08

SC/SV 41.06 MS 11.74 GR/LB 86.80 MS 11.78 GR/MB 28.99 GM 10.23 MB/LT 12.52 IB 14.68 AG/GW 27.58 MS 11.46 EU 45.02 MY/LT 12.71 MS 11.52 AG/GW 47.54 FO 45.35 MS 10.70 PB 26.92 BA 18.26 RE 28.30 OT 30.30 OT 36.51 FS 21.71 HL 62.59 FS 57.33 OT 88.52 TC 21.94 TC 43.86 OT 34.19 OT 64.43 TC 42.12 EN 74.49 EN 111.07 FS 81.62 PM 43.76 HL 105.57 FS 24.23 FS 50.11 OT 68.89 OT 63.26 HL 23.99 HL 41.46 OT 35.95 EN 56.06 EN 45.03 OT 28.41 OT 38.69 TC 73.99 TC 75.09 TC 44.28 OT 44.70 UT 62.83 TC 7.58 MB/ST 10.41 CG/ST 8.38 SC 18.01 SC 16.32 PB/NJ 33.72 GI/LB 96.72 GR 36.70 FO 46.21 GR 39.10 GI/LB 49.29 GR/LB 27.88 DB 10.44 GR 64.67 CG 10.90 UT 19.45 GI 16.84 GR/VL 72.97 GL 20.80 CG 9.49 GR/LV 12.61 GR 26.43 FO 14.19 GI/LB 15.45

Overall 3 1 3 1 4 4 1 ▼3 3 1 ▼2 1 1 3 2 1 3 2 ▲3 ▼4 5 5 4 3 1 4 4 4 1 5 2 2 5 2 3 5 5 ▼4 1 1 3 5 ▲2 1 5 5 3 4 ▼4 3 2 3 ▼2 3 4 4 2 3 3 1 3 3 2 1 3 2 3 3 3 1 4 3 3 1 ▲4

FI-FI

Page 15

3 Mos

6 Mos 12 Mos

3 Yrs

5 Yrs

3 3 3 3 4 2 3 5 4 ▲ 3 4 ▲ 3 3 5 4 3 5 1 5 4 ▼ 5 3 4 4 3 5 5 5 2 5 5 5 3 5 3 4 3 4 ▲ 3 2 4 3 5 5 4 4 5 5 4 4 3 4 2 1 4 3 5 2 3 3 2 2 3 2 3 2 3 3 3 3 ▲ 2 2 2 3 3

2.1 -0.9 2.5 -0.9 3.2 -2.0 -0.9 1.0 1.3 -1.0 5.7 -0.8 -1.0 4.6 3.2 -1.1 1.4 0.6 10.0 -11.4 3.6 -8.8 -4.2 -3.5 8.7 6.2 10.0 -1.7 3.3 5.3 16.2 25.2 -7.4 -10.1 -6.5 -12.3 -9.5 -2.8 8.2 1.4 -16.4 0.3 19.9 14.3 -10.1 -3.8 5.8 9.2 -2.2 -0.4 2.2 1.1 -0.5 -2.1 -0.6 -0.7 3.0 1.0 1.6 5.3 1.1 1.0 1.1 1.2 3.0 0.0 0.5 0.8 1.7 4.9 -2.8 -0.6 1.0 4.2 -0.8

-8.5 1.3 -9.9 1.8 -12.2 -0.6 1.0 0.6 -12.9 1.5 -11.7 1.5 1.8 -16.2 -13.0 1.3 -19.1 -6.8 -6.5 -27.0 -17.8 -18.6 -14.8 -15.5 1.6 -18.4 -18.1 -6.7 -2.5 -18.8 7.7 5.6 -19.4 -10.8 -14.8 -27.0 -19.8 -14.8 -0.9 -0.1 -19.5 -14.1 11.3 5.1 -19.9 -13.7 -12.5 -20.0 -21.9 -9.8 -6.5 -21.9 2.8 -1.0 -19.8 -13.5 -25.2 -9.7 -10.4 -9.3 -9.8 -9.7 -9.7 1.8 -12.9 3.3 -9.7 -10.8 -11.7 -9.9 -0.2 -9.9 -9.7 -11.4 -12.5

10.7 3.3 9.9 3.5 13.8 1.7 3.3 10.1 15.5 3.4 23.7 3.3 3.4 14.5 19.7 3.2 19.9 7.9 10.3 8.9 8.0 -3.8 6.8 15.2 18.5 9.5 11.6 3.5 15.3 4.5 32.9 36.3 1.9 35.6 5.5 -12.5 2.3 9.4 24.6 9.0 2.7 3.8 31.4 36.1 1.5 4.4 18.4 11.1 11.0 11.3 16.5 14.2 3.4 2.2 9.2 9.3 33.7 8.2 11.1 16.3 8.9 8.2 10.6 6.4 11.3 4.3 13.5 13.2 9.8 16.6 2.4 7.7 8.0 16.2 6.0

16.6 3.9 10.1 3.7 13.8 2.5 4.0 11.3 13.3 3.9 27.6 3.8 3.9 14.2 22.2 3.7 23.2 9.6 17.9 13.2 11.1 3.4 7.8 16.3 21.4 13.3 12.1 13.6 15.9 8.1 33.8 31.8 6.1 24.6 7.9 -3.6 6.9 12.3 26.1 13.6 18.8 8.1 33.5 34.1 4.1 9.7 14.4 11.7 12.7 14.8 18.7 25.2 2.8 2.1 13.1 14.8 34.8 10.5 15.4 20.3 11.6 10.5 11.5 7.7 12.1 4.1 15.8 15.4 15.4 17.9 2.5 12.8 10.4 18.9 9.0

▲

▲

▼

▲

2 1 3 1 2 3 1 1 3 1 1 1 1 3 1 1 2 4 2 2 3 4 4 2 2 3 3 3 2 3 1 2 3 2 3 4 3 3 1 3 2 4 2 1 3 3 3 3 2 2 2 2 3 4 2 3 1 4 2 1 4 4 3 1 3 3 2 2 2 2 4 3 4 1 4

-2.9 0.2 -6.7 0.7 -5.9 -0.9 0.0 1.4 -8.5 0.3 -5.4 0.4 0.5 -9.8 -6.9 0.2 -11.8 -4.1 10.7 -15.3 0.3 -6.7 -6.4 -10.1 3.6 -5.9 -10.6 3.6 -2.9 -11.3 3.5 3.4 -9.5 -2.5 -12.7 -11.0 -15.6 -7.2 2.0 -0.4 -22.0 -6.3 10.7 2.4 -13.6 -5.8 -8.6 -10.0 -13.7 1.7 -5.5 -12.7 1.6 -1.5 -11.9 -8.0 -13.6 -5.1 -4.7 -3.3 -5.0 -5.1 -6.0 1.6 -8.8 1.6 -7.1 -5.8 -4.0 -4.8 -1.5 -4.7 -5.1 -4.2 -8.0

10 Yrs

Trailing Yield

Ownership Costs

11.5 5.0 4.1 4.9 8.9 4.7 5.1 10.6 10.8 5.0 11.6 5.2 5.0 5.6 6.8 4.8 11.6 5.9 11.8 7.1 3.8 1.9 7.6 9.3 10.5 4.7 4.7 7.7 7.9 4.6 16.6 14.0 4.0 14.1 5.3 -1.5 7.3 6.4 11.2 12.7 6.1 5.5 18.2 16.6 2.4 4.1 10.3 6.3 0.7 9.8 6.3 — 3.9 4.1 4.4 9.2 16.7 3.8 5.7 6.7 4.3 3.8 3.7 — 3.8 5.8 4.7 — 8.3 6.7 4.4 4.9 3.6 6.2 2.2

1.3 4.0 0.4 3.9 0.0 5.4 4.1 6.0 0.1 3.9 3.8 3.8 3.9 0.0 1.1 3.9 0.7 2.8 1.6 0.0 0.3 2.6 0.0 1.5 0.6 0.0 0.0 0.4 0.6 0.4 0.0 0.0 1.4 0.0 0.3 2.9 0.5 0.7 0.5 0.0 0.1 0.0 0.0 0.0 4.7 0.0 0.0 0.0 1.1 0.2 1.7 0.4 3.1 4.8 0.0 0.0 0.8 1.9 1.3 2.4 1.6 2.0 0.5 5.2 0.1 4.9 1.9 0.6 0.7 0.5 4.6 1.3 1.7 2.7 0.3

$ $ $ $ $ $ $ $ $ $ $$ $ $ $ $ $ $$ $ $ $ $$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $$ $ $ $ $ $ $ $ $ $$ $ $$ $ $ $ $ $ $ $ $ $ $ $ $ $$ $$$ $$$ $ $$$ $$$

Annualized

5 Yr. Growth Risk Persistence YTD

-5.5 2.5 3.7 3.4 -8.5 -2.7 2.2 3.6 1.0 3.0 1.9 2.8 3.2 8.0 3.9 3.1 1.7 -2.5 -16.2 -19.2 -8.1 -25.6 -7.5 -15.1 22.5 -2.9 6.6 -12.4 8.6 -14.6 33.1 38.8 -23.9 22.4 -8.9 -43.5 -21.2 -6.0 16.8 9.7 -16.3 -16.3 32.3 33.1 -19.3 -19.7 7.4 1.8 -14.0 -7.1 -2.4 3.8 5.0 -1.4 -13.3 -7.6 22.5 -4.7 -5.8 -1.1 -4.9 -4.7 -0.5 4.2 4.3 4.9 -7.3 -4.3 -10.1 4.6 0.8 -7.7 -4.9 1.3 -11.1

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

FI-FR

Page 16

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page I I 413 1525 518 1418 1525 369 I 1402 I 611 1005 169 804 732 1525 I I I I I 804 I 1553 170 967 716 922 I 611 413 1509 968 I 819 1599 612 I 1204 I 1419 753 I I 784 1553 804 804 1005 I 1205 1019 1419 1525 1205 519 1624 520 I I 1586 1586 1586 819 1624 1390 754 370 1599 211 1568 1624 I 591

Fund Name Fifth Third Micro Cap Value Inst (MXAIX) Fifth Third Mid Cap Growth Inv A (FSMCX) Fifth Third Quality Growth A (FSQGX) Fifth Third Short Term Bond Inst (KNLMX) Fifth Third Small Cap Growth Inst (KNEEX) First American Balanced A (FABAX) First American Core Bond A (FAFIX) First American Eqty Inc A (FFEIX) First American Eqty Indx A (FAEIX) First American International Y (FAICX) First American Intrm Trm Bd A (FAIIX) First American Lrg Cap Gr Opp A (FRGWX) First American Lrg Cap Val A (FASKX) First American Mid Cap Gr Opp Y (FISGX) First American Mid Cap Val A (FASEX) First American Real Est Secs A (FREAX) First American Shrt Trm Bd A (FALTX) First American Sm Cap Gr Opp A (FRMPX) First American Sm Cap Select A (EMGRX) First American Sm Cap Val A (FSCAX) First American Sm-Mid Cap Core A (FATAX) First American Strat-Agg Gr All A (FAAGX) First American Strat-Gr&Inc Allc A (FSGNX) First American Strat-Inc Alloc A (FSFIX) First American U.S. Govt Mortgage A (ARUGX) First Eagle Fund of America Y (FEAFX) First Eagle Global Fund A (SGENX) First Eagle Gold Fund A (SGGDX) First Eagle Overseas Fund A (SGOVX) First Focus Balanced Fund Inst (FOBAX) First Focus Core Equity Inst (FOEQX) First Inv Blue Chip A (FIBCX) First Inv Fund for Income A (FIFIX) First Inv Global A (FIISX) First Inv Government A (FIGVX) First Inv Growth & Income A (FGINX) First Inv Insd Tax Ex A (FITAX) First Inv Mid-Cap Opp A (FIUSX) First Inv Ohio Ins Tax-Free A (FIOHX) First Inv Special Situations A (FISSX) First Inv T/E-NJ A (FINJX) First Inv Total Return A (FITRX) Firsthand Technology Value Fund (TVFQX) Flex-funds Muirfield Fund (FLMFX) Flex-funds Quantex Fund (FLCGX) Flex-funds Social Resp Utilities (FLRUX) Flex-funds U.S. Government Bond (FLXBX) FMI Common Stock Fund (FMIMX) FMI Focus Fund (FMIOX) FMI Provident Trust Strategy Fd (FMIRX) Forward Emerald Banking & Fin A (HSSAX) Forward Emerald Growth A (HSPGX) FPA Capital Fund (FPPTX) FPA Crescent Fund (FPACX) FPA New Income Fund (FPNIX) FPA Paramount Fund (FPRAX) FPA Perennial Fund (FPPFX) Franklin Arizona Tax-Free Inc A (FTAZX) Franklin Balance Sheet Investmt A (FRBSX) Franklin Biotechnology Discovery A (FBDIX) Franklin CA Interm Tax-Free A (FKCIX) Franklin California H/Y Muni A (FCAMX) Franklin California Ins Tax-Free A (FRCIX) Franklin California Tx-Fr Inc A (FKTFX) Franklin Capital Growth A (FKREX) Franklin Colorado Tax-Free Inc A (FRCOX) Franklin Convertible Securities A (FISCX) Franklin DynaTech A (FKDNX) Franklin Equity Inc A (FISEX) Franklin Federal Tax-Free Inc A (FKTIX) Franklin Flex Cap Growth A (FKCGX) Franklin Floating Rate Dly-Acc A (FAFRX) Franklin Florida Tax-Free Inc A (FRFLX) Franklin Global Communications A (FRGUX) Franklin Global Health Care A (FKGHX)

Inv. Obj./Peer SC/SV GI/MG GR/LG CG/ST SC/SV BA CG IN/LB GI/LB FO CG/IT GR/LG GI/LV GR/MB GR/MV RE CG/ST SC/SG SC/SV SC/SV SC/SB AG GR FL GS/IT GR/VL GL PM FO BA GR/VL GR/LB CH GL GM GI MB/IS GR/MB MS SC/SB MS BA TC AA GR UT GS/LT GR GR GI/LG FS SC/SB SC/SV BA CG SC/SV SC/SV MS SC/SV HL MC/IT MC/HY MC/IS MC/LT GI/LG MS CV TC IN/LV MB/LT GR/GW GM MS TC/GL HL

NAV 5/21/08 3.79 12.76 16.93 9.39 8.30 10.70 11.18 13.85 25.28 14.78 10.10 30.55 18.05 40.52 24.18 19.19 10.03 17.38 11.23 10.63 9.79 13.52 11.41 11.52 10.38 27.99 46.06 26.38 23.92 12.92 8.95 23.17 2.81 7.46 10.91 15.25 9.76 27.62 12.34 22.45 12.63 14.89 39.73 5.78 17.58 26.33 20.67 21.81 30.49 7.77 17.40 11.48 39.14 26.60 11.04 16.80 33.50 10.87 58.24 54.57 11.47 9.79 12.47 7.14 11.98 11.80 15.48 30.51 19.00 11.92 46.18 9.43 11.66 14.62 24.22

Overall 4 4 3 2 5 2 4 3 4 1 2 3 3 3 2 3 2 5 4 4 4 1 2 2 3 2 1 2 1 3 2 4 4 ▲1 2 4 3 3 3 3 3 3 3 4 5 2 2 3 4 3 5 5 3 2 1 3 3 3 3 5 1 4 2 3 3 3 3 3 4 1 3 3 1 3 3

5 Yr. Growth Risk Persistence YTD 3 4 4 1 ▲ 4 1 4 3 2 3 2 3 2 3 3 5 1 4 4 ▲ 3 ▲ 3 2 1 1 2 ▼ 3 2 5 2 2 3 2 ▼ 4 ▲ 3 2 3 3 3 4 3 3 1 5 3 3 3 2 ▲ 2 3 3 3 4 3 1 1 3 3 4 3 4 3 4 3 ▲ 3 2 4 2 4 2 3 3 2 3 ▼ 5 3

June 3, 2008

▲ ▼

▼

▼

▲ ▼

▲

3 3 3 3 3 4 3 3 4 2 3 4 3 2 2 2 3 3 3 3 4 3 4 4 3 3 1 2 1 4 3 5 2 2 3 4 3 3 3 3 3 5 3 5 4 2 3 2 4 3 3 3 3 3 3 3 3 2 2 4 2 2 1 1 4 1 3 3 4 1 3 2 1 2 4

-4.0 -4.0 -5.6 0.7 -11.6 -1.3 1.8 -4.4 -5.1 -2.7 1.9 -6.3 -3.9 -7.5 -5.1 8.6 1.0 -8.3 -7.6 -4.4 -4.3 -1.9 -0.7 0.5 0.4 2.1 1.3 0.3 1.2 -1.1 -3.5 -5.7 -1.6 -4.9 1.7 -5.0 0.4 -2.3 0.2 -5.4 0.1 -2.1 -11.9 -4.1 -4.9 -2.8 2.3 0.1 -3.8 -0.3 -9.6 -10.8 1.1 2.2 1.6 -4.5 -4.3 0.0 -0.9 -6.5 0.5 -0.7 0.0 -0.2 -4.4 -0.3 0.4 -7.0 -2.4 0.4 -5.6 -0.6 0.7 -8.4 -11.9

Annualized 3 Mos -0.4 3.0 3.9 -0.7 -2.2 1.7 0.2 1.5 0.9 5.2 0.1 2.5 0.8 2.7 -0.5 10.2 -0.2 0.9 0.8 1.0 0.7 2.9 1.9 1.0 -1.0 7.8 5.0 -8.0 5.7 0.0 0.6 -0.2 0.6 3.4 0.1 1.1 -1.0 5.6 -0.7 1.7 -0.8 0.7 5.4 3.7 -2.7 3.9 -0.1 2.5 1.9 4.6 -4.8 0.2 3.1 4.8 0.2 2.0 2.3 -0.8 2.6 -3.7 -0.9 -1.7 -0.5 -1.1 2.2 -0.7 2.7 7.4 -0.7 -0.2 4.7 1.5 -0.2 5.5 -4.9

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-13.2 -8.7 7.4 2.0 -18.6 -3.6 3.4 -14.5 -9.8 -7.0 3.6 -9.2 -7.2 -10.4 -1.9 -6.1 2.0 -14.9 -16.3 -11.5 -9.1 -5.4 -2.6 0.4 1.4 -1.4 -0.2 -5.4 -2.0 -4.0 4.8 -10.2 -4.0 4.3 3.6 -10.9 1.7 -7.2 3.2 -9.9 1.0 -5.2 -17.8 -9.5 -13.4 -4.5 5.4 -6.2 -9.0 -5.0 -16.9 -19.8 -4.7 1.2 2.8 -7.3 -7.0 0.6 -7.9 -16.9 1.1 -2.7 0.6 -0.1 -9.5 0.4 -6.2 -10.1 -9.5 0.9 -10.5 -1.6 1.2 -15.2 -13.8

3.6 10.8 16.6 3.9 9.2 7.9 4.2 6.8 7.7 14.4 4.3 8.9 9.3 12.0 11.6 15.0 4.0 5.8 7.8 6.4 9.4 11.9 9.5 6.9 3.4 13.6 15.5 28.3 15.6 8.1 13.3 6.5 3.8 18.8 4.0 7.3 2.5 9.4 2.7 11.1 2.5 6.3 15.5 7.4 5.4 15.9 4.2 9.6 9.4 10.7 -2.5 4.1 8.3 10.9 4.6 7.4 7.2 2.7 8.9 5.9 2.9 2.5 3.2 3.3 7.5 3.1 8.5 11.2 2.7 3.4 9.7 3.4 3.4 21.6 5.9

13.2 12.6 12.2 2.8 10.6 9.1 3.7 9.6 10.0 17.5 3.5 9.8 12.2 16.2 16.9 20.4 2.8 11.0 12.8 13.3 12.0 13.8 10.3 7.1 3.1 14.5 19.1 22.6 20.8 10.3 13.9 8.3 6.0 18.3 3.4 10.6 2.7 14.2 2.8 13.9 2.7 8.1 15.4 9.8 7.8 16.6 2.1 12.7 12.3 13.9 6.1 8.5 13.7 12.9 4.6 14.6 14.0 4.2 14.8 8.0 3.3 4.3 3.9 4.2 8.3 4.0 11.8 11.9 8.1 4.4 12.7 3.8 4.0 19.3 9.3

10.8 3.7 4.1 4.2 3.0 4.2 5.1 4.5 3.3 5.7 4.8 1.9 3.4 7.8 5.7 13.2 4.4 10.8 6.9 7.1 -1.7 5.0 4.7 5.2 4.7 9.0 13.9 16.5 15.2 4.8 4.2 1.3 3.6 6.0 4.7 3.7 4.2 7.2 4.5 2.6 4.2 3.9 3.4 4.0 1.5 6.3 3.7 8.9 11.0 5.2 6.7 3.9 9.4 9.4 5.6 2.3 10.5 4.4 8.9 7.6 4.4 4.6 4.8 4.8 3.2 4.6 7.4 6.1 3.8 4.7 7.4 — 4.9 1.6 3.3

0.1 0.0 0.0 3.9 0.0 1.8 4.1 2.2 1.4 1.1 3.9 0.0 0.9 0.0 0.4 2.0 4.1 0.0 0.0 1.1 0.0 2.6 2.8 3.6 4.1 0.2 2.0 2.9 3.1 1.2 0.7 0.7 5.9 0.0 3.9 0.6 4.0 0.0 3.5 0.0 3.3 2.0 0.0 3.9 0.9 0.6 4.9 0.3 0.0 1.0 0.0 0.0 1.5 2.7 4.6 0.6 0.4 4.2 1.0 0.0 3.7 4.7 4.2 4.4 0.7 4.1 3.2 0.0 2.2 4.3 0.0 6.2 4.4 0.0 0.1

-16.1 -4.5 23.9 4.5 -10.8 1.2 5.5 -8.7 -5.0 0.4 6.2 4.1 -3.6 -1.0 -0.9 -10.9 5.0 -10.7 -15.1 -11.9 -7.1 2.6 3.6 4.7 3.1 5.1 5.7 20.7 2.2 1.1 7.6 -5.7 -4.8 19.3 5.8 -8.5 3.0 -4.9 2.2 -5.5 2.0 -2.9 -1.1 -6.4 -17.9 3.8 8.1 -9.2 -7.2 -1.4 -24.7 -13.6 -9.3 3.7 5.8 -2.3 -2.0 1.3 -11.7 -15.2 2.6 -3.6 1.8 0.7 -0.8 1.3 -4.5 7.9 -10.7 2.1 3.0 -1.2 2.4 6.0 -7.1

Ownership Costs $$ $$$ $$$ $ $$ $$$ $$ $$$ $$ $$ $$ $$$ $$$ $ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$ $$ $$ $$ $$ $$$ $$$ $$$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$ $$ $$ $$ $$ $$ $ $$$ $$$ $$$ $$ $$ $ $$$ $$ $$$ $$$ $$ $$ $$ $$ $$$ $$ $$$ $$$ $$$ $$ $$$ $$ $$ $$$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 717 212 121 1509 1600 1178 1600 1553 1624 1625 561 1625 1615 1625 1625 733 322 I I 521 1543 I 1006 805 I 1568 785 1179 171 1314 371 522 786 122 I 755 787 718 212 1403 1180 323 324 612 I I 1181 413 1351 923 805 I 1205 1006 1147 I 212 1219 I 1578 1006 I 1403 1148 612 1600 1568 1019 805 1006 I 1568 612 1419 805

Fund Name Franklin Gold & Prec Metals A (FKRCX) Franklin Growth A (FKGRX) Franklin Growth Opportunities A (FGRAX) Franklin High Income A (FHAIX) Franklin High Yield Tax-Free Inc A (FRHIX) Franklin Income A (FKINX) Franklin Insured Tax-Free Inc A (FTFIX) Franklin Ltd Mat US Gov Sec Fd (FRGVX) Franklin MA Ins Tax-Free A (FMISX) Franklin MI Ins Tax-Free Inc A (FTTMX) Franklin Natural Resources A (FRNRX) Franklin New Jersey Tax-Free Inc A (FRNJX) Franklin NY Tax-Free Inc A (FNYTX) Franklin Ohio Ins Tax-Free Inc A (FTOIX) Franklin PA Tax-Free Inc A (FRPAX) Franklin Real Estate Sec A (FREEX) Franklin Rising Dividends A (FRDPX) Franklin Small Cap Growth II A (FSGRX) Franklin Small Cap Value A (FRVLX) Franklin Small-Mid Cap Growth A (FRSGX) Franklin Strategic Income A (FRSTX) Franklin Strategic Mortgage A (FSMIX) Franklin Templeton Conserv Tgt A (FTCIX) Franklin Templeton Growth Tgt A (FGTIX) Franklin Templeton Moderate Tgt A (FMTIX) Franklin US Government Sec A (FKUSX) Franklin Utilities A (FKUTX) Gabelli ABC Fund (GABCX) Gabelli Asset Fd (GABAX) Gabelli Comstock Capital Value A (DRCVX) Gabelli Equity Income Fd (GABEX) Gabelli Small Cap Growth AAA (GABSX) Gabelli Utilities AAA (GABUX) Gabelli Value Fund A (GABVX) GAMCO Global Convertible Fd (GAGCX) GAMCO Global Growth Fd (GICPX) GAMCO Global Telecom AAA (GABTX) GAMCO Gold AAA (GOLDX) GAMCO Growth Fund (GABGX) GAMCO Intl Growth AAA (GIGRX) GAMCO Mathers Fund (MATRX) Gateway Fund (GATEX) GE Institutional Core Val Eq Inv (GEIVX) GE Premier Growth Equity A (GEPCX) GE S&S Income Fund (GESLX) GE S&S Program Mutual Fund (GESSX) GE Strategic Investment Fd A (GESIX) GE US Equity A (GEEQX) George Putnam Fund of Boston A (PGEOX) Glenmede International (GTCIX) Glenmede Large Cap Value Fd (GTMEX) Glenmede Philadelphia Intl (GTIIX) Glenmede Small Cap Equity Adv (GTCSX) Glenmede Strategic Equity (GTCEX) Goldman Sachs Asia Equity A (GSAGX) Goldman Sachs Balanced B (GSBBX) Goldman Sachs Capital Growth A (GSCGX) Goldman Sachs Conctrd Intl Eq A (GSIFX) Goldman Sachs CORE Intl Eq A (GCIAX) Goldman Sachs Glb Income A (GSGIX) Goldman Sachs Growth & Income A (GSGRX) Goldman Sachs High Yield Fd C (GSHCX) Goldman Sachs Intl Small Cap A (GISAX) Goldman Sachs Japanese Equity A (GSJAX) Goldman Sachs Mid Cap Value A (GCMAX) Goldman Sachs Municipal Income A (GSMIX) Goldman Sachs Short Dur Gov Inst (GSTGX) Goldman Sachs Small Cap Value A (GSSMX) Goldman Sachs Struct Lg Cp Gr C (GLCCX) Goldman Sachs Struct US Eq A (GSSQX) Goldman Sachs Tollkeeper A (GITAX) Goldman Sachs Ult Shrt Dur Gov Inst (GSARX) Government Street Equity Fund (GVEQX) Green Century Balanced (GCBLX) Green Century Equity (GCEQX)

PM GR/LG AG CH MB/HY FL MB/IS GS/IT MS MS EN MS MY/LT MS MS RE GI/LV AG GI SC DB GM GI GR AA GM UT FL GR/MV AA IN/LV SC/SG UT AG/VL CV TC/GL UT/GL PM GR/LG FO FL GI/LB GI/LB GR CG GI/LB FL GR/LB BA FO GR/LV FO SC/SV GI/LB PB/NJ BA GR/LB FO FO IB/GL GI/LV CH FO PB/JP GR/MV MB/LT GM/ST SC GR GI/LB TC GM/AJ GR/LB BA GR/LG

NAV 5/21/08 41.86 42.60 20.59 2.02 10.33 2.55 12.12 10.17 11.74 12.13 50.71 12.00 11.65 12.50 10.29 18.35 32.94 9.29 41.84 33.53 10.27 9.32 13.54 15.78 14.21 6.53 14.20 9.93 47.95 2.16 21.31 30.95 8.62 15.73 4.65 26.94 24.04 32.25 35.12 26.09 10.52 28.68 10.88 23.43 11.06 43.26 23.65 26.17 15.29 17.81 10.03 18.18 14.73 18.21 21.71 18.54 23.66 23.38 13.92 12.84 25.85 7.49 18.21 11.53 36.18 14.93 10.02 34.64 12.40 27.30 10.56 9.17 47.49 17.12 20.45

Overall 2 3 3 3 3 2 2 2 2 1 2 2 1 2 ▼2 4 3 5 ▲3 4 1 3 2 3 2 ▲1 2 2 ▼2 4 1 3 2 4 3 1 ▼2 ▼3 3 1 3 2 2 3 3 2 1 2 3 2 3 2 4 3 ▼3 3 4 3 2 2 3 4 4 3 3 4 2 ▲3 5 4 3 3 3 3 5

5 Yr. Growth Risk Persistence YTD 5 3 4 4 3 2 3 2 3 3 5 3 3 ▲ 3 3 5 2 4 3 4 2 2 1 3 2 2 3 1 2 3 2 3 3 3 2 3 3 5 3 3 1 1 2 2 2 2 2 2 1 3 2 3 3 3 5 1 3 3 3 2 2 ▼ 5 4 4 3 5 2 3 3 3 5 1 2 2 3

FR-GR

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 17

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2 3 2 1 2 3 1 3 1 1 1 1 1 1 1 3 4 3 2 3 1 3 4 3 4 3 2 4 2 5 3 2 2 3 4 2 2 2 3 1 5 4 3 5 4 3 3 3 5 2 3 2 3 3 1 5 5 2 1 3 3 2 2 3 2 3 3 3 5 4 3 3 5 5 5

1.8 -5.0 -6.2 1.6 -0.8 -0.4 0.2 2.1 0.3 0.8 6.7 0.6 0.8 0.3 0.1 7.0 -1.7 -11.8 0.4 -7.7 2.4 -0.5 -1.1 -4.2 -2.0 2.1 -5.7 0.4 -5.5 1.4 -4.4 -4.9 -4.9 -9.6 -5.0 -3.2 -11.2 2.6 -5.6 -2.9 0.7 0.3 -4.8 -2.9 -0.4 -4.7 -3.2 -4.8 -4.1 -3.7 -6.8 -3.7 -7.8 -6.9 -5.5 -2.8 -4.6 -5.2 -5.2 -0.8 -2.1 -0.1 -8.9 2.0 -1.6 -0.5 2.8 0.3 -8.6 -6.6 -10.3 0.5 -4.1 -4.9 -6.1

Annualized 3 Mos -6.4 1.6 5.7 2.9 -1.6 1.9 0.0 0.4 -0.2 -0.1 15.9 -0.3 0.0 -0.4 -0.8 9.5 1.7 -1.0 2.9 3.0 2.0 -0.6 1.5 2.2 1.7 0.5 1.1 0.6 1.9 -4.0 1.3 1.2 1.2 -2.7 -1.5 6.7 -3.3 -5.2 5.4 5.4 0.4 2.6 1.8 3.2 -1.7 2.1 2.2 1.9 -2.9 5.0 -0.4 4.9 -1.0 0.6 5.6 -0.7 5.7 4.7 3.5 -2.3 2.5 3.4 0.9 5.1 3.9 -1.3 0.7 4.6 -0.4 -1.1 4.2 -0.3 1.9 -0.5 -0.2

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-7.1 -11.5 -13.4 0.6 -1.6 -2.9 1.1 4.2 1.3 1.9 4.8 1.0 1.6 1.3 0.9 -6.2 -7.1 -19.6 -10.8 -15.6 1.8 0.8 -5.7 -11.7 -8.2 4.1 -5.2 -0.1 -9.1 5.2 -7.4 -9.6 -6.1 -15.3 -13.3 -6.5 -15.8 -7.6 -8.0 -8.8 0.8 -0.9 -7.3 -6.4 1.2 -7.8 -5.7 -8.0 -7.8 -8.9 -9.6 -9.3 -14.6 -9.9 -16.7 -5.8 -9.3 -11.0 -11.8 1.2 -7.0 -3.1 -20.6 -4.4 -5.8 -0.9 4.3 -7.7 -13.7 -12.5 -12.4 1.3 -8.4 -7.1 -11.4

38.9 9.5 14.6 7.0 3.0 9.5 3.2 4.3 3.1 3.6 31.1 3.4 3.4 3.4 3.3 -2.7 6.2 5.1 7.9 10.2 6.5 3.2 7.1 9.8 8.2 4.5 13.0 7.9 11.6 -6.6 10.0 11.3 10.2 6.7 6.7 14.4 14.4 38.1 11.1 14.8 2.2 7.7 10.1 6.2 2.4 8.9 9.8 8.2 4.7 14.9 7.0 14.6 8.3 7.8 24.4 5.4 7.9 13.1 16.1 3.0 8.9 4.1 8.5 9.9 10.3 1.8 4.2 8.5 3.9 5.9 14.1 3.4 7.6 6.7 5.6

31.4 12.2 16.1 9.4 5.1 11.7 3.8 2.9 3.7 3.8 32.2 4.1 3.8 3.8 3.8 9.5 8.9 10.6 14.7 12.6 7.8 3.3 8.2 12.2 9.8 3.9 16.8 6.0 14.7 -11.0 13.1 15.6 14.4 10.2 8.0 16.2 17.6 28.0 11.7 18.8 1.1 7.4 11.5 7.8 2.7 9.9 9.7 9.3 7.1 19.8 12.4 18.9 12.5 9.7 28.0 6.9 8.1 16.2 20.3 2.6 12.8 6.4 19.7 13.7 15.9 3.3 3.2 13.4 7.1 9.8 13.8 2.7 9.8 10.1 7.7

16.6 4.9 — 5.0 4.3 8.3 4.8 4.4 4.7 4.9 14.0 4.8 4.8 4.7 4.6 6.9 6.0 — 6.0 5.3 6.4 5.4 5.8 5.5 5.6 5.2 8.9 6.3 8.5 -5.3 8.0 9.1 — 7.0 5.1 7.0 7.8 17.6 2.8 6.4 0.3 5.8 3.4 5.1 5.0 4.9 6.2 4.3 4.0 8.0 4.8 6.8 5.9 2.5 10.2 2.3 2.8 4.1 6.2 4.0 2.1 4.2 — — 9.2 4.1 4.8 7.2 -0.5 3.0 — 3.9 3.6 4.2 2.1

4.8 0.3 0.0 7.4 5.0 5.6 4.1 3.9 4.0 4.1 1.0 4.1 4.2 3.9 4.1 2.3 1.3 0.0 0.8 0.0 6.4 5.4 1.6 0.4 1.2 4.7 2.5 1.5 0.3 2.6 1.5 0.0 9.5 0.0 3.7 0.3 1.0 2.4 0.0 1.3 2.7 1.8 1.2 0.0 4.1 1.5 1.6 0.8 3.4 1.9 1.6 2.0 0.2 0.4 0.6 2.0 0.0 1.1 3.1 3.2 1.4 5.8 2.7 0.0 0.5 4.0 2.1 0.0 0.0 1.1 0.0 2.8 1.2 1.6 0.9

21.6 -3.2 8.2 0.5 -2.0 -1.4 2.4 6.9 2.2 3.5 30.4 2.2 3.0 2.7 2.0 -22.2 -6.4 -14.7 -11.8 -6.2 4.8 1.7 0.3 -3.2 -1.1 6.6 -1.3 4.1 -1.9 5.7 -1.5 -4.3 -2.8 -10.9 -7.6 7.4 -3.5 26.7 6.7 1.0 2.5 4.3 -0.7 -1.8 2.9 -1.5 2.7 -1.9 -6.9 -2.5 -7.5 -3.1 -9.1 -2.9 25.5 -3.0 -1.0 -2.9 -4.8 4.2 -6.4 -4.4 -18.0 -2.4 -7.1 -2.0 5.6 -9.0 -10.5 -11.1 9.8 1.5 -1.6 -4.3 -7.3

Ownership Costs $$$ $$$ $$$ $$ $$ $$ $$ $$ $$ $$ $$$ $$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$$ $$ $$ $$ $$$ $$$ $$ $$ $$ $$ $$ $$ $ $ $$$ $ $ $$$ $$$ $$$ $$ $ $ $ $ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$$ $ $$$ $$ $$$ $$$ $ $ $$ $

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

GR-IN

Page 18

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 1182 1149 1150 325 924 1526 212 1219 925 1007 1526 613 1410 819 123 326 969 592 413 124 213 1205 1206 213 414 523 327 1113 213 I 1419 125 I 820 213 1206 1569 1420 1526 806 372 1007 I 806 1527 1007 806 1206 126 1527 613 373 1411 1569 172 I 374 I I 1114 I 756 I I 788 1420 1007 1219 580 I 970 1569 1008 I 926

Fund Name Greenspring Fund (GRSPX) Guinness Atkinson Asia Focus Fund (IASMX) Guinness Atkinson China & HK Fund (ICHKX) Hancock Horizon Value C (HHGCX) Hansberger Intl A (NEFDX) Harbor Bond Inst (HABDX) Harbor Capital Appreciation Inst (HACAX) Harbor International Growth Fd Inst (HAIGX) Harbor International Inst (HAINX) Harbor Large Cap Value Inst (HAVLX) Harbor Short Duration Inst (HASDX) Harbor Small Cap Growth Inst (HASGX) Harding Loevner Global Equity (HLMGX) Hartford Advisers A (ITTAX) Hartford Capital Apprec A (ITHAX) Hartford Dividend & Growth A (IHGIX) Hartford Global Growth A (HALAX) Hartford Global Health Y (HGHYX) Hartford Growth Fund L (FECLX) Hartford Growth Opportunity L (FGRWX) Hartford MidCap Fd A (HFMCX) Hartford Small Company A (IHSAX) Hartford SmallCap Growth L (FACAX) Hartford Stock A (IHSTX) Heartland Select Value Fd (HRSVX) Heartland Value Fund (HRTVX) Heartland Value Plus Fund (HRVIX) Henderson European Focus A (HFEAX) Hennesey Cornerstone Growth II (HENLX) Hennessy Balanced Fund (HBFBX) Hennessy Total Return Fund (HDOGX) Heritage Capital Appreciation A (HRCPX) Heritage Diversified Growth A (HAGAX) Heritage Growth & Income A (HRCVX) Heritage Mid Cap Stock A (HMCAX) Heritage Small Cap Stock A (HRSCX) Highland Cap Floating Rate Fund A (XLFAX) HighMark Balanced Fund Fid (HMBAX) HighMark Bond Fund Fid (HMBDX) HighMark Large Cap Growth Ret A (HMRGX) HighMark Large Cap Value Fid (HMIEX) HighMark Value Momentm Fund Fid (HMVMX) Hilliard-Lyons Senbanc Fund (SENBX) Hodges Fund (HDPMX) Homestead Short Term Bond (HOSBX) Homestead Value Fund (HOVLX) Hotchkis and Wiley Mid-Cap Val I (HWMIX) Hotchkis and Wiley Small Cap Val I (HWSIX) HSBC Investor Opportunity A (HSOAX) Huntington Fixed Income Sec Tr (HFISX) Huntington Growth Tr (HGWTX) Huntington Income Equity Tr (HIEFX) Huntington International Equity B (HUIBX) Huntington Mortgage Secs Tr (HMTGX) Hussman Strategic Growth (HSGFX) ICON Asia-Pacific Region (ICARX) ICON Core Equity I (ICNIX) ICON Energy (ICENX) ICON Equity Income C (IOECX) ICON Europe Fund (ICSEX) ICON Financial (ICFSX) ICON Information Technology (ICTEX) ICON Leisure & Consumer Staple (ICLEX) ICON Materials (ICBMX) ICON Telecommunications & Utilities (ICTUX) ING Balanced I (AETFX) ING Corporate Leaders Trust Fd B (LEXCX) ING Emerging Countries A (NECAX) ING Financial Services B (PBTBX) ING Global Natural Resources A (LEXMX) ING Global Value Choice A (NAWGX) ING GNMA Income A (LEXNX) ING Growth and Income I (AEGIX) ING International Growth Opps A (LEXIX) ING International SmallCap A (NTKLX)

Inv. Obj./Peer FL/VL PB/NJ PB/NJ GI FO CG GR/LG FO FO GI/LV CG/ST GR/SG GL GI AG GI GL HL GR/LG AG/MG GR/MB SC SC/SG GR GR SC/SV GI/SV EU GR BA BA AG/LG AG GI/VL GR/MG SC/SB GM BA CG GR/LG IN/LV GI/LB FS GR CG/ST GI/VL GR/MV SC/SV AG CG GR/LB IN/LV GL GM GR PB IN EN GI EU FS TC OT OT UT BA GI/LB FO/EM FS PM GL GM GI/LB FO FO

NAV 5/21/08 24.12 22.91 39.16 24.40 21.55 12.24 35.24 15.66 72.98 9.34 8.03 11.99 24.51 15.19 39.98 20.52 19.60 16.73 18.48 30.62 21.50 19.14 26.34 21.49 27.31 41.62 25.15 33.87 20.03 10.65 11.60 29.62 28.36 13.63 26.81 31.35 8.68 13.49 10.74 9.76 13.16 19.56 9.58 27.47 5.07 33.50 20.33 34.09 10.96 21.27 33.84 24.17 14.42 9.08 15.45 13.79 13.70 36.75 13.30 19.54 10.03 9.69 8.31 13.63 7.85 11.92 23.45 36.01 15.80 13.02 27.08 8.49 12.64 12.14 48.14

Overall 2 3 ▼3 ▲2 1 ▲1 3 2 1 2 2 3 1 3 1 2 3 3 3 2 3 3 5 4 3 4 3 ▲1 5 3 3 3 2 1 2 4 3 ▲2 1 3 3 3 5 3 4 3 4 4 2 ▲2 3 4 1 2 2 3 4 2 4 2 4 4 3 2 2 3 1 1 5 2 1 2 3 1 3 ▼

5 Yr. Growth Risk Persistence YTD 1 5 5 3 3 3 3 4 4 2 1 4 3 1 3 2 4 3 3 4 3 4 4 3 3 4 ▲ 3 4 5 1 2 3 4 2 3 4 3 1 2 3 3 2 3 4 1 2 4 4 ▼ 4 3 3 2 3 3 1 5 4 5 3 4 3 4 3 5 3 1 3 3 3 5 3 3 2 3 4

June 3, 2008

▲

▲

▲

▲

4 1 2 2 1 2 3 2 1 3 3 3 2 4 1 3 3 3 4 2 2 2 3 4 2 3 3 1 3 4 3 3 3 2 2 3 2 4 3 4 2 3 5 2 4 2 2 3 2 3 4 4 1 2 4 2 3 2 4 1 3 4 3 2 2 5 2 1 4 2 2 3 3 1 1

