Product PerformancE

Data as of 12/31/2010

Methodology: Yearly returns are for all Fixed Income-only accounts open for the entire year, size-weighted.

Past performance is no indication of future results.

Your portfolio value will fluctuate such that you may receive more or less than your original investment should you choose to close your account.

Actual results may differ from the composite results, depending on the size of your account, investment objectives and/or restrictions, when your account is opened and other factors.

The performance data quoted above in the chart does not reflect the deduction of our advisory fees. Your investment return will be reduced by advisory fees and other account expenses. Our advisory fees are disclosed in our Form ADV, Part II.

The net effect of the deduction of fees on annualized performance, including the compounded effect over time, varies with the size of the fee and the account's investment performance. For example, an account with a [.50]% annualized management fee deducted quarterly and [10]% annualized performance before fees will have a net performance after fees of about [9.45]% per year over a five-year period. The same account with [16]% annualized performance will have a net performance after fees of about [15.42]% per year over a five-year period. Compounding will similarly affect the account's performance on a cumulative basis.

BARCLAYS CAPITAL GOVERNMENT INTERMEDIATE INDEX

Barclays Capital Government Intermediate Index is based on all publicly issued obligations of the U.S. Treasury, and U.S. Government Agencies. This index includes such bonds with at least $150MM par value outstanding and maturities up to, but not including, 10 years.

The index referenced above is unmanaged and does not reflect any transaction costs. It was chosen to give you a basis of comparison for fixed income performance.