-1.5 -7.5 -8.8 -4.6 -3.0 3.6 -6.0 -5.3 -0.6 -1.2 -0.7 -6.4 -2.0 -3.8 -3.8 -3.3 -8.8 -8.3 -7.8 -10.2 -2.1 -9.0 -6.9 -6.4 -2.8 -5.3 6.6 -2.9 -10.1 -2.8 -5.0 -5.3 -1.4 -10.9 -5.4 -6.7 -5.2 -3.4 2.1 -6.7 -5.7 -3.3 -3.5 -3.0 -2.5 -6.6 -1.8 2.0 -1.1 2.2 -6.2 -7.0 -2.3 2.8 -1.5 -10.3 -10.9 0.0 -7.0 -7.9 -13.9 -13.9 -7.1 -0.2 -8.8 -4.9 -0.2 1.4 -5.1 5.1 -2.4 2.1 -6.2 -4.5 -3.6

Annualized 3 Mos 0.9 5.8 5.6 3.9 5.9 0.6 3.4 4.3 9.1 2.9 -1.5 6.5 5.9 0.0 4.5 2.0 2.8 -3.0 3.3 0.4 6.4 1.0 0.9 0.0 2.0 2.5 14.1 4.7 2.5 -2.2 -3.8 5.7 7.6 -3.2 2.6 2.3 -2.7 0.4 0.3 1.7 -1.0 0.5 -8.9 4.8 -2.9 0.0 -0.6 6.3 5.8 -0.1 3.6 -1.9 5.9 1.2 -0.2 0.7 -0.5 16.2 0.0 4.7 -8.7 -0.8 2.7 6.7 -1.5 -1.4 6.5 6.7 -3.2 15.5 -0.3 0.4 2.4 3.2 6.7

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-4.2 -21.0 -23.6 -6.7 -8.7 6.5 -9.7 -11.4 -5.4 -5.3 0.2 -9.4 -5.7 -7.1 -7.8 -6.5 -13.0 -10.0 -10.8 -13.5 -6.9 -13.6 -14.1 -12.2 -9.1 -13.0 0.4 -9.7 -17.6 -6.9 -11.7 -9.0 -4.1 -13.9 -9.0 -12.0 -7.4 -6.3 4.0 -9.9 -11.5 -8.5 -15.8 -9.8 -2.5 -11.9 -11.8 -6.8 -3.0 4.2 -7.4 -11.3 -3.8 2.9 -0.6 -19.7 -13.2 3.1 -11.3 -12.5 -18.0 -19.3 -10.9 -4.0 -10.5 -6.7 -2.9 -6.7 -13.7 3.5 -8.7 4.0 -9.5 -8.6 -17.8

9.0 29.1 30.7 10.7 18.4 5.9 9.7 21.6 25.6 8.9 3.6 11.2 17.2 7.1 16.3 10.7 13.4 8.2 8.5 17.7 14.9 14.6 4.6 8.2 11.5 9.7 12.6 20.6 1.1 5.0 6.1 11.7 15.5 10.9 12.0 10.3 2.7 6.2 4.5 8.4 7.8 9.4 -7.3 15.9 1.5 8.3 3.1 0.1 19.4 4.4 7.5 3.2 17.5 4.6 3.5 21.2 5.7 26.9 4.9 20.4 2.2 7.1 2.2 21.7 12.6 5.0 12.4 22.2 2.6 39.2 16.1 4.8 8.8 16.1 19.2

10.5 32.4 33.3 14.9 20.2 5.2 10.6 20.2 26.3 12.8 2.7 13.7 16.7 7.4 19.2 12.8 14.7 11.4 10.2 18.1 16.5 17.1 12.2 8.9 16.1 16.0 16.6 29.5 12.7 5.0 7.9 10.8 14.9 12.9 13.5 14.0 5.2 7.3 4.2 7.9 12.9 12.6 -0.4 24.2 1.5 12.7 14.3 13.1 18.3 3.7 8.4 8.3 20.0 5.0 7.5 23.0 10.9 32.1 9.7 23.2 9.0 9.3 8.2 24.4 16.2 6.9 15.6 25.6 7.0 27.7 16.1 4.0 12.1 18.2 24.2

5.8 10.2 14.9 — 8.2 6.7 3.4 0.2 11.5 5.5 4.0 — 6.0 4.1 11.5 6.1 — — 5.0 8.6 14.2 7.0 6.6 2.9 9.9 9.6 8.7 — 6.6 — — 6.3 — 4.0 10.5 4.9 — 2.5 5.4 -2.2 2.9 4.9 — 8.1 3.6 5.8 11.6 7.8 8.8 5.0 2.1 2.9 — 5.7 — 7.3 — 19.1 — 7.4 6.0 8.5 7.3 7.2 7.1 3.9 7.1 8.3 2.5 15.4 6.3 5.5 1.7 7.7 13.0

2.4 1.3 1.5 0.1 1.7 5.1 0.3 1.3 1.4 1.2 5.4 0.0 0.3 1.7 0.0 1.3 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.1 0.6 0.5 1.1 2.3 0.0 2.8 2.6 0.0 0.0 2.2 0.0 0.0 7.8 2.1 4.6 0.2 1.5 1.3 5.4 0.0 0.4 2.4 0.8 0.0 0.0 3.9 0.3 2.0 0.3 3.9 0.6 0.7 0.0 0.3 0.9 0.9 1.2 0.0 1.3 0.4 0.7 2.5 5.9 1.1 0.1 0.8 0.6 4.4 0.9 0.1 0.6

0.4 23.4 39.0 -4.1 4.9 10.6 1.9 9.2 12.2 2.3 2.3 0.7 6.4 -1.9 8.0 -1.4 8.1 -9.0 4.1 6.5 1.9 -5.5 -14.2 -6.4 -7.7 -13.0 -1.7 -1.5 -20.3 -3.4 -7.2 0.2 12.3 -0.7 -1.3 -6.2 -8.1 -1.7 6.4 -2.2 -11.5 -5.3 -27.9 -2.8 -2.4 -10.2 -24.0 -22.2 13.0 6.7 3.6 -10.2 6.9 4.0 1.4 5.0 -5.2 24.8 -4.0 -4.6 -19.7 -2.2 -1.5 18.3 0.5 -4.0 4.3 8.2 -19.2 29.8 4.3 6.3 -3.2 5.7 -8.8

Ownership Costs $$ $$ $$ $$ $$$ $ $ $ $ $ $ $ $$ $$$ $$$ $$$ $$$ $ $$ $$ $$$ $$$ $$ $$$ $$ $$ $$ $$$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$ $ $ $$$ $ $ $$ $$ $ $ $$ $$ $$$ $$ $$ $$ $$$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $ $$$ $$$ $$$ $$$ $$ $ $$$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Total Return Through 4/30/08

Value Line Rankings Page 927 806 613 I 1403 1206 1315 1316 1600 1553 1183 1420 1008 971 1115 I I 1420 1219 1151 I 1020 414 414 613 1421 1527 1586 214 614 I I 593 1509 I 807 614 I 581 I 820 1543 1601 757 614 1184 1421 I 375 1220 127 1411 1352 I 1353 214 1543 173 1008 I 972 328 I 614 928 128 1527 524 174 1020 973 214 414 I I

Fund Name ING International Value A (NIVAX) ING LargeCap Growth A (NLCAX) ING MidCap Opportunities B (NMCBX) ING Real Estate A (CLARX) ING Russia Fund (LETRX) ING Small Company A (AESAX) ING Strategic Allocation Conserve I (ALEGX) ING Strategic Allocation Growth I (ASCEX) ISI Managed Municipal Fund (MUNIX) ISI Total Return US Treasury (TRUSX) Ivy Asset Strategy C (WASCX) Ivy Balanced Fund A (IBNAX) Ivy Core Equity C (WTRCX) Ivy Cundill Global Value A (ICDAX) Ivy European Opportunities A (IEOAX) Ivy Global Natural Resources A (IGNAX) Ivy High Income C (WRHIX) Ivy International Balanced A (IVBAX) Ivy International Growth Fd A (IVINX) Ivy Pacific Opportunities A (IPOAX) Ivy Science & Tech C (WSTCX) Ivy Small Cap Growth C (WRGCX) IXIS CGM Advisor Trgt Eqty A (NEFGX) IXIS U.S. Diversified Portfolio A (NEFSX) IXIS Westpeak Capital Growth A (NEFCX) J Hancock Balanced A (SVBAX) J Hancock Bond Fund A (JHNBX) J Hancock CA Tax-Free Income A (TACAX) J Hancock Classic Value A (PZFVX) J Hancock Core Equity A (JHDCX) J Hancock Financial Indust A (FIDAX) J Hancock Government Inc B (TSGIX) J Hancock Health Sciences A (JHGRX) J Hancock High Yield Fund B (TSHYX) J Hancock High Yield Muni Bond B (TSHTX) J Hancock Large Cap Equity A (TAGRX) J Hancock Large Cap Select A (MSBFX) J Hancock MA Tax Free Income A (JHMAX) J Hancock Regional Bank B (FRBFX) J Hancock Small Cap Equity A (SPVAX) J Hancock Sovereign Investors A (SOVIX) J Hancock Strategic Income A (JHFIX) J Hancock Tax Free Bond A (TAMBX) J Hancock Technology A (NTTFX) J Hancock US Glob Lead Gr A (USGLX) James Balanced: Golden Rainbow Fd (GLRBX) Jamestown Balanced Fund (JAMBX) Janus Adviser Balanced I (JABRX) Janus Adviser Fundamental Eq (JADEX) Janus Adviser Intl Growth I (JIGRX) Janus Adviser Mid Cap Gr S (JGRTX) Janus Adviser Worldwide I (JWGRX) Janus Aspen Balanced Inst (JABLX) Janus Aspen Worldwide Growth Inst (JAWGX) Janus Balanced Fund (JABAX) Janus Enterprise Fund (JAENX) Janus Flexible Bond Fund (JAFIX) Janus Fund (JANSX) Janus Fundamental Equity (JAEIX) Janus Global Life Sciences Fund (JAGLX) Janus Global Opportunities Fund (JGVAX) Janus Growth & Income Fund (JAGIX) Janus High-Yield Bond Fund (JAHYX) Janus Mid Cap Value Fund Inv (JMCVX) Janus Overseas Fund (JAOSX) Janus Research Fund (JAMRX) Janus Short-Term Bond Fund (JASBX) Janus Small Cap Val Fund Inst (JSIVX) Janus Twenty Fund (JAVLX) Janus Venture Fund (JAVTX) Janus Worldwide Fund (JAWWX) Jennison 20/20 Focus Fd A (PTWAX) Jennison Blend B (PBQFX) Jennison Conservative Growth A (TBDAX) Jennison Financial Svcs A (PFSAX)

Inv. Obj./Peer FO GR GR/MG RE FO/EM SC/SV AA AA MB/LT GS/LT FL BA GI GL EU EN CH BA FO PB/NJ TC SC/SG GR/LB GR/LG GR/LG BA CG MC/LT GR GR/LB FS GM HL CH MB/HY GR GR MS FS SC/SV GI/LB DB MB/LT TC GR/LG FL BA BA IN FO AG GL BA GL BA GR DB GR/LB GI/GW HL GL GI/LG CH GR/MV FO AG CG/ST SC/SV GR/LG SC/SG GL GR GR/LB FS FS

NAV 5/21/08 17.43 22.11 15.05 14.77 75.75 12.93 10.13 11.30 10.64 9.71 27.36 17.16 9.43 13.31 36.74 42.69 8.34 16.81 38.42 18.76 27.94 10.20 12.55 23.83 11.67 16.39 14.53 10.55 19.67 32.37 12.88 9.23 31.80 4.54 8.16 32.67 16.99 12.47 19.02 19.00 17.49 6.47 9.98 3.44 27.12 18.64 13.63 26.50 19.03 66.46 38.37 33.48 30.64 32.82 25.72 57.87 9.66 30.92 24.99 22.38 13.70 35.38 9.03 23.06 54.32 29.98 2.88 22.32 78.44 47.07 50.82 16.05 17.91 7.56 9.02

Overall 2 3 2 ▲3 1 3 ▲2 3 3 3 1 2 2 3 3 1 3 1 1 2 2 4 ▼2 3 5 1 3 3 4 5 5 4 4 4 3 1 3 2 5 ▼5 2 ▲1 3 5 3 2 2 2 2 1 1 3 ▲1 3 2 1 4 3 2 2 3 3 4 2 1 2 3 3 1 3 3 2 2 3 5

5 Yr. Growth Risk Persistence YTD 3 4 3 5 5 3 1 2 4 4 3 1 3 ▼ 3 4 5 ▼ 4 2 4 5 3 4 3 3 3 2 2 4 3 3 3 5 3 5 3 4 2 3 3 4 ▲ 1 2 4 4 3 1 1 1 3 4 3 3 1 3 1 3 3 3 3 3 3 3 4 2 5 3 1 3 3 5 3 3 3 3 ▼ 4

IN-JE

Page 19

▼

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2 4 3 2 1 3 4 5 3 3 2 3 3 3 1 1 2 2 2 1 2 3 2 3 5 3 3 2 3 5 3 4 4 2 2 2 4 3 4 3 3 2 2 5 5 3 4 3 2 1 2 3 3 3 3 2 4 3 2 3 3 3 2 2 1 3 4 3 2 2 3 2 3 4 3

-4.9 -8.1 -5.3 8.5 -5.6 -4.3 -2.5 -5.4 1.2 3.9 -1.5 -2.4 -4.9 -3.3 -5.0 2.3 -0.1 -1.4 -7.3 -11.6 -4.5 -7.7 -4.1 -6.8 -10.1 0.9 0.1 -0.6 -6.9 -8.2 -11.0 -4.8 -10.4 -9.4 -0.6 7.8 -5.4 0.6 -5.2 -17.4 -3.9 1.8 -1.4 -12.9 -4.3 0.2 -3.3 0.3 -6.6 4.6 -0.4 -5.9 0.5 -5.7 0.4 -0.9 1.0 -5.7 -6.7 -6.5 -7.3 -5.0 -2.3 -0.1 2.3 -4.0 0.0 -1.8 3.0 -17.9 -5.9 -0.6 -5.3 -5.4 -10.0

Annualized 3 Mos 0.2 3.1 2.5 10.3 8.9 1.4 -1.1 0.0 -0.3 2.1 1.0 1.8 4.5 -0.3 5.1 13.9 2.9 3.2 3.2 5.8 2.6 2.1 4.1 1.7 -1.7 4.0 -0.4 -1.7 -5.2 -0.8 -6.1 0.5 -4.2 -7.7 -1.9 10.2 -1.6 -0.7 -9.7 -7.9 1.1 1.6 -2.7 1.2 -0.9 1.5 1.8 2.4 0.3 9.2 6.8 -1.4 2.7 -1.2 2.3 6.8 -0.3 1.2 1.0 -2.5 -4.3 2.6 0.3 1.9 8.0 3.7 -0.3 1.0 11.3 -6.5 -1.3 7.0 2.7 1.6 -4.9

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-8.9 -11.0 -5.2 -6.3 -1.3 -10.1 -3.0 -8.5 2.3 6.4 0.9 -4.0 -7.7 -7.1 -11.1 1.6 -1.9 -4.5 -11.8 -19.2 -8.6 -15.3 -3.9 -10.6 -17.9 1.0 1.1 -0.8 -18.0 -12.3 -17.1 4.9 -14.3 -15.8 -1.6 6.3 -8.1 0.7 -16.3 -23.9 -6.8 1.7 -1.7 -18.1 -8.0 0.1 -4.1 -2.0 -10.7 -1.6 -2.7 -13.5 -1.8 -13.4 -1.7 -3.6 2.5 -9.2 -10.8 -6.6 -15.0 -11.9 -5.2 -3.8 -4.0 -7.1 0.3 -5.9 2.4 -24.5 -13.6 -6.2 -1.7 -9.1 -17.2

14.9 8.1 13.7 12.6 48.4 11.6 5.3 7.0 3.1 5.2 26.5 9.4 10.1 6.9 15.4 35.8 6.0 11.7 19.3 28.3 15.1 7.3 17.2 11.2 1.9 17.6 3.5 2.4 2.1 6.1 5.1 3.5 2.8 3.9 2.1 27.7 4.3 2.4 -2.4 3.2 8.0 4.8 2.2 1.9 3.3 8.1 7.8 10.5 11.7 37.6 18.1 9.8 10.9 10.5 10.6 17.9 2.6 10.1 11.8 8.8 7.9 9.3 1.5 12.1 38.2 14.1 2.1 9.2 23.2 10.3 10.2 15.8 15.7 9.2 5.6

21.6 10.4 13.5 15.8 40.0 14.5 6.5 9.6 3.1 4.2 19.9 9.7 10.3 14.6 26.3 37.0 6.4 16.7 18.1 30.2 16.4 10.3 19.0 13.3 4.4 14.2 3.8 3.3 9.3 8.6 8.1 2.3 7.5 7.3 3.7 20.1 5.9 3.3 4.0 9.2 8.4 6.2 3.4 3.9 5.1 10.8 7.8 9.5 12.4 32.9 18.4 10.7 9.7 11.2 9.6 18.6 3.0 9.7 12.5 11.9 14.3 10.6 3.8 16.9 33.4 13.9 2.1 13.8 20.5 16.0 11.3 17.2 14.9 9.0 8.7

11.0 3.6 — — 20.4 7.0 3.8 2.8 4.3 5.7 12.9 4.1 3.1 — — 18.6 4.7 7.9 3.2 12.0 12.7 7.4 6.3 5.9 -1.6 5.5 5.2 4.3 6.4 2.1 2.4 4.2 4.6 2.9 3.0 7.8 3.7 4.5 1.6 5.3 3.1 5.6 3.9 -3.7 3.0 7.2 3.6 7.7 7.8 14.0 6.8 3.6 7.9 3.7 7.4 7.1 4.5 3.2 7.7 — — 6.1 3.7 — 13.7 7.0 3.7 10.4 8.3 7.4 3.3 — 4.3 — —

1.0 0.0 0.0 2.7 0.0 0.2 3.2 1.7 4.0 5.2 0.0 1.1 0.0 1.1 1.2 1.1 6.9 3.0 0.2 0.2 0.0 0.0 0.9 0.0 0.0 1.5 5.4 3.9 1.8 0.0 0.5 3.9 0.0 5.9 3.8 0.0 0.5 3.6 1.5 0.0 1.0 5.3 2.2 0.0 0.0 2.3 1.8 2.4 1.6 2.1 0.0 0.2 2.5 0.8 2.3 0.0 0.0 0.5 2.7 0.0 2.3 3.1 0.7 4.1 2.3 0.1 0.0 5.5 0.2 3.3 0.5 0.0 0.0 0.0 1.2

-5.3 3.6 9.1 -11.4 20.5 -5.8 -0.2 -5.3 3.6 9.3 30.2 5.7 3.0 -8.8 -4.2 31.3 -1.3 1.9 5.6 20.2 11.9 -6.0 23.3 -1.4 -17.3 14.8 2.9 -0.5 -23.9 -10.2 -18.6 7.0 -11.1 -14.9 -3.3 29.0 -4.4 1.9 -22.3 -17.6 -0.4 3.9 -1.4 -6.8 -1.6 4.7 2.9 4.7 -1.8 22.9 10.4 -5.4 5.4 -4.8 5.2 10.5 2.5 0.8 -1.8 2.7 -5.2 -2.4 -8.6 -0.1 21.3 6.4 0.0 -3.5 30.9 -11.3 -5.2 3.4 6.9 2.5 -16.7

Ownership Costs $$$ $$$ $$$ $$$ $$$ $$$ $$ $ $$ $$ $$ $$$ $$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$ $ $ $$ $ $$ $ $ $ $ $ $ $ $ $ $$ $ $ $ $ $ $ $ $ $ $ $$$ $$$ $$$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

JE-LE

Page 20

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 214 594 562 1207 789 415 329 415 1543 I 415 1020 175 1421 1220 376 377 1008 1554 820 I 1528 1403 1404 I 1116 615 1354 330 215 I 415 215 1601 I I 1554 I 1207 1207 1207 615 807 734 I 615 1404 I 525 I 378 758 I 1404 I 1020 807 615 929 1220 I 1021 129 1421 416 I 616 1544 215 I 1554 616 I 1528 1528

Fund Name Jennison Growth A (PJFAX) Jennison Health Sciences A (PHLAX) Jennison Nat Resources B (PRGNX) Jennison Small Company B (CHNDX) Jennison Utility B (PRUTX) Jennison Value B (PBQIX) Jensen Portfolio J (JENSX) JPMorgan Capital Growth Fund A (VCAGX) JPMorgan Core Bond Fund A (PGBOX) JPMorgan Core Plus Bond Fund A (ONIAX) JPMorgan Disciplined Equity I (JPIEX) JPMorgan Divers Mid Cap Growth Sel (HLGEX) JPMorgan Divers Mid Cap Value Sel (HLDEX) JPMorgan Diversified Fund I (JPDVX) JPMorgan Emerging Mkts I (JMIEX) JPMorgan Equity Income Fund Sel (HLIEX) JPMorgan Equity Income II Sel (VEISX) JPMorgan Equity Index Fund A (OGEAX) JPMorgan Govt Bond Fund A (OGGAX) JPMorgan Growth and Income A (VGRIX) JPMorgan High Yield Bond Fund A (OHYAX) JPMorgan Intermediate Bond A (OGBAX) JPMorgan Intl Equity Fund Sel (VSIEX) JPMorgan Intl Equity Index Fund Sel (OIEAX) JPMorgan Intl Value Fund I (JNUSX) JPMorgan Intrepid European Fund A (VEUAX) JPMorgan Intrepid Mid Cap A (PECAX) JPMorgan Investor Balanced Fund A (OGIAX) JPMorgan Investor Gr & Inc Fund A (ONGIX) JPMorgan Investor Growth Fund A (ONGAX) JPMorgan Japan Fund A (CVJAX) JPMorgan Large Cap Growth A (OLGAX) JPMorgan Large Cap Value Fund Sel (HLQVX) JPMorgan Muni Income Fund Sel (HLTAX) JPMorgan NY Tax Free Bond Fund A (VANTX) JPMorgan Realty Income Instl (URTLX) JPMorgan Short Duration Bond Sel (HLLVX) JPMorgan Short Term Bond Fd II Sel (TRSBX) JPMorgan Small Cap Equity Fund A (VSEAX) JPMorgan Small Cap Growth Fund A (PGSGX) JPMorgan Small Cap Value Fund A (PSOAX) JPMorgan Tax Aware US Equity Sel (JPTAX) JPMorgan U.S. Equity Fund I (JMUEX) JPMorgan U.S. Real Estate Fund A (SUSIX) JPMorgan US Small Company Fund I (JUSSX) JPMorgan Value Opportunities Fd A (JVOAX) Julius Baer International Equity A (BJBIX) Julius Baer Total Return Bond A (BJBGX) Keeley Small Cap Value Fund (KSCVX) Kelmoore Strategy Eagle A (KSEAX) Kelmoore Strategy Fund A (KSAIX) Kinetics Internet Fund NL (WWWFX) Kinetics Paradigm Fund NL (WWNPX) Laudus International MarketMasters (SWOIX) Laudus Rosenberg Intl SmCap Inst (ICSIX) Laudus Rosenberg US Sm Cap I (USCIX) Laudus Rosenberg Val L/S Inv (BRMIX) Laudus US MarketMasters (SWOGX) Lazard Emerging Markets Inst (LZEMX) Lazard Intl Equity Inst (LZIEX) Lazard Intl Small Cap Inst (LZISX) Lazard Small Cap Inst (LZSCX) Legg Mason Aggressive Growth A (SHRAX) Legg Mason Allocation Bal Port A (SBBAX) Legg Mason American Lead Co Prim (LMALX) Legg Mason Convertible B (SCVSX) Legg Mason Divers Large Cap Gr A (CFLGX) Legg Mason Divers Strategic Inc B (SLDSX) Legg Mason Fundamental Value A (SHFVX) Legg Mason Global Income Trust (LMGGX) Legg Mason Govt Securities A (SGVAX) Legg Mason Growth Trust Prim (LMGTX) Legg Mason Inflation Management A (SBGLX) Legg Mason Invest Grade Inc Prim (LMIGX) Legg Mason Investment Grade Bd B (HBDIX)

Inv. Obj./Peer

NAV 5/21/08

GR 17.21 HL 19.52 EN 60.46 SC/SB 16.31 UT 14.17 GR/LV 17.70 GI/LB 26.57 GR/SB 40.05 DB 10.86 CG/IT 7.74 GR 16.94 SC 22.40 GR/MV 9.72 BA 14.04 FO/EM 25.25 IN/LB 10.01 IN 11.95 GI/LB 31.67 GS/IT 10.43 GI/LV 30.76 CH 7.79 CG/IT 10.54 FO 31.73 FO 28.77 FO 17.77 EU 27.42 GR/MB 15.11 BA 12.41 GI 13.79 GR 15.16 PB/JP 6.46 GR/LG 20.33 GR/LV 11.93 MB/LT 9.71 MY/LT 7.09 RE 11.51 GS/ST 10.72 CG/ST 9.45 SC/SB 28.31 SC/SG 9.29 SC/SV 18.76 GR 16.99 GR/LB 10.35 RE 18.50 SC/SB 8.83 GR/LV 16.18 FO 42.33 CG 13.52 SC/SV 29.65 IN 7.75 IN 24.19 TC 31.87 GL 28.03 FO 21.14 FO 18.28 SC/SB 9.74 GR 10.45 GR 13.41 FO/EM 23.88 FO 16.56 FO 10.46 SC/SV 11.08 AG/GW 112.41 BA 12.12 GR 19.53 CV 15.48 GR/LG 15.61 DB 6.31 GR/LV 14.66 IB/GL 8.71 GS/LT 9.58 GR 29.56 IB/GL 11.48 CG 9.89 CG 11.43

Overall 3 2 1 3 1 3 3 3 2 1 4 3 3 2 1 3 3 4 3 4 3 2 1 1 2 2 4 ▲2 3 3 4 3 4 1 2 3 1 3 3 3 3 4 2 3 4 4 ▲1 1 3 5 5 3 2 2 3 ▼5 3 4 1 ▲1 3 5 4 3 5 ▲3 3 4 3 3 ▲3 4 3 4 5

5 Yr. Growth Risk Persistence YTD 3 3 5 3 3 3 2 ▼ 4 3 2 2 ▼ 4 3 1 5 2 2 2 3 2 4 2 3 3 3 4 3 1 1 2 4 3 3 3 3 5 1 1 3 4 3 2 2 5 4 3 ▲ 3 2 4 4 3 4 4 3 4 4 1 3 5 3 4 4 3 1 3 2 3 3 2 3 3 4 5 ▼ 4 4

June 3, 2008

▲

▼

3 2 1 2 1 2 4 2 3 3 3 3 2 4 1 3 3 4 3 3 1 3 1 1 1 1 2 4 4 3 3 3 3 3 4 2 3 4 2 2 3 4 3 2 3 3 1 2 2 5 5 3 1 1 1 3 5 4 1 2 2 3 4 5 4 5 4 2 4 3 4 3 3 3 3

-6.1 -8.3 6.2 -4.3 -3.7 -5.7 -6.1 -5.6 1.4 0.8 -5.3 -5.6 -4.6 -2.2 -3.0 -6.0 -5.7 -5.2 2.2 -5.7 0.1 1.5 -2.1 -3.8 -5.2 -6.4 -6.1 -1.5 -2.8 -4.0 -6.5 -6.5 -6.4 0.3 1.1 8.5 1.6 -1.1 -4.8 -11.6 -0.9 -4.2 -4.6 11.0 -4.0 -6.6 -5.9 2.0 2.8 -6.4 -7.6 -11.9 -11.2 -4.7 -0.6 -7.0 -2.5 -5.4 0.9 -6.0 -3.1 -5.4 -7.2 -2.7 -12.1 -3.8 -8.4 -0.9 -3.3 0.6 1.2 -9.7 4.2 -0.8 -1.0

Annualized 3 Mos 3.1 -4.4 12.8 4.3 4.1 0.2 0.2 5.0 -0.5 -0.5 0.6 5.0 -0.5 1.5 7.2 -1.1 -1.0 0.9 -0.3 -0.2 2.3 -0.3 5.4 5.2 5.4 5.4 1.2 0.8 1.4 1.8 -0.3 6.1 -1.0 -1.6 -0.8 6.5 0.1 -1.5 1.1 -1.1 2.5 1.8 2.0 10.6 1.4 -1.3 3.6 0.5 12.9 0.7 -1.8 -3.9 -2.4 6.0 8.6 1.7 1.5 1.4 7.6 3.6 6.6 1.0 -2.4 -0.2 -6.8 0.6 1.0 -1.7 1.5 -0.9 -1.0 -0.2 0.2 -0.7 -0.9

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-10.0 -9.4 4.4 -10.2 -6.6 -11.8 -7.7 -10.3 3.4 2.0 -10.4 -10.4 -9.6 -4.7 -7.1 -10.7 -10.7 -9.8 4.7 -11.7 -2.3 3.4 -6.8 -9.1 -10.6 -12.5 -11.6 -3.4 -6.0 -8.2 -14.8 -8.0 -12.6 1.2 2.4 -6.4 3.1 -1.0 -12.4 -17.2 -9.0 -10.0 -9.4 -4.5 -11.7 -12.8 -11.6 3.6 -3.5 -20.1 -12.7 -15.6 -17.3 -12.2 -13.9 -12.6 -0.2 -11.0 -3.2 -7.5 -13.3 -12.7 -10.5 -5.6 -19.9 -7.6 -12.9 -2.5 -7.2 0.0 2.1 -18.2 6.5 -1.5 -1.9

8.9 11.8 40.4 12.5 21.4 10.2 5.1 12.2 4.4 4.1 7.6 12.6 8.2 8.3 32.6 7.0 7.4 7.8 4.6 6.3 6.6 4.3 14.8 18.2 19.8 20.8 9.4 7.0 8.2 9.6 3.5 11.8 6.1 3.2 2.9 13.7 4.5 2.3 11.5 11.3 7.6 5.9 10.2 13.7 6.4 5.7 19.8 5.3 17.8 -1.6 3.5 12.2 16.8 18.4 15.3 5.1 1.9 8.3 34.8 15.0 10.3 5.6 7.3 3.8 1.8 5.9 6.3 2.5 8.3 2.2 3.3 6.8 5.9 2.4 0.7

10.0 17.9 37.6 17.1 25.0 13.6 6.8 15.5 3.9 4.0 10.4 13.6 13.6 9.7 36.4 10.1 11.4 10.1 4.2 10.2 8.1 3.7 18.2 22.3 24.2 23.3 13.1 8.2 10.0 11.8 15.2 10.3 10.7 3.1 2.8 19.7 3.3 1.8 17.1 14.2 13.8 8.6 12.0 20.4 11.7 10.3 22.7 5.2 22.9 2.2 2.9 12.9 20.9 22.9 24.9 11.6 1.1 10.3 37.9 16.8 19.7 11.2 9.6 5.8 7.2 8.1 5.3 3.7 11.1 4.0 3.0 10.0 4.3 3.5 2.1

2.6 — 21.5 4.8 10.4 4.5 6.4 5.7 5.7 5.2 3.2 8.3 8.0 4.8 12.0 3.8 2.8 3.4 5.5 2.8 — 5.3 6.4 7.5 7.4 11.0 6.2 5.2 5.2 5.3 0.6 1.6 3.5 4.0 4.2 13.6 4.7 3.7 7.5 5.4 7.6 3.1 3.8 13.5 3.4 — 13.7 6.0 12.0 — — 15.4 — 11.1 12.3 6.8 2.8 4.2 14.1 5.1 8.9 4.6 9.5 3.8 3.1 4.2 0.4 3.3 6.7 3.7 4.5 5.4 4.8 5.2 4.1

0.0 0.0 3.5 0.0 1.1 0.3 1.0 0.0 4.3 4.7 1.7 0.0 0.9 2.6 0.3 2.7 2.2 1.6 4.5 1.0 7.4 4.4 1.7 2.1 1.4 1.3 0.2 4.3 4.2 3.9 30.4 0.0 1.5 3.5 3.6 1.9 3.9 4.7 0.4 0.0 0.7 1.0 1.2 1.6 0.7 1.2 1.6 5.3 0.0 16.0 11.5 1.1 0.4 0.4 3.6 0.0 2.4 0.2 1.0 3.3 4.0 0.3 0.0 3.1 0.0 1.9 0.1 5.4 0.9 3.8 4.1 0.0 4.4 4.8 4.5

0.9 -3.0 38.0 -2.3 4.8 -8.7 -2.1 3.1 6.0 4.3 -6.6 3.1 -10.2 -0.5 23.5 -9.3 -9.4 -5.1 7.3 -10.9 -2.3 5.9 1.3 0.9 -1.8 -3.0 -11.5 0.0 -1.8 -3.4 -12.6 9.6 -12.4 2.7 4.1 -10.8 5.9 -0.1 -10.0 -4.0 -12.0 -6.4 -1.2 -9.8 -14.5 -12.8 -1.3 7.5 1.8 -12.8 -11.3 8.8 2.1 0.4 -10.4 -12.4 -0.5 -5.6 23.1 -1.6 -13.0 -15.3 -9.4 -5.5 -18.0 -6.8 -3.2 -4.1 -7.0 0.7 2.9 -3.9 12.3 -2.2 -2.4

Ownership Costs $$$ $$$ $$$ $$$ $$$ $$$ $ $$$ $$ $$ $ $ $ $ $$ $ $ $$ $$ $$$ $$ $$ $$ $ $ $$$ $$$ $$ $$ $$ $$$ $$$ $ $ $$ $ $ $ $$$ $$$ $$$ $ $ $$$ $ $$$ $$ $ $$$ $$$ $$$ $$ $$ $$ $$ $ $$$ $$ $$ $ $ $ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$ $$ $$ $$ $$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 1601 1626 I 215 216 1509 1404 I I 1587 1185 176 1569 1616 1317 1422 1021 216 I 1601 1528 1318 I 616 I I 1208 177 1405 526 1529 331 332 379 1355 1510 I I 1021 974 216 1405 I 178 1021 1602 1616 1554 416 1356 130 1391 I I 1555 1510 I 1117 1319 I I 930 179 I 333 1208 1186 820 1357 180 616 617 1422 1529 1529

Fund Name Legg Mason Managed Municipals A (SHMMX) Legg Mason MD Tax Free Inc Pri (LMMDX) Legg Mason Muni High Inc B (SXMTX) Legg Mason Part Apprectn Fd A (SHAPX) Legg Mason Part Dividend Strat 1 (CSGWX) Legg Mason Part High Income B (SHIBX) Legg Mason Part Intl All Cap Opp B (SBIBX) Legg Mason Part Investors Value 0 (SAIFX) Legg Mason Partners Adj Rate Inc C (ARMGX) Legg Mason Partners CA Muni A (SHRCX) Legg Mason Partners Cap & Inc B (SOPTX) Legg Mason Partners Capital I (SACPX) Legg Mason Partners Core Plus A (SHMGX) Legg Mason Partners NY Muni A (SBNYX) Legg Mason Pt Life Alloc 85% C (SCHCX) Legg Mason Soc Awareness Fund B (SESIX) Legg Mason Special Invest Tr Prim (LMASX) Legg Mason Value Trust Prim (LMVTX) Lehman Brothers Core Bond LB I (LBHBX) Lehman Brothers Muni Sec (LBMUX) Lehman Brothers Short Dur Bd Inv (LBSDX) Leuthold Core Investment Fund (LCORX) LKCM Aquinas Fixed Income Fund (AQFIX) LKCM Aquinas Growth Fund (AQEGX) LKCM Aquinas Small-Cap Fund (AQBLX) LKCM Aquinas Value Fund (AQEIX) LKCM Small Cap Equity Fd (LKSCX) Longleaf Partners Fund (LLPFX) Longleaf Partners Intl Fd (LLINX) Longleaf Partners Small-Cap Fund (LLSCX) Loomis Sayles Bond Fund I (LSBDX) Lord Abbett Affiliated Fund A (LAFFX) Lord Abbett All Value C (GILAX) Lord Abbett America’s Value C (LAMCX) Lord Abbett Balanced Strategy A (LABFX) Lord Abbett Bond Debenture A (LBNDX) Lord Abbett Convertible Fund A (LACFX) Lord Abbett Dev Local Mkts A (LDMAX) Lord Abbett Developing Growth A (LAGWX) Lord Abbett Global-Equity A (LAGEX) Lord Abbett Growth Opportunities B (LMGBX) Lord Abbett Intl Opp A (LAIEX) Lord Abbett Large-Cap Core A (LRLCX) Lord Abbett Mid-Cap Value A (LAVLX) Lord Abbett Small Cap Value A (LRSCX) Lord Abbett Tax Free Inc-Natl A (LANSX) Lord Abbett Tax Free Inc-NY A (LANYX) Lord Abbett U.S. Govt & GSE A (LAGVX) MainStay All Cap Growth I (MATIX) MainStay Balanced I (MBAIX) MainStay Capital Appreciation B (MCSCX) MainStay Convertible Fund B (MCSVX) MainStay Equity Index A (MCSEX) MainStay Global High Income A (MGHAX) MainStay Government Fund B (MCSGX) MainStay High Yield Corp Bond B (MKHCX) MainStay ICAP Equity I (ICAEX) MainStay ICAP International I (ICEUX) MainStay Income Manager I (MASIX) MainStay Indexed Bond I (MIXIX) MainStay Interm Term Bond I (MTMIX) MainStay Intl Equity A (MSEAX) MainStay MAP Fund I (MUBFX) MainStay Mid Cap Opportunity I (MMOIX) MainStay S&P 500 Index I (MSPIX) MainStay Small Cap Opp I (MOPIX) MainStay Total Return B (MKTRX) MainStay Value Fund B (MKVAX) Mairs & Power Balanced Fund (MAPOX) Mairs & Power Growth Fund (MPGFX) Managers AMG Essex Lrg Cap Gr (MGCAX) Managers AMG FQ U.S. Equity Fd (MEQFX) Managers Balanced Fund A (MBEAX) Managers Bond Fund (MGFIX) Managers Fremont Bond Fund (MBDFX)

MB/LT MS MB/LT GR/LB GR/LB CH FO GI/LV GM/AJ MC/LT FL/LV GR/LB GM MY/LT AA BA SC/SV GR/LV CH MB/LT CG/ST AA CG GR SC IN/LV SC GR/VL FO SC/SV CG GI/LB GI/LB IN BA CH CV IB/GL SC/SG GL GR FO GI/LB GR/MV SC MB/LT MY/LT GS/LT GR/LG BA AG/GW CV GI/LB IB GS/LT CH GI/LV EU AA CG CG FO GR/LV GI/MV GI/LB SC/SV FL GI/VL BA GR GR/GW GR/LB BA CG CG

NAV 5/21/08 15.79 16.09 14.48 15.20 17.51 6.33 9.19 20.29 8.80 16.53 15.29 25.56 11.89 13.25 14.63 17.04 28.13 50.85 8.62 11.20 8.67 18.54 9.92 16.52 6.19 12.79 19.06 32.40 18.57 26.00 14.56 13.02 11.60 12.12 11.07 7.82 12.18 7.09 17.37 12.56 18.70 14.30 29.29 16.61 27.72 10.76 10.74 2.64 25.50 25.62 28.80 15.36 48.56 11.22 8.38 5.96 39.53 37.47 13.20 10.93 9.88 15.03 34.31 23.93 32.26 13.97 16.62 18.45 62.45 73.68 31.52 12.26 12.96 25.35 10.74

Overall 1 2 3 2 ▲2 4 3 3 4 1 3 4 4 ▼3 5 ▲2 5 5 4 2 5 1 2 3 5 2 4 4 2 3 ▼2 3 2 3 2 3 2 3 3 3 3 3 2 4 2 ▼5 4 4 3 3 5 2 3 3 3 3 2 1 3 2 1 2 2 ▲3 3 5 3 3 ▲2 3 ▼4 3 ▲2 1 3

5 Yr. Growth Risk Persistence YTD 3 3 3 2 2 5 3 2 1 3 2 3 3 2 3 ▼ 2 ▼ 5 4 5 3 4 ▲ 1 2 3 4 2 4 3 3 3 3 2 2 2 1 3 2 5 5 3 3 4 2 3 ▲ 3 4 4 3 3 ▼ 2 3 2 2 5 3 3 2 3 1 3 3 ▲ 2 2 3 2 4 1 2 1 2 3 3 1 3 4

LE-MA

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 21

▲

2 2 2 3 3 2 2 3 5 2 4 3 4 3 5 5 3 5 2 4 4 2 3 4 4 3 2 3 2 2 1 3 3 3 4 1 3 3 3 3 2 3 3 2 3 3 4 3 4 5 4 3 1 4 1 2 1 4 3 3 2 2 3 4 3 5 4 4 3 4 2 4 2 3

2.1 0.2 -0.6 -1.4 -3.5 0.2 -6.8 -6.1 -3.4 0.9 -4.4 -2.1 -0.5 -0.5 -5.6 -2.8 -16.8 -15.8 1.8 -0.1 -4.2 1.7 1.4 -1.6 -6.3 -3.1 -6.6 -4.4 -4.9 -3.6 1.0 -5.9 -3.1 -4.9 -2.9 0.5 -3.6 5.5 -16.2 -4.9 -6.8 -10.3 -4.1 -7.6 -3.3 -2.2 -1.9 2.0 -6.4 -2.7 -7.5 -2.0 -5.2 0.4 1.6 -0.9 -4.4 -3.1 -4.1 2.1 1.7 -4.0 -2.8 -3.8 -5.1 -8.2 -3.7 -4.1 -0.7 -3.5 -7.1 -6.1 -1.9 1.4 1.6

Annualized 3 Mos 1.0 -1.3 -1.1 3.1 0.7 2.5 1.0 -1.4 -3.2 -0.1 0.7 3.1 -1.9 -1.3 0.1 2.1 -7.1 -8.5 2.9 -1.6 -4.3 4.1 -0.9 5.8 0.7 0.8 1.1 2.7 2.3 -0.7 0.6 -0.9 1.5 -1.0 1.1 2.4 1.3 4.5 -2.1 2.4 4.2 2.8 0.9 -2.0 3.1 -3.1 -2.2 0.8 4.0 0.8 3.6 3.5 0.9 0.4 0.0 1.0 1.0 5.7 -0.6 0.2 0.1 2.6 2.3 2.5 1.0 -2.3 0.9 -0.1 2.3 0.4 1.0 0.3 0.8 0.5 -1.3

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

3.0 0.5 -2.3 -4.5 -6.5 -2.4 -11.5 -10.0 -4.2 1.6 -7.3 -9.1 0.0 -0.4 -11.0 -4.7 -23.9 -23.8 -0.7 1.2 -3.5 3.4 3.1 -3.4 -13.6 -6.9 -14.4 -13.9 -10.1 -12.7 0.0 -10.7 -1.9 -9.8 -5.7 -1.1 -6.6 5.2 -19.3 -17.0 -8.9 -19.5 -7.2 -14.3 -7.1 -3.9 -2.9 3.6 -10.1 -3.9 -13.0 -4.2 -8.6 -0.6 3.7 -2.4 -8.9 -7.2 -7.0 4.4 3.6 -8.6 -8.3 -8.8 -9.7 -16.6 -6.5 -10.1 -2.7 -6.4 -13.8 -11.6 -3.7 2.4 3.6

4.7 2.7 4.5 9.4 7.5 4.2 11.4 8.6 0.5 4.2 7.4 7.0 2.6 2.8 4.7 5.3 0.7 -1.4 4.6 2.6 1.9 16.5 4.1 7.2 7.3 9.9 9.2 8.3 14.5 11.1 8.8 7.4 10.7 5.9 7.1 6.9 8.1 4.2 17.0 8.8 10.0 15.0 8.3 6.0 16.6 0.6 1.2 3.3 11.6 6.0 6.9 10.9 9.1 9.1 3.5 5.5 11.0 17.3 6.9 4.7 4.5 12.3 10.9 6.4 7.9 0.1 6.4 6.8 7.5 6.8 7.9 10.6 7.6 6.2 3.9

4.7 2.9 4.6 10.5 7.9 6.1 14.6 11.7 0.5 3.9 10.3 13.4 2.4 2.8 8.5 6.7 8.5 5.3 5.4 2.4 1.6 18.4 3.9 9.1 7.5 13.0 14.5 10.1 17.5 16.1 10.4 10.9 13.0 10.0 9.3 7.4 — 5.5 15.3 10.8 11.6 20.5 11.3 12.3 19.8 2.1 2.4 3.2 11.1 9.3 6.9 9.6 11.0 12.0 2.5 8.9 12.9 22.8 8.2 4.0 4.0 15.8 15.1 12.9 10.3 11.7 7.0 10.3 9.6 10.8 8.1 12.5 9.3 5.9 3.4

4.6 4.2 3.5 5.6 3.0 2.1 0.7 5.9 2.4 4.4 5.1 9.3 4.0 4.1 2.1 3.1 7.1 4.1 5.4 4.0 3.3 11.8 5.1 3.3 -0.1 3.0 7.9 7.8 — 10.2 8.8 6.1 7.8 — 5.8 5.1 — 4.6 4.1 2.7 — 2.0 6.1 9.4 11.8 3.7 4.1 4.9 2.4 6.3 -0.2 6.4 3.6 — 4.1 5.5 5.8 8.9 4.7 5.5 5.1 6.3 9.4 6.3 3.7 5.6 2.7 2.3 6.9 8.7 4.1 3.3 6.4 6.8 5.8

3.9 2.6 4.0 0.7 1.9 6.6 0.4 1.7 4.0 3.8 0.9 0.3 3.9 0.3 0.8 0.3 0.0 0.0 6.5 3.6 4.5 1.6 4.2 0.0 0.0 0.7 0.0 0.2 0.0 0.7 6.9 1.3 0.6 2.7 4.3 6.4 2.9 7.5 0.0 0.2 0.0 0.4 0.4 0.5 1.0 2.3 2.1 0.8 0.0 2.1 0.0 0.3 1.4 5.7 3.3 6.4 1.7 1.9 3.8 4.8 4.6 0.3 0.9 1.1 1.8 1.5 1.0 0.2 3.1 1.3 0.0 1.1 1.9 4.8 0.5

4.7 0.8 -1.5 3.0 -2.9 -5.1 -6.4 -7.1 -3.9 3.1 -3.4 -4.2 0.8 0.3 -10.7 1.5 -27.8 -24.2 -2.2 2.7 -1.8 14.8 5.1 6.2 -9.9 -2.0 -10.9 -9.3 0.9 -9.4 5.3 -6.0 3.1 -8.3 -1.2 1.4 0.6 10.5 3.3 -9.2 4.8 -13.4 -0.3 -15.2 2.5 -5.2 -3.5 3.6 0.5 -4.4 -4.5 7.1 -3.9 1.1 5.5 -2.5 -3.7 -0.2 -4.4 7.1 5.5 -6.9 -2.8 -13.3 -4.9 -25.7 -2.2 -7.5 -0.4 -3.5 1.2 -9.0 -1.0 6.1 4.9

Ownership Costs $$ $ $$ $$$ $$$ $$ $$$ $ $$ $$ $$$ $ $$ $$ $$ $$$ $$ $$ $ $ $ $$ $ $$ $$ $$ $ $ $$ $ $ $$$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$ $$$ $ $ $$$ $$$ $$ $$$ $$$ $$$ $ $ $ $ $ $$$ $ $$ $ $$ $$$ $$$ $ $ $$ $ $$$ $ $

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

MA-MO

Page 22

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 975 1022 I 1220 617 1555 1022 334 1570 I 1221 1009 1009 416 181 216 821 217 I 1422 1544 1221 1221 416 821 1152 1153 1154 1155 1156 1422 I 617 1009 807 527 182 1529 1587 131 1221 I 976 977 1358 1555 1510 I 1405 1405 931 1530 1626 821 217 1602 I 217 1544 1359 790 1009 I 132 617 I I 808 217 1423 1587 417 1392 1022 821

Fund Name Managers Fremont Global Fund (MMAFX) Managers Fremont Micro-Cap Inst (MIMFX) Managers Global Bond Fund (MGGBX) Managers International Eq (MGITX) Managers Mid Cap Fund A (MKPAX) Managers Short Dur Govt Fund (MGSDX) Managers Special Equity Fund (MGSEX) Managers Value (MGIEX) Marshall Government Income Inv (MRGIX) Marshall Intermediate Bond Inv (MAIBX) Marshall International Stock Y (MRISX) Marshall Large Cap Growth Y (MASTX) Marshall Large Cap Value Y (MREIX) Marshall Mid-Cap Growth Inv (MRMSX) Marshall Mid-Cap Value Inv (MRVEX) Marsico Focus Fund (MFOCX) Marsico Growth Fund (MGRIX) Massachusetts Investors Gr Stk A (MIGFX) MassMutual Sel Large Cap Value N (MLVNX) MassMutual Premier Balanced S (MBLDX) MassMutual Premier Core Bond S (MCBDX) MassMutual Premier Intl Equity S (MIEDX) Masters Select International Fund (MSILX) Masters’ Select Equity Fund (MSEFX) Matrix Advisor Value Fund (MAVFX) Matthews Asian Growth & Income Fd (MACSX) Matthews China Fund (MCHFX) Matthews Japan Fund (MJFOX) Matthews Korea Fund (MAKOX) Matthews Pacific Tiger Fund (MAPTX) Members Balanced A (MBLAX) Members High Income A (MHNAX) Members Large Cap Growth A (MCAAX) Members Large Cap Value A (MGWAX) Merger Fund (MERFX) Meridian Growth Fund (MERDX) Meridian Value Fund (MVALX) MFS Bond A (MFBFX) MFS CA Municipal Bond A (MCFTX) MFS Emerging Growth Fund B (MEGBX) MFS Emerging Mkt Equity Fund A (MEMAX) MFS FL Municipal Bond Fund A (MFFLX) MFS Global Equity Fund B (MWEBX) MFS Global Growth Fund A (MWOFX) MFS Global Total Return Fund A (MFWTX) MFS Government Securities Fund A (MFGSX) MFS High Income Fund A (MHITX) MFS High Yield Opportunities A (MHOAX) MFS International Growth Fund A (MGRAX) MFS Intl New Discovery A (MIDAX) MFS Intl Value Fund A (MGIAX) MFS Limited Maturity Fund A (MQLFX) MFS MA Municipal Bond Fund A (MFSSX) MFS Mass Investors Trust A (MITTX) MFS Mid-Cap Growth Fund B (OTCBX) MFS Municipal High Income Fund A (MMHYX) MFS Municipal Income Fund B (MMIBX) MFS Research Fund A (MFRFX) MFS Strategic Income Fund A (MFIOX) MFS Total Return Fund A (MSFRX) MFS Utilities Fund A (MMUFX) MFS Value Fund A (MEIAX) Midas Fund (MIDSX) Midas Special Fund (MISEX) MMA Praxis Core Stock Fund B (MMPGX) Monetta Fund (MONTX) Monetta Intermediate Bond (MIBFX) Monetta Mid-Cap Equity (MMCEX) Morgan Stanley American Opp B (AMOBX) Morgan Stanley Balanced Fund C (BGRCX) Morgan Stanley CA T/F Income B (CLFBX) Morgan Stanley Capital Opp Trust B (CPOBX) Morgan Stanley Convertbl Sec Tr B (CNSBX) Morgan Stanley Devlp Growth Sec B (DGRBX) Morgan Stanley Dividend Gr Sec B (DIVBX)

Inv. Obj./Peer GL SC/SG IB FO GR GS/ST SC/SB GI/LB GM DB/IT FO GI/LB GI/LV GR/MG GR/MV GR/LG GI GR/LG GR/LV BA DB FO FO GR GI PB/NJ PB/NJ PB/JP PB/NJ PB/NJ BA CH GR/LV GI GR SC/SG GR/SV CG MC/LT AG/GW FO/EM MS GL GL BA/GL GS/LT CH CH FO FO FO CG/ST MS GI/LB GR/MG MB/HY MB/LT GR/LG DB BA UT GI PM/MB AG/MG GR SC/SG CG/IT GR/MG GR/LB BA MC/LT GR CV SC/GW GI/LB

NAV 5/21/08 14.94 11.36 22.21 73.06 13.50 9.63 58.93 20.21 9.58 9.22 15.00 12.53 13.20 18.88 12.86 18.52 20.52 14.73 12.09 10.27 10.87 17.02 17.78 14.93 47.68 19.29 34.17 14.54 5.35 25.19 11.53 7.02 16.06 14.96 14.97 35.97 31.08 12.20 5.69 37.30 44.07 9.78 25.13 27.18 14.26 9.72 3.61 6.96 26.59 24.14 30.02 6.31 11.08 20.46 9.41 7.84 8.37 25.93 6.53 14.81 19.49 25.49 5.60 18.61 13.67 15.60 10.10 8.63 31.16 13.64 11.87 22.03 18.48 28.79 18.08

Overall 2 5 2 ▼2 4 2 5 4 1 3 3 3 3 3 3 3 3 3 3 2 2 1 ▼2 ▲4 4 1 ▼3 4 3 2 3 4 3 3 3 4 3 4 3 2 1 3 1 1 1 2 4 4 1 ▲1 1 ▼4 1 ▲1 5 3 3 2 ▼3 3 1 2 ▼3 3 4 ▼3 2 ▼5 3 3 3 3 3 ▼3 4 ▼

5 Yr. Growth Risk Persistence YTD 2 5 4 3 3 1 4 3 2 2 3 3 2 4 3 ▼ 4 3 ▲ 2 2 1 3 3 3 3 3 3 5 3 5 5 1 5 3 2 1 3 3 2 3 3 5 3 2 3 1 3 4 4 3 ▲ 3 3 1 3 2 3 3 3 3 2 1 3 2 5 3 2 4 2 4 4 1 4 4 ▲ 1 4 2

June 3, 2008

▼

▼

4 4 2 1 3 3 3 3 3 4 2 4 3 3 3 3 3 4 3 4 3 1 1 4 3 1 2 3 2 1 5 1 4 3 5 3 3 3 2 3 1 2 2 2 3 3 2 1 1 1 1 4 1 3 4 2 3 3 2 4 1 2 2 3 5 3 3 3 3 4 2 2 5 2 5

-3.9 -16.5 3.9 -6.0 -4.0 0.4 -9.1 -7.0 0.6 1.1 -4.1 -7.0 -5.3 -3.8 -4.7 -6.8 -7.9 -4.8 -3.7 -3.6 1.1 -5.5 -6.2 -2.4 -2.7 -0.7 -13.0 1.0 -11.6 -6.0 -2.9 0.1 -5.1 -4.3 -1.8 -5.4 -4.7 -1.1 -0.8 -4.4 -4.1 -0.8 -2.6 -3.6 0.7 0.8 -1.3 -2.0 -2.6 -2.2 -0.9 -0.9 -0.6 -3.0 -4.8 -2.5 -1.2 -4.4 -0.6 -2.7 -2.6 -4.9 -8.2 -0.9 -3.0 -7.8 1.0 -11.2 -3.7 -4.4 -0.2 -2.3 -2.3 -5.5 -6.0

Annualized 3 Mos 1.4 -2.3 1.7 2.3 3.4 -0.2 -0.7 -3.6 -0.6 0.9 5.9 4.0 1.0 7.7 0.6 2.5 0.8 1.8 0.8 0.0 -0.6 4.0 3.2 4.3 1.2 4.7 5.2 5.7 -0.7 4.6 -2.0 1.8 3.7 0.3 1.0 1.1 1.8 -1.2 -1.3 4.3 6.5 -1.4 4.7 5.7 2.8 -0.8 1.2 0.8 6.7 6.9 5.7 -1.6 -1.7 2.5 3.0 -3.0 -2.0 2.5 0.0 -0.4 5.1 0.3 -7.0 3.3 0.8 2.2 -0.4 1.3 4.9 -0.9 -0.9 6.6 0.8 2.9 0.2

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-7.5 -22.5 4.6 -11.8 -9.8 1.2 -17.9 -15.8 2.0 1.8 -12.9 -10.0 -8.1 -6.7 -9.2 -11.8 -13.2 -7.9 -8.1 -2.4 6.9 -11.1 -14.1 -8.0 -8.7 -2.0 -24.3 -6.9 -19.1 -13.1 -5.0 -1.2 -8.7 -10.3 -5.7 -11.6 -6.9 -0.8 -0.9 -7.9 -9.9 -0.9 -5.7 -7.8 -0.7 3.1 -3.1 -4.0 -6.8 -7.0 -5.5 -0.6 0.1 -5.7 -8.1 -4.3 -0.9 -7.5 -0.8 -5.2 -3.5 -8.4 -18.4 -4.3 -8.3 -9.4 2.3 -14.5 -8.5 -7.0 0.2 -8.6 -6.1 -12.0 -11.5

9.3 5.6 5.0 18.6 6.8 3.9 5.2 3.1 4.0 3.5 16.2 8.5 9.1 14.5 6.6 9.8 8.2 8.2 8.3 7.6 5.8 18.8 20.7 9.1 6.8 19.3 37.2 -0.4 21.5 25.7 4.2 5.6 6.7 7.2 4.5 8.6 10.2 2.9 2.2 13.2 31.7 2.2 12.8 13.9 10.0 4.2 4.3 5.3 19.1 19.6 16.1 2.7 2.7 10.7 6.3 2.2 1.9 10.6 3.9 6.2 23.9 9.9 41.7 10.4 4.9 14.9 3.7 6.8 12.8 5.5 3.3 17.3 7.7 16.4 5.6

10.9 9.8 6.9 19.8 12.2 3.2 11.1 8.8 4.0 3.2 16.9 9.8 10.7 13.3 12.6 11.6 11.5 8.6 11.6 8.6 4.9 24.1 22.1 11.1 9.9 23.3 35.0 14.6 26.6 31.4 6.5 6.7 9.4 10.9 4.8 12.8 13.7 3.7 3.2 12.2 34.4 3.1 15.2 15.8 12.6 3.4 6.2 7.4 20.8 25.2 20.6 2.2 3.2 11.4 9.3 4.4 2.9 12.1 5.2 8.4 25.1 13.3 32.5 9.5 6.4 14.0 3.0 9.0 10.7 8.4 3.9 18.5 7.7 18.1 8.7

4.6 10.5 5.9 5.9 8.7 4.1 5.3 3.3 4.9 4.7 5.1 2.2 4.3 5.6 9.2 6.2 6.1 2.6 — 3.1 5.9 6.9 11.5 5.9 7.8 18.1 15.9 — 23.1 18.2 4.1 4.3 3.2 3.6 5.8 9.6 13.3 4.9 4.6 0.5 11.7 4.4 6.0 6.6 7.4 5.0 3.7 — 6.7 16.1 8.9 3.8 4.4 2.8 2.6 4.3 3.6 3.1 4.5 6.2 11.1 8.2 8.5 -2.5 0.7 3.0 4.7 -1.6 3.5 4.1 4.6 5.0 4.9 6.6 2.3

3.5 0.0 6.4 0.5 0.0 4.2 0.0 1.1 4.0 4.0 1.1 0.0 1.1 0.0 0.4 0.0 0.0 0.4 0.0 6.4 9.6 4.1 1.0 0.0 0.8 4.2 0.3 0.0 0.3 1.0 1.5 6.3 0.0 1.2 2.4 0.1 1.0 3.6 2.9 0.0 0.7 2.9 0.0 0.6 3.2 2.5 5.5 5.5 0.7 0.9 1.1 3.0 2.7 0.7 0.0 3.6 2.6 0.6 3.8 2.5 1.8 1.1 0.0 0.0 0.3 0.0 3.8 0.0 0.0 1.7 3.7 0.0 1.7 0.0 1.1

0.1 -13.7 9.3 2.4 -11.6 3.3 -15.1 -17.0 4.7 3.5 -3.5 0.6 -3.8 10.3 -10.6 4.3 1.9 1.3 -3.8 1.4 9.9 -0.1 2.9 -3.0 -8.6 14.4 37.8 -8.5 4.3 20.3 -3.8 -1.4 1.5 -8.5 -2.3 -6.9 -5.0 -0.4 -1.1 7.6 21.2 -0.6 -0.5 2.2 5.0 5.6 -4.4 -5.4 4.3 0.8 0.2 0.6 0.9 1.6 -4.3 -5.3 -0.5 1.0 -0.4 -2.7 8.9 -3.6 11.2 17.0 -7.1 10.0 4.9 -9.3 8.3 -5.7 0.3 7.6 -0.2 6.2 -6.6

Ownership Costs $ $$ $$ $$ $$$ $$ $$ $$ $$$ $ $$ $$ $$ $$ $$ $$ $$ $$$ $ $ $ $$ $$ $$ $ $$ $$ $$ $$ $$ $$$ $$$ $$$ $$$ $$ $ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$ $$$ $$$ $$ $$$ $$$ $$$ $$ $$$ $$$ $$ $$ $$ $$$ $$ $$ $$$ $$$ $$$ $$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 822 1118 582 1544 978 808 1510 I 1157 1555 563 1158 1208 1187 1602 759 1570 791 1360 I 183 218 1602 1222 1222 1578 133 979 1423 932 933 1010 1208 1530 1530 1511 1578 1530 417 1022 418 218 I 822 1361 380 I 418 808 808 528 184 1362 1531 595 822 1010 1531 1578 934 760 809 I I I 335 980 1119 I 336 337 1531 822 792 418

Fund Name Morgan Stanley Equal-Wgtd S&P 500 B (VADBX) Morgan Stanley European Equity B (EUGBX) Morgan Stanley Financl Serv Tr B (FSVBX) Morgan Stanley Flexible Inc Tr B (DINBX) Morgan Stanley Glb Divnd Gr Sec B (GLBBX) Morgan Stanley Global Advantage A (GADAX) Morgan Stanley High Yield Sec D (HYLDX) Morgan Stanley Intl Small Cap B (ISMBX) Morgan Stanley Japan Fund B (JPNBX) Morgan Stanley Mtge Sec Tr B (MTGBX) Morgan Stanley Natural Res Dev B (NREBX) Morgan Stanley Pacific Growth B (TGRBX) Morgan Stanley Special Growth B (SMPBX) Morgan Stanley Strategist Fund B (SRTBX) Morgan Stanley T/E Sec Trust D (TAXDX) Morgan Stanley Technology Fd B (IFOBX) Morgan Stanley US Govt Sec Tr B (USGBX) Morgan Stanley Utilities Fund B (UTLBX) Mosaic Balanced Fund (BHBFX) Mosaic Interm Income Fd (MADBX) Mosaic Investors Fund (MINVX) Mosaic Mid-Cap Fund (GTSGX) Mosaic Tax Free National Fd (GTFHX) MSIF Active Intl Allocation A (MSACX) MSIF Emerging Markets A (MGEMX) MSIF Emerging Markets Debt A (MSIEX) MSIF Focus Equity I (MSAGX) MSIF Global Value Equity I (MSGEX) MSIF Inst Balanced Fund (MPBAX) MSIF International Equity A (MSIQX) MSIF International Small Cap A (MSISX) MSIF Large Cap Relative Value A (MSIVX) MSIF Small Company Growth A (MSSGX) MSIF Trust Core Fixed Inc Inst (MPSFX) MSIF Trust Core Plus Fix Inc Inst (MPFIX) MSIF Trust Instl High Yield (MPHYX) MSIF Trust International FIP Inst (MPIFX) MSIF Trust Invest Grd Fxd Inc Inst (MPFDX) MSIF Trust Mid Cap Growth Inst (MPEGX) MSIF Trust U.S. Sm Cap Val Fd I (MPSCX) MSIF U.S. Large Cap Growth A (MSEQX) MSIF U.S. Mid Cap Value Inst (MPMVX) MSIF US Real Estate B (MUSDX) MSIF Value Fund I (MPVLX) MTB Balanced A (ARBAX) MTB Equity Income Inst-I (AREIX) MTB Income Inst-I (ARKIX) MTB Mid Cap Growth Inst-I (ARMEX) MTB Mid Cap Stock A (VMCSX) MTB Multi Cap Growth Inst-I (ARCGX) MTB Small Cap Growth A (ARPAX) Muhlenkamp Fund (MUHLX) Munder Asset Allocation Bal Y (MUBYX) Munder Bond Y (MUCYX) Munder Healthcare Y (MFHYX) Munder Index 500 Y (MUXYX) Munder Instl S&P MidCap Index Y (MIMIX) Munder Intermediate Bond Y (MUMYX) Munder International Bond Fund B (MIBBX) Munder International Equity Y (MUIYX) Munder Internet Fund A (MNNAX) Munder Large Cap Core Growth B (MUSGX) Munder Large Cap Value A (MUGAX) Munder Micro-Cap Equity A (MMEAX) Munder Real Estate Equity B (MURBX) Mutual Beacon Z (BEGRX) Mutual Discovery Z (MDISX) Mutual European Z (MEURX) Mutual Financial Svcs A (TFSIX) Mutual Qualified Z (MQIFX) Mutual Shares Z (MUTHX) Nationwide Bond Fund D (MUIBX) Nationwide Fund D (MUIFX) Nationwide Global Utilities C (GGUCX) Nationwide Growth Fund D (MUIGX)

GI EU FS DB GL GR CH FO PB/JP GS/LT EN PB SC/SG FL MB/LT TC GM UT BA DB GR/LG GR/MG MB/LT FO FO/EM IB/FO AG GL BA FO FO GI/LV SC/SG CG CG CH IB/FO CG GR/MG SC/SV GR/LB GR/MV RE GI/VL BA IN/LV DB GR/MB GR/MB GR/LG SC/SG GR/LV BA CG HL GI/LB GI/MB CG/IT IB FO TC GR GI/LV SC/SG RE GI/VL GL EU FS GI/VL GI/VL CG GI/LB UT GR/LG

NAV 5/21/08 36.20 21.20 6.20 5.78 14.21 11.33 1.75 7.49 8.63 8.39 27.17 23.96 19.26 19.16 11.14 10.22 8.77 15.53 17.21 6.64 17.63 12.13 10.85 15.69 32.38 11.94 18.71 16.72 14.19 18.87 17.10 11.19 12.05 10.17 10.75 9.92 11.43 10.55 32.51 23.25 24.01 33.42 16.60 14.77 14.50 6.41 9.65 14.15 13.84 19.03 15.97 61.75 11.88 9.38 25.17 27.71 11.08 9.13 11.91 19.53 22.85 14.36 14.86 31.97 13.64 15.01 31.46 25.29 16.48 21.19 24.11 9.55 16.28 13.09 8.41

Overall 4 1 ▲4 ▼3 3 3 3 ▲3 3 4 2 2 4 2 2 4 3 2 ▲2 2 3 3 3 1 2 3 3 3 1 1 3 3 4 3 3 3 3 3 ▼3 3 3 2 3 3 3 3 4 3 4 3 4 ▼5 2 2 3 ▼4 3 2 3 ▲2 4 ▼4 ▲2 5 4 ▼3 1 1 4 1 3 2 4 1 3

5 Yr. Growth Risk Persistence YTD 3 3 ▼ 5 2 3 3 3 3 4 ▼ 3 5 4 4 1 ▲ 3 4 3 3 1 2 2 2 3 3 5 5 4 2 1 ▼ 3 3 2 4 3 3 3 5 3 4 3 4 3 5 2 1 2 3 4 3 3 5 3 1 2 ▲ 2 2 3 2 5 3 5 3 2 4 5 2 2 3 3 2 2 ▲ 2 3 3 3

MO-NA

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 23

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▲

3 2 3 1 2 3 1 2 3 5 2 2 3 4 1 4 3 2 4 3 4 3 4 1 1 1 3 2 3 2 2 3 3 2 2 2 3 2 2 2 3 1 2 3 5 3 5 3 3 4 3 3 4 3 4 4 3 3 3 1 3 4 3 3 2 3 1 1 3 2 3 2 5 1 3

-4.4 -6.2 -14.7 -1.7 -6.5 -10.3 3.5 -3.2 -1.8 -5.0 4.8 -5.5 -7.7 -3.9 0.0 -9.2 -2.6 -4.9 -1.7 1.9 -4.1 -7.5 0.7 -3.2 -6.7 2.8 -3.2 -6.4 -3.7 -1.2 -2.8 -5.1 -7.5 -4.2 -4.3 0.2 7.5 -4.1 -4.5 -2.5 -4.3 -4.6 8.4 -6.8 -1.7 -1.3 1.0 -2.3 -4.6 -5.7 -9.2 -6.5 -3.7 1.9 -10.1 -5.1 -2.2 1.2 5.9 -2.8 -8.0 -10.5 -3.3 -10.6 6.2 -5.8 -4.3 -6.2 -11.4 -4.2 -6.1 0.5 -4.8 -8.6 -8.1

Annualized 3 Mos 0.2 4.4 -9.3 -2.0 2.0 0.7 4.1 6.6 4.7 -5.3 17.7 4.3 1.1 0.0 -1.3 4.1 -4.4 2.8 0.3 0.1 0.5 -1.9 -0.8 5.8 6.8 1.5 5.4 2.0 0.4 6.2 6.9 0.6 1.5 -5.7 -5.7 1.3 3.2 -5.5 3.5 3.0 4.8 0.5 8.2 -3.2 1.2 1.4 -0.4 7.7 2.9 3.6 1.5 -1.7 1.2 0.1 -5.3 1.0 4.5 -0.2 2.3 6.6 6.4 0.7 2.4 -3.3 6.5 -0.6 2.9 3.6 -4.9 0.4 -0.3 -1.0 2.3 -1.5 2.7

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-10.5 -8.8 -1.7 -2.3 -10.7 -14.2 2.4 -13.9 -7.3 -4.3 7.7 -14.7 -15.2 -6.2 0.5 -16.1 -1.1 -5.9 -3.1 4.0 -7.4 -10.2 2.0 -9.5 -14.6 -0.2 -7.9 -10.3 -5.5 -5.2 -13.4 -9.4 -14.8 -3.3 -3.6 -0.6 9.1 -3.1 -11.1 -10.3 -10.5 -9.2 -8.3 -13.0 -4.6 -8.0 2.3 -4.3 -9.3 -9.6 -15.8 -13.2 -6.1 2.8 -12.2 -9.8 -7.4 2.4 6.8 -10.6 -17.0 -14.8 -6.3 -18.5 -7.9 -10.6 -6.9 -8.8 -16.3 -6.3 -13.0 2.5 -8.9 -10.1 -11.1

7.3 16.2 9.0 4.1 9.4 11.5 7.3 6.8 6.5 0.9 29.0 19.7 7.6 8.8 3.2 5.8 2.8 14.1 5.0 4.2 5.1 7.1 2.4 18.0 35.3 10.2 16.4 9.4 10.4 12.7 8.1 8.1 8.8 2.4 2.7 5.4 4.9 2.6 17.8 12.6 15.3 14.3 14.0 4.6 6.0 7.4 1.7 13.4 9.0 9.5 14.2 0.1 8.2 4.1 1.7 7.8 10.6 3.8 2.7 15.9 11.8 6.9 8.9 1.1 6.0 7.9 13.2 17.6 3.4 11.5 7.1 4.2 5.3 18.3 9.5

12.0 17.1 9.6 5.3 13.8 13.6 8.6 17.6 13.3 1.4 29.5 23.8 13.6 10.9 3.9 8.3 3.0 16.4 5.8 3.5 7.1 11.2 2.5 20.2 36.3 11.2 12.7 14.0 10.5 17.9 19.2 13.0 14.7 3.1 3.4 7.0 7.3 3.3 19.8 16.7 12.5 17.7 21.2 11.5 6.4 9.7 2.0 15.5 12.0 10.1 15.0 10.0 10.0 3.9 10.8 10.2 14.6 3.2 5.4 19.3 12.7 9.1 12.8 13.3 14.6 12.4 17.2 20.5 9.0 14.9 11.2 4.4 8.3 20.9 10.9

5.9 5.9 6.5 2.2 5.4 2.2 -2.8 8.3 2.8 3.5 10.4 8.0 -0.3 4.9 4.9 0.9 4.7 6.1 4.6 4.1 4.3 8.6 4.0 7.2 13.7 7.6 5.2 5.0 5.5 9.6 10.5 5.9 10.9 5.0 5.1 2.3 6.2 5.1 8.5 7.4 4.3 8.3 12.8 4.4 4.3 3.3 4.1 8.4 5.3 4.4 12.2 6.6 7.2 5.0 7.2 3.5 — 4.8 4.9 6.5 1.9 0.2 4.2 8.4 8.7 8.0 10.0 13.2 8.0 8.9 7.3 5.5 2.1 — -2.3

0.2 1.4 0.0 6.4 1.7 0.1 6.4 0.0 0.0 3.8 0.0 0.0 0.0 1.7 4.4 0.0 4.1 0.8 1.5 4.0 1.0 0.0 3.5 3.1 0.3 8.5 0.2 1.7 2.4 2.1 1.2 1.8 0.0 5.1 4.9 6.8 6.4 4.8 0.5 0.2 0.4 0.7 1.8 2.2 2.6 2.0 2.8 0.0 0.3 0.0 0.0 0.6 1.5 5.0 0.0 1.7 0.7 4.9 1.4 1.8 0.0 0.0 1.0 0.8 2.2 3.6 2.3 2.6 2.6 3.2 3.2 4.6 1.1 0.9 0.5

-10.2 -0.5 -3.3 -0.5 -6.7 -3.1 3.5 -14.5 -4.6 -2.3 31.0 10.8 -8.9 -1.2 0.8 0.2 1.5 -0.4 -0.5 6.5 -4.9 -6.1 3.0 3.2 23.9 3.9 10.6 -6.4 4.3 1.7 -13.5 -7.5 -8.1 -0.8 -1.5 -1.5 16.0 -0.6 8.3 -8.6 9.0 -2.7 -13.7 -13.5 -1.9 -11.0 2.1 4.6 -8.8 -0.5 -5.3 -17.0 0.0 4.5 -10.3 -5.1 -3.4 4.2 13.1 -4.6 2.3 -2.4 -3.5 -21.4 -20.2 -9.2 -2.6 -2.1 -24.2 -3.6 -11.6 4.5 -2.8 2.4 1.6

Ownership Costs $$ $$ $$$ $$$ $$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $ $$$ $$ $$$ $$ $$ $ $$ $$ $ $$ $ $ $ $ $ $$ $ $$ $ $ $ $ $ $ $ $ $ $$ $ $$$ $$ $ $$ $$$ $$ $$$ $$ $$ $ $$ $ $ $ $ $$ $$$ $$$ $$$ $$$ $$$ $ $$ $$ $$$ $ $ $$ $$ $$ $$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

NA-OA

Page 24

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 185 1010 1531 1579 809 I I 1603 1023 1532 I 418 618 I 1209 218 529 823 1222 201 218 419 I 1423 618 981 381 219 I 1023 1209 1411 618 I 1393 I 761 1010 618 1511 1423 1532 809 419 I 762 419 382 1222 134 1209 809 1556 1603 1424 I I I 1626 1603 1603 I 1627 1616 I 1627 I 1189 419 1363 I 219 I 935 936

Fund Name Nationwide Mid Cap Growth Leaders D (NMCGX) Natixis Harris Assoc Lg Cap Val A (NEFOX) Natixis Loomis Sayles Cor Pl A (NEFRX) Natixis Loomis Sayles Glob Bd I (LSGBX) Natixis Loomis Sayles Gr Fund Y (LSGRX) Natixis Loomis Sayles High Inc A (NEFHX) Natixis Loomis Sayles Invst Gr Bd Y (LSIIX) Natixis Loomis Sayles Muni Inc A (NEFTX) Natixis Loomis Sayles Sm Cap Val I (LSSCX) Natixis Loomis Sayles Strat Inc A (NEFZX) Natixis Loomis Sayles Value I (LSGIX) Navellier Perform Mid Cap Gr (NPMDX) Needham Growth Fund (NEEGX) Neuberger Berman AMT Balanced (NBABX) Neuberger Berman Fasciano Inv (NBFSX) Neuberger Berman Focus Inv (NBSSX) Neuberger Berman Genesis Inv (NBGNX) Neuberger Berman Guardian Inv (NGUAX) Neuberger Berman International Inv (NBISX) Neuberger Berman Manhattan Inv (NMANX) Neuberger Berman Partners Inv (NPRTX) Neuberger Berman Social Res In (NBSRX) New Alternatives Fund (NALFX) New Century Balanced (NCIPX) New Century Capital (NCCPX) New Covenant Growth (NCGFX) Nicholas Equity Income Fund (NSEIX) Nicholas Fund (NICSX) Nicholas High Income Fund I (NCINX) Nicholas II Fund (NCTWX) Nicholas Limited Edition (NCLEX) Nicholas-Applegate Glb Select Fund (NACHX) Nicholas-Applegate Growth Equity A (NAPGX) Nicholas-Applegate Intl Gr Oppty (NAGPX) Nicholas-Applegate US Convertible (NIGIX) Nicholas-Applegate US Emerg Gr Fund (NAGQX) North Track ArcaEx Tech 100 A (PPTIX) North Track S&P 100 Index A (PPSPX) Northeast Investors Growth (NTHFX) Northeast Investors Trust (NTHEX) Northern Instl Balanced A (BBALX) Northern Instl Bond A (BBPAX) Northern Instl Diversified Gr A (BDVAX) Northern Instl Focused Growth A (BFGAX) Northern Instl Int’l Growth A (BIGAX) Northern Technology (NTCHX) Northern Trust Growth Equity (NOGEX) Northern Trust Income Equity (NOIEX) Northern Trust Intl Growth Equity (NOIGX) Northern Trust Select Equity (NOEQX) Northern Trust Small Cap Value (NOSGX) Northern Trust Stock Index (NOSIX) Northern Trust US Govt (NOUGX) Nuveen All Amer Muni A (FLAAX) Nuveen Balanced Muni & Stock A (NBMSX) Nuveen Balanced Stock & Bond A (NNSAX) Nuveen CA Insd Muni Bond Fund R (NCIBX) Nuveen CA Muni Bond Fund R (NCSPX) Nuveen FL Prefrnc Muni Bond A (FLOTX) Nuveen Insured Municipal Bond R (NITNX) Nuveen Interm Duration Muni Bd R (NUVBX) Nuveen MA Insured Muni Bond R (NIMAX) Nuveen MI Muni Bond A (FMITX) Nuveen NY Insured Muni Bond R (NINYX) Nuveen NY Muni Bond R (NTNYX) Nuveen OH Muni Bond A (FOHTX) Nuveen PA Muni Bond A (FPNTX) Nuveen Tradewinds Value Opps A (NVOAX) Oak Value Fund (OAKVX) Oakmark Equity and Income I (OAKBX) Oakmark Equity and Income II (OARBX) Oakmark Fund (The) I (OAKMX) Oakmark Global I (OAKGX) Oakmark International I (OAKIX) Oakmark International Small Cap I (OAKEX)

Inv. Obj./Peer GR GI/LB CG IB/GL GR CH CG MB/LT SC/SV CG GI/LV GR/MG GR BA SC/SB GR/LB SC/SV GI/LV FO AG/GW GR/VL GR/LV OT BA GR GL IN GR/LB CH SC/SB SC/SB GL GR/GW FO CV SC/SG TC GI/LG GR/LB CH BA CG GR GR FO TC GR/LB IN FO AG/LG SC/SV GR GS/LT MB/LT BA BA MC/IS MC/LT MS MB/IS MB/LT MS MS MY/LT MY/LT MS MS FL GR/VL BA BA GR/VL GL FO FO

NAV 5/21/08 18.17 14.11 11.48 16.45 6.84 5.02 11.88 7.12 23.59 14.93 21.06 32.34 33.53 12.32 37.11 26.83 36.09 17.65 21.10 10.19 33.59 26.32 55.82 14.53 18.33 34.23 13.36 47.44 10.15 21.57 19.16 13.69 12.98 43.39 26.05 12.46 25.98 35.11 19.44 6.97 10.01 19.63 6.94 14.89 11.70 12.76 13.78 12.26 11.25 23.22 13.93 17.21 10.08 10.66 24.05 23.93 10.50 10.03 9.84 10.55 8.88 10.27 11.25 10.18 10.68 11.10 10.34 30.60 21.43 28.30 28.15 39.02 23.49 19.20 14.97

Overall 3 4 ▲1 ▲1 3 3 1 4 3 2 1 4 4 ▼3 5 ▼4 1 2 3 2 3 2 2 3 3 5 3 ▼4 3 3 3 2 4 ▼3 1 3 4 ▲3 3 3 3 2 5 3 1 4 5 3 1 3 3 3 3 3 3 2 3 ▲3 3 3 1 2 3 3 2 ▲1 3 ▲2 1 ▲1 4 2 3 3 ▲

5 Yr. Growth Risk Persistence YTD 4 3 3 4 4 4 3 4 3 3 2 4 4 3 3 3 3 2 4 4 4 2 4 2 3 3 2 2 ▼ 4 3 3 3 ▼ 4 5 2 5 ▼ 4 2 3 3 1 2 3 3 3 4 3 2 3 3 3 2 ▼ 3 4 1 1 4 4 ▲ 3 4 3 4 4 4 4 ▲ 3 4 2 1 1 2 2 3 4

June 3, 2008

▼

▼

▼

▲

▲

3 4 3 2 3 1 1 3 2 1 2 3 3 3 4 4 2 3 2 2 2 3 2 4 3 5 3 4 2 4 3 1 3 1 3 2 4 4 3 1 5 3 5 4 1 4 5 3 1 4 2 4 3 1 5 4 2 2 2 1 1 1 1 2 1 1 1 3 3 3 4 1 2 2

-5.1 -4.3 2.2 4.1 -11.4 1.7 1.8 -1.9 -5.4 0.8 -3.5 -7.7 -8.3 -7.3 -5.9 -3.7 2.0 -4.8 -3.3 -9.2 -2.7 -4.0 -7.3 -2.7 -5.5 -5.8 -1.8 -4.2 0.8 -1.7 -6.0 -5.7 -4.6 -4.8 -2.5 -14.5 -6.3 -6.1 -4.5 0.0 -4.0 1.2 -5.8 -8.2 -4.9 -12.9 -5.6 -4.0 -5.1 -8.1 -1.5 -5.1 2.0 -0.5 -2.1 -1.7 0.0 -0.2 -0.3 -0.4 0.3 0.0 -0.3 -0.1 0.2 0.1 -0.1 -4.6 -4.6 2.6 2.5 -2.4 -3.9 -6.4 -3.8

Annualized 3 Mos 5.2 0.4 0.6 2.0 3.6 2.2 0.8 -2.6 1.9 0.5 1.5 5.3 0.1 -0.7 2.3 3.3 8.1 -0.3 5.8 1.1 5.2 0.3 8.6 3.0 3.9 1.1 1.9 1.0 2.7 2.9 -0.1 6.2 4.0 7.4 3.0 -1.5 2.9 0.0 6.1 2.3 0.3 -0.2 1.2 2.0 4.0 -0.1 1.4 1.1 4.0 2.2 1.6 1.0 -0.4 -1.6 -0.2 0.6 -0.2 -0.9 -1.2 -0.9 -1.2 -0.9 -1.3 -0.7 -0.9 -1.1 -0.9 -3.3 1.1 4.5 4.4 0.3 3.9 0.8 5.6

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-7.3 -12.1 3.5 5.0 -11.9 0.2 2.3 -2.1 -11.4 -0.5 -6.9 -12.2 -11.1 -10.8 -11.8 -7.3 0.6 -6.4 -11.8 -3.8 -5.9 -6.3 -10.7 -4.4 -8.7 -10.4 -7.8 -8.2 -1.1 -6.5 -10.5 -10.5 -9.1 -16.6 -4.7 -19.7 -13.5 -10.9 -8.1 -4.3 -7.3 3.1 -11.0 -10.3 -9.5 -18.2 -11.1 -7.2 -9.9 -10.2 -8.7 -9.8 4.1 -0.3 -4.1 -3.6 0.5 -0.2 -0.1 0.1 1.1 1.2 0.4 0.6 1.0 0.6 0.5 -4.6 -1.9 1.2 1.0 -9.8 -8.3 -12.3 -15.8

12.2 4.5 4.8 5.8 8.3 8.0 7.8 1.4 9.9 8.0 13.4 7.5 12.1 10.0 3.7 7.5 16.0 9.7 15.5 20.2 13.5 10.8 22.7 9.0 10.9 8.3 8.3 4.6 5.8 8.5 7.1 15.3 11.4 24.8 13.8 14.9 7.4 6.4 11.4 5.9 4.8 4.3 6.4 9.0 16.4 7.1 6.1 9.5 16.1 8.6 7.9 8.0 3.9 2.7 5.7 8.0 2.9 2.6 2.5 3.0 3.1 3.3 3.0 2.8 3.2 2.8 3.0 — 7.7 12.1 11.8 4.7 13.3 11.6 12.5

14.7 7.9 4.6 7.5 10.8 8.9 9.0 2.8 14.3 10.7 15.7 11.0 13.9 9.4 8.1 12.1 19.1 12.8 23.2 18.4 16.5 12.7 20.3 10.2 12.4 10.8 12.1 9.5 6.9 11.5 11.6 18.0 12.5 28.5 13.8 15.0 11.5 7.8 12.1 8.0 6.1 4.1 8.7 8.3 20.0 9.2 8.5 10.2 19.5 8.1 14.7 10.3 2.7 3.7 6.9 9.0 3.4 3.8 3.3 3.3 3.6 3.7 3.6 3.5 4.0 3.6 3.8 — 10.7 13.0 12.7 8.4 18.9 17.9 23.1

0.8 1.3 4.9 8.0 2.5 1.5 8.1 3.5 8.4 8.3 5.7 8.9 11.2 4.3 3.6 5.1 12.3 3.1 8.2 5.0 5.8 5.9 7.7 4.9 4.5 — 3.6 1.2 2.7 2.8 2.2 13.4 2.1 16.5 8.9 4.2 8.6 2.6 3.9 3.9 4.1 5.4 3.0 2.8 7.4 2.7 2.8 6.3 6.5 4.2 7.5 3.4 4.7 4.2 3.5 5.3 4.5 4.2 3.9 4.5 4.3 4.6 4.5 4.7 4.9 4.3 4.4 — 4.5 11.2 — 4.0 — 10.0 14.9

0.0 0.6 5.1 5.8 0.0 6.9 5.2 2.4 0.2 6.1 1.1 0.0 0.0 1.2 0.0 0.5 0.4 0.7 3.4 1.0 0.4 0.5 0.6 2.0 0.0 0.6 2.1 0.4 7.0 0.4 0.0 1.4 0.0 2.0 1.9 0.0 0.0 1.3 0.2 10.0 2.7 4.8 0.9 0.6 1.4 0.0 0.8 2.6 1.3 0.4 0.9 1.7 2.9 4.2 2.6 2.1 4.2 4.6 4.1 4.5 4.0 3.9 4.0 4.1 4.4 4.0 3.8 0.0 0.0 2.1 1.8 1.3 0.1 0.7 0.9

-0.5 -10.6 5.9 10.2 3.2 -0.1 8.2 -2.7 -8.4 4.2 -2.4 -5.7 -9.5 0.7 -10.2 -1.1 15.3 -2.6 -6.3 13.3 0.3 -2.4 5.9 -2.7 -3.1 -5.9 -5.1 -4.8 -0.7 -2.2 0.5 1.2 -6.2 1.2 5.8 -6.3 -5.9 -4.4 4.3 -4.1 -3.9 3.9 -6.6 4.0 0.6 -4.3 -6.8 -4.5 0.3 4.2 -11.3 -4.9 6.1 0.4 -1.5 0.7 1.1 -0.7 -0.2 1.1 2.1 2.6 1.2 1.7 2.0 1.5 1.2 5.6 3.7 8.0 7.7 -10.2 -5.2 -14.0 -18.6

Ownership Costs $$$ $$$ $$$ $ $ $$$ $ $$ $$ $$$ $ $$ $$ $$ $$ $ $$ $ $$ $$ $ $ $$$ $$ $$ $$ $ $ $ $ $ $$ $$$ $$ $ $$ $$$ $$$ $$ $$ $ $ $ $ $$ $$ $ $ $$ $ $ $ $ $$ $$$ $$$ $ $ $$ $ $ $ $$ $ $ $$ $$ $$$ $$ $ $$ $$ $$ $$ $$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 186 530 I 1011 619 763 1023 135 1023 420 420 420 1024 937 188 1604 1616 1320 189 383 1511 1321 1394 1532 938 1024 I 810 982 983 719 1579 1223 1406 1556 I 1617 823 1024 420 1364 939 1190 421 1209 1545 1556 619 190 I I I 619 1159 384 I 421 1365 810 1579 I I 1191 1532 1424 1556 810 810 136 1322 I 1011 620 1424 219

Fund Name Oakmark Select I (OAKLX) Oberweis Emerging Growth Portfolio (OBEGX) Oberweis Micro Cap Portfolio (OBMCX) Old Mutual Analytic Defensv Eq Z (ANDEX) Old Mutual Barr Han Value Z (OBFOX) Old Mutual Columbus Tech & Comm Z (OBTCX) Old Mutual Emerging Growth Fd Z (OBEHX) Old Mutual Focused Fd Z (OBFVX) Old Mutual Growth Fd Z (OBHGX) Old Mutual Large Cap Gr Concen Z (OLCPX) Old Mutual Mid-Cap Z (OBMEX) Old Mutual Select Growth Z (OBHEX) Old Mutual Small Cap Z (OBSWX) Old Westbury International (OWEIX) Olstein All Cap Value C (OFALX) Oppenheimer AMT-Free Munis A (OPTAX) Oppenheimer AMT-Free NY Munis A (OPNYX) Oppenheimer Balanced A (OPASX) Oppenheimer Capital Appr A (OPTFX) Oppenheimer Capital Income Fd A (OPPEX) Oppenheimer Champion Income A (OPCHX) Oppenheimer Commodity Str Tot Ret A (QRAAX) Oppenheimer Convertible Sec M (RCVGX) Oppenheimer Core Bond A (OPIGX) Oppenheimer Developing Mkts C (ODVCX) Oppenheimer Discovery A (OPOCX) Oppenheimer Equity A (OEQAX) Oppenheimer Equity Income A (OAEIX) Oppenheimer Global Fund A (OPPAX) Oppenheimer Global Opportunities A (OPGIX) Oppenheimer Gold & Spec Min A (OPGSX) Oppenheimer Intl Bond A (OIBAX) Oppenheimer Intl Growth A (OIGAX) Oppenheimer Intl Small Company A (OSMAX) Oppenheimer Limited Term Govt A (OPGVX) Oppenheimer Limited Term Muni A (OPITX) Oppenheimer Ltd Term NY Muni A (LTNYX) Oppenheimer Main St Fund A (MSIGX) Oppenheimer Main St Small Cap A (OPMSX) Oppenheimer Midcap A (OMDAX) Oppenheimer Quest Balanced A (QVGIX) Oppenheimer Quest Internatl Val A (QIVAX) Oppenheimer Quest Opportunity Val A (QVOPX) Oppenheimer Rising Divs Fund A (OARDX) Oppenheimer Small- & Mid- Cap Val A (QVSCX) Oppenheimer Strat Income A (OPSIX) Oppenheimer US Govt Trust A (OUSGX) Oppenheimer Value A (CGRWX) Osterweis Fund (OSTFX) Pacific Advisors Balanced A (PAABX) Pacific Advisors Small Cap A (PASMX) Pacific Capital Gr & Inc A (PCIGX) Pacific Capital Growth Stock Y (PGRSX) Pacific Capital New Asia Gr A (PNAAX) Parnassus Equity Income Fund (PRBLX) Parnassus Fixed-Income Fund (PRFIX) Parnassus Fund (PARNX) Pax World Balanced Fund Ind (PAXWX) Pax World Growth Fund Ind (PXWGX) Payden Global Fixed Inc R (PYGFX) Payden Global Short Bond R (PYGSX) Payden High Income R (PYHRX) Payden Market Return R (PYMRX) Payden Short Bond R (PYSBX) Payson Total Return Fund (PBFDX) Performance Intmed-Term Inc Fd (PFFIX) Performance Large Cap Equity A (PFECX) Performance Mid Cap Equity A (PCGCX) Permanent Portfolio Aggress Gr (PAGRX) Permanent Portfolio Fund (PRPFX) Perritt Micro Cap Opportunities (PRCGX) Philadelphia Fund (PHILX) Phoenix All-Cap Growth A (PASGX) Phoenix Balanced A (PHBLX) Phoenix Capital Growth A (PHGRX)

GR/VL SC/SG SC GI GR TC SC/SG AG SC/SG GR GR/MV GR SC FO GR/VL MB/LT MY/LT AA GR/LB IN/LV CH AA CV CG FO/EM SC/SG FL GR GL GL PM IB FO FO GS/ST MB/IT MY/ST GI/LB SC GR/MG BA FO FL GR/LV SC/SV DB GS/LT GR/LV GR BA SC/SV GI GR PB/NJ IN/LV CG GR BA GR IB/GL IB/GL CH FL CG BA GS/IT GR/LB GR/MG AG AA SC GI/LV GR/LG BA GR/LG

NAV 5/21/08 24.63 20.01 12.03 13.00 7.00 14.91 15.41 22.91 27.03 19.95 11.39 27.31 27.76 11.67 12.69 8.50 12.26 13.05 49.68 11.34 8.77 10.21 14.38 10.16 46.67 53.62 9.99 23.19 68.73 30.74 40.09 6.64 30.21 24.57 9.93 15.04 3.30 35.21 19.04 18.73 14.74 18.98 28.63 17.34 35.14 4.45 9.64 24.57 26.31 18.58 35.17 13.22 9.83 20.14 25.09 16.43 37.14 24.80 12.20 8.71 9.84 7.82 10.44 10.01 13.01 10.37 9.82 13.69 75.12 38.56 24.66 6.17 13.77 13.70 16.17

Overall 5 5 4 3 5 3 4 3 3 3 4 3 4 3 5 5 4 3 3 3 4 3 3 3 1 ▼4 4 3 3 3 2 2 ▲1 3 3 3 1 4 4 4 ▼5 3 1 2 3 1 3 3 3 3 3 5 4 1 2 1 3 2 3 ▼2 3 3 4 2 3 1 4 ▼3 3 1 4 3 4 3 ▼5 ▼

OA-PH

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 25

3 Mos

6 Mos 12 Mos

3 Yrs

5 Yrs

3 5 5 2 3 4 5 ▲ 2 4 4 3 4 3 3 3 5 5 1 3 1 5 5 ▲ 1 ▼ 3 5 4 3 2 3 4 5 5 3 5 1 2 3 ▼ 3 4 3 2 3 1 2 3 3 3 3 2 1 5 3 3 4 2 2 3 2 3 2 1 4 2 1 2 2 3 4 4 2 ▲ 3 2 3 1 3

-0.2 -9.2 -11.9 6.8 -2.9 -1.3 -1.8 1.4 2.7 0.8 -0.4 -3.0 2.9 2.1 -3.0 -5.2 -2.5 -0.1 4.9 -0.2 1.6 19.0 0.9 -0.3 6.8 1.9 4.1 -1.5 3.3 -0.5 -1.5 2.0 4.4 -0.3 1.1 -1.5 -0.7 0.3 1.0 1.9 -3.8 0.1 3.1 2.3 1.1 1.1 -0.5 2.7 0.7 3.0 5.3 0.8 3.6 3.1 4.6 0.4 1.0 1.0 2.6 -0.8 -0.8 3.6 0.0 -0.9 2.0 -0.3 2.3 7.5 -0.8 0.8 -3.2 -1.6 3.0 -0.4 2.6

-14.4 -33.5 -32.4 -3.8 -25.0 -17.5 -21.6 -12.3 -10.1 -13.4 -13.8 -18.7 -10.8 -12.3 -16.4 -8.6 -3.1 -6.6 -9.5 -6.3 -4.7 20.5 -6.6 0.2 -8.9 -13.7 -9.5 -10.3 -11.3 -17.0 -9.6 3.0 -11.8 -26.2 2.8 -1.2 0.6 -12.0 -13.7 -13.1 -11.1 -18.0 -0.7 -5.5 -11.6 1.7 4.9 -9.8 -8.4 -5.2 -11.7 -9.1 -8.3 -9.3 -2.9 3.0 -11.3 -5.9 -9.6 0.7 -0.1 0.2 -11.7 2.1 -8.1 4.3 -9.3 -5.8 -3.3 2.9 -18.1 -9.2 -12.9 -5.0 -12.8

1.1 1.5 3.1 6.2 -1.1 14.2 9.2 8.2 14.6 12.9 9.9 11.3 9.2 11.9 4.0 -1.1 2.2 5.2 8.7 5.4 4.0 15.2 8.1 3.4 31.0 11.3 9.8 6.7 12.5 11.4 41.5 9.1 18.5 22.3 4.1 1.6 3.6 7.4 8.3 5.9 3.0 9.2 9.4 11.1 12.7 6.9 4.0 8.8 7.4 7.5 19.2 4.6 5.9 27.0 11.1 5.7 8.5 8.2 6.3 3.3 3.2 6.2 6.4 3.9 6.5 4.5 7.0 11.8 13.0 13.1 8.4 3.6 7.7 6.3 4.4

6.2 7.4 12.3 10.4 4.7 13.3 11.8 12.6 12.4 10.5 13.6 9.8 13.3 16.8 9.5 2.9 4.7 8.3 9.9 8.7 6.3 20.2 8.4 3.7 37.0 11.4 11.6 11.9 18.0 20.4 34.9 11.7 24.0 32.9 2.9 4.6 4.6 9.8 14.3 9.9 6.8 14.1 10.9 13.2 19.7 7.8 3.6 13.6 12.7 8.1 29.5 7.4 6.4 29.7 9.9 4.3 6.4 9.8 11.3 3.2 3.0 6.6 9.7 2.8 8.0 3.7 8.9 15.0 15.4 13.5 17.0 9.3 10.0 7.5 5.7

▲

▲

▲

▲

5 3 3 3 4 3 3 3 3 3 2 3 3 2 3 3 2 4 4 4 2 3 4 3 1 3 3 3 2 2 2 1 1 1 3 3 1 4 2 3 5 2 3 3 2 1 3 3 3 4 2 5 5 1 3 2 3 4 3 3 3 1 4 3 4 3 4 3 2 3 2 3 4 4 5

-1.5 -24.7 -24.3 -2.0 -7.7 -13.7 -14.0 -6.3 -6.9 -10.7 -7.5 -15.6 -5.2 -5.3 -8.6 -4.5 -2.2 -3.5 -4.6 -2.4 -1.7 18.6 -2.1 -0.2 -3.0 -9.3 -4.2 -6.2 -5.4 -7.2 1.5 5.6 -4.1 -14.4 1.7 -0.8 0.2 -6.1 -6.2 -7.2 -5.0 -8.9 0.9 -3.4 -6.2 2.4 1.1 -3.9 -4.7 -1.9 -2.5 -5.6 -5.3 -5.1 -1.3 1.7 -2.0 -3.8 -4.6 0.2 -1.1 1.7 -6.4 0.5 -2.0 1.9 -7.3 -2.9 -6.5 3.5 -10.7 -7.8 -6.7 -3.4 -8.4

10 Yrs

Trailing Yield

Ownership Costs

9.1 3.4 8.6 3.0 — -0.9 -4.0 — 1.3 5.3 11.0 2.8 6.9 3.0 8.3 3.4 4.5 5.1 5.0 4.5 3.7 10.5 4.8 4.6 18.5 3.0 4.7 7.0 9.8 10.6 18.2 9.8 7.8 13.9 4.3 4.4 4.5 3.6 — 3.6 5.5 5.8 4.6 4.6 9.2 6.1 5.0 4.7 11.0 5.3 7.6 3.0 1.4 13.4 9.4 5.3 4.7 6.8 2.5 4.9 4.6 5.1 3.0 4.6 3.0 5.2 2.2 6.6 8.5 9.3 10.3 3.3 1.7 4.8 -2.1

1.1 0.0 0.0 1.2 2.7 0.0 0.0 0.3 0.1 0.0 0.0 0.0 0.8 1.3 0.0 5.1 4.1 1.9 0.0 4.0 6.6 10.4 3.9 4.5 0.2 0.0 0.4 1.2 1.1 0.4 1.9 3.1 0.7 3.6 4.2 4.0 3.8 1.1 0.2 0.0 1.5 1.4 10.6 1.3 0.0 4.5 3.8 0.9 1.2 1.0 0.0 0.7 0.5 0.9 4.4 3.9 0.0 1.8 0.0 5.3 4.8 7.7 4.4 3.6 3.3 4.1 0.4 0.0 0.0 0.4 1.0 1.6 0.0 2.3 0.0

$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$ $$$ $ $ $ $ $$ $ $ $ $ $ $$ $ $$$ $$$ $$ $ $$ $$ $$$ $$$ $$$

Annualized

5 Yr. Growth Risk Persistence YTD

-17.8 -19.8 -22.9 -5.4 -22.3 8.3 -6.1 -5.9 6.6 4.0 -10.2 1.1 -6.2 -8.0 -17.5 -14.9 -5.6 -4.4 2.6 -8.5 -5.7 47.1 -1.4 1.8 21.3 5.4 -2.0 -7.5 -5.3 -9.0 21.9 10.2 -1.3 -7.5 4.7 -2.0 0.6 -6.6 -14.0 -5.8 -12.8 -14.9 8.0 -0.6 -7.9 5.1 5.3 -7.0 -7.3 -0.4 -4.6 -8.6 -3.9 23.0 4.5 5.8 -2.4 1.1 0.6 2.9 1.3 0.4 -8.3 4.6 -3.1 6.8 -4.0 5.0 1.6 11.3 -15.2 -5.3 0.1 -1.3 -3.9

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

PH-PR

Page 26

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 1557 1011 1511 1192 1424 I 531 1406 202 I I 735 1210 I 620 984 720 1395 1579 1580 I 1580 1512 1557 I 1545 I I 1533 823 1533 I 1533 I 202 1160 1533 1366 1223 385 1120 338 620 I I 1223 421 219 I 1425 736 1604 823 386 I 1193 1534 I 1534 1570 1425 I 191 1194 621 421 I I 1121 794 793 I 1161 202 I

Fund Name Phoenix Core Bond Fund A (PHGBX) Phoenix Growth & Income A (PDIAX) Phoenix High Yield A (PHCHX) Phoenix Income & Growth A (NAINX) Phoenix Insight Balanced Inst (HIBLX) Phoenix Insight Equity Fund I (HEQIX) Phoenix Insight Small Cap Opp Inst (HSCIX) Phoenix International Strategies A (PHITX) Phoenix Mid-Cap Growth Fund A (PHSKX) Phoenix Multi-Sector Fixed Inc A (NAMFX) Phoenix Multi-Sector Short Term A (NARAX) Phoenix Real Estate Securities A (PHRAX) Phoenix Small Cap Value A (PDSAX) Phoenix Small-Cap Growth A (PAMAX) Phoenix Strategic Growth A (PSTAX) Phoenix Worldwide Strategies A (NWWOX) PIA OCM Gold Fund (OCMGX) PIMCO Convertible Bond Inst (PFCIX) PIMCO Emerging Markets Bond Inst (PEBIX) PIMCO Foreign Bond Inst (PFORX) PIMCO Global Bond II A (PAIIX) PIMCO Global Bond Inst (PIGLX) PIMCO High Yield Inst (PHIYX) PIMCO Long Term US Govt Inst (PGOVX) PIMCO Low Duration II Inst (PLDTX) PIMCO Low Duration Inst (PTLDX) PIMCO Moderate Duration Inst (PMDRX) PIMCO Real Return Asset Inst (PRAIX) PIMCO Short Term Inst (PTSHX) PIMCO StocksPLUS Inst (PSTKX) PIMCO Total Return II Inst (PMBIX) PIMCO Total Return III Inst (PTSAX) PIMCO Total Return Inst (PTTRX) PIMCO Total Return Mortgage Inst (PTRIX) Pin Oak Aggressive Stock (POGSX) Pioneer AmPac Growth Fund A (PAPRX) Pioneer Bond Fund A (PIOBX) Pioneer Classic Balanced A (AOBLX) Pioneer Emerging Markets A (PEMFX) Pioneer Equity Income A (PEQIX) Pioneer Europe Select Equity A (PERAX) Pioneer Fund A (PIODX) Pioneer Growth Leaders A (LRPSX) Pioneer High Yield A (TAHYX) Pioneer International Equity A (PIWEX) Pioneer International Value A (PIIFX) Pioneer Mid-Cap Growth Fd A (PITHX) Pioneer Mid-Cap Value A (PCGRX) Pioneer Oak Ridge Sm Cap Growth A (ORIGX) Pioneer Protected Princip Pl A (PPPAX) Pioneer Real Estate Shares A (PWREX) Pioneer Tax Free Income Fund A (MOMTX) Pioneer Value Fund A (PIOTX) PNC Equity Income A (PEQAX) Polaris Global Value Fund (PGVFX) Primary Trend Fund (PTFDX) Principal Inv Bond & Mtge Sec A (PRBDX) Principal Inv Disc Lg Cap Blend A (PRMGX) Principal Inv Income Fund A (CMPIX) Principal Inv Mortgage Secs A (CMPGX) Principal Inv SAM Balanced A (SABPX) Principal Inv SAM Constv Bal A (SAIPX) Principal Inv SAM Constv Growth A (SAGPX) Principal Inv SAM Flexible Inc A (SAUPX) Principal Inv SAM Strat Gr A (SACAX) Principal Inv West Coast Equity A (CMNWX) ProFunds Biotech Ultra Sector Svc (BIPSX) ProFunds Energy UltraSector Inv (ENPIX) ProFunds Europe 30 Inv (UEPIX) ProFunds Mobile Telecom UltrSec Svc (WCPSX) ProFunds Telecom UltraSector Inv (TCPIX) ProFunds Ultra Bull Fund Inv (ULPIX) ProFunds Ultra Japan Inv (UJPIX) ProFunds Ultra NASDAQ-100 Fund Inv (UOPIX) ProFunds Ultra Short OTC Fund Inv (USPIX)

Inv. Obj./Peer GS/LT GI CH FL BA GI/LB SC FO AG/GW DB DB RE SC AG/MG GR GL PM CV IB/FO IB/FO IB IB CH GS/LT DB DB DB/IT DB CG/ST GI CG CG CG GM AG/GW PB CG BA FO/EM IN/LV EU GI/LB GR/LG CH FO FO GR/MG GR/MV SC/SB BA RE MB/LT GI/VL IN GL FL CG BA CG GM BA BA GR FL GR GR HL EN EU UT UT AG PB/JP AG AG

NAV 5/21/08 8.30 17.43 4.61 8.87 13.88 13.46 13.21 14.64 16.70 10.48 4.55 30.72 11.99 32.40 10.17 10.58 22.12 14.05 10.82 10.27 9.80 10.75 9.50 11.13 9.86 10.14 10.32 12.08 9.86 10.64 10.44 9.58 10.91 10.90 22.81 17.82 9.26 9.38 37.78 29.44 31.21 45.28 12.39 10.40 24.77 26.13 15.70 21.60 25.24 9.39 23.49 10.88 13.63 3.35 17.18 11.53 10.03 14.33 9.00 10.68 14.22 10.95 16.11 11.35 17.80 41.65 47.55 68.53 19.33 8.17 18.72 61.75 27.15 27.85 9.87

Overall 2 3 ▲3 ▲2 2 2 ▲3 2 5 3 ▼3 3 5 ▼5 4 2 3 3 3 2 2 3 3 3 2 2 2 3 2 3 2 2 2 1 4 3 1 3 ▼2 ▲2 4 3 3 4 3 2 4 3 3 3 ▲3 ▼5 5 5 3 3 5 3 1 1 2 3 2 2 3 3 4 2 3 5 4 4 ▲4 4 5

June 3, 2008

3 Mos

6 Mos 12 Mos

3 Yrs

5 Yrs

2 2 ▼ 4 1 1 3 5 3 3 3 2 5 4 4 3 3 5 2 5 3 3 5 ▼ 4 5 2 2 3 5 1 2 4 3 ▼ 4 2 5 ▲ 2 3 1 5 2 5 2 2 ▼ 5 3 ▼ 4 3 3 3 1 5 5 3 3 3 1 3 3 3 2 1 1 2 1 3 3 5 5 3 5 5 5 5 5 5

-0.9 -0.1 1.8 -0.4 0.8 1.7 0.3 4.8 0.4 -0.2 -1.0 9.9 0.1 -4.8 3.7 3.5 -11.5 1.8 -6.4 -0.4 -0.8 7.9 2.1 -2.1 -0.3 -1.2 0.3 -3.3 -0.3 0.3 0.6 0.0 -4.1 -1.1 3.8 2.5 0.4 -0.7 5.2 3.4 0.6 1.7 2.0 2.1 4.1 4.5 2.8 -0.8 3.7 -0.2 8.5 -8.2 -2.9 -1.8 3.4 -2.5 -3.4 1.6 0.1 -0.2 1.4 0.9 2.0 0.7 2.4 1.4 0.3 24.1 4.4 -24.3 -3.2 0.2 3.4 5.7 -11.0

1.5 -9.5 -2.0 -4.0 -5.6 -7.5 4.7 -14.1 -12.4 -2.1 -0.9 -7.1 -15.6 -21.4 -11.9 -12.3 -11.9 -5.1 -5.4 3.1 3.3 8.4 1.5 6.0 4.4 2.1 5.6 5.7 1.7 -9.1 7.5 5.8 1.8 1.6 -16.6 -8.5 3.9 -6.2 -12.9 -6.9 -30.1 -7.8 -8.1 -5.5 -11.3 -13.0 -10.0 -11.1 -7.7 -1.2 -7.7 -8.0 -25.1 -16.7 -12.4 -8.3 -2.6 -9.9 3.0 3.3 -5.8 -6.3 -8.5 -0.7 -10.0 -10.1 -15.4 7.3 -10.7 -59.0 -23.5 -22.3 -34.4 -30.8 27.7

4.0 8.2 5.0 5.8 6.7 11.0 9.5 14.6 3.0 4.4 3.4 13.1 3.3 6.5 5.3 12.1 28.9 9.8 6.6 3.8 3.4 4.4 6.9 4.5 4.6 3.9 5.0 3.8 3.8 7.9 5.7 5.4 4.3 4.0 7.0 7.6 4.3 6.9 35.6 9.0 3.2 9.2 5.7 6.1 11.7 15.7 8.6 7.4 9.1 3.3 11.9 -0.4 0.6 0.7 9.9 5.0 1.3 9.4 4.4 4.1 7.8 5.4 8.7 5.2 9.1 10.1 7.8 35.3 12.4 -24.0 11.1 7.6 14.4 12.3 -16.8

3.3 10.6 5.9 7.0 9.4 14.7 15.9 18.4 9.1 5.9 3.8 19.5 11.5 10.2 6.9 15.0 21.4 10.4 9.0 4.3 3.8 6.8 7.8 5.0 3.3 3.1 4.3 7.7 3.0 10.2 4.9 4.9 4.3 4.1 11.6 7.9 4.9 7.9 34.9 13.1 12.2 11.6 6.7 7.6 17.3 18.3 10.7 14.4 13.6 3.0 18.7 2.3 6.8 5.9 17.7 8.4 2.2 10.0 4.5 3.5 9.4 6.8 11.0 5.9 12.2 13.9 10.1 41.1 15.8 1.9 11.6 14.0 21.9 15.5 -22.0

▲

▲

▼

3 4 2 4 3 2 3 1 4 2 3 2 3 3 5 2 2 3 1 2 3 2 1 2 3 3 3 2 3 4 3 3 2 2 3 4 2 4 1 3 2 3 5 2 2 1 4 3 3 5 2 3 3 4 2 4 4 3 3 3 4 5 4 4 3 3 3 1 2 3 2 3 2 3 5

0.0 -5.9 -0.2 -2.8 -3.8 -5.3 -3.9 -5.6 -5.7 -0.5 -0.6 7.8 -8.5 -14.5 -7.1 -5.4 -5.8 -0.6 -5.2 1.6 1.8 6.0 2.0 1.9 2.2 0.9 2.9 2.6 1.1 -4.7 4.1 3.0 -0.9 0.5 -8.8 -3.9 1.9 -4.0 -6.7 -1.5 -8.6 -3.2 -4.2 -1.5 -5.5 -6.4 -5.0 -5.1 -4.8 -0.6 8.9 -7.0 -11.3 -3.6 -2.6 -3.5 -2.6 -6.4 1.4 1.5 -2.8 -1.3 -4.4 -0.3 -5.3 -5.6 1.1 3.9 -5.3 -44.1 -16.5 -12.4 -15.7 -18.6 13.0

10 Yrs

Trailing Yield

Ownership Costs

4.2 4.0 1.6 4.0 5.4 5.6 9.1 4.3 1.8 4.7 4.8 13.5 7.8 3.0 2.1 5.0 13.6 — 12.2 5.8 5.3 6.7 6.0 7.3 4.8 4.9 6.2 — 4.1 4.1 6.5 6.6 6.3 6.1 0.1 4.2 5.5 5.4 12.4 5.9 — 5.0 1.4 9.0 3.9 1.9 2.2 7.7 5.9 — 10.9 3.4 1.1 — — 3.9 3.8 3.3 5.7 4.9 6.9 4.6 7.2 5.7 7.1 10.6 — — — — — -2.5 — -9.2 —

4.4 0.4 7.2 2.3 2.2 1.1 0.0 1.1 0.0 5.6 5.4 1.2 0.0 0.0 0.0 0.8 0.0 1.7 6.3 3.3 2.8 2.3 6.6 4.6 4.5 2.3 4.5 3.0 4.7 5.9 4.8 4.8 4.8 1.3 0.0 0.1 4.5 3.2 0.0 2.3 1.5 0.8 0.0 0.4 0.6 0.7 0.0 0.4 0.0 1.5 2.5 3.7 2.0 1.3 1.4 1.3 5.1 0.8 5.1 4.4 3.2 3.8 2.6 4.0 2.4 0.5 0.0 0.1 7.5 0.0 3.8 2.4 9.4 0.0 5.6

$$$ $$$ $$$ $$$ $ $ $ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $ $ $ $$ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$ $$ $$ $$$ $$ $$ $$ $$ $$ $$ $$ $$$ $$$ $$ $$ $$$ $$ $$ $$ $$ $$

Annualized

5 Yr. Growth Risk Persistence YTD

3.0 -4.6 -2.0 -0.7 -2.5 -3.5 1.8 -3.4 -11.2 -0.9 0.6 -12.6 -18.6 -12.3 0.3 -3.6 14.7 0.0 -3.1 5.1 5.3 16.2 1.7 8.7 7.8 5.3 9.3 10.4 4.1 -3.4 10.8 9.8 5.6 3.1 -5.3 -0.7 6.1 -3.9 20.6 -7.5 -29.6 -3.8 -1.4 -3.8 -8.5 -1.0 -1.7 -9.2 -0.2 0.5 -14.5 -8.9 -22.3 -20.2 -11.8 -7.4 -1.9 -5.1 4.5 5.5 0.9 -1.4 -0.6 2.5 -1.7 -1.4 -9.7 37.6 2.4 -64.1 -17.7 -17.9 -38.2 -5.2 -9.8

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Total Return Through 4/30/08

Value Line Rankings Page 795 192 1557 1425 1323 1324 1587 422 824 1396 202 1545 387 1122 339 985 1580 564 220 596 1512 1512 1534 940 941 942 1223 220 137 422 1627 1617 1024 220 1604 1604 1570 796 220 193 532 138 1406 811 I 1425 422 1210 I I 824 621 I I 1224 1535 I 825 624 392 I I 1210 1559 1426 1588 1534 388 389 824 1580 221 1512 221 I

Fund Name ProFunds Utilities UltraSector Inv (UTPIX) Prudent Bear Fd (BEARX) Putnam American Govt Inc A (PAGVX) Putnam Asset Alloc: Bal A (PABAX) Putnam Asset Allocation: Conserv A (PACAX) Putnam Asset Allocation: Growth A (PAEAX) Putnam CA Tax Exempt Income A (PCTEX) Putnam Capital Appreciation A (PCAPX) Putnam Classic Equity A (PXGIX) Putnam Convertible Inc-Gr Tr A (PCONX) Putnam Discovery Growth Fund A (PVIIX) Putnam Diversified Income Trust A (PDINX) Putnam Equity Income A (PEYAX) Putnam Europe Equity A (PEUGX) Putnam Fund for Gr & Inc A (PGRWX) Putnam Global Equity Fd A (PEQUX) Putnam Global Income A (PGGIX) Putnam Global Natural Resources A (EBERX) Putnam Growth Opportunities A (POGAX) Putnam Health Sciences Trust A (PHSTX) Putnam High Yield Advantage A (PHYIX) Putnam High Yield Trust A (PHIGX) Putnam Income Fund A (PINCX) Putnam International Capital Opp A (PNVAX) Putnam International Equity A (POVSX) Putnam Intl Growth and Income A (PNGAX) Putnam Intl New Opportunities A (PINOX) Putnam Investors Fund A (PINVX) Putnam New Opportunities A (PNOPX) Putnam New Value Fund A (PANVX) Putnam NJ Tax Exempt Income A (PTNJX) Putnam NY Tax Exempt Income A (PTEIX) Putnam OTC & Emerging Growth A (POEGX) Putnam Research Fund A (PNRAX) Putnam Tax Exempt Income A (PTAEX) Putnam Tax-Free High Yield B (PTHYX) Putnam US Govt Income Tr A (PGSIX) Putnam Utilities Gr and Inc A (PUGIX) Putnam Vista Fund A (PVISX) Putnam Voyager A (PVOYX) Quaker Small Cap Value A (QUSVX) Quaker Strategic Growth A (QUAGX) Quant Emg-Markets Ord (QFFOX) Quant Long/Short Ord (USBOX) Quant Small Cap Ord (USBNX) Rainier Balanced Fd (RIMBX) Rainier Core Equity Fd (RIMEX) Rainier Small-Mid Cap Equity Fd (RIMSX) Red Oak Technology Select (ROGSX) Regions Morg Keeg Sel Bal A (FPALX) Regions Morg Keeg Sel Growth A (RGRAX) Reynolds Blue Chip Growth Fund (RBCGX) RidgeWorth High Income C (STHIX) RidgeWorth Intl Eq Index I (SIEIX) RidgeWorth Intl Equity I (STITX) RidgeWorth Inv Grade Bond I (STIGX) RidgeWorth Inv Grade T/E Bnd A (SISIX) RidgeWorth Lg Cap Core Equity I (CRVAX) RidgeWorth Lg Cap Gr Stock A (STCIX) RidgeWorth Lge Cap Val Equity A (SVIIX) RidgeWorth Ltd-Trm Fed Mtg I (SLMTX) RidgeWorth Mid-Cap Core Equity I (SAGTX) RidgeWorth Small Cap Val Eq I (SCETX) RidgeWorth US Govt Secs A (SCUSX) RiverSource Balanced Fund A (INMUX) RiverSource CA Tax Exempt Fund A (ICALX) RiverSource Diversified Bond A (INBNX) RiverSource Diversified Eqty Inc A (INDZX) RiverSource Dividend Opportunity A (INUTX) RiverSource Equity Value B (INEGX) RiverSource Global Bond A (IGBFX) RiverSource Growth Fund A (INIDX) RiverSource High Yield Bond Fund A (INEAX) RiverSource Mid Cap Growth A (INVPX) RiverSource NY Tax Exempt Fund A (INYKX)

Inv. Obj./Peer UT GR GS/LT BA AA AA MC/LT GR GI/LB CV AG/GW DB IN/LV EU GI/LV GL IB/GL EN GR/LG HL CH CH CG FO FO FO FO GR/LB AG/GW GR/VL MS MY/LT SC/SG GR MB/LT MB/HY GM UT GR/GW GR/LG SC/SV AG FO GR/LG SC/SB BA GR/LB SC TC BA GI/LG GR/LG CH FO FO CG MB/IT GI GR/LB IN/LV GM AG/MG SC/SV GS/LT BA MC/LT CG IN/VL IN GI/LV IB/GL GR/LG CH GR MY/LT

NAV 5/21/08 28.01 6.23 9.19 12.08 9.53 13.93 7.89 18.92 11.86 20.26 21.06 9.56 15.61 25.60 14.46 11.09 13.06 36.39 14.67 49.21 5.92 7.67 6.59 38.23 26.85 13.70 18.26 13.59 50.20 14.00 9.16 8.52 9.51 15.15 8.59 12.31 13.53 15.77 11.37 18.23 14.46 28.82 30.09 15.17 20.65 16.80 28.92 37.30 7.55 16.21 20.03 31.88 6.60 19.12 14.71 10.65 11.73 14.92 9.86 12.85 9.92 12.18 11.67 10.45 10.60 4.98 4.82 11.54 8.58 12.96 7.04 29.48 2.75 9.51 4.94

Overall 3 3 2 3 3 3 3 5 5 ▲2 5 3 3 2 5 3 2 2 4 3 5 3 3 3 2 ▼3 2 5 5 4 1 3 4 5 2 3 1 1 5 5 4 1 2 4 4 2 1 3 5 2 2 3 3 1 2 ▼2 2 3 3 3 2 3 3 2 3 4 5 ▼3 3 ▼3 2 4 4 4 5

5 Yr. Growth Risk Persistence YTD 5 3 3 1 1 2 5 3 3 2 3 ▼ 4 2 3 3 3 4 5 3 2 ▼ 4 5 3 4 3 3 4 3 3 3 4 4 4 3 4 ▲ 3 3 3 4 3 ▲ 3 ▼ 4 5 3 4 1 3 4 5 1 ▼ 3 3 4 3 3 3 3 2 3 2 1 3 3 2 1 4 2 3 2 3 4 ▲ 2 ▼ 5 4 4

PR-RI

Page 27

▲

▼

2 4 3 5 4 3 2 4 4 3 4 1 3 1 4 2 2 1 5 4 4 1 2 1 1 1 1 4 4 3 1 1 3 5 1 2 2 2 3 5 2 2 1 3 2 4 3 2 4 3 4 4 1 1 1 3 3 3 4 3 3 3 2 3 4 3 5 1 2 2 2 5 2 3 5

-8.2 -0.5 1.7 -3.2 -1.3 -4.3 -0.5 -7.1 -9.2 -0.6 -8.6 -2.0 -4.8 -4.0 -7.5 -8.1 3.9 3.5 -6.6 -4.9 1.1 1.2 -0.5 -3.0 -4.4 -4.4 -6.0 -8.0 -7.0 -10.2 0.5 0.5 -9.0 -7.3 0.2 -1.1 1.6 -4.7 -6.7 -7.0 -3.2 0.6 -6.5 -4.8 -9.5 -2.4 -4.6 -7.6 -7.1 -0.2 -4.0 -2.3 0.1 -3.3 -5.9 1.2 1.6 -7.6 -8.5 -5.3 1.0 -5.2 -4.6 1.7 -3.2 -1.4 -1.4 -5.3 -7.0 -4.5 3.4 -10.4 -2.2 -6.8 -1.2

Annualized 3 Mos 3.1 -2.8 -0.8 0.3 -0.5 1.4 -1.4 -0.1 -3.7 1.1 0.1 0.2 -0.6 5.9 -2.9 2.0 1.3 16.5 0.8 -3.1 2.9 3.1 -2.0 7.3 4.7 6.5 4.2 0.6 2.2 -5.4 -0.9 -0.8 -0.3 -0.6 -1.2 -2.4 0.1 2.0 3.1 1.5 1.4 10.9 10.8 4.0 -0.3 2.7 4.2 3.3 6.3 1.0 3.0 -0.1 2.3 5.6 4.0 -0.4 -0.2 0.3 2.6 -1.2 -0.4 2.1 -0.4 -0.4 -0.4 -2.2 -2.0 1.3 -2.1 1.7 1.3 -4.6 0.7 3.5 -2.2

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-8.8 7.1 4.4 -7.0 -3.0 -9.7 -0.7 -13.4 -17.8 -5.2 -12.2 -1.9 -9.2 -7.4 -14.9 -15.9 4.3 1.9 -10.2 -9.0 -0.3 -0.7 0.1 -14.6 -11.9 -12.6 -13.7 -14.3 -11.8 -16.9 1.2 0.6 -13.0 -14.1 0.7 -2.2 3.6 -5.5 -12.1 -11.0 -11.9 1.9 -15.1 -9.6 -18.0 -3.7 -7.5 -13.4 -15.1 -1.6 -6.6 -4.8 -2.1 -8.2 -12.6 3.4 3.1 -12.8 -10.4 -10.3 2.3 -10.0 -12.0 3.7 -6.7 -1.8 -1.4 -9.9 -12.4 -8.9 3.9 -16.9 -5.5 -13.7 -1.8

14.6 6.6 5.6 6.2 5.2 9.0 3.4 4.7 1.2 9.9 8.8 5.1 8.6 17.4 3.2 11.7 5.7 27.7 6.8 2.5 2.1 8.5 4.4 18.8 15.4 15.8 16.3 4.5 7.6 3.0 4.3 4.3 10.9 4.5 4.0 3.0 5.6 15.7 6.7 5.6 7.6 17.4 33.1 7.3 9.3 9.4 12.6 17.3 7.6 10.5 10.1 6.7 6.3 17.1 14.8 4.7 3.4 6.3 7.0 8.2 3.8 8.7 11.0 4.1 6.0 1.3 1.0 12.7 8.9 11.5 4.5 4.6 1.3 8.4 -1.3

22.5 1.5 4.1 8.7 6.5 12.3 3.9 8.2 6.1 11.0 9.8 6.9 11.6 19.2 7.8 13.8 7.3 29.4 5.6 5.9 2.6 9.7 4.1 24.9 17.4 19.6 18.7 8.5 10.0 9.4 4.4 4.4 11.6 7.4 4.4 4.7 4.5 18.2 11.6 6.2 14.4 19.7 38.9 8.9 15.2 9.2 13.2 19.8 9.0 8.9 9.3 5.9 7.6 21.2 18.8 4.0 3.2 11.4 6.7 11.7 2.9 13.6 16.9 3.2 8.2 2.5 1.9 17.7 11.4 14.3 6.0 6.8 5.2 9.4 0.2

— 3.7 5.1 4.2 4.5 5.1 4.6 0.7 0.9 5.0 0.8 5.0 5.8 5.9 2.5 6.3 5.7 13.5 -0.9 2.8 -4.6 4.5 4.6 12.7 8.0 7.3 6.3 0.9 1.1 5.5 4.7 4.9 -3.6 2.7 4.6 3.5 5.2 6.0 2.6 1.3 8.0 17.1 15.9 2.5 6.4 5.2 5.3 8.7 — — 2.8 -1.5 6.2 7.1 5.0 5.1 4.4 4.7 2.3 4.4 4.5 4.1 8.8 4.7 1.0 3.7 3.5 7.9 4.4 4.2 5.3 -1.2 1.9 4.9 2.7

0.2 3.1 4.6 1.8 3.0 1.0 3.8 0.0 1.4 2.5 0.0 5.5 1.7 1.5 1.7 2.8 4.3 0.2 0.0 0.5 6.2 7.4 5.7 3.8 2.7 1.8 1.3 0.0 0.0 1.2 4.0 3.8 0.0 0.3 4.2 4.3 4.1 1.4 0.0 0.0 0.0 0.0 0.5 0.0 0.5 1.5 0.4 0.0 0.0 1.1 0.1 0.6 7.5 2.4 2.0 4.5 2.8 1.3 0.2 1.5 4.9 0.7 1.0 4.3 2.4 2.3 0.0 1.3 2.8 0.4 3.2 0.9 0.0 0.0 0.0

-6.8 12.3 8.6 -5.0 -1.4 -5.3 -0.2 -16.3 -20.6 -0.6 -6.7 -0.9 -6.4 -2.7 -16.8 -7.9 9.7 25.6 -4.3 -11.9 -1.3 -0.5 2.7 -4.3 -4.4 -4.7 -3.7 -15.2 -6.9 -18.8 2.5 1.8 -7.4 -11.6 1.6 -2.8 6.9 2.5 -8.3 -5.0 -14.8 24.7 22.1 -11.6 -14.3 4.5 4.0 1.1 -4.1 8.6 6.5 4.9 -2.9 -0.4 -3.7 6.3 4.7 -11.6 1.7 -7.2 4.8 -8.2 -9.2 6.5 -4.8 -1.8 -1.6 -3.2 -8.1 -3.4 8.6 -11.1 -9.6 -1.5 -2.8

Ownership Costs $$ $$ $$ $$$ $$$ $$$ $$ $$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$ $$$ $$$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$ $$ $$ $$ $$ $$ $$ $$$ $$$ $$ $$ $ $$ $ $$ $ $$$ $$$ $ $$ $$ $$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

RI-SE

Page 28

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page I 1557 1025 1195 1605 1605 1617 533 534 I 535 536 537 340 1325 221 1025 565 621 1535 1011 1210 423 1211 1411 I I I I 390 I I I 566 597 I 621 I I I 203 I I I 797 798 I I 824 811 I 1224 1326 1327 I 1025 1558 1426 I 423 986 622 622 987 1571 1558 1558 1513 825 139 1025 1026 1545 221 222

Fund Name RiverSource Precious Metal&Mining A (INPMX) RiverSource Short Dur US Gov’t A (IFINX) RiverSource Small Company Index A (ISIAX) RiverSource Strategic Allocation A (IMRFX) RiverSource T/E High Income A (INHYX) RiverSource Tax-Exempt Bd Fd A (INTAX) Rochester Fund Municipals A (RMUNX) Royce Heritage Fund Service (RGFAX) Royce Low-Priced Stock Fund (RYLPX) Royce Micro-Cap Inv (RYOTX) Royce Opportunity Fund Inv (RYPNX) Royce PA Mutual Fd Inv (PENNX) Royce Premier Fd (RYPRX) Royce Total Return Fd Investor (RYTRX) RS Asset Allocation A (GUAAX) RS Core Equity Fund A (GPAFX) RS Emerging Growth Fd (RSEGX) RS Global Natural Resources Fd (RSNRX) RS Growth Fund (RSGRX) RS Investment Quality Bond A (GUIQX) RS MidCap Opportunities Fd (RSMOX) RS Partners Fd (RSPFX) RS Select Growth Fd (RSDGX) RS Smaller Company Growth (RSSGX) RS Value Fund (RSVAX) Russell Diversified Equity Fund C (RDECX) Russell International Securities C (RCISX) Russell LifePoints Bal Strat C (RBLCX) Russell LifePoints Eq Growth Str C (RELCX) Russell Select Value E (RSVEX) Russell Special Growth C (RSPCX) Rydex Biotechnology Inv (RYOIX) Rydex Energy Inv (RYEIX) Rydex Energy Services Inv (RYVIX) Rydex Health Care Inv (RYHIX) Rydex Inverse NASDAQ-100 2X Str H (RYVNX) Rydex Inverse S&P 500 Str Inv (RYURX) Rydex Leisure Inv (RYLIX) Rydex Nova Inv (RYNVX) Rydex OTC 2X Strategy H (RYVYX) Rydex OTC Inv (RYOCX) Rydex Series-Precious Metal Inv (RYPMX) Rydex Series-Sector Rotation C (RYISX) Rydex Technology Inv (RYTIX) Rydex Telecomm Inv (RYMIX) Rydex Utilities Adv (RYAUX) Schroder International Alpha Fund (SCIEX) Schroder US Opportunities Fund (SCUIX) Schwab 1000 Inv (SNXFX) Schwab Core Equity (SWANX) Schwab Health Care Focus (SWHFX) Schwab International Index Inv (SWINX) Schwab MarketTrack Balanced Port (SWBGX) Schwab MarketTrack Growth Port (SWHGX) Schwab S&P 500 Inv (SWPIX) Schwab Small-Cap Index Inv (SWSMX) Schwab Total Bond Market Fd (SWLBX) Schwab Viewpoints Fund Inv (SWOBX) Schwartz Value Fund (RCMFX) Security Equity Fund- Equity A (SECEX) Security Equity Fund- Global A (SEQAX) Security Large Cap Value A (SECIX) Security Mid Cap Value A (SEVAX) SEI Asset Alloc-Dvrs Glb Gr A (SAGRX) SEI Daily Inc Tr-GNMA Bond A (SEGMX) SEI Daily Inc Tr-Int Dur Gov Bd A (TCPGX) SEI Daily Inc Tr-Sh Dur Gov Bd A (TCSGX) SEI Instl Mgd High Yield Bond A (SHYAX) SEI Instl Mgd Large Cap Value A (TRMVX) SEI Instl Mgd MidCap Fd A (SEMCX) SEI Instl Mgd Sm Cp Gwth A (SSCGX) SEI Instl Mgd Small Cap Value A (SESVX) SEI Instl Mgd Tr-Core Fix Inc A (TRLVX) SEI Instl Mgd Tr-Large Cap Gr A (SELCX) SEI Instl Mgd Tr-T/M Lg Cap A (TMLCX)

Inv. Obj./Peer PM GS/ST SC/SB FL MB/HY MB/LT MY/LT SC SC/SV SC/SV SC SC/SV SC/SV GI/SV AA GR/LB SC/SG EN GR/LG CG GI/MG SC/SV GR SC/SG GL GI FO BA AG IN AG HL EN EN HL AG GR OT AG/LG AG AG/LG PM AG TC UT UT FO SC/SV GI/LB GR HL FO AA AA GI/LB SC GS/LT BA SC/SV GR/LB GL GR/VL GR/MB GL GM GS/IT GS/ST CH GI/LV AG/MB SC/SG SC/SV DB GR/LG GR/LB

NAV 5/21/08 13.09 4.75 6.35 10.93 4.26 3.77 17.22 12.25 15.04 15.25 10.56 10.71 18.44 12.84 12.92 42.51 35.67 44.37 13.19 9.79 12.71 31.00 25.70 17.68 27.04 44.09 65.50 11.56 11.23 9.48 37.88 21.57 34.11 71.89 14.54 12.59 37.96 31.94 28.22 25.11 12.93 72.43 14.77 13.10 18.49 30.63 11.92 21.74 41.11 18.37 14.73 23.58 16.37 18.80 21.55 19.18 9.39 12.06 20.47 5.17 13.42 7.91 30.42 13.22 9.64 10.80 10.22 7.64 18.89 18.94 17.01 16.88 10.07 22.58 13.42

Overall 3 4 4 3 4 4 4 ▲3 3 3 4 3 2 3 3 2 4 2 3 4 3 3 4 ▼5 3 3 ▼2 2 3 3 5 4 2 ▲2 3 5 ▲3 ▲4 4 4 4 3 3 ▼5 ▼4 3 1 2 3 3 3 1 3 3 3 4 5 3 ▲4 5 ▼2 2 3 3 1 2 2 4 3 3 5 ▲3 3 3 4

June 3, 2008

3 Mos

6 Mos 12 Mos

3 Yrs

5 Yrs

5 1 3 2 4 4 5 4 4 4 4 3 3 3 2 2 4 5 3 3 4 3 4 4 3 3 3 1 3 3 4 4 5 5 2 5 3 4 4 5 4 5 4 4 4 3 3 3 2 2 3 3 1 2 2 ▲ 3 3 1 3 3 3 2 3 2 2 3 1 4 3 3 4 3 2 3 3

-5.0 -1.7 1.1 1.8 -2.5 -2.4 -2.8 3.4 3.9 0.5 0.4 3.6 9.7 1.9 0.7 2.9 -2.8 13.3 0.2 -1.4 -1.3 4.1 3.4 -4.0 3.1 1.4 3.9 0.8 2.3 -0.2 -0.1 -2.1 19.8 24.9 -4.0 -11.8 -1.3 -2.4 0.7 5.9 3.6 -8.8 6.7 4.1 -1.0 1.6 3.5 3.9 0.9 -0.9 -5.9 4.9 0.1 1.3 0.8 2.2 -4.7 -1.9 -2.3 1.4 0.3 -1.5 -0.3 0.6 1.1 0.3 0.0 0.6 -1.2 1.9 -1.2 2.3 -1.2 2.9 1.0

-11.9 -0.6 -11.8 -9.1 -2.0 -1.2 -4.1 -12.1 -8.3 -12.0 -14.7 -8.8 0.3 -8.0 -8.9 -5.0 -22.5 4.5 -14.4 0.9 -16.3 -7.0 -15.2 -21.3 -7.7 -11.0 -11.2 -6.3 -11.1 -12.8 -15.4 -12.7 7.7 8.5 -10.7 27.1 11.3 -17.1 -16.3 -30.7 -14.6 -11.1 -14.2 -14.9 -17.4 -6.0 -10.7 -7.9 -9.7 -10.5 -13.0 -9.1 -6.4 -8.0 -9.8 -10.6 -4.6 -7.1 -17.0 -11.2 -10.6 -10.3 -9.6 -9.7 4.8 6.1 3.4 -4.4 -11.6 -9.7 -19.4 -10.7 1.1 -9.7 -10.4

31.4 0.9 8.0 9.7 1.1 1.2 2.9 13.2 13.7 14.9 9.1 11.1 17.7 9.4 6.6 13.3 8.2 28.8 10.3 2.7 10.5 7.6 10.1 4.5 10.5 8.6 15.4 7.7 10.7 6.4 7.5 6.6 26.7 32.7 3.9 -17.4 -2.1 3.7 8.3 12.5 10.1 28.0 13.2 8.8 10.1 10.6 18.1 14.0 8.5 8.7 6.0 16.3 7.2 8.7 8.0 9.4 1.2 5.2 1.6 1.0 13.5 11.2 11.2 8.3 4.9 5.0 4.2 4.2 7.2 10.3 6.6 7.8 3.0 9.0 8.2

25.1 0.8 13.8 11.2 2.3 3.2 5.7 15.8 16.3 19.2 17.5 16.3 19.8 12.9 9.4 11.4 11.9 31.7 13.8 3.0 13.8 18.0 12.8 12.9 20.1 10.5 18.5 9.5 13.7 11.5 12.1 7.4 29.9 29.8 8.3 -22.3 -6.4 11.0 12.5 15.3 10.8 20.2 13.6 10.2 11.4 13.7 20.4 18.8 10.8 11.9 15.7 19.7 9.1 11.2 10.3 13.8 2.2 8.2 10.3 4.0 18.4 12.9 18.9 10.9 4.0 3.7 3.0 6.2 11.8 16.5 10.9 14.7 3.4 9.0 10.7

▼

2 5 3 3 3 3 2 2 2 2 3 2 2 3 5 3 3 2 3 4 3 2 3 3 2 4 1 4 2 3 3 4 2 2 4 5 5 3 3 3 3 2 3 4 3 2 1 2 4 3 2 1 4 4 4 3 4 5 3 5 1 3 2 4 3 3 3 2 3 2 3 2 4 4 5

-0.6 -0.8 -3.8 -4.3 -1.4 -1.3 -2.8 -5.7 -1.9 -6.1 -6.2 -2.9 4.4 -2.7 -5.4 -1.0 -13.3 5.8 -9.2 -0.1 -11.9 -2.7 -6.0 -13.5 -2.9 -6.5 -5.3 -3.0 -5.1 -4.6 -9.3 -5.5 6.5 7.3 -8.2 12.1 5.2 -8.8 -8.8 -18.7 -8.1 -3.0 -9.1 -7.8 -9.5 -5.2 -5.4 -3.3 -5.1 -6.6 -10.7 -3.4 -3.3 -3.7 -5.2 -4.0 -3.9 -4.6 -7.9 -2.6 -6.3 -3.5 -5.0 -5.3 2.7 3.0 1.7 -2.5 -5.4 -4.0 -11.3 -2.2 0.2 -6.1 -5.8

10 Yrs

Trailing Yield

Ownership Costs

12.5 2.9 6.5 4.3 3.6 4.2 4.9 12.9 12.2 11.4 12.7 10.6 12.5 9.6 4.0 2.2 6.1 16.3 4.0 4.9 6.6 10.6 7.4 5.2 9.9 — — — — — — 8.4 12.9 7.7 3.8 — -1.0 0.8 0.6 — 3.2 7.8 — 1.6 -4.4 — 6.1 10.0 4.1 4.8 — 6.1 4.9 4.8 3.6 5.4 4.6 5.3 4.3 -0.9 9.3 1.6 13.6 4.0 5.3 5.4 4.4 4.2 4.6 7.3 4.0 7.2 5.2 0.9 3.1

6.5 0.0 0.1 1.8 2.3 2.2 4.9 0.0 2.5 2.6 0.6 0.7 1.4 1.3 1.4 0.5 0.0 0.0 0.0 0.4 0.0 0.3 0.0 0.0 0.4 0.1 1.8 3.6 3.6 1.1 0.0 0.0 0.0 0.0 0.0 5.3 4.0 0.0 2.3 0.0 0.0 0.0 0.0 0.0 0.1 2.6 2.0 0.1 1.5 0.9 0.3 2.2 2.9 2.2 1.8 1.2 1.8 2.2 0.0 0.0 0.2 0.5 0.4 4.3 4.4 3.4 3.8 5.9 2.0 0.4 0.1 0.4 4.7 0.3 1.1

$$$ $$$ $$$ $$$ $$$ $ $$$ $$ $$ $$ $$ $ $$ $$ $$ $$$ $$$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$ $$ $ $ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ $ $ $ $ $ $ $ $ $ $$ $$ $$$ $$$ $$$ $$$ $ $ $ $ $ $ $$ $$ $$ $ $ $

Annualized

5 Yr. Growth Risk Persistence YTD

10.7 -0.2 -9.5 -3.3 -1.5 -0.8 -5.7 -8.6 -6.8 -6.8 -14.2 -6.4 6.5 -5.7 -4.8 5.1 -6.4 22.2 -0.9 1.0 -4.7 -13.2 2.0 -13.4 -8.3 -2.6 -0.8 -1.0 -3.9 -12.6 -10.5 -4.5 28.9 28.1 -9.4 -9.8 9.1 -11.5 -13.1 -5.0 2.3 15.4 3.4 -2.5 -7.1 -4.4 1.0 -0.4 -4.6 -7.0 -10.3 1.3 -2.4 -3.3 -4.9 -8.8 -3.3 -5.4 -20.2 -8.4 -1.2 -2.6 -9.1 -6.1 7.3 9.1 6.1 -5.6 -11.6 -10.6 -14.4 -13.5 1.8 1.1 -4.7

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 1224 1224 1581 I 1605 825 I 140 1012 I 764 1211 1412 988 765 423 1513 1196 1225 811 I 538 1558 1426 622 825 1559 I 1225 622 539 406 110 222 623 I 1426 1406 1407 623 623 I 1605 1559 1026 1427 391 I 623 1535 1581 1581 423 141 1012 424 1225 1225 I 222 1026 I 424 737 341 I I 1427 812 142 222 624 624 I 1211

Fund Name SEI Intl Tr-Emerging Mkts Eq Tr (SIEMX) SEI Intl Tr-International Eq Tr (SEITX) SEI Intl Tr-Intl Fixd Income Trust (SEFIX) SEI S&P 500 Idx Fd E (TRQIX) SEI Tax-Exempt Tr-Intrm Term Muni A (SEIMX) Selected American Shares S (SLASX) Selected Special Shares (SLSSX) Seligman Capital Fund A (SCFIX) Seligman Common Stock Fund A (SCSFX) Seligman Common Stock Fund C (SCKCX) Seligman Communications/Info A (SLMCX) Seligman Frontier Fund A (SLFRX) Seligman Global Growth A (SHGOX) Seligman Global Smaller Co A (SHGAX) Seligman Global Tech A (SHGTX) Seligman Growth Fund A (SGRFX) Seligman High Yield Bond A (SHYBX) Seligman Income & Growth A (SINFX) Seligman International Growth A (SHIFX) Seligman Large-Cap Value A (SLVAX) Seligman Muni Series-Natl A (SNXEX) Seligman Small-Cap Value A (SSCVX) Seligman US Govt Securities A (SUSGX) Sentinel Balanced A (SEBLX) Sentinel Capital Growth Fund A (BRGRX) Sentinel Common Stock A (SENCX) Sentinel Government Securities A (SEGSX) Sentinel High Yield Bond A (SEHYX) Sentinel International Equity A (SWRLX) Sentinel Mid Cap Growth A (SNTNX) Sentinel Small Company Fd A (SAGWX) Sentinel Sustnbl Core Opps Fd (MYPVX) Sentinel Sustnbl Emerging Cos (WAEGX) Sequoia Fund (SEQUX) Sextant Growth Fund (SSGFX) Sextant International Fund (SSIFX) Sit Balanced Fund (SIBAX) Sit Developing Mkts Growth Fund (SDMGX) Sit International Growth Fund (SNGRX) Sit Large Cap Growth (SNIGX) Sit Mid Cap Growth Fund (NBNGX) Sit Small Cap Growth Fund (SSMGX) Sit Tax Free Income Fund (SNTIX) Sit US Government Fund (SNGVX) Skyline Special Equities (SKSEX) SM&R Balanced Fund T (ANTRX) SM&R Equity Income (AMNIX) SM&R Government Bond Fund T (SMRGX) SM&R Growth Fund T (AMRNX) SMAM Fixed Income Fund (SDFIX) SMAM Global Fixed Income Fund (SDGIX) SMAM Intl Fixed Income Fund Inst (SDIFX) Sound Shore Fund (SSHFX) Spectra Fund N (SPECX) SSgA Core Opportunities Fund (SSGWX) SSgA Disciplined Equity (SSMTX) SSgA Emerging Markets (SSEMX) SSgA Intnl Growth Oppty Fund (SINGX) SSgA Life Solutions Balanced (SSLBX) SSgA S&P 500 Index (SVSPX) SSgA SmallCap Fund (SVSCX) State Farm Balanced Fund (STFBX) Stonebridge Growth Fund (SBSCX) Stratton Monthly Dividend REIT Shs (STMDX) Stratton Multi-Cap Fund (STRGX) Stratton Small-Cap Value Fund (STSCX) Summit Everest Fund I (SAEVX) SunAmerica Bal Assets A (SBAAX) SunAmerica Blue Chip Growth B (SVLBX) SunAmerica Focused Growth C (SSACX) SunAmerica Focused Lrg-Cp Gr A (SSFAX) SunAmerica Growth & Income A (SEIAX) SunAmerica Growth Opports A (SGWAX) SunAmerica High Yield A (SHNAX) SunAmerica New Century A (SEGAX)

NAV 5/21/08

FO/EM 17.36 FO 13.05 IB/FO 10.80 GI/LB 38.77 MB/IT 10.75 GI/LB 46.50 SC/SB 11.22 AG/MG 25.33 GI/LB 10.55 GI/LB 10.30 TC 36.59 SC/SG 10.63 GL 10.26 GL 15.51 TC/GL 17.82 GR/LG 5.12 CH 3.08 FL 12.36 FO 15.44 GR 15.51 MB/LT 7.76 SC/SV 14.63 GS/LT 7.01 BA 17.25 GR/LB 19.82 GI/LV 33.01 GS/LT 10.61 CH 7.65 FO 20.54 GR/MG 19.71 SC/SB 7.04 GR/LV 13.73 AG/MG 17.47 GR/LB 130.37 GR 19.23 FO 16.04 BA 17.04 FO/EM 28.42 FO 18.96 GR/LG 45.44 GR/MG 15.67 SC/SG 39.17 MB/LT 9.28 GS/LT 10.82 SC/SV 18.37 BA 17.80 IN/LB 21.29 GS/LT 10.62 GR/LB 4.43 CG 19.31 IB/GL 19.16 IB/GL 18.77 GR/VL 34.74 AG 10.79 GI/LG 21.84 GR/LB 10.86 FO/EM 29.65 FO 14.60 BA 12.17 GR/LB 22.93 SC/SB 22.13 BA 58.15 GR 8.42 RE 29.66 GI/VL 45.23 SC/SV 49.63 GI/LV 56.65 BA 14.74 GR/LB 15.43 AG 24.06 GR 20.23 GR/LG 14.54 GR/GW 15.71 CH 4.33 SC/SB 18.56

Overall 2 3 4 3 ▼3 2 4 3 5 5 3 ▼5 3 3 3 3 4 4 ▼3 2 1 4 3 2 ▲2 ▲1 1 3 1 3 3 4 4 2 3 1 2 1 1 2 ▼3 3 3 1 4 3 3 2 ▼4 2 ▲1 1 3 2 4 4 2 1 3 4 5 1 5 ▲3 2 3 3 3 3 3 4 3 5 4 5

5 Yr. Growth Risk Persistence YTD 5 3 3 2 3 2 3 ▼ 4 3 3 4 4 4 4 4 3 4 2 4 2 ▼ 3 4 3 1 3 2 3 ▼ 4 3 4 3 3 4 2 3 3 1 5 3 2 4 4 3 2 3 1 2 2 2 2 3 3 2 4 3 2 5 3 1 2 4 1 3 4 3 4 2 1 3 4 4 2 4 5 4

SE-SU

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 29

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▲ ▲

▲

▲

1 1 3 4 4 3 3 3 4 4 2 3 3 2 3 3 2 5 2 2 3 3 4 3 3 3 3 2 1 3 3 3 3 3 3 1 4 1 2 3 2 2 3 3 2 5 4 3 4 2 2 2 3 2 5 4 1 2 5 4 3 3 5 3 2 2 3 5 4 3 4 3 4 2 3

-3.0 -5.0 -0.6 -5.1 0.7 -3.3 -10.9 -5.5 -7.6 -7.9 -8.7 -12.5 -9.0 -4.4 -8.3 -4.0 -0.4 -5.4 -12.9 -2.8 0.6 -12.0 2.1 -1.7 -2.9 -3.0 2.1 1.7 -3.9 -4.6 -4.9 -8.8 -7.3 -1.4 -5.6 -1.0 -2.9 -5.6 -4.1 -3.3 -5.4 -7.9 -0.7 1.9 -8.9 -4.1 -4.5 2.3 -6.6 0.4 2.7 2.3 -4.5 -10.7 -5.5 -7.0 -4.4 -1.3 -2.6 -5.2 -9.0 -0.2 -13.7 7.3 -2.0 2.0 -5.3 -4.6 -6.4 -8.2 -7.9 -4.6 -12.9 -3.1 -10.1

Annualized 3 Mos 8.5 4.3 -1.3 0.9 -1.3 1.2 -2.9 4.9 -1.4 -1.6 3.4 -1.1 2.9 4.8 3.8 6.8 2.0 -1.5 -1.7 2.1 -0.3 -0.6 0.3 1.9 5.6 3.4 0.5 3.2 4.9 7.4 1.9 -0.2 5.1 -0.8 2.3 4.8 1.1 4.7 4.3 3.4 5.9 3.3 -1.7 -0.2 -3.6 0.2 0.1 0.1 0.0 -1.4 0.0 -0.1 -0.8 0.8 1.7 -0.6 8.9 8.6 1.0 0.9 -1.7 2.4 -2.7 4.9 7.2 6.0 -0.8 -0.4 2.0 3.1 2.7 0.1 -4.4 1.3 -3.1

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-10.8 -12.3 -0.6 -9.7 1.1 -7.7 -18.0 -12.2 -17.8 -18.2 -13.4 -21.7 -13.1 -13.7 -13.8 -9.6 -4.2 -13.8 -18.6 -6.1 1.3 -19.5 4.4 -3.8 -6.1 -6.5 4.3 -0.5 -9.5 -7.0 -9.9 -11.9 -12.3 -5.0 -9.4 -5.8 -5.0 -10.6 -8.0 -6.3 -10.4 -14.8 -1.5 3.9 -15.7 -7.6 -9.3 4.8 -11.7 1.3 3.2 2.8 -9.4 -12.7 -10.7 -11.6 -13.1 -5.1 -7.6 -10.1 -19.9 -0.2 -21.2 -5.3 -3.1 -6.2 -9.7 -7.1 -9.7 -12.7 -8.8 -9.4 -21.7 -5.2 -19.1

28.6 14.7 -1.5 8.0 2.4 9.4 5.6 10.7 4.1 3.2 15.6 7.3 13.0 11.7 15.1 10.2 4.4 3.9 14.2 9.7 3.3 8.1 3.4 8.1 10.9 10.6 4.8 5.4 15.2 11.1 11.2 7.9 9.6 9.3 11.7 18.8 8.5 32.8 16.6 11.6 15.4 15.2 1.6 4.5 4.5 4.8 6.0 4.7 6.0 3.4 4.9 6.6 8.7 20.4 6.4 7.0 35.0 16.3 5.3 7.9 1.3 9.7 1.6 8.0 11.7 10.1 8.4 5.1 6.5 10.6 6.9 8.4 2.3 5.0 4.1

31.3 18.5 3.3 10.4 2.5 12.8 10.9 12.9 7.5 6.7 15.1 9.4 13.5 18.0 13.6 10.9 5.4 5.6 16.7 14.8 3.0 12.9 2.1 10.1 9.2 13.2 4.4 6.3 18.8 13.4 14.2 11.7 11.3 8.9 13.3 21.6 9.1 31.0 16.9 12.3 16.3 14.1 2.3 3.6 11.6 6.6 8.9 3.3 8.7 3.9 4.8 5.6 13.2 16.0 7.7 9.6 35.8 17.9 7.7 10.3 9.3 9.6 6.0 13.6 18.2 18.0 12.6 5.8 6.7 15.0 8.4 9.9 5.5 8.8 8.9

9.7 5.7 3.7 3.7 4.0 6.5 4.4 6.2 -0.6 — 5.8 -0.8 2.4 2.6 5.1 1.4 -0.1 1.1 -0.4 4.8 3.9 6.6 4.3 5.0 4.2 5.1 5.7 4.6 6.9 5.2 11.1 4.6 5.5 6.4 8.5 8.5 3.5 9.9 1.6 1.9 4.3 8.4 3.3 4.8 5.3 4.1 2.4 4.7 0.6 5.1 5.2 5.7 5.8 6.3 3.0 2.1 14.6 5.4 4.1 3.7 1.9 5.0 -1.7 9.8 8.4 8.9 — 1.7 0.8 6.6 — 2.3 1.2 -5.9 2.6

0.3 2.4 1.3 1.9 3.3 1.0 0.1 0.0 2.9 2.2 0.0 0.0 0.0 0.0 0.0 0.0 7.7 5.4 0.0 0.0 3.7 0.0 3.4 2.0 0.1 0.8 3.9 6.7 0.9 0.0 0.0 0.3 0.0 0.3 0.1 0.2 2.0 0.1 1.0 0.3 0.0 0.0 3.9 4.2 0.0 1.9 2.6 3.5 1.0 4.9 3.7 6.0 0.5 0.0 0.5 1.6 3.1 1.7 4.4 1.5 0.1 3.0 0.0 4.7 0.4 0.3 1.6 2.1 0.0 0.0 0.0 0.0 0.0 4.3 0.0

19.3 -5.9 1.0 -4.8 2.1 -3.1 -14.1 0.2 -14.4 -15.1 -1.0 -13.2 7.8 -9.4 -0.2 7.3 -3.9 -11.8 0.3 -1.0 2.3 -12.2 6.6 1.4 6.3 0.5 6.7 -1.1 1.5 6.2 -2.1 -7.6 -4.7 2.9 -0.2 8.3 2.6 23.7 3.7 4.3 3.9 0.9 -1.6 6.7 -21.1 -3.7 -8.0 7.8 -6.6 2.0 5.2 9.1 -4.9 6.3 -3.6 -8.6 26.3 3.7 -6.0 -5.2 -25.5 6.3 -13.9 -10.8 5.8 -5.4 -8.8 -2.4 -0.4 4.5 5.3 -3.4 -23.8 -6.7 -18.7

Ownership Costs $$ $$ $$ $ $ $ $$ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$ $$$ $$$ $$$ $$$ $$ $$ $ $$ $$ $ $$ $$ $ $$ $$ $ $ $$ $$$ $$$ $$ $$$ $ $ $ $ $$ $$ $ $$ $$ $ $ $$ $ $$$ $ $$ $ $ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

SU-TE

Page 30

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page I I 1559 424 1367 223 342 223 826 1581 1407 393 I 1123 583 989 1571 826 223 598 1513 1582 943 944 945 1162 1226 1627 766 223 624 424 1163 567 540 1535 1368 425 1369 I I 767 1536 541 542 224 1546 1407 I 1427 1606 1606 1606 1560 1560 826 625 1370 I I I I 1026 I 543 625 1211 1606 343 1164 425 1226 946 947 1582

Fund Name SunAmerica Strategic Bond B (SDIBX) SunAmerica Tax Exempt Insd A (STEAX) SunAmerica US Gov Sec A (SGTAX) SunAmerica Value A (SSVAX) T. Rowe Price Balanced Fd (RPBAX) T. Rowe Price Blue Chip Growth Fd (TRBCX) T. Rowe Price Cap Appreciation (PRWCX) T. Rowe Price Cap Opportunity (PRCOX) T. Rowe Price Dividend Growth (PRDGX) T. Rowe Price Emerging Mkts Bd (PREMX) T. Rowe Price Emerging Mkts Stk (PRMSX) T. Rowe Price Equity Income Fd (PRFDX) T. Rowe Price Equity Index 500 (PREIX) T. Rowe Price European Stk (PRESX) T. Rowe Price Financial Services (PRISX) T. Rowe Price Global Stock Fd (PRGSX) T. Rowe Price GNMA Fd (PRGMX) T. Rowe Price Growth & Inc (PRGIX) T. Rowe Price Growth Stock Fd (PRGFX) T. Rowe Price Health Sciences (PRHSX) T. Rowe Price High Yield Fd (PRHYX) T. Rowe Price Intl Bond Fd (RPIBX) T. Rowe Price Intl Discovery (PRIDX) T. Rowe Price Intl Gr & Inc Fd (TRIGX) T. Rowe Price Intl Stock Fd (PRITX) T. Rowe Price Japan Fund (PRJPX) T. Rowe Price Latin America (PRLAX) T. Rowe Price MD Tax Free (MDXBX) T. Rowe Price Media & Telecomm (PRMTX) T. Rowe Price Mid-Cap Growth Fd (RPMGX) T. Rowe Price Mid-Cap Value Fd (TRMCX) T. Rowe Price New Amer Growth (PRWAX) T. Rowe Price New Asia Fd (PRASX) T. Rowe Price New Era (PRNEX) T. Rowe Price New Horizons (PRNHX) T. Rowe Price New Income Fd (PRCIX) T. Rowe Price Personal Strategy Bal (TRPBX) T. Rowe Price Personal Strategy Gr (TRSGX) T. Rowe Price Personal Strategy Inc (PRSIX) T. Rowe Price Real Estate (TRREX) T. Rowe Price Retirement 2020 (TRRBX) T. Rowe Price Science & Tech Fd (PRSCX) T. Rowe Price Short-Term Bond (PRWBX) T. Rowe Price Small Cap Stock Fd (OTCFX) T. Rowe Price Small Cap Value Fd (PRSVX) T. Rowe Price Spectrum Growth (PRSGX) T. Rowe Price Spectrum Income (RPSIX) T. Rowe Price Spectrum Intl (PSILX) T. Rowe Price Summit GNMA (PRSUX) T. Rowe Price Tax Eff Balanced (PRTEX) T. Rowe Price Tax Free High Yld (PRFHX) T. Rowe Price Tax Free Income Fd (PRTAX) T. Rowe Price Tax Free Sh-Interm (PRFSX) T. Rowe Price US Treas Interm (PRTIX) T. Rowe Price US Treas Long (PRULX) T. Rowe Price Value Fd (TRVLX) TA IDEX Jennison Growth A (ICASX) TA IDEX Transamerica Balanced A (IBALX) TA IDEX Transamerica Conv Sec B (ICVBX) TA IDEX Transamerica Flex Inc A (IDITX) TA IDEX Transamerica Hi Yield Bd A (IHIYX) TA IDEX Transamerica Value Bal A (ITAPX) Tamarack Enterprise Fund S (TETSX) Tamarack Large Cap Growth Fund A (TLEAX) Tamarack Microcap Value Fund S (TMVSX) Tamarack Mid Cap Growth Fund I (TMCIX) Tamarack Small Cap Core Fund S (TEESX) Tamarack Tax-Free Income Fund S (TTRSX) Tamarack Value Fund S (TVASX) TCW Asia Pacific Equities I (TGAPX) TCW Select Equities I (TGCEX) Templeton Developing Markets A (TEDMX) Templeton Foreign A (TEMFX) Templeton Foreign Smaller Co A (FINEX) Templeton Global Bond A (TPINX)

Inv. Obj./Peer DB MB/IS GS/LT GR/VL BA GR/LB GI/VL GR GI/LV IB FO/EM IN/LV GI EU FS GL GM GI/LV GR/LG HL CH IB/FO FO FO FO PB/JP FO/LA MS TC GR/MG GR/MV GR PB/NJ EN SC/SG CG BA GR BA RE AA TC CG/ST SC/SB SC/SV GR DB FO GM BA MB/HY MB/LT MB/IT GS/IT GS/LT GI/VL GR BA CV CH CH BA SC/SV IN SC/SV GR/MB SC/SV MB/LT GI/VL PB/NJ GR/LG FO/EM FO FO IB/GL

NAV 5/21/08 3.54 12.50 9.49 14.59 20.08 37.62 20.13 15.62 24.20 13.08 41.33 25.99 37.38 19.10 15.27 24.79 9.54 21.29 31.84 26.18 6.58 10.57 45.97 17.18 16.49 10.30 60.56 10.35 44.91 56.58 22.30 31.48 17.10 70.73 28.95 9.11 18.73 23.53 15.46 20.41 17.31 23.19 4.75 28.87 36.31 20.13 12.07 14.25 9.74 14.49 11.27 9.83 5.40 5.66 12.03 25.05 11.66 22.97 10.79 8.75 8.76 12.65 17.82 11.41 17.99 12.17 22.29 8.47 25.85 14.57 18.18 29.14 11.81 19.02 11.79

Overall 3 4 3 3 2 3 2 3 3 3 1 3 4 ▲1 5 1 2 3 3 ▼2 4 3 2 2 1 ▲3 1 2 2 2 2 3 2 1 4 ▲3 2 2 2 ▲3 2 4 3 4 3 2 2 1 1 3 ▼4 3 3 3 3 3 3 3 3 4 3 3 4 4 4 3 4 3 3 ▼3 4 2 1 4 2

June 3, 2008

3 Mos

6 Mos 12 Mos

3 Yrs

5 Yrs

3 3 3 4 1 3 1 2 2 5 5 2 2 3 3 ▼ 4 2 2 3 3 4 5 4 3 3 4 5 3 4 3 2 3 5 5 4 3 1 2 1 5 2 ▼ 5 1 3 3 3 2 3 2 1 3 3 2 4 5 2 3 2 3 3 4 2 3 3 3 3 ▲ 3 3 2 5 4 5 3 4 4

0.4 -0.7 -0.5 -1.8 2.0 2.1 2.1 2.3 1.0 -0.3 8.9 -0.4 0.9 6.4 -4.2 5.8 -0.6 2.3 3.1 -2.9 0.6 1.6 2.6 4.9 6.6 2.4 13.2 -1.0 5.6 4.9 0.6 6.7 -1.0 17.3 1.5 -0.2 1.5 1.9 1.3 8.1 2.1 10.0 -0.6 0.3 3.6 2.5 -0.2 5.7 -0.3 -0.5 -3.1 -1.8 -1.3 -0.9 -1.5 0.6 3.0 1.2 2.7 -1.2 2.3 0.9 -4.2 1.9 -2.0 0.2 1.1 -0.7 0.8 4.5 4.0 8.4 4.6 8.6 1.9

-1.2 0.2 3.8 6.1 -5.0 -11.3 -3.1 -9.1 -7.5 -1.1 -10.2 -8.9 -9.8 -8.5 -17.3 -5.6 1.4 -8.2 -10.7 -8.3 -4.9 5.1 -14.6 -11.2 -8.2 -8.8 -0.8 0.3 -13.1 -8.2 -7.5 -7.2 -22.4 6.8 -12.4 2.2 -6.0 -8.9 -3.1 -8.9 -7.3 -11.9 0.8 -13.8 -8.0 -10.3 -1.1 -9.6 3.2 -5.9 -4.5 -1.1 0.7 5.4 4.7 -10.4 -10.1 -8.8 -10.3 -2.0 -0.9 -9.2 -20.4 -10.4 -15.8 -10.4 -15.7 1.2 -9.7 -22.2 -9.2 -15.6 -8.1 -15.4 4.1

3.7 1.4 3.1 13.0 8.5 9.5 9.2 8.7 8.9 10.2 35.3 8.0 7.9 17.2 3.1 23.1 3.7 7.8 10.3 14.0 4.6 4.1 20.6 16.2 16.3 7.3 54.9 2.7 21.9 13.5 10.2 10.2 32.7 30.7 8.8 2.9 8.6 9.5 7.6 11.8 9.6 9.5 2.6 7.1 10.5 11.2 4.7 18.0 4.4 2.7 1.3 2.1 2.0 4.6 4.0 8.2 8.8 8.1 11.5 2.3 5.8 7.3 3.6 4.7 5.8 8.7 7.0 2.4 5.7 27.2 5.9 25.2 14.7 7.2 9.3

6.4 2.2 2.8 14.7 10.2 10.1 12.5 11.2 10.9 11.8 36.8 11.6 10.3 19.4 8.2 20.7 3.4 10.2 11.2 14.7 6.6 6.9 27.8 21.1 18.0 16.7 48.9 3.2 25.3 16.4 16.1 11.6 35.2 31.8 14.4 3.3 10.9 12.6 8.9 19.2 11.8 10.5 2.5 11.6 15.5 14.3 6.2 20.7 3.5 3.8 3.6 3.1 1.8 3.2 4.3 12.8 11.8 7.9 10.6 2.6 6.5 9.0 10.7 6.5 15.2 10.4 12.1 2.6 10.5 28.0 9.2 29.0 18.2 15.9 10.5

▼

▲

▲

2 4 4 3 3 3 3 3 3 1 1 3 4 1 3 1 3 4 3 3 2 2 1 1 1 3 1 1 1 2 2 3 1 1 3 4 3 3 4 2 3 3 4 3 2 2 1 1 3 5 2 2 4 3 2 3 3 4 3 3 1 4 3 5 2 3 3 3 3 2 4 1 1 2 1

0.1 -0.5 1.2 -5.6 -2.4 -7.1 -0.2 -3.9 -4.0 -0.4 -5.0 -4.5 -5.1 -4.4 -8.3 -2.3 0.2 -4.5 -6.5 -7.8 -2.5 4.9 -7.3 -5.2 -3.0 -2.7 5.4 0.3 -7.4 -4.1 -2.5 -2.0 -17.4 6.1 -6.6 1.1 -2.9 -4.5 -1.3 8.1 -3.4 -2.9 0.4 -6.4 -1.4 -5.4 -0.4 -4.5 1.1 -3.8 -2.5 -0.9 0.4 2.2 1.0 -4.0 -6.1 -6.3 -4.3 -1.5 0.7 -4.7 -13.1 -7.2 -7.2 -6.2 -6.8 0.8 -4.5 -10.7 -6.9 -8.0 -5.4 -5.0 5.0

10 Yrs

Trailing Yield

Ownership Costs

5.1 3.6 4.9 7.8 5.9 3.9 10.3 2.7 4.3 9.4 15.0 6.4 3.6 6.6 6.3 8.3 5.1 3.6 5.5 10.1 5.2 5.6 15.8 — 5.1 5.1 19.7 4.6 13.7 9.5 10.3 2.0 16.1 15.3 6.3 4.8 6.5 6.6 6.2 12.7 — 0.0 4.3 6.7 9.6 6.3 5.8 7.5 5.1 3.7 3.8 4.4 3.4 5.3 6.1 6.5 1.9 6.3 — 4.4 5.1 3.9 6.7 0.7 8.8 7.2 6.1 4.1 3.4 14.7 4.9 11.0 8.1 6.8 8.5

3.6 1.5 3.1 2.0 2.7 0.4 2.5 0.9 1.4 7.9 0.7 2.2 1.7 1.5 2.2 0.3 2.0 1.1 0.6 0.0 4.0 0.0 0.7 2.0 1.7 0.0 0.7 4.2 0.6 0.1 2.3 0.0 1.0 0.8 0.0 0.4 2.2 1.5 3.0 3.7 2.0 0.0 0.0 0.0 0.7 1.1 0.0 1.3 4.1 0.3 0.9 0.8 0.6 1.7 1.9 1.7 0.0 0.7 0.2 4.7 6.1 1.7 0.4 0.0 0.4 0.0 0.2 2.5 2.0 0.5 0.0 1.8 1.5 1.4 6.0

$$$ $$$ $$$ $$$ $ $ $ $ $ $ $$ $ $ $ $ $ $ $ $ $ $ $ $$ $ $ $$ $$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $ $ $ $ $ $ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$ $$ $$ $ $$ $ $ $$$ $$$ $$$ $$

Annualized

5 Yr. Growth Risk Persistence YTD

0.4 0.2 6.3 10.4 -0.2 -1.0 -0.7 -3.3 -2.7 0.4 28.5 -6.9 -5.0 -0.3 -20.9 9.7 3.6 -3.2 -2.9 0.3 -5.1 9.8 -2.2 -4.8 3.6 -6.4 43.1 0.8 3.5 3.3 -8.2 5.1 27.5 33.8 -6.2 2.0 -0.9 -3.2 1.3 -15.1 -2.3 1.6 0.8 -11.8 -7.0 -3.3 -0.8 3.2 5.9 -3.7 -7.3 -2.0 1.5 8.7 7.8 -9.2 0.9 0.9 7.9 -3.2 -1.0 -5.0 -20.0 -0.9 -17.9 -2.1 -14.8 2.3 -4.7 22.3 0.3 11.1 4.4 -7.5 11.4

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 990 991 992 993 625 I 768 1165 1407 738 1027 224 1408 194 1607 1226 1427 1536 I 1607 1560 195 1408 1124 994 1226 1428 1536 I 1513 1536 224 1012 425 425 1607 I 625 I 1227 I 826 1027 626 544 1012 I 224 I 1571 1212 426 1212 426 995 996 I 997 1227 1582 1227 426 626 1212 I 1328 1013 812 948 1027 1013 626 1125 I 1166

Fund Name

Templeton Global Opport Trust A (TEGOX) Templeton Global Smaller Cos A (TEMGX) Templeton Growth A (TEPLX) Templeton World A (TEMWX) The Boston Co Large Cap Core Fd (SDEQX) The Boston Co Sm/Mid-Cap Growth (SDSCX) The Information Age Fd (RSIFX) The Japan Fund S (SJPNX) Third Avenue International Value (TAVIX) Third Avenue Real Estate Value (TAREX) Third Avenue Sm Cap Value Fund (TASCX) Third Avenue Value Fund (TAVFX) Thomas White International (TWWDX) Thompson Plumb Growth (THPGX) Thornburg Interm Muni-Natl A (THIMX) Thornburg International Value A (TGVAX) Thornburg Investment Inc Builder A (TIBAX) Thornburg Ltd Term Income Fd A (THIFX) Thornburg Ltd Term Muni-CA A (LTCAX) Thornburg Ltd Term Muni-Natl A (LTMFX) Thornburg Ltd Term US Govt Fd A (LTUSX) Thornburg Value Fund A (TVAFX) Threadneedle Emerg Mkts A (IDEAX) Threadneedle European Equity A (AXEAX) Threadneedle Global Equity A (IGLGX) Threadneedle International Opp A (INIFX) Thrivent Balanced Fund A (AABFX) Thrivent Core Bond Fund A (AAINX) Thrivent Diversified Inc Plus A (AAHYX) Thrivent High Yield Fund A (LBHYX) Thrivent Income Fund A (LUBIX) Thrivent Large Cap Stock Fund A (AALGX) Thrivent Large Cap Value Fund A (AAUTX) Thrivent Mid Cap Growth A (LBMGX) Thrivent Mid Cap Stock Fund A (AASCX) Thrivent Municipal Bond Fund A (AAMBX) Thrivent Partner Intl Stock A (AAITX) Tocqueville Fund (TOCQX) Tocqueville Gold Fund (TGLDX) Tocqueville Intl Value Fund (TIVFX) Tocqueville Small Cap Value Fund (TSCVX) Torray Fund (TORYX) Touchstone Diversfd Sm Cap Val Z (TCSVX) Touchstone Growth Opps A (TGVFX) Touchstone MidCap Growth A (TEGAX) Touchstone Value Opps Z (CCEVX) Transamerica Premier Balanced Inv (TBAIX) Transamerica Premier Equity Inv (TEQUX) Transamerica Premier Focus Fund Inv (TPAGX) Trust for Credit Uns-Sh Dur (TCUDX) Turner Emerging Growth Fund (TMCGX) Turner Mid Cap Growth Fd (TMGFX) Turner Small Cap Growth Fund (TSCEX) Tweedy Browne American Value (TWEBX) Tweedy Browne Global Value (TBGVX) UBS Global Allocation Y (BPGLX) UBS Global Bond Y (BPGBX) UBS Global Equity Y (BPGEX) UBS International Equity Y (BNUEX) UBS PACE Global Fixed Income P (PCGLX) UBS PACE International Equity P (PCIEX) UBS PACE Large Company Gr Equity P (PCLCX) UBS PACE Small/Med Co Gr Eq P (PCSGX) UBS PACE Small/Medium Comp Value P (PCSVX) UBS U.S. Lge Cap Value Equity C (BNVCX) UBS US Allocation C (KPAAX) UBS US Large Cap Equity (BPEQX) UBS US Large Cap Growth Fund A (BNLGX) UMB Scout International Fund (UMBWX) UMB Scout Small Cap Fund (UMBHX) UMB Scout Stock Fund (UMBSX) US Global Accolade Holmes Growth (ACBGX) US Global East European (EUROX) US Global Inv All American Equity (GBTFX) US Global Inv China Region Opport (USCOX)

GL GL GL GL GR/LV SC/SB TC PB/JP FO RE SC/SV GR/SV FO GR MB/IT FO BA CG/IT MC/IT MB/IT GS/IT GR/VL FO/EM EU GL FO BA CG/IT CH CH CG GR/LB GI/LB GR/MG GR/MG MB/LT FO GR/VL PM FO SC/SV GI/LB SC GR/LG SC/SB GI/MV BA GR AG/LG GM SC GR/MG SC/SG GR/VL GL GL IB/GL GL FO IB FO GR/LG GR/SG SC/SV IN AA GI/LB GR FO SC GI/LB GR/GW EU GI/LB PB/NJ

NAV 5/21/08 22.41 7.89 22.36 17.74 36.57 13.80 15.71 12.01 19.25 27.10 24.79 56.20 21.16 35.26 13.14 31.56 21.21 12.52 12.82 13.61 13.29 34.74 10.76 6.21 8.46 10.79 12.05 9.56 6.37 4.82 8.29 25.08 15.49 15.41 13.78 11.15 13.01 24.29 50.93 13.23 13.12 34.23 13.65 23.87 23.35 16.52 25.83 23.74 21.27 9.52 52.64 34.29 30.16 21.33 27.83 13.78 10.50 15.11 11.10 12.22 18.23 18.28 14.32 15.35 9.11 29.89 18.33 11.69 37.79 16.48 13.49 23.30 48.86 27.56 10.32

Overall 1 3 3 3 3 1 4 ▲3 2 3 3 3 1 5 2 1 1 2 ▼3 2 2 3 ▼2 1 2 1 3 4 4 3 3 3 2 3 3 1 1 1 3 2 5 4 3 3 2 1 3 ▼3 3 ▼3 ▼3 3 ▼4 3 2 2 3 ▲2 1 ▲2 2 4 4 4 3 3 3 2 1 3 2 2 2 3 3

5 Yr. Growth Risk Persistence YTD 3 4 3 3 2 3 5 4 ▲ 2 ▼ 4 3 3 4 3 2 3 2 2 2 2 2 3 5 3 3 3 1 2 4 ▼ 4 2 2 2 4 4 3 3 3 5 3 3 2 3 3 3 2 ▲ 2 3 4 1 4 4 ▲ 4 1 ▲ 2 1 3 2 3 5 3 3 4 3 2 1 2 3 3 4 2 4 5 4 5

TE-US

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 31

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▲

▲

1 2 2 3 3 2 3 3 2 2 3 2 1 5 3 1 2 3 4 4 3 3 1 2 1 1 5 4 1 1 3 4 3 3 2 1 1 2 2 2 4 5 3 3 2 2 4 2 3 3 2 3 3 5 2 3 3 3 1 2 1 4 3 3 3 5 3 3 1 3 4 2 1 3 2

-5.7 -6.6 -7.8 -6.5 -5.1 -4.8 -13.5 -0.3 2.6 -2.1 1.5 -7.2 -3.6 -8.2 -0.6 -5.8 -6.6 0.7 0.1 0.0 0.8 -8.6 -4.2 -5.9 -5.2 -3.2 -3.5 -0.1 -0.5 1.3 -0.1 -5.3 -3.4 -6.8 -6.9 0.5 -3.8 -5.3 -3.9 -3.3 -10.6 -7.0 -0.8 -3.4 -0.9 -1.1 -5.9 -7.4 -10.4 -0.5 -8.1 -7.5 -9.2 -1.1 -7.1 -2.4 0.0 -2.9 -5.2 7.0 -5.6 -7.6 -11.1 -5.5 -5.9 -4.3 -5.5 0.4 -1.5 -9.6 -5.8 -7.9 -10.7 -7.6 -18.1

Annualized 3 Mos 1.8 5.4 -0.1 2.0 2.0 2.9 2.8 6.4 5.6 -1.1 4.9 -1.2 6.4 -2.3 -1.7 5.0 1.1 -0.3 -1.2 -1.3 -0.8 -1.5 7.0 2.5 2.6 4.4 0.9 -1.0 0.7 3.0 -1.4 1.2 1.0 3.4 -1.8 -1.0 4.1 0.1 -8.8 2.9 -2.5 -2.4 4.0 4.3 5.9 4.2 1.3 1.5 -0.4 -1.6 1.6 4.1 2.3 1.0 1.3 0.2 -1.8 3.5 2.7 3.4 3.9 2.2 0.7 -1.0 -1.7 -1.2 -1.0 7.2 6.1 1.1 2.1 2.8 4.8 3.0 -3.1

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-10.8 -17.5 -13.7 -11.1 -9.6 -8.1 -23.4 -6.8 -7.0 -12.4 -3.9 -14.3 -9.0 -15.7 0.0 -10.4 -11.0 2.5 0.7 1.0 2.8 -15.0 -11.9 -8.9 -11.9 -8.7 -6.0 0.5 -3.7 -0.2 0.1 -9.2 -8.2 -11.7 -12.3 1.3 -10.0 -8.9 -13.7 -8.9 -17.3 -11.2 -8.2 -6.5 -5.0 -4.2 -8.3 -11.5 -16.0 0.2 -10.8 -9.6 -13.7 -6.6 -11.1 -6.4 -0.2 -9.5 -10.3 8.3 -12.3 -11.4 -15.8 -13.3 -12.7 -9.0 -12.3 -3.8 -4.7 -13.1 -7.5 -10.3 -9.7 -10.4 -31.0

17.8 8.8 7.4 8.7 9.3 15.9 12.6 8.0 12.1 9.3 9.6 8.3 23.7 0.9 2.3 22.2 12.1 3.6 2.4 2.3 3.8 10.8 33.7 17.8 15.9 16.8 7.5 2.8 5.6 6.3 3.1 7.5 9.2 12.5 15.9 3.1 14.5 12.0 29.8 11.8 3.8 4.7 8.2 9.9 14.2 11.5 9.1 12.6 12.5 3.2 14.3 14.0 12.9 6.1 10.8 8.2 1.2 9.6 12.9 6.0 16.5 8.3 8.4 3.1 6.8 5.2 7.1 15.4 19.6 8.6 9.9 14.7 33.1 14.9 26.9

20.4 19.0 13.3 14.3 11.4 19.2 14.5 17.6 22.4 17.5 16.2 17.4 25.3 5.0 2.7 23.8 14.8 3.2 2.0 2.1 2.7 11.6 33.6 18.2 16.6 18.2 7.1 3.0 6.9 7.9 3.5 8.3 12.5 13.2 17.7 3.6 17.3 16.8 26.1 21.4 8.0 6.4 15.1 11.4 16.4 16.9 10.5 13.4 14.4 2.5 19.8 16.1 15.5 8.3 16.2 11.7 4.0 13.0 16.8 7.1 20.3 9.6 10.8 10.9 10.8 8.9 11.0 14.4 20.7 14.3 10.3 15.3 38.2 13.6 31.4

7.4 5.7 7.2 6.2 4.4 7.4 6.4 8.8 — — 9.5 10.0 9.7 5.6 3.7 — — 4.9 3.2 3.5 4.7 6.8 12.2 — 3.7 3.0 4.6 4.7 3.1 2.4 4.7 3.5 4.3 6.5 7.9 4.5 4.0 6.8 — 8.4 6.4 3.4 9.7 5.6 12.1 8.5 7.6 4.9 7.4 4.4 23.8 9.5 6.0 4.2 8.9 7.0 4.7 5.2 5.3 5.9 5.9 0.9 7.4 4.6 — 3.0 4.4 — 9.3 8.6 3.3 6.9 20.3 2.2 10.5

0.9 1.1 1.5 1.6 1.3 0.1 0.0 0.0 3.5 2.0 0.9 2.9 1.5 1.0 2.2 0.6 1.6 3.4 1.9 2.0 1.9 0.4 1.3 0.8 0.4 0.7 1.7 4.5 4.6 7.4 4.8 0.8 1.1 0.0 0.1 4.2 1.6 0.7 0.8 0.7 0.8 0.4 0.0 0.0 0.0 0.9 1.4 0.0 0.0 2.4 0.4 0.0 0.0 0.8 1.5 1.8 3.9 0.0 1.8 7.8 1.6 0.2 0.0 0.2 0.4 1.9 1.1 0.0 1.2 0.0 1.0 0.0 0.0 0.0 1.8

2.8 -15.5 -11.9 -3.6 -2.8 4.9 -0.2 -0.5 1.2 -15.4 -3.0 -8.0 4.7 -16.0 0.8 10.4 0.5 4.7 2.3 2.6 5.5 -7.7 24.6 -0.6 1.6 2.2 -0.8 1.3 -4.4 -0.2 0.7 -2.3 -4.5 2.3 -10.3 2.4 -1.4 -0.5 4.3 -5.1 -16.3 -12.7 -9.0 8.7 3.0 2.7 1.9 3.5 4.0 2.3 0.3 6.9 -2.7 -6.0 -9.0 -1.7 1.5 -3.4 -2.9 15.4 -2.6 -0.1 -5.3 -14.3 -11.0 -6.9 -9.6 13.1 6.3 -4.7 1.1 9.9 11.8 9.2 21.2

Ownership Costs $$$ $$$ $$$ $$$ $ $ $$$ $$ $$ $$ $$ $$ $$ $$ $$ $$$ $$$ $$ $$ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$ $$ $$$ $$$ $$$ $$$ $$ $$$ $$ $$ $$ $$ $ $$ $$$ $$$ $$ $$ $$ $$ $ $$ $$ $$ $$ $$ $ $ $ $$ $$ $$ $ $$ $$ $$ $$ $ $$$ $ $$ $ $$ $$ $$ $$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

US-VA

Page 32

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page I I I I 203 1371 1588 426 1197 I 225 I 1571 827 1428 427 I 1537 394 I 1227 427 I 721 I 769 I 1027 1607 1608 1608 626 I 1412 812 I I 143 1212 I 344 1537 1408 225 395 998 1412 1412 1560 345 1397 1514 1608 1608 627 1609 1628 225 739 1609 144 770 1572 799 I I 346 1329 1372 1588 196 1398 I 1228 568

Fund Name US Global Inv Global Resources (PSPFX) US Global Inv Gold Shares (USERX) US Global Inv World Prec Minerals (UNWPX) US Global MegaTrends (MEGAX) USAA Aggressive Growth Fund (USAUX) USAA Balanced Strategy (USBSX) USAA California Bond (USCBX) USAA Capital Growth Fund (USCGX) USAA Cornerstone Strategy Fund (USCRX) USAA Emerging Markets (USEMX) USAA First Start Growth Fund (UFSGX) USAA Florida Tax-Free Income (UFLTX) USAA GNMA Trust (USGNX) USAA Growth & Income Fund (USGRX) USAA Growth & Tax Strategy (USBLX) USAA Growth Fund (USAAX) USAA High-Yield Opportunities Fund (USHYX) USAA Income Fund (USAIX) USAA Income Stock Fund (USISX) USAA Intermediate-Term Bond Fund (USIBX) USAA International Fund (USIFX) USAA NASDAQ-100 Index Fund (USNQX) USAA New York Bond Fund (USNYX) USAA Precious Metals and Minerals (USAGX) USAA S&P 500 Index Members (USSPX) USAA Science & Technology Fund (USSCX) USAA Short-Term Bond (USSBX) USAA Small Cap Stock Fund (USCAX) USAA T/E Short Term Bond Fund (USSTX) USAA Tax-Exempt Interm-Term (USATX) USAA Tax-Exempt Long Term Fund (USTEX) USAA Value Fund (UVALX) USAA Virginia Bond (USVAX) USAA World Growth Fund (USAWX) Valley Forge Fund (VAFGX) Van Eck Global Hard Assets A (GHAAX) Van Eck Intl Investors Gold A (INIVX) Van Kampen Aggressive Growth A (VAGAX) Van Kampen American Value A (MSAVX) Van Kampen CA Insured Tax Free A (VKCIX) Van Kampen Comstock A (ACSTX) Van Kampen Corporate Bond A (ACCBX) Van Kampen Emerging Markets A (MSRAX) Van Kampen Enterprise A (ACENX) Van Kampen Equity & Income A (ACEIX) Van Kampen Global Eqty Allocatn A (MSGAX) Van Kampen Global Franchise A (VGFAX) Van Kampen Global Value Equity A (MGEAX) Van Kampen Govt Secs A (ACGVX) Van Kampen Growth and Income A (ACGIX) Van Kampen Harbor A (ACHBX) Van Kampen High Yield A (ACHYX) Van Kampen High Yield Muni A (ACTHX) Van Kampen Insured Tax Free A (VKMTX) Van Kampen Mid Cap Growth A (VGRAX) Van Kampen Muni Income A (VKMMX) Van Kampen PA Tax Free Inc A (VKMPX) Van Kampen Pace A (ACPAX) Van Kampen Real Estate Sec B (ACRBX) Van Kampen Strat Muni Inc A (VKMHX) Van Kampen Strategic Growth A (ACEGX) Van Kampen Technology A (VTFAX) Van Kampen US Mtg Sec A (VKMGX) Van Kampen Utility A (VKUAX) Van Wagoner Emerging Growth Fund (VWEGX) Van Wagoner Small-Cap Growth Fund (VWMCX) Vanguard 500 Index Inv (VFINX) Vanguard Asset Allocation Inv (VAAPX) Vanguard Balanced Index Inv (VBINX) Vanguard CA Long-Term T-E Inv (VCITX) Vanguard Capital Opportunity Inv (VHCOX) Vanguard Convertible Securities (VCVSX) Vanguard Dividend Growth Fd (VDIGX) Vanguard Emerging Mkts Stk Idx Fd (VEIEX) Vanguard Energy Inv (VGENX)

Inv. Obj./Peer

NAV 5/21/08

EN 20.22 PM 17.69 PM 26.85 FL 12.23 AG/GW 34.77 BA 13.96 MC/LT 10.62 GR/SG 8.72 BA 24.10 FO/EM 24.49 GR 10.22 MS 9.76 GM 9.75 GI/LB 16.22 BA 13.80 GR/LG 16.53 CH 8.16 CG 12.20 GI 14.00 DB 9.67 FO 27.41 GR 6.05 MY/LT 11.60 PM 37.36 GI 20.88 TC 12.17 CG/ST 8.91 SC 12.49 MB/ST 10.60 MB/IT 12.85 MB/LT 13.30 GR/VL 13.76 MS 11.16 GL 19.94 GR 9.23 PM 58.75 PM 19.65 AG/MG 19.03 SC/SV 26.74 MC/IS 17.52 GI/LV 16.07 CG 6.40 FO/EM 24.95 GR/LG 14.83 IN/LV 8.44 GL 19.66 GL 25.14 GL 12.46 GS/LT 9.79 GI/LB 20.06 CV 15.98 CH 10.15 MB/HY 10.23 MB/IS 16.92 GR 27.82 MB/LT 13.77 MS 16.11 GR/LB 13.02 RE 19.82 MB/HY 12.09 AG 48.49 TC 5.45 GM 12.91 UT 25.01 AG 3.48 SC/SG 7.17 GI/LB 128.36 AA 28.64 BA 21.56 MC/LT 11.34 GR/MG 36.32 CV 13.66 GI 14.93 FO/EM 32.75 EN 94.73

Overall 2 2 ▼3 1 3 3 4 2 ▲2 1 3 4 2 4 3 3 3 ▲1 4 ▼4 1 4 4 2 3 ▼4 2 4 2 3 4 3 4 1 3 1 2 3 2 5 3 3 2 4 3 1 1 3 3 3 2 3 3 5 ▼3 4 4 3 3 4 3 4 3 2 5 5 3 3 ▲2 3 2 1 ▲1 ▼2 1

June 3, 2008

3 Mos

6 Mos 12 Mos

3 Yrs

5 Yrs

5 5 5 3 3 1 4 ▲ 3 2 5 2 4 2 3 1 4 3 3 3 2 3 4 4 5 2 4 1 3 1 3 4 2 4 2 2 5 5 4 3 5 2 3 5 3 1 3 2 2 ▲ 2 2 1 3 4 ▲ 4 4 4 4 4 5 4 4 4 2 3 5 5 2 2 1 4 3 2 2 5 5

8.9 -10.8 -13.0 5.8 0.5 -0.5 -1.0 3.5 0.8 7.8 -0.5 -2.0 0.4 0.5 -0.2 3.8 0.7 0.2 -1.5 -1.9 6.8 4.0 -1.2 -6.7 1.0 2.6 -1.0 -0.3 -0.3 -1.4 -1.7 -3.2 -1.6 4.8 1.4 14.5 -9.0 3.3 0.4 -1.1 -2.3 -2.1 6.7 1.2 -0.6 3.6 1.5 1.7 -3.7 0.6 1.0 0.9 -2.6 -2.3 3.0 -2.6 -2.1 5.0 8.3 -3.2 4.8 3.7 -2.4 2.8 -1.2 -1.3 1.0 1.0 0.8 -0.8 2.2 0.7 3.0 8.8 17.9

-2.6 0.1 -17.3 -2.1 -13.2 -7.3 -0.9 -12.3 -8.6 -7.7 -8.7 -1.0 4.2 -11.1 -5.8 -10.9 -4.1 2.9 -11.2 -1.1 -5.4 -14.4 -0.5 -6.1 -9.8 -14.0 1.2 -14.6 1.8 -0.3 -1.3 -11.7 -0.6 -5.4 -5.4 8.3 -9.5 -10.2 -8.9 -0.8 -12.1 0.4 -14.7 -12.5 -6.9 -10.5 -7.1 -10.7 -0.5 -9.2 -5.9 -0.9 -3.2 -3.3 -11.7 -2.4 -2.8 -9.7 -8.6 -4.7 -10.1 -16.4 -0.1 -5.0 -32.7 -33.4 -9.7 -8.4 -4.4 0.0 -11.4 -4.7 -4.9 -11.3 7.3

32.7 44.7 37.4 13.9 8.0 4.8 2.0 16.3 7.8 29.9 4.2 2.1 4.4 7.7 6.1 8.6 5.1 4.2 6.2 2.7 16.6 10.7 2.2 43.6 8.0 11.6 3.7 7.3 2.9 2.5 2.0 6.2 2.0 13.7 7.2 40.0 42.0 12.3 12.5 -0.7 4.6 3.6 34.0 7.6 6.7 14.3 10.7 9.0 2.5 7.8 8.1 5.5 3.0 0.5 16.7 1.5 1.2 15.2 12.7 1.7 9.9 8.3 2.7 14.6 -7.8 -6.6 8.4 8.6 7.4 2.7 13.4 12.7 10.1 32.6 31.8

45.1 35.5 36.5 16.1 10.6 7.1 3.0 18.7 10.6 32.1 8.0 3.2 3.7 10.7 7.0 9.7 7.5 4.2 10.0 3.3 19.0 11.4 3.2 34.5 10.3 12.7 3.4 11.1 2.5 3.2 3.8 12.3 2.9 16.2 8.1 38.7 31.2 14.5 16.6 0.4 10.8 4.2 35.7 8.1 9.8 15.5 15.3 13.5 2.4 12.2 8.5 8.2 5.0 1.9 17.3 2.6 2.4 11.7 19.8 3.8 9.7 11.8 2.9 17.0 -5.5 -5.4 10.7 10.6 8.8 3.4 17.8 11.6 13.1 34.8 35.0

▼

1 2 2 3 3 5 3 2 4 1 4 2 3 4 5 3 1 3 3 3 1 3 2 2 4 3 3 3 3 2 2 3 3 2 5 1 2 3 1 5 3 2 1 4 4 2 2 3 4 3 4 2 2 3 2 3 3 3 2 2 4 3 4 2 5 5 4 3 4 2 2 3 3 1 1

1.0 7.9 -8.7 -3.1 -8.1 -3.5 -0.3 -5.2 -4.1 -1.8 -5.3 -0.6 2.1 -6.5 -2.8 -9.0 -1.6 1.8 -5.3 -1.5 -0.9 -8.1 -0.1 1.6 -5.1 -7.6 -0.2 -6.8 1.1 0.0 -0.6 -6.7 -0.4 -2.4 -1.0 8.0 -1.2 -4.3 -4.6 -0.8 -5.8 -0.7 -6.7 -7.3 -3.8 -4.5 -4.8 -6.7 -1.9 -5.0 -2.4 0.1 -1.7 -2.2 -5.3 -1.2 -1.7 -4.0 8.5 -2.2 -4.1 -9.4 -1.0 -4.3 -21.7 -21.9 -5.1 -5.0 -2.2 -0.3 -4.6 -1.1 -2.6 -3.2 5.8

10 Yrs

Trailing Yield

Ownership Costs

19.7 14.0 13.1 5.3 2.7 5.2 4.4 — 4.5 10.4 -1.3 4.5 4.9 3.5 3.4 -0.4 — 5.5 3.9 — 6.8 — 4.6 20.6 3.7 1.0 3.8 — 3.6 4.3 4.7 — 4.4 5.2 5.0 15.5 14.6 6.7 6.4 3.1 6.9 4.7 13.0 -0.1 7.4 5.3 — 4.5 4.5 7.2 5.5 2.8 4.5 3.8 8.1 3.5 3.5 1.8 11.7 3.5 4.7 — 4.5 8.0 -10.7 -3.6 3.9 5.6 5.2 4.9 15.5 7.4 4.3 14.1 18.6

4.8 19.5 11.9 0.0 0.3 2.5 2.8 0.5 1.6 1.0 1.7 3.1 3.2 0.4 2.9 0.0 7.4 5.1 2.0 4.4 1.4 0.0 3.3 1.7 1.9 0.0 3.5 0.1 3.2 3.3 3.7 1.2 3.4 0.8 4.9 0.0 7.8 0.0 0.4 3.6 2.0 4.3 0.0 0.2 2.4 1.4 0.7 1.5 4.0 1.9 3.0 5.8 4.4 3.8 0.0 4.3 3.9 0.0 1.0 4.5 0.0 0.0 5.3 1.4 0.0 0.0 2.0 2.4 2.9 4.3 0.6 3.8 1.9 1.8 1.3

$ $$ $ $$$ $$ $ $ $$ $$ $$ $$ $ $ $ $ $ $ $ $ $ $$ $ $ $$ $ $$ $ $$ $ $ $ $$ $ $$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$ $$$ $$$ $$$ $$$ $$$ $$$ $ $ $ $ $ $ $ $ $

Annualized

5 Yr. Growth Risk Persistence YTD

28.4 31.5 7.5 15.0 2.1 -4.0 -2.3 -0.1 -2.9 24.2 -5.5 -1.4 5.4 -3.7 -3.2 4.1 -4.2 5.0 -11.9 -0.4 0.7 2.4 -0.7 25.6 -4.9 -1.6 3.1 -14.1 3.0 0.0 -1.7 -11.0 -1.1 0.4 -3.0 36.0 22.8 4.9 -3.3 -2.5 -12.4 1.5 23.3 -3.1 -4.9 3.3 -3.3 -6.8 1.8 -7.7 0.1 -0.3 -5.0 -5.8 7.5 -3.7 -4.3 9.3 -14.1 -7.9 6.4 -0.2 2.0 -0.5 -28.6 -30.0 -4.8 -3.3 -0.2 -0.2 2.6 4.1 -0.4 26.2 34.2

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 396 1126 545 225 1628 999 1572 827 427 226 599 1514 1609 1609 347 1537 I 1610 1561 949 1228 397 226 I I 1546 1537 1610 1561 1610 627 226 1628 1617 1628 1167 722 197 740 226 I 1561 1538 1610 1561 I 546 1373 145 1374 827 227 1546 1228 348 227 227 1198 1375 827 349 1376 812 1562 1399 I 427 813 1013 1377 813 813 1199 1538 1428

Fund Name Vanguard Equity Income Inv (VEIPX) Vanguard European Stock Index Inv (VEURX) Vanguard Explorer Fund Inv (VEXPX) Vanguard Extended Market Index Inv (VEXMX) Vanguard FL Long-Term T/E Inv (VFLTX) Vanguard Global Equity Fund (VHGEX) Vanguard GNMA Inv (VFIIX) Vanguard Growth & Income Inv (VQNPX) Vanguard Growth Equity (VGEQX) Vanguard Growth Index Inv (VIGRX) Vanguard Health Care Inv (VGHCX) Vanguard High-Yield Corporate Inv (VWEHX) Vanguard High-Yld Tax-Exempt Inv (VWAHX) Vanguard Ins Long-Term T/E Inv (VILPX) Vanguard Instl Index Fd (VINIX) Vanguard Inter-Term Invest-Gr Inv (VFICX) Vanguard Interm-Term Bd Index Inv (VBIIX) Vanguard Interm-Term T/E Inv (VWITX) Vanguard Interm-Term Treasury Inv (VFITX) Vanguard International Growth Inv (VWIGX) Vanguard International Value Fund (VTRIX) Vanguard LifeStrategy Conserv Gr Fd (VSCGX) Vanguard LifeStrategy Growth Fd (VASGX) Vanguard LifeStrategy Income Fd (VASIX) Vanguard LifeStrategy Mod Growth Fd (VSMGX) Vanguard Long-Term Bond Index Inv (VBLTX) Vanguard Long-Term Inv-Gr Inc Inv (VWESX) Vanguard Long-Term T/E Inv (VWLTX) Vanguard Long-Term Treasury Inv (VUSTX) Vanguard Ltd-Tm Tx-Exmpt Inv (VMLTX) Vanguard Mid-Cap Index Inv (VIMSX) Vanguard Morgan Growth Inv (VMRGX) Vanguard NJ LT Tax-Exmpt Inv (VNJTX) Vanguard NY Long-Term T/E Inv (VNYTX) Vanguard PA LT Tax-Exmept Inv (VPAIX) Vanguard Pacific Stock Index Inv (VPACX) Vanguard Precious Metals & Mining (VGPMX) Vanguard PRIMECAP Fund Inv (VPMCX) Vanguard REIT Index Inv (VGSIX) Vanguard Selected Value Fund (VASVX) Vanguard Short-Term Bond Index Inv (VBISX) Vanguard Short-Term Federal Inv (VSGBX) Vanguard Short-Term Inv Gr Inc Inv (VFSTX) Vanguard Short-Term T/E Inv (VWSTX) Vanguard Short-Term Treasury Inv (VFISX) Vanguard Small-Cap Grwth Index Fd (VISGX) Vanguard Small-Cap Index Inv (NAESX) Vanguard STAR Fund (VGSTX) Vanguard Strategic Equity Fd (VSEQX) Vanguard Tax-Managed Balanced Fd (VTMFX) Vanguard Tax-Managed Gr & Inc Inv (VTGIX) Vanguard Tax-Mgd Cap Appr Inv (VMCAX) Vanguard Total Bd Mkt Index Inv (VBMFX) Vanguard Total Intl Stock Index Fd (VGTSX) Vanguard Total Stock Mkt Index Inv (VTSMX) Vanguard US Growth Inv (VWUSX) Vanguard Value Index Inv (VIVAX) Vanguard Wellesley Income Inv (VWINX) Vanguard Wellington Inv (VWELX) Vanguard Windsor-I Inv (VWNDX) Vanguard Windsor-II Inv (VWNFX) Victory Balanced A (SBALX) Victory Diversified Stk A (SRVEX) Victory Fund For Income R (GGIFX) Victory Investment Grade Conv A (SBFCX) Victory National Muni A (VNMAX) Victory Special Value A (SSVSX) Victory Stock Index Fund A (SSTIX) Victory Value Fund A (SVLSX) Villere Balanced Fund (VILLX) Volumetric Fund (VOLMX) Waddell & Reed Adv Accumul A (UNACX) Waddell & Reed Adv Asset Strat A (UNASX) Waddell & Reed Adv Bond Fund A (UNBDX) Waddell & Reed Adv Cont Inc A (UNCIX)

NAV 5/21/08

IN/LV 23.04 EU 38.66 SC/SG 67.48 GR/SB 39.06 MS 11.40 GL 22.98 GM 10.42 GI/LB 31.01 GR/LG 12.23 GR/LG 32.13 HL 127.23 CH 5.84 MB/HY 10.49 MB/LT 12.31 GI/LB 127.43 CG/IT 9.71 CG/IT 10.56 MB/IT 13.30 GS/IT 11.48 FO 24.39 FO 41.52 IN 16.85 GR 24.28 AA 14.15 GI 20.79 DB 11.53 CG 8.80 MB/LT 11.08 GS/LT 11.52 MB/IT 10.86 GR/MB 20.39 GR/LB 18.83 MS 11.64 MY/LT 11.05 MS 11.04 PB 12.65 PM 39.54 GR/GW 72.40 RE 21.78 GR 17.91 CG/ST 10.20 GS/ST 10.63 CG/ST 10.60 MB/ST 15.76 GS/ST 10.72 SC 19.38 SC/SB 31.99 BA 20.46 AG 20.16 BA 20.22 GI/LB 30.36 GR/LG 33.80 DB 10.19 FO 19.50 GI/LB 33.78 GR/LG 18.67 GR/VL 24.36 FL/VL 21.48 BA 32.31 GI/LV 14.53 GI/LV 29.53 BA 13.19 GR/LB 17.25 GS/IT 11.63 CV 12.77 MB/LT 10.94 GR/VL 18.54 GR/LB 20.73 GI/LB 13.57 BA 14.71 GR/LV 17.31 GR/LB 8.39 FL 12.81 CG 6.05 BA 8.34

Overall 2 1 5 3 3 2 1 4 3 3 3 4 4 4 3 3 3 3 2 1 1 2 2 2 2 3 ▲3 4 3 2 3 3 3 ▲3 3 3 1 1 3 3 1 1 2 3 1 4 4 2 4 ▲2 3 3 ▲1 1 3 4 3 2 1 4 3 2 2 1 3 1 ▲2 ▼4 3 4 ▲3 2 1 3 ▲1

5 Yr. Growth Risk Persistence YTD 2 3 4 3 4 3 2 ▼ 3 4 3 2 4 4 4 2 3 3 3 4 3 3 1 2 1 1 5 5 4 5 1 3 3 4 4 ▲ 3 3 5 3 5 3 2 2 1 1 2 4 3 1 3 1 2 2 3 3 2 3 2 1 1 3 2 1 3 1 1 3 3 2 3 3 3 3 ▲ 3 2 1

VA-WA

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 33

▲

▼

▲

3 1 3 2 2 1 2 4 3 4 3 2 2 2 4 3 3 3 3 1 1 4 3 4 4 2 2 3 2 3 2 3 2 3 2 2 1 2 2 2 3 3 3 3 3 3 3 4 3 4 4 4 3 1 4 4 3 4 3 3 3 4 3 3 5 2 1 4 3 3 4 3 2 3 3

-4.7 -4.5 -7.7 -4.5 0.4 -5.5 2.0 -4.2 -10.9 -4.7 -8.4 -1.4 -1.7 -1.6 -5.0 1.2 2.3 -0.5 3.2 -3.7 -2.4 -1.6 -4.0 -0.3 -2.7 1.2 -0.5 -1.2 2.2 0.4 -4.5 -6.0 0.0 0.2 -0.2 -1.5 11.9 -2.2 8.1 -8.5 2.2 2.3 0.9 0.4 2.1 -5.9 -4.2 -2.3 -5.0 -1.5 -5.0 -4.8 1.8 -3.6 -5.0 -7.0 -5.3 -0.6 -1.4 -7.1 -6.1 -3.6 -4.9 2.2 -0.4 1.2 -2.8 -5.3 -2.2 -3.4 -3.1 -4.2 -0.7 -0.4 -2.2

Annualized 3 Mos -0.1 5.1 1.4 1.8 -0.7 3.7 0.6 1.5 1.3 3.5 -5.1 0.0 -2.5 -1.9 1.0 -0.8 -0.2 -1.7 0.1 5.8 6.0 0.7 1.6 0.2 1.3 -0.1 -0.6 -2.1 -0.5 -1.0 2.1 3.3 -1.2 -0.8 -1.1 3.6 11.4 2.8 8.5 -5.1 0.1 0.4 -0.6 -0.4 0.1 3.1 2.2 0.9 1.4 0.4 1.0 1.3 0.0 5.4 1.2 3.8 -1.2 0.2 1.5 -2.8 -2.1 0.7 3.0 0.5 1.6 0.2 4.9 0.8 1.5 2.7 2.5 4.8 1.3 -1.6 2.0

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-8.6 -9.8 -13.7 -10.7 1.2 -12.9 4.3 -9.4 -13.3 -7.8 -10.6 -4.0 -2.3 -1.5 -9.6 2.9 5.0 0.1 7.1 -8.8 -8.4 -3.0 -8.1 -0.3 -5.4 3.4 0.5 -1.2 6.4 0.9 -9.4 -10.2 0.9 0.9 0.3 -9.6 5.2 -5.9 -6.9 -13.0 4.3 4.6 2.1 0.8 4.6 -12.4 -11.3 -5.3 -12.0 -3.3 -9.7 -9.5 3.9 -10.1 -9.8 -10.6 -11.2 -1.2 -3.3 -14.9 -12.7 -5.9 -9.0 3.9 -4.5 2.2 -6.9 -10.0 -9.2 -7.9 -7.0 -8.7 2.0 1.1 -3.7

8.8 17.2 8.2 10.4 2.9 14.7 5.2 7.2 10.5 9.3 5.8 3.5 2.0 1.9 8.2 4.1 3.7 2.2 5.8 18.5 18.8 7.3 9.9 6.0 8.6 3.5 2.2 1.8 5.2 2.7 10.9 10.5 3.1 2.0 2.7 13.7 44.3 12.6 11.7 6.0 4.7 5.3 4.4 2.5 4.8 11.5 9.4 8.4 7.1 6.3 8.1 9.0 4.8 18.7 8.8 7.9 8.1 6.3 9.9 5.5 6.9 8.0 10.5 4.4 8.4 3.4 16.4 7.9 10.2 4.4 5.4 11.9 29.2 3.4 9.6

11.9 20.9 12.9 15.3 3.4 19.8 4.4 10.6 11.1 9.4 10.6 5.0 3.4 2.9 10.6 4.2 3.7 2.7 4.5 20.6 23.1 8.2 12.2 6.2 10.3 4.7 4.1 2.8 5.3 2.4 15.6 12.0 3.4 2.9 3.3 19.6 40.9 15.1 18.2 14.3 3.5 3.7 3.6 2.0 3.4 15.1 15.0 10.5 13.8 7.4 10.6 11.6 4.3 22.4 11.6 8.0 12.8 7.0 11.5 10.5 12.5 8.7 13.1 3.1 7.5 3.4 18.2 10.1 12.1 9.6 9.5 11.6 21.7 3.3 9.8

5.9 6.9 7.4 5.8 5.1 10.7 5.8 3.9 2.7 3.0 11.2 4.1 4.4 4.7 3.9 5.8 5.8 4.2 6.4 7.3 9.0 5.7 5.5 5.7 5.8 6.7 5.9 4.5 7.0 3.7 — 4.4 5.0 4.7 4.9 6.3 22.4 8.8 11.5 6.4 5.1 5.2 4.9 2.9 4.9 — 6.2 6.6 7.9 5.1 3.9 4.5 5.7 7.6 4.3 -2.3 4.8 6.7 7.3 5.0 5.3 4.9 7.2 4.8 4.7 5.0 9.0 3.3 5.2 — 3.2 6.3 13.7 5.9 5.2

3.2 3.2 0.4 1.2 4.1 1.8 4.6 1.8 0.1 0.9 1.9 1.3 0.8 0.8 2.1 4.8 4.4 0.7 3.8 2.0 2.2 3.6 2.4 4.1 3.0 4.9 5.4 0.8 4.2 0.6 1.3 0.9 4.0 4.0 4.2 2.4 2.1 0.6 4.6 1.9 4.0 3.9 4.5 0.6 3.2 0.5 1.3 3.5 1.1 2.8 1.9 1.6 4.5 2.7 1.8 0.6 2.8 4.5 3.3 1.7 2.5 1.5 0.5 6.4 3.3 3.1 0.5 1.4 0.6 0.2 0.0 0.4 0.7 4.1 1.3

-5.1 -1.3 -9.6 -6.7 2.2 -2.7 6.9 -6.8 3.5 1.6 -11.7 -6.3 -3.6 -2.3 -4.7 4.5 7.4 -0.1 10.7 3.7 2.7 1.5 -2.0 3.3 -0.1 5.4 1.0 -1.9 9.3 1.8 -6.6 -0.8 1.4 1.2 1.0 -0.8 33.7 4.0 -12.6 -13.9 7.1 7.4 4.2 1.8 7.8 -5.1 -8.8 -0.2 -14.0 0.2 -4.7 -4.6 6.3 3.2 -4.9 -1.8 -9.8 1.3 2.1 -14.0 -9.8 1.1 0.3 6.9 1.5 3.3 -1.4 -5.0 -2.5 -5.3 -6.1 2.5 34.2 3.1 6.0

Ownership Costs $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$$ $$$ $ $$ $$ $$$ $$$ $$$ $$ $$ $$$ $$$ $$$ $$$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

WA-WE

Page 34

THE VALUE LINE MUTUAL FUND SURVEY Total Return Through 4/30/08

Value Line Rankings Page 828 1582 1562 1514 1228 1611 1611 146 828 771 227 813 547 548 549 1028 147 1562 198 428 1538 199 I 1168 1330 1378 814 627 1588 228 1331 1538 148 1546 627 398 I I I 1332 I 828 1572 828 1379 814 228 1514 1572 1013 1562 I 428 814 228 428 203 1380 1611 228 1611 1539 1028 I 1028 1028 I I I 399 1539 I 1428 628 1014

Fund Name Waddell & Reed Adv Core Invest A (UNCMX) Waddell & Reed Adv Global Bond A (UNHHX) Waddell & Reed Adv Gov Sec A (UNGVX) Waddell & Reed Adv High Income A (UNHIX) Waddell & Reed Adv Intl Gr A (UNCGX) Waddell & Reed Adv Muni Bond A (UNMBX) Waddell & Reed Adv Muni Hi Inc A (UMUHX) Waddell & Reed Adv New Concepts A (UNECX) Waddell & Reed Adv Ret Shares A (UNFDX) Waddell & Reed Adv Sci & Tech A (UNSCX) Waddell & Reed Adv Vanguard A (UNVGX) Wall Street Fund (WALLX) Wasatch Core Growth Fund (WGROX) Wasatch Micro Cap Fund (WMICX) Wasatch Small Cap Growth (WAAEX) Wasatch Small Cap Value (WMCVX) Wasatch Ultra Growth (WAMCX) Wasatch-Hoisington US Treasury (WHOSX) Weitz Hickory Fund (WEHIX) Weitz Partners Value Fund (WPVLX) Weitz Short-Intermediate Inc (WEFIX) Weitz Value Fund (WVALX) Wells Fargo Adv Aggr Alloc Admin (NWBEX) Wells Fargo Adv Asia Pacific Fd Inv (SASPX) Wells Fargo Adv Asset Alloc A (SFAAX) Wells Fargo Adv Balanced Fund Inv (STAAX) Wells Fargo Adv C&B Lrg Cap Val D (CBEQX) Wells Fargo Adv C&B Mid Cap Val D (CBMDX) Wells Fargo Adv CA Tax-Free A (SCTAX) Wells Fargo Adv Common Stock Z (STCSX) Wells Fargo Adv Conserv Alloc Admin (NVCBX) Wells Fargo Adv Corp Bond Fd Inv (STCBX) Wells Fargo Adv Discovery Fund Inv (STDIX) Wells Fargo Adv Divers Bond Admin (NVMFX) Wells Fargo Adv Diversified Eq A (NVDAX) Wells Fargo Adv Dividend Inc Inv (SDVIX) Wells Fargo Adv DJ Target 2010 A (STNRX) Wells Fargo Adv DJ Target 2020 A (STTRX) Wells Fargo Adv DJ Target 2030 A (STHRX) Wells Fargo Adv DJ Target 2040 A (STFRX) Wells Fargo Adv DJ Target Today A (STWRX) Wells Fargo Adv Equity Income Admin (NVIEX) Wells Fargo Adv Govt Securities Inv (STVSX) Wells Fargo Adv Gr & Inc Inv (SGRIX) Wells Fargo Adv Gr Balanced Admin (NVGBX) Wells Fargo Adv Growth Equity A (NVEAX) Wells Fargo Adv Growth Fund Inv (SGROX) Wells Fargo Adv High Income Inv (STHYX) Wells Fargo Adv Income Plus A (STYAX) Wells Fargo Adv Index Admin (NVINX) Wells Fargo Adv Interm Gov Inc A (NVGAX) Wells Fargo Adv Intl Equity A (SILAX) Wells Fargo Adv Large Cap App A (WFAPX) Wells Fargo Adv Large Co Core Z (WLCZX) Wells Fargo Adv Lge Co Gr Admin (NVLCX) Wells Fargo Adv Lrg Cap Growth Inv (STRFX) Wells Fargo Adv Mid Cap Disc Inv (SMCDX) Wells Fargo Adv Mod Balanced Admin (NVMBX) Wells Fargo Adv Muni Bond Inv (SXFIX) Wells Fargo Adv Opportunity Fd Inv (SOPFX) Wells Fargo Adv Sh-Tm Muni Bond Inv (STSMX) Wells Fargo Adv Short-Term Bond Inv (SSTBX) Wells Fargo Adv Sm Cap Opp Admin (NVSOX) Wells Fargo Adv Small Cap Gr A (MNSCX) Wells Fargo Adv Small Cap Value Z (SSMVX) Wells Fargo Adv Small Co Gr Admin (NVSCX) Wells Fargo Adv Spec Fincl Svc A (SIFEX) Wells Fargo Adv Stable Income Admin (NVSIX) Wells Fargo Adv Tot Ret Bd Admin (MNTRX) Wells Fargo Adv U.S. Value Z (SEQIX) Wells Fargo Adv Ultra S-T Inc Inv (STADX) Wells Fargo Adv Ultra Shrt Dur Z (STGBX) Wells Fargo Adv WlthBldr Gr Bal (WBGBX) WesMark Growth Fund (WMKGX) Westcore Blue Chip (WTMVX)

Inv. Obj./Peer GI/LB IB GS/LT CH FO MB/LT MB/HY AG/MG GI/LB TC GR/LG GR/GW SC/SB SC/SB SC/SG SC/SV AG/SG GS/LT GR/SV GR/VL CG GR/VL BA PB AA BA GR GR/MV MC/LT GR/VL AA CG AG/GW DB GR IN/LV AA AA AA AA AA GI/LB GM GI BA GR GR/GW CH GM GI GS/LT FO GR GR/LV GR/LG GR/LG AG/MB BA MB/LT GR MB/ST CG/ST SC SC/SB SC/SV SC/SB FS CG/ST DB IN/LB CG/ST IB BA GR GI/LV

NAV 5/21/08 6.04 3.97 5.56 6.95 10.86 6.91 4.80 11.00 9.57 10.95 9.54 9.42 31.16 5.05 31.25 3.45 20.88 14.52 31.62 17.92 11.74 28.58 13.82 12.55 20.41 20.92 8.59 14.83 10.83 18.27 18.89 10.37 21.93 24.53 33.06 15.89 12.93 14.24 15.03 16.94 10.16 19.23 10.58 23.77 27.06 21.54 26.53 7.34 10.86 53.14 10.83 16.21 11.20 8.08 48.63 28.48 20.07 19.89 9.38 36.96 9.76 8.41 32.58 11.35 30.47 21.06 2.59 9.92 12.31 12.97 8.72 9.03 12.34 13.77 13.07

Overall 2 1 ▲2 3 1 1 ▼3 2 3 ▼2 ▼3 3 4 4 4 4 4 3 4 4 1 5 4 ▲1 2 2 3 4 3 2 2 3 3 2 5 2 2 2 ▲2 3 2 3 3 4 3 4 3 ▲3 1 3 2 2 3 4 ▼5 3 3 2 2 3 1 3 ▲1 3 3 5 5 3 1 3 3 3 3 3 3

5 Yr. Growth Risk Persistence YTD 3 2 3 3 3 3 3 3 ▼ 4 3 3 4 4 4 4 3 4 5 3 3 2 3 2 5 2 1 2 3 4 3 1 3 4 3 3 2 1 1 2 2 1 2 2 3 2 3 4 ▼ 4 2 2 2 3 3 4 4 3 2 1 3 3 1 1 3 4 4 4 3 1 3 2 1 1 2 2 2

June 3, 2008

▼

▼

▼

▲

▼

3 1 3 1 2 3 2 2 3 2 3 3 3 3 3 3 4 2 3 3 3 3 5 1 4 4 3 3 2 2 4 3 2 3 5 3 4 4 4 3 4 3 3 4 5 3 3 2 2 4 3 2 3 3 4 4 3 4 1 3 3 4 1 2 2 3 4 3 3 3 3 3 5 5 4

-4.7 3.7 2.1 0.7 -6.5 0.7 -0.9 -5.2 -3.6 -4.7 -8.7 -6.5 -9.9 -12.8 -11.3 -5.3 -14.9 0.4 -8.9 -10.9 2.2 -10.1 -6.3 -8.3 -4.7 -2.5 -4.8 -7.8 -0.6 -2.3 -1.7 1.8 -8.4 0.7 -6.7 -3.7 0.9 -1.2 -2.8 -3.6 1.1 -5.6 0.5 -2.6 -5.0 -7.6 -8.8 -2.4 1.6 -5.2 1.7 -5.5 -8.6 -2.8 -8.5 -6.3 1.0 -3.3 -0.2 -1.7 0.7 -0.7 -3.3 -10.5 -3.0 -13.9 -9.7 -1.7 1.9 -4.9 -2.4 -1.2 -4.3 -3.3 -1.9

Annualized 3 Mos 4.9 2.5 0.4 2.6 3.8 -1.1 -1.9 2.4 6.2 3.0 1.0 2.9 -5.4 -0.2 -3.4 1.2 -3.6 -1.2 -7.0 -7.9 0.3 -7.5 0.4 -0.1 0.5 0.1 -0.7 0.3 -1.6 2.2 -0.9 0.9 2.8 -1.0 0.5 1.4 1.5 1.9 2.3 2.5 0.9 -0.7 -1.2 1.1 0.3 0.6 1.7 -0.1 0.3 0.9 0.0 4.7 1.6 1.0 -1.7 3.7 5.1 -0.4 -0.9 4.7 0.0 -1.6 3.9 -1.5 2.1 -2.2 -8.5 -2.2 0.3 -0.3 -2.2 -1.7 2.5 4.7 3.1

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-7.4 4.4 4.3 -0.6 -10.6 1.4 -2.6 -7.8 -8.8 -8.7 -10.7 -11.3 -14.0 -20.8 -16.3 -11.7 -21.5 5.7 -13.8 -16.3 4.3 -15.4 -11.5 1.6 -7.5 -3.9 -10.4 -14.7 -0.3 -6.9 -2.3 1.8 -12.4 2.5 -12.2 -7.3 0.4 -4.2 -7.6 -9.3 1.3 -9.9 1.8 -8.1 -9.3 -14.5 -12.8 -4.4 3.2 -9.9 3.5 -12.2 -10.9 -8.4 -14.9 -8.4 -5.6 -5.6 -0.3 -7.2 1.4 -0.8 -7.8 -17.4 -9.3 -22.4 -20.2 -1.4 3.9 -11.8 -3.2 -1.6 -8.3 -5.1 -6.9

12.2 7.5 4.1 5.8 19.1 2.9 3.2 12.0 12.7 16.3 13.3 10.7 4.3 7.1 5.5 6.9 6.0 4.5 0.9 0.7 4.5 0.1 8.0 30.5 7.3 6.1 5.7 5.6 2.7 13.3 4.9 3.4 15.6 4.1 7.9 7.7 6.6 8.0 8.6 9.4 5.4 7.2 3.4 6.3 7.5 9.7 14.6 4.4 5.0 7.9 3.9 14.2 8.7 11.3 6.3 10.1 8.9 6.1 3.4 9.7 3.5 2.8 14.6 14.8 14.3 5.9 0.6 2.8 4.6 4.2 2.3 2.8 8.3 8.1 8.1

12.1 6.5 3.6 6.6 17.6 3.2 4.9 14.2 11.6 17.7 12.2 12.9 11.8 13.3 10.8 14.8 10.2 5.9 10.4 6.2 4.1 6.3 10.1 34.9 9.1 7.2 10.4 10.6 3.6 14.8 5.0 4.1 15.6 3.7 10.6 11.8 7.4 9.0 10.2 11.4 5.8 11.0 3.1 8.0 9.2 12.2 13.7 6.6 4.9 10.3 2.9 16.3 10.9 11.3 6.0 9.9 15.4 7.0 5.5 13.9 3.4 2.6 19.1 15.5 19.7 10.6 4.4 2.2 4.2 9.5 2.1 2.2 9.5 9.1 11.4

4.8 4.4 5.0 5.8 4.9 5.1 4.1 7.0 5.7 12.8 6.6 5.8 10.1 16.2 10.1 13.2 8.9 7.0 2.9 6.2 4.7 6.2 5.4 15.4 4.9 3.1 6.8 10.1 4.6 8.2 5.1 4.7 7.7 5.0 3.8 6.5 4.4 4.1 4.0 3.8 4.4 4.1 5.2 2.8 5.8 4.5 6.0 3.4 — 3.7 4.8 5.5 — 5.7 2.6 2.9 — 5.5 4.2 7.1 3.9 3.4 10.3 2.9 13.8 1.9 1.8 3.6 6.0 3.9 3.2 3.3 4.0 4.7 3.9

0.6 3.8 3.3 7.3 0.5 4.0 4.3 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.0 4.4 1.1 0.5 3.7 0.9 1.5 0.0 2.1 2.2 1.0 0.3 3.9 0.5 3.5 1.6 0.0 5.0 0.6 1.7 2.6 1.9 1.4 1.0 3.0 1.2 1.5 0.6 2.2 0.2 0.0 2.5 4.5 1.8 4.0 1.2 0.0 0.5 0.0 0.0 0.8 2.9 4.5 1.1 4.1 2.1 0.3 0.0 0.0 0.0 1.7 4.5 4.7 1.3 2.3 5.2 1.9 0.5 0.7

4.0 11.0 5.7 -0.2 6.7 2.9 -2.7 -0.1 3.2 12.6 11.3 2.1 -12.9 -16.1 -7.9 -15.2 -5.7 9.2 -21.8 -20.7 6.3 -20.9 -5.2 30.9 -1.8 0.4 -9.1 -20.8 -0.1 -1.1 1.3 2.4 3.5 4.9 -6.4 -3.8 4.8 1.5 -1.0 -2.3 4.7 -6.5 3.9 -7.7 -3.3 -7.9 5.7 -5.1 5.6 -5.0 5.7 -3.1 0.8 -8.1 -6.2 6.8 -8.4 -0.8 0.4 -3.4 3.4 0.8 0.0 -4.4 -0.8 -15.6 -24.8 0.6 6.2 -11.6 -2.2 -0.3 -3.2 3.5 -3.1

Ownership Costs $$$ $$$ $$$ $$$ $$$ $$ $$ $$$ $$$ $$$ $$$ $$ $$ $$ $$ $$ $$ $ $$ $$ $ $$ $ $$ $$$ $$ $$ $$ $$ $$ $ $ $$ $ $$$ $$ $$$ $$$ $$$ $$$ $$$ $ $ $$ $ $$$ $$ $ $$$ $ $$ $$$ $$$ $$ $ $$ $$ $ $ $$ $ $ $$ $$$ $$ $$ $$$ $ $ $$ $ $ $$ $$ $$

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page I 1014 149 1539 I 1539 1381 350 I 203 814 I 950 550 428 628 I I I 1408 628 1014 I 628 1014

Fund Name Westcore Flexible Income (WTLTX) Westcore Growth (WTEIX) Westcore MIDCO Growth (WTMGX) Westcore Plus Bond Fund (WTIBX) Westcore Small-Cap Opportunity (WTSCX) Western Asset Tr-Core Port Inst (WATFX) Westwood Balanced Fd AAA (WEBAX) Westwood Equity Fund AAA (WESWX) Westwood Interm Bond Fund (WEIBX) White Oak Select Growth Fund (WOGSX) William Blair Growth N (WBGSX) William Blair Income N (WBRRX) William Blair Intl Growth N (WBIGX) William Blair Value Discovery N (WBVDX) Wilshire Large Co Growth Inv (DTLGX) Wilshire Large Co Val Inv (DTLVX) Wilshire Small Co Growth Inv (DTSGX) Wilshire Small Co Val Inv (DTSVX) Wright Current Income Fd-Standard (WCIFX) Wright Intl Blue Chip Equity (WIBCX) Wright Major Blue Chip Equity (WQCEX) Wright Selected Blue Chip Eq (WSBEX) Wright Total Return Bond Fund (WTRBX) Yacktman Focused Fund (YAFFX) Yacktman Fund (YACKX)

CG GI AG/MG CG/IT SC/SV CG BA GI/LB CG/IT AG/LG GR/GW CG FO SC/SV GR/LG GR/LV SC/SG SC/SV GM FO GR/LB GI CG GR GI/VL

NAV 5/21/08 9.13 14.18 6.69 10.52 32.63 10.83 11.58 10.70 11.06 33.20 11.40 9.22 27.98 11.41 33.00 16.43 15.85 15.79 9.65 21.82 13.64 9.77 12.38 13.55 12.69

Overall 4 3 3 1 4 5 1 1 4 5 2 3 ▼2 4 3 4 ▼5 4 3 3 4 4 4 3 3

5 Yr. Growth Risk Persistence YTD 4 4 3 2 4 ▼ 4 1 3 3 4 3 2 4 3 3 3 4 4 2 4 ▲ 2 3 2 2 2

WE-YA

Total Return Through 4/30/08

Value Line Rankings Inv. Obj./Peer

Page 35

▲

▲

2 3 3 1 3 3 3 2 4 4 3 3 1 3 4 3 3 3 4 2 5 3 5 3 3

-2.0 -8.9 -5.3 1.1 -8.9 0.5 -1.3 -3.7 1.6 -9.0 -3.2 0.8 -5.7 -0.8 -7.8 -7.2 -8.6 -6.7 1.1 -4.3 -6.9 -6.0 0.7 -1.5 -3.4

Annualized 3 Mos -1.2 2.5 2.2 -0.4 -1.6 -1.3 1.8 2.8 0.0 0.4 4.9 -1.2 4.1 2.7 2.5 -1.1 2.9 1.1 -0.3 6.5 0.6 1.1 -0.5 1.9 1.0

6 Mos 12 Mos

3 Yrs

5 Yrs

10 Yrs

Trailing Yield

-6.2 -11.4 -10.0 2.5 -18.1 0.1 -3.1 -7.6 3.1 -14.5 -8.6 0.9 -13.8 -7.1 -11.3 -13.0 -13.4 -13.3 3.0 -11.3 -9.9 -10.6 2.6 -3.7 -5.4

4.1 10.5 11.7 5.2 6.3 2.1 10.1 13.5 2.8 5.4 13.0 3.2 19.5 9.9 9.5 6.4 8.4 7.5 2.4 17.0 7.6 7.9 2.1 6.1 5.4

7.4 12.0 12.5 5.8 13.4 2.4 10.6 14.9 2.4 5.6 12.0 2.8 22.7 12.3 9.4 10.5 12.4 13.3 2.5 19.0 9.3 12.5 2.3 9.9 10.0

6.0 6.0 6.6 6.2 4.6 5.2 6.6 7.1 4.2 -0.5 3.6 4.7 13.2 7.6 3.9 4.3 2.5 5.8 4.3 5.2 1.6 3.7 4.0 5.9 7.0

6.9 0.0 0.0 5.1 0.0 3.5 1.8 0.4 1.6 0.0 0.0 5.8 1.1 0.0 0.0 1.1 0.0 0.7 2.4 1.2 0.5 0.0 2.5 1.4 2.2

-8.2 4.4 -1.3 4.3 -20.0 -1.7 4.1 1.9 4.0 -4.7 4.6 0.7 3.2 -9.4 1.1 -13.8 -6.2 -14.4 3.4 -6.2 -6.4 -5.5 2.9 -2.1 -3.8

Ownership Costs $ $$ $$ $ $$ $ $$ $$ $$ $$ $ $ $$ $$ $$ $$ $$ $$ $ $$ $$ $$ $ $$ $

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

Page 36

June 3, 2008

HIGHEST RANKED FUNDS BY CATEGORY AS OF 4/30/08 GENERAL EQUITY

SPECIAL EQUITY

Value Line Rank Inv. Obj./Peer Risk Overall

Fund American Funds Fundamentl Invs A BlackRock Equity Dividend B Westwood Equity Fund AAA

GI/LB IN/LV GI/LB

3 2 3

1 1 1

Fairholme Fund 1st Source Monogram Income Equity American Funds Cap Inc Builder A

GR GI IN/LB

3 2 2

1 1 1

J Hancock Large Cap Equity A Eaton Vance Large Cap Value A Janus Twenty Fund

GR GI/LV GR/LG

4 2 3

1 1 1

Vanguard PRIMECAP Fund Inv Touchstone Value Opps Z ING Corporate Leaders Trust Fd B

GR/GW GI/MV GI/LB

3 2 3

1 1 1

Hartford Capital Apprec A Tocqueville Fund Janus Adviser Mid Cap Gr S

AG GR/VL AG

3 3 3

1 1 1

American Funds Gr Fnd of Amer A Janus Enterprise Fund Neuberger Berman Genesis Inv

GR/LB GR SC/SV

3 3 3

1 1 1

Fidelity Contrafund Mutual Qualified Z Gabelli Equity Income Fd

GR GI/VL IN/LV

3 2 2

1 1 1

MFS Mass Investors Trust A Sentinel Common Stock A Rainier Core Equity Fd

GI/LB GI/LV GR/LB

2 2 3

1 1 1

Wells Fargo Adv Sm Cap Opp Admin

SC

3

1

Value Line Rank Inv. Obj./Peer Risk Overall

Fund

Fund

UT OT

3 2

1 1

American Funds Cap Wld Gr&Inc A Matthews Asian Growth & Income Fd

GL PB/NJ

3 3

1 1

Fidelity Select Chemicals Eaton Vance Dividend Builder A Vanguard Precious Metals & Mining

OT UT PM

3 3 5

1 1 1

Elfun International Fund UMB Scout International Fund American Funds New World A

FO FO GL

3 3 4

1 1 1

CGM Realty Fund Jennison Utility B AllianceBernstein Utility Inc B

RE UT UT

5 3 3

1 1 1

Janus Adviser Intl Growth I American Funds EuroPacific Gr A American Funds New Perspective A

FO FO GL

4 3 3

1 1 1

BlackRock Utilities & Telecomm B1 T. Rowe Price New Era Nationwide Global Utilities C

UT/GL EN UT

3 5 3

1 1 1

Harbor International Inst Janus Overseas Fund Fidelity Latin American Fund

FO FO FO/LA

4 5 5

1 1 1

Aim Utilities Inv Jennison Nat Resources B Putnam Utilities Gr and Inc A

UT EN UT

3 5 3

1 1 1

First Eagle Global Fund A Huntington International Equity B MFS International Growth Fund A

GL GL FO

2 3 3

1 1 1

GAMCO Global Growth Fd Fidelity Select Natural Resources FBR Gas Utility Index Fund

TC/GL EN UT

3 5 3

1 1 1

Lazard Emerging Markets Inst T. Rowe Price Latin America Harding Loevner Global Equity

FO/EM FO/LA GL

5 5 3

1 1 1

Fidelity Adv Energy Fund T Vanguard Energy Inv Evergreen Utility and Telecom A

EN EN UT

5 5 4

1 1 2

Vanguard International Growth Inv Thomas White International Sentinel International Equity A

FO FO FO

3 4 3

1 1 1

Waddell & Reed Adv Sci & Tech A Aim Energy Inv Fidelity Select Energy Portfolio

TC EN EN

3 5 5

2 2 2

Pacific Capital New Asia Gr A BlackRock Latin America B DWS Latin America Fund S

PB/NJ FO/LA FO/LA

4 5 5

1 1 1

Putnam Global Natural Resources A Franklin Natural Resources A

EN EN

5 5

2 2

First Eagle Overseas Fund A USAA World Growth Fund

FO GL

2 2

1 1

TAXABLE FIXED INCOME

Value Line Rank Inv. Obj./Peer Risk Overall

Value Line Rank Inv. Obj./Peer Risk Overall

MFS Utilities Fund A Fidelity Select Consumer Staples

PARTIAL EQUITY

Fund

INTERNATIONAL EQUITY

Fund

MUNICIPAL BOND

Value Line Rank Inv. Obj./Peer Risk Overall

Fund

Value Line Rank Inv. Obj./Peer Risk Overall

Waddell & Reed Adv Asset Strat A BlackRock Glbl Allocation B Ivy Asset Strategy C

FL AA/GL FL

3 1 3

1 1 1

Waddell & Reed Adv Global Bond A Wells Fargo Adv Income Plus A Federated Bond Fund F

IB GM CG

2 2 2

1 1 1

Franklin MI Ins Tax-Free Inc A Franklin NY Tax-Free Inc A Nuveen Interm Duration Muni Bd R

MS MY/LT MB/LT

3 3 3

1 1 1

Leuthold Core Investment Fund Ivy International Balanced A Fidelity Global Balanced Fund

AA BA BA/GL

1 2 2

1 1 1

Calvert Social Inv Bond A Westcore Plus Bond Fund Dodge & Cox Income Fund

CG CG/IT CG

2 2 2

1 1 1

DWS Mass Tax-Free S Fidelity MN Muni Income AllianceBernstein Muni Inc NY A

MS MS MY/LT

3 3 3

1 1 1

J Hancock Balanced A Thornburg Investment Inc Builder A Nicholas-Applegate US Convertible

BA BA CV

2 2 2

1 1 1

Vanguard GNMA Inv Managers Fixed Inc Fund A Eaton Vance Strategic Inc B

GM CG IB/ST

2 3 1

1 1 1

Dreyfus Premier MN Muni A Legg Mason Managed Municipals A Thrivent Municipal Bond Fund A

MS MB/LT MB/LT

3 3 3

1 1 1

MFS Global Total Return Fund A Permanent Portfolio Fund Eaton Vance Balanced A

BA/GL AA BA

1 2 2

1 1 1

FPA New Income Fund Federated Income Trust Inst Columbia Strategic Income Fund A

CG GM DB

1 2 2

1 1 1

Fidelity PA Muni Income Fidelity Intermediate Muni Income Franklin Florida Tax-Free Inc A

MS MB/IT MS

3 3 3

1 1 1

Oakmark Equity and Income I American Century Str Alloc:Agg Inv MSIF Inst Balanced Fund

BA AA BA

1 2 1

1 1 1

Franklin Strategic Income A DWS GNMA Fund S SEI Daily Inc Tr-GNMA Bond A

DB GM GM

2 2 2

1 1 1

Colorado Bond Shrs Tx-Exmt A Fidelity MI Muni Income Aim Municipal Bond Fund A

MS MS MB/LT

1 3 3

1 1 1

Vanguard Wellington Inv Westwood Balanced Fd AAA Oppenheimer Quest Opportunity Val A

BA BA FL

1 1 1

1 1 1

SMAM Intl Fixed Income Fund Inst Federated Strategic Income Fund A Vanguard Short-Term Federal Inv

IB/GL DB GS/ST

3 3 2

1 1 1

Dreyfus Premier CT Muni A Fidelity Municipal Income AllianceBernstein Muni-Insd Natl A

MS MB/LT MB/IS

3 3 3

1 1 1

GE Strategic Investment Fd A Vanguard Convertible Securities Calamos Global Growth & Income A

FL CV CV

2 2 3

1 1 1

Pioneer Bond Fund A Federated Fund for US Govt Sec A Fidelity GNMA Fund

CG GM GM

3 2 2

1 1 1

Fidelity OH Muni Income Fidelity NJ Muni Income Fidelity MA Muni Income

MS MS MS

3 3 3

1 1 1

American Century Str Alloc:Mod Inv Janus Aspen Balanced Inst Waddell & Reed Adv Cont Inc A

AA BA BA

1 1 1

1 1 1

Putnam US Govt Income Tr A JPMorgan Short Duration Bond Sel Victory Fund For Income R

GM GS/ST GS/IT

3 1 1

1 1 1

Waddell & Reed Adv Muni Bond A Fidelity NY Muni Income Putnam NJ Tax Exempt Income A

MB/LT MY/LT MS

3 3 4

1 1 1

James Balanced: Golden Rainbow Fd

FL

1

2

Weitz Short-Intermediate Inc

CG

2

1

DWS Managed Muni Bonds S

MB/LT

3

1

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 37

CONSERVATIVE FUNDS WITH HIGH OVERALL RANKS AS OF 4/30/08 GENERAL EQUITY Value Line Rank Fund American Funds Endowments Gr & Inc

Inv. Obj./Peer

YTD

3 Mo.

6 Mo.

1 Yr.

3 Yrs.

5 Yrs.

10 Yrs.

Risk

Overall

GI/LV

-5.2

-0.9

-8.6

-0.9

7.7

9.9

6.8

1

2

Columbia LifeGoal Inc & Gr Pr Z

GI

-1.5

0.8

-3.1

1.5

6.7

7.3

5.3

1

2

DWS LifeCompass Retirement S First American Strat-Gr&Inc Allc A

IN GR

-2.4 -0.7

-0.2 1.9

-4.3 -2.6

-1.2 3.6

5.8 9.5

6.8 10.3

3.4 4.7

1 1

2 2 2

Franklin Templeton Conserv Tgt A

GI

-1.1

1.5

-5.7

0.3

7.1

8.2

5.8

1

Gateway Fund

GI/LB

0.3

2.6

-0.9

4.3

7.7

7.4

5.8

1

2

Hussman Strategic Growth J Hancock Sovereign Investors A

GR GI/LB

-1.5 -3.9

-0.2 1.1

-0.6 -6.8

1.4 -0.4

3.5 8.0

7.5 8.4

— 3.1

1 1

2 2

T. Rowe Price Cap Appreciation

2

GI/VL

-0.2

2.1

-3.1

-0.7

9.2

12.5

10.3

1

Vanguard LifeStrategy Conserv Gr Fd

IN

-1.6

0.7

-3.0

1.5

7.3

8.2

5.7

1

2

1st Source Monogram Income Equity American Funds Cap Inc Builder A

GI IN/LB

-2.3 -4.2

2.8 1.1

-5.2 -8.4

2.2 -0.4

14.0 10.0

16.8 12.7

9.7 8.5

2 2

1 1

American Perform US T-E LgCp Eq Inv

GR/LV

-2.9

4.6

-5.0

1.0

11.0

13.3

3.3

2

1

BlackRock Equity Dividend B

IN/LV

-2.8

2.9

-6.1

2.9

13.3

15.2

7.2

2

1

DWS Large Cap Value A Eaton Vance Large Cap Value A

GI/LV GI/LV

-1.6 -1.7

4.6 3.2

-3.0 -4.6

5.9 1.6

10.6 12.9

12.5 15.1

5.8 8.1

2 2

1 1

Gabelli Equity Income Fd

IN/LV

-4.4

1.3

-7.4

-1.5

10.0

13.1

8.0

2

1

Heritage Growth & Income A

GI/VL

-10.9

-3.2

-13.9

-0.7

10.9

12.9

4.0

2

1

MFS Mass Investors Trust A Mutual Qualified Z

GI/LB GI/VL

-3.0 -4.2

2.5 0.4

-5.7 -6.3

1.6 -3.6

10.7 11.5

11.4 14.9

2.8 8.9

2 2

1 1

Sentinel Common Stock A

GI/LV

-3.0

3.4

-6.5

0.5

10.6

13.2

5.1

2

1

Touchstone Value Opps Z

GI/MV

-1.1

4.2

-4.2

2.7

11.5

16.9

8.5

2

1

AIC TS&W Eq Port Inst Aim Charter Fund A

GR GR/LB

-3.6 -3.2

1.0 1.7

-7.7 -6.7

-2.5 -2.0

9.3 9.6

12.3 11.2

4.3 3.7

2 2

2 2

Aim Mid Cap Core Equity A

GR/MB

-1.7

3.6

-3.9

-0.8

9.9

13.0

9.1

2

2

SPECIAL EQUITY Value Line Rank Inv. Obj./Peer

YTD

3 Mo.

6 Mo.

Fidelity Select Consumer Staples

OT

-2.9

3.3

-2.5

Aim Utilities Inv

UT

-4.9

2.4

-5.8

UT UT/GL

-5.0 -4.1

0.9 3.5

Eaton Vance Dividend Builder A

UT

-4.4

FBR Gas Utility Index Fund

UT

-3.6

Fidelity Select Chemicals GAMCO Global Growth Fd

OT TC/GL

3.6 -3.2

Fund

AllianceBernstein Utility Inc B BlackRock Utilities & Telecomm B1

1 Yr.

3 Yrs.

5 Yrs.

10 Yrs.

Risk

Overall

8.6

15.3

15.9

7.9

2

1

0.8

17.2

19.7

6.0

3

1

-5.5 -5.3

3.5 6.6

16.1 17.7

18.9 19.8

9.0 7.9

3 3

1 1

4.0

-5.6

5.2

20.5

22.9

12.8

3

1

2.1

-4.4

1.9

13.8

17.4

8.7

3

1

8.7 6.7

1.6 -6.5

22.5 7.4

18.5 14.4

21.4 16.2

10.5 7.0

3 3

1 1

Jennison Utility B

UT

-3.7

4.1

-6.6

4.8

21.4

25.0

10.4

3

1

MFS Utilities Fund A

UT

-2.6

5.1

-3.5

8.9

23.9

25.1

11.1

3

1

Nationwide Global Utilities C Putnam Utilities Gr and Inc A

UT UT

-8.6 -4.7

-1.5 2.0

-10.1 -5.5

2.4 2.5

18.3 15.7

20.9 18.2

— 6.0

3 3

1 1

American Century Utilities Inv

UT

-6.6

0.3

-8.8

-2.1

14.7

18.7

6.6

3

2

Fidelity Adv Telecom & Util Gr A

UT

-5.7

1.6

-6.2

-1.9

17.7

19.0

5.5

3

2

Fidelity Select Utilities Growth Flex-funds Social Resp Utilities

UT UT

-5.5 -2.8

2.2 3.9

-6.5 -4.5

-2.4 3.8

16.5 15.9

18.7 16.6

6.3 6.3

3 3

2 2

Franklin Utilities A

UT

-5.7

1.1

-5.2

-1.3

13.0

16.8

8.9

3

2

UT/GL

-11.2

-3.3

-15.8

-3.5

14.4

17.6

7.8

3

2

UT UT

-4.9 -8.8

1.2 -1.5

-6.1 -10.5

-2.8 0.5

10.2 12.6

14.4 16.2

— 7.1

3 3

2 2

Jennison Health Sciences A

HL

-8.3

-4.4

-9.4

-3.0

11.8

17.9

—

3

2

Morgan Stanley Utilities Fund B

UT

-4.9

2.8

-5.9

-0.4

14.1

16.4

6.1

3

2

T. Rowe Price Health Sciences Van Kampen Utility A

HL UT

-7.8 -4.3

-2.9 2.8

-8.3 -5.0

0.3 -0.5

14.0 14.6

14.7 17.0

10.1 8.0

3 3

2 2

Waddell & Reed Adv Sci & Tech A

TC

-4.7

3.0

-8.7

12.6

16.3

17.7

12.8

3

2

GAMCO Global Telecom AAA Gabelli Utilities AAA ICON Telecommunications & Utilities

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

Page 38

June 3, 2008

CONSERVATIVE FUNDS WITH HIGH OVERALL RANKS AS OF 4/30/08 INTERNATIONAL EQUITY Value Line Rank Inv. Obj./Peer

YTD

3 Mo.

6 Mo.

UBS Global Allocation Y

GL

-2.4

0.2

-6.4

First Eagle Global Fund A

GL

1.3

5.0

-0.2

First Eagle Overseas Fund A

FO

1.2

5.7

MFS Global Equity Fund B Mutual Discovery Z

GL GL

-2.6 -4.3

4.7 2.9

Fund

1 Yr.

3 Yrs.

5 Yrs.

10 Yrs.

Risk

Overall

-1.7

8.2

5.7

15.5

11.7

7.0

1

2

19.1

13.9

2

-2.0

2.2

1

15.6

20.8

15.2

2

-5.7 -6.9

1

-0.5 -2.6

12.8 13.2

15.2 17.2

6.0 10.0

2 2

1 1

5.2

2

1

USAA World Growth Fund

GL

-2.4

4.8

-5.4

0.4

13.7

16.2

Van Kampen Global Franchise A

GL

-4.8

1.5

-7.1

-3.3

10.7

15.3

MainStay Intl Equity A Managers Fremont Global Fund

FO GL

-4.0 -3.9

2.6 1.4

-8.6 -7.5

-6.9 0.1

12.3 9.3

15.8 10.9

Third Avenue International Value

FO

2.6

5.6

-7.0

1.2

12.1

22.4

2

2

Tweedy Browne Global Value

GL

-7.1

1.3

-11.1

-9.0

10.8

16.2

8.9

2

2

UBS Global Equity Y AIC McKee Intl Eqty Inst1

GL FO

-2.9 -0.9

3.5 7.6

-9.5 -7.6

-3.4 1.6

9.6 16.4

13.0 20.9

5.2 7.7

2 3

2 1

AIC TS&W Intl Eq Inst

FO

-2.3

6.8

-8.1

2.3

17.8

19.5

6.4

3

1

Aim International Growth A

FO

-5.7

3.6

-12.1

-0.6

18.6

20.9

6.7

3

1

American Beacon Intl Eq Inst American Century Global Growth Inv

FO GL

-3.9 -5.0

4.0 5.8

-7.9 -9.3

-1.5 5.5

15.0 17.9

20.4 19.4

8.2 —

3 3

1 1

American Century Intl Gr Inv

FO

-3.9

6.2

-9.5

3.9

18.1

18.6

6.5

3

1

American Funds Cap Wld Gr&Inc A

GL

-3.6

3.4

-7.6

5.8

17.5

21.0

11.9

3

1

American Funds EuroPacific Gr A American Funds New Perspective A

FO GL

-4.0 -3.9

3.8 1.9

-8.3 -8.5

6.6 4.8

19.7 16.0

22.0 18.2

10.2 9.7

3 3

1 1

— 6.3 4.6 —

2

1

2 2

2 2

Brandes Instl Intl Equity Fund

FO

-5.1

0.0

4.9

8.2

19.5

24.8

13.4

3

1

CG Cap Mkts Intl Equity Invts

FO

-4.6

4.5

-9.0

-1.3

15.7

19.9

6.7

3

1

Credit Suisse Inst Intl Focus Fd DWS Internatl Fd S

FO FO

-3.8 -4.4

6.0 5.6

-7.9 -10.1

3.6 1.3

16.6 18.1

18.8 19.5

5.6 6.7

3 3

1 1

PARTIAL EQUITY Value Line Rank Fund American Century Str Alloc:Mod Inv

Inv. Obj./Peer

YTD

3 Mo.

6 Mo.

1 Yr.

3 Yrs.

5 Yrs.

10 Yrs.

Risk

Overall 1

AA

-2.6

1.8

-4.8

3.0

9.8

11.0

6.6

1

AA/GL

0.2

1.9

-1.2

10.6

13.8

16.1

10.0

1

1

Janus Aspen Balanced Inst Leuthold Core Investment Fund

BA AA

0.5 1.7

2.7 4.1

-1.8 3.4

5.4 14.8

10.9 16.5

9.7 18.4

7.9 11.8

1 1

1 1

MFS Global Total Return Fund A

BlackRock Glbl Allocation B

BA/GL

0.7

2.8

-0.7

5.0

10.0

12.6

7.4

1

1

MSIF Inst Balanced Fund

BA

-3.7

0.4

-5.5

4.3

10.4

10.5

5.5

1

1

Oakmark Equity and Income I Oppenheimer Quest Opportunity Val A

BA FL

2.6 0.9

4.5 3.1

1.2 -0.7

8.0 8.0

12.1 9.4

13.0 10.9

11.2 4.6

1 1

1 1 1

Vanguard Wellington Inv

BA

-1.4

1.5

-3.3

2.1

9.9

11.5

7.3

1

Waddell & Reed Adv Cont Inc A

BA

-2.2

2.0

-3.7

6.0

9.6

9.8

5.2

1

1

Westwood Balanced Fd AAA Allegiant Balanced Allocation I

BA BA

-1.3 -2.8

1.8 1.7

-3.1 -5.9

4.1 1.0

10.1 8.3

10.6 9.7

6.6 —

1 1

1 2

American Century Str Alloc:Con Inv

AA

-0.9

1.1

-1.8

2.7

7.1

7.8

5.7

1

2

American Funds Balanced A

BA

-3.5

-1.0

-6.4

-0.8

6.9

9.1

7.2

1

2

Berwyn Income Fund BlackRock Bal Capital I

FL BA

-0.5 -1.4

0.3 2.7

-0.1 -4.8

2.2 -0.4

6.4 8.4

7.1 9.7

6.1 4.0

1 1

2 2

Boston Trust Balanced Fund

BA

-2.0

1.9

-3.3

5.9

8.0

8.7

5.2

1

2

Calamos Market Neutral Income A

CV

-1.2

1.0

-1.7

2.1

5.6

4.4

6.7

1

2

Columbia Balanced Z Columbia Liberty Fund A

BA BA

-1.2 -3.7

1.4 1.1

-2.5 -6.0

4.2 0.1

9.9 8.0

9.2 9.1

5.0 3.4

1 1

2 2

DWS Target 2010

FL

1.0

0.1

1.5

4.9

4.7

4.6

5.2

1

2

DWS Target 2014

FL

1.3

-0.1

2.6

6.3

5.6

5.8

3.6

1

2

Elfun Diversified Fund FPA Crescent Fund

FL BA

-3.1 2.2

2.0 4.8

-5.5 1.2

1.0 3.7

9.2 10.9

9.7 12.9

6.5 9.4

1 1

2 2

Federated Stock and Bond Fund A

BA

-2.5

1.8

-5.2

1.1

8.0

8.2

4.4

1

2

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 39

CONSERVATIVE FUNDS WITH HIGH OVERALL RANKS AS OF 4/30/08 TAXABLE FIXED INCOME Value Line Rank Fund

Inv. Obj./Peer

YTD

3 Mo.

GS/ST

0.6

-0.2

2.0

4.4

4.1

3.1

4.3

1

1

DB

1.8

0.2

3.2

6.0

4.4

3.2

4.4

1

1

Eaton Vance Strategic Inc B

IB/ST

0.3

0.2

0.9

4.7

5.4

5.8

5.0

1

1

FPA New Income Fund JPMorgan Short Duration Bond Sel

CG GS/ST

1.6 1.6

0.2 0.1

2.8 3.1

5.8 5.9

4.6 4.5

4.6 3.3

5.6 4.7

1 1

1 1

AMF Short U.S. Government Fund Allegiant Limited Maturity Bond I

6 Mo.

1 Yr.

3 Yrs.

5 Yrs.

10 Yrs.

Risk

Overall

Victory Fund For Income R

GS/IT

2.2

0.5

3.9

6.9

4.4

3.1

4.8

1

1

AMF Ultra Short Mortgage

GM/AJ

-1.4

-1.6

-0.5

1.6

3.2

2.5

3.7

1

2

Aim Ltd Maturity Treas Ret A American Century Sh-Term Govt Inv

GS/ST GS/ST

1.8 2.1

0.3 0.4

3.5 3.8

6.5 6.6

3.9 4.0

2.5 2.7

3.9 4.0

1 1

2 2

BlackRock Low Duration Inst

2

CG/ST

0.2

-1.2

1.1

3.0

3.6

2.7

4.5

1

DFA One-Yr Fixed Income

CG

1.0

0.6

1.8

4.4

4.2

3.0

4.0

1

2

Dreyfus Short-Interm Govt Federated Adj Rate Sec Inst

GS/IT GM/AJ

2.3 1.6

0.7 0.3

4.0 2.7

6.1 5.2

4.0 4.4

2.8 3.1

4.2 4.0

1 1

2 2

Federated Sh Term Inc Inst

CG/ST

0.6

-0.7

1.7

3.1

4.0

3.2

4.2

1

2

Fifth Third Short Term Bond Inst

CG/ST

0.7

-0.7

2.0

4.5

3.9

2.8

4.2

1

2

First American Shrt Trm Bd A Harbor Short Duration Inst

CG/ST CG/ST

1.0 -0.7

-0.2 -1.5

2.0 0.2

5.0 2.3

4.0 3.6

2.8 2.7

4.4 4.0

1 1

2 2

Managers Short Dur Govt Fund

GS/ST

0.4

-0.2

1.2

3.3

3.9

3.2

4.1

1

2

PIMCO Short Term Inst

CG/ST

1.1

-0.3

1.7

4.1

3.8

3.0

4.1

1

2

Payden Short Bond R SEI Daily Inc Tr-Sh Dur Gov Bd A

CG GS/ST

0.5 1.7

-0.9 0.0

2.1 3.4

4.6 6.1

3.9 4.2

2.8 3.0

4.6 4.4

1 1

2 2

Vanguard Short-Term Inv Gr Inc Inv

2

CG/ST

0.9

-0.6

2.1

4.2

4.4

3.6

4.9

1

Calvert Social Inv Bond A

CG

0.0

-0.7

1.6

4.6

4.4

5.4

5.9

2

1

Columbia Strategic Income Fund A DWS GNMA Fund S

DB GM

2.2 2.5

1.7 0.9

2.2 4.4

4.8 6.8

5.8 4.8

7.2 4.1

5.7 5.3

2 2

1 1

MUNICIPAL BOND Value Line Rank Fund Colorado Bond Shrs Tx-Exmt A

Inv. Obj./Peer

YTD

3 Mo.

6 Mo.

1 Yr.

3 Yrs.

5 Yrs.

10 Yrs.

Risk

Overall

MS

-0.1

-1.0

0.6

2.9

4.7

5.6

5.9

1

1

Wells Fargo Adv Sh-Tm Muni Bond Inv

MB/ST

0.7

0.0

1.4

3.4

3.5

3.4

3.9

1

1

BlackRock Muni Short Term I Columbia Sh-Term Muni Bond A

MB/ST MB/ST

0.5 1.5

-0.5 0.1

0.9 2.5

2.7 4.3

2.5 3.0

1.8 2.2

2.9 3.3

1 1

2 2

Dreyfus Premier Sh-Intmd Muni Bd D

MB/IT

1.3

0.1

2.1

3.8

3.0

2.3

3.1

1

2

Federated Sh Term Muni Inst

MB/ST

0.4

-0.5

1.0

2.3

2.7

2.2

3.3

1

2

USAA T/E Short Term Bond Fund Vanguard Ltd-Tm Tx-Exmpt Inv

MB/ST MB/IT

1.1 0.4

-0.3 -1.0

1.8 0.9

3.0 1.8

2.9 2.7

2.5 2.4

3.6 3.7

1 1

2 2

Aim Tax-Free Intermediate A

MB/IT

1.4

-0.1

2.4

4.5

2.9

2.6

4.2

2

2

American Funds Ltd Term T/E Bond A

MB/IT

0.6

-1.1

1.5

2.6

2.8

2.8

3.1

2

2

Bernstein Diversified Muni Fidelity Short-Intermed Muni Inc

MB/IT MB/ST

0.8 1.6

-1.2 -0.5

1.8 2.8

3.7 5.0

2.4 3.4

2.6 2.8

3.8 3.9

2 2

2 2

Thornburg Interm Muni-Natl A

MB/IT

-0.6

-1.7

0.0

0.8

2.3

2.7

3.7

2

2

Thornburg Ltd Term Muni-Natl A

MB/IT

0.0

-1.3

1.0

2.6

2.3

2.1

3.5

2

2

Aim Municipal Bond Fund A AllianceBernstein Muni Inc NY A

MB/LT MY/LT

0.3 0.2

-0.7 -0.9

1.1 0.8

2.1 1.9

3.0 3.4

3.6 4.3

4.2 4.5

3 3

1 1

AllianceBernstein Muni-Insd Natl A

MB/IS

0.1

-0.9

0.9

2.0

3.0

3.7

4.1

3

1

American Century Tax-Free Bond Inv

MB/IT

1.2

-0.6

2.2

3.7

3.0

3.0

4.5

3

1

Aquila Hawaiian T/F Trust A DWS Managed Muni Bonds S

MS MB/LT

0.5 -0.2

-0.7 -1.7

1.4 1.0

2.7 2.8

2.8 3.9

3.0 4.0

4.2 5.0

3 3

1 1 1

DWS Mass Tax-Free S

MS

1.0

-1.0

2.4

4.6

3.9

4.1

5.1

3

Dreyfus General NY Muni Bond

MY/LT

0.2

-1.1

0.7

1.2

2.6

2.8

4.1

3

1

Dreyfus Intermediate Muni Bd Dreyfus Premier CT Muni A

MB/IT MS

0.5 0.3

-1.0 -0.8

1.1 0.7

2.2 1.5

2.8 2.7

2.9 3.2

3.8 4.3

3 3

1 1

Dreyfus Premier MN Muni A

MS

0.7

-0.6

1.1

1.9

3.6

3.9

4.7

3

1

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

Page 40

June 3, 2008

BEST PERFORMING GENERAL EQUITY FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund J Hancock Large Cap Equity A

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

GR

4

1

7.8

CGM Focus Fund

GI/SV

3

3

6.6

Janus Twenty Fund

GR

3

3

5.2

Royce Premier Fd

SC/SV

3

2

CGM Focus Fund

GR

5

Artisan Small Cap Value

SC/SV

Janus Twenty Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

GR

5

1

68.2

GR/LG

3

1

30.9

J Hancock Large Cap Equity A

GR

4

1

29.0

4.4

Quaker Strategic Growth A

AG

4

1

24.7

1

3.8

Fifth Third Quality Growth A

GR/LG

4

3

23.9

3

3

3.2

IXIS CGM Advisor Trgt Eqty A

GR/LB

3

2

23.3

GR/LG

3

1

3.0

Fidelity Independence Fund

GR/LB

4

2

21.3

Keeley Small Cap Value Fund

SC/SV

4

3

2.8

Eaton Vance Multi-Cap Gr Fund A

GR/LG

4

2

17.4

CornerCap Sm. Cap Value Fd

SC/SV

3

4

2.6

Midas Special Fund

AG/MG

3

3

17.0

First Eagle Fund of America Y

GR/VL

3

2

2.1

American Century Giftrust

SC/SG

4

2

16.5

Heartland Value Plus Fund Rydex Inverse S&P 500 Str Inv

5 YEARS Fund

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

CGM Focus Fund

GR

5

1

37.1

CGM Focus Fund

GR

5

1

24.3

CGM Capital Development

GR

5

2

24.2

Turner Emerging Growth Fund

SC

4

3

23.8

Hodges Fund

GR

4

3

24.2

Quaker Strategic Growth A

AG

4

1

17.1

SC/SV

4

3

22.9

Wasatch Micro Cap Fund

SC/SB

4

4

16.2

Baron Partners Fund

GR

4

3

22.5

Bridgeway Aggressive Investors 1

AG/GW

5

3

16.0

Janus Twenty Fund

GR/LG

3

1

20.5

Vanguard Capital Opportunity Inv

GR/MG

3

2

15.5

American Century Heritage Inv

GR/SB

4

2

20.2

Calamos Growth Fund A

GR/MG

4

3

15.2

Keeley Small Cap Value Fund

Amana Growth Fund

GR

5

2

20.1

Hartford MidCap Fd A

GR/MB

3

3

14.2

J Hancock Large Cap Equity A

GR

4

1

20.1

Wells Fargo Adv Small Cap Value Z

SC/SV

4

3

13.8

GR/MG

4

3

19.8

Bridgeway Ultra-Small Company

SC/SV

5

4

13.7

MSIF Trust Mid Cap Growth Inst

WORST PERFORMING GENERAL EQUITY FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund Amana Growth Fund Oberweis Emerging Growth Portfolio

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

GR

5

2

-28.1

Legg Mason Special Invest Tr Prim

SC/SV

5

5

-27.8

SC/SG

5

5

-24.7

MainStay Small Cap Opp I

SC/SV

4

5

-25.7 -25.5

AG

5

4

-18.6

SSgA SmallCap Fund

SC/SB

4

5

Bjurman-Barry Micro-Cap Growth Fd

SC/SG

5

5

-18.0

Legg Mason Value Trust Prim

GR/LV

4

5

-24.2

Janus Venture Fund

SC/SG

5

3

-17.9

Hotchkis and Wiley Mid-Cap Val I

GR/MV

4

4

-24.0

Legg Mason Special Invest Tr Prim

SC/SV

5

5

-16.8

J Hancock Classic Value A

GR

3

4

-23.9

Managers Fremont Micro-Cap Inst

SC/SG

5

5

-16.5

SunAmerica Growth Opports A

GR/GW

4

5

-23.8

Lord Abbett Developing Growth A

SC/SG

5

3

-16.2

Bjurman-Barry Micro-Cap Growth Fd

SC/SG

5

5

-22.8

Legg Mason Value Trust Prim

GR/LV

4

5

-15.8

Pioneer Value Fund A

GI/VL

3

5

-22.3

Bridgeway Ultra-Small Company

SC/SV

5

4

-15.6

Old Mutual Barr Han Value Z

GR

3

5

-22.3

ProFunds Ultra NASDAQ-100 Fund Inv

5 YEARS Fund

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

Rydex Inverse S&P 500 Str Inv

GR

3

3

-6.4

American Heritage Fd

AG

5

5

-23.1

Allegiant M-F Small Cap Value I

SC/SV

5

5

-1.4

ProFunds Ultra NASDAQ-100 Fund Inv

AG

5

4

-9.2

American Heritage Fd

AG

5

5

0.0

American Growth Fund D

GR/LB

4

5

-8.5

Laudus Rosenberg Val L/S Inv

GR

1

3

1.1

Old Mutual Emerging Growth Fd Z

SC/SG

5

4

-4.0

GR

3

3

1.5

Putnam OTC & Emerging Growth A

SC/SG

4

4

-3.6

GR/GW

3

5

2.9

Midas Special Fund

AG/MG

3

3

-2.5

IN

3

5

2.9

Nationwide Growth Fund D

GR/LG

3

3

-2.3

Security Equity Fund- Equity A

GR/LB

3

5

4.0

Vanguard US Growth Inv

GR/LG

3

4

-2.3

IXIS Westpeak Capital Growth A

GR/LG

3

5

4.4

HighMark Large Cap Growth Ret A

GR/LG

3

3

-2.2

GR

3

5

4.7

Phoenix Capital Growth A

GR/LG

3

5

-2.1

Prudent Bear Fd Aston/ABN AMRO Growth Fund N Kelmoore Strategy Fund A

Old Mutual Barr Han Value Z

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 41

BEST PERFORMING SPECIAL EQUITY FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

BlackRock Global Resources A

EN

5

2

15.5

BlackRock Global Resources A

EN

5

2

41.8

Vanguard Precious Metals & Mining

PM

5

1

11.9

Fidelity Select Energy Svcs

EN

5

2

38.8

JPMorgan U.S. Real Estate Fund A

RE

5

3

11.0

Jennison Nat Resources B

EN

5

1

38.0

Columbia Energy & Nat Resrc Fd Z

EN

5

2

10.8

BlackRock Natural Resources B

EN

5

2

37.7

Fidelity Select Natural Gas

EN

5

2

10.7

Vanguard Energy Inv

EN

5

1

34.2

Fidelity Real Estate Investment

RE

5

3

10.7

Aim Energy Inv

EN

5

2

34.0

Aim Energy Inv

EN

5

2

9.2

T. Rowe Price New Era

EN

5

1

33.8

Pioneer Real Estate Shares A

RE

5

3

8.9

Vanguard Precious Metals & Mining

PM

5

1

33.7

First American Real Est Secs A

RE

5

3

8.6

Fidelity Select Natural Resources

EN

5

1

33.1

BlackRock Natural Resources B

EN

5

2

8.6

Fidelity Select Energy Portfolio

EN

5

2

33.1

5 YEARS Fund

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

BlackRock Global Resources A

EN

5

2

42.0

Vanguard Precious Metals & Mining

PM

5

1

22.4

Vanguard Precious Metals & Mining

PM

5

1

40.9

CGM Realty Fund

RE

5

1

21.9

CGM Realty Fund

RE

5

1

38.2

Jennison Nat Resources B

EN

5

1

21.5

Jennison Nat Resources B

EN

5

1

37.6

BlackRock Global Resources A

EN

5

2

20.9

Vanguard Energy Inv

EN

5

1

35.0

USAA Precious Metals and Minerals

PM

5

2

20.6

Oppenheimer Gold & Spec Min A

PM

5

2

34.9

Vanguard Energy Inv

EN

5

1

18.6

USAA Precious Metals and Minerals

PM

5

2

34.5

Aim Energy Inv

EN

5

2

18.2

Fidelity Select Natural Resources

EN

5

1

34.1

Fidelity Select Natural Gas

EN

5

2

18.2

Aim Energy Inv

EN

5

2

33.9

Oppenheimer Gold & Spec Min A

PM

5

2

18.2

Columbia Energy & Nat Resrc Fd Z

EN

5

2

33.8

Evergreen Precious Metals B

PM

5

2

17.7

WORST PERFORMING SPECIAL EQUITY FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

ProFunds Mobile Telecom UltrSec Svc

UT

5

5

-44.1

ProFunds Mobile Telecom UltrSec Svc

UT

5

5

-64.1

ProFunds Telecom UltraSector Inv

UT

5

4

-16.5

Fidelity Select Home Finance

FS

4

5

-43.5

DWS Communications Fund A

UT

4

4

-16.0

Aim Financial Services Inv

FS

4

5

-30.1

Fidelity Select Insurance

FS

3

5

-15.6

Fidelity Select Banking

FS

3

5

-25.6

Fidelity Select Air Transportation

OT

4

4

-15.3

Fidelity Select Financial Services

FS

3

5

-23.9

Morgan Stanley Financl Serv Tr B

FS

5

4

-14.7

DWS Communications Fund A

UT

4

4

-22.8

ICON Information Technology

TC

4

4

-13.9

J Hancock Regional Bank B

FS

3

5

-22.3

Old Mutual Columbus Tech & Comm Z

TC

4

3

-13.7

Franklin Real Estate Sec A

RE

5

4

-22.2

Fidelity Select Telecommunications

TC

4

4

-13.7

Alpine U.S. Real Estate Eq Y

RE

5

5

-21.2

Fidelity Select Paper&Forest Prods

OT

4

5

-13.6

Fidelity Select Insurance

FS

3

5

-21.2

5 YEARS Fund

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

Fidelity Select Home Finance

FS

4

5

-3.6

Rydex Telecomm Inv

UT

4

4

ProFunds Mobile Telecom UltrSec Svc

UT

5

5

1.9

J Hancock Technology A

TC

4

5

-4.4 -3.7

Aim Financial Services Inv

FS

4

5

3.1

Fidelity Select Home Finance

FS

4

5

-1.5

Fidelity Select Banking

FS

3

5

3.4

Old Mutual Columbus Tech & Comm Z

TC

4

3

-0.9

J Hancock Technology A

TC

4

5

3.9

Aim Technology Inv

TC

4

5

-0.2

J Hancock Regional Bank B

FS

3

5

4.0

T. Rowe Price Science & Tech Fd

TC

5

4

0.0

Fidelity Select Paper&Forest Prods

OT

4

5

4.1

DWS Communications Fund A

UT

4

4

0.5

FBR Small Cap Financial Fd

FS

3

4

5.5

Fidelity Select Telecommunications

TC

4

4

0.7

Putnam Health Sciences Trust A

HL

2

3

5.9

Morgan Stanley Technology Fd B

TC

4

4

0.9

Fidelity Select Financial Services

FS

3

5

6.1

USAA Science & Technology Fund

TC

4

4

1.0

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

Page 42

June 3, 2008

BEST PERFORMING INTERNATIONAL EQUITY FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

BlackRock Latin America B

FO/LA

5

1

7.3

T. Rowe Price Latin America

FO/LA

5

1

43.1

DWS Latin America Fund S

FO/LA

5

1

6.9

Columbia Greater China A

PB/NJ

5

3

42.3

Fidelity Latin American Fund

FO/LA

5

1

6.7

DWS Latin America Fund S

FO/LA

5

1

41.7

T. Rowe Price Latin America

FO/LA

5

1

5.4

Fidelity Latin American Fund

FO/LA

5

1

41.2

Janus Adviser Intl Growth I

FO

4

1

4.6

BlackRock Dev Cap Market I

FO/EM

5

1

40.1

Third Avenue International Value

FO

2

2

2.6

Guinness Atkinson China & HK Fund

PB/NJ

5

3

39.0

FO

5

1

2.3

BlackRock Latin America B

FO/LA

5

1

38.5

PB/JP

4

3

2.0

Matthews China Fund

PB/NJ

5

3

37.8

1.8

Fidelity China Region Fund

PB/NJ

5

3

35.9

1

1.4

AIC Acadian Emg Mkt Inst

FO/EM

5

1

33.8

Janus Overseas Fund Goldman Sachs Japanese Equity A Matthews Asia Pacific Eq Inc Fd ING Emerging Countries A

PB

-

FO/EM

3

5 YEARS Fund

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

T. Rowe Price Latin America

FO/LA

5

1

48.9

Matthews Korea Fund

PB/NJ

5

3

23.1

BlackRock Latin America B

FO/LA

5

1

47.9

ING Russia Fund

FO/EM

5

1

20.4

Fidelity Latin American Fund

FO/LA

5

1

47.7

US Global East European

EU

5

2

20.3

Eaton Vance Greater India B

FO/EM

5

3

44.0

T. Rowe Price Latin America

FO/LA

5

1

19.7

DWS Latin America Fund S

FO/LA

5

1

43.4

BlackRock Latin America B

FO/LA

5

1

18.7

AIC Acadian Emg Mkt Inst

FO/EM

5

1

40.3

Oppenheimer Developing Mkts C

FO/EM

5

1

18.5

ING Russia Fund

FO/EM

5

1

40.0

Matthews Pacific Tiger Fund

PB/NJ

5

2

18.2 18.1

Quant Emg-Markets Ord

FO

5

2

38.9

Matthews Asian Growth & Income Fd

PB/NJ

3

1

US Global East European

EU

5

2

38.2

AIC Acadian Emg Mkt Inst

FO/EM

5

1

18.1

FO/EM

5

1

37.9

Columbia Greater China A

PB/NJ

5

3

17.8

Lazard Emerging Markets Inst

WORST PERFORMING INTERNATIONAL EQUITY FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

FO/EM

5

3

-22.4

ProFunds Ultra Japan Inv

PB

5

3

-21.5

Pioneer Europe Select Equity A

US Global Inv China Region Opport

PB/NJ

5

3

-18.1

T. Rowe Price New Asia Fd

PB/NJ

5

2

-17.4

Dreyfus Premier Greater China A

PB/NJ

5

3

Eaton Vance Greater China Gr A

PB/NJ

5

ProFunds Ultra Japan Inv

PB/JP

5

FO

Fidelity Southeast Asia Fund Matthews China Fund

Eaton Vance Greater India B Eaton Vance Asian Small Co A

Oppenheimer Intl Small Company A

Commonwealth Japan Fund Pioneer AmPac Growth Fund A

Value Line Rank Risk Overall

Tot. Ret. %

PB/JP

5

4

-38.2

EU

5

4

-29.6

Eaton Vance Asian Small Co A

PB

5

3

-19.7

Oakmark International Small Cap I

FO

4

3

-18.6

-17.0

Goldman Sachs Intl Small Cap A

FO

4

4

-18.0

3

-16.7

Credit Suisse Global Small Cap Com

GL

4

4

-16.8

4

-15.7

Templeton Global Smaller Cos A

GL

4

3

-15.5

5

3

-14.4

AFBA 5Star USA Global I

GL

4

5

-15.0

PB/NJ

5

2

-13.6

Oppenheimer Quest Internatl Val A

FO

3

3

-14.9

PB/NJ

5

3

-13.0

Fidelity Japan Smaller Companies

PB/JP

5

4

-14.5

5 YEARS Fund

Inv. Obj./Peer

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

PB/JP

3

5

3.8

Commonwealth Japan Fund

PB

2

3

7.9

Seligman International Growth A

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

PB/JP

3

5

-1.9

FO

4

3

-0.4

AFBA 5Star USA Global I

GL

4

5

8.3

Harbor International Growth Fd Inst

FO

4

2

0.2

Janus Adviser Worldwide I

GL

3

3

10.7

Legg Mason Part Intl All Cap Opp B

FO

3

3

0.7 1.6

New Covenant Growth

GL

3

5

10.8

Sit International Growth Fund

FO

3

1

Lord Abbett Global-Equity A

GL

3

3

10.8

Pioneer International Value A

FO

4

2

1.9

Managers Fremont Global Fund

GL

2

2

10.9

Lord Abbett Intl Opp A

FO

4

3

2.0

SEI Asset Alloc-Dvrs Glb Gr A

GL

2

3

10.9

Dreyfus Founders WW Growth F

GL

3

2

2.3

Buffalo USA Global Fund

GL

3

3

11.0

Seligman Global Growth A

GL

4

3

2.4

Janus Worldwide Fund

GL

3

3

11.3

Seligman Global Smaller Co A

GL

4

3

2.6

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 43

BEST PERFORMING PARTIAL EQUITY FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

Oppenheimer Commodity Str Tot Ret A

AA

5

3

18.6

Oppenheimer Commodity Str Tot Ret A

AA

5

3

47.1

Permanent Portfolio Fund

AA

2

1

3.5

CGM Mutual Fund

BA

4

2

38.3

Oakmark Equity and Income I

BA

1

1

2.6

Waddell & Reed Adv Asset Strat A

FL

3

1

34.2

CGM Mutual Fund

BA

4

2

2.5

Ivy Asset Strategy C

FL

3

1

30.2

FPA Crescent Fund

BA

1

2

2.2

Caldwell & Orkin Mkt Opportunity

FL

3

2

17.8

Leuthold Core Investment Fund

AA

1

1

1.7

J Hancock Balanced A

BA

2

1

14.8

Gabelli Comstock Capital Value A

AA

3

4

1.4

Leuthold Core Investment Fund

AA

1

1

14.8

DWS Target 2014

FL

1

2

1.3

Permanent Portfolio Fund

AA

2

1

11.3

DWS Target 2010

FL

1

2

1.0

BlackRock Glbl Allocation B

AA/GL

1

1

10.6

J Hancock Balanced A

BA

2

1

0.9

Aston/Montag & Caldwell Bal N

BA

2

2

9.1

5 YEARS Fund

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

Bruce Fund

FL

3

3

21.8

Bruce Fund

FL

3

3

15.5

Waddell & Reed Adv Asset Strat A

FL

3

1

21.7

Waddell & Reed Adv Asset Strat A

FL

3

1

13.7

CGM Mutual Fund

BA

4

2

20.7

Ivy Asset Strategy C

FL

3

1

12.9

Oppenheimer Commodity Str Tot Ret A

AA

5

3

20.2

Leuthold Core Investment Fund

AA

1

1

11.8

Ivy Asset Strategy C

FL

3

1

19.9

Oakmark Equity and Income I

BA

1

1

11.2

Leuthold Core Investment Fund

AA

1

1

18.4

Calamos Growth & Income A

CV

2

3

10.7

Ivy International Balanced A

BA

2

1

16.7

Oppenheimer Commodity Str Tot Ret A

AA

5

3

10.5

BlackRock Glbl Allocation B

AA/GL

1

1

16.1

Fidelity Convertible Securities

CV

3

2

10.3

Fidelity Global Balanced Fund

BA/GL

2

1

15.2

BlackRock Glbl Allocation B

AA/GL

1

1

10.0

BA

2

1

14.8

FPA Crescent Fund

BA

1

2

9.4

Thornburg Investment Inc Builder A

WORST PERFORMING PARTIAL EQUITY FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

DWS Value Builder A

BA

2

5

-10.1

DWS Value Builder A

BA

2

5

-20.6

Calamos Global Growth & Income A

CV

3

1

-7.3

Alpine Dynamic Balance

BA

3

5

-14.5

Thornburg Investment Inc Builder A

BA

2

1

-6.6

Bruce Fund

FL

3

3

-13.8

Payden Market Return R

FL

2

4

-6.4

Oppenheimer Quest Balanced A

BA

2

5

-12.8

TA IDEX Transamerica Balanced A

BA

2

3

-6.3

Seligman Income & Growth A

FL

2

4

-11.8

Caldwell & Orkin Mkt Opportunity

FL

3

2

-6.2

Legg Mason Pt Life Alloc 85% C

AA

3

5

-10.7

Bruce Fund

FL

3

3

-6.1

FBP Balanced Fund

BA

1

4

-9.7

AllianceBernstein Balanced Shares A

BA

2

3

-6.0

Boston Ptrs Long/Short Equity Inst

BA

2

3

-9.1

Legg Mason Pt Life Alloc 85% C

AA

3

5

-5.6

Payden Market Return R

FL

2

4

-8.3

Alger Balanced Fund B

BA

2

3

-5.6

Delaware Balanced A

BA

1

3

-7.4

5 YEARS Fund

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

Gabelli Comstock Capital Value A

AA

3

4

-11.0

Gabelli Comstock Capital Value A

AA

3

4

-5.3

GAMCO Mathers Fund

FL

1

3

1.1

GAMCO Mathers Fund

FL

1

3

0.3

Pioneer Protected Princip Pl A

BA

1

3

3.0

Delaware Balanced A

BA

1

3

0.9

T. Rowe Price Tax Eff Balanced

BA

1

3

3.8

RiverSource Balanced Fund A

BA

1

3

1.0

Calamos Market Neutral Income A

CV

1

2

4.4

Brown Capital Mgmt Balanced

FL

2

3

1.0

DWS Target 2010

FL

1

2

4.6

Seligman Income & Growth A

FL

2

4

1.1

DWS Value Builder A

BA

2

5

4.7

SunAmerica Bal Assets A

BA

1

3

1.7

Fidelity Freedom Income Fund

BA

1

3

4.8

Legg Mason Pt Life Alloc 85% C

AA

3

5

2.1

AllianceBernstein T-M W-Presv A

BA

1

3

4.9

HighMark Balanced Fund Fid

BA

1

2

2.5

Caldwell & Orkin Mkt Opportunity

FL

3

2

5.0

DWS Value Builder A

BA

2

5

2.7

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

Page 44

June 3, 2008

BEST PERFORMING TAXABLE FIXED INCOME FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

MSIF Trust International FIP Inst

IB/FO

5

3

7.5

Federated International Bond A

IB/FO

5

3

16.8

Delaware Pooled Tr-Intl Fixed Inc

IB

5

3

7.5

Delaware Pooled Tr-Intl Fixed Inc

IB

5

3

16.5

UBS PACE Global Fixed Income P

IB

5

2

7.0

PIMCO Global Bond Inst

IB

5

3

16.2

Federated International Bond A

IB/FO

5

3

6.8

MSIF Trust International FIP Inst

IB/FO

5

3

16.0

American Century Intl Bond Inv

IB/FO

5

2

6.7

UBS PACE Global Fixed Income P

IB

5

2

15.4

PIMCO Global Bond Inst

IB

5

3

6.0

American Century Intl Bond Inv

IB/FO

5

2

14.5

Munder International Bond Fund B

IB

5

3

5.9

BlackRock Intl Bond Svc

IB/FO

5

3

13.2

BlackRock Intl Bond Svc

IB/FO

5

3

5.9

Munder International Bond Fund B

IB

5

3

13.1

Oppenheimer Intl Bond A

IB

5

2

5.6

Templeton Global Bond A

IB/GL

4

2

11.4

Templeton Global Bond A

IB/GL

4

2

5.0

Waddell & Reed Adv Global Bond A

IB

2

1

11.0

5 YEARS Fund DWS Emerg Mkts Fix Inc S

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

IB/FO

5

3

11.8

PIMCO Emerging Markets Bond Inst

IB/FO

5

3

12.2

T. Rowe Price Emerging Mkts Bd

IB

5

3

11.8

Fidelity New Markets Income

IB

5

3

10.6

Oppenheimer Intl Bond A

IB

5

2

11.7

Oppenheimer Intl Bond A

IB

5

2

9.8

Fidelity Adv Hi Income Advantage T

CH

5

4

11.4

T. Rowe Price Emerging Mkts Bd

IB

5

3

9.4 9.3

Fidelity New Markets Income

IB

5

3

11.3

AllianceBernstein High Inc Fd B

IB

5

3

MSIF Emerging Markets Debt A

IB/FO

5

3

11.2

Federated International High Inc A

IB

5

3

9.2

Natixis Loomis Sayles Strat Inc A

CG

3

2

10.7

Loomis Sayles Bond Fund I

CG

3

2

8.8

Templeton Global Bond A

IB/GL

4

2

10.5

Templeton Global Bond A

IB/GL

4

2

8.5

Federated International High Inc A

IB

5

3

10.4

DWS Emerg Mkts Fix Inc S

IB/FO

5

3

8.4

Loomis Sayles Bond Fund I

CG

3

2

10.4

AllianceBernstein Global Govt A

IB/GL

4

3

8.4

WORST PERFORMING TAXABLE FIXED INCOME FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

CH

5

4

-9.4

J Hancock High Yield Fund B

CH

5

4

-14.9

GM/IT

2

4

-6.3

RiverSource High Yield Bond Fund A

CH

5

4

-9.6

Evergreen Core Bond I

DB

3

5

-5.9

Highland Cap Floating Rate Fund A

GM

3

3

-8.1

Highland Cap Floating Rate Fund A

GM

3

3

-5.2

Dreyfus Premier Lmtd Term Hi Yld A

CH/IT

4

4

-8.0

PIMCO Emerging Markets Bond Inst

IB/FO

5

3

-5.2

Dryden High Yield B

CH

4

4

-7.2

Morgan Stanley Mtge Sec Tr B

GS/LT

3

4

-5.0

Vanguard High-Yield Corporate Inv

CH

4

4

-6.3

CG

3

3

-4.3

BlackRock High Income I

CH

5

4

-6.2

J Hancock High Yield Fund B AMF Intermediate Mortgage Fund

MSIF Trust Core Plus Fix Inc Inst

CG

3

3

-4.2

Oppenheimer Champion Income A

CH

5

4

-5.7

Lehman Brothers Short Dur Bd Inv

CG/ST

4

5

-4.2

SEI Instl Mgd High Yield Bond A

CH

4

4

-5.6

MSIF Trust Invest Grd Fxd Inc Inst

CG

3

3

-4.1

Evergreen Core Bond I

DB

3

5

-5.5

MSIF Trust Core Fixed Inc Inst

5 YEARS Fund

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

AllianceBernstein Govt Short Dur

GS/ST

1

3

0.6

Putnam High Yield Advantage A

CH

4

5

-4.6

RiverSource Short Dur US Gov’t A

GS/ST

1

4

0.8

Morgan Stanley High Yield Sec D

CH

3

3

-2.8

Payden US Government R

GS/LT

5

5

0.8

Seligman High Yield Bond A

CH

4

4

-0.1

Bernstein Short Duration Plus

GS/ST

1

4

0.9

Aim High Yield Fund A

CH

4

3

0.3

IB

3

3

1.2

Delaware Delchester Fund A

CH

4

3

1.5

GM/IT

2

4

1.2

Phoenix High Yield A

CH

4

3

1.6

Morgan Stanley Mtge Sec Tr B

GS/LT

3

4

1.4

Target International Bond

IB

3

3

1.9

Homestead Short Term Bond

CG/ST

1

4

1.5

RiverSource High Yield Bond Fund A

CH

5

4

1.9

Lehman Brothers Short Dur Bd Inv

CG/ST

4

5

1.6

Dreyfus Premier Lmtd Term Hi Yld A

CH/IT

4

4

2.1

DB

3

5

1.8

Dryden High Yield B

CH

4

4

2.1

Target International Bond AMF Intermediate Mortgage Fund

Evergreen Core Bond I

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

THE VALUE LINE MUTUAL FUND SURVEY

June 3, 2008

Page 45

BEST PERFORMING MUNICIPAL BOND FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund Dreyfus Infl Adjusted Sec Inst Legg Mason Managed Municipals A

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

MB

5

3

2.1

Dreyfus Infl Adjusted Sec Inst

MB

5

3

8.3

MB/LT

3

1

2.1

Fidelity Short-Intermed Muni Inc

MB/ST

2

2

5.0

MB/LT

3

1

4.7

MS

3

1

4.6 4.5

Fidelity Short-Intermed Muni Inc

MB/ST

2

2

1.6

Legg Mason Managed Municipals A

Columbia Sh-Term Muni Bond A

MB/ST

1

2

1.5

DWS Mass Tax-Free S

Aim Tax-Free Intermediate A

MB/IT

2

2

1.4

DWS Interm Tax/AMT Free S

MB/IT

3

2

Dreyfus Premier Sh-Intmd Muni Bd D

MB/IT

1

2

1.3

Aim Tax-Free Intermediate A

MB/IT

2

2

4.5

ISI Managed Municipal Fund

MB/LT

4

3

1.2

Columbia Sh-Term Muni Bond A

MB/ST

1

2

4.3

American Century Tax-Free Bond Inv

MB/IT

3

1

1.2

Fidelity Intermediate Muni Income

MB/IT

3

1

4.0

American Century CA Tax-Free Bond

MC/IT

3

3

1.2

Dreyfus Premier Sh-Intmd Muni Bd D

MB/IT

1

2

3.8

USAA T/E Short Term Bond Fund

MB/ST

1

2

1.1

American Century Tax-Free Bond Inv

MB/IT

3

1

3.7

5 YEARS Fund Rochester Fund Municipals A Colorado Bond Shrs Tx-Exmt A

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

MY/LT

5

4

5.7

Colorado Bond Shrs Tx-Exmt A

MS

1

1

5.9

MS

1

1

5.6

Fidelity NY Muni Income

MY/LT

3

1

5.2

Wells Fargo Adv Muni Bond Inv

MB/LT

3

2

5.5

DWS High Yield Tax Free S

MB/HY

4

2

5.2

Franklin High Yield Tax-Free Inc A

MB/HY

3

3

5.1

Fidelity Municipal Income

MB/LT

3

1

5.1

Van Kampen High Yield Muni A

MB/HY

4

3

5.0

Vanguard FL Long-Term T/E Inv

MS

4

3

5.1

Waddell & Reed Adv Muni Hi Inc A

MB/HY

3

3

4.9

Waddell & Reed Adv Muni Bond A

MB/LT

3

1

5.1

DWS High Yield Tax Free S

MB/HY

4

2

4.8

DWS Mass Tax-Free S

5.1

Putnam Tax-Free High Yield B

MB/HY

3

3

4.7

DWS Managed Muni Bonds S

Legg Mason Managed Municipals A

MB/LT

3

1

4.7

Eaton Vance National Muni B

MB/LT

5

4

4.7

MS

3

1

MB/LT

3

1

5.0

Fidelity MA Muni Income

MS

3

1

5.0

Fidelity OH Muni Income

MS

3

1

5.0

WORST PERFORMING MUNICIPAL BOND FUNDS AS OF 4/30/08 YEAR-TO-DATE Fund

Inv. Obj./Peer

1 YEAR

Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

Pioneer Tax Free Income Fund A

MB/LT

5

5

-7.0

Oppenheimer AMT-Free Munis A

MB/LT

5

5

-14.9

Oppenheimer AMT-Free Munis A

MB/LT

5

5

-4.5

Pioneer Tax Free Income Fund A

MB/LT

5

5

-8.9

Federated Muni High Yield F

MB/LT

3

4

-3.2

Van Kampen Strat Muni Inc A

MB/HY

4

4

-7.9

Eaton Vance National Muni B

MB/LT

5

4

-3.1

T. Rowe Price Tax Free High Yld

MB/HY

3

4

-7.3

Rochester Fund Municipals A

MY/LT

5

4

-2.8

Eaton Vance National Muni B

MB/LT

5

4

-7.2

Elfun Tax Exempt Income

MB/LT

3

3

-2.7

Federated Muni High Yield F

MB/LT

3

4

-6.8

T. Rowe Price Tax Free High Yld

MB/HY

3

4

-2.5

Van Kampen Insured Tax Free A

MB/IS

4

5

-5.8

MFS Municipal High Income Fund A

MB/HY

3

3

-2.5

Rochester Fund Municipals A

MY/LT

5

4

-5.7

Van Kampen Strat Muni Inc A

MB/HY

4

4

-2.2

Oppenheimer AMT-Free NY Munis A

MY/LT

5

4

-5.6

BlackRock Muni Insd I

MB/IS

4

4

-2.2

MFS Municipal High Income Fund A

MB/HY

3

3

-5.3

5 YEARS Fund

Inv. Obj./Peer

10 YEARS Value Line Rank Risk Overall

Tot. Ret. %

Fund

Inv. Obj./Peer

Value Line Rank Risk Overall

Tot. Ret. %

Calvert Tax Free Reserve-Lmtd A

MB/ST

2

3

0.8

Calvert Tax Free Reserve-Lmtd A

MB/ST

2

3

2.3

BlackRock Muni Short Term I

MB/ST

1

2

1.8

BlackRock Muni Short Term I

MB/ST

1

2

2.9

T. Rowe Price Tax Free Sh-Interm

MB/IT

2

3

1.8

Vanguard Short-Term T/E Inv

MB/ST

1

3

2.9

Evergreen Short-Intermed Muni I

MB/IT

2

3

1.9

Dreyfus Premier Sh-Intmd Muni Bd D

MB/IT

1

2

3.1

Van Kampen Insured Tax Free A

MB/IS

4

5

1.9

Evergreen Municipal Bond B

MB/LT

3

4

3.1

Vanguard Short-Term T/E Inv

MB/ST

1

3

2.0

American Funds Ltd Term T/E Bond A

MB/IT

2

2

3.1

American Century CA Lg Term T/F

MC/LT

4

4

2.0

Sit Tax Free Income Fund

MB/LT

3

3

3.3

Lord Abbett Tax Free Inc-Natl A

MB/LT

4

5

2.1

Columbia Sh-Term Muni Bond A

MB/ST

1

2

3.3

Thornburg Ltd Term Muni-Natl A

MB/IT

2

2

2.1

Federated Sh Term Muni Inst

MB/ST

1

2

3.3

Federated Sh Term Muni Inst

MB/ST

1

2

2.2

Evergreen Short-Intermed Muni I

MB/IT

2

3

3.3

© 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.

N O T E S

N O T E S

THE VALUE LINE MUTUAL FUND SURVEY

Page 48

June 3, 2008

Performance Benchmark Averages Total Return Performance Through 4/30/08 No. Funds 6214 351 3238 1020 302 1303 1134 93 115 126 172 60 239 223 106 1786 79 1051 511 145 1610 939 484 67 120 2501 617 408 583 433 239 221 1717 168 629 120 800 14962

Annualized

Objective General Equity Aggressive Growth Growth Growth/Income Income Small Company Special Equity Energy/Natural Res. Financial Services Health Other Specialty Precious Metals Real Estate Technology Utilities International Equity Europe Equity Foreign Equity Global Equity Pacific Equity Partial Equity Asset Allocation Balanced Convertible Flexible Taxable Fixed Income Corp-High Quality Corporate-High Yield Diversified Bond Government Govt-Mortgage International Bond Tax-Free Fixed Income Muni California Muni National Muni New York Muni Single State Average, All Funds Dow Jones Industrials Dow Jones Transport Dow Jones Utilities * S&P 500 Index Value Line Arithmetic Russell MidCap Index Russell 2000 Index Russell 2000 Growth Russell 2000 Value Lehman AGI Bond Index Lehman High Yield Bond Lehman Mortgage Backed Lehman Muni Bond Index MSCI EAFE Index MSCI Europe Index MSCI Pacific Index MSCI WORLD Index

YTD

3 Mos

6 Mos

1 Yr

3 Yrs

5 Yrs

10 Yrs

-6.8 -5.6 -4.9 -4.1 -6.8

1.5 1.5 0.5 0.3 0.7

-11.2 -10.5 -9.7 -8.5 -13.4

-2.0 -3.6 -5.9 -6.1 -9.6

9.6 8.4 7.8 8.7 8.0

11.1 11.4 10.5 11.2 12.9

3.7 3.9 3.9 4.6 6.1

5.5 -7.9 -8.6 -3.5 1.9 5.1 -9.6 -6.6

17.5 -4.8 -3.8 2.0 -4.6 6.2 3.8 1.0

5.5 -17.3 -11.9 -8.3 -6.7 -8.3 -16.1 -9.6

31.5 -20.6 -7.5 -2.3 23.8 -14.7 -0.2 -2.8

31.4 2.3 5.4 9.8 36.6 10.1 10.7 14.1

33.2 7.3 8.4 12.0 29.8 17.2 11.8 17.4

15.3 4.3 6.3 3.3 15.2 10.6 2.8 6.0

-4.9 -4.5 -5.9 -7.0

4.6 5.0 2.7 3.5

-11.5 -11.3 -11.8 -15.9

-4.5 2.8 -1.9 7.4

16.9 20.3 13.0 19.7

20.6 23.2 16.0 23.8

6.9 7.9 5.4 9.0

-2.6 -2.9 -2.8 -1.9

1.5 0.5 1.3 0.5

-6.1 -5.5 -7.0 -4.3

-1.1 -1.3 -0.2 1.8

7.3 6.8 8.3 8.2

8.7 8.2 8.7 8.7

4.2 4.1 5.0 4.3

-0.3 -0.7 0.7 1.2 -0.1 2.5

-1.4 1.3 -0.4 -0.6 -0.9 0.8

0.4 -3.0 1.4 3.2 1.7 2.4

1.5 -4.1 2.8 5.1 3.1 5.8

3.1 4.1 3.4 3.3 3.4 5.3

3.0 5.7 3.6 2.6 2.9 6.5

4.5 2.6 4.2 4.4 4.3 5.8

-0.3 -0.3 -0.3 -0.1 -2.7 -3.9 11.8 -5.5 -5.0 -6.4 -3.9 -6.1 -8.3 -3.6 2.0 -2.4 2.5 -0.6 -5.1 -9.1 -3.6 -5.0

-1.2 -1.3 -1.2 -1.2 1.1 0.8 7.5 0.1 1.0 -1.4 2.8 0.7 0.9 0.6 0.4 -1.1 0.6 -1.8 4.7 3.4 3.0 2.9

0.5 -0.1 0.7 0.1 -6.2 -6.1 7.0 -3.8 -9.6 -10.3 -8.8 -12.9 -14.1 -11.5 4.2 -4.2 4.6 0.4 -10.4 -11.3 -10.3 -10.3

0.5 0.2 0.9 0.4 0.0 -4.6 -0.6 -5.0 -4.7 -13.7 -6.3 -10.9 -6.7 -15.1 7.0 -4.3 7.4 1.7 -3.9 -2.6 -5.5 -1.0

2.1 2.3 2.2 2.1 9.5 6.8 13.1 10.3 8.2 7.1 10.9 8.6 9.9 7.3 5.0 5.5 5.0 3.2 15.0 17.6 10.6 11.3

2.6 2.6 2.6 2.5 11.2 7.9 15.5 17.3 10.6 13.4 16.2 13.8 13.3 14.1 4.4 7.5 4.5 3.8 19.8 21.2 17.9 14.8

3.8 3.7 3.7 3.7 5.6 3.2 3.5 5.8 3.9 7.5 8.3 5.3 2.2 7.7 6.0 4.8 5.8 5.2 6.6 7.1 5.8 5.0

* Revised Data

THE VALUE LINE MUTUAL FUND SURVEY 220 East 42nd Street, New York, NY 10017-5891 © 2008, Value Line Publishing, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS To subscribe call 1-800-833-0046. NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. All investors must read applicable prospectuses before investing.